Stock Markets
Baby in Gaza saved from womb of mother killed in Israeli strike
By Mohammad Salem and Nidal al-Mughrabi
RAFAH, Gaza Strip/CAIRO (Reuters) -A baby girl was delivered from the womb of a Palestinian killed along with her husband and daughter by an Israeli attack in the Gaza city of Rafah, where 19 people died overnight in intensified strikes, Palestinian health officials said.
The dead, killed in hits on two houses, included 13 children from one family, they said.
The baby, weighing 1.4 kg (3.09 lb)and delivered in an emergency C-section, was stable and improving gradually, said Mohammed Salama, a doctor caring for her.
Her mother, Sabreen Al-Sakani, had been 30 weeks pregnant.
The baby was placed in an incubator in a Rafah hospital alongside another infant, with the words “The baby of the martyr Sabreen Al-Sakani” written on tape across her chest.
Sakani’s young daughter Malak, who was killed in the strike, had wanted to name her new sister Rouh, meaning spirit in Arabic, said her uncle Rami Al-Sheikh. “The little girl Malak was happy that her sister was coming to the world,” he said.
The baby would stay in hospital for three to four weeks, said Salama, the doctor. “After that we will see about her leaving, and where this child will go, to the family, to the aunt or uncle or grandparents. Here is the biggest tragedy. Even if this child survives, she was born an orphan,” he said.
The 13 children were killed in a strike on the second home, belonging to the Abdel Aal family, according to Palestinian health officials. Two women were also killed in that strike.
Asked about the casualties in Rafah, an Israeli military spokesperson said various militant targets were struck in Gaza including military compounds, launch posts and armed people.
“Did you see one man in all of those killed?” said Saqr Abdel Aal, a Palestinian man whose family were among the dead, grieving over the body of a child in a white shroud.
“All are women and children,” he said. “My entire identity has been wiped out, with my wife, children and everyone.”
Mohammad al-Behairi said his daughter and grandchild were still under the rubble. “It’s a feeling of sadness, depression, we have nothing left in this life to cry for, what feeling shall we have? When you lose your children, when you lose the closest of your loved ones, how will your feeling be?” he said.
‘WE ARE TRAPPED’
Over half of Gaza’s 2.3 million people have crowded into Rafah, seeking shelter from the Israeli offensive that has laid waste to much of the Gaza Strip over the last six months.
Israel is threatening a ground offensive into the area, where Israeli Prime Minister Benjamin Netanyahu has said fighters from the militant group Hamas must be eliminated to ensure Israel’s victory in the war.
President Joe Biden has urged Israel not to launch a large-scale offensive in Rafah to avoid more Palestinian civilian casualties.
Palestinian health authorities say more than 34,000 people have been killed in Israel’s assault, which began after Hamas fighters attacked Israel on Oct. 7, killing some 1,200 people and abducting another 253, according to Israeli tallies.
The Palestinian health ministry said on Sunday that Israeli military strikes killed 48 Palestinians and wounded 79 others across the Gaza Strip in the past 24 hours.
The Palestinian Civil Emergency Service said teams recovered 60 bodies from the Nasser Hospital in Khan Younis in the southern of the enclave, weeks after Israeli army forces retreated from the medical complex. That raised to 210 the number of bodies it had dug out from the hospital yards since April 12.
The service said in a statement there were still around 2,000 missing persons under the rubble in Khan Younis and 1,000 in the central areas of the Gaza Strip, whose bodies could not be extracted because of a lack of heavy equipment and machinery
for rubble removal.
The Israeli military had no immediate comment.
In the larger of the two Palestinian territories, the Israeli-occupied West Bank, Israel said its soldiers opened fire at three Palestinians who attacked them and the Palestinian health ministry said all three had died. Violence has flared in the West Bank in recent days.
On Friday, Argus increased its stock price target on Rithm Capital Corp. (NYSE: RITM) to $13.00, up from the previous $12.00, while reaffirming its Buy rating on the stock. The firm highlighted the company’s ongoing transformation and expansion efforts as the rationale behind the revised target price.
Rithm Capital, which rebranded from New Residential Investment Corp. in August 2022, has since transitioned to internal management after previously being managed by Fortress Investment Group. This change is part of a broader transformation of the company’s business model initiated following the financial crisis in late March 2020.
The company has been actively growing its mortgage servicing operations and seizing new debt-related investment opportunities. In its expansion efforts, Rithm Capital has acquired a 50% interest in GreenBarn Investment Group, a commercial real estate equity and debt investment management firm.
Further bolstering its portfolio, Rithm Capital has also made significant acquisitions, including purchasing $1.4 billion worth of Marcus consumer loans from Goldman Sachs for $145 million. Moreover, the company has completed the acquisition of Computershare Mortgage Services Inc. and its affiliates, including Specialized Loan Servicing LLC (SLS), for an approximate total of $720 million.
Completing its notable transactions, Rithm Capital finalized the acquisition of the $33 billion alternative asset manager Sculptor Capital Management (NYSE:) in the fourth quarter of 2023. These strategic moves have contributed to the firm’s positive outlook on Rithm Capital’s stock and its increased price target.
InvestingPro Insights
In light of Argus’s stock recent price target increase for Rithm Capital Corp. (NYSE: RITM), InvestingPro data further supports the optimistic outlook. Rithm Capital’s market capitalization stands at a robust $5.55 billion, while maintaining an attractive P/E ratio of 7.41, indicating that the stock may be undervalued relative to its earnings.
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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
On Friday, JPMorgan upheld its Overweight rating on CK Infrastructure Holdings (1038:HK) (OTC: CKISY) with a consistent price target of HK$50.00. The firm’s analysis was based on a review of the company’s financial year 2023 results and current operating trends. Adjustments were made to the earnings forecasts for the years 2024 and 2025, with a slight reduction for 2024 by 2% and an increase for 2025 by 2%. These revisions take into account the influence of regulatory changes, inflation, and fluctuating exchange rates on the company’s regulated assets, particularly in the United Kingdom, Australia, and other regions.
The updated model reflects the latest developments and anticipates the potential financial impact on CK Infrastructure. The firm has decided to roll forward its price target to June 2025, while maintaining the previous target of HK$50. The Overweight rating suggests that JPMorgan continues to view the stock favorably in comparison to the sector average.
CK Infrastructure Holdings, which operates a diversified portfolio of infrastructure businesses, has been assessed for its performance and outlook in light of various external factors. The company’s exposure to regulatory resets and economic conditions in different geographies necessitates a nuanced understanding of its earnings potential.
The revised earnings estimates are a direct result of the firm’s comprehensive evaluation of the company’s regulated assets. These assets, which are subject to oversight by regulatory bodies, can be affected by policy changes and economic shifts, such as inflation and currency exchange rates.
JPMorgan’s reaffirmation of the Overweight rating indicates confidence in CK Infrastructure’s ability to navigate the complexities of its operating environment. The price target of HK$50 remains unchanged, signaling the firm’s belief in the company’s value proposition and its prospects for the future.
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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
On Friday, Argus maintained a Buy rating on Ashland Inc . (NYSE: NYSE:) and increased the stock’s price target to $118 from $109. This adjustment suggests a potential total return of approximately 21%, including dividends, based on the current share prices.
The specialty chemicals and additives provider has experienced underwhelming operational and financial performance over recent quarters, including the second quarter of 2024. This was attributed to slower economic growth in key regions such as China, Europe, and parts of Asia. These areas faced challenges due to soft customer demand and ongoing inventory destocking by suppliers, which adversely affected Ashland’s revenue and profit margins.
Despite these challenges, there have been positive signs in the last quarter indicating a shift in market conditions. Ashland’s management has reported a gradual increase in demand across most of the company’s end markets.
According to Argus, this improvement is a result of the destocking cycle nearing its end and customer demand beginning to rise, which are seen as favorable trends for Ashland’s future growth.
The revised stock price target reflects the analyst’s confidence in Ashland’s recovery trajectory as the market dynamics that previously hindered the company’s performance are starting to reverse. The upward revision in the price target is based on the expectation of a continued recovery in customer demand patterns and the conclusion of inventory destocking.
Investors and market watchers will be monitoring Ashland’s progress closely, as the company aims to capitalize on the improving demand in its various markets and work towards delivering value to its shareholders.
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InvestingPro Insights
As Argus maintains a positive outlook on Ashland Inc. (NYSE: ASH), highlighting the potential for a 21% total return, InvestingPro data provides additional insights into the company’s financial health and market performance.
Ashland’s management’s aggressive share buyback strategy and a high shareholder yield are noteworthy, as noted by InvestingPro Tips. Furthermore, the company’s consistent dividend growth, with dividends raised for five consecutive years and maintained for 54 years, underscores its commitment to shareholder returns.
From a market perspective, Ashland’s stock is trading near its 52-week high, with analysts predicting profitability for the year. The company’s strong liquidity position, with liquid assets surpassing short-term obligations, is reassuring for investors.
Key financial metrics include a market capitalization of $4.98 billion, a P/E ratio of 26.25, and a dividend yield of 1.64%. Despite a decline in revenue growth over the last twelve months, the stock has experienced a significant price uptick, with a 29.41% total return over the last six months.
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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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