Defense industry to evolve into growth industry, says Stifel's Jonathan Siegmann
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
13 minutes ago
- CNBC
Guard against market volatility in the second half with ‘boring' stocks, investor Jeff Kilburg says
Investors may find "boring" stocks a safer bet heading into the second half of the year, according to Jeff Kilburg, founder and CEO of KKM Financial. Markets were plagued by heightened volatility at the end of the first quarter and the start of the second, as fear and uncertainty stemming from President Donald Trump's trade war spread. Stocks reached their lows of the year in early April, shortly after Trump announced his universal tariff policies. While stocks have recovered their losses since then — with the S & P 500 closing Wednesday 25% above its April closing low — Kilburg warned that volatility may not ease up for the reminder of 2025. In fact, he believes that the market is entering a new volatility regime and may continue to be sensitive to any type of geopolitical tensions. Kilburg pointed to the market's knee-jerk reaction to the Israel-Iran conflict as proof. "I think investor attention and needing to monitor your investments has never been more needed," he told CNBC in a recent interview. With volatility lingering at elevated levels, Kilburg believes that now is the time for investors to reposition themselves into the more defensive, blue-chip stocks that were sold off in April. "Some of these names that get no love on CNBC air waves, those are blue-chip industrial names that we've seen people tilt back into," he said. "The ripple effect that has happened after that really tumultuous couple of weeks is that people really want to own names that they know. They want to own names that they can touch and feel, and those are kind of the boring names." These more "boring," blue-chip stalwarts could help hedge against any upcoming uncertainty, Kilburg added, and may be why investors are again favoring industrial stocks. "That's why people have gotten a little more defensive, because honestly, we don't know what President Trump is going to say next. We don't know what his policy or ambition is next," he said. "Investors being uncertain of what shoe could potentially drop next, that has kind of made portfolios tilt more industrial, more defensive." Kilburg's top stock picks One name Kilburg likes that belongs to this category is Duke Energy . The electric and power stock has rallied nearly 9% this year, not including its 3.5% yield. Last week, Goldman Sachs upgraded its rating on Duke. "We raise Duke Energy from Neutral to Buy as the stock has lagged more defensive peers YTD and is making regulatory progress towards building significant generation that is not captured at current levels in our view," wrote analyst Carly Davenport. The bank's new price target of $132, lifted from $125, represents upside of approximately 13% from Duke Energy's Wednesday close. Another name Kilburg highlighted was Waste Management , which has gained 11% in 2025. Last month, Melius Research analyst Rob Wertheimer initiated coverage of the stock with a buy rating, highlighting its "stable growth in a chaotic world." "Despite the market's growing appreciation for the quality of these industry leaders, we think there's more outperformance to come in both the short and long run, from lower risk, less downside to earnings, and higher growth," he wrote. "While relative multiples are roughly in line with historical levels, we think the premium deserved now is larger than in the past." Kilburg also mentioned Visa , up TK% this year. In June, Mizuho upgraded the credit card issuer to an outperform rating from neutral. "We see more reason for optimism as the remaining cash-to-card runway in the U.S. is longer than previously expected (we est. true U.S. card penetration at ~75% vs. 80-90% consensus). This leaves room for another decade of solid top-line growth domestically," wrote Mizuho analyst Dan Dolev. "Plus, V's performance in Canada & Nordics offers evidence of above-PCE growth, even when card penetration is > 90%." In the same note, Dolev lifted his price target to $425 per share from $359. This updated forecast represents a TK% upside from Visa's Wednesday closing price. Other names Kilburg highlighted include Costco , Verizon , JPMorgan , Masco , CVS , Comcast , Nutrien and Sysco .
Associated Press
13 minutes ago
- Associated Press
NIRI and Investor Relations Profession Recognized at Nasdaq and NYSE with Historic Dual Closing Bell Ceremonies
PHILADELPHIA, July 03, 2025 (GLOBE NEWSWIRE) -- NIRI: The Association for Investor Relations, together with The Philadelphia Chapter of NIRI marked a milestone for the investor relations (IR) profession by ringing the closing bells at both the Nasdaq and New York Stock Exchange on Monday, June 30, 2025. The simultaneous ceremonies celebrated the strategic role of investor relations professionals in progressing communications, confidence, and connection between companies and capital markets. 'NIRI sets the standard for excellence in the field and is proud to represent more than 1,500 member companies and over 12 trillion dollars in market capitalization,' said Matthew D. Brusch, NIRI President and CEO, and co-bell ringer at the NYSE. 'These ceremonies spotlighted the progress achieved in advancing the investor relations profession and recognition of the impact and value the NIRI community and IR brings to the capital markets.' This momentous and coordinated celebration was made possible with the leadership of our exchange hosts, Nasdaq's Garrett Low, Senior Managing Director, Capital Access Platforms and NYSE's Andrew Bjorkman, CETF, Director, Regional Head of Mid-Atlantic & Northwest and NIRI Philadelphia Board Vice President. Lisa M. Caperelli, NIRI Board Director and Vice President of Sponsorships for NIRI Philadelphia, rang the closing bell at Nasdaq MarketSite in Times Square, and commented, 'As IR professionals, we are the bridge between companies and the investment community — translating strategy into story, numbers into narrative, and volatility into vision. This day was a powerful celebration of the strategic value the investor relations profession delivers to shareholders.' Nahla A. Azmy, President of NIRI Philadelphia, and co-bell ringer at the New York Stock Exchange, added, 'It was an honor to represent NIRI Philadelphia and to share this historic bell closing event with our national colleagues. I am grateful to Nasdaq and NYSE for providing us the opportunity to showcase the energy and excellence that define our strong and resilient IR community.' Highlights from the Bell Ceremonies below: Bell Footage: Nasdaq: NYSE: NIRI The Association for Investor Relations Rings The Closing Bell® Media Coverage: Photos and videos courtesy of NYSE Group and Nasdaq. They do not recommend or endorse any investments, investment strategies, companies, products or services. About the NIRI Philadelphia Chapter NIRI Philadelphia, formed in 1971, is a professional association of investor relations officers, communicators, consultants and providers serving organizations in the Greater Philadelphia area. NIRI Philadelphia includes members from a variety of industries and market cap sizes who are responsible for communications between their organizations, the investing public, and the financial community. NIRI Philadelphia's goal is to provide its members the resources needed to be strategic leaders in their organizations. About NIRI: The Association for Investor Relations Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts, and other financial community constituents. NIRI is the largest professional investor relations association in the world with members representing over 1,500 publicly held companies and $12 trillion in stock market capitalization. A video accompanying this announcement is available at Photos accompanying this announcement are available at Contact: [email protected]
CNBC
4 hours ago
- CNBC
UK in 'dire straits' after finance minister's tears in parliament send markets into a panic
All eyes are now on the U.K.'s ruling Labour Party for any sign of further political fractures that could rattle Britain's economic stability, after the extraordinary sight of the country's finance minister crying in parliament on Wednesday. U.K. bond yields spiked and the pound sank against the dollar and euro as Prime Minister Keir Starmer failed to back Chancellor Rachel Reeves during a question and answer session in the House of Commons. Tears fell down Reeves' face, while Starmer appeared unaware of her distress behind him. U.K. bond yields spiked and the pound sank against the dollar and euro as tears fell down Reeves' face, and as an apparently unaware Prime Minister Keir Starmer failed to back her when asked about her position during a heated parliamentary debate. The market moves were abrupt, as traders speculated that Reeves could be about to lose her job or potentially resign, taking her strict "fiscal rules" on spending and borrowing with her. "There are a lot of eyes on the U.K.," Simon Pittaway, senior economist at the Resolution Foundation, told CNBC as the drama unfolded Wednesday. "When it comes to the [next] Autumn Budget, whoever the chancellor is, they'll have some really difficult decisions to make. And I think, as far as we're concerned, sticking to the existing fiscal rules is really crucial, that's a move that would signal kind of credibility and confidence to the market" at a time when the country is under heavy scrutiny, he told CNBC's Ritika Gupta. "Sticking to those fiscal rules, and depending on the government's priorities, some combination of higher taxes and lower spending, out towards the end of the forecast period might be the way forward," Pittaway said. The government scrambled the calm the situation amid spreading market tumult, with a spokesperson attributing Reeves's distress to a "personal matter" without commenting further. The prime minister then told the BBC that he and the chancellor were "in lockstep" and that he fully backed her. The comments seemed to placate markets, with London's FTSE 100 up almost 0.5% in early deals on Thursday morning, with the British pound also higher against the euro and dollar. The yield on the U.K.'s benchmark 10-year bonds, known as gilts, was down 6 basis points. Reeves has come under sustained pressure since the last Autumn Budget, during which she unveiled a massive boost to public spending that would be largely funded by a big tax hike on British businesses and employers. She also said she would be implementing two fiscal rules to get the U.K.'s debt pile and borrowing under control: firstly, that day-to-day government spending will be funded by tax revenues and not by borrowing, and, secondly, that public debt will fall as a share of economic output by 2029-30. The rules gave Reeves' Treasury little fiscal "headroom," however, and the little leeway she did have has been further eroded by the government rowing back welfare spending cuts in recent months. After another government U-turn this week, this time on disability benefits, Reeves must now find savings elsewhere — tricky, when she's just announced a massive public spending plans — break her borrowing rules or go against Labour's campaign pledges and hike taxes on workers later this year. On a wider level, following the latest climbdown on welfare, the Labour Party leadership will now have to wrangle with a rebellious group of backbench lawmakers who will feel emboldened to challenge the government on other potentially controversial reforms and spending cuts. "The nature of what's happened over the last 48 hours, with the government's welfare bill being torn up, it means that the government's political and economic strategy are in absolute dire straits at the moment," Max Wilson, director of public affairs at Whitehouse Communications, told CNBC on Thursday. The government finds itself with "such little wiggle room" because of its previous political decisions and concessions to backbenchers, Wilson said. "Financially, economically, there's very little that they can do, and Rachel Reeves has such a tough job on her hands now, finding the extra money without resorting to other actions that are going to upset the markets, including borrowing more or tax rises, so, really, I think the government left in an absolute bind here," he noted.
