SH2 lane blocked near Napier after expressway crash
The incident was reported about 5.15pm.
New Zealand Transport Agency Waka Kotahi said to expect delays and follow the directions by emergency services on-site.
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- Yahoo
Nvidia, Meta, Google, Microsoft, and other giant tech stocks have one important challenge coming up
Large-cap tech stocks will likely soon be forced to meet the moment. The do-or-die challenge for the tech bulls? A series of hot financial results and outlooks to match three months of hot stock price gains. "I anticipate that the quality of earnings from these [large cap tech] companies will continue to be strong, but their ability to move their valuations to move higher and higher, completely unfettered, certainly is likely to be challenged here in the next couple of quarters," New York Life Investments chief markets strategist Lauren Goodwin said on Yahoo Finance's Opening Bid (watch above). New York Life Investments has more than $800 billion in assets under management (AUM). Goodwin cited cost challenges and trade uncertainty as risks to the sizzling tech trade headed into the second half of the year. Unfettered tech valuations have been the modus operandi for the large-cap tech space of late. Podcast: How this Big Tech investor is allocating cash right now High-profile tech names in Alphabet (GOOG, GOOGL), Meta (META), Nvidia (NVDA), and Microsoft (MSFT) have advanced an average of 35% in the past three months, according to Yahoo Finance analysis. The top two performers are AI darlings Nvidia and Meta, which have logged respective gains of 52% and 41%. The four giant tech stocks have an average forward price-to-earnings (PE) multiple of 30 times, well above the S&P 500's (^GSPC) 22 times. Meta, Nvidia, and Microsoft's forward PE multiples are above their three-year averages, while Alphabet's is slightly below. Large-cap tech's strong rally extends beyond the household names in the "Magnificent Seven" complex. For instance, Broadcom (AVGO) is up 57% in the past three months, pushing its valuation multiples to some of the highest levels in five years. The same situation extends to Uber (UBER) after a 25% stock price increase in the last three months. Nowhere has the rush to drive up large-cap valuations been more evident than in Nvidia. On Wednesday, the company's market cap stood at nearly $4.2 trillion amid enthusiasm about its AI chips flowing back into China soon. "The AI Revolution is just hitting its next stage of growth," crowed tech analyst Dan Ives of Wedbush, epitomizing the enthusiasm in the space. Event: Secure your tickets for Yahoo Finance's annual Invest conference But others eyeing the tech trade are beginning to echo Goodwin's more measured tone when putting money to work at higher valuations. "We note that the recent rally in large-cap tech and AI stocks has been fueled mainly by price-to-earnings (P/E) multiple expansion," Ulrike Hoffmann-Burchardi, global head of Equities for UBS Financial Services, pointed out. "While we remain structurally bullish on AI, we would prefer to see further gains underpinned by upward earnings-per-share (EPS) revisions rather than valuation expansion alone." She added, "Pockets of elevated valuations across leading AI companies, ongoing geopolitical uncertainty, and the upcoming second-quarter earnings season all point to the need for a balanced and selective approach. We recommend investors seek diversified exposure across semiconductors, software, and internet platforms, rather than concentrating risk in any single segment or individual stock." Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Sign in to access your portfolio
Yahoo
6 minutes ago
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Bank of America Q2 Loans And Deposits Grow, Efficiency Ratio Increases To 64.58%
Bank of America Corp (NYSE:BAC) reported second-quarter fiscal 2025 net income of $7.1 billion (versus $6.9 billion a year ago) and EPS of $0.89, beating the analyst consensus estimate of $0.87. Revenue, net of interest expense, increased 4% year-over-year (Y/Y) to $26.5 billion, missing the analyst consensus estimate of $26.8 billion. Higher net interest income (NII), sales and trading revenue, asset management fees, and lower investment banking fees drove the Banking clocked $2.97 billion versus $2.6 billion Y/Y, Global Wealth and Investment Management was $993 million versus $1.03 billion Y/Y, Global Banking was $1.7 billion versus $2.1 billion Y/Y, and Global Markets was $1.6 billion versus $1.4 billion Y/Y. Investment banking fees (global banking) declined by 9% to $1.4 billion, lagging behind rivals JPMorgan (NYSE:JPM) and Citigroup's (NYSE:C) quarterly growth due to rebounding activity at the end of the quarter. Net interest income was $14.7 billion (+7% Y/Y), driven by Global Markets activity, fixed-rate asset repricing, and loan growth. Last year, the Federal Reserve's rate cuts lowered banks' deposit costs, allowing them to keep more of the difference between loan income and deposit payouts, boosting their net interest income. Noninterest income was $11.8 billion (+1% Y/Y). Provision for credit losses grew 6.7% Y/Y to $1.6 billion. View more earnings on BAC The efficiency ratio for the quarter was 64.58%, compared to 63.86% Y/Y. The bank reported a CET1 ratio of 11.5%, compared to 11.9% a year ago. The book value per share of $37.13 improved by 8%. The average loan and lease balance was $1.13 trillion (+7% Y/Y). Average deposits are up 3% Y/Y to $1.97 trillion. Chair and CEO Brian Moynihan said Bank of America delivered a strong quarter, with earnings per share rising 7% Y/Y. He noted that net interest income increased for the fourth consecutive quarter, driven by steady deposit growth over eight quarters and a 7% rise in loan volume. Consumers showed resilience, maintaining solid spending and strong asset quality, while commercial clients increased their credit utilization. Moynihan also highlighted positive momentum in the bank's markets division and said Bank of America has provided more capital to its businesses and returned 40% more capital to shareholders in the first half of 2025 compared to last year. In the fourth quarter, Bank of America expects a net interest income of $15.5 billion to $15.7 billion. Despite a 24% gain in the last three months, Bank of America's stock is up 5% year-to-date. Global markets have swung wildly since U.S. President Donald Trump announced tariffs on international trading partners in April. That volatility has boosted the markets businesses at Bank of America and other Wall Street firms, as heightened client activity has driven revenue, even as hopes for a strong rebound in mergers and acquisitions have fallen short, Bloomberg reported on Wednesday. Price Action: BAC stock is trading higher by 1.41% to $46.80 premarket at last check Wednesday. Image via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Bank of America Q2 Loans And Deposits Grow, Efficiency Ratio Increases To 64.58% originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
- Yahoo
Eshbal Functional Food eyes another acquisition in North America
Eshbal Functional Food has signed a letter of intent to buy a majority stake in US low-carb and gluten-free business Dare to Be Different Foods (D2BD). According to Canada-listed Eshbal, the acquisition is subject to the parties entering into a definitive agreement, including approval by the TSX Venture Exchange. Based in New York, D2BD was founded in 2012 and manufactures low-carb and gluten-free frozen products, including crusts, crisps and gnocchi that are formulated with broccoli and cauliflower. Eshbal plans to pay a mix of cash and shares for its planned 55% stake in D2BD. The company said it may put up more shares in itself if D2BD meets certain revenue thresholds. The amount of cash payments and number of Eshbal shares it issues will be determined after due diligence is completed. The news comes as Eshbal, which is primarily based in Israel but has a North American office in Vancouver, has named Avi Markus as its new chief commercial officer of North America. In the new role, Markus will oversee commercial operations that include sales, distribution, partnerships and business development. His most recent role was at Canada-based infant-formula business Else Nutrition. Earlier this month, Eshbal signed a letter of intent to acquire Gluten Free Nation, a Texas-based commercial baker of gluten-free bread and baked goods. Eshbal said at the time that they are 'excited about the potential to integrate Gluten Free Nation's product line and leverage its customer relationships to further expand Eshbal's North American presence'. While the company supplies foodservice and retail in Israel, it recently expanded into North America following its reverse takeover with Canada-based Hakken Capital Corp. where it also gained a listing on the TSX Venture Exchange. According to Eshbal's most recent financial report, the firm generated an annual revenue of approximately $11.4m by the end of 2024. "Eshbal Functional Food eyes another acquisition in North America" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
