ReportWire

Tag: port

  • Homeland Security suspends TSA PreCheck and Global Entry

    [ad_1]

    Homeland Security suspends TSA PreCheck and Global Entry airport security programs

    MARSHALL AIRPORT, WHERE OUR KATE AMARA IS REPORTING THE LATEST DETAILS. ACCORDING TO FEDERAL OFFICIALS, 61,000 TSA OFFICERS, 56,000 COAST GUARD EMPLOYEES, AND THOUSANDS MORE FEMA, SECRET SERVICE AND CSO WORKERS ARE CURRENTLY ON THE JOB AND ON THE CLOCK WITHOUT GETTING PAID FOR IT. THERE’S NO ONE HERE, AND IT LOOKS LIKE PRECHECK IS 1 TO 3 MINUTES, SO I THINK IT’S OKAY. AT BWI MONDAY AFTERNOON, ALL THREE SECURITY CHECKPOINTS WERE OPEN AND LINE FREE. BUSINESS AS USUAL. ACCORDING TO TICKETED PASSENGERS WE TALKED TO. LET’S SEE WHAT HAPPENED. WE’RE HOPING FOR THE BEST. MANY AWARE THAT THEY WERE FLYING DURING A PARTIAL GOVERNMENT SHUTDOWN AND THAT TSA OFFICERS AT U.S. AIRPORTS WERE WORKING WITHOUT GETTING PAID. I HAVE A FAMILY MEMBER THAT WORKED WORKED FOR FEDERAL GOVERNMENT. HE KEPT COMPLAINING LIKE, WHAT? THESE DAYS? WHY ARE WE GOING THROUGH THIS? WE WORK SO HARD. WE’VE BEEN IN THIS SYSTEM FOR SO LONG, SO WHY DO WE HAVE TO GO THROUGH THIS? BALTIMORE’S TSA OFFICERS AMONG 61,000 NATIONWIDE REQUIRED TO WORK WITHOUT PAY DURING THE SHUTDOWN. THE ACTING ADMINISTRATOR TOLD MEMBERS OF CONGRESS AT A HEARING LAST WEEK. AND SHE SAID MANY ARE STILL PLAYING CATCH UP FINANCIALLY FROM THE LAST SHUTDOWN LAST FALL. THAT LASTED 43 DAYS. WE HEARD REPORTS OF OFFICERS SLEEPING IN THEIR CARS AT AIRPORTS TO SAVE MONEY ON GAS, SELLING THEIR BLOOD AND PLASMA, AND TAKING ON SECOND JOBS TO MAKE ENDS MEET. LAWMAKERS ALSO HEARD FROM THE HEADS OF FEMA, CISA, THE SECRET SERVICE AND THE COAST GUARD. THE UNCERTAINTY OF MISSING PAYCHECKS NEGATIVELY IMPACTS READINESS AND CREATES A SIGNIFICANT FINANCIAL HARDSHIP FOR SERVICE MEMBERS AND THEIR FAMILIES. LABOR LEADERS ALSO WORRIED ABOUT THE STEEP PERSONAL AND PROFESSIONAL CONSEQUENCES FOR MEMBERS DURING THE SECOND SHUTDOWN. IN THE SPAN OF FIVE MONTHS. FOR ME, EVENTUALLY IT’S GOING TO COME DOWN TO DO. I PUT GAS IN THE CAR TO GO TO WORK FOR FREE, OR DO I PUT FOOD ON THE TABLE WITH THAT MONEY FOR MY KIDS? LAWMAKERS LEFT WASHINGTON LAST WEEK FOR A PLANNED RECESS THIS WEEK, WITH NO PLANS TO RETURN. COMPOUNDING CONCERNS FOR MANY ON THE GROUND HERE AND ELSEWHERE ABOUT JUST HOW LONG THIS PARTIAL

    Homeland Security suspends TSA PreCheck and Global Entry airport security programs

    Updated: 11:59 PM EST Feb 21, 2026

    Editorial Standards ⓘ

    The U.S. Department of Homeland Security is suspending the TSA PreCheck and Global Entry airport security programs as a partial government shutdown continues.The programs are designed to help speed registered travelers through security lines. Suspending them could cause headaches for fliers.Video above: TSA officers working without pay amid partial government shutdownHomeland Security Secretary Kristi Noem said in a statement that “shutdowns have serious real world consequences.” She also said that “TSA and CBP are prioritizing the general traveling population at our airports and ports of entry and suspending courtesy and special privilege escorts.”The partial government shutdown began Feb. 14 after Democrats and the White House were unable to reach a deal on legislation to fund the Department of Homeland Security. Democrats have been demanding changes to immigration operations that are core to President Donald Trump’s deportation campaign.

    WASHINGTON —

    The U.S. Department of Homeland Security is suspending the TSA PreCheck and Global Entry airport security programs as a partial government shutdown continues.

    The programs are designed to help speed registered travelers through security lines. Suspending them could cause headaches for fliers.

    Video above: TSA officers working without pay amid partial government shutdown

    Homeland Security Secretary Kristi Noem said in a statement that “shutdowns have serious real world consequences.” She also said that “TSA and CBP are prioritizing the general traveling population at our airports and ports of entry and suspending courtesy and special privilege escorts.”

    The partial government shutdown began Feb. 14 after Democrats and the White House were unable to reach a deal on legislation to fund the Department of Homeland Security. Democrats have been demanding changes to immigration operations that are core to President Donald Trump’s deportation campaign.

    [ad_2]

    Source link

  • What the Supreme Court’s decision to strike down tariffs means for L.A.’s trade-dependent economy

    [ad_1]

    The Supreme Court’s decision Friday to strike down the majority of tariffs imposed by President Trump could provide some relief to L.A.’s trade-reliant economy — but only if they are not reimposed again through other means.

    The court’s 6-3 ruling that Trump didn’t have the authority to impose tariffs under the International Emergency Economic Powers Act rolled back levies that have upended international trade.

    “We’ve seen that the tariffs have a significant impact on our supply chain, on our manufacturers and especially on our port logistics and trade sector,” said Stephen Cheung, chief executive of the nonprofit Los Angeles County Economic Development Corp.

    “I think this decision will have a significant impact on the Los Angeles economy. However, it’s going to take a long time to unravel, so we’ll see specifically how everything is going to pan out,” he said.

    The tariffs dealt a blow to a large swath of businesses in Southern California and across the state, including farmers, automakers, home builders, tech companies and apparel retailers.

    MGA Entertainment, the Chatsworth maker of Bratz dolls, said a little more than half of its products are made in China, while hardware and lumber seller Anawalt in Malibu said the majority of its lumber comes from Canada and nearly all of its steel products are made in China.

    During a news conference Friday following the decision, Trump said that under other legal authorities he would impose a 10% global tariff and pursue additional levies, including a possible 30% tariff on foreign cars. Later in the day he signed an order imposing the 10% tax, which takes effect Feb. 24.

    “The Supreme Court’s ruling on tariffs is deeply disappointing, and I’m ashamed of certain members of the court — absolutely ashamed,” Trump said. “They’re very unpatriotic and disloyal to our Constitution.”

    Friday’s high-court decision affects up to $170 billion in tariffs collected under the International Emergency Economic Powers Act of 1977, including 10% to 50% duties and penalties on China, Canada and Mexico.

    Whether importers who paid the tax can seek refunds was left to a lower court to decide. It’s estimated some $100 billion in tariffs were not affected by the decision.

    The ports of Los Angeles and Long Beach — which handle nearly a third of the nation’s containerized cargo and are the primary trade gateway to Asia — saw a surge of traffic the first half of last year as importers sought to get ahead of the tariffs, largely imposed in April.

    However, traffic tailed off the second half of the year, with the L.A. port expecting a single-digit decline in volume this year before Friday’s decision.

    The twin facilities form the largest ports complex in North America, supporting more than 200,000 jobs and contributing $28 billion to the regional economy in 2022, according to a California Center for Jobs & the Economy report.

    The uncertainty surrounding the tariffs derives from the complexity of the tariffs themselves — as well as the other legal options Trump has to impose them again.

    Mike Jacob, president of the Pacific Merchant Shipping Assn., which represents ocean carriers, marine terminal operators and others in the industry, said the tendency is to think of the tariffs as uniform.

    “It was different rates for different countries. That was compounded by different rates for different commodities. And there’s a lot of changes that have occurred with specific commodities,” he said. “So it’s almost impossible to take a broad brush and say, here’s what we expect to happen — except to say that it’s still a pretty unsettled space.”

    In imposing a 10% global tariff, Trump would be relying on a provision of the Trade Act of 1974, while his ability to pursue additional levies would rely on other law.

    Economist Jock O’Connell, international trade advisor at L.A.’s Beacon Economics, said that Trump may have authority to impose the 10% global tariffs, but additional levies would involve trade authorities.

    “That would be a cumbersome process. The tariffs have to be more specifically framed and the subject of an investigation,” he said.

    Also complicating the process are trade deals the U.S. has been negotiating with foreign countries based on the tariffs. O’Connell expects they will seek to renegotiate them.

    “They’re likely to come back to the table and say, ‘Well, you don’t have the authority to impose these,’” he said.

    Gene Seroka, executive director of the Port of Los Angeles, said importers are facing tough decisions right now, given that any ocean carrier leaving an Asian port today would not be subject to the tariffs that were struck down.

    “That executive is asking: ‘Are my commodities now exempt from this tariff?’ If the answer is yes, ‘Can I buy more of that product and get it shipped while there are no tariffs?’” he said.

    Those decisions would revolve around such factors as the availability of space on the vessel and local warehouses, as well as trucking services, he said.

    Mark Zandi, chief economist at Moody’s Analytics, said the decision should be good news for the larger U.S. economy and businesses on the “front line” of the trade wars, such as transportation, distribution, agriculture and retail.

    “If the president lets the Supreme Court decision stand and doesn’t try to replace the tariffs, that’s a plus for the economy — but that’s not what’s going to happen,” he said.

    [ad_2]

    Laurence Darmiento

    Source link

  • Seaport council provides $16.7M to coastal communities

    [ad_1]

    BOSTON — Cities and towns are slated to get millions of dollars from a grant program that helps the state’s waterfront communities rebuild infrastructure, boost tourism and support the commercial fishing industry.

    On Wednesday, the Healey administration announced that the Seaport Economic Council was awarding more than $16.7 million to 21 projects that “contribute to job and economic growth” while preparing coastal communities for the impact of rising seas levels and climate change.

    This page requires Javascript.

    Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

    kAm%96 7F?5:?8 :?4=F565 Sa]e >:==:@? 7@C v=@F46DE6C’D $E] !6E6C’D {2?5:?8 2?5 |2C:?2 x>AC@G6>6?E !C@;64Ej S`]c >:==:@? 7@C E96 $2=6> w2C3@C !@CE pFE9@C:EJ 7@C 56D:8? @7 2 76CCJ E6C>:?2= 3F:=5:?8 2?5 ?62C=J S`]d >:==:@? 7@C }6H3FCJA@CE’D 3@2C5H2=< C6923:=:E2E:@? AC@;64E]k^Am

    kAm%96 7F?5:?8 2=D@ :?4=F56D 4C:E:42= 5C658:?8 56D:8? 2?5 A6C>:EE:?8 H@C< E@ :>AC@G6 ?2G:82E:@?[ AF3=:4 D276EJ[ 2?5 =@?8E6C> 4@2DE2= C6D:=:6?46[ E96 w62=6J 25>:?:DEC2E:@? D2:5]k^Am

    kAm|62?H9:=6[ v@G] |2FC2 w62=6J D:8?65 2 6I64FE:G6 @C56C (65?6D52J “C64@?DE:EFE:?8” E96 4@F?4:= 2?5 FA52E:?8 :ED >:DD:@? 2?5 >6>36CD9:A “E@ 36EE6C DFAA@CE 64@?@>:4 8C@HE9[ 4@2DE2= C6D:=:6?46 2?5 H@C<:?8 H2E6C7C@?ED” 24C@DD E96 DE2E6’D fg 4@2DE2= 4@>>F?:E:6D]k^Am

    kAmw62=6J D2:5 E96 492?86D[ H9:49 5@?’E C6BF:C6 =68:D=2E:G6 2AAC@G2=[ H:== A@D:E:@? E96 4@F?4:= “E@ >66E E@52J’D 492==6?86D — DFAA@CE:?8 8@@5 ;@3D[ >@56C?:K:?8 4@2DE2= :?7C2DECF4EFC6 2?5 96=A:?8 @FC 4@2DE2= 4@>>F?:E:6D 8C@H H9:=6 A=2??:?8 7@C 4=:>2E6 C6D:=:6?46 2?5 =@?8E6C> DFDE2:?23:=:EJ]”k^Am

    [ad_2]

    By Christian M. Wade | Statehouse Reporter

    Source link

  • Interoceanic Train derails in southern Mexico, killing at least 13

    [ad_1]

    Officials said a train accident in southern Mexico killed at least 13 people and injured dozens, halting traffic along a rail line connecting the Pacific Ocean with the Gulf of Mexico.The Interoceanic Train linking the states of Oaxaca and Veracruz went off the rails Sunday as it passed a curve near the town of Nizanda.“The Mexican Navy has informed me that, tragically, 13 people died in the Interoceanic Train accident,” Mexican President Claudia Sheinbaum posted on X, adding that 98 people are injured, five of them seriously.She said she instructed the secretary of the navy and the undersecretary of human rights of the Ministry of the Interior to travel to the site and personally assist the families.In a message on X Sunday, Oaxaca state Gov. Salomon Jara said several government agencies had reached the site of the accident to assist the injured.Officials said that 241 passengers and nine crew members were on the train when the accident occurred.The Interoceanic Train was inaugurated in 2023 by then President Andres Manuel Lopez Obrador. The rail service is part of a broader push to boost train travel in southern Mexico, and develop infrastructure along the isthmus of Tehuantepec, a narrow stretch of land between the Pacific Ocean and the Gulf of Mexico.The Mexican government plans to turn the isthmus into a strategic corridor for international trade, with ports and rail lines that can connect the Atlantic and Pacific Oceans. The Interoceanic train currently runs from the port of Salina Cruz on the Pacific Ocean to Coatzacoalcos, covering a distance of approximately 180 miles (290 kilometers) .

    , CDMX —

    Officials said a train accident in southern Mexico killed at least 13 people and injured dozens, halting traffic along a rail line connecting the Pacific Ocean with the Gulf of Mexico.

    The Interoceanic Train linking the states of Oaxaca and Veracruz went off the rails Sunday as it passed a curve near the town of Nizanda.

    “The Mexican Navy has informed me that, tragically, 13 people died in the Interoceanic Train accident,” Mexican President Claudia Sheinbaum posted on X, adding that 98 people are injured, five of them seriously.

    She said she instructed the secretary of the navy and the undersecretary of human rights of the Ministry of the Interior to travel to the site and personally assist the families.

    In a message on X Sunday, Oaxaca state Gov. Salomon Jara said several government agencies had reached the site of the accident to assist the injured.

    Officials said that 241 passengers and nine crew members were on the train when the accident occurred.

    The Interoceanic Train was inaugurated in 2023 by then President Andres Manuel Lopez Obrador. The rail service is part of a broader push to boost train travel in southern Mexico, and develop infrastructure along the isthmus of Tehuantepec, a narrow stretch of land between the Pacific Ocean and the Gulf of Mexico.

    The Mexican government plans to turn the isthmus into a strategic corridor for international trade, with ports and rail lines that can connect the Atlantic and Pacific Oceans. The Interoceanic train currently runs from the port of Salina Cruz on the Pacific Ocean to Coatzacoalcos, covering a distance of approximately 180 miles (290 kilometers) .

    [ad_2]

    Source link

  • Crews battle hazardous fire on cargo ship in San Pedro, major emergency declared

    [ad_1]

    A major emergency was declared at the Port of Los Angeles on Friday night as 186 firefighters worked to combat a massive and stubborn blaze involving hazardous materials on a cargo ship, authorities said.

    An electrical fire was reported below deck of the 1,100-foot container ship 1 Henry Hudson at 6:38 p.m., according to the Los Angeles Fire Department. An explosion rattled the boat just before 8 p.m., affecting power to lights and cranes, authorities said.

    Hazardous materials are in several of the cargo containers involved in the blaze and all firefighters are wearing protective suits and oxygen masks, according to LAFD. Specially trained hazardous materials crews are monitoring air quality as efforts continue to suppress the fire in the ship’s sub-levels.

    Marine crews are working to cool the outside of the ship to make conditions on the boat more tenable for firefighting crews. As of 8 p.m., incident command had instructed that no firefighting members go below deck.

    At that time progress on containment remained slow, according to LAFD. The ship did not appear to be sinking despite a large amount of water being used to fight the fire.

    Drones were being used to acquire thermal imaging of the blaze and assist the emergency response, authorities said.

    Earlier in the evening, authorities said six of the boat’s crew members were unaccounted for. At 8:30 p.m., LAFD confirmed that all 23 crew members had been found and safely assisted off the ship. No injuries have been reported.

    The California Highway Patrol announced at 10:30 p.m. that the Vincent Thomas Bridge, a main access point to the port’s terminals, would be closed until further notice due to the fire. Drivers are advised to avoid the area and follow detour routes.

    The U.S. Coast Guard also responded to the incident and established a safety perimeter of one nautical mile around the vessel.

    The cargo ship sails under the flag of Panama and arrived in the Port of L.A. on Wednesday after traveling from Tokyo, according to Vessel Finder.

    In a statement on X, L.A. Mayor Karen Bass said the city is continuing to monitor the incident closely. Gov. Gavin Newsom was briefed on the incident and his office is coordinating with local authorities to support the emergency response, officials said.

    [ad_2]

    Clara Harter

    Source link

  • Presents to arrive in time for the holidays, but may be more expensive

    [ad_1]

    Consumers don’t have to worry about products arriving in time for the holidays, though they may be facing higher prices, say officials at one of America’s largest ports.

    Imports at the Port of Long Beach are flowing smoothly through its facilities despite the government shutdown and tariff uncertainties, port executives said. Still, they acknowledge that the volume and prices of products in the millions of containers coming through the port suggest that imports are becoming more costly and consumers are more cautious.

    Until now, retailers, manufacturers and other intermediaries have absorbed much of the cost of tariffs, but that is changing as it becomes more apparent which tariffs are here to stay, Mario Cordero, chief executive of the Port of Long Beach, said Friday during a virtual news conference.

    “Consumers will likely see price escalation in the coming months as shippers continue to pass along the cost of tariffs on goods, and a higher percentage of these costs will be passed on to the consumer,” he said.

    Cordero, who drinks Starbucks coffee, said he’s seen the price of a cup of coffee increase by 15% and that more consumers are going to discount stores to find deals. However, potential price hikes could be offset if the United States and China strike further trade agreements.

    The Port of Long Beach, a gateway for trade between the United States and Asia-Pacific, released new data that offers a glimpse into how President Trump’s on-again, off-again tariffs are affecting goods imported from key trade partners, such as China.

    This week, the U.S. Supreme Court also started to hear arguments as the justices examine the legality of Trump’s tariffs.

    Over the past year, the port saw a drop in the movement of containers filled with certain goods such as winter apparel, kitchen appliances and toys that people typically buy as gifts, a sign that consumers are likely wary about spending.

    Still, the impact of tariffs on cargo volume hasn’t been as bad as some experts predicted. Cordero said some experts had projected that the port could see as much as a 35% drop in cargo volume.

    “Clearly today, it’s fair to say that the worst scenarios some predicted did not occur,” Cordero said. “The challenges were many, and there’s no doubt that many companies and their workers suffered, but cargo volume is turning out to be just as high this year as it was last year.”

    In fiscal year 2025, which runs from October 2024 to September 2025, the port surpassed 10 million 20-foot equivalent units (TEUs) for the first time, up 11% from the same period last year. TEU is a measurement used to describe cargo capacity for container ships and terminals.

    While the port saw a decline in the amount of TEUs moved in October compared with the same period in 2024, Cordero said he thinks the port will end 2025 in “positive territory.”

    In October, there were 839,671 TEUs moved. That’s because retailers and shippers started shipping goods earlier than normal to avoid fees and to stock up their warehouses because of tariffs.

    The Port of Long Beach is an economic engine for California. Officials say it helps create 691,000 jobs in Southern California. More than 2.7 million U.S jobs are connected to the Port of Long Beach, they say.

    [ad_2]

    Queenie Wong

    Source link

  • Dozens of cargo containers fall off vessel at Port of Long Beach. Investigators search for answers

    [ad_1]

    At least 50 shipping containers slipped off a vessel at the Port of Long Beach on Tuesday morning, leaving officials scrambling to determine what happened.

    Port spokesperson Art Marroquin said the ship, the Mississippi, was berthed at Terminal G just before 9 a.m. when the containers mysteriously fell overboard into the water.

    Marroquin and other port officials did not respond to questions about the ship. They confirmed, however, that no injuries were reported and all operations have been temporarily suspended as responders work to secure the containers.

    Port officials are in the preliminary stages of investigating what caused the incident.

    An online site dedicated to tracking ships says the Mississippi flies under a Portuguese flag and was last docked in China two weeks ago.

    The incident happened only four days after the port was named the Best West Coast seaport in North America for a seventh straight year by the trade publication Asia Cargo News.

    The port handles more than 9 million 20-foot containers per year from 2,000 vessels, moving one-fourth of all containers on the West Coast.

    [ad_2]

    Andrew J. Campa

    Source link

  • Ocean technology hub AltaSea blooms on San Pedro waterfront

    Ocean technology hub AltaSea blooms on San Pedro waterfront

    [ad_1]

    A moon shot to make Southern California an international leader in the “blue economy” is taking shape in San Pedro as a $30-million renovation of three historic waterfront warehouses nears completion.

    AltaSea at the Port of Los Angeles, as the complex is known, is home to sea-centered businesses such as the headquarters of explorer Robert Ballard, who located the wrecks of the Titanic and the German battleship Bismarck. His research vessel the Nautilus docks there, as does Pacific Alliance, a vessel for farming mussels far out at sea.

    On barges docked on AltaSea’s wharf, scientists from USC, UCLA and Caltech are developing methods of reducing ocean carbon dioxide and technology to scrub ships’ exhaust stacks. Other tenants in the former warehouses include startup firms that are building a new generation of remote undersea cameras and 3-D printers to build parts for offshore wind, wave and solar farms.

    Jenny Cornuelle Krusoe, executive vice president and COO of AltaSea at the Port of Los Angeles.

    (Allen J. Schaben / Los Angeles Times)

    An aerial view of the Captura barge, where crews monitor equipment used for pulling carbon dioxide from seawater.

    An aerial view of the Captura, a barge at AltaSea where crews monitor equipment used for pulling carbon dioxide from seawater.

    (Allen J. Schaben / Los Angeles Times)

    “AltaSea is education, research and business all working together,” said Jenny Krusoe, executive vice president and chief operating officer. The size and waterfront location, she added, make AltaSea “a unicorn piece of property that is basically made to be the mother ship for the blue economy.”

    Mayor Karen Bass and others who played a part in AltaSea, including City Councilman Tim McOsker and Port of Los Angeles Executive Director Gene Seroka, are expected to officially open the facilities at a ceremony Wednesday.

    AltaSea is bringing new purpose to a previously moribund wharf that once played a rich part in the evolution of Southern California.

    In the early 20th century, Los Angeles merchants and city leaders set out to capture a share of the increased global shipping trade expected to pass through the Panama Canal, a link between the Atlantic and Pacific oceans that opened in 1914. They created a municipal wharf on the waterfront of what has become the sprawling Port of Los Angeles, with a long stretch of warehouses where ships were loaded and unloaded into trains, carts and trucks by burly longshoremen.

    The growth of containerized shipping after World War II gradually rendered City Dock No. 1 obsolete for moving goods, and the wharf was little used for decades. By 2011, advocates, including port officials, saw it for what it was: a choice 35-acre site for a research center and tech companies focused on sustainable uses of the world’s oceans.

    A key part of the mission of the nonprofit enterprise is to create jobs with pioneering companies. Among them is the nonprofit AltaSeads Conservancy, the largest aquaculture seed bank in the United States. Like their terrestrial counterparts, aquaculture seed banks are meant to preserve genetic diversity in plant life for the future. AltaSeads is also advancing the use of kelp as an easily grown resource.

    “It’s a super versatile crop,” said scientist Emily Aguirre of AltaSeads, that can provide food for humans and livestock while removing carbon from the atmosphere. “It can be also be used to fertilize terrestrial agriculture, and it’s fantastic because if you grow it out in the ocean, you’re not taking up any land.”

    Michael Marty Rivera and Emily Aguirre monitor varieties of kelp in storage tanks at AltaSeads

    Michael Marty Rivera and Emily Aguirre of AltaSeads Conservancy monitor varieties of kelp in storage tanks.

    (Allen J. Schaben / Los Angeles Times)

    Kelp is also a source of algae that cuts methane emissions from cows, Aguirre said, and has many other food applications, including reducing freezer burn in ice cream.

    Eco Wave Power, an Israel-based company, is set to install the first U.S. onshore wave energy pilot station in the coming months on the port’s Main Channel, next to AltaSea. The system of floaters attaches directly to preexisting structures — like breakwaters, wharfs and jetties — and produces energy from the constant motion of the waves. Another AltaSea business, CorPower Ocean, uses buoys and hydraulic pressure for energy production.

    Rustom Jehangir, founder and CEO at Blue Robotics, demonstrates his BlueROV2

    Rustom Jehangir, founder and CEO at Blue Robotics, demonstrates his BlueROV2, a high-performance remotely operated vehicle that can be used for inspections, research and adventuring.

    (Allen J. Schaben / Los Angeles Times)

    The figurative whale for AltaSea so far is Ballard, who set up shop at the aged docks several years ago and has captured public interest as a deep-sea explorer and scientific researcher. It’s his headquarters and home to his research and development.

    AltaSea has an array of solar panels on the roof bigger than three football fields that generates 2.2 megawatts, enough to power 700 homes annually and more energy than the entire campus will need when it reaches full capacity.

    BlueROV2, a high-performance remotely operated vehicle (ROV) that can be used for inspections, research, and adventuring,

    The BlueROV2 vehicle.

    (Allen J. Schaben / Los Angeles Times)

    To fund the wharf’s redevelopment, AltaSea received $29 million from the state, Port of Los Angeles and private donors. The funds paid for construction, installation of the solar panels and the future creation of a park.

    AltaSea is one of multiple projects that are part of a two-decade process to clean up the air and water at the port and turn unused docks, wharves and warehouses into places where more people will want to work or visit, port officials said.

    “Bringing people to our waterfront has been a hallmark of the Port of Los Angeles for decades,” Seroka said in 2020, and recent investments “will really bring us to the next level.”

    Before the pandemic, about 3 million people came to L.A.’s waterfront annually for recreation, a tally port leaders hope to see double in the years ahead. To smooth the path of new development catering to visitors, the Port of Los Angeles is investing about $1 billion in infrastructure improvements over 10 years, Seroka said. Private developers building AltaSea and other projects will invest an estimated $500 million.

    Taylor Marchment shows off 3D concrete printing for offshore renewable energy

    Taylor Marchment, the manufacturing R&D lead at RCAM Technologies, shows off 3-D concrete printing for offshore renewable energy.

    (Allen J. Schaben / Los Angeles Times)

    One of those projects, West Harbor, is a long-planned redevelopment of a 42-acre site that used to be home to Ports O’ Call, a kitschy imitation of a New England fishing village, built in the 1960s, that fell out of favor years ago and was razed in 2018.

    Restaurants anchoring the dining, shopping and entertainment center will include Yamashiro, the second branch of a Japanese-themed Hollywood destination for locals and tourists. Another large restaurant will be Mexican-themed, with an over-water bar. There will also be a food hall and Bark Social, a membership off-leash dog park, bar and cafe. The complex is slated to open next year.

    The waterfront developments represent improvements that San Pedro residents have been waiting decades to see, said Dustin Trani, whose family has been in the local restaurant business for nearly a century. Last year the chef opened Trani’s Dockside Station, a seafood restaurant situated between AltaSea and West Harbor, in part to capitalize on the expected influx of visitors.

    “We’re on the cusp of a very big economic boom in this area that has not yet been seen,” Trani said.

    [ad_2]

    Roger Vincent

    Source link

  • North China Cangzhou Huanghua Port Radiates ‘Prime Driving Force’ of Economic Development

    North China Cangzhou Huanghua Port Radiates ‘Prime Driving Force’ of Economic Development

    [ad_1]

    In recent years, Huanghua Port has vigorously expanded domestic and international trade routes and continued to smooth the domestic transportation channels of “North Coal Transportation to the South” and “Northern Material Transportation to the South”.


    CANGZHOU, China, May 17, 2024 (Newswire.com)
    –
    North China’s Hebei Province has achieved 5.5 percent GDP growth in 2023 and 5.6 percent in the first quarter of this year, said governor Wang Zhengpu at a press conference recently held by the State Council Information Office.

    Wang introduced the economic developments achieved by Hebei in recent years, adding that the main indicators have increased steadily and maintained a good trend. 

    Among them, Cangzhou seized the opportunity and took advantage of the situation, the dry-alkali tolerant wheat, ancient canal, intangible cultural heritage martial arts, Huanghua Port, have all contributed to the economic development of the province.

    On April 20, a ship carrying more than 10,000 tons of palm kernel meal berthed at the Jihai Port Terminal of Huanghua Port. This was the first warehousing operation completed by the bonded warehouse, marking the formal operation of the Huanghua Port Bonded Warehouse.

    The public bonded warehouse in Cangzhou Huanghua Port has a storage area of 5,684 square meters and officially passed the acceptance inspection in March 2024. 

    This bonded warehouse is a warehouse specially used to store bonded goods and other goods that have not completed customs procedures, and to provide bonded warehousing services to the society. It has the functions of easing the financial pressure of enterprises, improving customs clearance efficiency, reducing customs clearance costs, promoting regional open economic development.

    In recent years, Huanghua Port has vigorously expanded domestic and international trade routes and continued to smooth the domestic transportation channels of “North Coal Transportation to the South” and “Northern Material Transportation to the South”.

    Cangzhou Huanghua Port is located at the Bohai Bay with an advantageous geographical location. It can radiate to the Xiongan New Area, central and southern Hebei, and the vast central and western regions such as Shandong, Henan, Shanxi, Shaanxi, and Inner Mongolia.

    On April 8, Cangzhou Port Group signed a strategic cooperation agreement with Xiongan Comprehensive Bonded Zone Construction and Development Co., Ltd. to complete the listing of the Cangzhou Huanghua Port-Xiongan New Area Inland Port. Up to now, Huanghua Port has listed a total of 12 inland ports in the inland hinterland.

    Huanghua Port has become the the world’s first bulk cargo port with full-process intelligence and its labor productivity and per capita efficiency continue to rank first of the country.

    Cangzhou Huanghua Port’s bulk cargo can reach major ports around the world, and has trade relations with more than 200 ports in more than 50 countries and regions in the world. The foreign countries mainly involve ports in Australia, India, Guinea, Indonesia, Malaysia, Brazil and other countries. 

    In 2023, Huanghua Port completed a full-year throughput of 330 million tons, a year-on-year increase of 4.99 percent, a record high, exceeding 300 million tons for four consecutive years, ranking second in the province, with the container throughput completed 623,600 TEUs. In the first quarter of 2024, Huanghua Port completed cargo throughput of 88 million tons, a year-on-year increase of 11.53 percent, 5.71 percentage points higher than the same period last year, and the growth rate ranked first in the province.

    Source: Cangzhou Municipal Government

    [ad_2]

    Source link

  • Cartier Introduces New Diamond-Encrusted Gastric Lap-Band

    Cartier Introduces New Diamond-Encrusted Gastric Lap-Band

    [ad_1]

    PARIS—Calling its latest piece a “must-have for anyone with a discerning eye” who is preparing to undergo bariatric surgery, the prestigious jewelry firm Cartier introduced a new diamond-encrusted gastric lap-band Friday retailing for $97,000. “The Maison Cartier is pleased to introduce a high-end implanted medical device for elegant consumers of taste and means who wish to add a bit of luxury to an upcoming weight-loss operation,” Cartier representative Angelique Moquin said as she pulled up an image from a helical CT scanner to show an adjustable white-gold gastric band paved with 3-carat brilliant-cut diamonds and tightened around the top portion of a jewelry model’s stomach. “No longer does reducing the capacity of your digestive system also mean cutting back on style. Why settle for a plain old silicone bariatric device now that you can treat yourself to a stunning and sophisticated belly piece by Cartier? Add some timeless refinement to your abdomen or show an obese loved one how much you care.” Cartier went on to announce it was including a pair of free rose-gold stomach staples with every purchase.

    Florida Students Given Lifelike Dolls To Simulate Responsibility Of Owning Slave

    [ad_2]

    Source link

  • UiPath’s stock soars after profit, revenue and ARR rise above forecasts

    UiPath’s stock soars after profit, revenue and ARR rise above forecasts

    [ad_1]

    Shares of UiPath Inc. soared late Thursday after the automation-software company reported fiscal-third-quarter earnings and revenue that rose above expectations, amid strength in the licenses and subscription-services businesses.

    The stock
    PATH,
    -0.55%
    shot up 11% in after-hours trading, putting it on a path to trade at the highest closing levels seen since April 2022.

    Net losses for the quarter to Oct. 31 narrowed to $31.5 million, or 6 cents a share, from $57.7 million, or 10 cents a share, in the same period a year ago. Excluding nonrecurring items, such as stock-based compensation expenses, adjusted earnings per share rose to 12 cents from 5 cents to beat the FactSet consensus of 7 cents.

    Total revenue grew 24% to $325.9 million, above the FactSet consensus of $315.6 million.

    Licenses revenue jumped 25.3% to $148.1 million, well above the FactSet consensus of $137.5 million, and subscription-services revenue climbed 28.7% to $167.5 million to top expectations of $166.9 million. Meanwhile, professional services and other revenue dropped 28.4% to $10.3 million, to miss forecasts of $11.2 million.

    Annual recurring revenue increased 24% to $1.38 billion, above the FactSet consensus of $1.36 billion.

    For the fourth quarter, the company expects revenue of $381 million to $386 million, which surrounds the FactSet consensus of $383 million.

    The stock, which fell 0.6% during Thursday’s regular session after closing the previous session at a 15-month high, has run up 26.6% over the past three months, while the SPDR S&P Software & Services ETF
    XSW,
    -0.60%
    has tacked on 1.3% and the S&P 500
    SPX,
    +0.38%
    has edged up 1.2%.

    [ad_2]

    Source link

  • Off-duty pilot booked on 83 counts of attempted murder after allegedly trying to shut down plane’s engines

    Off-duty pilot booked on 83 counts of attempted murder after allegedly trying to shut down plane’s engines

    [ad_1]

    An off-duty Alaska Airlines pilot was booked Monday on 83 counts of attempted murder after he tried to “disrupt the operation” of the engines of a plane he was aboard, according to the airline.

    Joseph Emerson, 44, a pilot for Alaska Airlines, was on a Sunday flight operated by Horizon Airlines from Seattle to San Francisco when he tried to take over the aircraft, the airline said. Emerson was riding in the “jump seat,” which is an additional seat that is often used for flight attendants to sit in during takeoff and landing.

    Horizon Airlines is a regional carrier owned by the parent company that owns Alaska Airlines.

    He made it into the cockpit before he was subdued, according to the Port of Portland Police.

    The flight was diverted to Portland International Airport. It landed around 6:30 p.m., and Emerson was arrested by the Port of Portland Police.

    “The jump seat occupant unsuccessfully attempted to disrupt the operation of the engines. The Horizon Captain and First Officer quickly responded, engine power was not lost and the crew secured the aircraft without incident,” a spokesperson for Alaska Airlines said in a statement. “All passengers on board were able to travel on a later flight. We are grateful for the professional handling of the situation by the Horizon flight crew and appreciate our guests’ calm and patience throughout this event.”

    Along with the attempted murder counts — one for each occupant of the plane — Emerson was booked on 83 counts of reckless endangerment and one count of endangering an aircraft, according to online court records.

    “We’ve got the guy that tried to shut the engines down out of the cockpit, and he doesn’t sound like he’s causing any issues in the back right now,” the pilot told Seattle-area air traffic controllers, the Mercury News reported. “I think he’s subdued. Other than that, we want law enforcement as soon as we get on the ground and are parked.”

    The Port of Portland Police did not immediately respond to a request for comment.

    [ad_2]

    Noah Goldberg

    Source link

  • ChargePoint Stock Plunges on Capital Raise

    ChargePoint Stock Plunges on Capital Raise

    [ad_1]

    If anyone wanted evidence that the market feels skittish just look at stocks related to electric vehicles. They are getting hammered on capital raising activity that, frankly, should surprise no one.

    [ad_2]
    Source link

  • These 20 stocks in the S&P 500 are expected to soar after rising interest rates have pushed down valuations

    These 20 stocks in the S&P 500 are expected to soar after rising interest rates have pushed down valuations

    [ad_1]

    Two things investors can be sure about: Nothing lasts forever and the stock market always overreacts. The spiking of yields on long-term U.S. Treasury securities has been breathtaking, and it has led to remarkable declines for some sectors and possible bargains for contrarian investors who can commit for the long term.

    First we will show how the sectors of the S&P 500

    have performed. Then we will look at price-to-earnings valuations for the sectors and compare them to long-term averages. Then we will screen the entire index for companies trading below their long-term forward P/E valuation averages and narrow the list to companies most favored by analysts.

    Here are total returns, with dividends reinvested, for the 11 sectors of the S&P 500, with broad indexes below. The sectors are sorted by ascending total returns this year through Monday.

    Sector or index

    		 2023 return

    		 2022 return

    		 Return since end of 2021

    		 1 week return

    		 1 month return
    Utilities

    		 -18.4%

    		 1.6%

    		 -17.2%

    		 -11.1%

    		 -9.6%
    Real Estate

    		 -7.1%

    		 -26.1%

    		 -31.4%

    		 -3.0%

    		 -8.8%
    Consumer Staples

    		 -5.4%

    		 -0.6%

    		 -6.0%

    		 -2.2%

    		 -4.4%
    Healthcare

    		 -4.2%

    		 -2.0%

    		 -6.1%

    		 -1.7%

    		 -3.3%
    Financials

    		 -2.5%

    		 -10.5%

    		 -12.7%

    		 -2.5%

    		 -4.7%
    Materials

    		 1.3%

    		 -12.3%

    		 -11.2%

    		 -1.9%

    		 -7.0%
    Industrials

    		 3.5%

    		 -5.5%

    		 -2.1%

    		 -1.8%

    		 -7.3%
    Energy

    		 4.0%

    		 65.7%

    		 72.4%

    		 -1.9%

    		 -1.4%
    Consumer Discretionary

    		 27.0%

    		 -37.0%

    		 -20.0%

    		 -0.6%

    		 -5.2%
    Information Technology

    		 36.5%

    		 -28.2%

    		 -2.0%

    		 0.8%

    		 -5.9%
    Communication Services

    		 42.5%

    		 -39.9%

    		 -14.3%

    		 1.1%

    		 -1.3%
    S&P 500
    		 13.1%

    		 -18.1%

    		 -7.4%

    		 -1.1%

    		 -4.9%
    DJ Industrial Average
    		 2.5%

    		 -6.9%

    		 -4.5%

    		 -1.7%

    		 -4.0%
    Nasdaq Composite Index
    COMP     		28.0%

    		 -32.5%

    		 -13.7%

    		 0.3%

    		 -5.1%
    Nasdaq-100 Index
    		 36.5%

    		 -32.4%

    		 -7.7%

    		 0.5%

    		 -4.2%
    Source: FactSet

    Returns for 2022 are also included, along with those since the end of 2021. Last year’s weakest sector, communications services, has been this year’s strongest performer. This sector includes Alphabet Inc.
    GOOGL
    and Meta Platforms Inc.
    META,
    which have returned 52% and 155% this year, respectively, but are still down since the end of 2021. To the right are returns for the past week and month through Monday.

    On Monday, the S&P 500 Utilities sector had its worst one-day performance since 2020, with a 4.7% decline. Investors were reacting to the jump in long-term interest rates.

    Here is a link to the U.S. Treasury Department’s summary of the daily yield curve across maturities for Treasury securities.

    The yield on 10-year U.S. Treasury notes

    jumped 10 basis points in only one day to 4.69% on Monday. A month earlier the 10-year yield was only 4.27%. Also on Monday, the yield on 20-year Treasury bonds

    rose to 5.00% from 4.92% on Friday. It was up from 4.56% a month earlier.

    Market Extra: Bond investors feel the heat as popular fixed-income ETF suffers lowest close since 2007

    The Treasury yield curve is still inverted, with 3-month T-bills

    yielding 5.62% on Monday, but that was up only slightly from a month earlier. An inverted yield curve has traditionally signaled that bond investors expect a recession within a year and a lowering of interest rates by the Federal Reserve. Demand for bonds pushes their prices down. But the reverse has happened over recent days, with the selling of longer-term Treasury securities pushing yields up rapidly.

    Another way to illustrate the phenomenon is to look at how the Federal Reserve has shifted the U.S. money supply. Odeon Capital analyst Dick Bove wrote in a note to clients on Friday that “the Federal Reserve has not deviated from its policy to defeat inflation by tightening monetary policy,” as it has shrunk its balance sheet (mostly Treasury securities) to $8.1 trillion from $9 trillion in March 2022. He added: “The M2 money supply was $21.8 trillion in March 2022; today it is $20.8 trillion. You cannot get tighter than these numbers indicate.”

    Then on Tuesday, Bove illustrated the Fed’s tightening and the movement of the 10-year yield with two charts:


    Odeon Capital Group, Bloomberg

    Bove said he believes the bond market has gotten it wrong, with the inverted yield curve reflecting expectations of rate cuts next year. If he is correct, investors can expect longer-term yields to keep shooting up and a normalization of the yield curve.

    This has set up a brutal environment for utility stocks, which are typically desired by investors who are seeking dividend income. In a market in which you can receive a yield of 5.5% with little risk over the short term, and in which you can lock in a long-term yield of about 5%, why take a risk in the stock market? And if you believe that the core inflation rate of 3.7% makes a 5% yield seem paltry, keep in mind that not all investors think the same way. Many worry less about the inflation rate because large components of official inflation calculations, such as home prices and car prices, don’t affect everyone every year.

    We cannot know when this current selloff of longer-term bonds will end, or how much of an effect it will have on the stock market. But sharp declines in the stock market can set up attractive price points for investors looking to go in for the long haul.

    Screening for lower valuations and high ratings

    A combination of rising earnings estimates and price declines could shed light on potential buying opportunities, based on forward price-to-earnings ratios.

    Let’s look at the sectors again, in the same order, this time to show their forward P/E ratios, based on weighted rolling 12-month consensus estimates for earnings per share among analysts polled by FactSet:

    Sector or index

    		 Current P/E to 5-year average

    		 Current P/E to 10-year average

    		 Current P/E to 15-year average

    		 Forward P/E

    		 5-year average P/E

    		 10-year average P/E

    		 15-year average P/E
    Utilities

    		 82%

    		 86%

    		 95%

    		 14.99

    		 18.30

    		 17.40

    		 15.82
    Real Estate

    		 76%

    		 80%

    		 81%

    		 15.19

    		 19.86

    		 18.89

    		 18.72
    Consumer Staples

    		 93%

    		 96%

    		 105%

    		 18.61

    		 19.92

    		 19.30

    		 17.64
    Healthcare

    		 103%

    		 104%

    		 115%

    		 16.99

    		 16.46

    		 16.34

    		 14.72
    Financials

    		 88%

    		 92%

    		 97%

    		 12.90

    		 14.65

    		 14.08

    		 13.26
    Materials

    		 100%

    		 103%

    		 111%

    		 16.91

    		 16.98

    		 16.42

    		 15.27
    Industrials

    		 88%

    		 96%

    		 105%

    		 17.38

    		 19.84

    		 18.16

    		 16.56
    Energy

    		 106%

    		 63%

    		 73%

    		 11.78

    		 11.17

    		 18.80

    		 16.23
    Consumer Discretionary

    		 79%

    		 95%

    		 109%

    		 24.09

    		 30.41

    		 25.39

    		 22.10
    Information Technology

    		 109%

    		 130%

    		 146%

    		 24.20

    		 22.17

    		 18.55

    		 16.54
    Communication Services

    		 86%

    		 86%

    		 94%

    		 16.41

    		 19.09

    		 19.00

    		 17.43
    S&P 500
    		 94%

    		 101%

    		 112%

    		 17.94

    		 19.01

    		 17.76

    		 16.04
    DJ Industrial Average
    		 93%

    		 98%

    		 107%

    		 16.25

    		 17.49

    		 16.54

    		 15.17
    Nasdaq Composite Index
    		 92%

    		 102%

    		 102%

    		 24.62

    		 26.71

    		 24.18

    		 24.18
    Nasdaq-100 Index
    		 97%

    		 110%

    		 126%

    		 24.40

    		 25.23

    		 22.14

    		 19.43

    There is a limit to how many columns we can show in the table. The S&P 500’s forward P/E ratio is now 17.94, compared with 16.79 at the end of 2022 and 21.53 at the end of 2021. The benchmark index’s P/E is above its 10- and 15-year average levels but below the five-year average.

    If we compare the current sector P/E numbers to 5-, 10- and 15-year averages, we can see that the current levels are below all three averages for four sectors: utilities, real estate, financials and communications services. The first three face obvious difficulties as they adjust to the rising-rate environment, while the real-estate sector reels from continuing low usage rates for office buildings, from the change in behavior brought about by the COVID-19 pandemic.

    Your own opinions, along with the pricing for some sectors, might drive some investment choices.

    A broader screen of the S&P 500 might point to companies for you to research further.

    We narrowed the S&P 500 as follows:

    • Current forward P/E below 5-, 10- and 15-year average valuations. For stocks with negative earnings-per-share estimates for the next 12 months, there is no forward P/E ratio so they were excluded. For stocks listed for less than 15 years, we required at least a 5-year average P/E for comparison. This brought the list down to 138 companies.

    • “Buy” or equivalent ratings from at least two-thirds of analysts: 41 companies.

    Here are the 20 companies that passed the screen, for which analysts’ price targets imply the highest upside potential over the next 12 months.

    There is too much data for one table, so first we will show the P/E information:

    Company

    		 Ticker

    		 Current P/E to 5-year average

    		 Current P/E to 10-year average

    		 Current P/E to 15-year average
    SolarEdge Technologies Inc.

    		 SEDG 89%

    		 N/A

    		 N/A
    AES Corp.

    		 AES 66%

    		 75%

    		 90%
    Insulet Corp.

    		 PODD 18%

    		 N/A

    		 N/A
    United Airlines Holdings Inc.

    		 UAL 42%

    		 50%

    		 N/A
    Alaska Air Group Inc.

    		 ALK 51%

    		 57%

    		 N/A
    Tapestry Inc.

    		 TPR 39%

    		 49%

    		 70%
    Albemarle Corp.

    		 ALB 39%

    		 50%

    		 73%
    Delta Air Lines Inc.

    		 DAL 60%

    		 63%

    		 21%
    Alexandria Real Estate Equities Inc.

    		 ARE 59%

    		 68%

    		 N/A
    Las Vegas Sands Corp.

    		 LVS 96%

    		 78%

    		 53%
    Paycom Software Inc.

    		 PAYC 61%

    		 N/A

    		 N/A
    PayPal Holdings Inc.

    		 PYPL 33%

    		 N/A

    		 N/A
    SBA Communications Corp. Class A

    		 SBAC 27%

    		 N/A

    		 N/A
    Advanced Micro Devices Inc.

    		 AMD 58%

    		 39%

    		 N/A
    LKQ Corp.

    		 LKQ 92%

    		 44%

    		 78%
    Charles Schwab Corp.

    		 SCHW 75%

    		 54%

    		 73%
    PulteGroup Inc.

    		 PHM 94%

    		 47%

    		 N/A
    Lamb Weston Holdings Inc.

    		 LW 71%

    		 N/A

    		 N/A
    News Corp Class A

    		 NWSA 93%

    		 73%

    		 N/A
    CVS Health Corp.

    		 CVS 75%

    		 61%

    		 67%
    Source: FactSet

    Click on the tickers for more about each company or index.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    News Corp
    NWSA
    is on the list. The company owns Dow Jones, which in turn owns MarketWatch.

    Here’s the list again, with ratings and consensus price-target information:

    Company

    		 Ticker

    		 Share “buy” ratings

    		 Oct. 2 price

    		 Consensus price target

    		 Implied 12-month upside potential
    SolarEdge Technologies Inc.

    		 SEDG 74%

    		 $122.56

    		 $268.77

    		 119%
    AES Corp.

    		 AES 79%

    		 $14.16

    		 $25.60

    		 81%
    Insulet Corp.

    		 PODD 68%

    		 $165.04

    		 $279.00

    		 69%
    United Airlines Holdings Inc.

    		 UAL 71%

    		 $41.62

    		 $69.52

    		 67%
    Alaska Air Group Inc.

    		 ALK 87%

    		 $36.83

    		 $61.31

    		 66%
    Tapestry Inc.

    		 TPR 75%

    		 $28.58

    		 $46.21

    		 62%
    Albemarle Corp.

    		 ALB 81%

    		 $162.41

    		 $259.95

    		 60%
    Delta Air Lines Inc.

    		 DAL 95%

    		 $36.45

    		 $58.11

    		 59%
    Alexandria Real Estate Equities Inc.

    		 ARE 100%

    		 $98.18

    		 $149.45

    		 52%
    Las Vegas Sands Corp.

    		 LVS 72%

    		 $45.70

    		 $68.15

    		 49%
    Paycom Software Inc.

    		 PAYC 77%

    		 $260.04

    		 $384.89

    		 48%
    PayPal Holdings Inc.

    		 PYPL 69%

    		 $58.56

    		 $86.38

    		 48%
    SBA Communications Corp. Class A

    		 SBAC 68%

    		 $198.24

    		 $276.69

    		 40%
    Advanced Micro Devices Inc.

    		 AMD 74%

    		 $103.27

    		 $143.07

    		 39%
    LKQ Corp.

    		 LKQ 82%

    		 $49.13

    		 $67.13

    		 37%
    Charles Schwab Corp.

    		 SCHW 77%

    		 $53.55

    		 $72.67

    		 36%
    PulteGroup Inc.

    		 PHM 81%

    		 $73.22

    		 $98.60

    		 35%
    Lamb Weston Holdings Inc.

    		 LW 100%

    		 $92.23

    		 $123.50

    		 34%
    News Corp Class A

    		 NWSA 78%

    		 $20.00

    		 $26.42

    		 32%
    CVS Health Corp.

    		 CVS 77%

    		 $69.69

    		 $90.88

    		 30%
    Source: FactSet

    A year may actually be a short period for a long-term investor, but 12-month price targets are the norm for analysts working for brokerage companies.

    Don’t miss: This fund shows that industry expertise can help you make a lot of money in the stock market

    [ad_2]

    Source link

  • Tesla, Rivian, Discover, Sphere Entertainment, Nvidia, and More Stock Market Movers

    Tesla, Rivian, Discover, Sphere Entertainment, Nvidia, and More Stock Market Movers

    [ad_1]

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-e5dab615

    • Order Reprints
    • Print Article
    [ad_2]
    Source link

  • These 20 growth stocks are worth considering on a pullback, says Citi

    These 20 growth stocks are worth considering on a pullback, says Citi

    [ad_1]

    Citi has released a list of 20 large-cap growth stocks that it says present opportunities in the event of a pullback.

    “Our call since early summer has been to hold Growth and look to buy on pullbacks,” Citi analyst Scott Chronert said in a note released Monday, adding that Citi has had a tactical preference for cyclicals. “However, on the heels of the strong Cyclicals surge during June and July, and our upwardly revised S&P 500 target of 4600, the messaging has been to buy on pullbacks more broadly,” he wrote.

    Citi also notes that the Russell 1000 Growth Index
    RLG
    has sold off more than 6% from its mid-July high, although two-thirds of the stocks in the index are down 10% or more, with one-third down more than 20%. “This sets up for interesting intermediate to long-term stock selection opportunities,” Chronert said.

    Related: Preorders for the iPhone 15 have begun, and here’s a sign they’ve been ‘solid’

    The analyst acknowledged that there is still a risk of economic softening ahead, if not a recession. “Yet, the argument that Growth stocks can show fundamental resilience during periods of broader economic weakening is a theme that we have considered for several years now,” he said.

    Set against this backdrop, the analyst firm has compiled a tech-heavy list of 20 stocks that have a buy rating from Citi, have at least 75% of market cap assigned to growth, according to Russell, and have experienced a decline of 10% or more from year-to-date highs since March 31. Other common characteristics of the stocks include consensus estimates of free cash flow per share above March 31 levels and free cash flow per share within or above market-implied five-year-forward estimates.

    Tech heavyweights Apple Inc.
    AAPL,
    +0.74%
    and NVIDIA Corp.
    NVDA,
    +1.47%
    are on the list, along with Pinterest Inc.
    PINS,
    -2.47%    ,
    Lam Research Corp.
    LRCX,
    +0.24%    ,
    Teradata Corp.
    TDC,
    +0.36%    ,
    Datadog Inc.
    DDOG,
    +0.09%    ,
    MongoDB Inc.
    MDB,
    -0.73%    ,
    HubSpot Inc.
    HUBS,
    +0.18%
    and KLA Corp.
    KLAC,
    +0.79%    .
    The other stocks cited by Citi are Lockheed Martin Corp.
    LMT,
    -0.18%    ,
    DraftKings Inc.
    DKNG,
    -1.44%    ,
    Las Vegas Sands Corp.
    LVS,
    -0.98%    ,
    Chipotle Mexican Grill Inc.
    CMG,
    -0.85%    ,
    Netflix Inc.
    NFLX,
    +1.31%    ,
    TKO Group Holdings Inc.
    TKO,
    -1.93%    ,
    Rockwell Automation Inc.
    ROK,
    +1.09%
    and Paycom Software Inc.
    PAYC,
    +0.45%    ,
    and healthcare stocks Bruker Corp.
    BRKR,
    +1.04%    ,
    Insulet Corp.
    PODD,
    -0.66%
    and Intuitive Surgical Inc.
    ISRG,
    +1.75%    .

    Related: Will Nvidia stock be like Apple or Cisco in the AI era?

    Shares of Apple, which recently launched its iPhone 15, are down 5.5% in the last three months. Shares of chip maker NVIDIA are up 2.8% over the same period, while Lockheed Martin is down 8.9% and DraftKings is up 8.6%. Las Vegas Sands is down 21.8% and Chipotle is down 8.8%, while Netflix is down 7.8%.

    [ad_2]

    Source link

  • C3.ai, GameStop, UiPath, ChargePoint, Yext, BlackBerry, and More Stock Market Movers

    C3.ai, GameStop, UiPath, ChargePoint, Yext, BlackBerry, and More Stock Market Movers

    [ad_1]

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-3fac9192

    • Order Reprints
    • Print Article

    [ad_2]

    Source link

  • UiPath Stock Is Flying This Year. Analyst Thinks the Party Is Over.

    UiPath Stock Is Flying This Year. Analyst Thinks the Party Is Over.

    [ad_1]

    UiPath Stock Is Flying This Year. Analyst Thinks the Party Is Over.

    [ad_2]

    Source link

  • ChargePoint Results Fall Short. Guidance Is Saving the Stock.

    ChargePoint Results Fall Short. Guidance Is Saving the Stock.

    [ad_1]

    Shares of EV charging company


    ChargePoint


    have been caught in the sell off that’s hammered small-capitalization stocks that don’t produce earnings or generate free cash flow, yet. Investors hoped that third-quarter earnings could turn sentiment around, but some concerns linger.



    ChargePoint


    (ticker: CHPT), on Thursday afternoon, reported a per-share loss of 25 cents from $125 million in sales. Wall Street was looking for a loss of 20 cents per share on sales of $132.3 million.

    [ad_2]

    Source link