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United Airlines – The stock soared 11% after the airline posted an earnings and revenue beat for the third quarter and guided for a strong fourth quarter. In addition, United said it is starting a $1.5 billion share buyback, its first since before the Covid pandemic. The firm posted earnings of $1.88 per share, higher than the $1.58 expected by a LSEG analyst poll. J.B Hunt Transport Services – Shares added 3.4% after the company posted a top and bottom line beat. J.B. Hunt posted $1.49 earnings per share on $3.07 billion of revenue in the third quarter.
Persons: United, Morgan Stanley, Novocure, J.B, Hunt, LSEG, Aspen Aerogels, FactSet, Prologis, Hamid Moghadam, , Alex Harring, Hakyung Kim, Samantha Subin, Pia Singh, Michelle Fox Organizations: Food and Drug Administration, United Airlines, Revenue, Cisco Systems, Citi, Food, ASML, J.B Hunt, Aspen, of Energy, U.S . Bancorp, General Motors, Lithium Americas Corp Locations: Dutch, U.S
Prologis CEO Hamid Moghadam goes one-on-one with Jim Cramer
  + stars: | 2024-03-18 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Prologis CEO Hamid Moghadam goes one-on-one with Jim CramerPrologis Co-Founder, Chairman and CEO Hamid Moghadam joins 'Mad Money' host Jim Cramer to talk the state of REIT's, the real estate market, AI implementation and more.
Persons: Hamid Moghadam, Jim Cramer Prologis, Jim Cramer Locations: REIT's
He will fill the newly created role of global head of data centers at the firm. Prologis's push exemplifies the growing interest among investors in data center deals, including players who have not traditionally been involved in the highly specialized industry. Warehouses have squat footprints similar to data centers and are often located in industrial areas that have proximity to the heavy electrical lines and equipment necessary to deliver voluminous power that data centers require. Warehouse growth slows as data centers accelerateDemand for data centers has steadily grown over the past decade, driven by the widespread use of cloud computing and storage across corporate America. Blackstone, for instance, has said it plans to develop as much as $50 billion of data centers in the coming years.
Persons: Chris Curtis, Curtis, Michael Hochanadel, Hochanadel, Harrison, They're, Joseph Ghazal, Ghazal, Hamid Moghadam, JLL, Morgan Stanley, Blackstone, Vince Tibone, Tibone, Prologis's, Ron Kamdem, Moghadam, Carl Beardsley, Beardsley, Chris Crosby, Prince William County, Prologis Organizations: Business, Harrison, Green, Amazon, Google, Microsoft, Brookfield, Blackstone, Compass Locations: San Francisco, Dallas, America, Brookfield, Canadian, Prince William, Virginia
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrologis CEO: The industrial real estate market is in a 'very healthy situation'Hamid Moghadam, Prologis co-founder and CEO, joins 'Closing Bell Overtime' to talk quarterly earnings, what's ahead for the year, occupancy demand and more.
Persons: Hamid Moghadam, Prologis
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur business has been on 'steroids' for the last 2-3 years, says Prologis CEO Hamid MoghadamHamid Moghadam, Prologis CEO, joins 'Closing Bell Overtime' to talk the company's second quarter earnings, the rental market and more.
Persons: Hamid Moghadam Hamid Moghadam
Prologis CEO Hamid Moghadam on the state of industrial REITs
  + stars: | 2023-06-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrologis CEO Hamid Moghadam on the state of industrial REITsPrologis CEO Hamid Moghadam joins 'Power Lunch' to discuss the state of industrial REITs and the company outlook.
Persons: Hamid Moghadam
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.
Construction of new warehouses is slowing as developers grapple with rising interest rates and declining leasing activity, potentially prolonging an ongoing shortfall in logistics space. Developers began building about 137 million square feet of new warehouse space, the lowest amount of new space to start construction in a quarter since the beginning of the Covid-19 pandemic. The company is planning development starts for the year to range between $2.5 billion and $3 billion, down from $4.7 billion in construction starts last year. Even with construction starts slowing, the pipeline of industrial projects being built remained elevated at 682.6 million square feet as of the fourth quarter, according to Cushman & Wakefield. Developers completed 143.6 million square feet of new space to finish the year, the company said, down from the record-high 148.2 million square feet delivered in the third quarter.
Prologis, the largest holder of US industrial real estate, beat Q4 expectations last week. As the rest of the real estate market faces layoffs, warehouses are bucking the trend. Prologis CEO Hamid Moghadam said warehouse demand will stay high as other markets crumble. In past recessions, there was plenty of empty warehouse space from the start, causing low prices to get lower. Warehouse space thus becomes an investment in future success.
Warehouse supply remains tight compared with demand, but Prologis will make decisions on new sites on a “deal by deal” basis, he added. Prologis trimmed its plans for new development starts for this year to a range of $4.2 billion to $4.6 billion, from a projected range of $4.2 billion to $5 billion the prior quarter. Companies signed new leases for about 920 million square feet of warehouse space in 2021 compared with 619 million square feet in 2019, according to Cushman & Wakefield. Mr. Moghadam said Amazon hasn’t pulled out of any of its Prologis buildings or projects and the e-commerce company is taking on new space. He said e-commerce companies overall have been leasing new space to compete with Amazon’s sprawling network.
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