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  • 09:03
    True Cost of Christmas inflation rises 5% this year
    Anita Waters While the Federal Reserve faces a longer road to get inflation down to 2%, a holiday season inflation gauge is well above the dual mandate target. For the last 41 years, PNC has been calculating the \"true cost of Christmas\" based on the prices of the gifts in the song \"The 12 Days of Christmas.\" PNC's 2024 Christmas Price Index rose 5.4% from a year ago. For context, the personal consumption expenditures price index (the Fed's preferred measure) is up 2.4% Y/Y as of November, while the consumer price index ticked up to 2.7% last month. \"Believe it or not, we're still seeing the cause and effect of the pandemic-inflation hangover, even nearly five years later,\" Amanda Agati, CIO of PNC's Asset Management Group, said. \"With years of steep price increases, we'd think inflation has nowhere to go, but we'd be wrong. This latest PNC CPI is an accurate reflection of what we're seeing in the market.\" In dollars, buying all 364 gifts in the song, rose to $209,272. It topped $200K for the first time last year. The biggest inflationary rise was the price of the Partridge in a Pear Tree, which jumped 16%. Six Geese-A-Laying rose 15.4% and Eleven Pipers Piping (as measured by the Philadelphia area musicians union) rose 15.8%. Two Turtle Doves, Four Calling Birds, Five Gold Rings, Seven Swans-A-Swimming and Eight Maids-A-Milking were all flat. The core Christmas index, excluding volatile swans, rose 7.5%.
  • 09:03
    Materials, software stocks are best poised for H1 outperformance: Goldman Sachs
    babyrhino Stocks of companies in the materials and the software and services industries are best poised to outperform the broader market in the next six months, analysts at financial-services firm Goldman Sachs said in a report. They introduced a model for U.S. stocks to pick industries that are poised to outperform an equal-weighted index by 5 percentage points or more “to identify ‘high conviction’ views with significant alpha potential,” David Kostin, strategist at Goldman Sachs, said in a Dec. 20 report. “Our model incorporates macro, fundamental and valuation data as independent variables,” he said. “We run the probit model for each sector separately and only include variables with statistical and economic significance. Our model does not capture fiscal policy changes or secular themes such as artificial intelligence.” Defensive Overweights The model's highest-conviction picks are in materials and in software and services, while it also currently recommends overweights in health care, utilities and real estate. “Our model recommends a large number of defensive overweights in part because of the level of economic growth optimism already priced into the equity market today,” according to Goldman Sachs. The materials industry this year didn’t participate in the cyclical rally, but some companies are poised to gain amid a projected rise in the price of gold and silver. “Weak non-U.S. growth and tariffs represent risks to the sector. Materials underperformed during key tariff announcements during the 2018-2019 trade war,” Goldman Sachs said. “However, the sector's low starting valuation suggests some pessimism is already priced in.” Software and services are positioned to benefit from what is described as a “hand-off” from one phase of artificial intelligence adoption to another – in this case from building infrastructure such as data centers to AI-enabled revenues. “For investors who may be skeptical about the ability of companies to monetize AI, a return of investor focus to non-AI secular growth would likely also translate into demand for many software and services firms,” Goldman Sachs said. Goldman Sachs: Top 5 ranked S&P 500 stocks vs. sector peers on growth and value factors in recommended sector overweights Value Stocks Next 12-Month Price-to-Earnings Ratio Software & Services Cognizant Tech Solutions (NASDAQ:CTSH) 16 Akamai Technologies (NASDAQ:AKAM) 14 Gen Digital (NASDAQ:GEN) 11 EPAM Systems (NYSE:EPAM) 22 International Business Machines (NYSE:IBM) 21 Utilities Exelon (NASDAQ:EXC) 14 Evergy (NASDAQ:EVRG) 15 NRG Energy (NYSE:NRG) 12 Consolidated Edison (NYSE:ED) 16 Edison International (NYSE:EIX) 14 Health Care Viatris (NASDAQ:VTRS) 5 Universal Health Service (NYSE:UHS) 10 Biogen (NASDAQ:BIIB) 9 Cigna Group (NYSE:CI) 9 HCA Healthcare (NYSE:HCA) 12 Materials Nucor (NYSE:NUE) 14 Mosaic (NYSE:MOS) 10 Celanese (NYSE:CE) 7 LyondellBasell Industries (NYSE:LYB) 9 Eastman Chemical (NYSE:EMN) 10 Real Estate VICI Properties (NYSE:VICI) 12 Alexandria Real Estate Equities (NYSE:ARE) 10 Host Hotels & Resorts (NASDAQ:HST) 9 Kimco Realty Corp. (NYSE:KIM) 13 Realty Income Corp. (NYSE:O) 12 Growth Stocks 2025 EPS growth Software & Services Palantir Technologies (NASDAQ:PLTR) 25% CrowdStrike Holdings (NASDAQ:CRWD) 15% PTC (NASDAQ:PTC) 30% Fair Isaac (NYSE:FICO) 25% ServiceNow (NYSE:NOW) 20% Utilities FirstEnergy Corp. (NYSE:FE) 8% PG&E (NYSE:PCG) 9% Dominion Energy (NYSE:D) 23% Vistra (NYSE:VST) 44% Edison International (EIX) 15% Health Care Eli Lilly (NYSE:LLY) 71% Merck & Co. (NYSE:MRK) 22% Boston Scientific (NYSE:BSX) 14% Incyte (NASDAQ:INCY) 367% Insulet (NASDAQ:PODD) 17% Materials Newmont Corp. (NYSE:NEM) 25% Freeport-McMoRan (NYSE:FCX) 38% Packaging of America (NYSE:PKG) 24% Ecolab (NYSE:ECL) 13% Dow (NYSE:DOW) 42% Real Estate Welltower (NYSE:WELL) 15% CBRE Group (NYSE:CBRE) 21% Realty Income (O) 31% Alexandria Real Estate Equities (ARE) 7% American Tower (NYSE:AMT) 35%
2024.12.21
  • 09:08
    Expion360 announces chief financial officer departure
    Expion360(NASDAQ:XPON) announced the resignation of Greg Aydelott, chief financial officer of the company, effective December 31, 2024.Aydelott intends to remain available to the company on an ongoing basis as a consultant to ensure a smooth transition.The board has appointed the chief executive officer, Brian Schaffner, as interim CFO, and principal financial and accounting officer, effective December 31, 2024.The company is conducting a search process to identify a new CFO.Source:Press Release
  • 09:08
    Alamo Group announces CEO retirement
    Alamo Group (NYSE:ALG) announced that Jeff Leonard, the company's president and CEO, has informed the board of his intention to retire, preferably by mid-year 2025 and upon the appointment of his successor.The company anticipates naming a new president and CEOwithin the next several months.Source: Press Release
  • 09:07
    Eli Lilly's Zepbound gains sleep apnea indication
    NicolasMcComber/iStock via Getty Images The U.S. FDA has approved an additional indication for Eli Lilly's (NYSE:LLY) Zepbound (tirzepatide) to include obstructive sleep apnea in obese adults. The approval was based on results from a phase 3 trial that showed the drug benefitted individuals irregardless
  • 09:07
    Jiayin Group announces purchase of commercial property
    Jiayin Group (NASDAQ:JFIN) on Friday saidit entered into a definitive agreement to purchase certain commercial property located in Shanghai, China,of approximately 43,500 square meters for total cash consideration of approximately RMB1.35 billion.The commercial property will primarily be used as the company's new headquarters. Source: Press Release
  • 09:07
    NiCAN announces settlement of debt for shares
    NiCAN Limited (TSXV:NICN:CA) said on Friday that it has negotiated the settlement of $269,799 related to drilling services provided to the company in 2023 in consideration for the issuance of 300,000 common shares of the company.The common shares issued pursuant to the debt settlement will be subject to a statutory hold period, which will expire four months and one day from the date of closing of the debt settlement.
  • 09:06
    EMERGE appoints interim CFO
    EMERGE Commerce (TSXV:ECOM:CA) announcedappointment of Dasha Enenko, CPA, CA as interim chief financial officer and corporate secretary, effective February 2025.Dasha will succeedKyle Burt-Gerrans, who will be stepping down to pursue other opportunities. Kyle will remain with the company until January 31, 2025.Source:Press Release
  • 09:06
    Jury finds Qualcomm did not breach Nuvia's license agreement with Arm
    JHVEPhoto A federal jury found that Qualcomm (NASDAQ:QCOM) did not breach Nuvia's license agreement with Arm Holdings (NASDAQ:ARM). The eight-person jury in the Delware federal court added that Qualcomm's custom CPUs, which are used in Microsoft (MSFT) PCs, are licensed legally as part of its existing deal with Arm. Qualcomm shares rose 2.2% in extended trading on Friday, while Arm tumbled 1.8%. \"We are pleased with today’s decision,\" Qualcomm General Counsel and Corporate Secretary Ann Chaplin said in a statement. \"The jury has vindicated Qualcomm’s right to innovate and affirmed that all the Qualcomm products at issue in the case are protected by Qualcomm’s contract with ARM. We will continue to develop performance-leading, world class products that benefit consumers worldwide, with our incredible Oryon ARM-compliant custom CPUs.\" Arm did not immediately respond to a request for comment from Seeking Alpha. The spat stemmed from whether Qualcomm-owned Nuvia breached a licensing agreement with Arm. While Nuvia and Qualcomm are licensors of Arm's technology, Qualcomm believed its acquisition of Nuvia would allow it to pay lower royalties than it had previously, something Arm objected to. Arm sued Qualcomm in 2022 over the matter and canceled its chip license earlier this year as a result of the matter. San Diego-based Qualcomm purchased Nuvia in March 2021 for $1.4B and said at the time it expected to integrate Nuvia's products \"across a wide portfolio of products,\" including smartphones, laptops, advanced driver assistance systems and infrastructure networking solutions. (This story has been updated to include Qualcomm's statement.)
  • 09:06
    Vertex wins approval of new cystic fibrosis therapy Alyftrek
    CTRPhotos/iStock via Getty Images The U.S. FDA has approved Vertex Pharmaceuticals' (NASDAQ:VRTX) Alyftrek (vanzacaftor/tezacaftor/deutivacaftor), a once-daily cystic fibrosis treatment. The drug is considered a next-in-class triple combination transmembrane conductance regulator (CFTR) modulator. It is approved for those six years and older who have at least one F508del mutation
2024.12.20
2024.12.19
  • 18:00
    Eureka Lithium announces private placement to raise $300K via flow-through offering
    Eureka Lithium (OTCQB:UREKF)announcedon Wednesday, anon-brokered private placementfor gross proceeds of $300K consisting of the sale of 1.36 million common shares that qualify as \"flow-through shares\" at a price of $0.22 per share.Theclosing of the private placement is expected to occur on or about December 27, 2024.The flow-through shares will have a hold period of four months and one day from the date of issue.The net proceeds from the offering are intended to be used to advance the company's Raglan West, Raglan South and New Leaf Camps.
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