Turner scores $175M Sacramento soccer stadium
Award: Stadium build Value: $175 million Location: Sacramento, California Client: Sacramento Republic FC
Turner Construction has scored another win for its stadium project portfolio.
The New York City-based firm will build a $175 million soccer venue for Sacramento Republic FC in downtown Sacramento, California, according to a news release from the team and a term sheet from the city of Sacramento, which approved the deal June 10.
The facility will have a capacity of 12,000 for soccer matches, with the ability to expand to 15,000 for concerts and other events, according to the club's stadium FAQ page.
The project is expected to create over 1,200 construction jobs, according to the club, and over $240 million in economic impact from construction alone. The stadium is part of a larger $321 million entertainment district in the California capital city's Railyards district, according to the Sacramento Bee.
That area, which is directly adjacent to the city's downtown government and business district, served as the western terminus of the first transcontinental railroad in the mid-1800s. Redeveloping the site has been a major focus of the city over the last two decades.
Turner is no stranger to stadium development and construction. Its portfolio encompasses arenas and stadiums for many professional sports teams, including the Golden 1 Center in Sacramento, home of the NBA's Kings, which opened in 2016.
Turner also built Levi's Stadium in Santa Clara, California (with Devcon Construction), SoFi Stadium in Inglewood, California (with AECOM Hunt) and FC Cincinnati's TQL Stadium. The firm is currently working on a $2.1 billion stadium (also with AECOM Hunt) for the NFL's Tennessee Titans. It also recently topped out the $2.1 billion Buffalo Bills stadium with Gilbane.
Groundbreaking is set for the Republic FC stadium later this summer, with a scheduled opening slated for the 2027 USL Championship league season.
Recommended Reading
Adolfson & Peterson completes $33.5M PGA of America headquarters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
19 minutes ago
- CNBC
CoreWeave stock slumps 14% on wider-than-expected loss ahead of lockup expiration
CoreWeave's stock dropped 14% after the renter of artificial intelligence data centers reported a bigger-than-expected loss. In its second quarterly financial results as a public company, CoreWeave reported an adjusted loss of 27 cents per share, compared to a 21-cent loss per share expected by analysts polled by LSEG. CoreWeave's results came as the lock-up period following its initial public offering is set to expire Thursday evening and potentially add volatility to shares. The term refers to a set period of time following a market debut when insiders are restricted from selling shares. "We remain constructive long term and are encouraged by today's data points, but see near-term upside capped by the potential CORZ related dilution and uncertainty, and the pending lock-up expiration on Thursday," wrote analysts at Stifel, referencing the recent acquisition of Core Scientific. Shares of Core Scientific fell 7% Wednesday. In the current quarter, the company projects $1.26 billion to $1.30 billion in revenue. Analysts polled by LSEG forecasted $1.25 billion. CoreWeave also lifted 2025 revenue guidance to between $5.15 billion and $5.35, up from a $4.9 billion to $5.1 billion forecast provided in May and above a $5.05 billion estimate. Some analysts were hoping for stronger guidance given the stock's massive surge since going public in March. Others highlighted light capital expenditures guidance and a delay in some spending until the fourth quarter as a potential point of weakness. "This delay in capex highlights the uncertainty around deployment time; as go-live timing is pushed, in-period revenue recognition will be smaller," wrote analysts at Morgan Stanley. The AI infrastructure provider said revenue more than tripled from a year ago to $1.21 billion as it continues to benefit from surging AI demand. That also surpassed a $1.08 billion forecast from Wall Street. Finance chief Nitin Agrawal also said during a call with analysts that demand outweighs supply. The New Jersey-based company, whose customers include OpenAI, Microsoft and Nvidia, also said it has recently signed expansion deals with hyperscale customers. CoreWeave acquired AI model monitoring startup Weights and Biases for $1.4 billion during the period and said it finished the quarter with a $30.1 billion revenue backlog.
Fox News
41 minutes ago
- Fox News
Treasury sanctions 'brutally violent' cartel for timeshare fraud in tourist destination, warns Americans
FIRST ON FOX: The Treasury Department sanctioned a network of individuals linked to a "brutally violent" cartel for hundreds of millions of dollars of timeshare fraud targeting Americans in popular tourist destination Puerto Vallarta, Mexico, Fox News Digital has learned. The Treasury Department is now warning current U.S.-based owners of timeshares and those considering the purchase of a Mexico-based timeshare, to conduct "appropriate due diligence." Officials warn that the scams often target older Americans who can lose their life savings. The Treasury Department's Office of Foreign Assets Control imposed sanctions on four Mexican individuals and 13 Mexican companies linked to timeshare fraud led by the Cartel de Jalisco Nueva Generacion (CJNG). The individuals linked to the fraud are based in or near Puerto Vallarta. "We are coming for terrorist drug cartels like Cartel de Jalisco Nueva Generacion that are flooding our country with fentanyl," Secretary of the Treasury Scott Bessent said in a statement. "These cartels continue to create new ways to generate revenue to fuel their terrorist operations. At President Trump's direction, we will continue our effort to completely eradicate the cartels' ability to generate revenue, including their efforts to prey on elderly Americans through timeshare fraud." The three senior CJNG members most involved in timeshare fraud sanctioned Wednesday are Julio Cesar Montero Pinzon (Montero), Carlos Andres Rivera Varela (Rivera), and Francisco Javier Gudino Haro (Gudino). Additionally, Puerto Vallarta native Michael Ibarra Diaz Jr. (Ibarra) was sanctioned. Treasury says Ibarra is "engaged in timeshare fraud on behalf of CJNG." The companies sanctioned are Akali Realtors, Centro Mediador De La Costa, S.A. de C.V., Corporativo Integral De La Costa, S.A. de C.V., Corporativo Costa Norte, S.A. de C.V., and Sunmex Travel, S. de R.L. De C.V. They "explicitly acknowledge their involvement in the timeshare industry." Another company involved in timeshare-related transactions that was sanctioned is TTR Go, S.A. de C.V. They claim only to be a travel agency. Three additional companies were sanctioned for their alleged real estate activities: Inmobiliaria Integral Del Puerto, S.A. de C.V., KVY Bucerias, S.A. de C.V., and Servicios Inmobiliarios Ibadi, S.A. de C.V. "This diverse corporate network also includes tour operators (Fishing Are Us, S. De R.L. de C.V.; Santamaria Cruise, S. de R.L. de C.V.), an automotive service company (Laminado Profesional Automotriz Elte, S.A. de C.V.), and an accounting firm (Consultorias Profesionales Almida, S.A. de C.V.). Cartel de Jalisco Nueva Generacion is a U.S.-designated Foreign Terrorist Organization. Officials said the cartel is increasingly supplementing its drug trafficking proceeds with alternative revenue streams like timeshare fraud and fuel theft. "Treasury has taken a series of actions targeting the diverse revenue streams benefitting the cartels, including fuel theft, human smuggling, extortion, and fraud," the Treasury Department said. "As Treasury and its partners seek to disrupt the cartels' revenue streams, it is important to remind current owners of timeshares in Mexico: If an unsolicited purchase or rental offer seems too good to be true, it probably is." Treasury added: "Those considering the purchase of a timeshare in Mexico should conduct appropriate due diligence." Officials said Mexico-based cartels have been targeting U.S. owners of timeshares through call centers in Mexico staffed by telemarketers in fluent English. Officials said that beginning in 2012, CJNG took control of timeshare fraud schemes in Puerto Vallarta, Jalisco, Mexico, and the surrounding area. The scams often target older Americans "who can lose their live savings," officials warned, adding that the lifecycle of the scams can "last years, resulting in financial and emotional devastation of the victims while enriching cartels like CJNG." Officials said the cartels typically obtain information about U.S. owners of timeshares in Mexico from "complicit insiders at timeshare resorts." "After obtaining information on timeshare owners, the cartels, through their call centers, contact victims by phone or email and claim to be U.S.-based third-party timeshare brokers, attorneys, or sales representatives in the timeshare, travel, real estate, or financial services industries," the Treasury Department said. Officials explained that the fraud may include timeshare exit scams, or resale scams, timeshare re-rent scams, and timeshare investment scams. "The common theme is that victims are asked to pay advance 'fees' and 'taxes' before receiving money supposedly owed to them," officials warned. "This money never comes, and the victims are continuously told to send these 'fees' and 'taxes' via international wire transfers to accounts held at Mexican banks and brokerage houses." After initial scams, officials warn that "re-victimization scams can occur." In July 2024, Treasury Department's Financial Crimes Enforcement Network and the FBI issued a joint-notice on the timeshare fraud associated with Mexico-based cartels and criminal organizations. In the six month period following that notice, FinCEN received more than 250 Suspicious Activity Reports, and filers reported approximately 1,300 transactions totaling $23.1 million, sent primarily from U.S. based individuals to counterparties in Mexico. Based on FinCEN's analysis, U.S. fraud victims sent an average of $28,912 and a median amount of $10,000 per transaction to the suspected scammers since July 2024. The FBI says approximately 6,000 U.S. victims reported losing nearly $300 million between 2019 and 2023 to timeshare fraud schemes in Mexico. But officials said that figure "likely underestimates total losses, as the FBI believes the vast majority of victims not report the scam due to embarrassment, among other reasons."
Yahoo
an hour ago
- Yahoo
Cencora Stock: Analyst Estimates & Ratings
Valued at a market cap of $56 billion, Cencora, Inc. (COR) sources and distributes pharmaceutical products for people and animals. The Conshohocken, Pennsylvania-based company provides essential support, encompassing clinical trial logistics and consulting to packaging, data analytics, and patient adherence programs. This healthcare company has outpaced the broader market over the past 52 weeks. Shares of COR have surged 21.6% over this time frame, while the broader S&P 500 Index ($SPX) has gained 20.6%. Moreover, on a YTD basis, the stock is up 28.7%, compared to SPX's 9.6% return. More News from Barchart Warren Buffett Warns Investing At 'Too-High Purchase Price' Even for 'an Excellent Company' Can Undo a Decade of Smart Investing BitMine Immersion Now Holds 1.15 Million Ethereum Tokens. Should You Buy BMNR Stock Here? Why Archer Aviation's (ACHR) Post-Earnings Tailspin Looks Like a Favorably Mispriced Opportunity Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Zooming in further, COR's outperformance looks even more pronounced when compared to the VanEck Pharmaceutical ETF's (PPH) 11% loss over the past 52 weeks and 3.2% YTD drop. On Aug. 6, Cencora released its Q3 results. Due to growth in both its U.S. and International healthcare solutions segments, the company's overall revenue improved 8.7% year-over-year to $80.7 billion, surpassing consensus estimates by a slight margin. Moreover, its adjusted EPS of $4 advanced 19.8% from the prior-year quarter and came in 5.8% above analyst expectations. Additionally, COR raised its fiscal 2025 adjusted EPS guidance, and now expects it to be between $15.85 and $16. Yet, its shares tumbled 2.9% after the earnings release. For the current fiscal year, ending in September, analysts expect COR's EPS to grow 15.9% year over year to $15.95. The company's earnings surprise history is promising. It surpassed the consensus estimates in each of the last four quarters. Among the 14 analysts covering the stock, the consensus rating is a "Strong Buy' which is based on 11 'Strong Buy,' and three 'Hold' ratings. This configuration is slightly more bullish than three months ago, with 10 analysts suggesting a 'Strong Buy' rating. On Aug. 11, JPMorgan Chase & Co. (JPM) analyst Richard Choe maintained a "Buy" rating on COR and set a price target of $344, implying a 19% potential upside from the current levels. The mean price target of $335 represents a 15.9% premium from COR's current price levels, while the Street-high price target of $355 suggests an ambitious upside potential of 22.8%. On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on 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
