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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC: The defense sector is in the early stages of what will be a significant restocking eraKen Herbert, aerospace & defense analyst at RBC Capital Markets, discusses the run-up in defense stocks over the past week, whether the dysfunction in Congress will impact the military budget, and which names are head & shoulders above the rest in the sector.
Persons: Ken Herbert Organizations: RBC, RBC Capital Markets
[1/3] South Korea's K-2 tank is displayed at the 2023 Seoul International Aerospace and Defense Exhibition (ADEX) in Seongnam, South Korea, October 16, 2023. REUTERS/Josh Smith Acquire Licensing RightsSEONGNAM, South Korea, Oct 16 (Reuters) - South Korea will kick off its largest-ever defence exhibition this week, as the country seeks to turbocharge its arms sales and showcase a rare appearance by a U.S. nuclear-capable bomber. "This is an opportunity for Korea's defence industry to draw international attention and take a giant leap forward," Lee said. At a South Korean military airbase south of Seoul on Monday, exhibitors made final preparations as participants in early events wandered among South Korean and U.S. military vehicles and warplanes on the tarmac, including advanced American stealth F-22 and F-35 aircraft. Under Yoon, South Korea and the United States have stepped up displays of strength, particularly U.S. nuclear-capable assets, in an effort to deter North Korea.
Persons: Josh Smith, Lee Jong, Lee, Yoon Suk Yeol, Charles Cameron, Yoon Organizations: Aerospace, Defense, REUTERS, Rights, U.S, Seoul International Aerospace, South, South Korean, U.S . Air Force, Thomson Locations: Seongnam, South Korea, Rights SEONGNAM, Seoul, U.S, Poland, South Korean, American, United States, North Korea, South, Korean, Ukraine
North Korean leader Kim Jong Un visited Russia in September on his first overseas trip since 2019. The visit was seen as Russia's attempt to secure North Korean support for Moscow's war in Ukraine. For North Korea, Russia's desperation may be a chance to get help upgrading its aging air force. Korean People's Army Air and Anti-Air ForceSouth Korean troops guard a MiG-19 that a North Korean pilot used to defect in May 1996. KCNA via REUTERSGiven the North Korean air force's needs, it's easy to see Kim's visit as something of a prospective shopping trip.
Persons: Kim Jong Un, , Vladimir Putin, Sergei Shoigu, Kim, Putin, CHOO YOUN, Antonov, Mikhail Japaridze, Kim's, Kim strode, Shoigu, Sergey Kobylash, Denis Manturov, Kim Jong Organizations: North, Service, Russian Defense, Vostochny, Amur Aircraft, Knevichi, Korean People's Army Air, Air Force South, MiG, Getty, Air Force, North Korean, Defense Intelligence Agency, DIA, KCNA, REUTERS, Kremlin Locations: Russia, Ukraine, North Korea, Korean, Russian, Moscow, Pyongyang, KONG, AFP, Soviet Union, China, Komsomolsk, Vladivostok, Japan, Korea
In this article COSTMUINTCMETAAMZN Follow your favorite stocks CREATE FREE ACCOUNTAn Amazon delivery truck at the Amazon facility in Poway, California, Nov. 16, 2022. Investors seeking a sense of direction can turn to analysts who identify companies that have lucrative long-term prospects and the ability to navigate near-term pressures. To that end, here are five stocks favored by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. JPMorgan analyst Doug Anmuth noted the recent sell-off in AMZN stock and highlighted certain investor concerns. Also on investors' mind is Amazon Web Services' growth, with multiple third-party data sources indicating a slowdown in September.
Persons: Sandy Huffaker, Wall, Doug Anmuth, Anmuth, TipRanks, Needham, Quinn Bolton, Bolton, Sidney Ho, Ho Organizations: MU, Reuters Investors, Investors, JPMorgan, Federal Trade, Meta, Meta Connect, Intel, Systems Business, PSG, Bolton, TipRanks, Micron Technology, Deutsche Bank, Micron, Costco Locations: Poway , California
By Josh SmithSEONGNAM, South Korea (Reuters) - South Korea will kick off its largest-ever defence exhibition this week, as the country seeks to turbocharge its arms sales and showcase a rare appearance by a U.S. nuclear-capable bomber. "This is an opportunity for Korea's defence industry to draw international attention and take a giant leap forward," Lee said. South Korea has been roughly ninth in the world for defence exports in recent years, but President Yoon Suk Yeol has called for it to improve. At a South Korean military airbase south of Seoul on Monday, exhibitors made final preparations as participants in early events wandered among South Korean and U.S. military vehicles and warplanes on the tarmac, including advanced American stealth F-22 and F-35 aircraft. Under Yoon, South Korea and the United States have stepped up displays of strength, particularly U.S. nuclear-capable assets, in an effort to deter North Korea.
Persons: Josh Smith, Lee Jong, Lee, Yoon Suk Yeol, Charles Cameron, Yoon Organizations: Reuters, U.S, Seoul International Aerospace, Defense, South, South Korean, U.S . Air Force Locations: Josh Smith SEONGNAM, South Korea, Seoul, U.S, Poland, South Korean, American, United States, North Korea, South, Korean, Ukraine
On Friday, Gordon Haskett upgraded the stock to buy , saying Dollar General's latest leadership change could help stabilize the company. Wells Fargo — The bank stock gained close to 3% after Wells Fargo posted third-quarter results that beat expectations. Citigroup — Shares of the New York-based bank rose 1.4% after posting its third-quarter results . Citigroup reported $1.63 in earnings per share, or $1.52 per share, excluding the effect of divestitures. Post Holdings — Shares of the packaged food company gained 2% after JPMorgan initiated coverage with an overweight rating on shares.
Persons: Todd Vasos, Gordon Haskett, JPMorgan Chase, Wells Fargo, LSEG, JD.com, Morgan Stanley, UnitedHealth, CNBC's Hakyung Kim, Samantha Subin, Pia Singh, Tanaya Macheel, Jesse Pound Organizations: Boeing —, Boeing, JPMorgan, Revenue, LSEG, Citigroup —, Citigroup, PNC Financial, PNC, Oil, EOG, ConocoPhillips, Exxon Mobil, Progressive, Post Holdings, Netflix, Wolfe Research, Dow, United Food, Commercial Workers International Union, Hormel Locations: York, China
Cloudline: The blimp is back – and this time it’s tiny
  + stars: | 2023-10-13 | by ( Tom Page | ) edition.cnn.com   time to read: +7 min
CNN —You’d be forgiven for thinking the resurgence of airships and blimps was a load of hot air. South African startup Cloudline has received millions of dollars in investment for its mini blimps. Cloudline first received venture capital backing in 2019, and after years of research and development and prototyping, the company is preparing to launch commercial operations. “The ability of companies like Cloudline to expand is highly subject to the complexity of regulations experienced across the continent,” Chokossa adds. However it looks to fill its airships, Cloudline is hoping it can break through in this revived transport sector.
Persons: CNN — You’d, Cloudline, Spencer Horne, , Horne, Christele Chokossa, , Chokossa, ” Horne Organizations: CNN, Helicopters, Harvard University, Gross, Euromonitor International, Cote d’Ivoire, Democratic, UNICEF Locations: firma, South Africa, Namibia, Mozambique, Kenya, East Africa, Africa, Cameroon, Cote, Democratic Republic of Congo
The proposed tax credit, 45V, is meant to turbocharge the production of low-emissions hydrogen. "The IRA's section 45V production tax credit is the most generous clean hydrogen subsidy in the world," Jesse Jenkins, professor of macro-scale energy systems at Princeton University, told CNBC. John Macdougall | Afp | Getty ImagesThe adjudication of the hydrogen tax credit has become about more than just the hydrogen tax credit, too. The amount of the hydrogen tax credit, which is available for 10 years, depends on the emissions generated in making hydrogen. If hydrogen is produced without releasing any carbon emissions, the tax credit is maxed out at $3 per kilogram of hydrogen.
Persons: that's, It's, Jesse Jenkins, John Macdougall, Wilson Ricks, Jenkins, Ricks, Rachel Fakhry, electrolyzers, Andriy Onufriyenko, Eric Guter, Josef Kallo, H2FLY, Guter, Phil Musser, Shannon Angielski, Angielski, Shi, Fakhry Organizations: Istock, Treasury, Princeton University, CNBC, Daimler Truck Holding, Afp, Getty, Energy, Research, Princeton, Natural Resources Defense Council, Power, Singularity, Air Products, Bloomberg, Air, Products, Hydrogen Company, European, EU, NextEra Energy, Hydrogen Future Coalition, BP, Duke Energy, Exxon Mobile, General Electric, Siemens Energy, American, Shell, Hydrogen, Coalition Locations: Biden's, United States, U.S, Berlin, additionality, Maribor, Slovenia, Oxagon, Saudi Arabia, Wilbarger County , Texas
STOCKHOLM/AMSTERDAM, Oct 12 (Reuters) - Airlines wrestled with the safety risk of evacuation operations in Israel on Thursday, with carriers including Dutch KLM cancelling flights while sister airline Air France mounted a special relief flight chartered by the French foreign ministry. Israel's parliamentary finance committee meanwhile approved a plan to provide a state guarantee of $6 billion to cover insurance against war risks to Israeli airlines. The framework will grant Israeli airlines cover against war risks, thereby ensuring the continuity of air operations. Foreign airlines have struggled to find a common approach and the head of European budget giant Ryanair (RYA.I) said it was up to governments to plot the way forward. PATCHY RESPONSEGermany's Lufthansa (LHAG.DE) said it was sticking to its plans for evacuation flights on Thursday and Friday, while continuing to ground commercial flights to Israel.
Persons: Ben Gurion, Ben Smith, Ed Bastian, Sasha Gainullin, Rafael Schvartzman, Obama, Anna Ringstrom, Bart H, Meijer, Tim Hepher, Joanna Plucinska, Julia Payne, Carolyn Cohn, Steven Scheer, Rajesh Kumar Singh, Doyinsola, Terje Solsvik, Deborah Kyvrikosaios, Diane Craft Organizations: Airlines, Dutch KLM, Air France, Palestinian, Israel's, Norwegian Air, Insurance, Reuters, Foreign, Ryanair, KLM, Boeing, Lufthansa, Dubai's Emirates, Delta Air Lines, International Air Transport Association, Regulators, U.S . Federal Aviation Administration, Thomson Locations: STOCKHOLM, AMSTERDAM, Israel, Palestinian, Tel Aviv's, Ben, Gaza, Tel Aviv, Eilat, Emirates, United States, Europe, U.S, Ben Gurion
The war provoked by Hamas' attack on Israel has shaken American politics — and put the primary race in her wheelhouse. Iran has long supported Hamas, though U.S. officials say there's no conclusive evidence yet that Iranian agents were involved in the most recent attack. Ron DeSantis proposed state-level sanctions against Iran for its ongoing support of Hamas. Since before the war, Haley has gone after her rivals on issues such as U.S. support for Ukraine against Russia's invasion and how Washington deals with China. And, in keeping with how he treats rivals, Trump has given Haley a nickname, “Birdbrain."
Persons: CLIVE, — Nikki Haley, peppering, , Haley, Donald Trump, , we’re, wouldn't, Israel, Kevin McCarthy, Joe Biden, South Carolina Sen, Tim Scott, Ron DeSantis, Trump, Vivek Ramaswamy’s, , ” Ramaswamy, ” Haley, DeSantis, ” DeSantis, Bill Strong, ” Strong, Nikki, doesn’t, Bruce Rauner, Rauner, She’s, Linda Marks, ” Marks, Thomas Beaumont, Elliot Spagat, ___ Meg Kinnard Organizations: Republican, United Nations, Department of Homeland Security, Israel, Saturday, Banking, Gov, Ukraine, Washington, GOP, Lockheed, Raytheon, Boeing, Trump, Disney, ” Former Illinois Gov, doer, Palestinian, Security, The Associated Press, NORC, for Public Affairs Research, Associated Press Locations: Iowa, China, Russia, Israel, U.S, America, Mexico, Iran, Tehran, South Carolina, Florida, Ukraine, Taiwan, , Texas, United States, Gaza, Des Moines, Windsor Heights , Iowa, Boone , Iowa, San Diego
Here are Wednesday's biggest calls on Wall Street on Wednesday: Goldman Sachs upgrades Shoals to buy from neutral Goldman Sachs said the solar company is very attractive. Morgan Stanley upgrades Cava to overweight from neutral Morgan Stanley said it's gaining confidence in the restaurant chain. JPMorgan upgrades CSX to overweight from neutral JPMorgan said rail concerns have already played out. JPMorgan upgrades Iris Energy to overweight from neutral JPMorgan said the bitcoin mining company is "best-in-class." JPMorgan initiates CleanSpark as overweight JPMorgan said the bitcoin miner offers "relative value."
Persons: Goldman Sachs, Wells, Wells Fargo, TD Cowen, Cowen, Stephens, Raymond James, it's bullish, Morgan Stanley, Cava, it's, UBS downgrades Morgan Stanley, Oppenheimer, Needham, Robinhood, MAUs, Truist, Piper Sandler, JPMorgan, Mizuho, SoFi, SOFI, Leerink, Apple Organizations: Netflix, JPMorgan, CSX, Nvidia, Iris Energy, Energy, UBS, Boeing, Oppenheimer downgrades Texas, Texas, Qs, Logistics, Amazon, Arista Networks, Barclays, Ball Corporation, Apple, Walmart, Deutsche Bank, Cboe Locations: CAVA, OW, U.S, China, ANET, SoFi
Summary Putin to visit KyrgyzstanPutin also to attend CIS summitArmenian PM Pashinyan not to attend CIS summitMOSCOW, Oct 11 (Reuters) - Vladimir Putin will visit Kyrgyzstan on Thursday, the presidential office of the Central Asian country said, in what would be the Russian leader's first known trip abroad since the International Criminal Court issued a warrant for his arrest. Putin agreed in May during talks with Japarov to visit Kyrgyzstan, but there has been no official confirmation yet from the Kremlin that the Russian president will travel there on Thursday. The Russian leader is also due to travel to China next week for the third Belt and Road Forum in Beijing. Neither Kyrgyzstan nor China are members of the ICC, which was established to prosecute war crimes. Pashinyan said on Tuesday that plans were proceeding for a meeting with the Azeri president to discuss a durable peace accord.
Persons: Putin, Kyrgyzstan Putin, Vladimir Putin, Sadyr, Japarov, Armenia Nikol Pashinyan, Pashinyan, Ilham Aliyev, Lidia Kelly, Guy Faulconbridge Organizations: CIS, MOSCOW, Central, ICC, Kremlin, Russian Federation, Forum, Russian Aerospace Forces, 999th Air Base, Commonwealth, Independent States, Thomson Locations: Kyrgyzstan, Russian, Ukraine, Russia, Kyrgyz Republic, China, Beijing, Moscow, Kant, Armenia, Bishkek, Soviet Union, Azerbaijan, Karabakh, EU, Brussels, Melbourne
CNN —A pristine asteroid sample that could serve as a time capsule from the early days of our solar system has finally been revealed. “Far exceeding our goal of 60 grams, this is the biggest carbon-rich asteroid sample ever return to Earth. It’s the largest asteroid sample returned to Earth. The burst of gas lifted rocks and dust all the way from 19 inches (50 centimeters) beneath the space rock’s surface. About 70% of the sample will remain pristine in storage so future generations with better technology can learn even more than what’s now possible.
Persons: Bill Nelson, ” Nelson, Erika Blumenfeld, Joseph Aebersold, NASA’s OSIRIS, REx, Bennu, REx mission’s, Dante Lauretta, OSIRIS Organizations: CNN, NASA, agency’s, Space Center, Canadian Space Agency, Japanese Aerospace Exploration Agency Locations: Utah, Houston
At his first troop review Saturday, Kishida renewed his pledge to consider "all options," including acquiring enemy base strike capability. Japanese and South Korean defense stocks surged on Tuesday as both stock markets returned to their first day of trading following the weekend attack of Israel by Palestinian militants Hamas. In South Korea, defense heavyweights Hanhwa Aerospace — which builds artillery and air defense systems — gained 2.23%, while Korea Aerospace Industries rose 4.07%. KAI produces fighter jets and aviation platforms for the South Korean military. Smaller South Korean defense players saw bigger gains.
Persons: Fumio Kishida, Kishida, Israel, KAI Organizations: Japan's, Defense Force, Hamas, Hanhwa Aerospace, Korea Aerospace Industries, South Korean, Kawasaki Heavy Industries, Japan's Self Defense Forces Locations: Japan, Tokyo, Israel, Gaza, South Korea
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "This decline in yields and increase in bond [prices] is what I want," Jim Cramer said Tuesday. And Club holding Amazon (AMZN) remained the market leader in ecommerce, with 55% of teens citing the platform as their No. 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 .
Persons: Jim Cramer, Philip Jefferson, Vimal Kapur, Jim, Kapur, Piper Sandler, Mary Dillon, Jim Cramer's Organizations: CNBC, Treasury, Federal, West Texas, Club, Honeywell, Aerospace Technologies, Industrial Automation, Energy, Sustainability Solutions, Tuesday, TJX Companies Locations: ecommerce, TJX, FL
CNN —SpaceX is asking federal regulators to correct a report that suggests the company’s Starlink satellite constellation could pose grave risks to people on Earth. The report was delivered to members of Congress by the Federal Aviation Administration, which licenses the launch and reentry of commercial spacecraft, on October 5. The letter also states that 325 Starlink satellites have already deorbited since February 2020, and no debris has been found. For purposes of this report, the FAA uses the more conservative approach,” according to the document. Starlink is mentioned 28 times in the FAA report, while Amazon’s Project Kuiper system is mentioned four times in data tables.
Persons: SpaceX, Starlink, Organizations: CNN, SpaceX, Federal Aviation Administration, Aerospace Corporation, FAA, Federal Communications Commission, Aerospace Corporation “, NASA Locations: China, rulemaking, United States
Wall Street analysts expect defense stocks will continue to move higher as a result of the outbreak of the Israel-Hamas war making it less likely Congress will delay or curb the nation's defense budget. Defense stocks have underperformed as a group this year amid concerns that partisan divisions in Washington point to lower military spending. Notably, Bernstein analyst Douglas Harned doesn't expect the Israel-Hamas conflict will change the path of U.S. defense spending. He cited prior conflicts, such as Russia's invasion of Ukraine last year, that didn't end up boosting the defense budget. LMT 5D mountain Lockheed Martin Regardless, Wall Street broadly anticipates defense stocks could continue rising from current levels.
Persons: Scott Deuschle, Deuschle, Jason Gursky, Bernstein, Douglas Harned doesn't, Harned, Martin, Northrop, Morgan Stanley, Lockheed Martin Organizations: Defense, U.S . Aerospace & Defense ETF, ITA, Wall Street, Defense Department, Pentagon, Deutsche, Citi, Deutsche Bank, Northrop Grumman, Lockheed, Israeli Defense Forces, L3Harris, Army Locations: Israel, Washington, U.S, Gaza, Ukraine, Congress, China, Russia, North Korea
[1/2] A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. The move comes more than three years after it pulled out of a billion-dollar deal to buy the commercial division of local planemaker Embraer (EMBR3.SA). Boeing sees both firms aligned in the goal of developing Brazil's aerospace ecosystem. Boeing's expansion in the South American nation led two domestic defense and aerospace industry groups to sue the U.S. company for hiring local talent, a move they see harming Brazil's industry. Both groups have Embraer as a member,Boeing defended its move, saying its presence will boost Brazil's aerospace ecosystem.
Persons: Benoit Tessier, DOS CAMPOS, Brendan Nelson, Nelson, Sao Jose dos Campos, We're, Landon Loomis, Gabriel Araujo, David Gregorio Our Organizations: Boeing, Paris, REUTERS, SAO, DOS, Embraer, EMBR3, Reuters, SAF, GOLL4, U.S ., America & Caribbean, Thomson Locations: Le Bourget, Paris, France, Brazil, U.S . Brazil, Sao Jose, Sao Paulo, American, U.S, America
Ri singled out a recent trip by the U.S. Space Force commander to Tokyo, and the deployment of a Space Force component in South Korea, where its members took part in joint military drills for the first time this year. Such moves were "nothing but a camouflaged curtain to cover up the scenario for preemptive attack on the anti-U.S. and independent countries," Ri said, mentioning North Korea, China and Russia. DPRK is the initials of North Korea's official name, the Democratic People's Republic of Korea. North Korea has failed twice to place a spy satellite in orbit, both in May and August, and has vowed to try again as early as October. Last month, North Korean leader Kim Jong Un toured Russia's most modern space launch centre, where President Vladimir Putin promised to help him build satellites.
Persons: KCNA, Jin, Ri, Kim Jong Un, Vladimir Putin, Ra Jong Min, Canada's, Ra, Hyonhee Shin, Gerry Doyle Organizations: National Aerospace Technology Administration, U.S . Space Force, Force, DPRK, Democratic People's, North, Thomson Locations: SEOUL, U.S, United States, Asia, Tokyo, South Korea, North Korea, China, Russia, DPRK, Democratic People's Republic of Korea, Canada
How Much Aid Does the U.S. Give to Israel?
  + stars: | 2023-10-10 | by ( Christopher Wolf | Oct. | At P.M. | ) www.usnews.com   time to read: +6 min
For nearly three decades – from fiscal years 1974 to 2002 – Israel was the top recipient of U.S. aid, the longest-standing duration for a top aid recipient dating back to 1946, according to figures from ForeignAssistance.gov. While 2003 to 2020 saw the most aid going to either Iraq or Afghanistan, Israel nevertheless remained a top three aid recipient throughout that time. In 2021, U.S. obligations to Israel amounted to $3.31 billion, a figure that saw Israel returning to the top spot among aid recipients that year. Almost all U.S. aid to Israel recently has been military aid rather than economic aid, in the form of Foreign Military Financing grants – U.S. grants and loans to Israel for acquiring U.S. military equipment and services. Israel saw that rate peak at 30.5% in 1975, but it has slowly been descending since.
Persons: Biden, Gerald R, Ford, Israel, – Israel, Christine Wormuth, Kevin McCarthy’s, Israel’s Rafael, Organizations: United, Foreign Military Financing, U.S, Congressional Research Service, CRS, Israel Defense Forces, Defense Systems, Raytheon, Raytheon Rafael, Protection Systems, Israel Aerospace Industries, Boeing, Israel, World Bank, Russia, USAID . Missile Locations: Israel, U.S, United States, Egypt, ForeignAssistance.gov, Iraq, Afghanistan, Ukraine, – Israel
Solar companies — Shares of solar companies rallied Tuesday, putting the Invesco Solar ETF (TAN) on pace for its best day since March 21. The defense and aerospace companies rose Monday after the Israel-Hamas war began over the weekend. Rivian — Shares of the electric vehicle manufacturer rose more than 5% after UBS upgraded the stock to buy from neutral. Block — Shares added 5.5% after Bank of America reiterated its buy rating on the payments stock. Unity Software — The video game software company added 3.2%.
Persons: Skechers, SolarEdge, Hannon Armstrong, Baird, Rivian, Joseph Spak, Semafor, Jason Kupferberg, efruxifermin, John Riccitiello, James Whitehurst, Davidson, — CNBC's Pia Singh, Tanaya Macheel, Jesse Pound, Michelle Fox, Lisa Kailai Han, Samantha Subin Organizations: UBS, Palantir Technologies, U.S . Army, PepsiCo, LSEG, Sustainability, Bank of America, Electronic Arts, EA's FIFA, Technologies, Northrop Grumman, Hamas, Truist, Therapeutics, Unity Software, Unity, Arm, Deutsche Bank, JPMorgan, Arm Holdings Locations: Israel
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. But late in the afternoon, a senior Hamas official said the group is open to discussions over a possible truce with Israel. A recent surge in U.S. Treasury yields had pressured equities. Shares of the airlines, also hurt by rising oil prices, putting pressure on the S&P 500 Passenger Airlines index (.SPLRCALI). Exchange-traded funds exposed to Israel were selling off, with iShares MSCI Israel ETF falling along with the ARK Israel Innovative Technology ETF .
Persons: Brendan McDermid, Joe Biden, John Augustine, Augustine, Big advancers, iShares, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Dasgupta, Richard Chang Organizations: New York Stock Exchange, REUTERS, Hamas, U.S, Federal, Huntington National Bank, Columbus, Peoples, Treasury, Fund, Nasdaq, Dow Jones, United Airlines, Delta Air Lines, American Airlines, Airlines, Defense, Aerospace, Northrop Grumman, L3Harris Technologies, Exchange, ARK Israel Innovative Technology ETF, Thomson Locations: New York City, U.S, Israel, Palestinian, Gaza, Columbus , Ohio, Tel Aviv, New York, Bengaluru
Energy (.SPNY) was the top S&P 500 sector gainer, jumping 3.6% and on track for its best single-day performance in six months. The airlines' shares were down around 5% each, dragging the S&P 500 Passenger Airlines index (.SPLRCALI) down 4.5% to its lowest in a year. The broader S&P 500 Aerospace & Defense index (.SPLRCAERO) jumped 4.9%. Exchange-traded funds exposed to Israel including iShares MSCI Israel ETF and the ARK Israel Innovative Technology ETF slid 7.8% and 4.6%, respectively. The S&P index recorded four new 52-week highs and 18 new lows, while the Nasdaq recorded 24 new highs and 236 new lows.
Persons: Brendan McDermid, Tesla, Israel, Lloyd Austin, It's, Peter Andersen, Northrop, Lockheed Martin, iShares, decliners, advancers, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Nvidia, Big Tech, U.S, Israel, Dow, Nasdaq, Hamas, U.S . Defense, Dow Jones, Treasury, Columbus Day, Apple, Microsoft, U.S ., Andersen Capital Management, Boston . Energy, United Airlines, Delta Air Lines, American Airlines, Airlines, Defense, Northrop Grumman, General Dynamics, Lockheed, Aerospace, . Exchange, ARK Israel Innovative Technology, Federal, NYSE, Thomson Locations: New York City, U.S, China, Israel, Palestinian, Lebanon, Gaza, United States, Boston, Tel Aviv, Bengaluru
In addition to the novel flat-pack delivery, Luvly is hoping that the electric car’s other features – including its super-light frame and swappable batteries – will make sustainable transport more affordable, says Håkan Lutz, Luvly CEO and co-founder. LuvlyA “Luvly” solutionLuvly O is a “light urban vehicle,” also known as a microcar. Luvly plans to license its patented light vehicle flat-pack framework to other car manufacturers to build their own branded versions. Resource-light and requiring less energy to manufacture than electric passenger cars, light electric vehicles (LEVs) such as microcars could make a serious dent in transport carbon emissions, says Brost. This is where Luvly hopes to add value: inspiring more car manufacturers to develop light urban vehicles with its patented framework.
Persons: it’s, Håkan Lutz, Lutz, Luvly, , , , Luvly isn’t, Citroën, Ami, Mascha Brost, Brost, ” Brost, It’s Organizations: CNN, IKEA, BMW, Formula, Opel, Fiat, Micro, German Aerospace Center, German Aerospace, Institute for Highway, US, Peachtree Locations: Swedish, Stockholm, , Italian, Swiss, Germany, Peachtree City, Georgia
An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. The Wall Street firm said the software stock is at an attractive entry point after its recent pullback. Exxon Mobil , Chevron , Occidental Petroleum — Energy stocks popped as oil prices rallied following the Hamas attack on Israel over the weekend. Blue Owl Capital — Shares of the investment company dropped 2.6% after Oppenheimer downgraded Blue Owl Capital to perform from outperform. Lockheed Martin — The aerospace and defense company saw shares rise about 4.5% in premarket trading following the surprise attack on Israel by Palestinian militant group Hamas over the weekend.
Persons: Walt, Nelson Peltz's, Trian's, Trian, Saket Kalia, Oppenheimer, Bristol Myers, Tesla, Lockheed Martin, — CNBC's Brian Evans, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li, Tanaya Macheel, Pia Singh Organizations: Exxon, Walt Disney —, Street Journal, Management, JPMorgan, Spotify Technology, Barclays, Oracle, ISI, Exxon Mobil, Occidental Petroleum — Energy, Chevron, Occidental, Owl, Mirati Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Lockheed, Hamas Locations: Brooklyn, New York City, Chevron, Israel, China, Palestinian
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