Latest news with #Konrad
Business Insider
17-05-2025
- Business
- Business Insider
Analysts Offer Insights on Industrial Goods Companies: Virgin Galactic Holdings (SPCE) and Electrovaya (ELVA)
There's a lot to be optimistic about in the Industrial Goods sector as 2 analysts just weighed in on Virgin Galactic Holdings (SPCE – Research Report) and Electrovaya (ELVA – Research Report) with bullish sentiments. Confident Investing Starts Here: Virgin Galactic Holdings (SPCE) In a report released yesterday, Greg Konrad from Jefferies maintained a Buy rating on Virgin Galactic Holdings, with a price target of $8.00. The company's shares closed last Friday at $4.80, close to its 52-week low of $2.85. According to Konrad is ranked #9148 out of 9558 analysts. The word on The Street in general, suggests a Hold analyst consensus rating for Virgin Galactic Holdings with a $14.58 average price target, representing a 289.8% upside. In a report issued on May 15, TD Cowen also maintained a Buy rating on the stock with a $4.50 price target. Electrovaya (ELVA) In a report issued on May 15, Amit Dayal from H.C. Wainwright maintained a Buy rating on Electrovaya, with a price target of $10.00. The company's shares closed last Friday at $3.04. According to Dayal is ranked 0 out of 5 stars with an average return of -18.7% and a 28.3% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as TOMI Environmental Solutions, Amprius Technologies Inc, and Surf Air Mobility, Inc. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Electrovaya with a $5.00 average price target, implying a 61.8% upside from current levels. In a report issued on May 7, Craig-Hallum also maintained a Buy rating on the stock.
Axios
24-04-2025
- Business
- Axios
Independent journalists prioritize community building for growth
Influential journalists who have positioned themselves as subject matter experts and amassed large followings are ditching traditional outlets to venture out on their own. Why it matters: These independent journalists are grappling with the same challenges that many communication and brand teams face. That is, how do they differentiate themselves in the market and establish a strong reputation with the audiences that matter most? State of play: As trust in media declines, independent journalists are pivoting away from writing for passive readerships and toward building a hyper-engaged community — and it's proving to be quite lucrative. The Free Press, founded by former New York Times writer Bari Weiss, boasts more than 155,000 paid subscribers and is estimated to generate at least $10 million annually from subscription revenue, per Axios' Sara Fischer. Former Bloomberg reporter Eric Newcomer announced that his independent media entity, Newcomer, brought in $2 million in revenue in 2024 and he has recently made his first round of hires. Former CNN reporter Oliver Darcy's Status newsletter has accumulated more than 70,000 total subscribers since its launch and is estimated to generate $1 million in annual recurring revenue. The latest big-name journalist to make this pivot is former Forbes editor Alex Konrad, who last month launched Upstarts Media, covering the startup ecosystem. The big picture: The volatility of the news industry, paired with the growth of publishing platforms, has made independent journalism more appealing but has also led to more media fragmentation. The formats and distribution channels are also evolving, with news personalities like Jim Acosta and Chris Matthews hosting daily live shows on these creator-owned platforms like Substack, for example. Between the lines: Independent ventures enable journalists to become hyper-specific on coverage areas and desired audiences — and it allows them to engage with these audiences as they wish. Konrad created a WhatsApp group for the founding subscribers to his Upstarts newsletter, in which he actively hosts conversations. Substack writer Emily Sundberg is known for engaging in real-time through her comments section. Driving the news: Christine Choi, partner at early stage venture capital firm M13, gathered several journalists who ditched traditional newsrooms to build their own media empires — like Newcomer, Konrad, Polina Pompliano and Zack Guzmán — to help make sense of the evolving landscape for a room full of investors, founders and communication professionals. Media entrepreneurs like Business Insider co-founder Henry Blodget, Quartz co-founder and CEO of Charter media Kevin Delaney and Capital Allocators founder Ted Seides were also in the crowd. What they're saying: In-person events are a major component of community building, Konrad told me during our on-stage conversation at the M13 event. "The media landscape and technological trends [are] pushing us towards community, towards a direct relationship with your audience," he said. "The most important thing about events is to have a moment where I can talk to a bunch of people that matter to [the startup] ecosystem and help them meet other people within the ecosystem. "It's not just revenue for me. It's about seeing that close connection with our audiences grow."
Yahoo
12-04-2025
- Business
- Yahoo
JPMorgan Chase, Morgan Stanley And Wells Fargo Face Earnings Uncertainty Amid Trump Tariff Fallout And Market Turmoil
U.S. investment banks are set to announce their earnings in an economic climate marred by turbulence and the repercussions of President Donald Trump's tariffs, which have led to a substantial decline in U.S. stocks. What Happened: Banks such as JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC), and Morgan Stanley (NYSE:MS) have experienced a significant drop in their share prices over the past week. The expected prosperous year for investment banks is currently on hold due to economic instability and the effects of Trump's tariffs, KBW equity research analyst, David Konrad, said, reported Fortune. Konrad has revised his Q1 estimates for most globally systemically important banks (G-SIBS), predicting a 5% quarter-over-quarter drop in investment banking. Mike Mayo, Wells Fargo's head of large bank research, also revised his Q1 estimates for bank stocks, reducing them by 4%. "Although we expect a solid quarter compared to the first quarter 2024, volatility in interest rates, sticky inflation and uncertainty surrounding tariffs drove declining equity markets and muted lending and investment banking activity for the quarter," wrote Konrad. Mayo anticipates that JPMorgan Chase, the country's largest bank, will exceed Q1 expectations. While Mayo raised JPMorgan Q1 EPS estimate by 12 cents to $4.77 a share, Konrad lowered his estimate by one cent to $4.65. Both Mayo and Konrad have lowered their Q1 EPS estimates for Morgan Stanley, while Wells Fargo is also due to report on Friday. For Wells Fargo, Konrad boosted his estimate by one cent to $1.22 a share. SEE ALSO: Bitcoin, Ethereum, XRP, Dogecoin Lose Steam, Trader Warns Of 'New Lows' Under One Condition – Benzinga Why It Matters: The current economic uncertainty and the impact of Trump's tariffs have led to a significant drop in bank stocks. This has resulted in analysts revising their forecasts for Q1 earnings. For instance, Wells Fargo is expected to report Q1 earnings at $1.23 per share, up from $1.20 per share in the year-ago period. However, the bank's projected quarterly revenue of $20.76 billion is slightly lower than the $20.86 billion reported a year earlier. Goldman Sachs Group Inc. (NYSE:GS), Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) are set to announce their Q1 results next week. Despite Citi's stock falling nearly 13% since April 2, when President Trump unveiled his 'Liberation Day' tariffs, Mayo still favors the bank. Bank of America is scheduled to announce results on Tuesday, April 15. Mayo has trimmed his Q1 EPS forecast by two cents to 78 cents, while Konrad has cut his estimate by five cents to 84 cents. Shares of JPMorgan Chase dropped 3.09% on Thursday, while Wells Fargo and Morgan Stanley stocks declined 4.85% and 4.58%, respectively, according to data from Benzinga Pro. READ MORE: Trump Tariff Turmoil Hits ValueAct's Amazon Stake, But Well-Timed Salesforce Sell Pays Off Image via Shutterstock : This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Send To MSN: Send to MSN Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article JPMorgan Chase, Morgan Stanley And Wells Fargo Face Earnings Uncertainty Amid Trump Tariff Fallout And Market Turmoil originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
11-04-2025
- Business
- Yahoo
JPMorgan, Wells Fargo and Morgan Stanley set to post lower than expected Q1 results on Friday amid tariff chaos
An expected boom year for investment banks is on hold as jitters about the economy, along with President Trump's tariffs, have caused U.S. stocks to tumble. Banks, which have seen their shares plunge in the past week, are scheduled to kick off first quarter earnings Friday. David Konrad, a KBW equity research analyst, said there were hopes last fall that lower regulations and a surge in animal spirits would unlock both the IPO market and M&A activity in early 2025, according to an April 3 note. Konrad has now lowered Q1 estimates across the board for the majority of globally systemically important banks, or G-SIBS, due to an expected 5% drop quarter over quarter in investment banking. Volatility from Trump's tariffs have caused IPOs and many mergers to go on hold, Fortune has reported. 'Although we expect a solid quarter compared to first quarter 2024, volatility in interest rates, sticky inflation and uncertainty surrounding tariffs drove declining equity markets and muted lending and investment banking activity for the quarter,' Konrad wrote. Mike Mayo, head of large bank research at Wells Fargo, also lowered first quarter estimates for bank stocks by 4%, according to a March 27 research note. "The key reason is a degree of paralysis from policy uncertainty that makes us more conservative for investment (slow year to date start), loans (no acceleration yet), fixed asset repricing (lower fed rates), and reserves (affected by estimated lower GDP growth),' Mayo wrote. Best in Class JMorgan, along with Wells Fargo and Morgan Stanley, is slated to report their first quarter results Friday. Goldman Sachs, Citi and Bank of America are scheduled for next week. Mayo said his top pick remained Citi given the bank's expected progress from value destruction to value creation. Citi, along with Bank of America, are scheduled to report Q1 results on April 15. Mayo expects the New York bank to report $1.90 a share, compared to consensus estimates of $1.84. Mayo said he estimates '9% year-over-year growth in trading largely because volatility and estimated end-user hedging needs remained high through the month of March.' KBW's Konrad cut Citi's Q1 EPS to $1.83 from $2.07 a share due to lower banking fees and higher provisions, but raised his price target for Citi to $96 from $92. Citi has seen its stock slide about 13% since April 2, when President Trump introduced his 'Liberation Day' tariffs. On Thursday, the stock was down about 4% to close at $61.59. Mayo expects JPMorgan Chase, the nation's largest bank, to deliver a Q1 beat. JPMorgan, in the short term, should benefit from volatility given its role as a market facilitator, while in the medium term, the bank should be among those most set to benefit from deregulation, Mayo said in a March 27 note. He boosted JPMorgan Q1 EPS estimate by 12 cents to $4.77 a share, up from consensus estimates of $4.58. KBW's Konrad decreased his estimate by one cent to $4.65 with a price target that remains at $264. 'JPM is a best-in-class bank trading at only 60% of the market [price-to-earnings ratio],' Mayo said. JPMorgan's stock has fallen about 7% since April 2. On Thursday, the stock ended at 227.11, down more than 3%. Both Mayo and Konrad reduced their estimates for Morgan Stanley's Q1 EPS. Mayo expects MS to report $2.21 a share, down 10 cents from his prior expectations while KBW's Konrad anticipates $2.20 a share. The consensus estimate for MS is $2.22. Both analysts also reduced their price target for Morgan Stanley, with Mayo at $130 and Konrad at $135. 'In our view, continued capital markets recovery is delayed and not dead, with better activity likely later in 2025, and MS likely benefiting from seasonally front-loaded net new assets in wealth in first quarter 2025,' Mayo wrote. Since April 2, shares of Morgan Stanley have fallen roughly 8%. The stock closed Thursday off nearly 5% to $106.58. Wells Fargo is also on tap to report Friday. KBW's Konrad boosted his expectations for WFC by one cent to $1.22 a share, in line with Wall Street's expectations. Konrad also cut his price target to $83 from $86. 'The primary risks that could affect our earnings outlook and price target include an unexpected increase in credit costs, reduced loan demand, and margin pressure,' Konrad said in the April 3 note. WFC's stock has fallen more than 11% since Trump introduced the tariffs. The shares rebounded late Wednesday but gave back those gains Thursday, with the stock falling nearly 5% to 63.11. Goldman Sachs, the storied investment bank, is scheduled to report their Q1 results on Monday, April 14. Mayo lowered his Q1 EPS estimate for Goldman to $12.90 while Konrad cut his expectation to $11.93. (Konrad also lowered his price target for GS to $600 from $660.) Despite lowering his estimates, Mayo said he still thinks a capital markets rebound is delayed and not dead. 'However, the policy uncertainties are testing our conviction and making us think that the delay has a chance to be longer than expected with the chance of a 'super cycle' more remote,' Mayo said. Shares of Goldman have fallen about 11% since Trump introduced the tariffs. On Thursday, the stock closed down more than 5% to $489.80. Lastly, Bank of America is slated to report on Tuesday, April 15. Mayo lowered his Q1 EPS estimate by two cents to 78 cents, while Konrad reduced his expectations by a nickel to 84 cents. He cut his price target to $55 from $59 while Mayo remained unchanged at $56. BAC shares have fallen 16% since April 2, and closed Thursday at $34.85, down nearly 4%. 'Consumers should benefit from improving low-cost deposit pricing (mix likely stabilized) with some headwinds in seasonal card fees,' Mayo wrote in the note. This story was originally featured on
Bloomberg
25-03-2025
- Climate
- Bloomberg
Spain's Storms Refill Reservoirs, Easing Nation's Worst Drought
Jana, Konrad, Laurence and Martinho — the unprecedented string of four named storms that barreled through the Iberian peninsula in the past three weeks — came with a silver lining: the likely end of Spain's worst drought in recorded history. The tempests tripled the amount of rain that usually falls on all of Spain during the first three weeks of March, according to meteorological agency Aemet. Cities like Seville, Cordoba and Madrid saw 10 times the usual amount of rainfall, with dozens of weather stations across the country registering monthly records.
