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02.04.26 - 22:36
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US Defense Stocks Take Epic Fury Beating, Leaving UBS Asking Why (ZeroHedge)
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US Defense Stocks Take Epic Fury Beating, Leaving UBS Asking Why
Despite the launch of Operation Epic Fury against Iran in late February, U.S. defense stocks have moved lower rather than higher, prompting a UBS analyst to pen a note to clients this week attempting to answer why the makers of missiles and tanks failed to sustain a wartime rally.
Analyst Allyson Gordon asked the question: "Why Is US Defense Performance Lackluster?"
Let's start with iShares U.S. Aerospace & Defense ETF, or ITA, a basket of major U.S. defense firms. ITA caught an early bid in the first phase of Operation Epic Fury, but the rally failed to hold shortly after that. By late March, the fund was down nearly 16%. The fund has since rebounded in recent sessions, trading around $223 on Thursday morning, but the defense complex's inability to sustain a war-driven rally caught investors off guard.
Gordon provided her take on why defense stocks has underperformed during the first month of the conflict:
Defense ...
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02.04.26 - 16:57
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Tesla Delivers 358,023 Vehicles In Q1, Missing Wall Street Expectations For Second Consecutive Quarter (ZeroHedge)
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Tesla Delivers 358,023 Vehicles In Q1, Missing Wall Street Expectations For Second Consecutive Quarter
Tesla reported a disappointing first quarter, delivering 358,023 vehicles worldwide, falling short of Wall Street expectations of about 372,000, according to Bloomberg-compiled estimates and the company's own release.
The miss marks Tesla's second consecutive quarter below forecasts, underscoring continued pressure on its core automotive business as it navigates slowing electric-vehicle demand and a more competitive global market.
Despite the shortfall, deliveries were still up 6.3% year over year, benefiting from an easier comparison period when production of the Model Y was temporarily paused across multiple factories and the company faced consumer backlash tied to CEO Elon Musk. Even so, the results highlight the growing challenges Tesla faces in sustaining growth in its main revenue-generating segment, even as investor focus has increasingly shifted toward its longer-term bets on artifi...
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