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☆ Hurricane Beryl: Houston area residents frustrated as they enter 6th day without power and air conditioning in punishing heat
▼ + stars: | 2024-07-13 | by ( Dalia Faheid | Taylor Galgano | ) edition.cnn.com time to read: +11 min

We should not have had nine fire stations without power,” Patrick said. Combined with power outages, alarmingly dangerous consequences have ensued. CenterPoint foreign assistance crews work to restore power lines on Thursday in Houston, Texas. Danielle Villasana/Getty ImagesFrustration mounts with Houston utility providerThe crisis comes more than three years after massive power outages hit the state. Greg Abbott has requested an investigation into CenterPoint Energy and other electric companies in the wake of the outages, Patrick said in a news conference Thursday.

Persons: Hurricane Beryl, Energy –, Jordyn Rush, “ It’s, ” Rush, “ I’m, Gov, Dan Patrick, ”, ” Patrick, Beryl, KP George, Dawn O’Connell, Nim Kidd, Patrick, Kidd, Rush, it’s, Hurricane, Brian Maxwell, Danielle Villasana, Greg Abbott, CenterPoint, Jason Wells, “, ” Wells, Larry, Brandon Bell, Destinee Rideaux, she’s, she’s “, “, Rideaux, Laura, she’ll Organizations: CNN, Energy, Houston, Jordyn, CenterPoint Energy, Sunday, “, US Department of Health, Human Services, Preparedness, Texas Emergency Management, Gov, Federal Emergency Management Agency, Texas Gov, CenterPoint, Houston Chronicle, Ward Locations: Texas, Vermont, Louisiana, Houston, Fort Bend County, Harris County, Crystal Beach, City, Galveston, Houston , Texas, Iowa , Louisiana, Hurricane

☆ Texas needs money to keep the lights on during extreme weather. It’s funding more fossil fuel instead
▼ + stars: | 2024-07-12 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

But rather than shuttling money into strengthening its grid to make sure the lights and A/C stay on during increasingly extreme weather, Texas is pouring billions of taxpayer dollars into new natural gas-fired power plants. Adding more electricity to the grid isn’t necessarily a bad thing because the state is facing higher demand, said Texas energy expert Doug Lewin, founder of consulting firm Stoic Energy. The state prioritizes natural gas power plants or backup natural gas generator systems. Centerpoint and other Texas utilities are no stranger to extreme weather. “In addition to extreme weather, the company’s service area also experiences heavy precipitation and extreme temperatures,” the company wrote in the report.

Persons: Beryl, Doug Lewin, ” Lewin, it’s, Texas Republicans ’, ” Michael Webber, Centerpoint, Joshua Rhodes, ” Rhodes, Rhodes, It’s, haven’t, doesn’t, ”, Alison Silverstein, Microgrids, Lewin, “ We’ve, “ That’s Organizations: CNN, Houston, Energy, Texas Republicans, University of Texas, Centerpoint Energy, UT Austin, Texas Public Service Commission Locations: Houston, Texas, Austin, “

☆ Texans used cult fast food chain Whataburger's app to track power outages during Hurricane Beryl
▼ + stars: | 2024-07-10 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Some Texas residents used Whataburger's app to track power outages in the wake of Hurricane Beryl. They used its restaurant map to see which areas appeared to have regained power. 2.26 million customers lost access to power, said CenterPoint Energy, Houston's main energy provider. AdvertisementPeople in Texas have been using Whataburger's app to follow power outages in the wake of Hurricane Beryl because of a lack of information from Houston's main energy provider. CenterPoint Energy said that 2.26 million customers had lost their power access during the storm.

Persons: Hurricane Beryl, —, Beryl Organizations: Energy, Service, CenterPoint Energy, The New York Times, Business Locations: Texas, Hurricane

☆ Rising Frustration in Houston After Millions Lost Power in Storm
▼ + stars: | 2024-07-10 | by ( J. David Goodman | Ivan Penn | ) www.nytimes.com time to read: +1 min

The sun felt hotter than usual in Houston this week, as millions of sweltering residents emerged from the rapid thrashing of Hurricane Beryl to face a prolonged power outage — the largest ever seen by the city’s utility, according to the state’s lieutenant governor. The outages from the storm affected as many as 2.7 million customers across the state, mostly in and around Houston. Despite a promise by the utility, CenterPoint Energy, to restore power to one million customers by the end of the day on Wednesday, large swaths of the nation’s fourth-biggest city remained without power. The scale of the outages raised questions about whether enough had been done to prepare the city, just 50 miles from the Gulf Coast, for the kinds of storms that climate scientists predict will arrive with greater frequency. “For a Category 1 hurricane to result in over a million customer outages in its immediate aftermath demonstrates that there is plenty of need for the resiliency hardening investments,” said Wei Due, an energy expert with PA Consulting and a former senior analyst and engineer for Con Edison.

Persons: Beryl, ”, Wei, Con Edison Organizations: CenterPoint Energy, PA Consulting Locations: Houston, Gulf

☆ In Search of Power, Texans Ask: Are the Lights on at Whataburger?
▼ + stars: | 2024-07-09 | by ( Isabelle Taft | ) www.nytimes.com time to read: +1 min

Want to find a working gas station, an open restaurant or someplace with air-conditioning in East Texas after Hurricane Beryl knocked out power to millions on Monday? Users on Houston-area Facebook pages and group chats have suggested checking Whataburger’s online map to see which locations of the homegrown fast-food chain are operating. She looked at the map and headed where “there was a pretty decent concentration of Whataburgers” open. Craig Fugate, a head of the Federal Emergency Management Agency under President Barack Obama, once said: “If you get there and the Waffle House is closed? That’s where you go to work.” The concept is known as the “Waffle House index,” and has even been studied by academics — really.

Persons: Hurricane Beryl, Jais Curry, Craig Fugate, Barack Obama, — Organizations: Federal Emergency Management Agency, Waffle, CenterPoint Energy Locations: East Texas, Hurricane, Houston

☆ Beryl leaves millions of Texans without power as dangerous heat descends on the region
▼ + stars: | 2024-07-08 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +4 min

CNN —Restoring power to millions of Texans slammed by the deadly and destructive storm Beryl could take days or even weeks, posing a dangerous scenario for residents who will not have air conditioning as sweltering heat settles over the state. Beryl slammed into southern Texas as a Category 1 hurricane Monday, knocking out power to more than 2.5 million homes and leaving at least 8 people dead in Texas and Louisiana. As it hurtles northeastward, it is bringing flooding and the threat of tornadoes across eastern Texas, western Louisiana and Arkansas. “The lack of proper cooling combined with many people outdoors cleaning up after Beryl could produce dangerous heat conditions,” the National Weather Service in Houston said. Despite weakening, Beryl will still produce flooding and tornadoes in the US as it moves inland through mid-week.

Persons: Beryl, Thomas Gleeson, Houston Mayor John Whitmire, CenterPoint, “ We’re, We’ll, ”, Flood Organizations: CNN, Texans, National Weather Service, Public, Commission, Texas, CenterPoint, Houston Mayor, US, Atlantic Locations: Texas, Louisiana, Arkansas, Houston, Galveston, Caribbean, Missouri, Illinois, Indiana, Ohio, Michigan, Canada

☆ Texas Utility Considers Mobile Generators as Beryl Leaves Millions Without Power
▼ + stars: | 2024-07-07 | by ( Ivan Penn | More About Ivan Penn | ) www.nytimes.com time to read: +1 min

With millions of utility customers in East Texas cut off from electricity by the storm, the utility serving the overwhelming majority of those customers said it was working to set up mobile power sources for critical facilities. The utility, CenterPoint Energy, which supplies power in and around Houston, said that some 2.26 million customers had lost their electric service at the peak on Monday, and that the figure had since fallen only slightly. The company said it was looking into using mobile generation units to provide temporary power to places like cooling centers, health care facilities, police and fire stations, senior centers and educational centers. “We are mobilizing all of our available resources, as well as mutual assistance resources from other utility companies, to begin the process of quickly and safely restoring power to our customers,” Lynnae Wilson, senior vice president for electric business at CenterPoint, said in a statement. “We understand how difficult it is to be without power for any amount of time, especially in the heat.”

Persons: ” Lynnae Wilson Organizations: CenterPoint Energy Locations: East Texas, Houston, CenterPoint

☆ Live Updates: Beryl Expected to Hit Texas as a Hurricane
▼ + stars: | 2024-07-07 | by ( Isabelle Taft | ) www.nytimes.com time to read: +4 min

Beryl was forecast to bring winds of up to 110 miles per hour to parts of southeast Texas by early Monday. Texans are unusually familiar with power outages: The state had more weather-related power outages from 2000 to 2021 than any other, according to the advocacy organization Climate Central. In 2008, Hurricane Ike left two million customers across eastern Texas without power for three days after the storm. Hurricane Rita, in 2005, also caused widespread power outages lasting as long as seven days in some Texas counties. Texas officials, electricity companies and individuals were all thinking about the grid as Beryl churned through the Gulf of Mexico.

Persons: Nim Kidd, Beryl, Hurricane Ike, Hurricane Harvey, Ike, Harvey, Hurricane Rita, Gov, Dan Patrick, Thomas Muñoz, Muñoz, Robert DeShazo, “, ” Organizations: Texans, Texas Division, Emergency Management, Monday, Climate Central, Public, Commission, Energy, AEP Texas, Facebook, Corpus Christi Locations: Austin, Texas, Louisiana, Houston, U.S, Hurricane, Gulf of Mexico, South, West Texas, Ohio, Victoria, Rio Grande Valley

My condolences go out to the families that lost a loved one during yesterday’s severe weather event,” Gonzalez said. Over 531,000 customers in Harris County remain without power early Saturday following the line of storms, according to PowerOutage.us. “Isolated to scattered severe thunderstorms appear possible across portions of the Southeast and Carolinas on Saturday, and parts of the Upper Midwest,” the center said. The greatest chances for severe weather are across parts of Nebraska and Kansas, with a slight level 2 of 5 risk of severe thunderstorms issued by the Storm Prediction Center. By the end of the weekend, thunderstorm chances will diminish for most of the Southeast and Mid-Atlantic, the weather service said.

Persons: Samuel Peña, Harris County Sheriff Ed Gonzalez, Gonzalez, ” Gonzalez, David J, Phillip, –, Houston Mayor John Whitmire, ” Whitmire, Logan Riely Organizations: CNN, Houston Fire, Harris County Sheriff, Authorities, CenterPoint Energy, National Weather Service, Houston Mayor, Carolinas, Storm Prediction Locations: Houston, Southeast, Gulf, Harris County, Cypress , Texas, City, Texas, Louisiana, Houston , Texas, Mexico, Carolinas, Midwest, Plains, Nebraska, Kansas

Soaking storms will shift east on Friday and target more of the Gulf Coast after rumbling to life Thursday afternoon in parts of Texas. Floods deluge roads: Several roads closing in northern and eastern Bosque County, Texas due to water over crossings or bridges. More than a dozen school districts closed: The Houston Independent School District has announced campuses will be closed on Friday and will reopen next week. Schools will reopen on Monday, May 20,” the school district said in a message on Facebook. A handful of Houston-area school districts announced they would close Friday as well, including Aldine Independent School District, Channelview Independent School District and Cypress-Fairbanks Independent School District.

Persons: Mary Benton, Samuel Peña, Houston Mayor John Whitmire, Houstonians, Seth Waller, Bell County . Organizations: CNN, Houston Fire Department, Texas -, Florida Panhandle, National Weather Service, Hyatt, CenterPoint Energy, Houston Mayor, Houston, College Station, Houston Independent School, HISD, City of, Facebook, Aldine Independent School District, Channelview Independent School District, Fairbanks Independent School District Locations: Texas, Louisiana, Houston, Gulf, Mississippi, Alabama, Texas - Louisiana, Georgia, Florida, New Orleans, Baton Rouge and New Orleans, Hyatt Regency, Bryan, College, Bosque County , Texas, Bell County, Bell County . McLennan, Falls, City of Houston, Cypress

☆ 4 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-02-17 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale

☆ These losing stocks could surge as the year winds down, Bank of America says
▼ + stars: | 2023-11-10 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

One investor's portfolio loser could be another's winning stock as 2023 draws to a close, according to Bank of America. Buy rated and cheap Bank of America screened for buy-rated stocks that fell at least 10% in 2023 through the end of October that were also overweight by long-only funds as of September. However, Bank of America still rates both names as buys – and others on Wall Street spot potential. Retailer Target is another name that made the cut, garnering a buy rating from Bank of America. Other stocks in Bank of America's list include agriculture play Mosaic , life insurer MetLife , defense giant Northrop Grumman , as well as gas and electric utility CenterPoint Energy .

Persons: Savita Subramanian, Dexcom, Insulet, –, Piper Sandler's Matt O'Brien, — CNBC's Michael Bloom Organizations: Bank of America, Internal Revenue, Bank of, Target, MetLife, Northrop, CenterPoint Energy Locations: Bank of America, Bank

☆ Morgan Stanley's stock playbook for this slowing, 'late-cycle' economy
▼ + stars: | 2023-10-25 | by ( Pia Singh | ) www.cnbc.com time to read: +6 min

To play this market, the firm recommended a "barbell" of traditional defensive stocks, some select growth opportunities and late-cycle cyclical names. Take a look below for some of Morgan Stanley's favorite stocks in this slow-growth environment. 1) Traditional Defensives Despite its year-to-date underperformance against the broader market, health care remains Morgan Stanley's preferred defensive sector. Still, popular consumer food companies Yum Brands and McDonald's are considered growth stocks based on their market cap and volatility. 3) Late-Cycle Cyclicals Several energy companies — including Marathon Oil , Valero Energy and ConocoPhillips — can shine in a late-cycle market environment, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Pauker, Pauker, Morgan Stanley's, Fisher, Dr Pepper, Eli Lilly, Devin McDermott, Ravi Shanker Organizations: Walmart, Fisher, " Beverage, CenterPoint Energy, Costco, Colgate, Palmolive, Yum Brands, UnitedHealth, Marathon Oil, Valero Energy, ConocoPhillips, Swift Transportation, Defense, Northrop Grumman, Howmet Aerospace, Delta Airlines

☆ Buy these dividend-paying stocks as worries of a slowing economy linger, Wolfe says
▼ + stars: | 2023-08-29 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Wall Street anticipates upside of 16%, based on the average price target. Skyworks Solutions , which pays a dividend yield of about 2.5%, is on Wolfe's list. About 44% of the analysts covering the stock rate it a buy or a strong buy, according to Refinitiv. About 74% of the analysts covering the stock rate it a buy or a strong buy, per Refinitiv. The average analyst price target calls for upside of 16%.

Persons: Wolfe, Jerome Powell, CenterPoint, Harsh Kumar, Piper Sandler, Skyworks, McDonald's, Chris O'Cull, — CNBC's Michael Bloom Organizations: Wolfe Research, Federal, Kansas City, Skyworks Locations: Jackson Hole , Wyoming, Refinitiv

☆ Third quarter is a key time for extreme weather events. Here's what to expect for exposed stocks
▼ + stars: | 2023-07-04 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

The third quarter is a key time for extreme weather events. An El Niño weather pattern is widely expected for 2023. "Following three years of La Niña, climate scientists expect 2023 to have El Niño conditions with near-100% certainty given current signals," Karp said in a note to clients last month. Insurers are also among the stocks to typically move in relation to extreme weather events. This year should be a fairly typical one for hurricanes, as El Niño is typically linked to a less severe season.

Persons: Nature, —, Sophie Karp, La, Karp, El, bode, Morgan Stanley, Andrei Stadnik, Stadnik, Matthew Carletti doesn't, hasn't, Jefferies, Yaron Kinar, Brown, Arthur J, Gallagher, Aon, Niño, Generac, Aaron Jagdfeld, Bob Huang, bullish, — CNBC's Michael Bloom Organizations: National Oceanic, Atmospheric Administration, Energy, DTE Energy, WEC Energy, CNBC Pro's, WEC, Xcel Energy, Portland General Electric, Edison International, CenterPoint, Southern Company, Duke Energy, Nextera Energy, El, Insurance Australia Group, Suncorp, Arch Capital, Everest Re, Bloomberg, Arch Locations: El, Canada, U.S, Gulf, Pacific Northwest, California, Michigan, Avista, Portland, American, Mexico, CenterPoint Energy, Bermuda, Texas

Investors may want to look somewhere other than tech for safety, according to Morgan Stanley's Mike Wilson. Tech is the best-performing sector this year, up more than 20% and outpacing the S & P 500 's 7% advance. Recently, tech stocks got a boost after bond yields fell amidst volatility in the banking sector. Morgan Stanley looked for defensive stocks to own in a bear market. His 2023 S & P 500 target of 3,900 is also the third-lowest in CNBC Pro's Market Strategist Survey.

☆ Why it's so hard to build new electrical transmission lines in the U.S.
▼ + stars: | 2023-02-21 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +14 min

Building new transmission lines in the U.S. takes so long — if they are built at all — that electrical transmission has become a roadblock for deploying clean energy. Energy companies that build new transmission lines need to get a return on their investment, explains James McCalley, an electrical engineering professor at Iowa State University. "Someone that benefits more frequent transmission line will pay more than someone who benefits less from a transmission line." transmission lines, energy grid, clean energyGreat River Energy and Minnesota Power are in the early stages of building a 150-mile, 345 kilovolt transmission line from northern to central Minnesota. Engaging with all members of the respective community is a necessary part of any successful transmission line build out, Patel and Johnson both say.

☆ Key inflation data in the week ahead will offer clues to future Fed rate moves and the market's path
▼ + stars: | 2023-02-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

With a majority of S & P 500 companies having posted their quarterly results, investors' focus will turn toward inflation and the consumer price index reading in the upcoming week. The three major indexes are on pace to end the week down, with the S & P 500 poised to post its worst performance since December. Sharp declines for Alphabet , which is off by more than 9% this week, dragged the tech-heavy index. January's consumer price index With the latest Powell speech in the books, investors are now looking ahead to the consumer price index for insight into the pace of inflation. "Retail sales and CPI is really driven by the consumer, and a lot of eyes are on how the consumer doing," Bruno said.

Residents of the country's fourth-largest city were told to boil water Sunday after pump-driven water system pressure dropped because of an electrical outage, triggering concerns of possible contamination. "We believe the water is safe but based on regulatory requirements when pressure drops below 20 psi we are obligated to issue a boil water notice," Turner said. A power outage Sunday at the East Water Purification Plant caused pressure to drop below 20 psi, or pounds per square inch, the state threshold that triggers boil water notices, Houston Public Works said. Water system pressure can use the weight of liquid to occupy cracks and crevices that might otherwise be exposed to outside incursions, such as urban runoff. "Houston’s water system is different than other systems in that we don’t use water towers to provide pressure to the system," it tweeted.

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