BofA Securities analyst Ross Fowler has reinstated coverage on four US utilities in the Great Plains, issuing Buy ratings for Evergy, Inc. (EVRG) and MDU Resources Group, Inc. (MDU), a Neutral rating for OGE Energy Corp (OGE), and an Underperform rating for Black Hills Corporation (BKH). Fowler’s analysis delves into the individual factors driving his ratings, including regulatory environments, growth prospects, and financial considerations.
While Bitcoin and Ethereum have traded sideways for months, analysts offer different perspectives on their potential price movement. CryptoCon predicts a surge for Bitcoin, reaching $107,558 by early 2025, while Cold Blooded Shiller sees Ethereum struggling to break through resistance. Despite the uncertainty, some key metrics point to conflicting trends between the two cryptocurrencies.
Verizon Communications Inc. (VZ) expects to record a significant severance charge in the third quarter due to its ongoing workforce reduction and strategic business realignment. The company also anticipates asset rationalization charges related to its plans to exit non-strategic business segments. Despite these challenges, Verizon’s recent financial results highlight continued growth in broadband and wireless subscribers.
Warner Bros. Discovery and Charter Communications have announced a multi-year distribution partnership that integrates linear video and streaming services. The deal includes the inclusion of Max (Ad Lite), Discovery+, and other Warner Bros. Discovery channels within Charter’s Spectrum TV Select packages. This partnership is expected to benefit both companies financially and strategically.
Grab Holdings, the leading ride-hailing app in the Philippines, is facing potential suspension after a Vietnamese woman reported being robbed and sexually assaulted by a driver. The incident has sparked concerns about passenger safety and raised questions about Grab’s security measures.
Alibaba, known for its e-commerce dominance, is making a strategic move into the AI revolution. With AI-powered customer service, marketing tools, and a turbocharged Ali Cloud, Alibaba is aiming to become a major player in the AI landscape. The company is leveraging generative AI to enhance its existing platforms and expand into new industries, particularly in China’s booming automotive sector.
U.S. stock markets ended the day on a positive note, with the Dow Jones Industrial Average gaining over 200 points. The NASDAQ and S&P 500 also saw significant gains, driven by positive earnings reports and economic data. Key sectors and companies that influenced the market movement are highlighted, along with updates on global markets and commodities.
BAE Systems has been awarded a contract modification worth over $440 million by the U.S. Army to produce additional Bradley Fighting Vehicles. The contract includes the production of over 200 A4 variants, which will be delivered to the Army as modernized replacements for some of the Bradleys provided to Ukraine.
U.S. stock markets saw a mixed performance on Thursday, with the Nasdaq Composite gaining ground while the Dow traded slightly lower. Key developments included strong results from Kroger, surging stocks fueled by strategic partnerships and acquisitions, and a mixed bag of economic data.
Gevo, Inc. (GEVO) announced the acquisition of Red Trail Energy’s ethanol production plant and carbon capture and sequestration (CCS) assets for $210 million, boosting its sustainable aviation fuel (SAF) production capabilities and accelerating its net-zero goals. The acquisition brings immediate financial benefits and positions Gevo for future growth in the renewable energy sector.
