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Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.
Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada
Morgan Stanley reiterates Starbucks as overweight Morgan Stanley said it's standing by its overweight rating on Starbucks shares. Morgan Stanley upgrades Pepsi to overweight from equal weight Morgan Stanley said the beverage giant is undervalued. Morgan Stanley initiates Ball Corporation as equal weight Morgan Stanley initiated the beverage can company and says the stock is fairly valued right now. Morgan Stanley names LifeStance a top pick Morgan Stanley named the mental health company a top pick on Monday. Morgan Stanley reiterates Micron as underweight Morgan Stanley raised its price target on the stock to $78 per share from $74.75 and said it's sticking with its underweight rating heading into earnings later this week.
Persons: KeyBanc, Morgan Stanley, it's, Telsey, ESAB, Mizuho, Goldman Sachs, Tesla, Raymond James downgrades, Raymond James, LifeStance, Wolfe, Bernstein, Truist, Wells, Wells Fargo, F2Q Organizations: Apple, JPMorgan, 1Q, Meta, HSBC, Nvidia, Netflix, RBC, Howmet Aerospace, York Community Bank, Pepsi, Ball, Citi, Micron, IT, Downside, Bank of America, Taiwan Semiconductor, Pinnacle, of America, Pinnacle West Capital Corp, ISI, UBS, CCL Locations: Berlin, underperform, Taiwan, Arizona, Underperform
PLD Space/Handout via REUTERS/File Photo Acquire Licensing RightsMADRID, Oct 20 (Reuters) - Spanish rocket company PLD Space plans a first orbital launch from French Guiana in the first quarter of 2026, after it carried out the first fully private European rocket launch earlier this month, it said on Friday. PLD will use the data gathered with the 30 million euro ($32 million) suborbital test to develop the larger Miura-5, a full orbital launcher. So far, they have identified 1,000 elements for improvement to develop Miura-5, it said. PLD Space said it expects to sign the first binding agreements with clients next year. Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January.
Persons: Miura, Raul Torres, Raul Verdu, Emma Pinedo, Inti Landauro, Hugh Lawson Organizations: El, REUTERS, Rights, Spanish, Miura, Virgin Orbit, Boeing, Thomson Locations: Huelva, Spain, Rights MADRID, French Guiana, Guiana, Madrid, Britain
MADRID, Oct 7 (Reuters) - Spanish company PLD Space launched its reusable Miura-1 rocket early on Saturday from a site in southwestern Spain, carrying out Europe's first fully private rocket launch and offering hope for the continent's stalled space ambitions. The Miura-1 rocket, named after a breed of fighting bulls, is as tall as a three-storey building and has a 100-kg (220-pound) cargo capacity. A first attempt to launch the Miura-1 rocket in May was abandoned due to strong high-altitude winds. Competitors lining up to join the race to launch small payloads include companies in Scotland, Sweden and Germany. In July, the last launch of Europe's largest rocket, the premier Ariane 5 space launcher, took place at the European spaceport in Kourou, French Guiana.
Persons: Miura, Italy's Vega, Vega, Aislinn Laing, David Alire Garcia, Valentine Hilaire, Will Dunham Organizations: Space, Virgin Orbit, Boeing, Competitors, Ariane, European Space Agency, Thomson Locations: MADRID, Spanish, Spain, Huelva, Britain, Scotland, Sweden, Germany, Kourou, French Guiana, Europe, Russia, Ukraine
MADRID (Reuters) - Spanish startup PLD Space will attempt a test launch of its reusable Miura-1 rocket early on Saturday, spearheading a new generation of 'microlaunchers' after an aborted attempt in June. "The day has arrived," Raul Torres, PLD Space chief executive and co-founder of PLD Space, wrote on social media platform X, previously known as Twitter. Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January. PLD Space's Miura-1 rocket, named after a breed of fighting bulls, is as tall as a three-storey building and has a 100-kg (220-pound) cargo capacity. Competitors lining up to join the race to launch small payloads include companies in Scotland, Sweden and Germany.
Persons: Raul Torres, Space's Miura, Italy's Vega, Vega, Emma Pinedo, Tim Hepher, Tim Hepther, Aislinn Laing, Edmund Blair Organizations: Spanish, Space, Twitter, Virgin Orbit, Boeing, Ariane, European Space Agency Locations: MADRID, Huelva, Spain, Britain, Europe, Russia, Scotland, Sweden, Germany, Kourou, French Guiana
Spain's PLD Space counts down to test rocket launch from Europe
  + stars: | 2023-10-06 | by ( ) www.reuters.com   time to read: +3 min
PLD Space/Handout via REUTERS/File Photo Acquire Licensing RightsMADRID, Oct 6 (Reuters) - Spanish startup PLD Space will attempt a test launch of its reusable Miura-1 rocket early on Saturday, spearheading a new generation of 'microlaunchers' after an aborted attempt in June. The rocket is due to lift off on its suborbital test mission at 2 a.m Spanish time on Saturday (0000 GMT) from Huelva in southwest Spain, marking what its designers say will be Europe's first fully private rocket launch. "The day has arrived," Raul Torres, PLD Space chief executive and co-founder of PLD Space, wrote on social media platform X, previously known as Twitter. Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January. In July, the last launch of Europe's largest rocket, the premier Ariane 5 space launcher, took place at the European spaceport in Kourou, French Guiana.
Persons: Raul Torres, Space's Miura, Italy's Vega, Vega, Emma Pinedo, Tim Hepher, Tim Hepther, Aislinn Laing, Edmund Blair Organizations: REUTERS, Rights, Spanish, Space, Twitter, Virgin Orbit, Boeing, Ariane, European Space Agency, Thomson Locations: El, Huelva, Spain, Rights MADRID, Britain, Europe, Russia, Scotland, Sweden, Germany, Kourou, French Guiana
This time around, the surge in global interest rates meant banks contributed half the world's dividend growth and drove a quarter of Europe's increase. At the same time, U.S. dividend growth slowed for the sixth consecutive quarter. "But the positive effect on bank margins from the end of years of ultra-low interest rates is very powerful and is driving dividend payouts". The second quarter marks a seasonal high point for Japanese dividends and payouts there rose 8.4% on an underlying basis. Its largest dividend payer, carmaker Toyota (7203.T), accounted for one third of the underlying increase with a 25% hike, despite lower profits.
Persons: Dado Ruvic, Janus Henderson, Ben Lofthouse, Lofthouse, Eli Lilly, Marc Jones, Alex Richardson Organizations: REUTERS, Companies, Global Equity, UnitedHealth Group, Intel, Blackstone, Toyota, HK, Petrobras, PETR4, Thomson Locations: Europe, Italy, Spain, Britain, Ukraine, U.S, Asia, China, Brazil, Colombia
Blackstone deal is a bright spot in gloomy sector
  + stars: | 2023-06-26 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, June 26 (Reuters Breakingviews) - The U.S. commercial real estate industry is mired in gloom, but some pockets are still sunny. The portfolio includes 14 million square feet of industrial properties in cities like Atlanta, Phoenix and Dallas, and the deal is premised in part on rising rents. According to the two companies, the net operating income generated by the warehouses is 4% of the acquisition price. Meanwhile, listed real estate investment trusts which own industrial warehouses trade at a narrowing discount to net asset value, according to S&P Global Market Intelligence. In a gloomy sector, so-called big boxes are a bright spot.
Persons: Steve Schwarzman, Avison Young, Jennifer Saba, Aston Martin, Peter Thal Larsen, Oliver Taslic Organizations: YORK, Reuters, U.S, P Global Market Intelligence, Twitter, Siemens, Telecom Italia, Vivendi, Thomson Locations: Atlanta, Phoenix, Dallas, Canada
June 26 (Reuters) - Prologis Inc (PLD.N) said on Monday it has agreed to buy 14 million square feet of industrial properties from real estate funds affiliated with Blackstone (BX.N) for $3.1 billion in an all-cash deal. It currently owns 1.2 billion square feet of logistics real estate in 19 countries. With near record-low vacancy, logistics remains a high conviction theme for us," Nadeem Meghji, head of Blackstone Real Estate Americas, said. Prologis and Blackstone have completed more than a dozen transactions together in the past 11 years, according to the statement. Eastdil Secured, Barclays, BofA Securities, Citigroup Global Markets, Deutsche Bank Securities, Goldman Sachs, J.P.Morgan Securities, Morgan Stanley, PJT Partners and Wells Fargo acted as financial advisers to Blackstone.
Persons: Nadeem Meghji, Prologis, Blackstone, Eastdil, Goldman Sachs, Morgan Stanley, Wells Fargo, Kannaki, Shilpi Majumdar Organizations: Prologis, Blackstone, Estate, Duke Realty Corp, Barclays, BofA Securities, Citigroup Global Markets, Deutsche Bank Securities, J.P.Morgan Securities, PJT Partners, Thomson Locations: Atlanta , Washington DC , California, Dallas, Las Vegas , New York, Phoenix, South Florida, U.S, Bengaluru
MADRID, June 14 (Reuters) - Spanish startup PLD Space has signed a memorandum of understanding with France's Arianespace to develop joint services to launch small satellites into orbit, the Spanish company said on Wednesday. The agreement will allow PLD Space to offer its customisable services to Arianespace customers, it said in a statement. It plans to gradually increase its capacity to 10 to 12 launches per year by the end of this decade. Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January. Arianespace, which launches satellites from French Guiana, is majority owned by ArianeGroup, a joint venture between Airbus (AIR.PA) and Safran (SAF.PA).
Persons: France's Arianespace, Ezequiel Sanchez, Safran, Emma Pinedo, Inti Landauro, Mark Potter, Richard Chang Organizations: Virgin Orbit, ArianeGroup, Airbus, Thomson Locations: MADRID, Spanish, Spain, Britain, Guiana
PLD Space's test is set to be its first step in the race to put small satellites into space and capture a slice of a potential trillion-dollar market. The launch from a military aerospace research centre in Huelva, southern Spain, would have been the first in Western Europe by a private company. Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January. PLD Space's "Miura 1" rocket, named after a breed of fighting bulls, is as tall as a three-storey building and has a 100-kg (220-lb) cargo capacity. Reporting by Jon Nazca and Inti Landauro Editing by Emma Pinedo and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Miura, Read, Jon Nazca, Emma Pinedo, Mark Potter Organizations: Virgin Orbit, Inti, Thomson Locations: Spanish, El, Almonte, Huelva, Spain, HUELVA, Western Europe, Britain, French Guiana
May 3 (Reuters) - Median pay for top U.S. CEOs rose 7.7% last year to a record $22.3 million, a new study found, as big stock awards helped the group stay ahead of inflation while U.S. workers' pay fell behind. Pay among the CEOs rose faster than for U.S. workers in 2022 despite tight labor markets. Total return for the companies whose CEO pay was studied was negative 11%. He added that amid the macroeconomic uncertainty, "There's still a little more of this incentivizing of executives that's leading to the increases in CEO pay." "Our CEO’s compensation is and will continue to be 100% performance based," the spokesperson said.
After slumping 28% last year, the S&P 500 real estate sector (.SPLRCR) has gained about 1% in 2023, lagging an 8% rise for the overall S&P 500 (.SPX). Real estate is the only one of the 11 S&P 500 sectors to underperform the benchmark index in both 2022 and so far in 2023. The real estate sector has slumped 2% since SVB's troubles came to light on March 8, compared to a 4% rise for the S&P 500. “There is nothing about the current banking situation ... that made life easier for real estate companies,” said Peter Tuz, president of Chase Investment Counsel. S&P 500 real estate company earnings are expected to fall 0.3% this year after rising almost 11% in 2022, according to Refinitiv IBES.
Meanwhile, BlackRock is part of another group investing $650 million to build chargers along freight routes. Because port real estate is at a premium, most early drayage charging projects will be "behind the fence" on trucking company property, experts said. Electric trucks cannot operate without chargers, but it does not make sense to build chargers if drivers are not using electric trucks. Prologis, the biggest U.S. warehouse owner, created its mobility business to install electric truck chargers and solar panels. "A marriage between real estate and energy infrastructure" will be needed to accelerate the transition to electric-powered trucking, Prologis Mobility's Holland said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer: If there was weakness in E-Commerce then PLD should have less than 97 percent occupancyJim Cramer breaks down his thoughts on E-Commerce and PLD.
Also, earnings season is just kicking off, when we'll learn much more about what companies are seeing on the ground. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. People shop at the Pioneer Supermarkets on January 12, 2023 in the Flatbush neighborhood of Brooklyn borough in New York City.
Evercore ISI names Apple as a top pick in 2023 Evercore said it sees 2023 as a "moonshot" year for Apple. MKM names Walmart a top 2023 pick MKM said it sees further share gains for Walmart in 2023. " JPMorgan names Eli Lilly a top 2023 pick JPMorgan said Eli Lilly is "best-in-class." Canaccord names Yeti and Traeger top 2023 picks Canaccord says Yeti should hold up well in a recessionary environment. YETI Holdings (YETI : BUY, $58 PT): We believe the core YETI consumer should hold up relatively better in a recession as it skews a bit higher end.
But in a year like 2022 when stocks are down, real assets can suddenly look a lot more attractive to investors. On the other hand, real estate has been a relatively weak performer this year due to its inverse correlation with interest rates. Year-to-date the Lazard Real Assets fund is beating 85% of its peers, down 5.7% versus its category average of a negative 12% return. "It's gone from a second-class in the real estate space to now an integral part of the supply chain," he explained. Finally, in the infrastructure space McGoey highlighted Targa Resources (TRGP) as a key midstream player.
With north of 50 companies reporting so far, third quarter earnings (and fourth quarter guidance) have not turned into the apocalypse that was feared when FedEx slashed earnings expectations on Sept. 15. Since then, however, many companies have reported, and while overall earnings are inching lower and guidance is cautious, they are not being slashed. In the last 24 hours, Netflix, United Airlines, JB Hunt, Procter & Gamble and Travelers have all reported earnings above expectations. A beat, but slightly lower guidance? As it was with the last quarter, Prologis and the REITs are starting to rally: it's up 6% in the last few days.
Here are the biggest calls on Wall Street on Monday: Morgan Stanley reiterates Apple as overweight Morgan Stanley named the tech giant as its top pick in a downturn. Cowen reiterates Amazon as outperform Cowen said shares remain attractive heading into earnings later this month. Morgan Stanley resumes Prologis as overweight Morgan Stanley resumed coverage of the supply chain logistics company and named it a top pick. Morgan Stanley upgrades Clorox to equal weight from underweight Morgan Stanley said in its upgrade of Clorox that it sees some earnings upside ahead of the company's earnings later this quarter. Oppenheimer reiterates Chipotle as outperform Oppenheimer says Chipotle is a "rarity" as the firm sees earnings upside among a deteriorating macro.
Club trades for the week Monday Bought 20 shares of Constellation Brands (STZ); Trust owns 390 shares of STZ. On Wednesday, the September producer price index was reported to have risen 0.4% monthly, double the expectation. On Thursday, the September consumer price index was also reported to have increased 0.4% monthly, above the expectation for a 0.3% increase. Excluding automobile sales, sales were up 0.1% slightly ahead of the expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Counterintuitive: Raymond James says buy homebuilder Lennar (LEN), raises price target to $90 per share from $75, despite surging mortgage rates. Morgan Stanley slashes price target on FedEx (FDX) in half to $125 per share. Citi put Dow stock McDonald's (MCD) on a "negative catalyst watch" and lowers price target to $246 per share from $275. Deutsche Bank raises PepsiCo (PEP) price target to $181 per from $179; keeps hold rating ahead of third-quarter results next month. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Misiunea de Observare Promo-LEX a făcut public cel de al cincilea raport de monitorizare a alegerilor parlamentare anticipate din 11 iulie 2021. Activitatea Comisiei Electorale Centrale (CEC) din această perioadă a fost una intensă, fiind adoptate 77 de hotărâri privind organizarea și desfășurarea scrutinului parlamentar. 4390 din 20 octombrie 2020 adoptată pentru alegerile Prezidențiale a avut un caracter disuasiv și a contribuit la diminuarea numărului de incidente de transportare organizată a alegătorilor. Cu referință la activitatea observatorilor, Promo-LEX a atestat că, aceștia nu au avut acces deplin la listele electorale. Totodată, Promo-LEX a estimat pentru toate cele șase săptămâni de campanie electorală, cheltuieli neraportate de cel puțin 10 859 900 de lei.
Persons: ., Renato Usatîi, Fiodor Ghelici, Valeriu Munteanu, Igor Dodon, Dorin Chirtoacă, Victoria Grosu, Andrei Năstase, Iurie, Vladimir Voronin, Gheorghe, Cristian Rizea Organizations: CEC, Coaliției Civice, Alegeri, Prezidențiale, SV, PDM, PRM, Agenției, Agenției Statelor Unite, Fundației Soros Moldova Locations: Coaliției, CEC, Republicii Moldova, AUR, Victoria, Victoria Grosu Vremeș, PLD, Agenției Statelor, străinătate, Regatului Țărilor de Jos, Chișinău, Republica Moldova
Activitatea Comisiei Electorale Centrale (CEC) din această perioadă a fost una intensă, fiind adoptate 77 de hotărâri privind organizarea și desfășurarea scrutinului parlamentar. 4390 din 20 octombrie 2020 adoptată pentru alegerile Prezidențiale a avut un caracter disuasiv și a contribuit la diminuarea numărului de incidente de transportare organizată a alegătorilor. Cu referință la activitatea observatorilor, Promo-LEX a atestat că, aceștia nu au avut acces deplin la listele electorale. Totodată, Promo-LEX a estimat pentru toate cele șase săptămâni de campanie electorală, cheltuieli neraportate de cel puțin 10 859 900 de lei. Celelalte cazuri de discurs de ură au afectat membrii și susținătorii ai BECS, PLD, Președinta Republicii Moldova și alți politicieni.
Persons: ., Renato Usatîi, Fiodor Ghelici, Valeriu Munteanu, Igor Dodon, Dorin Chirtoacă, Victoria Grosu, Andrei Năstase, Iurie, Vladimir Voronin, Gheorghe, Cristian Rizea Organizations: CEC, Coaliției Civice, Alegeri, Prezidențiale, SV, PDM, PRM, Agenției, Agenției Statelor Unite, Fundației Soros Moldova Locations: Coaliției, CEC, Republicii Moldova, AUR, Victoria, Victoria Grosu Vremeș, PLD, Agenției Statelor, străinătate, Regatului Țărilor de Jos, Chișinău, Republica Moldova
Misiunea de Observare Promo-LEX a făcut public cel de al cincilea raport de monitorizare a alegerilor parlamentare anticipate din 11 iulie 2021. Cu referință la activitatea observatorilor, Promo-LEX a atestat că, aceștia nu au avut acces deplin la listele electorale. Cele mai populare activități rămân a fi distribuirea materialelor electorale (52 %) și întâlnirile electorale (30 %). Totodată, Promo-LEX a estimat pentru toate cele șase săptămâni de campanie electorală, cheltuieli neraportate de cel puțin 10 859 900 de lei. Celelalte cazuri de discurs de ură au afectat membrii și susținătorii ai BECS, PLD, Președinta Republicii Moldova și alți politicieni.
Persons: ., Renato Usatîi, Fiodor Ghelici, Valeriu Munteanu, Igor Dodon, Dorin Chirtoacă, Victoria Grosu, Andrei Năstase, Iurie, Vladimir Voronin, Gheorghe, Cristian Rizea Organizations: CEC, PDM, PRM, Agenției, Agenției Statelor Unite, Fundației Soros Moldova Locations: Republicii Moldova, AUR, Victoria, Victoria Grosu Vremeș, PLD, Agenției Statelor, străinătate, Regatului Țărilor de Jos, Chișinău, Republica Moldova
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