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Europe’s Euclid space telescope launched on mission to explore ‘dark universe’

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Europe's Euclid space telescope launched on mission to explore 'dark universe'

By Steve Gorman

(Reuters) -A European-built orbital satellite was launched to space on Saturday from Florida on a mission to shed new light on the mysterious cosmic phenomena known as dark energy and dark matter, unseen forces scientists say account for 95% of the known universe.

The telescope dubbed Euclid, named for the ancient Greek mathematician called the “father of geometry,” was carried aloft in the cargo bay of a SpaceX Falcon 9 rocket that blasted off around 11 a.m. EDT (1500 GMT) from Cape Canaveral Space Force Station.

A livestream of the liftoff was shown on NASA TV.

New insights from the $1.4 billion European Space Agency (ESA) mission, designed to last at least six years, are expected to transform astrophysics and perhaps understanding of the very nature of gravity itself.

Following a short flight to space, Euclid was to be released from the Falcon for a month-long voyage to its destination in solar orbit nearly 1 million miles (1.6 million km) from Earth – a position of gravitational stability between the Earth and sun called the Lagrange Point Two, or L2.

From there, Euclid is designed to explore the evolution of what astrophysicists refer to as the “dark universe,” using a wide-angle telescope to survey galaxies as far away as 10 billion light years from Earth across an immense expanse of the sky beyond our own Milky Way galaxy.

The 2-ton spacecraft is also equipped with instruments designed to measure the intensity and spectrums of infrared light from those galaxies in a way that will precisely determine their distances.

The mission focuses on two foundational components of the dark universe. One is dark matter, the invisible but theoretically influential cosmic scaffolding thought to give shape and texture to the cosmos. The other is dark energy, an equally enigmatic force believed to explain why expansion of the universe, as scientists learned in the 1990s, has long been accelerating.

The possibilities of the mission are reflected by the enormity of Euclid’s inquiry. Scientists estimate dark energy and dark matter together make up 95% of the cosmos, while ordinary matter that we can see accounts for just 5%.

EUROPEAN-LED MISSION

Euclid was designed and built entirely by ESA, with the U.S. space agency, NASA, supplying photo detectors for its near-infrared instrument. The Euclid Consortium overall comprises more than 2,000 scientists from 13 European nations, the U.S., Canada and Japan.

A decade in the making, the mission originally was to have flown to space by way of a Russian Soyuz rocket. But launch plans were switched to SpaceX, the California-based venture of Elon Musk, after war erupted in Ukraine, and because no slot was immediately available from Europe’s Arianne rocket program.

While the James Webb Space Telescope launched by NASA late last year allows astronomers to zero in on particular objects from the early universe with unprecedented clarity, Euclid is intended to expose the hidden fabric and mechanics of the cosmos by meticulously charting an enormous swath of the observable universe in 3-D, more than 1 billion galaxies in all.

Dark matter and dark energy cannot be detected directly, but their properties “are encoded in the shapes and positions of the galaxies,” said astrophysicist Jason Rhodes, lead scientist for Euclid at NASA’s Jet Propulsion Laboratory (NYSE:) near Los Angeles.

“Measuring the shapes and positions of galaxies allows us to infer the properties of dark matter and dark energy,” Rhodes said on Friday.

The data will be collected as Euclid maps the last 10 billion years of cosmic history across a third of the sky, gazing outward, and thus back in time, to an era of the universe astronomers call “cosmic noon,” when most stars were forming.

Observing subtle but distinct changes in the shapes and positions of galaxies over vast spans of time and space will reveal fine variations in cosmic acceleration, indirectly exposing the forces of dark energy, scientists say.

Euclid also will help reveal the nature of dark matter by measuring an effect called gravitational lensing, which produces faint distortions in galaxies’ visible shapes and is attributed to the presence of unseen material warping the fabric of space around it.

Through insights into dark energy and matter, scientists hope to better grasp the formation and distribution of galaxies across the so-called cosmic web of the universe.

Beyond Euclid’s primary objectives, it will provide “a gold mine for all fields of astronomy for several decades,” said Yannick Mellier, Euclid Consortium lead and astronomer at the Institut d’Astrophysique de Paris.

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Billionaire hedge fund manager Loeb shifts portfolio, eyes possible Republican U.S. election wins

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By Svea Herbst-Bayliss

NEW YORK (Reuters) – Billionaire investor Daniel Loeb adjusted his portfolio to capture a potential boom in corporate activity after the Nov. 5 U.S. election where he expects the Republican Party will chalk up wins.

Loeb believes the Republican presidential candidate, Donald Trump, is more likely to win the White House and that his party’s policies could help boost financial markets.

“The likelihood of a Republican victory in the White House has increased, which would have a positive impact on certain sectors and the market overall,” Loeb wrote to investors in his hedge fund Third Point on Thursday. Reuters obtained a copy of the letter.

Third Point has made stock and option purchases and increased positions that “could benefit from such a scenario” while also shifting the “portfolio away from companies that will not,” the letter said. He did not elaborate on what trades the firm has been making.

A Reuters/Ipsos poll this week found that Democratic Vice President Kamala Harris held a marginal lead of three percentage points over Trump as the two stayed locked in a tight race.

Even if Trump loses, Loeb expects the Republican Party will establish a majority in the U.S. Senate which he expects can limit the “economic downside of a “Blue Sweep” by the Democratic party.

Many large investors have expressed concern about the Democrats’ economic and fiscal proposals and Loeb wrote that the party’s plans could result in “crushing taxes,” and “stifling regulations” that could hurt growth.

Wall Street has long held out for a rebound in mergers and acquisitions activity and Loeb wrote that fewer regulations and the elimination of the current administration’s “activist antitrust stance” will “unleash productivity and a wave of corporate activity.”

Since January, Loeb’s flagship fund has returned roughly 14% with the broader stock market index gaining about 23.6%.

© Reuters. FILE PHOTO: Hedge fund manager Daniel Loeb speaks during a Reuters Newsmaker event in Manhattan, New York, U.S., September 21, 2016. REUTERS/Andrew Kelly/File Photo

Turning to the broader economy, Loeb said that interest rates still need to come down, at a time there is no evidence of a looming recession and as inflation is slowing.

But he also thinks markets should remain underpinned by healthy consumer spending and active levels of individual investing.

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NYMTM stock hits 52-week high at $24.55 amid market rally

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In a robust display of market confidence, New York Mortgage (NASDAQ:) Trust Inc Preferred (NYMTM) stock has soared to a 52-week high, reaching a price level of $24.55. This milestone underscores a significant period of growth for the company, which has witnessed an impressive 1-year change with an increase of 13.71%. Investors have shown increased interest in NYMTM, rallying behind the stock as it climbs to new heights, reflecting a strong performance in the face of market dynamics. The 52-week high serves as a testament to the company’s resilience and the positive sentiment surrounding its financial prospects.

InvestingPro Insights

New York Mortgage Trust Inc Preferred (NYMTM) has reached a significant milestone with its stock price hitting a 52-week high. This achievement is particularly noteworthy given the company’s current financial landscape. According to InvestingPro data, NYMTM boasts a substantial dividend yield of 8.07%, which aligns with one of the InvestingPro Tips highlighting that the company “pays a significant dividend to shareholders.” This attractive yield may be a key factor driving investor interest and contributing to the stock’s recent performance.

Despite the stock’s strong showing, it’s important to note that NYMTM faces some challenges. The company’s revenue for the last twelve months stands at $151.99 million, with a concerning operating income margin of -32.06%. This negative margin correlates with another InvestingPro Tip indicating that “analysts do not anticipate the company will be profitable this year.”

For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips that could provide valuable insights into NYMTM’s financial health and future prospects. These additional tips could be particularly useful for understanding the stock’s potential trajectory beyond its current 52-week high.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Isabella Bank Corp director Jill Bourland acquires shares worth $199

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In a recent transaction, Jill Bourland, a director at Isabella Bank Corp (OTC:ISBA), acquired additional shares of the company’s common stock. The transaction, dated October 16, 2024, involved the purchase of 9.5238 shares at a price of $21 per share, totaling approximately $199.

Following this acquisition, Bourland’s total direct ownership in Isabella Bank increased to 4,872.5363 shares. This figure includes shares acquired through the company’s quarterly dividend reinvestment program, as noted in the filing.

Isabella Bank Corp, headquartered in Mount Pleasant, Michigan, operates as a state commercial bank. The bank continues to focus on providing financial services to its local community and beyond.

In other recent news, Isabella Bank Corp revealed a potential loss of around $1.6 million due to negative balances in deposit accounts linked to a single customer. The total exposure to this customer, including loans and lines of credit, amounts to $4.0 million. Piper Sandler maintained a Neutral rating on the bank’s shares following this disclosure. The bank also declared a third-quarter cash dividend of $0.28 per common share. In addition, Piper Sandler raised its price target for Isabella Bank from $20.00 to $22.00 and increased its earnings per share estimates for 2024 and 2025 to $1.80 and $2.10, respectively. These recent developments underscore the bank’s commitment to enhancing shareholder value and its resilience in navigating challenging situations.

InvestingPro Insights

As Jill Bourland increases her stake in Isabella Bank Corp (OTC:ISBA), investors may find additional context in the company’s financial metrics and market performance. According to InvestingPro data, Isabella Bank currently boasts a market capitalization of $158.11 million and trades at a price-to-earnings ratio of 9.81, suggesting a potentially attractive valuation relative to earnings.

The bank’s dividend policy stands out as a key strength. An InvestingPro Tip highlights that Isabella Bank has maintained dividend payments for 17 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by the current dividend yield of 5.27%, which may be particularly appealing to income-focused investors in the current market environment.

Despite a challenging economic backdrop, Isabella Bank remains profitable, with an operating income margin of 26.1% for the last twelve months as of Q2 2024. However, another InvestingPro Tip indicates that net income is expected to drop this year, which investors should monitor closely.

It’s worth noting that Isabella Bank’s stock is trading near its 52-week high, with the current price at 95.51% of that peak. This performance aligns with the company’s recent positive price returns, including a 20.91% total return over the past six months.

For investors seeking a deeper understanding of Isabella Bank’s financial health and market position, InvestingPro offers additional insights with over 10 more tips available for this stock.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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