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Princess Kate has been the popular face of the royal family. What now? 2024-03-14 17:55:00+00:00 - LONDON — Though she is formally known as Catherine, the Princess of Wales, for millions worldwide she will always just be Kate Middleton: The English commoner who married a prince and whose elegant but accessible image has cemented her as Britain’s favorite royal. That’s why the saga around her unexplained surgery and subsequent altered family photo has been so damaging for this ancient institution, commentators say. Particularly coming at a time when the royals find themselves short of headline acts, following the death of Queen Elizabeth II, the recent cancer diagnosis of King Charles III, and with Prince Harry and his wife, Meghan, living in California. Until her leave of absence, Kate had been picking up the slack, both a reliable royal foot soldier and someone able to bring star power to even the most mundane ribbon-cutting event. And Kate and her husband, William, the Prince of Wales, had largely navigated their desire for privacy with their growing public duties once he became heir to the throne. “William and Kate are individually extremely popular — they are the two most popular members of the royal family,” NBC News royal commentator Daisy McAndrew said. “Kate, even more than William, has always had this can-do-no-wrong reputation, so for her to be criticized will be tough for the royal family to swallow.” Kate, the Princess of Wales, during the coronation of King Charles in London. Odd Andersen / AFP via Getty Images file Though Charles is king and William is his heir, it is Kate — the future queen — who regularly polls as the nation’s favorite member of this birthright clan. Once again this week, a survey from pollster Ipsos had Kate as the most popular royal, with 38% of the 1,085 respondents in Britain ranking her as their No.1 ahead of William. Though released Wednesday, it was conducted prior to the British Mother’s Day photo scandal. Of course, that popularity is not universal, particularly since the very public falling out between William and Kate, and Harry and Meghan. Almost every royal storyline is now framed by the media as part of the wider struggle between cheerleaders for Team Wales and those for Team Sussex. The latter have claimed that race has been a factor in Meghan’s treatment by parts of British media, which has at times seemed harsher than the coverage given to Kate. One tabloid columnist referred to Meghan’s “exotic” DNA and a Daily Mail headline described her Los Angeles roots as “(almost) straight outta Compton.” The same newspaper ran photos of a pregnant Meghan cradling her pregnancy bump under the headline: “Why can’t Meghan Markle keep her hands off her bump?” Months earlier, it had described a pregnant Kate as “tenderly” cradling her bump. Even this week, while British newspapers have covered the saga at length, much of the commentary has been gentle. “GIVE KATE A BREAK,” the right-wing Daily Mail, the country’s top-selling newspaper, thundered on its front page Thursday. The Sun, another popular British tabloid, managed to make the Sussexes the focus of the story with, “MEGHAN AND HARRY ENTER KATE PIC ROW.” “She is a source of fascination,” royal commentator Tim Ewart told NBC News on Thursday. “Bear in mind that the public and the media do not have the intense interest in the king” — fifth-most popular in the Ipsos poll — “that they do in the princess of Wales, Kate.” Kate and Prince William in 2020. Joe Giddens / WPA Pool / Getty Images Kate, 42, grew up in Berkshire, an affluent county to the west of London, raised by entrepreneur parents. She went to Marlborough College, an exclusive private school whose fees today are as much as $60,000 a year. She then studied art history at the University of St. Andrews in Scotland, which has one of the lowest percentages of state-educated students of any university in Britain. It was here that she met William in 2001, their relationship coming to public attention when they were photographed together while skiing in Switzerland. They married in 2011 despite briefly splitting in 2007. It has not always been a smooth ride with the press. Her lawyers asked photographers to leave her alone in 2005, as she was learning to navigate post-grad working life while in the glare of being a royal girlfriend. In 2012, the couple sued a French magazine for publishing topless pictures of her, taken while she was vacationing at a villa in the south of the country. But those were blips for a couple who have always been seen as more willing to play the game than Harry and Meghan: rarely voicing their opinions, and seeking to control the press and public narrative rather than lashing out against it so openly. That is, until now, with the altered photo — and the fact that she was not wearing her wedding ring in it — only adding fuel to a fire of conspiracy theories and speculation about her health and personal life that the royals are struggling to put out. It has also risked tarnishing the halo, in the eyes of many, of someone whose almost unblemished public relations record was perhaps only rivaled by the late queen herself. The altered photo of Kate with her children that was distributed on Britain's Mother's Day. Prince of Wales / Kensington Palace / PA Wire While Kate may share the inoffensive persona that partly explained the queen’s popularity, it may be Elizabeth’s absence and the goodwill buffer she provided that have made the critique of the future queen feel more stark, McAndrew said. “People knew that when we did go into a post-Queen Elizabeth era, the scrutiny would be more intense. That was something that the royal family knew was coming and knew that they had to prepare for,” she said. “And I think that probably is what we’re seeing now.”
Defense Contractor Stocks Explained, Plus Investment Guide 2024-03-14 17:36:00+00:00 - To get broad exposure to the defense sector, a defense-themed ETF can help diversify investment in defense contractors. Defense stocks are companies that provide products and/or services to the U.S. military or sanctioned governments to secure, maintain and promote national security. When a geopolitical event or threat makes headlines, some of the first mover stocks are defense contractor stocks. These stocks fluctuate on any geopolitical or national security news. Incidents don't have to conflict with the United States but can happen anywhere. These can be lucrative investments, so it pays to know defense stocks. But what are defense stocks, and which type of military stock should you invest in? This article will introduce you to the topic and review how to invest in the best defense stocks. Get BWX Technologies alerts: Sign Up Understanding Defense Contractor Stocks First, avoid confusing "defense" stocks with "defensive" ones. Defensive stocks are low-volatility, stable stocks that usually provide dividends to weather a market downturn better. Defense industry stocks or defense contractors stocks are companies that provide products and/or services to the U.S. military or sanctioned governments to secure, maintain and promote national security. These include weapons, aircraft, ammunition, intelligence, data analysis and logistics services. Defense contractors have always been involved in every U.S. conflict or war and are the weapons suppliers to the U.S. government, usually contracted through the Department of Defense. Defense companies are banned from dealing with nations deemed hostile and must be approved by the U.S. government. Key Players in the Defense Industry Let's look at the top players in the defense industry, starting with the biggest name: Lockheed Martin Corp. Lockheed Martin The Lockheed Martin Corp. NYSE: LMT is often synonymous with the defense sector. With over 75% of its revenue coming from defense projects, Lockheed Martin is a major government supplier, and 10% of the Pentagon's spending goes to this aerospace giant in Bethesda, Maryland. Raytheon Technologies Inc. A merger between United Technologies Corp and Raytheon Company created today's Raytheon Technologies Inc. NYSE: RTX, which operates adjacent to its biggest customer in Arlington, VA. Raytheon is the largest pure aerospace and defense company by market cap and operates an intelligence services division. With over 65,000 patents, the firm is also an innovator in defense systems and military aircraft. General Dynamics Co. Another of the major U.S. contractors is General Dynamics Co. NYSE: G.D., which operates in four segments and supplies both public and private clients. General Dynamics builds planes for commercial and military operations, ships and submarines for the U.S. Navy, land combat systems and information technology. Northrop Grumman Corp. Our last large-cap defense and aerospace company is Northrop Grumman Corp. NYSE: NOC, which has operated for nearly 85 years building tactical weapons, military craft, defense systems and related services. Northrop Grumman also manufactures manned and unmanned aircraft, and its mission systems segment offers support, intelligence, command and recon solutions for live operations. BWX Technologies Inc. Not every defense company has an enormous market cap. BWX Technologies Inc. NYSE: BWXT is only one-tenth the size of Lockheed Martin, but it still gets government contracts for its nuclear components and systems. BWX produces reactors, fuel and other components for U.S. nuclear submarines, plus related products and services. Factors Affecting Defense Contractor Stocks What influences the price of the best defense stocks? Here are a few factors to be aware of when researching your investments. Government Policies and Defense Budgets One of the benefits of contracting for the U.S. government is having a client who can legally print their own money. But that being said, the appetite for military spending ebbs and flows with the winds of politics and contractors aren’t always guaranteed new projects. Additionally, contractors must navigate the competitive System for Award Management (SAM) and maintain certain size and registration requirements. Geopolitical Tensions and Conflicts Uncertainty in the geopolitical ring can boost defense stocks, but predicting war, invasions or military operations is a tough business. While these companies employ some of the best political forecasters and strategists, tensions can unfold quickly or slowly grind on for years, often surprising even the most proficient prognosticators. Technological Advancements and Innovation Finally, the industry is competitive and companies that don’t innovate or cut corners quickly find themselves out of favor (Looking at you, Boeing Company). The next generation of aerospace and defense will likely involve unmanned vessels, more precise and surgical strikes and automated deterrent systems. Ways to Invest in Defense Stocks Since there are no actual war stocks since the U.S. military is not publicly traded, investors have only to invest in defense contractors that are publicly listed. There are many ways to approach investing in defense company stocks. While many large defense contractors offer services throughout many segments of the defense industry, you can invest in companies specializing in various segments. Some defense contractors are so large that they have many divisions specializing in the following areas, thereby diversifying the investment in the stock. Defense ETFs If you want broad exposure to the defense sector, then a defense-themed ETF would be the best way to diversify investment in defense contractors. ETFs trade like stocks, so they can be conveniently bought and sold without the delay you would have in a mutual fund. ETFs are professionally managed, so you don't have to worry about researching and staying up to date on the happenings of any individual defense contractor. Aerospace You can also select a segment of specialization for defense contractors. The aerospace defense contractors focus on companies that make aircraft for military and commercial use. They may manufacture airplanes, fighter jets, air carriers, drones, satellites, and advanced combat aircraft. These stocks also tend to make aircraft for airlines for commercial use. Components These companies supply military equipment components like jet engines that go into fighter jets. Component companies are often subsidiaries of defense contractors, making them vertically integrated conglomerate organizations. Often, defense contractors are formed through a merger of companies providing complementary products and services, like a company that makes components for jet fighters, with a company that constructs the actual aircraft. Services This segment focuses on providing services from meal supplies to contracting special contractors for private armies and protection. It could include special contractors to provide assistance and backup for military operations involving ex-military members. Many of these contracts are classified and require high levels of clearance from the Department of Defense. Logistics This segment focuses on helping to transport military equipment and personnel. These companies secure the delivery of machines and people to and from war zones or military operations worldwide. Information Technology These companies provide the hardware and software to perform intelligence operations and data analysis. This includes data storage, analysis, management and artificial intelligence (A.I.) platforms. The information is highly sensitive and classified, often associating these companies with covert operations. While these companies are publicly traded, they access highly private and sensitive data and information that can be crucial for national security. These technology companies may also specialize in other enterprise data management functions for commercial clients. How to Invest in Defense Stocks Like any form of investment, there are specific steps to take to make sound investment decisions. If you decide to invest in a defense stock, it pays to research and plan to ensure a positive experience. The best defense stocks may be wrong for your investment or risk profile, so consult an investment professional if you have any questions or concerns. Step 1: Determine which segment to invest in. As aforementioned in the previous section, there are many segments in the defense industry. Determine which segment or segments you want to include in your investment. You can select companies specializing in one or more interest segments ranging from aerospace and components to services, logistics and information technology. Some companies are conglomerates that include parts of all the segments. It's best to narrow it down to the segment you understand best. Step 2: Select potential stocks. You can run a scan on defense stocks through any broker platform or Google to compile a list of potential defense companies to invest in. Make sure you have a familiar group of stocks — you will need to filter them to narrow the list down to the one or few that meet your criteria. Step 3: Research fundamentally. Consider reading through several annual and most recent quarterly earnings reports to gauge the company's performance. This means knowing the top and bottom line growth rate, debt structure and recent news or material events such as large contracts. Be aware of what the company is known for and its operations. The fundamentals are the qualitative factors of the company and stock valuation. It also pays to compare various metrics with its peers and industry to determine if the valuation is low or high. Compare price-earnings, price-book, debt-equity, price-sales and year-over-year (YOY) revenue and earnings per share growth. For example, if the average price-earnings multiple is 25x and your stock is trading at 15x earnings, the stock may be undervalued and provide more upside potential. This is one way to find undervalued stocks to invest in. Step 4: Research technically. Technical research involves analyzing the underlying stock price history on a chart. While you don't have to be a chart expert, it does help to be able to identify if the current price is in an uptrend or downtrend, as well as support and resistance levels. If you plan to invest long term, you can look for weekly and monthly trends, support and resistance levels. You can use daily and hourly charts for those with shorter-term investment horizons. Stocks in an uptrend usually command a premium as more buyers than sellers create more robust demand over supply, which drives up the stock price. Consider an entry if the fundamentals are strong enough to justify more upside. Otherwise, it might be better to wait for a pullback. Downtrending stocks have more sellers than buyers, but it can be due to a bear market, not the individual company. Downtrending stocks are cheaper because you take on more risk with a falling stock price, but the rewards can be better when the trend reverses. Step 5: Determine your entry and exit price levels. When you can identify the trend, support and resistance on any stock, you can use them to determine your entry points. For an uptrending stock, you may buy it on a pullback to a trend support price level. You may also sell the position at a price resistance level and thereby sell into strength rather than in a panic when prices drop. For downtrending stocks, you might wait for the stock to reverse its trend before entering a position. You can also predetermine an entry based on a price support level and place a limit order in case it triggers when you aren't watching. Either way, it pays to prepare and predetermine your investment entry and exit price. Investment Strategies and Opportunities If you want to add defense companies to your portfolio, you’ll need to have a strategy. Here are a few considerations for investors. Long-term vs. Short-Term Investment Outlook What is your timeline for investing? Contractors are often large, dividend-paying companies with less volatility than other sectors. If you’re investing for income, these companies could make sense for your portfolio, but growth seekers might prefer more volatile stocks and sectors. Diversification Strategies in the Defense Industry Which defense companies have the best outlook? You should never invest all your capital into just one or two stocks, but the industry isn’t as diverse as sectors like tech, finance or consumer discretionary. Investors who want to own the sector can use ETFs like the SPDR S&P Aerospace and Defense ETF NYSE: VAR, which holds 33 large-, mid- and small-cap variety stocks. Identifying Growth Areas and Potential Market Trends What trends and innovations are currently fueling the defense industry? Which companies best leverage A.I. and automation to streamline services or cut costs? Like any industry, predicting future trends is difficult and investors can’t expect to guess correctly on every awarded contract. Stay on top of the industry from both internal (market trends) and external (geopolitical) viewpoints to maximize your potential gains. Will Conflict Move Defense Stocks? Conflicts that make headlines tend to move defense company stocks depending on the specifics of the news. Wars tend to immediately bolster stocks in the defense sector in anticipation of the vast sums of money expected to be spent buying military equipment such as weapons systems, ammunition, devices and vehicles. However, don't chase prices when these stocks shoot up rapidly. Remember that you are not the first to spot these stocks and professional money managers are miles ahead of you. In many cases, defense company stocks may tumble on news of war because they already ran up in anticipation of the event that a "sell the news" reaction happens. This is why it pays to do both fundamental and technical analysis before jumping into a defense stock. Never impulsively jump in head first with any stock, especially in the defense industry. Future Performance of Defense Stocks The defense industry is considered to be recession-proof. National security is a top priority for the U.S. government; when conflict arises, it spares no expense to protect the nation. The stability of the U.S. government and its spending on defense provides stability for defense stocks. Most defense company stocks pay a dividend and the larger defense contractors are the definition of what are blue chip stocks that have stood the test of many bear markets and economic recessions. Defense stocks can be conservative lower-risk investments compared to biotech stocks that generate income through dividends, especially during market downturns. The Best Defense is a Good Offense Defense companies generate most of their revenues from the U.S. government through military contracts through economic expansion and tightening cycles. Like healthcare and utility stocks, defense stocks are generally recession-proof, as defense is a national priority. These are consumer staples, not consumer discretionary stocks, to invest in. They aren't nearly as volatile as the FAANG stocks. While everyone tends to focus on defense stocks when a war or global conflict breaks out, it pays to play offense during peace and low geopolitical conflicts to get positioned before things erupt. Defense stock prices will have spiked to premium levels once war or conflict break out. It pays to be early or wait for pullbacks to enter defense stocks. FAQs Here are a few commonly asked questions about the best defense stocks to buy: Are defense stocks a good buy? Defense companies are some of the largest and most profitable companies on U.S. stock exchanges. These firms are often good investments because government contracts are lengthy and have predictable terms. Additionally, geopolitical tensions have been rising since 2022, which could continue to boost companies that manufacture defense systems. What is the largest defense stock? Boeing is the largest company by market cap, although it isn’t a pure defense company and has major clients all over the globe. Raytheon Technologies and Lockheed Martin are the next biggest defense companies, each with a market cap north of $100 billion.
EPA tightens limits on a chemical used to sterilize medical equipment, citing cancer risk 2024-03-14 17:30:18+00:00 - WASHINGTON (AP) — The Environmental Protection Agency is imposing stricter limits on a chemical used to sterilize medical equipment after finding a higher-than-expected cancer risk at facilities that use ethylene oxide to clean billions of devices including catheters and syringes. A rule finalized Thursday will reduce ethylene oxide emissions by about 90% by targeting nearly 90 commercial sterilization facilities across the country, the EPA said. The companies will also have to test for the antimicrobial chemical in the air and make sure their pollution controls are working properly. The new rule will “safeguard public health from this pollution – including the health of children, who are particularly vulnerable to carcinogens early in life,’' said EPA Administrator Michael Regan. “We’ve arrived at a historically strong rule that will protect the most exposed communities from toxic air pollution while also ensuring ... safeguards (to) our nation’s critical supply of sterilized medical equipment.” The American Lung Association called the rule an important step forward to protect human health from cancer caused by ethylene oxide emissions. “The science on health risks from ethylene oxide shows both short-term and long-term exposure are dangerous for health,’' said Harold Wimmer, the group’s president and CEO. People who live near commercial sterilization facilities are more likely to develop cancer over their lifetimes, Wimmer said, adding: “No one should have to live with elevated cancer risk because of air pollution in their community.’' Patients with lung disease and other health problems “also need access to safe and clean medical supplies,’' he said. “We appreciate the work EPA put into ensuring that this final rule both cleans up harmful emissions and ensures continued access to sterilized medical equipment.’' Darya Minovi, a senior research analyst with the Union of Concerned Scientists, called the EPA action overdue. “For far too long, communities across the country — especially Black and Brown people and those who do not speak English as a first language — have been exposed to the cancer-causing chemical ethylene oxide,’' Minovi said in a statement. “Make no mistake: politically powerful industries sought to weaken the rule’s health-protective standards, but the public health benefits that will be afforded to communities through this action are a testament to the efforts of grassroots advocates and public health experts who didn’t let up in their demands,’' she added. The tightened safeguards are driven by the EPA’s better understanding that ethylene oxide’s threat is severe, Regan said. The chemical is classified as a pesticide. A worker in a medical sterilizing plant, over the course of a career, could see their risk shoot up by as much as one extra case of cancer for every 10 people exposed. The EPA’s generally acceptable increase in lifetime cancer risk is 1 in 10,000. Ethylene oxide is a gas used to sterilize roughly half of all medical devices and is also used to ensure the safety of certain spices and other food products. It is used to clean everything from catheters to syringes, pacemakers and plastic surgical gowns. Brief exposure isn’t considered a danger, but breathing it long term elevates the risk of breast cancer and lymphoma, the EPA said. In 2016, the EPA updated its assessment of ethylene oxide’s danger based on information about exposed workers at sterilizing facilities, finding the chemical was many times more threatening than previously known. Analysis released by the agency two years later found that cancer risk was too high near some medical sterilization plants and some other facilities that release ethylene oxide. In 2022, the EPA laid out the risk faced by residents who live near medical sterilization facilities. In Laredo, Texas, for example, residents and activists fought to clean up a sterilization facility run by Missouri-based Midwest Sterilization Corp. It was one of 23 sterilizers in the United States that the EPA said posed a risk for people nearby. Sterigenics, a major sterilization company, shuttered a medical sterilization plant in a Chicago suburb after monitoring found emissions spikes in nearby neighborhoods. They eventually settled numerous lawsuits. Many facilities have sharply reduced ethylene oxide emissions in recent years, but those that haven’t will now have to meet stricter requirements, the EPA said. The EPA said it worked closely with the Department of Health and Human Services and other agencies to develop a final rule that centers on public health. The rule provides sufficient time and flexibility for commercial facilities to come into compliance, while offering strong public health protection for nearby communities and minimizing any potential impacts to the medical device supply chain, officials said. Health and Human Services Secretary Xavier Becerra hailed the rule as a victory for workers and fence-line communities that face ongoing dangers from ethylene oxide pollution. Scott Whitaker, president and CEO of the Advanced Medical Technology Association, said medical sterilizers provide a vital service and many devices can’t be sterilized by another method. The industry group appreciates EPA’s update and will be reviewing the rule, Whitaker said in a statement Thursday. The industry has emphasized the need for adequate time to implement the rule, “flexibility in technologies to remove emissions and the ability to achieve EPA targets that would not force resubmission of medical devices for FDA approval,’' Whitaker said. He said he remains hopeful that the rule “will not have a negative impact on the healthcare system or the patients we serve.”
UK scheme to spur take-up of heat pumps delayed after gas lobby pressure 2024-03-14 17:28:00+00:00 - The government has delayed by a year its scheme for spurring the take-up of heat pumps, under pressure from the gas boiler industry. The clean heat market mechanism is intended to force heating installers to fit more low-carbon heat pumps, to meet the UK’s net zero greenhouse gas emissions target and save energy. But the scheme – which requires companies to install a gradually increasing proportion of heat pumps compared with the number of gas boiler installations or face a financial penalty – was inaccurately described as a “boiler tax” by gas heating companies and their lobbyists. Some boiler companies put their prices up by £120, which they said was in reaction to the potential scheme, but which one government insider told the Guardian was unfair price “gouging”. The mechanism was due to come in this April but has been delayed to April 2025, the government said on Thursday. The energy secretary, Claire Coutinho, has also asked the Competition and Markets Authority to investigate the boiler market. Reforms to the boiler upgrade scheme also announced on Thursday will mean households no longer need to upgrade their insulation to take advantage of government heat pump grants. Removing the requirement for cavity wall and loft insulation should save consumers about £2,500 on a heat pump installation, for which the government is offering a £7,500 grant. Heat pumps can cost up to £14,000, but cheaper models are rapidly coming on to the market. Radiators generally run at lower temperatures with heat pumps than with boilers, so homeowners are encouraged to have insulation fitted too, which also reduces emissions, but increases the cost of installation. skip past newsletter promotion Sign up to Down to Earth Free weekly newsletter The planet's most important stories. Get all the week's environment news - the good, the bad and the essential Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Coutinho, who earlier this week called for new gas-fired power generation, said: “We’ve already supported families by making our boiler upgrade scheme one of the most generous in Europe, and now we’re making heat pumps even cheaper and easier to install. This is all part of our wider plan to ensure we cut our emissions and make homes more energy efficient without burdening families with high costs.” Juliet Phillips, an analyst at the E3G thinktank, welcomed aspects of the strategy but urged the government to move faster. “The government must move ahead with laying the legislation as soon as possible – without this, there will be continued speculation that the mechanism has been quietly killed,” she said. David Cowdrey, director of external affairs at the MCS Foundation, a charity that works on low-carbon homes, said: “It is extremely disappointing to see that the government has postponed one of the most important policies for getting the UK off fossil fuel heating. The clean heat market mechanism is crucial to the rollout of heat pumps, which are the only viable option to decarbonising at scale the 17% of UK emissions that are created by heating our homes.” He added: “The government needs to immediately set out plans for how it intends to fill the huge gap in heat pump plans that they have just created. We need clear and consistent policy more than anything, and without that the UK’s target of installing 600,000 heat pumps a year by 2028 is in serious jeopardy.”
3 Millionaire-Maker Artificial Intelligence (AI) Stocks 2024-03-14 17:17:00+00:00 - There have never been more millionaires than today. In fact, according to Statista, there are more than 22 million millionaires in the U.S. alone. That's up from fewer than 8 million in 2000. Undoubtedly, one of the biggest reasons for the rising number of millionaires is the stock market. So, what are some artificial intelligence (AI) stocks that might help push that figure even higher? I have my eye on three. Image source: Getty Images. 1. Palantir Technologies First up is Palantir Technologies (NYSE: PLTR). Up 239% in only 12 months, Palantir is well on its way to making plenty of shareholders wealthier. The company operates a data analytics platform that serves two segments: government and commercial. Its government clients include the U.S. Department of Defense, the U.K. National Health Services, and the U.S. Centers for Disease Control and Prevention. Commercial clients include Morgan Stanley, Airbus, and Merck. Business is booming, as evidenced by the company's fourth-quarter earnings report. Highlights from that report included: Overall revenue growth of 20% year over year. U.S. commercial revenue growth of 70% year over year. U.S. commercial customer count growth of 55% year over year. Free cash flow of $731 million over the last 12 months. In short, businesses (particularly American ones) are racing to sign up for Palantir's AI-driven data analysis. Many organizations -- and their leadership -- find it tough to cut through the haze of data they produce, making it difficult to spot trends and identify opportunities. Palantir offers a remedy -- making it a company worth remembering for long-term growth-oriented investors. 2. Super Micro Computer Arguably the hottest stock on Wall Street, Super Micro Computer (NASDAQ: SMCI) has climbed an eye-popping 1,060% over the last 12 months -- meaning a $1,000 investment last March would have grown to nearly $12,000 today. The company makes much of the physical hardware needed to store, cool, and operate cutting-edge graphics processing units (GPUs). This isn't as straightforward a process as you might imagine -- the H100 GPU, Nvidia's flagship product, is often bundled in groups of eight, with the entire unit weighing between 300 pounds and 400 pounds and generating about as much heat as a patio heater or a commercial convection oven. Story continues What's more, with a unit cost of around $40,000 per H100, it should go without saying that the owners of these high-priced GPUs want to get top performance from their new AI chips -- meaning they're willing to pay up for top-of-the-line server racks and accessories. As a result, Super Micro Computer's sales are going through the roof. In only three years, Super Micro Computer's annual revenue jumped from $3.4 billion to more than $9.2 billion. Moreover, sales are expected to rise to $14.5 billion in 2024 and $19.8 billion in 2025. Granted, the company's stock has gone parabolic, and it's not a wise choice for every investor. But for those wanting a high-octane growth stock that is riding the AI revolution like no other, Super Micro Computer is a name to consider. 3. Microsoft Finally, there's Microsoft (NASDAQ: MSFT) -- a company that has made its share of millionaires, and even a few billionaires. Compared to many of the hottest AI stocks, Microsoft's 10% year-to-date return looks like small potatoes. But this is the world's largest company, with a market cap of $3 trillion. What's more, its track record since CEO Satya Nadella took the helm 10 years ago is fantastic. Under his leadership, Microsoft has grown its annual revenue from $83 billion to $228 billion as its focus shifted to the cloud. MSFT Revenue (TTM) Chart MSFT Revenue (TTM) data by YCharts. In addition, the company continues to innovate. Its latest creation is Copilot for Microsoft 365. As the company puts it: "Microsoft Copilot for Microsoft 365 combines the power of large language models (LLMs) with your organization's data -- all in the flow of work -- to turn your words into one of the most powerful productivity tools on the planet." In practice, this means users will now be able to access real-time, AI-powered tools that are integrated into popular programs such as Word, Excel, Outlook, and PowerPoint. That should drive real-world productivity gains for individuals and businesses -- further cementing Microsoft 365's place as the must-have business software suite. To sum up, Microsoft is the biggest company for a reason. Moreover, given its strong leadership, innovative products, and massive scale, its stock is likely to keep producing millionaires for a long time. Should you invest $1,000 in Super Micro Computer right now? Before you buy stock in Super Micro Computer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Super Micro Computer wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 11, 2024 Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Microsoft and Palantir Technologies. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 3 Millionaire-Maker Artificial Intelligence (AI) Stocks was originally published by The Motley Fool
Energy Dept. Offers $2.3 Billion Loan to Boost Lithium Production 2024-03-14 17:13:03+00:00 - The Energy Department is moving forward on a deal to provide a $2.3 billion loan to Lithium Americas in an effort to shore up domestic supplies of a mineral vital for the production of electric vehicles. If completed, the loan would help finance the construction of a lithium carbonate processing plant at Thacker Pass in Nevada. The plant would be next to a mine site that contains the largest known lithium deposit in North America. Demand for lithium, which is used in the rechargeable batteries that power electric vehicles, has surged as more consumers shift away from gas-burning cars and automakers ramp up production of cleaner vehicles. The United States, however, has lagged behind other countries in producing the metal. Nearly 95 percent of the world’s lithium comes from just four countries: Australia, Chile, China and Argentina. Only 1 percent of the lithium used in the United States is harvested domestically, according to the Energy Department. Lithium carbonate from Thacker Pass could support the production of batteries for up to 800,000 electric vehicles a year, according to the Energy Department. Administration officials also expect the project would create roughly 1,800 jobs during construction and 360 operational jobs.
Tackling inequality vital for next century of growth, IMF head says 2024-03-14 17:00:00+00:00 - The head of the International Monetary Fund has warned that the only way to boost global economic growth over the next century is by tackling soaring inequality to achieve a ninefold increase in living standards. Kristalina Georgieva said world leaders had a responsibility to future generations to build an economy that dealt with global heating, deployed AI technology responsibly and slashed elevated levels of inequality. “We have an obligation to correct what has been most seriously wrong over the last 100 years – the persistence of high economic inequality. IMF research shows that lower income inequality can be associated with higher and more durable growth,” she said. “We simply cannot get to the ‘high ambition scenario’ for growth unless we foster a fairer global economy.” In a speech at King’s College, Cambridge, she argued the world was a turning point, making a comparison with the Great Depression of the 1930s, when the leading British economist John Maynard Keynes wrote his seminal essay Economic Possibilities for Our Grandchildren. She said Keynes had been right to predict that technology gains could deliver an eightfold increase in living standards in 100 years’ time, but that the founding father of modern economics had been too optimistic about how the benefits of growth would be shared. Keynes, who was a fellow and academic administrator at King’s and played an integral role in the creation of the IMF after the second world war, predicted that technology gains driving up productivity would allow for more leisure time with a 15-hour working week. However, Georgieva said the proceeds of growth had been too heavily concentrated among particular groups and in rich countries. “He [Keynes] was also too optimistic about how the benefits of growth would be shared. Economic inequality remains too high, within and across countries,” she said. Setting out two possible scenarios for the next 100 years, developed by IMF staff, Georgieva said the world could expect either a “low ambition” path with global gross domestic product about three times larger and living standards twice as high as today. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Alternatively a “high ambition” scenario based on building a more sustainable and equitable global economy could leave global GDP 13 times larger after a century, with living standards about nine times higher. The Bulgarian economist, who is seeking a second five-year term as IMF managing director after being nominated by a string of European countries to lead the institution, said this would rely on the world pursuing a “different kind of growth” in future. Calling on governments around the world to focus attention on three key priority areas, she said it was vital to address the climate emergency, invest in new technologies such as AI, and invest in people through tackling inequality. “We also recognise the need to put in place better measurement of wealth that goes beyond the traditional GDP, that values not only produced capital, but also nature, people, and the fabric of societies,” Georgieva said. Highlighting Keynes’s maxim that “in the long run, we are all dead” in her speech, she said the economist had meant the phrase as a call to action. “He meant the following: instead of waiting for market forces to fix things over the long run, policymakers should try to resolve problems in the short run,” she said. “And it’s a call to which I for one am determined to respond – to do my part for my grandchildren’s better future. Because, as Keynes put it in 1942: ‘In the long run almost anything is possible.’”
Flames engulf Haitian penitentiary as chaos reigns in Port-au-Prince 2024-03-14 16:53:00+00:00 - Flames erupted inside Haiti's almost empty national penitentiary in Port-au-Prince on Thursday, adding to the chaos already engulfing the capital. Live video of thick, black smoke billowing out from the prison was broadcast on national television. A spokesperson for the national police confirmed to NBC News that there was a fire at the prison but offered no further comment. It wasn't immediately clear who started the blaze. Firefighters arrive to put out a fire at the national penitentiary as police patrol in downtown Port-au-Prince. Odelyn Joseph / AP The poverty-stricken Caribbean nation is being rocked by social and political turmoil as unpopular Prime Minister Ariel Henry announced earlier this week that he's stepping down. Henry has been in Puerto Rico most of this month, leaving a power vacuum that multiple gangs and armed groups have been fighting over, including one being led by Jimmy Chérizier — a former police officer-turned-gangster who goes by the nickname “Barbeque.” Henry has said he would resign and his government would dissolve once a transitional council had been set up. The prime minister's words stand in stark contrast to the scene of armed groups, roaming the streets of Port-au-Prince in recent days with little resistance from authorities. Earlier this month, almost all the prisoners escaped from the now-burning prison when gunmen stormed the facility. The United Nations said Thursday it will soon send humanitarian supplies to Haiti through the neighboring Dominican Republic. While civil unrest plagues the capital city, it's been relatively calm about 130 miles north in Labadee, a popular vacation spot and cruise ship port of call. Despite that peace, Royal Caribbean Cruises said Thursday it'll temporarily steer clear of that destination. “The safety and security of our guests, crew, and communities we visit are our top priority," Royal Caribbean said in a statement to NBC News. "Our Global Security and Intel Team is closely monitoring the evolving situation in Haiti, and in an abundance of caution, we are temporarily making adjustments to sailings visiting Labadee. We will continue to monitor and reassess calls as needed, and will communicate updates with guests directly.”
Analysts Lead These Markets: The Most Upgraded Stocks in Q1 2024-03-14 16:52:00+00:00 - Key Points Analysts' revisions are increasing these markets; CrowdStrike is still the Most Upgraded Stock. Meta Platforms could rise by double-digits as analysts lead it to a new high. Amazon rises to the 3rd position while its stock reaches an inflection point that could lead to significant upside. 5 stocks we like better than CrowdStrike Analysts' activity in Q1 is robust, with results from Q4 outpacing estimates and guidance for tech stocks at least, leading them to raise their targets. As active as the analysts have been, the market leaders and the stocks getting the most upgrades remain the same. The rankings have been juggled, but the stocks that drove the broad market to new highs in 2023 support today's market. With these trends intact, the S&P 500 and NASDAQ Composite will likely continue to advance; the only question is how high, which could be a lot higher based on the outlooks for these Most Upgraded Stocks at the end of Q1 and Q4 2023 earnings reporting. Get CrowdStrike alerts: Sign Up CrowdStrike is the Most Upgraded Stock: Double-Digi Upside Still to Come CrowdStrike NASDAQ: CRWD came out of the Q3 reporting season in the #1 position and retained that following the Q4 cycle. This company’s results, including margin, cash flow, and guidance, led to forty-seven revisions in the last ninety days. The analysts peg the stock at Moderate Buy, a rating that has held steady over the past year but have increased their price targets tremendously. The consensus target is up 50% in the last thirty days with most of the increase following the Q4 release. The consensus implies a 12% upside; most of the freshest targets are near the new high, another 2000 basis points higher. The price action in CrowdStrike is suggestive. The market recently broke to a new high and confirmed support at the critical level. This suggests an inflection point and pivot that puts the previous high at the middle of the new range. In this scenario, CrowdStrike’s share price could increase by nearly $290 to the $500 level. Meta Platforms Stock Price Can Move Higher in 2024 Meta Platforms NASDAQ: META has been featured prominently on the list of Most Upgraded Stocks for over a year. The lead into efficiency and the return to growth, wider margins, and AI-driven outlook left it in 1st position for the year and is sitting in #2. Thirty-nine of the forty-five analysts tracked by Marketbeat issued positive revisions over the last ninety days, and all were revised upward. Consensus implies fair value with the stock at current levels, but all the fresh targets are higher. The high end is another 15% above the current action, and the ceiling may be lifted again. Meta is building momentum that has yet to run its course. Amazon Could Gain Another $100 in 2024 Amazon.com NASDAQ: AMZN is standing tall with results outpacing expectations, AI driving strength in AWS, and analysts raising their targets. The company received thirty-seven price-target revisions from the forty-four covering it, and all are upward. Consensus puts this stock at $197, a significant target because it is a new high. Crossing to new highs would signal a pivot for this market that could lift it by $100 to the $280 range. As it is, the consensus is trending sharply higher, and the high-end range is leading. The high target is $230. NVIDIA Will Trend Higher in 2024: How High is TBD NVIDIA NASDAQ: NVDA is still in the mix, sitting at 4th position with thirty-six revisions in the last ninety days. The consensus target lags the price action and is part of why the market has stalled, but the pause should be short-lived. The consensus target lags the market but is up 240% YOY and led higher by recent revisions. The recent revisions have this stock trading above consensus in the range of $900 to $1200 or 2% to 35% higher. The next catalyst for this market will be the developer conference later this month. It is expected to reveal several new partnerships to drive its newly AI-centric business to new heights. The technical action in NVIDIA shares is vigorous. The market is up nearly 800% in the last eighteen months and is likely to head higher. Assuming the pull-back in price action is a consolidation that leads to continuation, the share could advance an amount equal to the rally that preceded it. In this scenario, shares of NVIDIA could advance $380 from current levels to near $1250. Before you consider CrowdStrike, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CrowdStrike wasn't on the list. While CrowdStrike currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
How did 118 people die in Gaza's Al-Rashid aid convoy violence? 2024-03-14 16:49:00+00:00 - Authorities in Gaza call it a massacre. The Israeli military maintains its forces were acting in self-defense. In the early hours on Feb. 29, thousands of Palestinians gathered on a stretch of seaside road in Gaza City to receive a much-anticipated aid shipment. By dawn, over 100 were dead and hundreds more injured, according to Gazan health authorities. The Israeli military says the majority were trampled or run over in the chaotic surge on the 30 trucks, but witnesses say the civilians were killed by Israeli soldiers, shot by gunfire and tank artillery shells. Israel “lies about the flour massacre,” Salama Maroof, head of the government media office in the Gaza Strip, wrote on X on March 3, asserting that people who died and were wounded “were hit by bullets from its tanks, and some of them were shot by more than one bullet.” For many the incident turned up the international outrage at the war’s humanitarian cost, as deadly force appeared to have been deployed against a desperate and hungry civilian population. Mourners at Al-Shifa hospital in Gaza City, where the bodies of Palestinians killed during the aid convoy chaos were taken. AFP - Getty Images NBC News used open-source video filmed at the scene, clips of drone footage released by the Israel Defense Forces, footage from NBC News’ crew in Gaza, and 10 interviews by phone and on the ground with eyewitnesses and health workers at Al-Shifa Medical Complex, where some of the several hundred casualties were taken, to piece together what happened over a mile-long stretch of road in the hours before dawn that day. Frustration has long been mounting against the Israeli military for what many see as its role in severely restricting aid at border crossings and with ongoing aerial bombardments and ground operations that have made it difficult, and often impossible, to deliver aid. The day before, talk circulated among Gaza City’s residents about an aid convoy arriving overnight. Crowds of people began to gather in Sheikh Iljin, a beach neighborhood in the city’s south. Down the coastal boulevard of Al-Rashid Street, eyewitnesses said that by nightfall, thousands of people had gathered, clustered around bonfires. This convoy was unusual. Rather than being delivered by the United Nations or another international aid agency, it was arranged by Palestinian businessmen and escorted by Israeli tanks “to secure the humanitarian corridor,” according to IDF spokesperson Rear Adm. Daniel Hagari. He said in a filmed statement later on Feb. 29 that aid had been delivered this way the previous four days. An IDF review of the events released March 8 aligned with the timeline witnesses gave NBC News, saying that the convoy and accompanying tanks crossed the checkpoint at 4:29 a.m., and a minute later, troops fired “warning shots” east, followed by opening “fire toward suspects a few meters away” from an IDF tank. However, the accounts diverge about the nature and intensity of the shooting, and how people were killed and injured. When the crowds continued to advance, the IDF said in a statement on Friday, soldiers perceived them as a threat, and “the troops fired precisely toward a number of the suspects to remove the threat.” Shukri Filfil, a local videographer who was at the scene, said he arrived at the Al-Nabulsi roundabout on Al-Rashid Street, along with a crowd of about 70 people, just after 4 a.m. Shortly before the food trucks arrived at 4:28 a.m, he said, Israeli tanks began to move into the area. Then the shooting started, Filfil said. “The shooting was continuous for around three minutes, nonstop,” he said. Panic swelled as the shooting intensified, according to multiple witness accounts and video. Filfil said he hid behind a block and heard people screaming, “A tank, a tank, it is still here,” as a stampede surged. Gaza’s Health Ministry said 118 people were killed and more than 700 wounded. The IDF did not respond to a request for comment from NBC News about the allegations from the U.N., doctors, eyewitnesses and health authorities that most of the injuries were caused by shooting, rather than trampling as the IDF suggested. After a flurry of separate, sometimes contradicting accounts of what happened, the IDF later that same day released a sequence of silent, shortened video clips of thermal imagery drone footage in black and white that appeared to show crowds rushing toward aid trucks and then dispersing in different directions. NBC News was able to geolocate the footage to Al-Rashid Street south of Al-Nabulsi roundabout, but could not independently confirm the date of filming. In the first clip, the drone pans along the street and zooms in and out on large numbers of people crowding around what look like several aid trucks, while others mill around nearby. The next clip shows a different stretch of the same road, with aid trucks traveling northward along the left lane and stationary IDF tanks in the right. IDF video released Feb. 29 shows bodies lying on the ground between what appear to be aid trucks and IDF tanks. IDF Viewers do not see what happens between the two clips, but by the second clip, multiple bodies are visible on the ground between the trucks and IDF tanks, several lying close to, in front of and between the two tanks visible in the footage. It is not clear whether the people are injured or dead. The footage then cuts to a third clip that shows people rapidly moving away from the aid trucks. Some appear to be crawling as they head in the direction of the beach, toward lower ground. A final, blurrier segment shows another aid truck driving but completely surrounded by people, with some on its roof as it moves. In another segment from IDF video released Feb. 29, people rapidly move away from what look like aid trucks and onto lower ground on the beach. IDF NBC News requested the unedited drone footage from the IDF, which it did not provide. Aligning with the accounts of eyewitnesses, footage released by Al Jazeera shows people climbing over sandbanks toward safety amid the sound of gunfire. Red streaks of tracer ammunition, used to help soldiers aim, are seen several times above the crowd. NBC News geolocated the video to about 200 yards south of the roundabout, but could not determine the exact time it was filmed. Filfil said gunfire from the tanks caused a stampede as people fled to safety. He added that although there was a stampede, those “always” occurred around the arrival of food trucks. The crowd that morning, he said, was “less people than usual” due to the trucks’ late arrival. “It was as a result of the continu[ous] shooting,” he said, referring to the scale of death. An NBC News crew filmed the grim aftermath at daybreak. Injured people were transported by donkey cart or carried on wooden pallets. Others were laid out onto the flatbed of an aid truck repurposed to carry those who were killed. Momin Abuowda, a Gaza City resident, told NBC News he saw abandoned bags of flour soaked in blood. A video shared on social media showed a man sifting through the sand, trying to salvage some grains of rice. The next day, a doctor and eyewitnesses who spoke to NBC News disputed Israel’s account of the scale of the shooting, reporting seeing hundreds of victims of gunshot wounds and exploding artillery shells at local hospitals. “Most of these injuries were the result of gunshots, injuries as a result of explosions of artillery shells and tank shells,” said Dr. Mohmmed Mahmoud Eghrad, an emergency room doctor at Al-Shifa Medical Complex, Gaza’s largest hospital. The injuries he saw were not consistent with “pushing or trampling,” he added, estimating that 70% of them would require surgery medics were unable to perform due to the lack of medical supplies at the hospital. Though doctors and witnesses discussed artillery injuries, the IDF did not mention the use of artillery shelling in the incident on Feb. 29 and did not respond to a request for comment about the use of tank artillery. Israeli-manufactured Merkava tanks are widely used by the IDF, which are equipped with 120 mm tank guns, along with a machine gun and a rocket launcher, said retired Army Lt. Gen. Stephen Twitty, a former deputy commander of U.S. European Command. As they exit the muzzle, 120 mm artillery shells explode into thousands of fragmentsOne manufacturer described the shells as capable of “devastating anti-personnel lethality.” Zaid Abed Alal, 36, from Gaza City, who was injured in the incident, was told by doctors at Al-Shifa that he had multiple fractures, both in his ankle and in his upper legs. “I took a tank shell at the bottom of my foot. It penetrated up and took the flesh and the bones,” he said, showing NBC News his leg. He worried that it would have to be amputated, and added that bullets from two other gunshot wounds remained inside his body. “All this just for a sack of flour,” he said.
Look Beyond S&P 500 for Big Winners Excluded From Index 2024-03-14 16:40:00+00:00 - Key Points Dell, The Trade Desk and Apollo Global Management are large-cap stocks that are not part of the S&P 500 but are outperforming the index. Analysts anticipate continued growth and profitability for Dell, The Trade Desk, and Apollo. Institutional investors are showing confidence in these stocks despite their exclusion from the S&P 500. 5 stocks we like better than Apollo Global Management Dell Technologies Inc NYSE: DELL, The Trade Desk Inc. NASDAQ: TTD and Apollo Global Management Inc. NYSE: APO represent a diverse group of companies but have something in common: They're large-cap stocks that aren’t part of the S&P 500 but are outperforming the index. Contrary to popular belief, S&P 500 stocks aren’t necessarily the largest domestic companies. Get APO alerts: Sign Up According to S&P Dow Jones Indices, which oversees the index, “The selection process for the S&P 500 is governed by quantitative criteria—including financial viability, public float, adequate liquidity, and company type—that determine whether a security is eligible for inclusion.” To join the index, a company must have a sizeable enough market capitalization to qualify as a large-cap stock. “It also must have sufficient float, or percentage of shares available for public trading,” says S&P Dow Jones Indices. Stocks like Dell, The Trade Desk and Apollo may outperform the broad index for several reasons, including: Exclusion from the S&P 500 doesn't necessarily reflect inferior fundamentals or growth potential. Being outside the index could mean they're undervalued or underappreciated by investors, presenting buying opportunities. Smaller large-cap stocks may have greater room for growth compared to larger, well-established S&P 500 constituents. Active fund managers seeking excess return beyond what they are getting from the S&P 500 may look beyond the index for outperforming stocks, contributing to potential price appreciation for these large-cap outliers. Dell Beating S&P by Wide Margin The Dell Technologies chart clearly shows the stock’s enormous margin of outperformance versus the S&P 500, and versus other technology stocks in the Technology Select Sector SPDR Fund NYSEARCA: XLK. Dell stock has returned 31.09% in the past month, while the S&P 500 returned 3.15%. Dell has a market capitalization of $78.28 billion, easily qualifying it for S&P 500 membership. The company has essentially been printing money, with a long track record of profitability. Full-year operating income for 2023 was $5.8 billion. Wall Street expects earnings of $7.56 per share this year, an increase of 6%. In 2025, that’s forecast to rise by 13% to $8.57 a share. The Trade Desk Trading in Volatile Fashion Online advertising manager The Trade Desk boasts a market capitalization of $39.19 billion and a one-month return of 8.82%. The company has grown earnings at double- or triple-digit rates in the past seven quarters, and analysts expect more of the same in 2024 and 2025. The Trade Desk chart shows that this is a highly volatile stock, despite its potential for market-beating returns. It has a beta of 1.81, meaning that it’s 81% more volatile than the broader market. “We expect this demand-side platform provider, which helps ad buyers manage programmatic ad campaigns, will benefit from the ongoing growth of digital advertising spending,” wrote Morningstar analyst Michael Hodel in a March 12 research note. Hodel considers the stock overvalued, with a fair value estimate of $52; the stock closed at $80.16 on March 13. The Trade Desk analyst forecasts show a consensus view of “moderate buy” with a price target of $88.93, an upside of 10.93%. Apollo Stock Flying High Apollo Global Management, with a market capitalization of $62.42 billion, is not yet a component of the S&P 500. Apollo stock has outpaced the large-cap index, returning 19.67% in the past three months. The Apollo Global Management chart shows the stock correcting in an orderly fashion above its 50-day moving average. Apollo stock is currently in buy range, trading between that average and its prior high of $115.03. Apollo has something of an arcane business model: It raises capital for, invests in and manages alternative investment vehicles, including private equity and credit transactions. Wall Street expects Apollo to earn $7.79 a share this year, an increase of 16%. CFRA analyst Kenneth Leon, in a March 9 note, said, “We think APO has the right business mix in private credit/fixed income, insurance, and private equity, with less exposure to real estate.” He added that most of the company’s businesses can do well in any interest rate market. Leon said he sees an opportunity for the company in the insurance and private credit markets. → Like Tiny Crypto Retirement Funds (From Crypto 101 Media) (Ad) Before you consider Apollo Global Management, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apollo Global Management wasn't on the list. While Apollo Global Management currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Trading in brewer AB InBev's shares suspended by Belgian regulator 2024-03-14 16:31:00+00:00 - LONDON (Reuters) — Anheuser-Busch InBev's shares were suspended from trading on Thursday pending the publication of a press release, Belgium's Financial Services and Markets Authority (FSMA) said without elaborating. The news comes after U.S. cigarette maker Altria said on Wednesday it would cut its around 10% stake in AB InBev, the world's largest brewer, selling around 35 million shares. Belgian multinational AB InBev plans to buy back $200 million worth of shares. AB InBev did not immediately provide a comment on the share suspension. In its press release on Altria's planned sale, AB InBev said the tobacco company would remain a significant shareholder and that it looked forward to an ongoing relationship. "We remain disciplined in our capital allocation decisions and participating in this offering is consistent with our strategy," AB InBev CEO Michel Doukeris said. The symbol for ABInBev appears at the post where it trades on the floor of the New York Stock Exchange. (AP Photo/Richard Drew) (ASSOCIATED PRESS) James Edwardes Jones, analyst at RBC Capital Markets, said it was unsurprising Altria was selling down its holding in AB InBev. "On balance, we feel that this is likely to act as a short-term brake on ABI's share price but is of minimal longer-term significance," he said in a note. Despite a recent rally, the brewer's share price still remains substantially lower versus levels seen in the last decade. (Reporting by Emma Rumney; editing by Jason Neely)
Rheinmetall hails 'new decade' as defence spending drives up sales 2024-03-14 16:22:00+00:00 - By Rachel More BERLIN (Reuters) -German arms manufacturer Rheinmetall said on Thursday it expected record sales and increased profitability this year, as the war in Ukraine drives up defence spending in the NATO bloc, in a trend set to buoy the company for years to come. Rheinmetall expects to crack the 10-billion-euro ($10.93 billion) mark in sales for the first time in 2024, according to a company forecast that also foresees an operating profit margin of 14-15%, up from 12.8% in 2023. "A new decade of security policy has begun," Chief Executive Armin Papperger said as the group presented its results for 2023, the first full year of the Ukraine war. Consolidated sales rose in 2023 by 12% to just under 7.2 billion euros. In the weapon and ammunition division, sales rose 29% on the year prior, while vehicle systems saw a 15% boost. However, total sales fell short of the company's own target of a range of 7.4-7.6 billion euros. Shares in Rheinmetall were up 3.3% at 0820 GMT. Germany, Kyiv's biggest military supporter in Europe, announced a new defence policy after Russia's invasion of Ukraine in February 2022, with a 100-billion-euro special defence fund created to modernise its armed forces. Other NATO allies have stressed the need for greater defence spending, and Ukrainian demand for ammunition has led to a European drive to ramp up production in that area. As well as booking major orders for Germany and other armed forces in 2023, Rheinmetall said it became an important partner for Ukraine, with "extensive deliveries from the entire product portfolio", including tactical vehicles and ammunition for Gepard anti-aircraft tanks as well as mobile field hospitals. At the end of last year, Rheinmetall's order backlog had climbed to an all-time high of 38.3 billion euros, up from 26.6 billion euros a year earlier. ($1 = 0.9147 euros) (Reporting by Rachel More and Matthias Inverardi; editing by Miranda Murray and Tomasz Janowski)
Average long-term US mortgage rate declines to levels last seen in early February 2024-03-14 16:18:09+00:00 - LOS ANGELES (AP) — Home loan borrowing costs fell for the second week in a row, pulling the average long-term U.S. mortgage rate to its lowest level since early February — good news for prospective home shoppers as the spring homebuying season gets underway. The average rate on a 30-year mortgage dropped to 6.74% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.60%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell this week, pulling the average rate down to 6.16% from 6.22% last week. A year ago it averaged 5.90%, Freddie Mac said. “Despite the recent dip, mortgage rates remain high as the market contends with the pressure of sticky inflation,” said Sam Khater, Freddie Mac’s chief economist. “In this environment, there is a good possibility that rates will stay higher for a longer period of time.” The recent pullback in rates follows a string of rate increases. Mortgage rates rose for most of February as stronger-than-expected reports on inflation and the economy fueled speculation among bond investors that the Federal Reserve would have to hold off on cutting interest rates longer than expected. The Fed has signaled that it will likely cut its key interest rate this year, once it sees more evidence that inflation is falling sustainably back to its 2% target. The Fed’s main interest rate is at its highest level since 2001. Investors’ expectations for future inflation, global demand for U.S. Treasurys and what the Fed does with interest rates can influence rates on home loans. Economists expect that mortgage rates will ease further this year, though most forecasts have the average rate on a 30-year mortgage going no lower than 6% by the end of the year. But that’s not likely to happen until the Fed begins cutting its short-term interest rate, something Wall Street is largely betting won’t happen until June, according to data from CME Group. Despite the choppy trajectory in mortgage rates this year, the average rate on a 30-year home loan is still down from the 23-year high of 7.79% it reached in late October. “Rates are much lower than they were last fall when they hovered near 8%,” said Lisa Sturtevant, chief economist at Bright MLS. “Any downward trend in rates later this spring will bring more buyers and sellers into the market.” The decline in rates since their peak last fall has helped lower monthly mortgage payments, providing more financial breathing room for homebuyers facing rising prices and a shortage of homes for sale. Lower rates helped lift sales of previously occupied U.S. homes by 3.1% in January versus the previous month to the strongest sales pace since August. Still, the average rate on a 30-year mortgage remains well above where it was just two years ago at 4.16%. That large gap between rates now and then has helped limit the number of previously occupied homes on the market by discouraging homeowners who locked in rock-bottom rates from selling.
Best Buy recalls air fryers sold nationwide due to fire, burn and laceration risks 2024-03-14 16:09:00+00:00 - Best Buy is recalling more than 287,000 air fryers sold across the U.S. and in Canada following dozens of complaints of the products overheating, melting or glass shattering, as well as six reports of the products catching fire. The recall involves Insignia Chinese-made Air Fryers and Insignia Air Fryer Ovens sold at Best Buy stores nationwide and online from November 2021 through November 2023 for between $32 and $180, the Richfield, Minn.-based retailer said on Thursday in a notice posted by the Consumer Product Safety Commission. Best Buy disclosed it has received 24 reports of overheating/melting or glass shattering, including six reports of air fryers catching fire. No injuries or property damage have been reported. Recalled Insignia 3.4-qt. Digital Air Fryer model NS-AF34D2. U.S. Consumer Product Safety Commission The products being recalled are Insignia Air Fryers and Insignia Air Fryer Ovens with one of the following model numbers on their underside: NS-AF34D2, NS-AF5DSS2, NS-AF5MSS2, NS-AF8DBD2, NS-AF10DBK2 and NS-AF10DSS2. The units' cooking chamber capacities range from about 3.4 to 10 quarts. Consumers with the recalled air fryers and air fryer ovens should stop using them and visit https://www.recallrtr.com/airfryer for instructions on how to apply for a refund in the form of a check or store credit. Owners of the products shouldn't return the recalled air fryers or air fryer ovens to Best Buy stores. Best Buy has contacted all known purchasers directly, the company said. About 187,400 of the fryers were sold in the U.S. and roughly 99,900 were sold in Canada.
Southwest Stock Signals the Mother of all Entry Opportunities 2024-03-14 16:07:00+00:00 - Key Points Shares have been selling off hard since Monday’s update. However, there are signs that the selloff is overdone and shares are due a bounce. One team of analysts is calling for a 40% upside from current levels. 5 stocks we like better than Southwest Airlines For a stock that has led its peers for so long, Southwest Airlines Company NYSE: LUV has been having a tough time recently. While it was able to catch some of those gains that have been sweeping across equities since November, this week’s 20% drop has given up much of those. Coming at a time when indices like the benchmark S&P 500 index or the tech-heavy NASDAQ are sitting right at all-time highs, it must be a bitter pill to swallow for investors. But for those of us on the sidelines, is there a sneaky buy opportunity opening up? Let’s jump in and take a look, starting with the reasons behind this week’s fall. Get Southwest Airlines alerts: Sign Up While Southwest’s shares have been selling off since 2021, the 50% rally they’d been working on from November through last week was starting to look like it could have enough momentum to turn the multi-year downtrend into a fresh multi-month uptrend. But an update this past week from management has sucked the life out of that recovery rally, for now at least. Negative Revisions to Key Metrics It started with a downward revision to the company’s forward guidance for several key metrics, such as Revenue per Available Seat Mile (RASM). Having previously told investors they expected it to grow between 2.5-4.5%, Southwest is now expecting its RASM growth to land somewhere between 0-2% for the current quarter. The company’s fuel costs per gallon were also increased, as was its interest expense outlook. For a company that was working so hard to prove to the market that it was turning things around, this week’s update was a serious momentum killer. It also didn’t help that, to top it all off, Southwest is now expecting to deliver a net loss for the first quarter of the year. Shares gapped down hard on Tuesday and haven’t really stopped selling since. But such has been the strength of the fall, almost 20% in just 4 days, that Southwest shares are suddenly looking way oversold. Signs That the Selling is Overdone for Southwest Stock This has already been picked up by the guys over at Argus Research, who upgraded their rating on Southwest from Hold to Buy in the aftermath of Monday’s update. They actually came out quite bullish on the stock, noting that they’re not as negative on the company’s RASM outlook, and they went so far as actually to boost their EPS estimate by 20%. The team there also put a fresh $40 price target on Southwest shares, which has only become more appealing as the stock has continued selling in the days since. As of lunchtime on Thursday, that was pointing to a targeted upside of some 40%, which should be enough to tempt even the more risk-averse investor. Southwest Stock Technicals Supporting the Bulls The argument for looking at this as an entry opportunity is further strengthened by 2 key technical factors. The first is the fact the stock is now back trading at a decent support line around the $27 mark. This is where the bears ran out of steam when they tried to snuff out the end-of-year rally back in January, and it should prove a solid line of support to base an entry around this time too. Secondly, the stock’s relative strength index (RSI) is already at 25, indicating extremely oversold conditions, which can often precede a sharp bounce. For context on just how steep this week’s selloff has been, it was only last week that Southwest’s RSI was verging on overbought levels. Conclusion Investors should watch for signs the selling is running out of momentum, such as a bounce off the lows into a close or a narrowing of the daily range. If the bears are unable to keep this up until next week, then the argument that this is an overreaction will gain even more merit. And with a $40 price target already being floated around, things could get interesting pretty quickly. → Claim Your Complimentary Bitcoin Reward (From Crypto Swap Profits) (Ad) Before you consider Southwest Airlines, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southwest Airlines wasn't on the list. While Southwest Airlines currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Nebraska governor blames university leadership for AD Trev Alberts’ sudden departure for Texas A&M 2024-03-14 16:01:06+00:00 - Gov. Jim Pillen said Nebraska athletic director Trev Alberts’ sudden decision to take the same job at Texas A&M was disappointing, and he implored the university’s board of regents Thursday to act quickly to fill vacant leadership positions. Pillen, a former regent who played football for the Cornhuskers from 1976-78, issued a “call for action” less than 24 hours after Alberts’ announcement. “I am deeply disappointed by Trev Alberts’ decision to leave so soon after restating his commitment to Nebraska and I don’t fully understand or know his reasons why,” the Republican governor said in a statement. “I do know that the time for reflecting on the failures of University leadership, which led to his decision, must come later. Now is the time to act.” Alberts four months ago signed a contract extension through 2031. His annual base salary this year was $1.7 million, and a clause in his new contract promised adjustments as necessary to keep him among the top three highest-paid Big Ten athletic directors. Terms of his contract at Texas A&M were not announced. Alberts has not responded to requests for comment. In recent interviews, he had expressed frustration that regents had not hired a president to replace Ted Carter, who was named Ohio State’s president last August. Alberts often praised Carter’s leadership and for helping him land Matt Rhule as football coach in 2022, as well as for work on the plan for a $450 million renovation to Memorial Stadium. Alberts reported directly to Carter rather than the campus chancellor, contrary to tradition. “It has been 206 days since Ted Carter announced his departure as president,” Pillen said. “It is unacceptable that the University’s elected leaders have failed during this time to appoint permanent leadership. It is imperative that they act urgently and decisively to end this uncertainty. Without any delay, they should support Interim President Chris Kabourek’s efforts to immediately appoint a new permanent athletic director.” Board of Regents chairman Rob Schafer, in response to Pillen’s criticism, pointed out the search resulting in Carter’s selection took seven months and the search for Carter’s predecessor, Hank Bounds, lasted a year. “We are all disappointed to see Trev leave,” Schafer said. “We had hoped he would be a Husker for many years, and at the leadership level we certainly took significant steps to make that happen. The reality in professional life is that sometimes people choose to pursue different opportunities.” ___ Get alerts on the latest AP Top 25 poll throughout the season. Sign up here. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
US parents: are you still supporting your adult children financially? 2024-03-14 16:01:00+00:00 - Nearly half of US parents provide some kind of financial support to their adult children, who are grappling with higher food and living costs than they did, a new study has found. The study – conducted by Savings.com – says young, working-class Americans were not substantially benefiting from the recovery of the country’s economy, as “evidenced by high employment, falling inflation, and economic growth”. That has forced many of them to continue to rely on their parents to help cover living expenses. We’d like to hear from US parents who support or have been supporting their adult children financially, as well as from US adults who receive money from their parents. We’re interested to hear how this dynamic affects people’s families, lifestyles and plans for the future.
Wholesale inflation rose 0.6% in February, much more than expected 2024-03-14 16:00:00+00:00 - Wholesale prices accelerated at a faster-than-expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy. The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That was higher than the 0.3% forecast from Dow Jones and comes after a 0.3% increase in January. Excluding food and energy, the core PPI accelerated by 0.3%, compared with the estimate for a 0.2% increase. Another measure that also excludes trade services rose 0.4%, compared with the 0.6% gain in January, and was above the estimate for a 0.2% advance. On a year-over-year basis, the headline index increased 1.6%, the biggest move since September 2023. The data did little to dent what looks like a positive open on Wall Street. Futures tied to major stock market indexes all were positive, though Treasury yields rose as well. A busy morning for economic data also showed that retail sales rebounded, up 0.6% on the month, according to Commerce Department data that is adjusted seasonally but not for inflation. The increase helped reverse a downwardly revised 1.1% slump in January, but was still below the estimate for a 0.8% rise. Also, initial filings for unemployment insurance nudged lower to 209,000 last week, a decrease of 1,000 and below the estimate for 218,000, the Labor Department reported. Continuing claims edged higher to 1.81 million, though the previous week’s count was revised sharply lower. The market focused on the PPI release, which comes two days after the consumer price index, which measures what consumers pay in the marketplace, showed that inflation was slightly higher than anticipated on a year-over-year basis. The PPI is considered a leading indicator for inflation as it indicates costs early in the supply chain. The BLS reported that about two-thirds of the rise in the headline PPI came from a 1.2% surge in goods prices, the biggest increase since August 2023. As with the CPI, the acceleration was traced to energy prices, with saw a 4.4% increase in the final demand measure. Gasoline prices jumped 6.8% at the wholesale level. Services costs increased 0.3%, boosted by a 3.8% surge in traveler accommodation services. Retail shows rebound On the retail sales side, the data indicated that consumers kept ahead of CPI inflation, which increased 0.4% on the month, though sales were still sluggish. Excluding auto, retail sales rose 0.3%, one-tenth of a percentage point below expectations. Motor vehicle parts and dealers saw an increase of 1.6%, second only to the 2.2% gain for building material and garden centers on the month. Despite slumping prices, gasoline stations reported an increase of 0.9%. Electronics and appliance sales rose 1.5% while miscellaneous store sales climbed 0.6% and restaurants and bars were up 0.4%. Retail sales posted a 1.5% gain on a year-over-year basis, below the 3.2% increase in the CPI. Inflation-related data is being watched closely on Wall Street, ahead of the Federal Reserve’s two-day policy meeting starting next Tuesday. While the central bank is almost certain to hold its benchmark interest rate in place, markets will be looking for clues about the future of monetary policy. Futures pricing is pointing toward the rate-setting Federal Open Market Committee to start cutting interest rates in June, with three quarter-percentage point decreases expected this year. At the meeting, policymakers will update their outlooks for rates, economic growth, inflation and unemployment.
Jeff Bezos’s rocket company could race SpaceX to the moon. 2024-03-14 15:30:07+00:00 - Which billionaire space company will get to the moon first: Elon Musk’s SpaceX or Jeff Bezos’ Blue Origin? At first glance, SpaceX seems to have a huge head start. It is about to launch the third test flight of Starship. A variation of Starship is scheduled to take NASA astronauts to the surface of the moon as soon as September 2026. By contrast, Blue Origin has yet to launch anything into orbit, and its contract with NASA for a lunar lander for astronauts is for a mission that is launching in 2030. But Blue Origin might still get there first. SpaceX faces major challenges with Starship, which is as tall as 16-story building, while Blue Origin plans to send a smaller cargo lander to the moon by the end of next year.