On Monday, JPMorgan downgraded Hertz Global Holdings (OTC:), Inc. (NASDAQ:HTZ) stock from Neutral to Underweight, citing concerns over travel trends, fleet depreciation, and potential litigation costs. The firm also removed its previous price target for Hertz, pointing to the high financial leverage of the company and the uncertain outlook for used vehicle prices. According to the analyst, the downgrade reflects lower earnings before interest, taxes, depreciation, and amortization (EBITDA) estimates, with a forecast of $325 million in 2025, down from the prior estimate of $425 million. This adjustment implies a valuation lower than the previously set December 2024 price target…
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Kenvue CEO Thibaut Mongon at the New York Stock Exchange for its initial public offering, May 4, 2023.Source: NYSEActivist investor Starboard Value has a large stake in Kenvue, which spun out of Johnson & Johnson in mid-2023, according to people familiar with the matter.The activist is looking for the company to improve its share price, said the people, who requested anonymity to discuss private information freely. CNBC could not learn size of the stake nor Starboard’s specific plans. Starboard’s Jeff Smith is expected to discuss the activist’s plans for the company in detail at 13D Monitor’s Active-Passive Investor Summit on…
Image source: Getty Images Netflix (NASDAQ: NFLX) stock soared a further 10% last week after its latest Q3 earnings report released Thursday (17 October) was a blockbuster hit. Thanks to a new advertising tier and a crackdown on password-sharing, the streaming giant’s raked in record profits. The stock now looks set to skyrocket as investors anticipate even more growth in the coming months. While advertising revenue’s on the rise, it’s cautious about its impact on overall revenue next year. Nevertheless, the company’s subscriber base continues to expand, reaching a staggering 282.7 million worldwide. Operating profit margins were 29.6%, beating July…
DURHAM, N.C.–(BUSINESS WIRE)–Precision BioSciences, Inc. (Nasdaq: DTIL), a clinical stage gene editing company utilizing its novel proprietary ARCUS ® platform to develop in vivo gene editing therapies for sophisticated gene edits, today announced that it will participate in the following upcoming investor conferences. Longwood Boston CEO ConferenceDate: Monday, October 28, 2024Time: 11:10 AM ETExpanding Platform PotentialFormat: Panel Guggenheim Inaugural Healthcare ConferenceDate: Monday, November 11, 2024Time: 3:00 PM ETLocation: InterContinental BostonFormat: Fireside ChatWebcast Link: Register Here A live webcast for the Guggenheim Inaugural Healthcare Conference will also be accessible on Precision’s website in the Investors section under Events & Presentations at…
Madison Investments, an investment advisor, released its “Madison Investors Fund” third-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund (Class Y) appreciated 7.80% compared to a 5.89% return for the S&P 500 index. In the YTD, nine months period, the fund returned 16.96% compared to a 22.08% return for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.Madison Investors Fund highlighted stocks like Brookfield Asset Management Ltd. (NYSE:BAM), in the third quarter 2024 investor letter. Brookfield Asset Management Ltd. (NYSE:BAM) is…
Duke announced last week that it fulfilled its pledge to become carbon neutral by 2024, one of only 14 U.S. colleges and universities to reach the milestone. Over the past 17 years, the University has reduced its greenhouse gas emissions by 31% despite growing its physical footprint by 27% and its campus population by 24%. The achievement was made possible by reductions in energy use and investment in renewable sources, as well as the purchase of $4 million worth of “high-quality” carbon offsets. “This is a remarkable accomplishment and a critical milestone for the Duke community,” President Vincent Price said.…
As you sit in a carbon-neutral building, drinking a carbon-neutral coffee with carbon-neutral milk and munching on your carbon-neutral mooncake, you open your carbon-neutral computer and arrange the delivery of a package to a carbon-neutral locker. Then you walk to your car, powered by a carbon-neutral battery, and drive to the airport for your carbon-neutral flight to a carbon-neutral event … But are you really being carbon neutral? “Carbon neutrality” is achieved when the CO2 released into the atmosphere by an activity is successful balanced out by an equivalent removal of CO2. If an individual, company or country can take…
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Tech led US stocks lower before the bell on Monday as investors braced for a packed week of top-tier earnings that could drive or drag on a record-setting rally.S&P 500 futures (ES=F) dropped roughly 0.3%, coming off a fresh all-time closing high and a sixth weekly win in a row. Dow Jones Industrial Average futures (YM=F) edged 0.2% lower, while contracts on the tech-heavy Nasdaq 100 (NQ=F) shed 0.6%.Whether records keep rolling in rides in large part on whether corporate results beat high expectations. Earnings season ramps up this week, as over 100 S&P 500 companies are lined up to…
Image source: Getty Images Earlier this month, we hit the two-year anniversary of the start of the current S&P 500 bull market. It’s fair to say it’s been an incredible two years for investors – over this period the stock market index has risen about 60%. Is it time to bank some profits for my ISA after this huge bull market run? Let’s discuss. My S&P 500 stocks I own quite a few S&P 500 stocks in my portfolio. Currently, I’ve got large positions in ‘Magnificent 7’ stocks Amazon (NASDAQ: AMZN), Apple, Nvidia, Alphabet, and Microsoft. I’ve also got substantial…