On Thursday, Cantor Fitzgerald initiated coverage on shares of Nlight (NASDAQ:LASR), a prominent supplier of high-performance semiconductor and fiber lasers, with an Overweight rating. The firm has set a 12-month price target for the stock at $15.50. The new rating indicates the firm’s confidence in the company’s prospects. Nlight is expected to experience a return to revenue growth in 2025, driven by a significant backlog, strong performance in the aerospace and defense sectors, and a rebound in demand within its commercial markets. The optimism surrounding the company’s future is further bolstered by its well-managed operations and strategic initiatives. The company’s…
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Formula One, owned by Liberty Media, and luxury conglomerate LVMH have announced a 10-year partnership, according to a joint press release from both companies on Wednesday. This collaboration will officially begin with the next F1 season and will feature “hospitality, bespoke activations, limited editions, and outstanding content.” Although this is the first formal long-term agreement between the two entities, it is not their first collaboration. F1 previously partnered with one of LVMH’s brands during last year’s Las Vegas Grand Prix, a venture that was deemed highly successful, according to Liberty Media’s president and CEO, Greg Maffei. Maffei expressed enthusiasm about…
Last fall, Enbridge (NYSE: ENB) made a bold strike. The Canadian pipeline and utility giant agreed to buy three natural gas utilities from Dominion in a $14 billion deal. The transaction would create the largest natural gas utility franchise in North America. At the time, Enbridge’s CEO Greg Ebel stated, “Adding natural gas utilities of this scale and quality, at a historically attractive multiple, is a once-in-a-generation opportunity.” While it took a little more than a year, the company has finally closed this generational opportunity to expand its gas utility business. The deal significantly enhances the company’s ability to sustain…
If you’ve ever been denied a bank account, it is likely because of negative actions in your ChexSystems report.ChexSystems is a consumer reporting agency that collects information on the opening and closing of consumer checking, savings and other deposit accounts, including the reasons for the closures. It operates under the Fair Credit Reporting Act and works similarly to a credit agency.CNBC Select breaks down how ChexSystems works and reviews some alternatives if you don’t qualify for more traditional bank accounts.Compare checking accountsWhat is a ChexSystems report?ChexSystems works similarly to a credit bureau. It collects a large amount of banking data…
Michael Jordan’s NASCAR team, 23XI Racing, and Front Row Motorsports filed an antitrust lawsuit against NASCAR and its CEO, Jim France, on Wednesday. The teams argue that NASCAR has employed anticompetitive practices that prevent fair competition within the sport. In a joint statement, 23XI Racing and Front Row Motorsports said, “Together, we brought this antitrust case so that racing can thrive and become a more competitive and fair sport in ways that will benefit teams, drivers, sponsors, and, most importantly, fans.” 23XI Racing, co-founded in 2020 by NBA legend Jordan, driver Denny Hamlin, and Jordan’s business partner Curtis Polk, is…
TD Cowen has adjusted its outlook on ULTA Beauty (NASDAQ: ULTA), reducing the price target to $390 from the previous $395, while maintaining a hold rating on the stock. The firm’s analysis highlighted concerns over the company’s profit margins in the face of a decelerating category and increasing competition. The revised price target follows a recent downgrade of ULTA’s stock rating to hold, after a period of significant price increases. TD Cowen’s assessment points to challenges such as heightened competition from rivals like Sephora and Amazon (NASDAQ:), as well as increased promotional activity within the sector. Despite the cut in…
The BMW XM has faced challenges since its production began in December 2022, with sales struggling to gain momentum. This trend continued in the third quarter of this year, with the automaker managing to sell just 307 XM SUVs. This marks a 30.7% drop compared to the same quarter last year when 443 units were sold. What makes this decline stand out even more is how it compares to other low-volume BMW models. For instance, the company sold 543 Z4s in the same period—a model from the two-seat roadster segment, which typically sees lower sales. While Z4 sales increased by…
By Jennifer Rigby LONDON (Reuters) – Rwanda is battling its first-ever outbreak of the deadly Marburg virus, with 36 cases reported so far and 11 deaths. The World Health Organization said this week the risk of the outbreak is very high in Rwanda, high across the African region, and low globally. What is Marburg virus? Marburg is a virus from the same family as Ebola. It causes a haemorrhagic fever and has an average fatality rate of 50%, according to the WHO, although rates have been as high as 88% in previous outbreaks. Early clinical care and rehydration can improve…
Image source: Getty Images Great UK shares to consider buying for passive income aren’t necessarily those offering the highest dividend yields. Personally, I prefer those companies that keep raising the amount of cash they distribute to investors every (or nearly every) year. Why? Because dividends don’t lie — I either get them or I don’t. In other words, they’re a good indication of how a company is actually trading. Not that I’d ever accuse some management teams of being loose with the truth. Dividend heroes Fortunately, there are quite a few businesses that have great track records on this front.…
With the dog days of summer behind us, temperatures are starting to dip as we approach sweater weather. But something that has refused to cool down is the stock-buying activity of Rep. Marjorie Taylor Greene, Republican from Georgia.Complementing a variety of stock buys from earlier in September, Greene continued to build out her portfolio, reporting in a recent regulatory filing that she bought Alphabet (NASDAQ: GOOG), (NASDAQ: GOOGL), Berkshire Hathaway (NYSE: BRK.A), (NYSE: BRK.B), Intel (NASDAQ: INTC), Microsoft (NASDAQ: MSFT), Southern Copper (NYSE: SCCO), and United Parcel Service (NYSE: UPS). The exact amount that Greene invested in each of the…