Janus Henderson U.S. Sustainable Equity ETF (ARCA: SSPX)

Latest news for Janus Henderson U.S. Sustainable Equity ETF (ARCA:SSPX)

Technology

Industrials

Healthcare

Financial Services

Communication Services

Consumer Cyclical

Real Estate

Other

Consumer Defensive

The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities that are economically tied to the U.S. The Fund seeks to invest in companies whose products and services are considered by Janus Capital as contributing to positive environmental or social change and sustainable economic development, including those that are strategically aligned with environmental and social megatrends such as climate change, resource constraints, growing populations, and aging populations. A security is deemed to be economically tied to the U.S. if one or more of the following tests are met: (i) the company is organized in, or its primary business office or principal trading market of its equity is located in the U.S., (ii) a majority of the companys revenues are derived from the U.S. or (iii) a majority of the companys assets are located in the U.S. The Fund generally invests in a core group of 30‘50 equity securities, which consist primarily of common stocks, but may also include other types of instruments, such as depository receipts and warrants. The Fund may also invest in equity securities of real estate-related companies, including real estate investment trusts (REITs) and similar REIT-like entities. The Fund will invest primarily in larger, well-established companies but may also invest in mid‘ and small‘sized companies. The Funds uninvested assets may be held in cash, cash equivalents, and/or affiliated or unaffiliated exchange-traded funds

Microsoft Corp

Nvidia Corp.

Progressive Corp.

T-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558

Westinghouse Air Brake Technologies Corp.

Humana Inc.

Icon Plc

Mastercard Inc. Cl. A

Mckesson Corp.

Janus Henderson US Sustainable Equity ETF

WAB-OG-4_0 copy

Equities

Large Cap

News

EFRA

SSPX

Westinghouse Air Brake Technologies Corp (WAB) to acquire Evident&#39;s Inspection Technologies division for $1.78B, expected to expand WAB&#39;s digital intelligence business and boost shareholder value.

Wabtec Boosts Digital Solutions Business with $1.78 Billion Strategic Buy

Earnings

Guidance

Dividends

Buybacks

Movers

Wabtec reported Q2 FY24 results, with sales growth of 9.8% and adjusted EPS of $1.96 (+39.0% YoY). FY24 guidance raised to $7.20-$7.50.

Wabtec Reports Solid Gains In Freight And Transit, Raises EPS Outlook Despite Slight Backlog Decline

Janus Henderson U.S. Sustainable Equity ETF

The Company expects to meet its net revenue, adjusted EBITDA, and adjusted diluted EPS guidance, exceed its operating cash flow guidance, and exceed (incur less than) its capital expenditures guidance. The Company also intends to announce that it estimates its net leverage as of December 31, 2024 to be approximately 4x.

AMRX

Amneal Pharmaceuticals Expects To Meet Its Net Revenue, Adjusted EBITDA, And Adjusted EPS Guidance, Exceed Its Operating Cash Flow Guidance - Filing

Needham analyst James Ricchiuti reiterates Advanced Energy Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEIS#NASDAQ">AEIS</a>) with a Buy and maintains $145 price target.

Price Target

Reiteration

Analyst Ratings

AEIS

Needham Reiterates Buy on Advanced Energy Indus, Maintains $145 Price Target

JP Morgan analyst Michael Rehaut maintains KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) with a Neutral and lowers the price target from $82 to $74.5.

JP Morgan Maintains Neutral on KB Home, Lowers Price Target to $74.5

Needham analyst James Ricchiuti reiterates 3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) from Hold to Hold.

Needham Reiterates Hold on 3D Systo Hold

Compass Point analyst Floris Van Dijkum initiates coverage on Curbline Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURB#NYSE">CURB</a>) with a Neutral rating and announces Price Target of $24.

Initiation

CURB

Compass Point Initiates Coverage On Curbline Properties with Neutral Rating, Announces Price Target of $24

Needham analyst James Ricchiuti reiterates MKS Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKSI#NASDAQ">MKSI</a>) with a Buy and maintains $156 price target.

MKSI

Needham Reiterates Buy on MKS Instruments, Maintains $156 Price Target

Needham analyst John Todaro reiterates Applied Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) with a Buy and maintains $11 price target.

APLD

Needham Reiterates Buy on Applied Digital, Maintains $11 Price Target

CIBC analyst Hamir Patel upgrades Weyerhaeuser (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WY#NYSE">WY</a>) from Neutral to Outperformer and announces $35 price target.

Upgrades

CIBC Upgrades Weyerhaeuser to Outperformer, Announces $35 Price Target

For the twelve months ended December 31, 2024, Unity Bancorp reported net income of $41.5 million, or $4.06 per diluted share, compared to net income of $39.7 million, or $3.84 per diluted share, for the twelve months ended December 31, 2023. This represents a 4.4% increase net income and a 5.7% increase in net income per diluted share.

Unity Bancorp Reports Q4 EPS Of $1.13 Compared With $1.07 YoY, Which Represents 1.83% ROA And 15.77% ROE

GXO Logistics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXO#NYSE">GXO</a>) teamed up with The Perfume Shop, one of the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42995528/the-perfume-shop-partners-with-gxo-for-high-street-deliveries" rel="noreferrer noopener">largest fragrance retailers in the U.K</a>.
The deal entails GXO providing weekly deliveries to over 200 stores via its shared transport network.
Notably, GXO&#8217;s shared transport network consolidates deliveries for multiple retailers, significantly reducing vehicle trips to crowded city centers.
Each vehicle typically carries goods from five different customers and stops at 8 to 10 locations, improving efficiency compared to dedicated delivery services.
Shared transport can cut CO2 emissions by up to 5kg per litre when compared to underutilized dedicated vehicles.
Additionally, this model helps reduce urban congestion, aligning with city policies aimed at lowering emissions and promoting sustainable transportation.
Last week, the company inked a long-term partnership <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42894129/gxo-signs-a-new-partnership-with-calliope-in-italy" rel="noreferrer noopener">with </a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42894129/gxo-signs-a-new-partnership-with-calliope-in-italy" rel="noreferrer noopener">Calliope</a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42894129/gxo-signs-a-new-partnership-with-calliope-in-italy" rel="noreferrer noopener"> in Italy</a>.
The contract comprises providing warehouse management, e-fulfillment, returns handling, and value-added services like labeling and quality control.
Investors can gain exposure to the stock via Tidal ETF Trust Aztlan North America Nearshoring Stock Selection ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRSH#NYSE">NRSH</a>) and Invesco S&amp;P Spin-Off ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSD#NYSE">CSD</a>).
Price Action: GXO shares closed higher by 1.59% at $43.55 on Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42994950" target="_blank" rel="noreferrer noopener">Nippon Steel Eyes Trump Administration To Revive $15B US Steel Deal Blocked By Biden: &#8216;We&#8217;ll Do Whatever It Takes&#8217;</a></li>
</ul>
Image via Shutterstock.

Mid Cap

Contracts

NRSH

GXO Logistics Partners with The Perfume Shop For Sustainable Deliveries Across 200 UK Stores: Details

Telsey Advisory Group analyst Cristina Fernandez maintains On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) with a Outperform and maintains $67 price target.

ONON

Telsey Advisory Group Maintains Outperform on On Holding, Maintains $67 Price Target

U.S. stock futures advanced on Wednesday following Tuesday&#8217;s mixed close. Futures of all four major indices rose in premarket trade.
Traders await the December Consumer Price Index will provide fresh insights into inflation&#8217;s trajectory, potentially influencing the Federal Reserve's policy stance amid mounting uncertainty over interest rates.
The headline inflation rate is <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42988894/all-eyes-on-december-inflation-betting-odds-signal-risk-of-fed-struggling-to-tame">projected </a>to rise 2.9% year-over-year, according to TradingEconomics, marking an increase from November&#8217;s 2.7% pace. On a monthly basis, headline inflation is expected to grow by 0.3%, maintaining the same pace as the prior month. 
Amid rotation, technology stocks dragged the Nasdaq down on Tuesday as well, whereas Dow Jones, which has the least number of tech constituents, rose over 220 points.
The 10-year and two-year Treasury notes yielded 4.77% and 4.35%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 97.3%, according <a href="http://The 10-year and two-year Treasury notes yielded 4.77% and 4.35%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 97.3%, according to CME Group's FedWatch tool. --https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.22%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.14%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.18%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.51%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.18% to $583.22&nbsp; and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.23% to $506.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
U.S. stock market closed with a mixed performance on Tuesday. The Dow Jones Industrial Average saw a significant intraday surge following the release of Producer Price Index data.
PPI increased by 0.2% in December, lower than the expected 0.3% and November&#8217;s 0.4% increase. This positive economic indicator boosted investor sentiment.
However, Big Tech stocks weighed heavily on the Nasdaq. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) experienced notable declines, contributing to the index&#8217;s negative performance.
Sectoral performance was varied across the S&amp;P 500. Utilities, materials, and financial sectors closed higher, while communication services and healthcare sectors underperformed.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.23%</td>
<td>19,044.39</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.11%</td>
<td>5,842.91</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.52%</td>
<td>42,518.28</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.13%</td>
<td>2,219.24</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
Howard Marks, a veteran investor who accurately predicted the dot-com bubble, warns of <a href="https://www.benzinga.com/markets/equities/25/01/42995814/billionaire-investor-who-predicted-the-dot-com-crash-25-years-ago-warns-of-another-market-storm-brewing-in-the-us">potential market risks</a> in his latest memo, &#8220;On Bubble Watch.&#8221; 
Marks highlights several concerning signs:
<ul>
<li>Over-optimism: High market exuberance and elevated S&amp;P 500 valuations.</li>
<li>AI Hype: Excessive enthusiasm for AI may be inflating valuations in the tech sector.</li>
<li>Magnificent 7 Reliance: Over-reliance on the continued success of a small group of dominant tech companies.</li>
<li>Index Investing Bias: Index fund inflows may be driving up prices regardless of intrinsic value.</li>
</ul>
While not definitively declaring a bubble, the co-founder and co-chairman of Oaktree Capital Management, Marks stresses the importance of acknowledging these risks. He acknowledges counterarguments, such as reasonable valuations for the &#8220;Magnificent Seven&#8221; and a moderate P/E ratio for the S&amp;P 500.
Ultimately, Marks concludes that the market may be expensive and slightly overheated, but it doesn&#8217;t yet display the irrational exuberance typical of a true bubble.
&#8220;The markets are likely to remain listless until Monday&#8217;s Inauguration Day, when President Donald Trump is expected to issue numerous Executive Orders which might muddy rather than clarify the economic outlook,&#8221; said Ed Yardeni of Yardeni Research in his QuickTakes.
Carson Research in their 2025 markets outlook, released on Tuesday said that they expect U.S. growth likely to outpace other global economies this year. They expect a 12-15% return from stocks.
&#8220;Looking at forward 12-month S&amp;P 500 earnings we once again see new highs, now at $271 per share, up from $225 in early 2023,&#8221; the report said.
&#8220;We are overweight equities and believe current forward earnings growth expectations remain supportive of stock gains given the economic backdrop.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
<ul>
<li>On Wednesday, the headline and core consumer price index for December and the Empire State manufacturing survey data for January will be announced at 8:30 a.m., ET.</li>
<li>Richmond Fed President Barkin will speak at 9:00 a.m., ET.</li>
<li>New York Fed President Williams will speak at 11:00 a.m., ET.</li>
<li>Chicago Fed President Goolsbee will speak at noon, ET.</li>
<li>On Thursday, initial jobless claims till Jan. 11 will be released at 8:30 a.m., ET.</li>
<li>December&#8217;s U.S. retail sales, import price index, and Philadelphia Fed manufacturing survey will be announced at 8:30 a.m., ET.</li>
<li>Business inventory data for November and the Home builder confidence index for January will be released at 10:00 a.m., ET.</li>
<li>On Friday, housing starts and building permits data for December will be released at 8:30 a.m., ET.</li>
<li>The industrial production and capacity utilization for December will be announced at 9:15 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) was up 0.21% in premarket on Wednesday as Wall Street expects it to report quarterly earnings of $4.04 per share on revenue of $41.56 billion before the opening bell.</li>
<li>Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) was up 2.39% ahead of its earnings before the opening bell. Analysts expect it to report quarterly earnings of $1.35 per share on revenue of $20.58 billion.</li>
<li>Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) was up 0.26% as analysts expect it to post quarterly earnings of $8.35 per share on revenue of $12.46 billion before the opening bell.</li>
<li>Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) was up 0.39% ahead of its earnings before the opening bell. Analysts expect it to post quarterly earnings of $1.24 per share on revenue of $19.51 billion. The company will release earnings before the markets open.</li>
<li>Applied Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) was down 6.21% despite beating the second-quarter revenue and EPS estimates on Tuesday.</li>
<li>Safe &amp; Green Holdings Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) was up 122.22% as it decided to acquire 100% of New Asia Holdings, including its subsidiaries Olenox Corp and Machfu.com.</li>
<li>Vision Marine Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) was up 46.43% after it filed its patent application with the United States Patent and Trademark Office for a Battery Authentication Encryption Technology.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.62% to hover around $76.84 per barrel.
The gold spot index was up by 1.04% to $2,710.19 per ounce. The Dollar Index was down 0.20% at 109.050 level.
Asian markets closed mixed on Wednesday as Hong Kong&#8217;s Hang Seng, and India&#8217;s S&amp;P BSE Sensex index advanced. Whereas, China&#8217;s CSI 300, Australia&#8217;s ASX 200, Japan&#8217;s Nikkei 225, and South Korea&#8217;s Kospi index fell. European markets were also trading higher.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/01/42967576/meta-investors-push-mark-zuckerberg-to-replace-72b-cash-with-bitcoin-to-combat-inflation-heres-what-it-means-for-investors">Meta Investors Push Mark Zuckerberg To Replace $72B Cash With Bitcoin To Combat Inflation: Here&#8217;s What It Means For Investors</a></li>
</ul>
Photo courtesy: Wikimedia

Analyst Color

Futures

Economics

Federal Reserve

Pre-Market Outlook

Markets

Trading Ideas

NVDA

SGBX

VMAR

US Stocks To Open Higher Ahead Of December Inflation Data: All Eyes On Banking Stocks As JPMorgan, Goldman, Citi, Wells Fargo Report Quarterly Earnings

PONY

Pony AI Says It Has Become First Company In China To Receive Approval For Robotruck Platooning Tests On Cross-provincial Highways Connecting Beijing, Tianjin, And Hebei Province, Marking A Milestone In Pursuit Of Large-scale Commercialization Of Autonomous Trucking

Asset Sales

Emeren Group Reports Sale Of 65 MWp Solar Project Portfolio To Trina Solar International System Business Unit; No Terms Disclosed

Telsey Advisory Group analyst Dana Telsey maintains ThredUp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDUP#NASDAQ">TDUP</a>) with a Outperform and raises the price target from $2 to $3.

TDUP

Telsey Advisory Group Maintains Outperform on ThredUp, Raises Price Target to $3

After the results from this research agreement are known, the parties will negotiate in good faith (and without obligation) whether to jointly develop or commercialise the outcomes of these research collaborations on commercially reasonable terms.
 &nbsp;

IMRN

Immuron Enters New Research Collaboration With Monash University

Marti Launches Safety Academy To Prioritize Rider Safety And Promote Sustainable Mobility

BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) reported quarterly earnings of $11.93 per share which beat the analyst consensus estimate of $11.21 by 6.42 percent. The company reported quarterly sales of $5.677 billion which beat the analyst consensus estimate of $5.531 billion by 2.63 percent. This is a 22.59 percent increase over sales of $4.631 billion the same period last year.

Earnings Beats

BlackRock Q4 2024 Adj. EPS $11.93 Beats $11.21 Estimate, Sales $5.677B Beat $5.531B Estimate

Telsey Advisory Group analyst Dana Telsey maintains Signet Jewelers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) with a Market Perform and lowers the price target from $87 to $65.

Telsey Advisory Group Maintains Market Perform on Signet Jewelers, Lowers Price Target to $65

SpaceX&#8217;s Falcon 9 on Wednesday launched two lunar landers to the Moon as it gears up to land humans back on the surface of the Moon in the future.
What Happened: The SpaceX rocket launched Firefly Space&#8216;s Blue Ghost and ispace&#8216;s Resilience lunar landers to the Moon from&nbsp;NASA's Kennedy Space Center in Florida. 
The Blue Ghost lander was deployed into a lunar transfer orbit following which it began its near 45-day journey to the Moon. Upon landing on the Moon, NASA&#8217;s payloads will conduct numerous science and technology demonstrations. 
The ispace Resilience lander, meanwhile, will go on a 4-5 month journey to the Moon after deployment. It will set down on the lunar surface and begin exploration activities. 
&#8220;Today's mission is our third launch to a lunar surface and just the first of several our Falcon fleet will launch for NASA's Commercial Lunar Payload Services (CLPS) program this year,&#8221; SpaceX said in a post on social media platform X.
The missions launched as part of NASA's CLPS program will serve as precursors to landing astronauts safely on the Moon in the future as part of the Artemis program, the company added. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">CLPS landers are designed to provide insights into the lunar surface environment and the ability to test technologies. The missions launched as part of this program are the precursors to landing Artemis astronauts safely on the Moon with Starship's Human Landing System, or HLS <a href="https://t.co/0Rs7EOPqXO">pic.twitter.com/0Rs7EOPqXO</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1879406151508648236?ref_src=twsrc%5Etfw">January 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: NASA is looking forward to landing humans back on the surface of the Moon after a gap of over 50 years with the help of a&nbsp;<a href="https://www.benzinga.com/24/11/42108681/spacex-shows-off-conceptual-version-of-starship-which-will-help-humans-land-back-on-moon-in-over-50-yrs" target="_blank" rel="noreferrer noopener">custom version of SpaceX&#8217;s Starship</a> launch vehicle under its Artemis program in September 2026.
The last time humans set foot on the Moon was in 1972&nbsp;<a href="https://www.benzinga.com/news/24/01/36692749/just-a-worse-version-of-apollo-elon-musk-baffled-by-nasa-veterans-push-to-ditch-spacex-blue-origin-a" target="_blank" rel="noreferrer noopener">with Apollo 17</a>. Since then, no crew has traveled beyond low-Earth orbit.
However, the Starship is still in the testing and development phase. The company has conducted six test flights of the vehicle thus far and is preparing for its seventh test flight. 
The seventh test flight of Starship is slated for Wednesday at 4 p.m. CT but the company has warned that unfavorable weather can cause changes to the launch schedule. 
As the Starship continues to undergo testing, SpaceX continues to keep up its launch cadence with its Falcon launch vehicle. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data" target="_blank" rel="noreferrer noopener">Cybertruck Success Comes At A Cost: Tesla Sells Nearly 39,000 Units In 2024, But Luxury Model S And X Sales Take A Hit In US, Data Shows</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

Tech

SpaceX Launches Two Lunar Landers As It Gears Up To Take Humans Back On Moon Surface

Janus Henderson U.S. Sustainable Equity ETF declares quarterly distribution of $0.0234

Janus Henderson U.S. Sustainable Equity ETF declares quarterly distribution of $0.0229

Janus Henderson U.S. Sustainable Equity ETF declares quarterly distribution of $0.0189

Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) shares were trading higher premarket on Tuesday after the company inked a deal to acquire Evident&#8217;s Inspection Technologies division for $1.78 billion <a href="https://www.benzinga.com/pressreleases/25/01/b42968553/wabtec-to-acquire-evidents-inspection-technologies-division" target="_blank" rel="noreferrer noopener">(around $1.68 billion after-tax benefits)</a>.



Notably, Evident&#8217;s Inspection Technologies division was previously part of Olympus Corporation's Scientific Solutions Division.



The purchase price reflects a 12.0x multiple of projected 2025 EBITDA, adjusted for transaction costs, tax benefits, and anticipated cost synergies of $25 million.



The transaction is subject to customary closing conditions and regulatory approvals, with the acquisition of Inspection Technologies expected to be completed by mid-2025.



Synergies: The acquisition is expected to deliver immediate shareholder value, driven by high single-digit revenue growth, accretive Adjusted EBIT margins and improved <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">return on invested capital (ROIC) over time</a>.



The company also projects the deal slightly boosting Adjusted EPS in the first year.



This acquisition positions Wabtec for accelerated growth and strengthens its focus on improving customer productivity, reliability, and safety.



This acquisition is anticipated to expand Wabtec&#8217;s Digital Intelligence business, doubling its total addressable market from around $8 billion to $16 billion.



The buyout enhances the company's capacity to offer innovative solutions to a wider customer base.



Notably, the company had been on an acquisition spree lately.



Last month, Wabtec acquired Bloom Engineering, enhancing its portfolio with advanced burners, combustion systems, and services for <a href="https://www.benzinga.com/pressreleases/24/12/b42719705/wabtec-acquires-bloom-engineering-to-strengthen-its-heat-transfer-and-energy-solution-portfolio" target="_blank" rel="noreferrer noopener">industrial and process heating applications</a>.



In Novemeber, Wabtec disclosed a strategic acquisitions of Fanox and Kompozitum for a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41896350/wabtec-acquisitions-expand-capabilities-of-its-transit-business" rel="noreferrer noopener">combined cost of $110 million</a>.



As of September 30, 2024, Wabtec&#8217;s cash, cash equivalents and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41483069/wabtec-reports-third-quarter-2024-results-raised-and-tightened-adjusted-eps-guidance" rel="noreferrer noopener">restricted cash stood at $410 million</a>.



Investors can gain exposure to the stock via iShares Environmental Infrastructure and Industrials ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EFRA#NASDAQ">EFRA</a>) and Janus Henderson U.S. Sustainable Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSPX#NYSE">SSPX</a>).



Price Action: WAB shares are up 0.60% at $193.00 premarket at the last check Tuesday.



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Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) shares are trading lower after the company reported <a href="https://www.benzinga.com/pressreleases/24/07/b39926913/wabtec-reports-second-quarter-2024-results-raised-and-tightened-adjusted-eps-guidance" target="_blank" rel="noreferrer noopener">second-quarter FY24 results</a>.



Sales growth&nbsp;of&nbsp;9.8%&nbsp;Y/Y to&nbsp;$2.644 billion,&nbsp;marginally beating the consensus of&nbsp;$2.643 billion.



Sales growth&nbsp;was driven&nbsp;by higher sales in Freight (+13.1%&nbsp;Y/Y) and Transit (+2.0%&nbsp;Y/Y) segments.



The adjusted gross margin expanded 290 basis points to&nbsp;33.3%, and the adjusted operating margin was 19.3%, up 290 basis points.&nbsp;



At the end of the quarter, the total backlog stood at $22.08 billion, down 1.6% Y/Y. Adjusted EPS of $1.96 (+39.0% Y/Y) <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">topped the consensus of $1.88.</a>



During the quarter, the company returned&nbsp;$235 million&nbsp;to shareholders via share repurchases and dividends.&nbsp;



Operating cash flow was&nbsp;$235 million&nbsp;versus&nbsp;$115 million a year ago. Wabtec held cash, cash equivalents and restricted cash of $595 million and total debt of $4.00 billion&nbsp;at the end of the quarter.&nbsp;



Rafael Santana, Wabtec&#8217;s President and CEO said, &#8220;Demand on our end markets continues to be strong and we have significant opportunities for further growth given the quality of our products and the productivity and reliability that we provide for our customers.&#8221;



FY24&nbsp;Guidance: Wabtec raised the adjusted EPS&nbsp;outlook&nbsp;to&nbsp;$7.20&nbsp;to&nbsp;$7.50 (<a target="_blank" href="https://www.benzinga.com//node/38403160" rel="noreferrer noopener">from $7-$7.40 earlier</a>)&nbsp;versus the consensus of&nbsp;$7.39.



The company reiterated sales of&nbsp;$10.25 billion-$10.55 billion&nbsp;versus a consensus of&nbsp;$10.375 billion.



Dividend: On July 18, the Board of Directors declared a regular quarterly dividend per share of $0.20, payable on August 28, 2024, to holders of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39849104/wabtec-declares-regular-quarterly-common-dividend" rel="noreferrer noopener">record as of August 14, 2024</a>.



Investors can gain exposure to the stock via&nbsp;Janus Henderson U.S. Sustainable Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSPX#NYSE">SSPX</a>) and IShares Environmental Infrastructure And Industrials ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EFRA#NASDAQ">EFRA</a>).



Price Action: WAB shares are down 4.46% at $160.61 at the last check Wednesday.

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