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Turkey’s Erdogan says to discuss F-35 jets with Biden in Glasgow – Anadolu

ANKARA (Reuters) – Turkish President Tayyip Erdogan said problems over the F-35 jet programme will be the main topic at his meeting with U.S. President Joe Biden later in Glasgow, state media reported on Wednesday.

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Turkey's Erdogan says to discuss F-35 jets with Biden in Glasgow - Anadolu
© Reuters. FILE PHOTO: Turkish President Tayyip Erdogan sits during an interview with Reuters in Manhattan, New York, U.S., September 25, 2018. REUTERS/Andrew Kelly

ANKARA (Reuters) – Turkish President Tayyip Erdogan said problems over the F-35 jet programme will be the main topic at his meeting with U.S. President Joe Biden later in Glasgow, state media reported on Wednesday.

Turkey, a manufacturer and buyer of the F-35s, was expelled from the programme over its purchase of Russian defences. It says its removal is unjust and has demanded reimbursement for a $1.4-billion investment in the programme.

Erdogan has said Washington offered Ankara a package of F-16 jets and modernisation kits in exchange for the payment, but the United States has said it offered no such financial plan.

“The information we received is that there is a payment plan of some sort with them,” state-run Anadolu news agency cited him as telling reporters on a flight from Azerbaijan.

“Whether this is true or not, we will find out from them. It will be good for me to discuss this with Mr. Biden at the highest level. If so, we will go for a deal in that regard.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Stock Markets

Cisco vs. NETGEAR: Which Networking Stock is a Better Buy?

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Cisco vs. NETGEAR: Which Networking Stock is a Better Buy?
Cisco vs. NETGEAR: Which Networking Stock is a Better Buy?

Despite rising input costs for producing networking equipment and the semiconductor chip shortage, the growing demand from remote working structures, the passage of the infrastructure bill, and the deployment of 5G technology should keep the wheels of the networking industry turning. And prominent networking companies Cisco (CSCO) and NETGEAR (NTGR) should benefit from these industry tailwinds. But which of these stocks is a better buy now? Read more to find out.Cisco Systems, Inc. (NASDAQ:) and NETGEAR, Inc. (NTGR) are two popular companies in the networking industry. CSCO San Jose, Calif., designs and manufactures Internet Protocol (IP) based networking products and services related to communications and information technology worldwide. The company sells its products and services directly and through systems integrators, service providers, resellers, and distributors. In comparison, NTGR, which is also headquartered in San Jose, designs, develops, and markets networking solutions and smart connected products for consumers, businesses, and service providers. It offers network-attached storage devices, wireless controllers and access points, unified storage products, Internet protocol (IP) security cameras, and home automation devices and services. It also offers value-added services that include technical support, parental controls, and cybersecurity protection.

The surging demand for advanced, cloud-based networking products and solutions from residential, commercial, and industrial areas since the pandemic, due to the continued adoption of hybrid working models, has incentivized networking companies to deliver more efficiency in their automation, analytics, and security solutions. The recent passage of a bipartisan infrastructure bill that provides significant funding for networking and 5G companies is likely to contribute to the industry’s long-term growth. The global network infrastructure market is expected to grow at 3.9% CAGR to $229.74 billion by 2026. So, both CSCO and NTGR should benefit.

But while NTGR’s shares have declined 18.9% in price over the past year, CSCO has surged 30.6%. Also, CSCO is a clear winner with 5.4% gains versus NTGR’s negative returns in terms of their past six months’ performance. But which of these stocks is a better pick now? Let us find out.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Should You Buy the Dip in Autodesk?

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Should You Buy the Dip in Autodesk?
© Reuters. Should You Buy the Dip in Autodesk?

Software company Autodesk (NASDAQ:) topped analysts’ expectations for revenue and earnings in its last reported quarter. However, its business outlook for the next quarter fell short of expectations, prompting a significant price decline in its stock. So, given the uncertainty surrounding the company’s performance in the coming months, is the current price dip in its stock an attractive buying opportunity? Let’s discuss.Autodesk, Inc. (ADSK) is a software and services company that specializes in 3D design, engineering, and entertainment. The San Rafael, Calif.-based company’s technology is used in architecture, engineering, building, product design, manufacturing, media, and entertainment, allowing innovators to tackle big and small challenges.

The stock has declined 18.9% in price over the past three months and 20% over the past month. Closing yesterday’s trading session at $254.19, the stock is currently trading 26.2% below its 52-week high of $344.39, which it hit on August 24, 2021.

Though the company reported robust revenue and earnings in its last reported quarter, it failed to meet analysts’ expectations for its fourth quarter business outlook. This has caused the stock’s price to plummet over the past week. In addition, because the company expects rising inflationary pressure to affect its future performance, the stock could remain under pressure in the near term.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Exclusive-Mitsubishi looks to sell California products terminal and trading arm

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Exclusive-Mitsubishi looks to sell California products terminal and trading arm
© Reuters. FILE PHOTO: The signboard of Mitsubishi Corp is pictured at its head office in Tokyo, Japan August 2, 2017. REUTERS/Kim Kyung-Hoon/File Photo GLOBAL BUSINESS WEEK AHEAD

By Shariq Khan and Laura Sanicola

(Reuters) – Mitsubishi Corp is looking to sell a fuel terminal that provides transportation fuels which meet California’s stringent emissions requirements, two sources familiar with the matter told Reuters on Wednesday.

The company is working with Ernst and Young’s energy advisory group to market its 600,000-barrel Petro-Diamond terminal in Long Beach, California, and its corresponding fuel trading division, the sources said.

Mitsubishi is seeking either a joint venture partner for Petro-Diamond or an outright sale, the sources added.

The terminal is the only U.S. refined products asset owned by Mitsubishi, Japan’s biggest trading house by sales.

Mitsubishi previously had a sizable trading operation in Singapore, also named Petro-Diamond (PDS). The company began winding down in 2020 after it said a PDS trader had lost $320 million in unauthorized transactions in derivatives.

Mitsubishi could still scrap the sale of the U.S. terminal if it fails to find a suitable buyer, they said. A target valuation for Petro-Diamond could not be determined.

EY and Mitsubishi did not return requests for comment.

PetroDiamond was formed in 1983 and markets and distributes on-spec transportation fuels in Southern California including CARB gasoline, low sulfur diesel, ethanol and marine fuels.

Last year, an executive order required that by 2035 all new cars and passenger trucks sold in California be zero-emission vehicles, and that the state reduce the dirtiest forms of oil extraction.

Royal Dutch Shell (LON:) Plc has been looking for a buyer for Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp (NYSE:), Reuters reported in July.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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