Latest news for Enbridge (OTC:ENBFF) Stock

Enbridge owns extensive midstream assets that transport hydrocarbons across the us and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company. The firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

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Enbridge Inc

The agreement will see the parties develop regional air mobility routes that serve key locations across Lombardy. The first route to be developed will connect Milan Malpensa Airport &ndash; the largest international airport in northern Italy, which transported over 26 million travellers last year &ndash; and Milan city centre.
The project formalised by the MoU will allow for the establishment of a network of attractive routes for the operation of the Lilium Jet and other eVTOL aircraft, enhancing accessibility and connectivity for regional air mobility. It will facilitate the fast and efficient movement of people and will be instrumental in delivering some of the first premium eVTOL flights within Europe

LILM

Lilium, SEA Milan Airports, And Skyports To Develop eVTOL Network In Northern Italy, Enhancing Regional Air Mobility

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) shares received a <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">nice price target bump </a>a week ahead of the software giant&#8217;s quarterly earnings release.
The Microsoft Analyst: Piper Sandler analyst Brent Bracelin reiterated an Overweight rating on Microsoft shares and upped the price target from $465 to $485. The updated price target suggests the stock has about 10% upside potential.
Microsoft took 13 years (from fiscal 2010 to 2023) to achieve a $100 billion annual revenue run-rate for its Cloud services business but the next $100 billion cloud revenue could come in just three years, said Bracelin in a note. Over the 13-years, capex and lease exceeded $176 billion, he noted. The critical data center investments should, therefore, be compressed to support a potential doubling of Microsoft Cloud revenue to $200 billion+ exiting fiscal year 2026, he said.
&#8220;Growth investors should look beyond near-term fears of an AI overbuild with the lens of a broader cloud transformation still underway that could help sustain double-digit top-line and bottom-line growth through 2030,&#8221; the analyst said. He expects the Cloud mix, aided by AI, to expand to 63% by fiscal year 2026, up from 53% today and sharply higher than the 10% in fiscal 2016.
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39822984/whats-in-store-for-microsoft-in-q4-analyst-sees-azure-strength-double-digit-revenue">Azure, which accounts for 33% of sales,</a> is approaching a $85 billion run-rate, with growth exceeding 30%, Bracelin said. The analyst expects June quarter Azure revenue growth of 32% on a constant currency basis compared to the 30-31% guidance, with AI contributing at least seven percentage points of growth.
The analyst noted that a majority of Microsoft AI shows up in IaaS rather than SaaS, with the proportion at 95% vs. 5%. He expects capex and lease to surpass $19 billion in the June quarter.
As such, the analyst increased his calendar year 2025 earnings per share estimate by 17 cents on slightly higher growth assumptions, and the calendar year 2025 P/E multiple from 33 times to 34 times on strong cloud momentum. The upward adjustment to the price target is to give effect to the revisions to the earnings estimate and the P/E multiple, he added.
Microsoft is scheduled to report its fiscal year 2024 fourth-quarter earnings after the market closes on Tuesday, July 30. Analysts, on average, expect the company to report earnings per share of $2.93 and revenue of $64.35 billion. This compares to the year-ago earnings of $2.69 per share and revenue of $56.19 billion.
Microsoft Price Action: Microsoft shares ended Monday&#8217;s session up 1.33% to $442.94, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data. </a>The stock has gained over 18% year-to-date.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39874391/tesla-alphabet-gm-ford-lead-earnings-parade-this-week-as-market-struggles-to-sustain-the-summer-">Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally</a></li>
</ul>
Photo by Volodymyr Kyrylyuk on Shutterstock

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MSFT

Microsoft Stock Has Further Room To Run, Says Analyst, As Software Giant Remains On Track To Hit $200B Cloud Revenue In 2 Years

Prominent venture capitalist Naval Ravikant hailed Tesla Inc. CEO Elon Musk as the &#8220;real winner,&#8221; with news of President Joe Biden dropping out from the 2024 election <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">breaking out on X</a> ahead of other platforms.
What Happened: Ravikant, a well-known venture capitalist, made the statement on X, a social media platform. He said, &#8220;The real winner in the election is Elon Musk.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The real winner in the election is Elon Musk.
&mdash; Naval (@naval) <a href="https://twitter.com/naval/status/1815544800017543208?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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He also responded to a comment about Trump&#8217;s potential return to X, saying, &#8220;Trump's continuing commitment to Truth Social is costing him dearly.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump's continuing commitment to Truth Social is costing him dearly.
&mdash; Naval (@naval) <a href="https://twitter.com/naval/status/1815595662576099632?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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This comment comes in the wake of several significant events, including Tesla&#8217;s earnings report, <a href="https://www.benzinga.com/news/24/07/39759980/biden-vs-trump-elon-musk-reportedly-donates-sizable-amount-to-ex-presidents-campaign-expert-calls-it">Musk&#8217;s endorsement of Trump</a>, and Ravikant&#8217;s previous support of Musk during a contentious debate over his $56 billion pay package.
See Also: <a href="https://www.benzinga.com/markets/24/07/39877083/elon-musk-may-have-endorsed-trump-but-tesla-would-have-done-even-worse-without-bidens-7-5k-ev-tax-cr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk May Have Endorsed Trump, But Tesla Would Have Done &#8216;Even Worse&#8217; Without Biden&#8217;s $7.5K EV Tax Credit, Says Fund Manager</a>
Why It Matters: This statement from Ravikant comes after a series of events that have put Musk in the spotlight. Earlier in June, Ravikant <a href="https://www.benzinga.com/markets/equities/24/06/39246807/investor-naval-ravikant-threatens-to-sell-all-tesla-holdings-if-ceo-musks-pay-plan-is-rejected-b">threatened to sell all his Tesla holdings</a> if Musk&#8217;s $56 billion compensation package was not approved. He also pledged to buy more shares if the package was passed.
After a failed assassination attempt on Trump, Musk endorsed the former president, <a href="https://www.benzinga.com/news/24/07/39873661/elon-musk-is-as-smart-as-you-get-says-trump-as-ex-president-tones-down-ev-rhetoric">who then praised Musk</a> during a campaign speech in Michigan, calling him &#8220;as smart as you get.&#8221; Trump also softened his stance on electric vehicles, aligning more closely with Musk&#8217;s interests. 
On Sunday, Biden announced his decision to drop out of the presidential race in a letter posted on his official X account, after growing pressure from colleagues in the Democratic party and <a href="https://www.benzinga.com/government/24/07/39852736/exclusive-biden-victory-fund-suspends-donor-calls-pause-calling-indefinitely-as-of-tonight" target="_blank" rel="noreferrer noopener">big-name fundraisers</a>. 
Recently, Biden tested positive for COVID-19 and took the <a href="https://www.benzinga.com/24/07/39829417/biden-gets-covid-19-takes-a-fiesty-dig-at-tesla-ceo-im-sick-of-elon-musk-and-his-rich-buddies-trying">opportunity to criticize Musk</a> and other billionaires for allegedly funding Trump&#8217;s campaign. Biden&#8217;s comments highlight the ongoing political tension surrounding Musk&#8217;s involvement in the election.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39870083/black-swan-investor-says-greatest-bubble-in-human-history-is-on-the-verge-of-bursting-calls-stoc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Black-Swan Investor Says &#8216;Greatest Bubble In Human History&#8217; Is On The Verge Of Bursting, Calls Stocks &#8216;Mega-Tinderbox-Time Bomb&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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TSLA

Naval Ravikant Hails Elon Musk As 'Real Winner In The Election' As Joe Biden Drops Out, Says Trump Staying On Truth Social Is 'Costing Him Dearly'

The Company expects to close on an additional&nbsp;$200 million&nbsp;of mortgage warehouse loans in the near future, once necessary customer approvals are received.&nbsp; Upon closing, the Company expects that the transaction will add approximately 70 basis points to its CET1 ratio. &nbsp;

NYCB

Reported Earlier, New York Community Bancorp Strengthens Financial Position With $5.9B Loan Sale to JPMorgan Chase Bank

With more than 24 years of experience in&nbsp;Mexico, Banco Latinoamericano de Comercio Exterior (Bladex) is moving forward with its strategy to deepen its presence in the country. The expansion of its new offices, the strengthening of its commercial team and its annual disbursements of almost US$5&nbsp;billion position Bladex as a key player in the growth of Mexican companies. Bladex has been listed on the New York Stock Exchange since 1992 and has been one of the most active issuers on the Mexican Stock Exchange for more than 12 years.

Reported Earlier, Bladex Expands Mexican Presence With New Offices And $5B In Annual Disbursements

As indicated in the letter, the Company has the right to request that NYSE&#39;s delisting determination be reviewed by a Committee of the Board of Directors of NYSE, which the Company intends to pursue.

TRTL

Reported Earlier, TortoiseEcofin Acquisition Corp. III Receives Delisting Notice From NYSE, Securities To Move To OTC Markets

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, with the index moving to the &#8220;Greed&#8221; zone on Monday.
U.S. stocks closed higher on Monday, with the S&amp;P 500 recording its best day since June 5. The S&amp;P 500 rose 1.08% at 5,564.41, while the Nasdaq Composite climbed 1.58% at 18,007.57 during Monday's session. The Dow Jones closed higher by around 128 points to 40,415.44.
President Joe Biden, on Sunday, dropped his bid for a second term in the White House.
NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares gained 4.8% on Monday, after dipping 8% last week. Crowdstrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) was the worst performer in the S&amp;P 500, dipping around 13.5% on Monday. Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) shares fell around 6% on Monday after it reported fiscal second-quarter results.
On the economic data front, the Chicago Fed National Activity index <a href="https://www.benzinga.com/news/earnings/24/07/39884586/nasdaq-gains-1-chicago-fed-national-activity-falls-in-june">fell to 0.05 for June</a>, versus the previous reading of 0.23. However, analysts were expecting a reading of -0.09.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, information technology, and industrial stocks recording the biggest gains on Monday. However, energy and consumer staples stocks bucked the overall market trend, closing the session lower.
To recall, the S&amp;P 500 fell 1.97%, while the Nasdaq dipped 3.65% last week, recording their biggest weekly losses since April. However, the Dow gained 0.72% during the week.
Investors are awaiting earnings results from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) and General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 55.9, the index moved to the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 50.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39881674/top-4-tech-stocks-that-may-explode-in-july">Top 4 Tech Stocks That May Explode In July</a></li>
</ul>

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CRWD

GOOG

S&P 500 Notches Best Day Since June As Investor Sentiment Improves: Fear Index Moves To 'Greed' Zone

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Enbridge

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Latest news for Enbridge (OTC:ENBFF) Stock

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