Norway's wealth fund sticks to investments in renewables despite market setbacks
Norway's $1.8 trillion wealth fund, the world's largest, remains committed to investments in renewable assets despite recent market setbacks and will seek opportunities in both the listed and private markets, a senior fund official said on Thursday. Renewable energy assets have significantly underperformed in the market in 2024, with some previous investor favourites such as Danish offshore wind developer Orsted taking big hits to their valuations. The fund's own investments in unlisted renewable energy infrastructure, which includes stakes in offshore wind farms with Orsted and in Spanish utility Iberdrola's renewables portfolio, posted on Wednesday a negative return of -10% for 2024.
Hearing-Aid Maker Transforms Into Unlikely AI Stock Winner
(Bloomberg) -- Hearing-aid makers have become one of the stock market’s less likely artificial intelligence plays.Most Read from BloombergManhattan’s Morning Commute Time Drops With New Congestion TollTrump's Federal Funding Pause Threatens State Financials Housing Aid Uncertain After Trump’s Spending Freeze MemoUS Students’ Reading Scores Drop to Worst in More Than 20 YearsTexas HOA Charged With Discrimination for Banning Section 8 RentersShares of Sonova Holding AG, a Swiss hearing-aid maker,
Wall Street expects airlines to see sustained demand for travel this year
Airlines expect a strong tailwind from travel demand in 2025, even though carriers could be hedged in by capacity issues. United Airlines, Delta Air Lines and several other U.S.-based carriers have all given investors strong forecasts for the year. Wall Street expects major airlines to increase revenue and profit in 2025.
Defense Stocks Rise After Germany’s €2.5 Billion Weapons Order
(Bloomberg) -- Shares in European defense companies are hitting new records after Germany’s lawmakers approved about €2.5 billion ($2.6 billion) worth of weapons and equipment orders for the armed forces.Most Read from BloombergManhattan’s Morning Commute Time Drops With New Congestion TollTrump's Federal Funding Pause Threatens State Financials Housing Aid Uncertain After Trump’s Spending Freeze MemoUS Students’ Reading Scores Drop to Worst in More Than 20 YearsTexas HOA Charged With Discrimina
United Parcel Service (NYSE:UPS) Reports Q4 In Line With Expectations But Stock Drops
Parcel delivery company UPS (NYSE:UPS) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 1.5% year on year to $25.3 billion. On the other hand, the company’s full-year revenue guidance of $89 billion at the midpoint came in 6.3% below analysts’ estimates. Its non-GAAP profit of $2.75 per share was 8.6% above analysts’ consensus estimates.
