Connect with us
  • tg

Stock Markets

Israel pounds Gaza, killing dozens, as fighting rages

letizo News

Published

on

By Nidal al-Mughrabi

CAIRO (Reuters) -Israeli forces pounded Rafah in southern Gaza on Friday, as well as other areas across the enclave, killing at least 45 Palestinians as troops engaged in close-quarter combat with Hamas militants, residents and Israel’s military said.

Residents said the Israelis appeared to be trying to complete their capture of Rafah, which borders Egypt and has been the focus of an Israeli assault since early May.

Tanks were forcing their way into the western and northern parts of the city, having already captured the east, south and centre.

Firing from planes, tanks and ships off the coast drove a new wave of displacement from the city, which had been sheltering more than a million displaced people, most of whom have now had to flee again.

The Gaza health ministry said at least 25 Palestinians had been killed in Mawasi in western Rafah and 50 wounded. Palestinians said a tank shell had hit a tent housing displaced families.

“Two tanks climbed a hilltop overseeing Mawasi and they sent balls of fire that hit the tents of the poor people displaced in the area,” one resident told Reuters over a chat app.

Palestinian health officials said at least 45 Palestinians had been killed in Israeli strikes on Friday.

The Israeli military said it was looking into the reported strikes on Mawasi and a separate incident in Gaza City.

It said its forces were conducting “precise, intelligence-based” actions in the Rafah area, where troops were involved in close-quarter combat and had located tunnels used by militants.

The military also said that over the past week its forces had targeted a university that it said served as a Hamas headquarters from which militants had fired on its soldiers, and had found weapons and barrel bombs. It did not name the university.

In the central area of Nusseirat, the military said soldiers had killed dozens of militants over the past week and found a weapons depot containing mortar bombs and military equipment belonging to Hamas.

Some residents said the Israeli onslaught on Rafah had intensified in the previous two days and that the sounds of explosions and gunfire had hardly stopped.

“Last night was one of the worst nights in western Rafah: drones, planes, tanks, and naval boats bombarded the area. We feel the occupation is trying to complete the control of the city,” said Hatem, 45, reached by text message.

“They are taking heavy strikes from the resistance fighters, which may be slowing them down.”

STRIKES ON KHAN YOUNIS AND GAZA CITY

More than eight months into the war in Gaza, Israel’s advance is now focused on the two last areas its forces had yet to seize: Rafah on Gaza’s southern edge and the area surrounding Deir al-Balah in the centre.

“The entire city of Rafah is an area of Israeli military operations,” Ahmed Al-Sofi, the mayor of Rafah, said in a statement carried by Hamas media on Friday.

“The city is living through a humanitarian catastrophe and people are dying inside their tents because of Israeli bombardment.”

Sofi said no medical facility was functioning in the city, and that remaining residents and displaced families lacked the minimum daily needs of food and water.

Palestinian and U.N. figures show that fewer than 100,000 people may have remained in the far western side of the city, which had been sheltering more than half of Gaza’s 2.3 million people before the Israeli assault began in early May.

In nearby Khan Younis, an Israeli air strike on Friday killed three people, including a father and son, medics said.

In parallel, Israeli forces continued a new push back into some Gaza City suburbs in the north of the enclave, where they fought with Hamas-led militants.

Residents said the Israelis had destroyed many homes in the heart of Gaza City on Thursday.

On Friday, an Israeli air strike on a Gaza City municipal facility killed five people, including four municipal workers, the territory’s Civil Emergency Service said. Rescue teams were searching the rubble for more missing victims.

In the nearby Beach camp, an Israeli air strike on a house killed at least seven people, medics said.

© Reuters. A Palestinian woman repairs a classroom in a UNRWA school where she lives, after the air strike on a neighbouring house to the school in Khan Younis, in the southern Gaza Strip, June 21, 2024. REUTERS/Mohammed Salem

Israel’s ground and air campaign was triggered when Hamas-led militants stormed into southern Israel on Oct. 7, killing around 1,200 people and seizing more than 250 hostages, according to Israeli tallies.

The offensive has left Gaza in ruins, killed more than 37,400 people, according to Palestinian health authorities, and left nearly the entire population homeless and destitute.

(Reporting and writing by Nidal al-MughrabiEditing by Peter Graff, Sharon Singleton and Kevin Liffey)

Stock Markets

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

letizo News

Published

on

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.

Continue Reading

Stock Markets

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

letizo News

Published

on

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.

Continue Reading

Stock Markets

Isabella Bank Corp director Jill Bourland acquires shares worth $199

letizo News

Published

on

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.

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved