Metal coating company AZZ (NYSE: AZZ), infrastructure consultancy AECOM (NYSE: ACM), and positioning technology company Trimble (NASDAQ: TRMB) are three very different companies. The answer lies in the fact that galvanizing steel is a relatively high-margin business, and AZZ is the leading player in the U.S. In other words, its 21% to 23% operating margin in its metal coating segment should be sustainable.
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The Prime Minister said it’s ‘right’ to spend more on defence in ‘dangerous’ world.
The outgoing chief executive of top semiconductor equipment supplier ASML said on Wednesday that the U.S. government will prevent the company from servicing some machines it has previously sold to Chinese customers in some cases. Such restrictions "will not have a significant effect on the 2025 to 2030 financials, because it will be a limited number" of Chinese plants that are affected, Peter Wennink said. ASML, the largest maker of equipment used to manufacture computer chips, has faced a series of restrictions and licensing requirements from the U.S. and Dutch governments in selling its more advanced equipment lines to Chinese customers.
Ryanair will be forced to scrap a planned expansion of UK flights unless it is allowed to hire foreign air stewards, chief executive Michael O’Leary has said.
Wall Street forecasts are pushing back the timeline for the Federal Reserve to cut interest rates in 2024, if at all. Citi experts are still standing firm on their call for a rate cut to come as early as June or July. Inflation has remained persistent in 2024 while labor market data has been resilient, complicating the Fed's plans to ease rates in an election year. Deutsche Bank Chief US Economist Matthew Luzzetti joins the Morning Brief in-studio to elaborate on his expectations for the Fed to holdout and cut rates as far back as December. "If it's a clear case, probably driven by a weakening labor market and growth data, they could cut rates around the election. I think it's more complicated if it's just about inflation," Luzzetti says. "The Fed is thinking about cutting rates because of disinflation, but inflation is still well above the Fed's target. Cutting rates for the first time, just based on inflation right around the election, I think is more complicated." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
Josef Newgarden’s win in IndyCar’s season-opening race at St. Petersburg was disqualified Wednesday because Team Penske manipulated its push-to-pass system during the race, making Pato O’Ward the winner. Penske teammate Scott McLaughlin, who finished third, was also disqualified. Will Power, the third Penske driver, was docked 10 points.
Indonesia declares Prabowo Subianto president-elect after court rejects rivals' appeal
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At least seven Russian officers have been killed in a missile strike near occupied Mariupol, a Ukrainian official has claimed.
Mario Anzuoni/ReutersThe Sydney church leader who was stabbed during a livestreamed service last week supports Elon Musk’s view that footage of the attack should remain accessible on X, a court in Australia heard Wednesday.A lawyer representing the platform formerly known as Twitter claims Bishop Mar Mari Emmanuel—a controversial Assyrian Orthodox leader who was allegedly stabbed by a 16-year-old boy—has written an affidavit arguing against the position of Australia’s eSafety commissioner, which
The latest campaign pledge from the Labour mayor comes just eight days before Londoners go to the polls
Social media platform Reddit soared more than 120% from its IPO price. Following the IPO, is Reddit stock a buy in today's market?
AI chip stock Arm Holdings surged more than 152% past a recent buy point. Following that advance, is Arm stock a buy in today's stock market?
Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers. CEO David Calhoun said the company is in “a tough moment,” and its focus is on fixing its manufacturing issues, not the financial results. Company executives have been forced to talk more about safety and less about
Tesla stock surged more than 12% early Wednesday after Chief Executive Elon Musk gave investors an overview of the company's outlook.
A British holidaymaker who was mauled by a brown bear in Romania claims her thick Marks & Spencer coat saved her life.
S&P 500: Positive Q1 earnings growth for the S&P 500 rests on these five Magnificent Seven stocks, including Alphabet, Meta and Microsoft, which report this week.
Here’s where the winners bought their lucky tickets.
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