New French Battlefield Drone Startup Seeks to Raise $200 Million
Harmattan AI, a company founded in early 2024, detailed its plans to become a major drone producer by next year in an investor pitch deck reviewed by Bloomberg. The financing push comes a few months after the Paris-based startup raised about $30 million in a round that wasn't publicly announced, according to people with knowledge of the deal. They asked not to be identified since the discussions are private.
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Yahoo
25 minutes ago
- Yahoo
Here's the biggest buying opportunity in the stock market ahead of Fed rate cuts, according to Morgan Stanley's chief equity strategist
Morgan Stanley's Mike Wilson thinks the market's best buying opportunity lies in a few areas. He pointed to underperforming areas of the market, like housing, commodities, and consumer goods. Those sectors could soon see a turnaround, he said, pointing to two catalysts on the horizon. The brightest spot in the stock market could be the place investors least expect. That's according to Mike Wilson, the chief US equity strategist at Morgan Stanley, who thinks he's identified the biggest buying opportunity in stocks: the areas that have lagged behind the broader market so far this year. Speaking to Bloomberg on Wednesday, Wilson pointed to areas like housing, commodities, consumer goods, and small caps, which have all underperformed the broader market this year. Those areas have struggled in part because the economy looks like it was going through a rolling recession, Wilson said, referring to a downturn that spreads through various sectors one at a time. But the story for these laggards could change soon for two reasons, in his view. 1. Improving earnings revisions Wilson said Morgan Stanley had been bullish on the financials, industrials, and software sectors since April of this year, due to expectations of strong earnings revisions breadth. That's played out well so far, with the financials, industrials, and tech sectors of the S&P 500 up year-to-date. "At the end of the day, I do think the biggest opportunity going forward is the areas that have not seen those revisions yet," Wilson said. Stocks in the housing, commodities, and consumer goods sectors and small-cap stocks have been rattled this year, in large part due to higher interest rates and concerns swirling around President Donald Trump's tariffs. The consumer goods sector, in particular, is likely going to feel the impact of tariffs soon, Wilson said — but that only adds to his bull case. "So, in the very short term, we actually think revision breadth could come down a bit as some of these tariffs flow through the cost of goods sold. But that's just going to create the next buying opportunity," he added. 2. Fed rate cuts incoming Markets are also expecting a slew of Fed rate cuts over the near-to-medium term, which should help some of the market's laggards. Wilson said Morgan Stanley expected the Fed to remain pat on a rate cut through the rest of 2025, but trim interest rates as much as seven times in 2026. Investors, meanwhile, are expecting rate cuts even sooner, with markets pricing in a 93% chance the Fed could cut rates by a quarter-point in September, according to the CME FedWatch tool. "I mean, that's like wildish bullish for equities, okay? So, you know, you almost have the perfect set-up," Wilson said, adding that areas like small-caps, which are rate-sensitive, will "love" the easing of monetary policy. Wilson, who remained bearish on stocks in recent years before flipping his stance in 2024, has had his eye set on various buying opportunities in the market his year. In July, he said any dips in the market could represent prime opportunities for investors to load up on stocks, and forecast the S&P 500 to end the year around 6,500, around 2% higher than the index's current levels. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
27 minutes ago
- Bloomberg
Trump Taps Miran for Fed Governor Seat Through January
00:00 Yes, Bloomberg reporting was on the spot here, Mike, the idea of a fill in fed governor, we talked about this just yesterday. Why raid the council of economic advisors, though, for the job? Well, obviously, Myron and the president think it would be a more influential position to have him on the Fed, where he would be able to publicly criticized Fed policy if he doesn't like it and maybe help shape the policy going forward. The issue is he's got to leave the CIA. So if he does that, it seems logical that the president would appoint him permanently to that seat if he decides that he can take a chance that Jay Powell will resign in May when his term is up as chair or if he decides to promote Chris Waller. Our other scoop today, that, too, the chair's job who already has a seat and he doesn't need an extra spot. Yeah. We talked to Steven, Myron, about that, as we just mentioned, Michael. This Bloomberg scoop that there is, in fact, a new front runner. We asked him about his thoughts on Mr. Walter and whether he, in fact, was advising the president to go in that direction. Here's what he said. I think that Governor Wahler has really built up really impressive track record in the last two years at the Fed with his predictions about inflation, about with his predictions about where Fed policy needed to move to respond to that inflation. And I think he's done himself a big credit recently as well, you know, not succumbing to the tariff derangement syndrome that many others throughout the throughout the country, but particularly at the Fed, seem to have succumbed to. I don't know if Myron came up with a tariff derangement syndrome. Mike That's a pretty good one. But what are we thinking? Does Walter get the big job? Well, there's a certain logic to it, certainly, because, as I mentioned, there is not going to be another open seat that they can be sure of. So by putting Walter in there, they've enabled the president to fill the cooler seat with somebody who would spend longer on the Fed. The other thing is that Walter has espoused the view that the president has clung to, that there should be rate cuts. Now, Walter isn't going to do 300 basis points, but he would be in favor of a lower neutral rate. The kind of interesting question, though, is if Walter were nominated to be chair, he wouldn't take over until next June. And if that were the case, we don't know what the economy will need. Perhaps by that time inflation breaks out and the president is tweeting every day that we need to raise rates. Anything is possible. But Walter seems more aligned with the president than maybe some others. And he does seem to check a couple of other boxes that would make it convenient for him to be picked.
Yahoo
39 minutes ago
- Yahoo
MP Materials posts smaller loss as rare earths production surges
(Reuters) -MP Materials posted a smaller-than-expected second-quarter loss Thursday, as the U.S. rare earths miner benefited from higher production amid booming demand, sending its shares up nearly 8% after the bell. The company - which operates the only U.S. rare earths mine in Mountain Pass, California - has been in the spotlight as President Donald Trump's administration ramps up efforts to build out a domestic supply to reduce dependence on China. MP Materials said rare earths concentrate production at the mine increased nearly 45% to 13,145 metric tons, while production for neodymium and praseodymium (NdPr) — the two most in-demand rare earths — jumped nearly 120% to 597 metric tons in the second quarter ended June 30. Rare earths refer to a group of 17 metals used to make magnets that turn power into motion, including the devices that make cellphones vibrate. They are also widely used to make weapons, electric vehicles and other electronics. Last month, the company signed a multibillion-dollar deal with the U.S. government to boost output of rare earth magnets, which are used to build weapons, electric vehicles and many electronics. The deal, which would make the Pentagon the company's biggest shareholder, was followed by a $500 million deal with Apple for the supply of rare earth magnets to the iPhone maker. The drive to boost the domestic supply chain has powered a more than four-fold increase in the company's stock so far this year. The DoD, under the deal, will guarantee a floor price of $110 per kilogram for the two most-popular rare earths, a price nearly twice the current Chinese market level. The price floor is one that had long been sought by U.S. critical minerals companies who have complained about China's market manipulations. The Las Vegas-based company posted an adjusted loss of 13 cents per share, compared with analysts' expectations of 19 cents loss per share, according to data compiled by LSEG. Sign in to access your portfolio
