Latest news with #ScottBarlow
Globe and Mail
22-07-2025
- Business
- Globe and Mail
Dividend increases ahead for these utilities
Daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow RBC Capital Markets analyst Paul Treiber published an earnings preview and top picks in the domestic technology sector, 'Our view: We are previewing calendar Q2 earnings for 12 stocks in our coverage universe. As part of our preview, we are raising our price target and estimates on Celestica [from $120 to $185]. We believe the macro environment was largely stable and IT/software demand was sustained through the quarter. Therefore, we expect Q2 results to be largely in line with consensus for the majority of our coverage and we expect most companies to reiterate 2025 guidance. In light of the more resilient than expected environment, valuations of Canadian tech stocks rebounded sharply during the quarter. Among our covered stocks, we believe the best positioned stocks for calendar Q2 are Kinaxis, Coveo and Shopify.' *** CIBC analyst Mark Jarvi is looking for a solid quarter for regulated utilities and more mixed results from power companies, 'We expect updates/questions on how evolving U.S. clean energy policy and tariffs are impacting growth outlooks—that said, we believe most firms remain in a good position and Power stocks are on a positive uptrend. With this note, we also roll out our 2027 estimates and make two rating changes—FTS to Outperformer and CWEN to Neutral. Variances Vs. Consensus: We're >5% above consensus for AQN, EMA and H. We're >5% below for BLX and NPI … we believe weak wind across key regions in Europe will weigh on BLX's and NPI's Q2 results (both >5% below consensus; could see consensus come down before both report). For other firms, generation conditions were generally soft, but not enough to drive material variances with consensus … we believe TA could post modestly stronger results vs. consensus. We expect a 1.5% quarterly dividend increase for CWEN, a 6% annual dividend increase for CPX, and CPX should revise its 2025 guidance upwards to reflect the closing of the recent PJM acquisition … We are above consensus for H, which should benefit from strong load demand in Ontario. On the regulatory front, EMA's plans for new rates at NSPI and the delay in hearings for the NMGC sale will be key to track as are multiple rate cases for AQN (Empire is key). CU/ACO.X's Yellowhead Mainline Pipeline should also have its need application approved soon … We've increased our price target for BEP to $31 (was $30) on hydro pricing uplift and NPI to $29 (was $28) to reflect derisking of Hai Long & Baltic Power); we've trimmed our target for H to $51 (was $52), after we rolled forward our utilities' valuation (now use the average of our '26 and '27 EPS estimates) and updated P/E multiples' *** Scotiabank analyst Nat Schindler identified the first real monetization trend for AI, 'AI excitement has yet to subside. Meta has dominated headlines with acquisitions and datacenter plans. Meta has been the strongest performer (up ~34% during Q2), with Google at ~19%, and Amazon rounding out the three at ~14%. As tariffs and ad spend worries have subsided, focus has returned to AI monetization, with coding front and center. Within AI as a whole, coding has emerged as the first and largest true monetization potential for AI, and the method of charging for tokens has offered differentiation from a simple subscription model. For us, Google still remains the best-positioned of the three names we cover, given the user-facing surfaces and AI embedded in each. Amazon has dominant enterprise distribution via AWS and is expanding its vertical integration into customer chips and partnerships like Anthropic. Lastly, we do see a path forward with Meta regarding increased ad ROI driven by better targeting, but given the huge spend, we will need to see a stronger monetization strategy before getting more positive. Our price targets come up on multiple re-rating.' *** BMO mining analyst Matthew Murphy surveyed his sector and presented top picks, 'Copper ended Q2 up ~4% on the quarter with the positive movement masking what was a significant round-trip with a maximum drawdown of 10% during the quarter. The impressive turn-around for copper since mid-April on the back of reduced recession fears allowed the equities to re-rate higher. Our copper equities managed a 30% return on the quarter, led by HBM and ERO up almost 40%, while returns for TECK were relatively more modest, up 11%. MTAL was subject to an acquisition offer … We would flag our below-consensus estimates on two names: HBM where the impact of Q2 wildfires on Manitoba production and costs is likely driving the softness in our numbers versus consensus, and TECK where the potential combination of a challenging quarter for sales from QB (port was down for part of the quarter), mill issues at Andacollo, and lost productivity due to safety reviews at Antamina may be driving our estimates below consensus. We continue to prefer TECK as we still see an opportunity for operating performance to inflect positively in H2/25' Diversion: 'Should We Be Concerned? Autism Diagnoses Continue To Skyrocket' - SciTechDaily
Globe and Mail
14-07-2025
- Business
- Globe and Mail
A top pick in the hottest REIT sector
Daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow Scotiabank analyst Himanshu Gupta went in-depth on the hottest REIT sector: senior housing, 'In the last three weeks, we reached out to 20+ retirement homes owned by CSH [Chartwell Retirement Residences] and SIA [Sienna Senior Living Inc], and posed as someone requiring a suite for their elderly grandmother! … Based on our conversations with marketing teams of various homes, we gathered 4 to 5% renewal rental spreads in 2025 (mostly similar to last year & in some cases slightly better), and very limited/targeted incentives on offer … Market rent growth is key to keep the Seniors Housing story going: We looked at previous cycle peaks of Industrial REITs, U.S. Sunbelt multi-family and CDN self storage - the three darlings during/post COVID. We observed that unit prices/AFFO [adjusted funds from operations] multiples peaked, in and around the same time when market rent growth peaked ... Based on supply-demand backdrop in Seniors Housing, we believe, market rent growth story is likely to sustain for the next few years, and as such Seniors Housing remains our most preferred sector ... CSH (CSH-UN-T) remains our top pick.' *** A nuclear power-focused podcast from BofA Securities emphasized thorium and a more enriched form of uranium, 'While adding capacity to existing plants isn't a major challenge, adding new US plants is more difficult. Jess Gehin from the Idaho National Lab and BofA Global Research's US Utility analyst Ross Fowler join to discuss what may lie ahead. Jess covers how the recent Executive Orders could accelerate the deployment of nuclear and how they've already stimulated activity. Jess also discusses HALEU [High-Assay Low-Enriched Uranium], a more enriched variety of uranium used in some of the small modular nuclear reactors as well as Thorium, a reactor fuel that was studied in the 1960s and which has seen a resurgence of interest. While Thorium could eventually provide the US a domestically sourced nuclear fuel that enables longer term growth in nuclear generation, Jess believes uranium will be the fuel that continues to dominate for the foreseeable future.' 'Dig it - nuclear renaissance looks to the '60s for inspiration' – BofA Securities *** Bloomberg's Edward Harrison sees trouble brewing under the surface of the U.S. economy, 'Ponzi financing has increased dramatically. Investors are chasing the next … Translation: investors have become increasingly comfortable buying shares of companies that can't fund themselves out of their own cash flow. Why is that, you might ask? I believe a lot of it has to do with the proven Silicon Valley model. It's Apple. It's Microsoft. It's Amazon… people are willing to overlook Ponzi financing of smaller public companies, regardless of sector, as they wait for profits to gush out when the companies reach scale. By the numbers, * 74.8% - Percent of small firms with negative sources of cash … If that constant uncertainty and whipsawing of prices finally brings the US economy to a standstill, there's a non- zero risk — I'd call it substantial — that investors' willingness to fund firms with operating budgets that exceed cash flow would diminish swiftly and substantially … What does that mean for big firms and the economy? My view is that it's akin to what we saw when the Internet bubble popped. Many a small internet companies and upstart telecom businesses went bust' 'The Financial Fragility Risks Are Not in the S&P 500' – Bloomberg *** Bluesky post of the day: Diversion: ' Midlife Mood Shift? Study Says Anger Drops After 50' – SciTechDaily
Reuters
24-06-2025
- Sport
- Reuters
Elly De La Cruz (HR, 3 RBIs) powers Reds past Yankees
June 24 - Elly De La Cruz homered, tripled and singled and drove in three runs as the Cincinnati Reds beat the visiting New York Yankees 6-1 in the opener of a three-game set on Monday night. De La Cruz atoned for a pair of defensive miscues by falling just a double shy of his second career cycle. De La Cruz topped off his memorable night with his 18th homer, an opposite-field shot to right in the eighth inning. Gavin Lux added a solo homer for the Reds. Cincinnati reliever Scott Barlow (3-0) relieved starter Nick Lodolo with one out in the fifth and retired all five batters he faced to earn the win. Aaron Judge belted a 398-foot homer to the upper deck in left, his 28th of the season, while Cody Bellinger doubled twice and had three hits for the Yankees. Following last year's three-game sweep at Yankee Stadium, the Reds have beaten the Yankees four straight times, the longest such streak in the series since Cincinnati swept the 1976 World Series. Barlow entered in the fifth after Lodolo labored through 94 pitches on a sweltering night on the Ohio River, where the temperature was 92 degrees at first pitch and the heat index neared 100 degrees. Lodolo allowed one run on six hits, striking out six and walking none. The Cincinnati lefty surrendered Judge's homer with two outs in the first. Starter Allan Winans (0-1) made his Yankees debut and cruised early, needing just 24 pitches to get through three innings. Winans, who was 7-0 with New York's Triple-A club in Scranton/Wilkes-Barre, was called up to make the start after Ryan Yarbrough went on the injured list with a right oblique strain. Winans, charged with four runs on five hits over 4 1/3 innings, came undone in the fourth as De La Cruz lined a triple over the head of center fielder Bellinger for a run-scoring triple to tie the game at 1-1. Spencer Steer followed with a sacrifice fly to left to put Cincinnati ahead 2-1. Gavin Lux then hooked a pitch from Winans inside the foul pole in right for his fourth homer and a 3-1 lead. De La Cruz singled in a run in the fifth and Jose Trevino hit an RBI single in the eighth. --Field Level Media
Yahoo
21-06-2025
- Sport
- Yahoo
Cincinnati Reds fight back to take series opener from Minnesota Twins
The Cincinnati Reds' clutch muscle appears to have grown quite strong. The Reds flexed that muscle Sunday against the MLB-best Detroit Tigers in a come-from-behind road win. They flexed it again Tuesday at Great American Ball Park as they rebounded twice from deficits to take the series opener from the Minnesota Twins at Great American Ball Park. Advertisement The emergence of this clutch play by Cincinnati is coinciding with winning eight of their last 10 games, arguably their hottest run of 2025, and the appearance of a team with at least some of the ingredients needed to be a contender. On Tuesday, T.J. Friedl's go-ahead, two-run double in the sixth inning proved decisive as the Reds won, 6-5, before a crowd of 26,153. That was one of several important cracks off the Reds' bats on a night when all six of their runs were scored with two outs, and when the Reds faced an early 1-0 deficit and later a 5-4 hole after a Christian Encarnacion-Strand error cracked the door open for the Twins to retake the lead. "We did some good things," Reds manager Terry Francona said. "We made some mistakes, but we did some good things. They're in a good place where they're fighting. Again, it's not always gonna be perfect but they're fighting. I like that a lot." Reds pitcher Scott Barlow (2-0) earned the win as Friedl's hit following his 1 1/3 innings of scoreless work. The ensuing save by Emilio Págan was his 17th, putting him in a tie for the sixth-most saves in baseball. Advertisement Cincinnati improved to 38-35 with the victory, seven games behind the NL Central-leading Chicago Cubs and only 1 1/2 games out of the third wild-card spot. The teams will meet Wednesday for the middle game of their series (7:10 p.m.) as Reds starter Nick Lodolo (4-5, 3.76 ERA) is scheduled to throw against the Twins' Bailey Ober (4-3, 4.40 ERA). Byron Buxton enjoyed an interesting sequence of back-to-back plays on both sides of the ball. First, he robbed Will Benson of a home run at the wall in center field to end the second inning and then led off the top of the third inning with a homer of his own to almost the same part of the field where he made his defensive play. Twins center fielder Byron Buxton kept the Reds from taking an early lead when he went above the wall to rob Will Benson of a solo home run in the second inning. Buxton came to the plate in the next half inning and homered for a 1-0 Twins lead. Benson would have his revenge. Advertisement The Reds were no-hit into the fourth inning when Benson hammered a two-run double to the left-center field wall. Elly De La Cruz scored on the double. He was hitless but walked twice with a steal and a run scored. He lined out in the eighth inning on a screaming line drive to center field measured at 110 mph off the bat. De La Cruz's offensive performance certainly didn't hurt his MLB All-Star Game candidacy with his batting average at .270 and his OPS up to .845. Now in front at 2-1, Cincinnati wasn't done in the fourth even though it probably should have been when Spencer Steer struck out for what should have been the third out of the at-bat. But Steer reached on a passed ball that rolled to the backstop after his swinging, third strike. Given the proverbial extra out to play with, the Reds capitalized. Jake Fraley singled to drive in Benson and Steer for a 4-1 lead. Advertisement National League All-Star candidate Andrew Abbott was cruising along in the meantime. The 4-1 lead was intact into the sixth inning, and Abbott was good enough to be out of that inning but for third baseman Encarnacion-Strand's error on a throw to first base on a routine ground ball. TJ Friedl heads out of the batter's box after connecting on his two-run, sixth-inning double that capped the Reds' second comeback of the game in their 6-5 victory over the Minnesota Twins Tuesday, June. 17. The throw pulled Steer off the bag, allowing Ty France to reach. Now, Minnesota had been gifted an out. They made it count. Two singles followed France, the second of which was hit by Trevor Larnach and drove France in. Then, Harrison Bader clapped a three-run homer to right field. Fraley got leather on the ball at the wall but couldn't secure the catch as the ball deflected off his glove, onto the top of the right-field wall and eventually over. The Twins led, 5-4. Advertisement "I think it was a difficult play and he got turned around, and that made it more difficult," Francona said. "It's a shame because we get to the third out in the sixth and (Abbott's). We're thinking probably send him back out. Not only does that not happen but the inning got extended. You know, a three-run homer that goes off of Jake's glove. That was unfortunate." Asked about Bader's homer run, Fraley said: "Sometimes you make plays and sometimes you don't and he hit it well. Didn't think that it was gonna go too far and then switched my hips and the realized 'OK, I'm probably gonna have to jump up over the wall here to get to it... Just didn't stick in the glove." Fraley and Reds fired right back. Again with two outs, Fraley and Matt McLain singled to put runners on first and second. Friedl then lofted his double into right-center field to drive in both runners and retake the lead at 6-5. Abbott was off the hook for a decision at that point. His record remained at 6-1 with a 1.84 ERA. Just one of the five runs against him was earned. Reds starter Andrew Abbott couldn't get out of a messy sixth inning in which the Twins scored four runs, all unearned. Abbott pitched 5 2/3 innings, allowing five runs, one earned, on eight hits. He struck out five and walked none, lowering his ERA to 1.84. "I credit our defense a lot. I'm still gonna sit here and credit them," Abbott said. "They've done a lot for me in every game up to this point. We all have our days. Those guys are gonna put in the work tomorrow and come back ready to go." Advertisement Barlow tossed 1 1/3 innings of scoreless relief. Tony Santillan added a scoreless inning with two strikeouts, and Págan closed the door. "Barlow gave us four big outs," Francona said. "He was the biggest cog tonight. He really pitched well." This story was updated to add a video. This article originally appeared on Cincinnati Enquirer: Cincinnati Reds take series opener from Minnesota Twins
News.com.au
03-06-2025
- Business
- News.com.au
Ferrari heavyweight replaces Scott Barlow as Sydney FC chairman
Scott Barlow's 13-year tenure as Sydney FC chairman has come to an end as part of an 'evolution' aimed at increasing the A-League club's 'international profile'. Ferrari Australasia president Dr Jan Voss, who joined the Sky Blues board last season, will replace Barlow as chairman. Voss is fluent in five languages – English, German, Italian, French, and Dutch – and 'brings a global perspective and deep experience in brand, performance, and strategic growth' As part of a 'broader strategic restructure', inaugural club chairman Walter Bugno returns to Sydney's board, while technology entrepreneur Sebastian Gray has also been added to the board. 'This is a pivotal moment for Sydney FC,' Voss said. 'I am honoured to be appointed chairman and to work alongside a board that is deeply passionate about football and our club's future.' The club's ownership structure hasn't changed, with the Barlow family remaining as 98 per cent investors, with the other two per cent owned by the Crismale family and two other Australian shareholders. 'With a strong and stable ownership base and a renewed focus on innovation, commercial growth, and elite performance, Sydney FC is more ready than ever to embrace the challenges of the modern football landscape,' Voss said. Barlow has not only departed as chairman but also as board member after two decades of service. 'I wish to thank Scott for his extraordinary leadership and commitment,' Voss said. 'His 13 years as chairman have laid the foundations for the club's next era of growth and international ambition.' Gray – who co-founded Dugout, a digital media company co-owned by a host of top European clubs, including Real Madrid, Barcelona, Bayern Munich, PSG, Arsenal, Chelsea, Liverpool, Juventus, and Manchester City – will strengthen Sydney's focus on 'innovation, digital engagement, and sustainable investment'. Sydney's board also includes technical director Han Berger, Michael Crismale, Suzie Shaw, and Peter Paradise. The Ufuk Talay-coached Sky Blues failed to reach this season's A-League finals series, finishing seventh on the ladder. They reached the semi-finals of the AFC Champions League Two competition before being knocked out by Singapore club Lion City Sailors.
