Latest news with #TomGores
Yahoo
10-05-2025
- Business
- Yahoo
The Smartest Data Center/AI Stocks to Buy With $2,000 Right Now
These two hidden stocks play the AI/data center theme. This data center equipment company and Nvidia partner provides critical solutions. This company is aggressively increasing its power utilities and data center exposure. 10 stocks we like better than Vertiv › Suppose you think of investing a relatively small amount of money in stocks in a diversified portfolio and are looking to spread risk while gaining upside exposure to an exciting growth theme. In that case, the AI/data center space is a good place to start. Vertiv (NYSE: VRT) and nVent (NYSE: NVT) may not spring to mind when thinking about how to profit from the booming demand for artificial intelligence (AI) applications and, in turn, data center spending. However, that observation highlights an opportunity for discerning investors to profit. All three provide crucial solutions and services to data centers and represent hidden ways to play the theme. Vertiv provides digital infrastructure for data centers and communication networks, and its products include power management, switchgear, thermal management, and monitoring and control infrastructure. Emerson Electric sold the company to Tom Gores' private equity company, Platinum Equity, in 2016, which then brought the company to the market in 2020. Its executive chairman is former long-term CEO of Honeywell, David Cote. The company has found itself ideally placed to benefit from the rising interest in data center investment to support application growth, as amply demonstrated by Vertiv's booming backlog growth. That growth continued through the first quarter, with backlog up 10% from the end of 2024. The strength in its orders and backlog growth encouraged management to raise the midpoint of its full-year organic revenue growth forecast to 18% from a prior estimate of 16% on its recent Q1 earnings call. However, management maintained the midpoint of its profit margin, profit, and cash flow guidance due to uncertainty over tariffs. Still, Vertiv's management and Wall Street analysts expect $1.3 billion in free cash flow (FCF) in 2025, and Wall Street expects $1.65 billion and $1.79 billion in FCF in 2026 and 2027. With a current market cap of $36.1 billion, Vertiv would trade on 28 times and 22.5 times FCF in 2025 and 2026. That's not outstandingly cheap, but it will look like a good value if the trend toward accelerating AI/data center demand continues. nVent offers electrical connection and protection solutions to various industrial, commercial, and residential customers. Those end markets include data centers and the power utilities that generate the energy to power them. Management has made a conscious decision to increase the company's exposure to these attractive end markets by divesting its thermal management business in January, and then completing the purchase of the electrical products group business of Avail Infrastructure Solutions for $975 million. The deal means infrastructure (data solutions and power utilities) now makes up 40% of its portfolio. It's also the fastest-growing end market for nVent. CEO Beth Wozniak noted that its data solutions organic orders rose at a strong double-digit rate in Q1, compared to mid-single-digit growth for the rest of the business. Ultimately, the strength in data solutions order led to mid-teens growth in organic orders in Q1. Just as with Vertiv, nVent's excellent first quarter encouraged management to raise its full-year sales guidance to organic growth of 5% to 7%, compared to a previous estimate of 4% to 6%. However, unlike Vertiv, nVent's management raised its full-year earnings growth guidance to 22% to 26%, compared to an earlier estimate of 20% to 24%. In addition, these forecasts include an assumption of a negative tariff effect of $120 million. Wozniak was clear that power utilities and data centers are driving nVent's growth when she said: "As we look at data solutions and power utilities, in particular, here's where we see that growth accelerating." Despite fears of a slowdown in data center spending going into earnings season and the possible effect of tariffs on business confidence through April, data center spending remains robust. Wall Street analysts share this view, seeing nVent report $3.09 and $3.46 in earnings per share in 2025 and 2026, with FCF coming in at $406 million and $561 million. Those estimates put nVent on less than 20 times earnings in 2025, 17.4 times earnings in 2026, and 24 times FCF and 17.7 times FCF in 2025 and 2026. These are attractive multiples, and with upside potential, nVent is an excellent stock to buy. Before you buy stock in Vertiv, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Vertiv wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $614,911!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $714,958!* Now, it's worth noting Stock Advisor's total average return is 907% — a market-crushing outperformance compared to 163% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 5, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Emerson Electric and Nvidia. The Motley Fool has a disclosure policy. The Smartest Data Center/AI Stocks to Buy With $2,000 Right Now was originally published by The Motley Fool Sign in to access your portfolio
Time of India
02-05-2025
- Sport
- Time of India
$9.4 billion-rich Detroit Pistons owner Tom Gores shared thoughts on team's breakout year
Detroit Pistons owner Tom Gores commets on team performance this season. Image via: Duane Burleson/ AP | Carlos Osorio/ AP The Detroit Pistons faced a crushing 116-113 defeat against the New York Knicks in Game 6 at Little Caesars Arena in Detroit. After the defeat on their home ground on May 1, Pistons fans can remember the team's decorated performance. Undoubtedly, the Pistons had a season to remember with several incredible records to their name while beginning the team to play in the playoffs. Recently, Tom Gores shared his thoughts on how the team performed this season. Tom Gores reacted to the Detroit Pistons' loss in Game 6 The Pistons delivered a season to remember, making history as the first team ever to triple their win total in a single year, jumping from just 14 victories to 44. They also snapped a long playoff win drought that had stretched back to 2008. Adding to the excitement, Cade Cunningham earned his first All-Star selection, marking a major milestone in his young career. — NBATV (@NBATV) by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Highest Paying Degrees For 2025 Best Paying Degrees | Search Ads Learn More Undo Pistons owner Tom Gores, who boasts a whopping net worth of $9.4 billion (per Detroit Free Press), recently shared his candid thoughts on the performance of the players in his team. "[The Pistons] are a really unselfish group and nobody really counted them in this year. I expected them to do well—not this well, quite honestly." Gores said on a Thursday night (via Detroit Free Press.) "It wasn't that long ago that I was apologizing to the fans," Gores continued (via ESPN). "But they hung in there. ... This year I want to thank the fans for hanging in there. I think the team needed them. Last year was really rough, this was a year the team really needed them and Detroit showed up." The Pistons were not far behind the New York Knicks in Game 6. They had a strong offensive showing, putting up 113 points while shooting 46.9% from the field as a team. Jalen Duren was one of the key contributors, scoring 21 points on an efficient 6-of-9 shooting and knocking down 9 of his 10 free throws. He also added 6 rebounds and 3 assists. Ausar Thompson impressed as well, scoring 17 points in just under 23 minutes, shooting 71.4% from the floor and grabbing 6 rebounds. Cade Cunningham led the team in minutes played (44:03) and filled up the stat sheet with 23 points, 8 assists, and 7 rebounds. Despite struggling from beyond the arc (0-of-8), he remained aggressive and efficient from the free-throw line (83.3%). Malik Beasley brought a spark off the bench, hitting 6 threes on 13 attempts for a 20-point outing and registering the best plus-minus on the team at +17. Also Read: New York Knicks vs Detroit Pistons (05/01): Box score, player stats, game summary and more Unfortunately, the Pistons fell short by 3 points as they had to face defeat on their home ground. Regardless, it was part of the game, and fans hope that the team will come back even stronger in the next season.
Yahoo
05-04-2025
- Sport
- Yahoo
Pistons complete epic turnaround, clinch playoff spot with win over Raptors
The Detroit Pistons have officially clinched an NBA playoff spot for the first time in six years. Their road victory over the Toronto Raptors at Scotiabank Arena on Friday night guarantees the Pistons a top-six seed in the Eastern Conference playoffs, which begin April 19. The Pistons will avoid the play-in tournament, which features the Nos. 7-10 seeds in each conference and takes place April 15-18. Advertisement This is the Pistons' fourth time making the playoffs since the franchise's last East finals appearance 17 years ago, in 2008, and third since owner Tom Gores purchased the team ahead of the 2011-12 season. Detroit Pistons playoff seed in Eastern Conference Friday's victory moved the Pistons into fifth place in the East by themselves, half a game ahead of the Milwaukee Bucks and three games behind the fourth-place Indiana Pacers. In the playoffs, the East's 6-seed will face the 3-seed — currently the New York Knicks, 2½ games up on the Pacers — while the 4- and 5-seeds face off. Ron Holland of the Detroit Pistons celebrates a first half turnover by the Chicago Bulls with Cade Cunningham at Little Caesars Arena in Detroit on Sunday, Feb. 2, 2025. The Pistons lead the series over the Knicks, 2-1, with the final game taking place in Detroit on Thursday. The Pistons lost three of four to the Pacers this season. Advertisement The Pistons trail the series against the Bucks, 2-0, and will play them twice in a row to conclude the season, April 11 and 13. READ MORE: Dennis Schröder's veteran play is right on time for Detroit Pistons It has been a historic season — the Pistons are the first team in NBA history to triple their win total from the previous season (14) as they secured a winning record for only the second time in the past 17 years. Detroit Pistons playoff losing streak Next up: Snapping an NBA-record 14-game postseason losing streak that dates back to the 2008 Eastern Conference finals. The Pistons lost the final two games of that series, then were swept in the first round in 2009 (by the Cavaliers), 2016 (the Cavs again) and 2019 (by the Bucks). Advertisement [ MUST WATCH: Make "The Pistons Pulse" your go-to Detroit Pistons podcast, listen available anywhere you listen to podcasts (Apple, Spotify) ] Follow the Detroit Free Press on Instagram (@detroitfreepress), TikTok (@detroitfreepress), YouTube (@DetroitFreePress), X (@freep), and LinkedIn, and like us on Facebook (@detroitfreepress). This article originally appeared on Detroit Free Press: Pistons NBA playoffs: Spot clinched with win over Raptors
Boston Globe
31-01-2025
- Business
- Boston Globe
Owners of Pistons and Lions part of bid to bring WNBA team back to Detroit
Advertisement Investor group led by Detroit Pistons owner Tom Gores submits bid to bring the WNBA back to Detroit: — Detroit Pistons (@DetroitPistons) The Detroit Shock were one of the WNBA's first expansion teams, winning three titles between 1998 and 2009. The Shock ranked in the top five for attendance for five straight seasons and led the league in that category for three consecutive seasons. Detroit set a single-game attendance record of 22,076 fans at Game 3 of the 2003 WNBA Finals. Get Starting Point A guide through the most important stories of the morning, delivered Monday, Wednesday, and Friday. Enter Email Sign Up The new team would play at Little Caesars Arena. 'Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,' Gores said. 'At a critical moment in the growth and development of the WNBA, it supported the hometown team more than any other franchise in the league. We're here to rekindle that legacy.' The bid also is supported by Michigan Gov. Gretchen Whitmer and Detroit Mayor Mike Duggan. The bid includes a plan to build a dedicated practice facility and headquarters open 24 hours a day for the WNBA team. That facility would include courts, locker room, workout facilities, and office and lounge space. A sports center open to the public also would be developed. 'Michiganders are fired up,' Whitmer said. 'Our passion for our teams and players is unmatched, our commitment to our communities remains unwavering, and our vision for women's sports is crystal clear. My administration stands ready to support this franchise's success.' The WNBA is adding three expansion teams in the next two seasons with Advertisement Nashville announced a bid Thursday. The team would be called the Tennessee Summitt to honor the legacy of the late Pat Summitt and three-time WNBA champ Candace Parker is in the investor group along with Pro Football Hall of Fame quarterback Peyton Manning and the chairman of the NHL's Predators. That bid also includes a dedicated practice facility. A group in Nashville, Tenn., submitted a bid for a WNBA expansion team that would be called the Tennessee Summitt, honoring former University of Tennessee women's basketball coach Pat Summitt. WADE PAYNE/Associated Press
Fox Sports
31-01-2025
- Business
- Fox Sports
Owners of NBA's Pistons and NFL's Lions part of bid to bring WNBA team back to Detroit
Associated Press DETROIT (AP) — Detroit wants to bring the WNBA back to the Motor City, backed by an investor group led by the owner of the NBA's Pistons and NFL's Lions. Pistons owner Tom Gores submitted the bid Thursday and it was announced Friday. The group includes Sheila Ford Hamp and her husband, the principal owners of the Detroit Lions; the chief executive officer and chair of General Motors Company; Hall of Famer and former NBA rookie of the Year Grant Hill; Lions quarterback Jared Goff and his wife; and others. 'For the WNBA this is home, and our bid represents an unprecedented opportunity for the league to come full circle and effect a long-hoped-for Detroit homecoming,' Gores said in a statement. "No city is more prepared to embrace the team as a community asset that drives unity and common ground.' The Detroit Shock were one of the WNBA's first expansion teams, winning three titles between 1998 and 2009. The Shock ranked in the top five for attendance for five straight seasons and led the league in that category for three consecutive seasons. Detroit set a single-game attendance record of 22,076 fans at Game 3 of the 2003 WNBA Finals. The new team would play at Little Caesars Arena. 'Detroit is a sports town that loves its teams deeply and consistently shows up with unwavering passion,' Gores said. 'At a critical moment in the growth and development of the WNBA, it supported the hometown team more than any other franchise in the league. We're here to rekindle that legacy.' The bid also is supported by Michigan Gov. Gretchen Whitmer and Detroit Mayor Mike Duggan. The bid includes a plan to build a dedicated practice facility and headquarters open 24 hours a day for the WNBA team. That facility would include courts, locker room, workout facilities and office and lounge space. A sports center open to the public also would be developed. 'Michiganders are fired up,' Whitmer said. 'Our passion for our teams and players is unmatched, our commitment to our communities remains unwavering, and our vision for women's sports is crystal clear. My administration stands ready to support this franchise's success.' The WNBA is adding three expansion teams in the next two seasons with Golden State, Portland and Toronto joining to boost the league's franchises to 15. Commissioner Cathy Engelbert has said the WNBA would like to add a 16th team by the 2028 season. Cleveland announced its bid to bring a WNBA franchise back to Ohio last November. Nashville announced a bid Thursday. The team would be called the Tennessee Summitt to honor the legacy of the late Pat Summitt and three-time WNBA champ Candace Parker is in the investor group along with Pro Football Hall of Fame quarterback Peyton Manning and the chairman of the NHL's Nashville Predators. That bid also includes a dedicated practice facility. ___ AP WNBA: recommended in this topic
