Why Mortgage Lenders Aren't Embracing This DEI Rollback From Trump
It's an industrywide issue that has historically penalized minority groups, and now President Donald Trump has offered lenders the chance to ignore his predecessor's attempts to make it easier for homeowners to question the valuations assigned by property appraisers. Trump has scrapped some of the guidelines, part of his team's vow to stamp out what it sees as initiatives that support diversity, equity and inclusion.
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Speaker Mike Johnson visits occupied West Bank to support Israeli settlers
Mike Johnson became the highest ranked US official to visit the occupied West Bank on Monday, the Republican House speaker drawing measures of praise and condemnation for his trip in support of Israeli settlements amid a worsening starvation crisis in Gaza. The excursion followed Johnson's arrival in Israel on Sunday on an unannounced visit with other Republican lawmakers, and his meeting with Israeli defense minister Israel Katz and foreign minister Gideon Saar. Johnson's visit to the West Bank is the highest profile by a senior US political figure since then secretary of state Mike Pompeo went to Psogat in November 2020 during the final months of Donald Trump's first presidency. It is a private trip hosted by a pro-Israel advocacy group, an Axios report said, and not an official congressional delegation. The outlet said Johnson traveled with fellow Republican representatives Michael McCaul, Nathaniel Moran and Michael Cloud of Texas, and Claudia Tenney of New York. Johnson told Israeli settlers on Monday that Israel was the 'rightful owner' of the contested Palestinian territory, according to a report published on the pro-Palestinian website Common Dreams, and separately, Marc Zell, chair of Republicans Overseas Israel. Common Dreams quoted Johnson as saying that 'the mountains of Judea and Samaria are the rightful property of the Jewish people' and that the territory was at 'the front line of the state of Israel, and must remain an integral part of it'. 'Even if the world thinks otherwise, we stand with you,' he reportedly added, an apparent reference to recent proclamations by France and the UK that they would recognize a Palestinian state if Israel did not commit to a ceasefire in Gaza. His visit was immediately condemned by the Palestinian foreign ministry, which issued a statement calling Israel's annexation of the West Bank a 'blatant violation of international law'. Johnson's stance in support of the settlers, it said, 'undermines Arab and American efforts to stop the war and [the] cycle of violence, while flagrantly contradicting the declared US position on settlements and settler violence'. According to a post on X by Zell, Johnson also said the US should use the 250th anniversary of its independence next year 'to remind the American people of its Judeo-Christian foundations that were formed here in the land of Israel'. Johnson's trip comes as pressure builds on Israeli prime minister Benjamin Netanyahu over the growing hunger crisis in Gaza, which some critics have called a genocide orchestrated by Israel. It also comes shortly after a Palestinian American from Florida was killed in the West Bank by Israeli settlers while visiting family. The Trump-appointed ambassador to Israel, Mike Huckabee, called the killing a 'terrorist attack'. Johnson is expected to meet Netanyahu before returning to the US on Sunday. Solve the daily Crossword
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Tesla Awards Musk $29 Billion in Shares as 2018 Pay Battle Continues
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Kyndryl (NYSE:KD) Misses Q2 Sales Targets, Stock Drops 13%
IT infrastructure services provider Kyndryl (NYSE:KD) fell short of the market's revenue expectations in Q2 CY2025, with sales flat year on year at $3.74 billion. Next quarter's revenue guidance of $3.81 billion underwhelmed, coming in 1.5% below analysts' estimates. Its non-GAAP profit of $0.37 per share was in line with analysts' consensus estimates. Is now the time to buy Kyndryl? Find out in our full research report. Kyndryl (KD) Q2 CY2025 Highlights: Revenue: $3.74 billion vs analyst estimates of $3.80 billion (flat year on year, 1.5% miss) Adjusted EPS: $0.37 vs analyst estimates of $0.36 (in line) Adjusted EBITDA: $647 million vs analyst estimates of $628 million (17.3% margin, 3% beat) Revenue Guidance for Q3 CY2025 is $3.81 billion at the midpoint, below analyst estimates of $3.87 billion Operating Margin: 4%, up from 2.5% in the same quarter last year Free Cash Flow was -$267 million compared to -$27.75 million in the same quarter last year Market Capitalization: $8.42 billion "Our first quarter reflected steady progress across key growth areas of our business, with contributions from Kyndryl Consult, hyperscaler-related activity, scope expansions and productivity gains. Our expertise in mission-critical technology and our unique operational capabilities, including Kyndryl Bridge, are helping customers innovate and creating new growth opportunities for Kyndryl," said Chairman and Chief Executive Officer Martin Schroeter. Company Overview Born from IBM's managed infrastructure services business in a 2021 spinoff, Kyndryl (NYSE:KD) is the world's largest IT infrastructure services provider that designs, builds, and manages technology environments for enterprise customers. Revenue Growth Examining a company's long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. With $15.06 billion in revenue over the past 12 months, Kyndryl is a behemoth in the business services sector and benefits from economies of scale, giving it an edge in distribution. This also enables it to gain more leverage on its fixed costs than smaller competitors and the flexibility to offer lower prices. However, its scale is a double-edged sword because it's harder to find incremental growth when you've penetrated most of the market. To expand meaningfully, Kyndryl likely needs to tweak its prices, innovate with new offerings, or enter new markets. As you can see below, Kyndryl struggled to generate demand over the last five years. Its sales dropped by 4.6% annually, a tough starting point for our analysis. Long-term growth is the most important, but within business services, a half-decade historical view may miss new innovations or demand cycles. Kyndryl's recent performance shows its demand remained suppressed as its revenue has declined by 5.7% annually over the last two years. This quarter, Kyndryl's $3.74 billion of revenue was flat year on year, falling short of Wall Street's estimates. Company management is currently guiding for a 1% year-on-year increase in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 3.4% over the next 12 months. While this projection implies its newer products and services will spur better top-line performance, it is still below the sector average. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating Margin Although Kyndryl was profitable this quarter from an operational perspective, it's generally struggled over a longer time period. Its expensive cost structure has contributed to an average operating margin of negative 3.2% over the last five years. Unprofitable business services companies require extra attention because they could get caught swimming naked when the tide goes out. It's hard to trust that the business can endure a full cycle. On the plus side, Kyndryl's operating margin rose by 11.5 percentage points over the last five years. Still, it will take much more for the company to show consistent profitability. In Q2, Kyndryl generated an operating margin profit margin of 4%, up 1.5 percentage points year on year. This increase was a welcome development and shows it was more efficient. Earnings Per Share Revenue trends explain a company's historical growth, but the change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Kyndryl's full-year EPS flipped from negative to positive over the last two years. This is encouraging and shows it's at a critical moment in its life. In Q2, Kyndryl reported adjusted EPS at $0.37, up from $0.13 in the same quarter last year. This print beat analysts' estimates by 1.8%. Over the next 12 months, Wall Street expects Kyndryl's full-year EPS of $1.41 to grow 89.1%. Key Takeaways from Kyndryl's Q2 Results It was encouraging to see Kyndryl beat analysts' EPS expectations this quarter. On the other hand, its revenue slightly missed and its revenue guidance for next quarter fell short of Wall Street's estimates. Overall, this was a weaker quarter. The stock traded down 13% to $31.92 immediately after reporting. Kyndryl didn't show it's best hand this quarter, but does that create an opportunity to buy the stock right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free.
