Connect with us

Markets

Taiwan hopes delayed F-16s begin arriving by finish of this yr

Published

on

© Reuters. FILE PHOTO: A pilot and Air Force soldier run towards a F-16V fighter jet for an evening take off as part of a combat readiness mission at the airbase in Hualien, Taiwan, August 17, 2022. REUTERS/Ann Wang/File Photo

By Ben Blanchard

TAIPEI (Reuters) -Taiwan’s defence ministry stated on Friday it was aiming for supply of the primary new F-16V fighter jets by the top of this yr, blaming “acute fluctuations” within the worldwide scenario for delays within the island receiving them.

The US in 2019 authorised an $8 billion sale of Lockheed Martin (NYSE:) F-16 fighter jets to Taiwan, a deal that may take the island’s F-16 fleet to greater than 200 jets, the most important in Asia, to strengthen its defences within the face of a stepped up risk from China, which views Taiwan as its personal.

Taiwan has been changing 141 F-16A/B jets into the F-16V sort and has ordered 66 new F-16Vs, which have superior avionics, weapons and radar programs to raised face down the Chinese language air power, together with its J-20 stealth fighter.

However Taiwan has complained of delays for the brand new F-16Vs, saying issues embody software program points.

In an replace on the deliveries, Taiwan’s defence ministry stated the primary batch of latest F-16Vs was meant to have been despatched within the third quarter of this yr.

“Due to acute fluctuations within the worldwide scenario, which have resulted in a compound impression comparable to delays in deliveries of some suppliers and changes to the U.S. meeting schedule, there was a partial adjustment in when they may go away the manufacturing facility,” it stated in an announcement.

The ministry will “try to finish the cargo of the primary plane within the fourth quarter”.

The air power will hold an in depth watch on the manufacturing schedule and make manufacturing facility visits with the intention to have the deliveries accomplished by the top of 2026, it added.

Lockheed Martin informed Reuters it was “grateful for the belief Taiwan has positioned in us throughout its F-16 programmes”.

“In partnership with the U.S. authorities, Lockheed Martin is targeted on growing F-16 capabilities,” it added.

The U.S. State Division stated lengthy supply dates weren’t a Taiwan-specific problem.

“The U.S. authorities is actively reviewing our insurance policies and processes to make sure that we transfer arms gross sales circumstances as shortly as doable, significantly for Taiwan,” it stated in an announcement.

Taiwan has reported delays to U.S. weapons deliveries comparable to Stinger anti-aircraft missiles since 2022, as producers give provides to Ukraine to assist it battle Russian forces, and the problem has involved U.S. lawmakers.

Taiwan’s air power is well-trained however a few of its fighter jets are getting older, together with its French-made fleet of Mirage 2000s first acquired in 1997. One crashed into the ocean this week throughout a coaching train.

The air power has repeatedly scrambled to see off Chinese language army plane flying close to the island prior to now 5 years.

Taiwan’s authorities rejects China’s sovereignty claims.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Markets

Why Plug Energy Inventory Plunged on Friday After an Early Week Rally

Published

on

Plug Energy (NASDAQ: PLUG) inventory surged by as a lot as 15.3% at its highest level in buying and selling this week earlier than reversing course on Thursday. And on Friday morning, shares of the hydrogen and gasoline cell maker crashed by greater than 8% and have been buying and selling 3.5% decrease for the week via 11 a.m. ET, in response to knowledge offered by .

Plug Energy introduced a brand new technique this week that might usher in some money, however a recent growth in one other a part of the clear power business dampened investor sentiment and despatched the tumbling once more.

Why Plug Energy inventory rose beforehand

This week, Plug Energy introduced it was initiating a brand new gear leasing platform that might assist it elevate $150 million within the mid-to-near time period. To begin, it signed three sale and leaseback transactions price $44 million with GTL Leasing, a lessor of hydrogen storage and transport gear. Personal fairness agency Antin Infrastructure Companions owns a majority stake in GTL.

Beneath such transactions, Plug Energy can obtain lump sum funds for gear akin to trailers and storage tanks whereas retaining the precise to make use of them, giving it speedy entry to funds it will possibly use to cowl its day-to-day operational bills.

Plug Energy inventory may stay risky

Plug Energy is dealing with an ongoing money crunch , and even issued a going concern warning final yr. Its new leasing platform may enable it to lift some money whereas it tries to safe greater funding, akin to a mortgage from the Division of Vitality. Plug Energy has a conditional mortgage assure of as much as $1.66 billion, and says it’s working carefully with the division to finalize the mortgage.

This week, Plug Energy additionally secured an order for 25 megawatts of electrolyzers from Castellon Inexperienced Hydrogen, a three way partnership between power large BP and Spain-based utility operator Iberdrola. Whereas this order alerts a rising curiosity in inexperienced hydrogen, different clear power sources are getting much more consideration.

On Friday, utility large Constellation Vitality introduced plans to restart a shuttered nuclear reactor in Pennsylvania after signing an enormous contract to supply carbon-free electrical energy to tech large Microsoft‘s knowledge facilities. The deal might be a harbinger of extra alternatives to return for nuclear energy, which is cheaper to supply, making it even more durable for firms like Plug Energy to make a compelling case for alternate options akin to inexperienced hydrogen.

Do you have to make investments $1,000 in Plug Energy proper now?

Before you purchase inventory in Plug Energy, take into account this:

The Motley Idiot Inventory Advisor analyst staff simply recognized what they consider are the  for traders to purchase now… and Plug Energy wasn’t one in every of them. The ten shares that made the minimize may produce monster returns within the coming years.

Think about when Nvidia made this checklist on April 15, 2005… if you happen to invested $1,000 on the time of our suggestion, you’d have $722,320!*

Inventory Advisor offers traders with an easy-to-follow blueprint for achievement, together with steering on constructing a portfolio, common updates from analysts, and two new inventory picks every month. The Inventory Advisor service has greater than quadrupled the return of S&P 500 since 2002*.

*Inventory Advisor returns as of September 16, 2024

has no place in any of the shares talked about. The Motley Idiot has positions in and recommends BP, Constellation Vitality, and Microsoft. The Motley Idiot recommends the next choices: lengthy January 2026 $395 calls on Microsoft and quick January 2026 $405 calls on Microsoft. The Motley Idiot has a .

was initially printed by The Motley Idiot

Continue Reading

Markets

Darden Eating places: Bernstein sees restricted upside, Evercore ISI bullish

Published

on

Darden Eating places (NYSE:) has drawn combined views from analysts on Friday, with Evercore ISI upgrading the inventory whereas Bernstein takes a extra cautious stance.

Evercore ISI upgraded Darden to Outperform from In Line, elevating the value goal from $165 to $205, citing elevated confidence in gross sales progress, significantly at Olive Backyard, which makes up 45% of the corporate’s gross sales.

Evercore ISI highlighted new initiatives akin to extra price-point promoting, limited-time affords (LTOs), and the mixing of Uber Eats as key drivers.

“We imagine the corporate will proceed to concentrate on worthwhile gross sales progress permitting EBITDA margin to enhance over the subsequent 12 months,” Evercore ISI mentioned, additionally elevating its fiscal 12 months 2026 same-store gross sales (SSS) progress estimate to three% from 1.5%.

“We additionally stay assured on Lengthy Horn (25% of gross sales) because it continues to realize share,” added the agency.

In distinction, Bernstein downgraded Darden to Market-Carry out from Outperform, citing restricted upside and continued macroeconomic pressures affecting client spending.

The agency famous that Olive Backyard’s same-store gross sales declined by 2.9% within the first quarter of fiscal 12 months 2025, marking the chain’s largest setback in over a decade, excluding pandemic disruptions.

Bernstein famous that whereas administration has shifted to a extra aggressive technique, together with LTOs and price-point promoting, they see potential long-term challenges: “We notice that these makes an attempt could also be masking extra enduring pressures than we had anticipated.”

“With the low frequency within the classes by which Darden operates, we count on it would take a while for customers to note the modifications,” they added.

Bernstein stays involved about labor inflation dangers and the potential affect of tighter immigration controls, which may shrink the labor pool.

Regardless of these considerations, they count on Darden to satisfy its fiscal 12 months 2025 steering of 6-8% EPS progress however revised their value goal all the way down to $180 from $190, noting that the current inventory rally has balanced the risk-reward profile.

Continue Reading

Markets

Boeing 'In A Loss of life Spiral Of Their Personal Making' In accordance To A Advisor As 'Workers Already Have A Dim View Of Administration'

Published

on

Boeing 'In A Death Spiral Of Their Own Making' According To A Consultant As 'Employees Already Have A Dim View Of Management'

Boeing ‘In A Loss of life Spiral Of Their Personal Making’ In accordance To A Advisor As ‘Workers Already Have A Dim View Of Administration’

Boeing is dealing with one of many hardest instances in its historical past. Lately, 33,000 union after rejecting the corporate’s newest contract provide. The strike has solely added to the corporate’s rising checklist of issues, such because the 737 Max manufacturing points, monetary losses and sinking worker morale.

Do not Miss:

The union members, most of them based mostly in Washington state, turned down a proposal to lift wages by 25% over 4 years, as they have been . Boeing’s inventory has dropped by over 6% as a result of rejection and analysts are warning that ranking companies could decrease the corporate’s debt to junk standing.

Boeing’s new CEO, is coming into a turbulent time after lately buying a $4.1 million house in Seattle. He assumed the place following the corporate’s staggering $1.4 billion loss within the 2024 second quarter. Now, he faces a strike that might jeopardize Boeing’s probabilities of restoration.

Trending: The startup behind White Fortress’s favourite Robotic Fry Prepare dinner broadcasts a next-generation quick meals robotic –

To handle these issues, Boeing’s CFO Brian West has devised , akin to stopping new hiring, halting raises, lowering pointless journey and even contemplating short-term layoffs. Boeing additionally plans to spend much less on suppliers and cease shopping for its personal planes, such because the 737 Max, 767 and 777 fashions.

Whereas these measures may assist Boeing lower your expenses within the brief time period, specialists like Jason Walker, a marketing consultant from Thrive HR Consulting, warn they might make issues worse in the long term, as they might additional harm worker morale, which is already low. Walker famous, “Workers have already got a dim view of administration and that is simply going to make it worse. I believe they’re actually in a loss of life spiral of their very own making.”

Trending: Throughout market downturns, traders are studying that not like equities, these

The Boeing administration is dashing to succeed in a settlement with the union and forestall extra hurt. West has indicated that he desires to return to the negotiating desk and Ortberg actively participates within the discussions.

An aerospace advisor, James Darcy, cautioned that though resolving the strike is important for Boeing to renew plane deliveries and improve money stream, the settlement circumstances “will do nothing to assist” the corporate’s long-term monetary well being.

Boeing is presently in a weak scenario. For one of many greatest aerospace corporations on this planet, the longer term seems tough, given the mounting distrust between administration and staff, huge monetary losses and an unclear plan of action. It stays to be seen if Boeing can bounce again and win again the belief of each its workers and purchasers.

Learn Subsequent:

UNLOCKED: 5 NEW TRADES EVERY WEEK. , plus limitless entry to cutting-edge instruments and techniques to achieve an edge within the markets.

Get the most recent inventory evaluation from Benzinga?

This text initially appeared on

© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.

Continue Reading

Trending