On Monday, Morgan Stanley adjusted its stance on Caterpillar Inc. (NYSE:), shifting its rating from Equal-weight to Underweight and revising its price target to $332 from the previous $349. The firm highlighted growing evidence of a potential downturn in the de-stocking of U.S. construction equipment as a key reason for the downgrade. The downgrade comes amid concerns about U.S. Non-Residential construction activity, which Morgan Stanley has been cautious about throughout the year. The firm anticipates that several factors, including optimistic expectations of growth driven by near-shoring, normalizing supply chains leading to better product availability, an increasingly competitive market, and deteriorating…
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Editor’s Note: This is the first in a series of articles that challenge the conventional wisdom that stocks always outperform bonds over the long term and that a negative correlation between bonds and stocks leads to effective diversification. In it, Edward McQuarrie draws from his research analyzing US stock and bond records dating back to 1792. CFA Institute Research and Policy Center recently hosted a panel discussion comprising McQuarrie, Rob Arnott, Elroy Dimson, Roger Ibbotson, and Jeremy Siegel. Laurence B. Siegel moderated. The webinar unveils divergent views on the equity risk premium and McQuarrie’s thesis. Subscribe to Research and Policy…
CEO and CIO of Astoria Advisors, John Davi, launched his firm’s third ETF, Astoria US Quality Growth Kings ETF (GQQQ), this October. Source link
As global companies rush to offset emissions, Africa is becoming a focal point in the carbon-credit market, but greater transparency and fairness is needed before this mechanism will benefit the continent as much as much as it does the multinationals. Source link
Image source: Getty Images Even though the FTSE 250 is marginally down over the past month, one growth share in the index has jumped almost 30% over the same period. The clear divergence not only makes me interested in seeing what drove the move, but also could provide me with a solid stock to buy to give my portfolio a boost to end the year. The brief backstory The stock I’m referring to is Carnival (LSE:CCL). Investors will remember that the global cruise line operator was hit exceptionally hard during the pandemic. The confined ship spaces and travel lockdowns meant…
Invest in the World Health Organization for a healthier, safer world for all.We all value our health and the health of those close to us. Yet despite great strides in science and innovation our health is under threat, even in the most developed countries. As leaders in health, we have a responsibility to ensure the health and safety of our citizens, and we must do so equitably. No one should be left behind. We know this is a necessary investment to help ensure and build the wealth of countries and to establish trust in governments, global institutions and multilateral approaches…
NCR Voyix (NYSE: NYSE:) sustained its Buy rating and $20.00 price target from Needham. The endorsement follows recent investor meetings in Southern California with CEO David Wilkinson and Head of IR Alan Katz. The dialogue with management left the firm confident in the company’s execution of its strategy, which focuses on increasing platform conversions and acquiring new customers. The firm’s analysis suggests that NCR Voyix’s strong presence in the retail and restaurant sectors, combined with robust market demand, positions the company for financial improvement. This optimism is further bolstered by recent initiatives, including a digital banking sale and an original…
(Bloomberg) — There’s an unusual divergence in Corporate America’s profit outlook this season: while analysts have cut forecasts, company guidance points to another strong quarter.Data compiled by Bloomberg Intelligence show analysts expect S&P 500 firms to report a 4.2% increase in third-quarter earnings versus a year earlier, down from a 7% forecast in mid-July. Guidance by the firms, on the other hand, implies a jump of about 16%.Gina Martin Adams, chief equity strategist at BI, said the dichotomy was “unusually large,” and the significantly stronger outlook suggests “companies should easily beat expectations.”“Margins should keep marching higher as companies emphasize efficiency…
In a significant move towards sustainable AI infrastructure, Zen42.ai has officially joined the New Zealand Green HI-City project, led by Mobii Green Energy Group and New Zealand’s North Rakaia Power Company. The project, which aims to establish the world’s first green hydrogen-powered data center, is set to raise $2 billion in investments and integrate 850 MW of solar power, 300 MW of wind power, and green hydrogen production facilities to support a 150 MW AI data center powered entirely by green energy. Zen42.ai, co-founded by Josh Chen, Kenny Tseng, and Enoch Kang, brings its expertise in decentralized AI infrastructure and…
Traders work on the floor of the New York Stock Exchange during morning trading in New York City. Michael M. Santiago | Getty ImagesStock futures were little changed Monday as investors waited to assess whether the next batch of key corporate earnings could power the market to more records.Futures on the Dow Jones Industrial Average traded neat the flatline. S&P 500 index futures rose slightly, while Nasdaq-100 futures gained 0.2%. Bank of America, Goldman Sachs and Johnson & Johnson report their latest results on Tuesday before the market opens, while Morgan Stanley and United Airlines are set to release results Wednesday. Walgreens Boots Alliance, Netflix…