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A budding ecosystem of companies stand to gain as businesses and policymakers grow increasingly focused on improving the electric grid. President Joe Biden committed $95 million to shore up Hawaii's electric grid following the tragedy. Beyond that, Kalton said it's also just good business sense: Utility companies don't want their grids to go down and leave unhappy customers without power. And he said utility companies can grow earnings power by spending capital and increasing their base rate. An ecosystem of companies Beyond physically changing the grid, some companies are making progress elsewhere, said Chanin, whose ETF is up about 18% this year.
Persons: Neil Kalton, Joe Biden, It's, , Said, Kalton, it's, Steven Fisher, doesn't, Fisher, Andrew Chanin, Chanin, Eaton, Michael Bloom Organizations: NBC News, Electric, UBS, Primoris Services, LSEG, Nvidia Locations: Maui, U.S, Wells Fargo, California , Colorado, Oregon, California, Florida, Texas
Goldman Sachs and Bank of America named an assortment of companies this week that they say have upside in the weeks ahead. NextEra Energy Buy the dip in shares of the renewable energy company, Goldman analyst Carley Davenport says. Endeavor Group Bank of America analyst Jessica Reif Ehrlich said earlier this week that shares of the media company offer "striking value." Endeavor Group- Bank of America, buy rating "An entourage of highly attractive assets. ... .We continue to believe that valuation is attractive..." H World Group Limited- Bank of America, buy rating "Shares weak despite solid results = attractive opportunity.
Persons: Goldman Sachs, Goldman, Carley Davenport, Davenport, she's, Jessica Reif Ehrlich, Reif Ehrlich, BofA, Neil Mehta, Mehta Organizations: Bank of America, CNBC, Marathon Petroleum, Endeavor, H, NextEra, Florida, Endeavor Group Bank of America, WWE, UFC, Media, Entertainment, MPC, Petroleum, ~$ Locations: China
Hurricane Idalia hits Florida's west coast in a composite image from the National Oceanic and Atmospheric Administration (NOAA) GOES-East weather satellite August 30, 2023. NOAA/Handout REUTERS Acquire Licensing RightsNEW YORK, Aug 30 (Reuters) - Millions of Florida residents evacuated to higher ground after Hurricane Idalia, an "extremely dangerous" Category 3 storm, made landfall on Wednesday at the state's Gulf Coast. Idalia was forecast to unleash destructive winds and torrential downpours that will cause coastal flooding up to 16 feet (5 m) deep. An early news briefing by Florida Governor Ron DeSantis was interrupted for a few seconds by a power cut. Shares of NextEra Energy (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $67.51.
Persons: Idalia, Ron DeSantis, Kinder Morgan, Owens Corning's, Chibuike Oguh, Lance Tupper, Marguerita Choy Organizations: National Oceanic, Atmospheric Administration, NOAA, Handout REUTERS, Florida, NextEra Energy, Florida Power & Light Company, Duke Energy, Generac Holdings, Chevron, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Gulf Coast, Idalia, Georgia, South Carolina, U.S, Gulf, Mexico, New York
Morgan Stanley downgrades Farfetch to equal weight from overweight Morgan Stanley said it sees limited catalysts ahead for the stock. UBS upgrades Oracle to buy from neutral UBS said Oracle has upside potential. Wells Fargo upgrades Rockwell Automation to equal weight from underweight Wells Fargo upgraded the stock mainly on valuation. UBS reiterates Microsoft as buy UBS said supply chain constraints are manageable for Microsoft. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said Nvidia's blowout earnings report last week is positive for the AI supply chain. "
Persons: Fargo, Goldman Sachs, Wells Fargo, Goldman, DA Davidson, Davidson, Morgan Stanley downgrades Farfetch, Morgan Stanley, Wells, Bernstein, Airbnb, Palantir, Splunk, Jefferies, Raymond James Organizations: Federal Trade Commission, Amazon, UBS, Oracle, Nvidia, Citi, Verizon, AT, VZ, JPMorgan, Pace, Business, Rockwell Automation, Disney, Microsoft, Bank of America, Jefferies, Holdings, underperform Bank of America, China, NVIDIA, Energy Partners, NextEra Energy Partners Locations: China and Hong Kong, HK, Asia
Best Buy — Shares popped nearly 6% after the retailer's fiscal second-quarter earnings beat on both the top and bottom lines. Big Lots — The discount retailer surged 26.7% after its earnings report came in better than analysts expected. Big Lots lost $3.24 per share, on an adjusted basis, less than the $4.11 forecasted by analysts surveyed by FactSet. Bernstein reiterated its outperform rating and said investors should buy the stock after a recent pullback in share prices. Futu Holdings — The Asian wealth management stock popped 10% following a double-upgrade to buy from underperform by Bank of America.
Persons: Heico, Tesla, Morgan Stanley, tailwinds, General Motors, they're, — Catalent, Catalent, Elliott, Ginkgo, Wells, it's, Bernstein, Jefferies, Splunk, Raymond James, , Sarah Min, Samantha Subin, Yun Li, Hakyung Kim, Michelle Fox, Pia Singh, Jesse Pound Organizations: Refintiv, Revenue, FactSet, Marathon, Securities and Exchange Commission, Marathon Digital, Industry, Nvidia, Holdings —, Oracle — Software, Oracle, UBS, Verizon, Citi, General Motors, Google, General, Motors, Elliott Investment Management, Rockwell Automation, Bank of America, Futu Holdings, NextEra Energy Partners Locations: San Francisco , California, underperform
Factbox: Stocks to watch as Idalia makes landfall in Florida
  + stars: | 2023-08-28 | by ( ) www.reuters.com   time to read: +2 min
Electric power transmission pylon miniatures and Nextera Energy logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 28 (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state's Gulf Coast by Wednesday morning. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Shares of NextEra Energy Inc (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $68.06, up 0.154%. Reporting by Chibuike Oguh in New York; editing by Lance Tupper and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Idalia, Here's, Ron DeSantis, , Owens Corning, Chibuike Oguh, Lance Tupper, Nick Zieminski Organizations: REUTERS, Simpson, National Hurricane Center, POWER Florida, NextEra Energy Inc, Florida Power & Light Company, Duke Energy Corp, Generac Holdings, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Coast, Big, New York
Stocks to watch as Idalia makes landfall in Florida
  + stars: | 2023-08-28 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 28 (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state's Gulf Coast by Wednesday morning. Idalia is predicted to transform into a Category 3 on the Saffir-Simpson Hurricane Wind Scale when it makes landfall in northern Florida's Big Bend area, where the panhandle transitions into the peninsula, the National Hurricane Center said. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Shares of NextEra Energy Inc (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $68.06, up 0.154%. Duke Energy Corp (DUK.N) said on Monday it is mobilizing approximately 4,500 people - power line technicians, vegetation workers, damage assessors and support personnel – to respond to power outages as Idalia reaches Florida.
Persons: Dado Ruvic, Idalia, Here's, Ron DeSantis, , Owens Corning, Chibuike Oguh, Lance Tupper, Nick Zieminski Organizations: REUTERS, Simpson, National Hurricane Center, POWER Florida, NextEra Energy Inc, Florida Power & Light Company, Duke Energy Corp, Generac Holdings, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Coast, Big, New York
Mutual fund managers have been able to generate alpha outside of Big Tech this year, with some stocks contributing sizable gains, according to Goldman Sachs. Goldman found the large-cap core have struggled this year due to their underweight in the largest tech stocks, which have led the market rally. However, mutual fund managers were able to find winners elsewhere, Goldman said. "An improving stock picking environment has helped mutual fund PMs generate alpha elsewhere in their portfolios," Goldman strategists said in a note. Top gainers in mutual fund portfolios also included energy stocks Chevron , Exxon Mobil and NextEra Energy.
Persons: Goldman Sachs, Goldman, Russell, — CNBC's Michael Bloom Organizations: Big Tech, Alpha, Pfizer, Johnson, Moderna, Chevron, Exxon Mobil, NextEra Energy
The JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is dominating the competition. Of course, Reiner and his colleagues, Eric Moreau and Andrew Stern, aren't complaining about their fund's 22.6% rise in 2023. It's hard to poke holes in JPMorgan's growth-focused income ETF. JPMorgan's income-focused ETF uses an AI model that gathers and sorts through a treasure trove of information, especially financial statements, to help find suitable investments. Other than putting a premium on income and using AI to find standout stocks, a pair of traits that make JPMorgan's income ETF sing are its transparency and its liquidity.
Persons: Hamilton Reiner, Reiner, Eric Moreau, Andrew Stern, aren't, what's, it'll, Morningstar, , I'm, Moreau, Stern didn't, they've, Bonds, — it's, it's, Moreau spotlighted, he's Organizations: JPMorgan Nasdaq Equity, Nasdaq, JPMorgan, NXP Semiconductors, NextEra Energy, NextEra Locations: Netherlands, Florida
Final Trades: NextEra Energy, Stryker & Zimmer Holdings
  + stars: | 2023-08-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: NextEra Energy, Stryker & Zimmer HoldingsThe "Halftime Report" traders give their top picks to watch for the second half.
Organizations: NextEra Energy, Stryker, Zimmer Holdings
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: CVS stock is fine but not great because of shrinkage, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Opendoor, Nextera Energy, CVS Health, ChargePoint and more.
Persons: Jim Cramer Organizations: Nextera Energy, CVS Health
Cramer's Lightning Round: Don't touch ChargePoint
  + stars: | 2023-08-15 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Opendoor's year-to-date stock performance. Stock Chart Icon Stock chart icon Nextera Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon CVS's year-to-date stock performance. Because of shrinkage, because of pilferage, because of those darned plastic things that are like in front of every single thing you want to buy..."Stock Chart Icon Stock chart icon ChargePoint's year-to-date stock performance. Stock Chart Icon Stock chart icon Volaris' year-to-date stock performance.
Persons: Nextera, it's, I'm, ChargePoint's, Volaris, I've Organizations: Nextera Locations: Mexico
Following this week's moves, CNBC Pro used FactSet data to screen for the most overbought and oversold names in the S & P 500 based on their 14-day relative strength index, or RSI. Here are some of the most oversold names: SolarEdge is one of the most oversold companies in the S & P 500. NextEra Energy had the highest number of analyst buy ratings among the stocks on the oversold list, according to CNBC's screen. Meanwhile, the following 10 stocks are the most overbought in the S & P 500: Marathon Petroleum is the most overbought stock in the broad-based index, with an RSI of 96.3. Oilfield servicer Halliburton Company , Cessna aircraft maker Textron and construction services provider Jacobs Solutions are also among the most overbought companies in the S & P 500.
Persons: Dow Jones Industrials, SolarEdge Organizations: SolarEdge Technologies, Nasdaq, Nvidia, Micron, CNBC Pro, Street, NextEra Energy, Moderna, GE Healthcare Technologies, Ameren Corporation, Enphase Energy, Marathon Petroleum, Biotech, Global Payments, Jefferies, servicer Halliburton Company, Cessna, Textron, Jacobs Solutions Locations: Florida, Cambridge , Massachusetts
Global dividends will total just over $2 billion in 2023, completely flat with last year, according to a new report from S & P Global Market Intelligence. This the lowest growth rate in the last 10 years aside from the pandemic contraction in 2020, the new report from S & P notes. As a first step, we looked at companies that are in the S & P Dividend Aristocrats index. S & P Global is another name on the list. For investors looking for dividend growth who do not want to bet on individual names, the ProShares S & P 500 Dividend Aristocrats ETF tracks the performance of the special S & P index.
Persons: Albemarle Organizations: Wall, P Global Market Intelligence, CNBC, Global, P Global, Utilities, NextEra Energy, Industrial, Emerson Electric, General Dynamics Corporation, General Dynamics
Lengths of pipe wait to be laid in the ground along the under-construction Mountain Valley Pipeline near Elliston, Virginia, U.S. September 29, 2019. REUTERS/Charles Mostoller/File PhotoAug 1 (Reuters) - U.S. energy company Equitrans Midstream (ETRN.N) on Tuesday said it still expects to complete the Mountain Valley natural gas pipeline by the end of the year despite being tangled in numerous court fights since construction began in 2018. Mountain Valley is key to unlocking gas supplies from Appalachia, the nation's biggest shale gas-producing basin in Pennsylvania, Ohio and West Virginia. When Mountain Valley started construction in February 2018, Equitrans estimated the 2.0-billion cubic feet per day project would cost about $3.5 billion and enter service by late 2018. The 303-mile (488-kilometer) Mountain Valley project is owned by units of Equitrans, the lead partner building the pipe with a roughly 48.3% interest, NextEra Energy (NEE.N), Consolidated Edison (ED.N), AltaGas (ALA.TO) and RGC Resources (RGCO.O).
Persons: Charles Mostoller, Thomas Karam, Scott DiSavino, Marguerita Choy Organizations: REUTERS, U.S, Supreme, U.S ., Equitrans, NextEra Energy, Consolidated Edison, RGC Resources, Thomson Locations: Elliston , Virginia, U.S, West Virginia, Virginia, Appalachia, Pennsylvania , Ohio, U.S . Congress
Look beyond tech But there are opportunities beyond tech: Morningstar data reveals the funds outside of tech and growth sectors that have also outperformed over the last five years. Top holdings include Home Depot, Johnson Controls International, Floor & Décor and Trane Technologies. Guinness Atkinson Alternative Energy Fund : This fund picks companies in the alternative energy sector, with at least half of the business dedicated to renewable energy or energy efficiency. Global X Lithium and Battery Tech ETF : The ETF comprises lithium producers and lithium battery makers — all essential to electric vehicles. Top holdings include United Airlines, Marathon Oil, Tyson Foods, Best Buy, and Synchrony Financial.
Persons: James Demmert, Hubbell, MasTec, Invesco Russell, Russell, Vanguard Baillie Gifford Organizations: Street Research, U.S . Federal, Morningstar, Enphase Energy, Fidelity, Housing, Home, Johnson, Trane Technologies, Guinness Atkinson Alternative Energy Fund, Schneider, NextEra Energy, Shelton Sustainable Equity Fund, Bunge, Battery Tech ETF, Samsung SDI, Trust, Industrial Renaissance, SPX Technologies, Sterling Infrastructure, Global, U.S . Infrastructure Development, Holdings, Rockwell Automation, United Rentals, Deere, Co, United Airlines, Marathon Oil, Tyson Foods, Synchrony, Heptagon, Equity Fund, Xenon Pharmaceuticals, TransMedics, FTAI Aviation, Vanguard, Moderna, Alnylam Pharmaceuticals, Coursera, Water Resources, Nasdaq, Water Locations: Luxembourg, Eaton, Albemarle
Morning Bid: Big Tech litmus test as Fed gather
  + stars: | 2023-07-25 | by ( ) www.reuters.com   time to read: +4 min
The wider blue-chip CSI 300 Index (.CSI300) snapped a six-day losing streak to pop 3% and buying from state banks propped the yuan. Both oil and Treasury yields gave back some of those gains again today, however, with year-on-year crude price declines still tracking more than 21%. There was little ostensible reaction to the formal rebalancing of the Nasdaq 100 (.NDX) index that pared weightings of several of the big caps to reduce "over-concentration". The approach of Wednesday's Fed decision may limit market moves until then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Mike Dolan, sagged, Dow Jones bluechips, Alphabet's, Clark, Chubb, Paccar, Sherwin, Williams, Archer, Ed Osmond Organizations: Big Tech, Microsoft, Federal Reserve, European Central Bank, ebbing, Nasdaq, Google, Texas, NextEra Energy, Visa, GE, GM, Dow, Verizon, Universal Health, Daniels, Richmond Fed, Philadelphia Fed, Federal, Market, Monetary Fund, Treasury, Reuters, Thomson Locations: U.S, Hong, Europe, China, Danaher, Corning, Kimberly, Biogen, Dover, Nucor, Midland
Swiss bank UBS has revealed a list of "key investment ideas," selecting stocks based on factors such as market conditions, economic trends and government policy. "We focus on the equity asset class and highlight our best single stock ideas in the US tied to select messages," the bank's Chief Investment Office stated in a July 17 research note, adding that its ideas are updated monthly. It also chose wind energy company Xcel Energy , which it said is "well positioned to outperform the S & P Utilities index over the next 12 months." Green investment, infrastructure ideas "Green investment, decarbonization commitments, consumer sentiment, and regulation will continue to drive the case for investing sustainably," UBS said in the note, picking several stocks under the "go sustainable" theme. "The stock ideas listed under key investment ideas reflect current views as of publication," the bank stated.
Persons: Burger King, Carey, telco, — CNBC's Michael Bloom Organizations: UBS, Investment, Brands, Xcel Energy, TJX Companies, Air Products, NextEra Energy, Constellation Energy, U.S Locations: North America, China
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
A new ETF is making a big bet on real estate and other hard assets. CBRE's Investment Management launched the IQ CBRE Real Assets ETF in May with the idea that it will deliver inflation protection in a rising interest rate environment. "The ETF market is lacking options in this space," the ETF's portfolio manager, Dan Foley, told CNBC's "ETF Edge" on Thursday. Plus, he noted that hard assets are crucial in enabling a digital economy in the first place. Since the IQ CBRE Real Assets ETF launched May 10, it's down almost 6%.
Persons: Dan Foley, CNBC's, Foley, decarbonization, it's Organizations: CBRE's Investment Management, ETF, New, Life Investments, Nextera Energy, Assets ETF Locations: Wall
Utility stocks are poised to capitalize on a clean energy future, according to Goldman Sachs. The shift to clean energy will require a "significant" amount of capital investment, which will contribute to attractive earnings and rate base growth, Davenport said. Among the names Goldman rated a buy are American Electric Power, NextEra Energy, Sempra and Southern Co. American Electric Power and NextEra Energy both hit several of Goldman's themes. NextEra Energy offers more than 21% upside to Goldman's price target, plus a 2.5% dividend yield. Meanwhile, Sempra is also an attractive growth opportunity, Davenport said.
Persons: Goldman Sachs, enablers, Carly Davenport, Davenport, Goldman, Sempra, CNBC's Michael Bloom Organizations: Utilities, Fund, Industry, American Electric Power, NextEra Energy, Sempra, Southern Co . American Electric Power, NextEra, Florida, Electric, LNG, Infrastructure, Southern Co Locations: United States, Southern, FPL, Texas
Jefferies downgrades Las Vegas Sands and Wynn to hold from buy Jefferies downgraded several casino stocks, mainly on valuation. Jefferies reiterates Apple as buy Jefferies said it stands by its buy rating on the Mac maker but that it's concerned about the lack of social experience with Apple's VR technology. Jefferies reiterates GameStop as hold Jefferies said the revolving door of GameStop executives is "more of the same" for the company. Skechers is the world's 3rd largest footwear brand and an underappreciated growth stock, in our view." Bank of America reiterates Lowe's as a buy Bank of America said investors should buy the stock "when the market is fearful."
Persons: Wells, Jefferies, Wynn, WYNN, LVS, Oppenheimer, Apple, Wolfe, Goldman Sachs, Salesforce, Goldman, Morgan Stanley, Skechers, Lowe's, Bernstein Organizations: Vegas Sands, Citi, Apple, VR, GameStop, Mobile, Smart, Rio Tinto, UBS, Amazon, Carrier, Bank of America, of America, NextEra Energy, Xcel Energy, American Electric Power, Barclays, FedEx Locations: Vegas, Rio, China, 2023E
[1/2] U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. REUTERS/Leah MillisWASHINGTON, May 28 (Reuters) - U.S. energy company Equitrans Midstream Corp's (ETRN.N) long-delayed $6.6 billion Mountain Valley natural gas pipeline could win federal approval as part of Washington's debt limit deal. The pipeline is backed by Democratic West Virginia Senator Joe Manchin, whose vote is often needed since the Democrats hold a thin majority in that body. The pipeline, which would unlock gas supplies from Appalachia, the country's biggest shale gas basin, still needs review and permitting including in West Virginia. Mountain Valley is owned by units of Equitrans, NextEra Energy Inc (NEE.N), Consolidated Edison Inc (ED.N), AltaGas Ltd (ALA.TO) and RGC Resources Inc (RGCO.O).
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: 'I've doubled down on my negativity' towards Zim, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Zim, CTI Biopharma, Palantir, Nextera Energy, HF Sinclair, Veeva Systems, and Range Resources.
Cramer's Lightning Round: Keep an eye on Palantir
  + stars: | 2023-05-19 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Zim Integrated Shipping's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon Nextera Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon HF Sinclair Corporation's year-to-date stock performance. Stock Chart Icon Stock chart icon Veeva Systems' year-to-date stock performance.
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