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Axios
6 hours ago
- Axios
Japanese-American food counter DŌZO is opening a full-service restaurant in Dilworth
DŌZO will relocate from Wesley Heights' City Kitch to Dilworth this fall, reopening as a full-service restaurant and bar. Why it matters: In just under a year, this 12-seat counter in a shared commercial kitchen has outgrown its digs. Now, the team's going bigger and launching a full restaurant and bar to keep up with demand — and to try out new dishes and drinks. State of play: The Japanese-American comfort food spot will shorten its hours at its current location ahead of its final day of service on Sept. 27. What's happening: Co-owner Perry Saito, who also runs the popular Japanese food truck Katsu Kart, will open the new DŌZO at 1419 East Blvd., in the space previously occupied by Fern: Flavors of the Garden, which closed last year. He's aiming to open by Nov. 1, though possibly sooner, he tells Axios. Context: Saito and co-owner/sous chef John Gamble launched DŌZO last September in a 600-square-foot City Kitch stall with 12 seats. The cozy counter quickly became a go-to for affordable, generous portions of Japanese comfort food with American twists, like crab fried rice and hot honey chicken karaage. What to expect: While the Wesley Heights space was designed mostly for takeout, the new DŌZO will be a full restaurant and bar with seating for 30–34 indoors, plus a 30-seat patio with a more lounge-like vibe. The patio will have QR ordering for small bites and drinks. Other upgrades planned for the Dilworth location include: Expanded hours: The new space will serve dinner until 10pm. A similar but "polished" menu: Favorites like crab fried rice and okonomiyaki will remain, but the menu will grow. Lunch will feature teishoku, a set meal similar to a bento box, but with more variety. An expanded fresh fish program will highlight sustainable species beyond tuna, hamachi and salmon. An expanded bar program: The Dilworth location will have a full cocktail list, spotlighting Japanese whiskey highballs and approachable small-brewery sakes.
Yahoo
7 hours ago
- Yahoo
Morgan Stanley Stock Touches All-Time High: Should You Invest?
Amid the broader stock market rally yesterday, Morgan Stanley MS shares touched an all-time high of $148.23 during the trading session to finally close at $147.29. The rally came after the release of the latest inflation report, which suggests that core inflation increased 3.1% year over year in July 2025, more than June's 2.9% Wall Street digests the inflation data, investors have become more optimistic about a Fed rate cut next month, which drove the market the past 3 months, Morgan Stanley shares have gained 12.4%, outperforming the S&P 500 Index's 8.8% rise and its industry's 11.3% growth. While MS has performed better than its peer, Bank of America BAC, it has underperformed another close competitor, Citigroup C. The BAC stock has moved up 6.2%, whereas shares of Citigroup have rallied 27.2% in the same time frame. Price Performance Image Source: Zacks Investment Research Does the MS stock have more upside left despite hitting an all-time high? Let us find out. What's Aiding Morgan Stanley's Performance? Increased Focus on Wealth & Asset Management Operations: Morgan Stanley has lowered its reliance on the capital markets for income generation. It has now been focusing on expanding its wealth and asset management operations. The acquisitions of Eaton Vance, E*Trade Financial and Shareworks are steps in this direction. These moves have bolstered the company's diversification efforts, enhanced stability and created a more balanced revenue stream across market wealth and asset management businesses' aggregate contribution to total net revenues jumped to more than 55% in 2024 from 26% in 2010. We project both segments' total contribution (in aggregate) to the top line to be 53.8% in wealth management segment's total client assets witnessed a five-year (2019-2024) compound annual growth rate (CAGR) of 18.1%, while the investment management segment's total assets under management saw a CAGR of 24.7% over the same period. The upward momentum is expected to continue as the operating environment becomes more Alliances: MS's partnership with Mitsubishi UFJ Financial Group, Inc. will likely keep supporting its profitability. In 2023, the companies announced plans to deepen their 15-year alliance by merging certain operations within their Japanese brokerage joint ventures. The new alliance saw combined Japanese equity research, sales and execution services for institutional clients at Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities. Also, their equity underwriting business has been rearranged between the two brokerage units. These efforts will solidify the company's position in Japan's this has helped the company achieve record equity net revenues, particularly in Asia, through outperformance in prime brokerage and derivatives, led by solid client activity amid heightened volatility. The company's Asia region revenues jumped 28% year over year to $4.65 billion in the first half of Balance Sheet & Capital Position: Morgan Stanley has a solid balance sheet. As of June 30, 2025, the company had long-term debt of $320.1 billion, with $23.8 billion expected to mature over the next 12 months. The company's average liquidity resources were $363.4 billion as of the same capital distribution plans have been impressive. Following the clearance of the 2025 stress test, it announced an 8% hike in quarterly dividend to $1.00 per share and reauthorized a multi-year share repurchase program of up to $20 billion (no expiration date). The company has increased its dividend five times in the last five years, with an annualized growth rate of 22.8%.Given a solid liquidity position and earnings strength, Morgan Stanley is expected to be able to continue with efficient capital distribution activities, thereby enhancing shareholder value. What's Hurting MS's Growth Rising Expense Base: Despite Morgan Stanley's restructuring and streamlining efforts that resulted in achieving its cost savings target of $1 billion in 2017, overall expenses have been increasing. Though expenses declined in 2022, the metric witnessed a five-year (ended 2024) CAGR of 7.8%. The rising trend continued in the first half of are expected to remain elevated on the steady increase in revenues (leading to higher compensation costs) and inflation, as well as the company's investments in franchise and inorganic growth efforts. Expense Trend Image Source: Zacks Investment Research Reliance on Trading Revenues: Morgan Stanley's over-dependence on trading revenues is worrisome. While sales and trading revenues improved in 2021, 2022 and 2024, they declined in 2023. Because of the uncertainty surrounding the tariff plans, trading revenues increased again in the first half of 2025. However, the volatile nature of the business and the expectation that it will gradually normalize toward the pre-pandemic level are likely to make growth challenging in the upcoming quarters. How to Approach Morgan Stanley Stock Now MS's efforts to become less dependent on capital markets-driven revenues, its inorganic expansion efforts/strategic alliances, along with relatively high rates, are expected to support financials. Moreover, supported by a solid balance sheet position, the company is expected to be able to meet near-term debt obligations, even if the economic situation seem to be bullish regarding MS's earnings growth prospects. Over the past 30 days, the Zacks Consensus Estimate for the company's 2025 and 2026 earnings has moved upward. The estimates reflect year-over-year growth rates of 10.9% for 2025 and 8% for 2026. Earnings Estimates Image Source: Zacks Investment Research However, rising expenses, given higher compensation costs and inorganic growth efforts, will likely hurt the company's profitability in the near term. High reliance on trading revenues is another investors should not rush to buy the MS stock now; instead, they should keep this Zacks Rank #3 (Hold) stock on their radars and wait for an attractive entry point. Those who already own the MS stock in their portfolio can retain it because it is less likely to disappoint over the long can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bank of America Corporation (BAC) : Free Stock Analysis Report Morgan Stanley (MS) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
7 hours ago
- Yahoo
Monarch Tractors won't be built by Foxconn after Ohio factory sale
Foxconn will no longer build electric tractors for California startup Monarch Tractor after the Taiwanese tech giant recently sold its Ohio factory to SoftBank. Monarch CEO Praveen Penmesta confirmed the news in a LinkedIn comment Tuesday. He also said his company worked with Foxconn to 'build up inventory' before the sale of the factory, noting his startup has 'enough to meet customer demand for the next 12 months, along with ample spare parts.' 'In the coming weeks, we will be sharing more about our plans to introduce more Monarch-enabled products in the market through new manufacturing partnerships,' Penmesta wrote. Following the sale, SoftBank is expected to work with Foxconn to use the factory to make equipment for the Stargate AI project led by OpenAI and Oracle. Foxconn purchased the former General Motors factory from EV startup Lordstown Motors in 2022. Young Liu, Foxconn's chairman, said prior to the sale closing that the facility was going to be the 'most important electric vehicle manufacturing and R&D hub in North America.' Monarch was one of four companies Foxconn promoted as customers (or potential customers) of the electric vehicle contract manufacturing operation it tried to establish at the former General Motors factory. Foxconn built a few hundred tractors for Monarch at the plant, but the startup has struggled. Last year, it went through two rounds of layoffs and had to quickly pivot to new types of customers as California's wine industry crashed. The other three companies Foxconn wanted to build vehicles for have all filed for bankruptcy. While Foxconn made a handful of Lordstown Motors pickups at the plant, the startup went under in 2023. The other two prospective customers were Fisker Inc. and a small California startup called IndiEV. Foxconn never built any vehicles for those companies at the factory, and they have also both since gone out of business.
