Modine Manufacturing has an opportunity to capitalize on the enormous data center buildout, according to KeyBanc Capital Markets. The investment bank initiated coverage of the thermal management stock with an overweight rating and a $125 per share price target, implying about 29% upside from Thursday’s $97.07 close. Modine has lowered its exposure to the legacy automotive segment and is instead focusing on “high growth climate opportunities,” namely data centers, according to analysts led by David Tarantino. KeyBanc said the Racine, Wisconsin-based manufacturer has an “attractive” position within the data center market, specifically in cooling power-hungry building housing racks of computers.…
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Writer E. Jean Carroll arrives at the 2nd U.S. Circuit Court of Appeals, where former U.S. President Donald Trump will arrive to ask a federal appeals court to overturn a $5 million jury verdict finding him liable for sexually assaulting and defaming her, who accused Trump of raping her nearly three decades ago, in Manhattan, New York, U.S., September 6, 2024. Adam Gray | ReutersRead more CNBC politics coverageTwo 2nd Circuit judges dissented from Friday’s decision not to grant a so-called en banc rehearing of the case.Their written dissent said the panel “sanctioned striking departures” from legal precedent “to justify the…
Archer Aviation co-founders Brett Adcock (L) and Adam Goldstein (R) unveil the Archer Maker on June 10, 2021 in Hawthorne, California.Patrick T. Fallon | AFP | Getty ImagesArcher Aviation’s stock dropped as much as 15% on Friday after the air taxi maker said it sold $850 million worth of shares.The electric vertical takeoff and landing vehicle, or eVTOL, company said Thursday it plans to use the financing to support new infrastructure and the rollout of an artificial intelligence-based aviation software platform. The money will also support its Launch Edition program, including an official partnership to provide air taxi services during…
A woman shops at a supermarket on April 30, 2025 in Arlington, Virginia.Sha Hanting | China News Service | Getty ImagesConsumers in the early part of June took a considerably less pessimistic about the economy and potential surges in inflation as progress appeared possible in the global trade war, according to a University of Michigan survey Friday.The university’s closely watched Surveys of Consumers showed across-the-board rebounds from previously dour readings, while respondents also sharply cut back their outlook for near-term inflation.For the headline index of consumer sentiment, the gauge was at 60.5, well ahead of the Dow Jones estimate for…
With the recent market gains, now may be the time for investors to consider buying call options as a substitute for stocks, according to Goldman Sachs. After turning positive for the year last month on the heels of the U.S. and China agreeing to temporarily cut tariffs for 90 days, the S & P 500 is now within striking distance of scoring a new high. As of Thursday’s close, the broad market index was 1.7% away from its February record. Prior to Israel’s strike on Iran, the index was on pace for its third positive week in a row, and…
Oil futures are surging after Israel strategically launched waves of airstrikes against Iran. I want to use options on the Energy Select Sector SPDR Fund (XLE) to produce income as well as properly capture this pop in both crude and brent which I believe will be a short-lived move. Some of Iran’s top military leaders were eliminated, and one of the country’s main underground uranium enrichment sites has been reportedly destroyed. Israeli jets entered via Syria after disabling Iranian and Iraqi air defenses, striking enrichment specific sites and missile bases. The reason I believe this move in oil will fade…
Writer E. Jean Carroll arrives at the 2nd U.S. Circuit Court of Appeals, where former U.S. President Donald Trump will arrive to ask a federal appeals court to overturn a $5 million jury verdict finding him liable for sexually assaulting and defaming her, who accused Trump of raping her nearly three decades ago, in Manhattan, New York, U.S., September 6, 2024. Adam Gray | ReutersRead more CNBC politics coverageTwo 2nd Circuit judges dissented from Friday’s decision not to grant a so-called en banc rehearing of the case. Their written dissent said the panel “sanctioned striking departures” from legal precedent “to justify…
CNBC’s Madeeha Mujawar reports on one of India’s worst aviation tragedies in its history. Source link
As equity markets broadly declined after Israel and Iran took aim at each other – some sectors and stocks are bucking the trend. The attack, which reportedly killed senior Iranian military and scientific figures, prompted an immediate flight to safety in financial markets. Brent crude , the international oil benchmark, jumped 7% to $78.50 a barrel, its highest level since April. The move rippled across sectors, punishing airlines while rewarding oil tanker owners on bets of imminent supply disruptions. The market turmoil reflects uncertainty over whether Iran will retaliate in a way that further escalates the conflict. Oil and shipping…
Wells Fargo is moving off the sideline when it comes to Zscaler . The bank upgraded shares of the cloud security stock to an overweight rating from equal weight. Analyst Andrew Nowinski simultaneously hiked his price target to $385 from $260. Shares of Zscaler have surged 67% in 2025. Nowinski’s new forecast is approximately 28% above where the stock closed on Thursday afternoon. ZS YTD mountain ZS YTD chart As a key catalyst, the analyst pointed to strong current momentum in Zscaler’s new and upsell business this fiscal year. Scheduled billings should become less of a headwind next year, while…
