How China Built a Global Port Network
Hong Kong-based CK Hutchison agreed in March to sell more than 40 ports in 23 nations to an investor group led by American financial firm BlackRock, and the parties had aimed to reach a definitive agreement on the $23 billion deal at month-end. Now, Beijing is trying to muscle into the deal and carve out a stake for its giant shipping group Cosco, The Wall Street Journal reported Thursday.
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7 minutes ago
- Yahoo
Liverpool legend questions Bayern move for Diaz
Liverpool Stand Firm as Bayern's Diaz Pursuit Sparks Criticism Bayern's gamble on Diaz triggers sharp response In a summer market already tilting toward the chaotic, Bayern Munich's £58.6 million bid for Liverpool's Luis Diaz has landed like a thunderclap. The Bundesliga champions — eager to replenish their attacking ranks — thought they had found a solution in the Colombian winger. But Liverpool's answer was firm: not for sale. Diaz, now 28 and entering his prime years, has reportedly voiced some uncertainty about his long-term future at Anfield. 'We're talking,' he admitted during Colombia's recent international break, acknowledging discussions with other clubs and describing his future as being 'in the club's hands.' Yet for all the speculation, the Reds remain unmoved. Arne Slot views him as essential to his plans and Liverpool, Premier League champions once more, are not in the business of selling starters — certainly not without an offer that would shift the tectonic plates. Hamann questions Bayern's logic in Diaz pursuit The bid has not only failed but provoked a strong backlash — from an unlikely source. Didi Hamann, a former midfielder for both Liverpool and Bayern Munich, did not pull any punches in his assessment of his old German club's strategy. Photo: IMAGO 'To now bring in Luis Diaz, a 28-year-old South American who played 50 games per season for four or five years and has those long flights home, which are also a problem,' Hamann said bluntly on Sky Germany. 'To pay 70 or 80 million for that, while the sale value is zero because he would be 32 at the end of his contract. I wonder what they even have the campus (academy) for?' His remarks reflect more than just financial prudence. There is a growing sentiment within German football that Bayern's dependency on high-profile imports may be stunting the development of their homegrown talents. No new contract on the table — yet no panic Although Diaz has not received a new contract offer from Liverpool — and his £140,000-a-week salary remains untouched since his 2022 move from Porto — the club appears relaxed. Diaz is contracted until 2027, and insiders have consistently rubbished claims of discontent over wages. The winger's performances have been more than respectable: 148 appearances, 41 goals, 16 assists, and four domestic trophies. His output, though not electric, is steady. His value to the system — his relentless pressing, his capacity to disrupt opposition shapes — is less tangible but no less real. Slot's project leaves no room for uncertainty Slot has been clear: Diaz is part of his vision. And unless Bayern (or Barcelona, who've also sniffed around) return with an astronomical bid, Diaz will still be in red come September. Whether he wants to be is a more delicate matter. But if Liverpool can once again offer trophies and Champions League lights, then even amid European temptation, the Colombian's best footballing future may still lie on Merseyside.
Yahoo
7 minutes ago
- Yahoo
We Like These Underlying Return On Capital Trends At Tonkens Agrar (ETR:GTK)
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in Tonkens Agrar's (ETR:GTK) returns on capital, so let's have a look. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Understanding Return On Capital Employed (ROCE) For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Tonkens Agrar is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.042 = €1.6m ÷ (€40m - €2.3m) (Based on the trailing twelve months to December 2024). Therefore, Tonkens Agrar has an ROCE of 4.2%. In absolute terms, that's a low return and it also under-performs the Food industry average of 9.6%. View our latest analysis for Tonkens Agrar While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Tonkens Agrar has performed in the past in other metrics, you can view this free graph of Tonkens Agrar's past earnings, revenue and cash flow. The Trend Of ROCE Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 60% in that same time. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking. The Bottom Line To sum it up, Tonkens Agrar is collecting higher returns from the same amount of capital, and that's impressive. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 67% return over the last five years. In light of that, we think it's worth looking further into this stock because if Tonkens Agrar can keep these trends up, it could have a bright future ahead. If you'd like to know more about Tonkens Agrar, we've spotted 3 warning signs, and 1 of them is a bit concerning. If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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
28 minutes ago
- Yahoo
Could Buying Lockheed Martin Stock Today Set You Up for Life?
Key Points The medium-term outlook for defense spending is positive, with both the U.S. and other NATO countries looking to ramp up investment. Lockheed Martin is well positioned to benefit from President Trump's defense budget. The company's execution issues have troubled it in recent years, and many defense companies have faced margin pressures. 10 stocks we like better than Lockheed Martin › There's a lot to like about defense giant Lockheed Martin's (NYSE: LMT) stock, but is it enough to make it an investment that investors can feel comfortable with, knowing it will generate life-changing long-term returns? The bulls' case for Lockheed Martin The investment case for the stock is relatively easy to understand. It's based on the enduring need for defense equipment and services, as well as its increasing importance in an age of geopolitical conflict. Not only is President Donald Trump seeking to ramp up the defense budget to a record $1.01 trillion, but NATO has also been enlarged, and its members have recently agreed to invest 5% of their gross domestic product (GDP) on core defense requirements as well as defense and security-related spending by 2035. Moreover, much of the spending, at least in the U.S., focuses on missile defense and tactical missiles, which Lockheed Martin specializes in. Indeed, discussing the matter on an earnings call in April, CEO Jim Taiclet said, "Our 21st century security strategy, where we integrate existing and new satellites, aircraft, ships, missile launchers, and command and control systems with constantly upgradable digital technologies, was tailor-made for [missile defense system] Golden Dome." Furthermore, Lockheed Martin's current backlog of $173 billion represents 2.3 years' worth of sales based on the midpoint of management's guidance for full-year 2025 revenue. It's also worth noting that its core customer, the U.S. government, is a highly reliable payer. Turning to valuation, the midpoint of management's guidance range calls for $23.15 in earnings per share and $6.7 billion in free cash flow (FCF). Based on the current price, it would put the stock at 17.2 times earnings and 16.3 times FCF. They are attractive valuations for a company with such solid growth prospects. So is it that case closed? As usual, investing is rarely that simple. The bears' case for Lockheed Martin The negative case for the stock can be seen in three interrelated arguments: Lockheed Martin's execution challenges in recent years, notably with its most important single program, the F-35 Lightning II Joint Strike Fighter, have damaged confidence in its ability to produce "long-run franchise" programs. Lockheed Martin, like many other defense contractors, including Boeing and RTX, has struggled to achieve margin expansion in recent years, as the U.S. government has become more adept at negotiating contracts, particularly through the use of fixed-price contracts. The current environment is highly conducive to defense spending, but that doesn't guarantee that it will be the case in the future. Lockheed Martin's execution and margin challenges The company's execution challenges are encapsulated in two events this year. First, a Department of Defense description of the proposed 2026 defense budget included reducing F-35 procurement. There's little doubt why procurement has been reduced. The DOD is focusing on making existing F-35s mission-capable (able to perform a core mission) rather than procuring new planes. According to just 51.5% of F-35s were mission-capable in 2024. High-profile delays and issues on the Technology Refresh 3 (TR3) on the F-35 have reduced that percentage. In addition, the cost overrun on the F-35 has been so significant that the military is now considering flying it less to reduce costs. These issues damage confidence in Lockheed Martin, not least as it faces upfront costs on programs in expectation of turning them into "long-run franchises." As such, there are questions about its ability to grow margins in the future. The second issue is the loss of the next-generation air dominance (NGAD) contract to Boeing, a decision highly likely to have been influenced by the issues with the F-35. Long-term defense spending This isn't the place to enter a detailed debate over the sustainability of government spending. Still, it's worth noting that if you are buying defense stocks based on the security of long-term growth in spending from the U.S. government (which currently accounts for two-thirds of NATO spending), then you will be comfortable with the following chart of U.S. public debt to GDP and the idea that the possibility of rising debt levels won't constrain spending on defense and other matters in the future. In addition, it's extremely difficult to predict where global defense priorities will be over the next few years, let alone a lifetime. Is Lockheed Martin stock a buy? On balance, defense stocks appear slightly undervalued; however, Lockheed Martin's issues with the F-35 may not make it the best way to capitalize on a positive medium-term outlook for defense spending. As such, Lockheed Martin isn't likely to be a stock that investors can make a life-changing investment in. Should you buy stock in Lockheed Martin right now? Before you buy stock in Lockheed Martin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lockheed Martin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin and RTX. The Motley Fool has a disclosure policy. Could Buying Lockheed Martin Stock Today Set You Up for Life? was originally published by The Motley Fool
