Latest news with #conglomerate
Yahoo
2 hours ago
- Business
- Yahoo
Billionaire Mario Gabelli Says He's Bullish on This ‘Extraordinarily' Cheap Stock
Textron Inc (NYSE:TXT) is one of the . Mario Gabelli of GAMCO said in a recent program on CNBC that he likes industrial conglomerate Textron Inc (NYSE:TXT) shares. 'Textron Inc (NYSE:TXT) is important because there's 180 million shares. Scott Donnelly, who runs it, has done a terrific job. And basically, they're going to earn a little over $6 this year on a non-GAAP basis, a little less than that on a GAAP basis. And the stock has Bell Helicopter. They got replacements for the Blackhawk, but they also have Cessna. And there's a backlog for the Longitude and the Latitude. And both of those will give them a tailwind, so to speak. And at $85 with that kind of earnings, that is an extraordinarily cheap stock.' Mario Gabelli of GAMCO Investors Textron shares are up 13% this year. The company makes most o fits revenue from aircraft and helicopter sales, maintenance, military contracts, and industrial products. Analysts expect Textron sales and margins to improve this year amid new defense and aviation programs. About 75% of its revenue comes from commercial clients and 25% from US government contracts. While we acknowledge the potential of TXT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. 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
Bloomberg
a day ago
- Business
- Bloomberg
Saudi Arabia's Rawabi Taps Alvarez & Marsal for Strategic Review
Saudi Arabia's Rawabi Holding, a sprawling conglomerate with interests spanning energy, industrial services and real estate, is working with Alvarez & Marsal on a strategic review, according to people familiar with the matter. The advisory firm is assisting Rawabi on options to free up liquidity, the people said, requesting anonymity to discuss confidential information.
Irish Times
2 days ago
- Business
- Irish Times
DCC applies for court approval for €1bn capital reduction
Stock market-listed conglomerate DCC has applied to the Commercial Court for approval of a reduction in its share capital by nearly €1 billion following the sale of its healthcare division. DCC plc is the parent of DCC Energy, which specialises in the sale, marketing and distribution of clean energy solutions, and of DCC Technology, a specialist distribution partner for global technology and appliance brands and customers. It was also the parent of DCC Healthcare, a provider of high quality medical devices and other healthcare products, and also partners with brands to create and manufacture health and beauty products, until it decided to sell that division. A large proportion of the income of DCC group, which is London-listed and Dublin-headquartered, is generated in the UK. READ MORE In November, DCC announced it would focus on the energy division and began preparations for the sale of the healthcare division, chief executive Donal Murphy said in an affidavit. In April, an agreement was entered into to sell the division and in May it announced it intended to return £800 million (€923 million) to shareholders, he said, through a reduction in share capital. Mr Murphy said the capital reduction and in seeking to have it entered into the fast track Commercial Court, are a step in the larger process of focusing the business of the company on the energy sector and deploying the proceeds of the sale of the healthcare division for the benefit of the shareholders. It is envisaged the transaction will be completed by September. Lyndon MacCann SC, who made the application to Mr Justice Mark Sanfey on Monday, said he was looking for a date for hearing of the matter during the court vacation in August. The judge said while it was not normal to deal with such applications in August, he understood the urgency of the matter. He said he would be writing up judgments in August and he would hear it during that week.
Yahoo
5 days ago
- Business
- Yahoo
3M (MMM) Stock Trades Down, Here Is Why
What Happened? Shares of industrial conglomerate 3M (NYSE:MMM) fell 4.2% in the afternoon session after the company reported second-quarter earnings that, despite beating expectations on an adjusted basis, revealed underlying concerns for investors. The company posted strong adjusted second-quarter results, beating analyst estimates for both earnings and revenue, and even raised its full-year profit forecast. 3M reported adjusted earnings per share of $2.16, ahead of the $2.01 consensus, and raised its full-year guidance to a range of $7.75 to $8.00 per share. However, investors appeared to focus on less favorable details within the report. The company's results under Generally Accepted Accounting Principles (GAAP) showed a 38% year-over-year decrease in earnings per share. Furthermore, 3M reported a negative operating cash flow of $1.0 billion for the quarter. This was primarily driven by $2.2 billion in net after-tax payments for significant litigation costs related to Public Water Systems and Combat Arms Earplugs settlements. Renewed worries about the impact of global trade tariffs also seemed to cloud the otherwise positive report for investors. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy 3M? Access our full analysis report here, it's free. What Is The Market Telling Us 3M's shares are not very volatile and have only had 7 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 12 months ago when the stock gained 17.6% on the news that the company reported strong second-quarter earnings. 3M beat analysts' revenue, operating profit, and EPS expectations. That the company raised full year EPS guidance was also a great sign. Overall, this was a really good quarter that should please shareholders. 3M is up 17.1% since the beginning of the year, and at $151.85 per share, it is trading close to its 52-week high of $159.04 from July 2025. Investors who bought $1,000 worth of 3M's shares 5 years ago would now be looking at an investment worth $971.09. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Sign in to access your portfolio
Bloomberg
5 days ago
- Business
- Bloomberg
Ambani's Reliance Beats Profit Estimate on One-Time Gains
Reliance Industries Ltd. 's quarterly profit beat estimates as the billionaire Mukesh Ambani-led conglomerate benefited from a massive jump in one-off gains. Net income rose 78% to 269.9 billion rupees ($3.1 billion) in the three months ended June 30, according to an exchange filing Friday. That surpassed the 200.59 billion rupees average of analyst estimates compiled by Bloomberg.
