Rocket Lab USA (NASDAQ:RKLB) Bolsa

Rocket Lab USA

Rocket Lab USA Inc is engaged in space, building rockets, and spacecraft. It provides end-to-end mission services that provide frequent and reliable access to space for civil, defense, and commercial markets. It designs and manufactures the Electron and Neutron launch vehicles and Photon satellite platform. Rocket Lab's Electron launch vehicle has delivered multiple satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. The business operates in two segments Launch Services and Space Systems. Geographically it serves Japan, Germany, rest of the world and earns key revenue from the United States.

Equities

News

Markets

Movers

General

RKLB

ROKT

Rocket Lab elige a Frank Klein como su nuevo COO, para impulsar la producción y expansión de sus sistemas espaciales y satelitales.

Rocket Lab USA contrata a veterano de Rivian como nuevo director de operaciones

Las acciones de Rocket Lab (RKLB) suben tras reportar un aumento de ingresos del 71% en el segundo trimestre y avances en su cohete Neutron.

¿Qué pasa con las acciones de Rocket Lab tras los informes de ganancias?

Rocket Lab USA Inc

Chris Wright, the U.S. Secretary of Energy, has granted an extension for the export permit of the Golden Pass LNG project. This project is a collaborative effort between&nbsp;QatarEnergy&nbsp;and&nbsp;ExxonMobil&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and is currently under construction in Sabine Pass, Texas.
What Happened: The Department of Energy announced that the extension will provide additional time for the launch of LNG exports to major markets in Asia and Europe from the $10 billion project. The new deadline for the start of exports has been pushed back from Sept. 30, 2025, to March 31, 2027.
The Golden Pass project, expected to begin LNG production in late 2025, will become the ninth-largest export terminal&nbsp;in the U.S. once it&#8217;s operational. QatarEnergy has a 70% stake in the joint venture, with ExxonMobil holding the remaining 30%.
Tala Goudarzi, an official from the department&#8217;s&nbsp;fossil energy and carbon management&nbsp;division, shared that the Golden&nbsp;Pass was the first project authorized by the DOE for exports to countries without a free trade agreement during the initial Trump administration.
The project developers requested an extension in August due to a shift in main contractors&nbsp;and the need for contingency time due to uncertainties in a project of this scale. The DOE stated that upon completion,&nbsp;Golden Pass will be capable of exporting up to&nbsp;2.57 billion cubic feet of LNG per day. 
SEE ALSO: <a href="https://www.benzinga.com/news/25/03/44153281/no-chick-fil-a-on-sundays-heres-where-fast-food-fans-flock-instead">No Chick-fil-A On Sundays? Here&#8217;s Where Fast-Food Fans Flock Instead</a>
Why It Matters: The U.S. is the largest exporter of LNG in the world. On that note, Secretary Wright stated, "Exporting U.S. LNG supports American jobs, bolsters our national security and strengthens America's position as a world energy leader.&#8221;
The Trump administration is resuming approvals for LNG exports after former President Joe Biden temporarily halted them to assess the economic and environmental impacts of the rapidly growing industry.
This extension comes at a time when ExxonMobil&#8217;s shares have been under pressure. On Wednesday, ExxonMobil&#8217;s shares fell to <a href="https://www.benzinga.com/news/25/03/44150023/why-exxon-mobil-xom-stock-hit-a-new-52-week-low-today">a new 52-week low</a>, largely due to a drop in oil prices following a rise in U.S. inventories and OPEC+&#8217;s decision to proceed with its planned April wind-down of production cuts. 
The extended permit for the Golden Pass project could potentially provide a much-needed boost to ExxonMobil&#8217;s operations. 
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44143660/howard-lutnick-says-president-definitely-thinks-theres-a-bitcoin-strategic-reserve">Howard Lutnick Says &#8216;President Definitely Thinks There&#8217;s A Bitcoin Strategic Reserve&#8217;</a></li>
</ul>

ExxonMobil And QatarEnergy's Golden Pass LNG Project Gets Extended Export Permit From US Energy Department

Deutsche Lufthansa (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DLAKY#OTC">DLAKY</a>) reported quarterly earnings of $0.49 per share. This is a 716.67 percent increase over earnings of $0.06 per share from the same period last year. The company reported quarterly sales of $10.08 billion. This is a 6.88 percent increase over sales of $9.43 billion the same period last year.

Earnings

Earnings Beats

DLAKY

Deutsche Lufthansa Q4 EPS $0.49 and Sales $10.08B

French satellite operator Eutelsat Communications S.A. has risen over 630% since Monday, following President Donald Trump&#8216;s announcement of a freeze in Ukraine&#8217;s military aid.
What Happened: Eutelsat&#8217;s surge comes as the French company is in talks with the European Union to replace SpaceX&#8217;s Starlink satellite service in Ukraine, according to <a href="https://in.investing.com/news/stock-market-news/eutelsat-in-talks-with-eu-to-replace-starlink-in-ukraine-93CH-4705787">a</a> report by Investing.com.
CEO Eva Berneke told Bloomberg TV on Thursday that the company was looking into the requests of replacing several Starlink terminals in Ukraine. While the company already has a presence in Ukraine, Berneke said that it would take a few months to replace around 40,000 Starlink terminals.
Elon Musk owned SpaceX makes Starlink, which is a satellite internet service that delivers high-speed, low-latency broadband globally, especially to remote areas underserved by traditional internet providers.
President Trump on Monday temporarily suspended U.S. military aid to Ukraine to pressure Ukrainian President Volodymyr Zelenskyy into peace negotiations with Russia. According to the White House, the freeze will remain in place until Trump determines that Ukraine has made a meaningful effort toward diplomatic talks with Moscow.
See Also: <a href="https://www.benzinga.com/25/03/44138112/defense-stocks-take-centerstage-as-donald-trump-freezes-ukraine-military-aid-heres-a-list-of-top-global-defense-etfs-to-watch">Defense Stocks In Focus As Trump Freezes Ukraine Military Aid: Here&#8217;s A List Of Top Global Defense ETFs To Watch</a>
Why It Matters: Eutelsat&#8217;s shares have surged 631.1% from €1.19 or $1.29 on Friday, Feb. 28, to €8.7 or $9.40 intraday on Thursday.
Investor <a href="https://www.benzinga.com/25/03/44138112/defense-stocks-take-centerstage-as-donald-trump-freezes-ukraine-military-aid-heres-a-list-of-top-global-defense-etfs-to-watch">interest in defense stocks</a> has increased after Trump&#8217;s announcements in anticipation of increased demand for their products and services as European nations are rallying to support Ukraine.
British Prime Minister Keir Starmer has pledged a £2.26 billion loan for military supplies. Meanwhile, Germany&#8217;s prospective coalition government is planning to create a €500 billion or $540.532 billion infrastructure fund to modernize the military and boost economic growth, reported Reuters.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. SPY decline 0.68% to $579.10&nbsp;and QQQ was down 0.84% to $497.79, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Wednesday, the SPY advanced 1.07% to $583.06, and the QQQ rose 1.30% to $502.01.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44135177/trump-seeks-to-end-chips-act-who-stands-to-lose-heres-a-list-of-beneficiaries-that-could-be-affected" target="_blank" rel="noreferrer noopener">Trump Seeks To End CHIPS Act: Who Stands To Lose? Here's A List Of Beneficiaries That Could Be Affected</a></li>
</ul>
Photo courtesy: Shutterstock

Market Summary

Starlink's European Rival, Up Over 600% Since Trump Halted Ukraine Aid, Now Plans To Replace Elon Musk's Satellite Internet Service In War-Torn Nation

Dividend Payment
The Company announced that its board of directors (the "Board") approved an annual cash dividend for the year ended December 31, 2024 of US$0.5 per ordinary share, or US$1.0 per ADS, to holders of ordinary shares and holders of ADSs, respectively, as of the close of business on April 8, 2025 Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of the dividend is expected to be approximately US$1.5 billion, as calculated on the current number of the Company's total issued and outstanding shares, which may be subject to minor adjustment by the record date. The payment date is expected to be on or around April 23, 2025 and on or around April 29, 2025 for holders of ordinary shares and holders of ADSs, respectively.

Dividends

JD.com Approved Annual Cash Dividend Of $1.00 Per ADS

JD.com Q4 Adj EPADS $1.02 Beats $0.90 Estimate, Sales $47.54B Beat $45.96B Estimate

Anatoly Yakovenko, the co-founder of the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) ecosystem, argued against a federal government-controlled cryptocurrency reserve Wednesday, citing a threat to decentralization.
What Happened: In an X post, Yakovenko outlined his order of preference for a potential cryptocurrency reserve.
&#8220;No reserve, because if you&nbsp;want decentralization to fail, you'd&nbsp;put the government in charge&nbsp;of it,&#8221; he stated as his first and the most ideal choice.
However, if reserves must be set up, Yakovenko said they should be managed by states as a &#8220;hedge&#8221; against the Federal Reserve making a mistake.
In the case of a federally administered reserve, Yakovenko proposed basing it on &#8220;objectively measurable requirements.&#8221; 
&#8220;I don't care what they are, they can even be constructed such that only Bitcoin satisfies them right now, they just must be objectively measurable and rationally justified,&#8221; he explained his point.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My reserve order of preference 1. No reserve, because if you want decentralization to fail you'd put the government in charge of it. 2. Or states run their own reserve as a hedge against the fed making a mistake 3. Or if there has to be a reserve, it's based on objectively… <a href="https://t.co/LfYXCIeRnG">https://t.co/LfYXCIeRnG</a>
&mdash; toly &#x1f1fa;&#x1f1f8; (@aeyakovenko) <a href="https://twitter.com/aeyakovenko/status/1897517764119830775?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote>
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When questioned if this was an indirect confirmation that no one from Solana pitched SOL for inclusion in the recently announced U.S. cryptocurrency reserve, Yakovenko stated, &#8220;No one asked me, and I didn&#8217;t pitch it.&#8221;
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44159088/microsoft-might-have-given-bitcoin-investments-a-miss-for-now-but-one-of-its-largest-investors-has-been-an-avid-advocate-of-cryptos-blockchains">Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate</a>
Why It Matters: Yakovenko&#8217;s comments come in the wake of the surprise announcement of a strategic reserve comprising of top coins such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), and SOL. 
The idea of including coins other than Bitcoin has sparked criticism from certain quarters, including some of President Donald Trump&#8217;s <a href="https://www.benzinga.com/25/03/44107003/trump-faces-backlash-over-crypto-reserve-plan-from-bitcoin-supporters-including-his-own-dont-think-the-government-should-be-pumping-our-crypto-bags-with-taxpayer-money">supporters</a>. Coinbase CEO Brian Armstrong also <a href="https://in.benzinga.com/25/03/44070857/coinbase-ceo-brian-armstrong-thinks-having-a-bitcoin-only-crypto-reserve-best-option-while-arthur-hayes">stated </a>that having just Bitcoin in the reserve would be the &#8220;best option.&#8221;
That said, Commerce Secretary Howard Lutnick <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44143660/howard-lutnick-says-president-definitely-thinks-theres-a-bitcoin-strategic-reserve">hinted </a>that Bitcoin might be granted a special status in the proposed reserve, while other tokens would be treated differently but positively.
All eyes will be on Friday&#8217;s <a href="https://www.benzinga.com/25/03/44064928/trump-to-host-first-ever-white-house-crypto-summit-next-friday-btc-surges-past-85000-doge-surges-over-10" target="_blank" rel="noreferrer noopener">White House crypto summit</a> to get a more comprehensive understanding of the reserve.
Price Action: At the time of writing, SOL was exchanging hands at $6.23, up 13.61% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/03/44157760/peter-schiff-predicts-a-bitcoin-strategic-reserve-will-accelerate-dollars-demise-the-ultimate-winner-will-be-gold">Peter Schiff Predicts A Bitcoin Strategic Reserve Will &#8216;Accelerate&#8217; Dollar&#8217;s Demise: &#8216;Ultimate Winner Will Be Gold&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$ADA

$BTC

$ETH

$SOL

$XRP

Solana Co-Founder Says A Federally Controlled Crypto Reserve Will Harm Decentralization Ethos, Proposes States Control Their Own Reserves

Offerings

HCXY

Reported Earlier, Hercules Capital Announced That It Has Agreed To Sell To The Initial Purchasers In A Private Offering, $250.0M Aggregate Principal Amount Of Its 4.75% Convertible Unsecured Notes Due 2028

Reported Earlier, Forestar Group Announced That It Has Priced An Offering Of $500M Aggregate Principal Amount Of 6.500% Senior Unsecured Notes Due 2033

Reported Earlier, Bread Financial Announced The Pricing Of Its Previously Announced Offering Of $400M In Aggregate Principal Amount Of Its 8.375% Fixed-rate Reset Subordinated Notes Due 2035

2025 guidance
<ul>
<li>South Bow has reduced its outlook for normalized EBITDA for its Marketing segment by approximately $30 million relative to 2024, due to continued impacts of WCSB crude oil pipeline capacity exceeding supply and South Bow's response to market uncertainty caused by the potential for, and continuation of, tariffs, including the unwinding of certain positions to minimize South Bow's exposure to further pricing volatility.</li>
<li>South Bow anticipates that its interest expense for 2025 will be approximately $325 million, within a range of 2%, and that the Company's current tax rate will range from 23% to 24%.</li>
<li>Distributable cash flow is expected to be approximately $535 million, within a range of 3%, which South Bow will use to fund its expected annual dividend of $416 million ($2.00/share), subject to approval and declaration by the Board, and investments required to continue advancing the Blackrod Connection Project.</li>
<li>South Bow expects that its net debt-to-normalized EBITDA ratio will increase modestly through the course of 2025 as the Company continues to invest in the Blackrod Connection Project and incur one-time costs of approximately $40 million to $50 million associated with the Spinoff. Consistent with the Company's outlook on leverage, South Bow anticipates exiting 2025 with a net debt-to-normalized EBITDA ratio of approximately 4.8 times and that the Company will begin reducing its leverage once the Blackrod Connection Project starts generating cash flow in 2026.</li>
<li>South Bow plans to invest approximately $110 million, within a range of 3%, in growth capital expenditures for the Blackrod Connection Project in 2025. The total expected capital cost of the project is estimated to be $180 million, targeted to be ready for in-service in early 2026. As of Dec. 31, 2024, South Bow has invested $62 million in the project.</li>
<li>Maintenance capital expenditures are estimated to be approximately $65 million, within a range of 3%, in 2025, as South Bow proactively completes maintenance activities while demand for uncommitted capacity is expected to be subdued, and invests in information services infrastructure. These expenditures are generally recoverable through South Bow's tolling arrangements.</li>
</ul>
South Bow's 2025 annual guidance and a review of 2024 actual results are outlined below:
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<table>
<tbody>
<tr>
<td>$ millions, except percentages 1</td>
<td>2024 Actuals</td>
<td>2025 Guidance</td>
</tr>
<tr>
<td>Normalized EBITDA</td>
<td>1,091</td>
<td>1,010 ± 3%</td>
</tr>
<tr>
<td>Interest expense</td>
<td>388</td>
<td>325 ± 2%</td>
</tr>
<tr>
<td>Current tax rate (%)</td>
<td>23%</td>
<td>23% - 24%</td>
</tr>
<tr>
<td>Distributable cash flow</td>
<td>608</td>
<td>535 ± 3%</td>
</tr>
<tr>
<td>Capital expenditures</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Growth</td>
<td>73</td>
<td>110 ± 3%</td>
</tr>
<tr>
<td>Maintenance 2</td>
<td>61</td>
<td>65 ± 3%</td>
</tr>
</tbody>
</table>
</figure>

Guidance

SOBO

South Bow Projects 2025 Normalized EBITDA Of Approximately $1.01B, Reaffirms Its Long-term Normalized EBITDA Growth Outlook Of 2% To 3%

South Bow Reports Q4 2024 GAAP EPS Of $0.54 Vs. $0.45 YoY, Sales Of $488M Vs. $540M YoY

Skanska is investing about SEK 1 billion in the first phase of the office complex Solna Link at Solna Station in Arenastaden, Sweden. The construction contract is worth about SEK 480M, which will be included in the order bookings for Sweden for the first quarter 2025.
The first phase of the nine-storey office building will have a leasable area of approximately 16,000 square meters. The entire Solna Link, located along the tracks at Solna Station, will encompass about 36,000 square meters. In addition to office space, the ground floor will house a gym, conference rooms, lounge, restaurant, café, and bicycle service. Just a few minutes from Solna Link is Westfield Mall of Scandinavia with shops, restaurants, and all other types of services.
The project will be LEED certified with the ambition to achieve Platinum level, and it is also pre-certified according to NollCo2 and WELL Gold.
Construction work is set to begin in March 2025 and the office building is planned for completion in the first quarter of 2027.

SKBSY

Skanska Invests SEK 1B in Solna Link Office Complex, Begins Construction in March 2025

FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) and Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), a wholly owned subsidiary of Malaysia Marine and Heavy Engineering Holdings Berhad (KLSE: MHB), have announced the signing of a Joint Development Agreement (JDA) to co-develop large-scale hydrogen production systems and technologies across Asia, New Zealand, and Australia.
Building on a memorandum of understanding signed in February 2023, the JDA represents a pivotal step for the two companies, driven by a shared vision to make clean hydrogen production easily accessible and viable. The collaboration underscores FuelCell Energy and MHB's commitment to advancing green energy solutions and supporting global decarbonization and energy transition goals.
Under the terms of the JDA, the two companies will bring together FuelCell Energy's cutting-edge solid oxide electrolyzer (SOEC) technology and MHB's expertise in large-scale fabrication to develop modular solutions that support rapid deployment of commercial hydrogen production.
&nbsp;
Project Award: Detailed Feasibility Study (DFS) in Malaysia
In conjunction with the JDA, FuelCell Energy and MHB are collaborating to support a contract awarded to FuelCell Energy for a Detailed Feasibility Study (DFS) of a low-carbon fuel production facility in Malaysia. The DFS will evaluate the production of low-carbon fuel utilizing SOEC technology with carbon dioxide and water as feedstocks.
Additionally, as part of the DFS, the companies will collaborate with KBR LLC, which will provide its proprietary low-carbon fuel synthesis technology.
The project aligns with Malaysia's goals to achieve net-zero carbon emissions by 2050, while advancing its national hydrogen value chain.

Government

Regulations

FCEL

FuelCell Energy and MMHE Partner to Expand Large-Scale Hydrogen Production Across Asia and Australia

<a href="https://www.globenewswire.com/Tracker?data=Dpe5uBgPoRsuPOQGNwzt4IJT8XrmnvAhEssnuY-JhnmjOqVNg5B_2V5q6UvyAibulWUWNNzAel2mN0rHqhDuf2fXQH5XE_U9Ip7xRBSiIJXrWHbwT4w36NknfmZNGyHvwZOXeOOkooujjKGCo7RmbdGzPhWqs6Z3r90s46OfUSWwZuvusTfI2_r1ngsCYd0DcOzdzRQTr8QC1RBQB3kj2A==">Lantronix Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LTRX#NASDAQ">LTRX</a>), a global leader of compute and connectivity for IoT solutions enabling Edge Intelligence, today announced that it will demonstrate its <a href="https://www.globenewswire.com/Tracker?data=qeH--YO6r-k5_EVN380NHF0E5AB0mzXlq7_2JguTbH2G9CCDuzbp5kfZ23_KKM1UDFHDhhVHuR-TB_l6KcWXB6qIDb0XFzxwttSUUiu7pQkm9Nyt_OCOV4suehN8ZKvurjC4ddEF80ur8n2IHtPdN-eRqn2futGUAXNLFMNB3-iCgk7O7b3dkldbX117gl41RQCreJ82ZmC-wVQSZUetTw==">SmartLV,</a> the first AI-enabled IoT Edge Compute Cellular Gateway, in the Qualcomm&#xAE; Technologies Booth at Hall 5/5-161 at Embedded World, March 11–13, 2025, in Nuremberg, Germany. Powered by the Qualcomm Dragonwing&#x2122; IQ-615, this groundbreaking innovation is designed specifically for low-voltage substations and distribution automation applications in next-generation smart grids, utilities and industrial sectors.
The Lantronix SmartLV demonstration in Qualcomm Technologies' booth at Embedded World will highlight the cutting-edge Edge AI capabilities of this next-generation IoT cellular gateway, which utilizes the Dragonwing IQ-615. The SmartLV demo will showcase real-world use cases, including real-time monitoring of power consumption for a low-voltage grid. Combining this data with real-world pricing information enables grid operators to steer power and users to cost-optimize their consumption.

LTRX

Lantronix To Unveil AI-Powered SmartLV IoT Gateway for Smart Grids at Embedded World 2025

AlTi Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTI#NASDAQ">ALTI</a>) ("AlTi" or "AlTi Tiedemann Global"), a leading independent global wealth manager with over $77 billion in combined assets, announces the acquisition of Kontora Family Office GmbH ("Kontora"). Kontora is a multi-family office and asset management company headquartered in Hamburg, Germany focused on UHNW families, entrepreneurs and select institutions. The firm has assets under management ("AUM") of approximately Є14 billion.
The acquisition further advances AlTi's growth strategy to become the leading global independent wealth management platform for the UHNW, with targeted expertise in alternatives. This landmark transaction is the first European-based acquisition AlTi has executed following the strategic investment from Allianz X and Constellation Wealth Capital, having completed two US-based acquisitions in 2024. A portion of the funding from Allianz X was earmarked for AlTi's expansion into Germany, reflecting the opportunity within the German wealth management market.
Kontora is a founder-run business with a close-to 20-year track record, offering a range of services including family office, investment office, and service office solutions, tailored to preserve and grow client wealth across generations. Kontora, which primarily serves clients in Germany and Austria, specializes in open and closed-end funds and alternative strategies, with a service office focused on the administration and structuring of financial assets for large family offices, foundations, and non-profits. As part of the transaction, it is expected that Co-Chief Executive Officers Stephan Buchwald and Dr. Patrick Maurenbrecher will reinvest a portion of the proceeds into AlTi and will undertake senior positions within AlTi to play a key role in the execution of AlTi's strategy for the German market.

ALTI

AlTi Global Expands into Germany with Acquisition of Kontora, Adding €14B in AUM

David Kostin, the Chief U.S. Equity Strategist of Goldman Sachs, has revised his earnings growth forecast, citing a weaker economic outlook, and highlighted a shift in market trends.
What Happened: On CNBC&#8217;s &#8216;Squawk on the Street&#8217;, Kostin discussed his revised earnings growth forecast and market trends. Initially projected at 11%, the earnings growth forecast for 2025 has now been adjusted to 9%. 
Despite this, Kostin maintains that the earnings growth for 2026 remains at 7%, unchanged. He also stated that the S&amp;P 500 year-end target remains at 6500, suggesting an 11% gain from current levels.
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Kostin also noted a shift in investment strategy, with investors moving from &#8220;excitement&#8221; (cyclicals) to &#8220;boredom&#8221;&nbsp;(defensive stocks) amid tariff&nbsp;uncertainties. He identified healthcare and consumer staples as preferred sectors for their stability and less sensitivity to the ongoing trade war. He also named&nbsp;Thermo Fisher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) and Agilent Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) as strong investment options. 
Furthermore, he notes a shift in focus from AI infrastructure and hyperscalers to software companies that would be leveraging AI to amplify their revenues, for instance, MongoDB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>). 
According to Kostin, uncertainty around tariffs makes forecasting difficult, but models suggest&nbsp;earnings will be impacted through unit volumes and margins. The strategist estimated that a 5% increase in tariffs&nbsp;could reduce earnings growth by&nbsp;1-2%.
SEE ALSO: <a href="https://www.benzinga.com/general/space/25/03/44102170/spacex-scraps-starship-flight-test-on-monday-too-many-question-marks-about-this-flight-says-ceo-elon-musk">SpaceX Scraps Starship Flight Test On Monday: &#8216;Too Many Question Marks About This Flight&#8230;,&#8217; Says CEO Elon Musk</a>
Why It Matters: This shift in investment strategy is noteworthy, considering that institutional investors were bullish on technology and financials during the fourth quarter of 2024. Investors were seen <a href="https://www.benzinga.com/markets/equities/25/02/43878703/institutional-investors-load-up-on-technology-and-financial-stocks-in-q4-while-reducing-positions-in-healthcare-sector-amid-political-uncertainty">pulling back</a> from the healthcare sector, which Kostin now identifies as a preferred sector. Even Warren Buffet&#8216;s Berkshire Hathaway trimmed its stake in healthcare provider DaVita Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>), bringing down the ownership to 45%.
These market shifts and Kostin&#8217;s revised forecast underline the uncertainties in the current economic climate but also highlight potential&nbsp;opportunities in defensive sectors and&nbsp;AI-driven businesses. That being said, Kostin expects the falling bond yields to offset some tariff effects, potentially benefiting the economy. He summed up by saying that GDP growth is the primary driver of earnings, with interest rates and inflation playing secondary roles.
The S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 1.12% to close at 5,842.63 on Wednesday after President Donald Trump pushed back auto tariffs on Canada and Mexico by one month.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/25/03/44159766/us-indicts-12-chinese-nationals-over-alleged-global-hacking-operation-targeting-critics-been-paying-hackers-for-hire-to-inflict-digital-harm-on-americans">US Indicts 12 Chinese Nationals Over Alleged Global Hacking Operation Targeting Critics: &#8216;&#8230;Been Paying Hackers-For-Hire To Inflict Digital Harm On Americans&#8217;</a></li>
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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