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A new wave of optimism is splashing onto the Street. Investment firm Goldman Sachs just gave its three-month stock forecast a boost, lifting it from Neutral to Overweight, with it also projecting “high single-digital returns” for global stocks over the next year.What’s behind this updated approach? Goldman Sachs strategist Christian Mueller-Glissmann cites the impressive rebound in global earnings growth and reduced equity costs as the drivers of the estimate revision. On top of this, a “broader procyclical shift” in stocks and other assets could take place during the remainder of this year.“We have shifted more cyclical on sectors and themes tactically but still prefer growth vs. value on a strategic horizon... In the near-term, elevated uncertainty on U.S. elections and a better global growth outlook might benefit non-U.S. equities more, but in the medium term a large weight in structural growth stocks is likely to support the S&P 500,” Mueller-Glissmann noted.As...
After Tesla Inc's (NASDAQ: TSLA) Battery Day, it seems the Tesla Semi could be closer than ever. And now the heavy hauler has been spotted delivering vehicles to customers in Tesla's end of quarter rush.Tesmanian posted photos showing the red Tesla Semi at Tesla's Fremont factory being loaded with Model 3 and Model Y vehicles. The truck has also been seen delivering vehicles in the past.Elon Musk recently said the new 4680 batteries have been tested for months, and maybe this is what he meant.Benzinga's Take: With Tesla receiving many more semi orders from Walmart Canada, it's good to see the truck is being tested. Tesla advertises the truck can go 500 miles on a full charge, with a full load, at highway speeds. The company is hoping to start producing the semi soon.Related Links:Walmart Canada Triples Its Tesla Semi OrdersStock Wars: Ford Vs. General Motors Vs. TeslaPhoto courtesy of TeslaSee...
(Bloomberg Opinion) -- Veolia Environnement SA has wisely bettered its first lowball offer for 29.9% of rival water-and-waste firm Suez SA with a seriously sweetened bid that Engie SA — the state-backed utility that owns the stake — will find very hard to refuse. The bigger question is whether it’s enough to get French politics out of the way.The new offer of 18 euros per share represents a 16% increase and values the Suez stake at 3.4 billion euros ($4 billion). Veolia boss Antoine Frerot’s aim isn’t just to stuff Engie shareholders’ mouths with gold, but to remove as much political risk as possible. The company has committed to maintain full employment of Suez workers in France if it manages to swallow the entire company. Plus it’s pledged any takeover would be on a friendly basis after six months of negotiations to reach an agreement. The new price is undeniably attractive. It represents a multiple of 90 times Suez’s projected adjusted earnings this year and 28 times...
