Latest news with #Wood
The Advertiser
4 hours ago
- Automotive
- The Advertiser
NZ duo withstand the heat to top fiery Darwin practice
Kiwi drivers Andre Heimgartner and Ryan Wood have kept their cool to set the pace in a fiery first day of Supercars action in Darwin. Heimgartner notched the fastest lap on Friday, steering his Brad Jones Racing (BJR) Camaro around the Hidden Valley Raceway track in one minute and 6.631 seconds during the second practice session. Wood trailed Heimgartner by six-hundredths of a second, with reigning series champion Will Brown just three ten-thousandths of a second behind him. There was little to separate the grid, with less than seven-tenths of a second between first and 25th. It was a promising outing for BJR, who sit third from bottom on the team standings. Heimgartner's teammates Jaxon Evans, Macauley Jones and Bryce Fullwood all managed top-10 times, after the trio also showed good pace the previous round in Perth. "The last couple of rounds I was the only one that wasn't, so it's good to turn that around," Heimgartner said. Despite a disappointing showing in the last couple of rounds, the 30-year-old remains in the top 10 on the championship standings with 647 points, trailing leader Broc Feeney by 543. Wood had earlier topped the pace in the opening session, which ended with flames breaking out around the devilish opening turn. Drivers tested the limits of Hidden Valley's challenging 2.9km circuit, with a procession of racers overshooting the long, loopy left-hander at turn one throughout the day. A patch of parched grass was set alight after Brown ran his Camaro off the track there towards the end of the session. Wood outpaced nearest challenger Feeney by more than two-tenths of a second in the first session with a lap of one minute and 7.059 seconds. With temperatures expected to run into the 30s throughout the weekend - and exceeding 50 degrees inside the cars - drivers' endurance will be tested as much as their driving abilities. Feeney was the first driver to run off on turn one, but recovered well. The 22-year-old won the last two races in Perth and showed promising pace - also finishing eighth-fastest in practice two - as he looks to extend his 72-point gap over Triple Eight teammate Brown at the top of the leaderboard. Darwin is a happy hunting ground for Feeney, having won both races at the racetrack last year and another race there in 2023. Drivers will return for back-to-back qualifying sessions from 8.35am (ACST) on Saturday, ahead of two 120km races. The final 200km race of the weekend on Sunday will determine who takes on the Darwin Triple Crown trophy. Kiwi drivers Andre Heimgartner and Ryan Wood have kept their cool to set the pace in a fiery first day of Supercars action in Darwin. Heimgartner notched the fastest lap on Friday, steering his Brad Jones Racing (BJR) Camaro around the Hidden Valley Raceway track in one minute and 6.631 seconds during the second practice session. Wood trailed Heimgartner by six-hundredths of a second, with reigning series champion Will Brown just three ten-thousandths of a second behind him. There was little to separate the grid, with less than seven-tenths of a second between first and 25th. It was a promising outing for BJR, who sit third from bottom on the team standings. Heimgartner's teammates Jaxon Evans, Macauley Jones and Bryce Fullwood all managed top-10 times, after the trio also showed good pace the previous round in Perth. "The last couple of rounds I was the only one that wasn't, so it's good to turn that around," Heimgartner said. Despite a disappointing showing in the last couple of rounds, the 30-year-old remains in the top 10 on the championship standings with 647 points, trailing leader Broc Feeney by 543. Wood had earlier topped the pace in the opening session, which ended with flames breaking out around the devilish opening turn. Drivers tested the limits of Hidden Valley's challenging 2.9km circuit, with a procession of racers overshooting the long, loopy left-hander at turn one throughout the day. A patch of parched grass was set alight after Brown ran his Camaro off the track there towards the end of the session. Wood outpaced nearest challenger Feeney by more than two-tenths of a second in the first session with a lap of one minute and 7.059 seconds. With temperatures expected to run into the 30s throughout the weekend - and exceeding 50 degrees inside the cars - drivers' endurance will be tested as much as their driving abilities. Feeney was the first driver to run off on turn one, but recovered well. The 22-year-old won the last two races in Perth and showed promising pace - also finishing eighth-fastest in practice two - as he looks to extend his 72-point gap over Triple Eight teammate Brown at the top of the leaderboard. Darwin is a happy hunting ground for Feeney, having won both races at the racetrack last year and another race there in 2023. Drivers will return for back-to-back qualifying sessions from 8.35am (ACST) on Saturday, ahead of two 120km races. The final 200km race of the weekend on Sunday will determine who takes on the Darwin Triple Crown trophy. Kiwi drivers Andre Heimgartner and Ryan Wood have kept their cool to set the pace in a fiery first day of Supercars action in Darwin. Heimgartner notched the fastest lap on Friday, steering his Brad Jones Racing (BJR) Camaro around the Hidden Valley Raceway track in one minute and 6.631 seconds during the second practice session. Wood trailed Heimgartner by six-hundredths of a second, with reigning series champion Will Brown just three ten-thousandths of a second behind him. There was little to separate the grid, with less than seven-tenths of a second between first and 25th. It was a promising outing for BJR, who sit third from bottom on the team standings. Heimgartner's teammates Jaxon Evans, Macauley Jones and Bryce Fullwood all managed top-10 times, after the trio also showed good pace the previous round in Perth. "The last couple of rounds I was the only one that wasn't, so it's good to turn that around," Heimgartner said. Despite a disappointing showing in the last couple of rounds, the 30-year-old remains in the top 10 on the championship standings with 647 points, trailing leader Broc Feeney by 543. Wood had earlier topped the pace in the opening session, which ended with flames breaking out around the devilish opening turn. Drivers tested the limits of Hidden Valley's challenging 2.9km circuit, with a procession of racers overshooting the long, loopy left-hander at turn one throughout the day. A patch of parched grass was set alight after Brown ran his Camaro off the track there towards the end of the session. Wood outpaced nearest challenger Feeney by more than two-tenths of a second in the first session with a lap of one minute and 7.059 seconds. With temperatures expected to run into the 30s throughout the weekend - and exceeding 50 degrees inside the cars - drivers' endurance will be tested as much as their driving abilities. Feeney was the first driver to run off on turn one, but recovered well. The 22-year-old won the last two races in Perth and showed promising pace - also finishing eighth-fastest in practice two - as he looks to extend his 72-point gap over Triple Eight teammate Brown at the top of the leaderboard. Darwin is a happy hunting ground for Feeney, having won both races at the racetrack last year and another race there in 2023. Drivers will return for back-to-back qualifying sessions from 8.35am (ACST) on Saturday, ahead of two 120km races. The final 200km race of the weekend on Sunday will determine who takes on the Darwin Triple Crown trophy.
Business Insider
5 hours ago
- Business
- Business Insider
TD Cowen Keeps Their Buy Rating on Workday (WDAY)
In a report released yesterday, Derrick Wood from TD Cowen maintained a Buy rating on Workday (WDAY – Research Report). The company's shares closed last Wednesday at $236.88. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Wood is a 5-star analyst with an average return of 13.6% and a 59.07% success rate. Wood covers the Technology sector, focusing on stocks such as Oracle, ServiceNow, and Atlassian. Currently, the analyst consensus on Workday is a Moderate Buy with an average price target of $296.93. Based on Workday's latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $2.24 billion and a net profit of $68 million. In comparison, last year the company earned a revenue of $1.98 billion and had a net profit of $107 million
Economic Times
8 hours ago
- Business
- Economic Times
Jefferies' Chris Wood sounds alarm on India's $13 billion stock sale spree, rejigs portfolio
Chris Wood, the well-known India bull at Jefferies, is recognized in emerging market circles for his steadfast optimism. Chris Wood, the prominent India bull at Jefferies known in emerging market circles for his unwavering optimism, is flashing warning signals as a blistering rally has pushed valuations to uncomfortable levels and triggered a $13 billion selloff by promoters and other strategic investors cashing in on sky-high stock prices. The veteran strategist's cautionary tone comes as equity supply has surged to $7.2 billion last month and $6 billion so far in June, a pace that threatens to derail the market's impressive recovery from early April lows. "The rally in the market means that valuations have become an issue again, most particularly in the mid-cap space," Wood said in his latest Greed & Fear newsletter. "This is also why corporates are again placing equity to take advantage of such valuations." The numbers paint a stark picture of just how stretched Indian equities have become. The Nifty now trades at 22.2 times 12-month forward earnings after surging 14.1% from its April 7 low, while the Nifty Mid-Cap 100 Index commands an even steeper 27.1 times forward earnings following a 23.7% gain from the same period. Wood's warning carries particular weight given his reputation as one of the most bullish foreign voices on Indian markets. His shift to caution underscores the gravity of the current supply-demand imbalance. "It is this supply which poses the main risk to the market," he warned, noting that equity supply was running at around $7 billion monthly prior to the correction that began in late September last year. Also Read | Most expensive Nifty stock ever? Eternal at 455 PE dares you to doubt the hype The scale of the selloff has been staggering. Promoters, private equity, and venture capital investors have offloaded over Rs 40,000 crore worth of stakes in just two weeks of June, driven by daily large block and bulk deals that are set to surpass last month's Rs 43,000 crore selling total. Major transactions have dominated headlines: Vishal Mega Mart's promoter sold a 19.6% stake to mutual funds in a Rs 10,220 crore bulk deal, Bajaj Finserv's promoter offloaded approximately Rs 5,500 crore worth of shares, and Reliance Industries executed a Rs 9,580 crore stake sale in Asian Paints. Just two days ago, Hindustan Zinc's promoter Vedanta sold about 66.7 million shares—representing 1.6% equity—in a block deal valued at Rs 3,028 crore. Also Read | Promoter, PE & VC selling crosses Rs 40,000 crore in 2 weeks: Red flag for Nifty bulls? Despite the supply concerns, Wood remains constructive on certain themes. He noted that market focus has rotated toward consumption rather than investment since the February 1 Union Budget announcement, helped by a more dovish monetary policy stance from new RBI Governor Sanjay Malhotra compared to his predecessor Shaktikanta Das. "The Indian stock market has enjoyed a decent rally off the early April low, helped by evidence of a much more dovish RBI governor," Wood observed, pointing to consumer finance stocks that have rallied sharply. Bajaj Finance, for example, has surged 35% year-to-date. Wood maintains his bullish stance on real estate, keeping a 19% weighting in property developers in his India long-only portfolio despite the BSE Realty Index climbing 35% from its April 7 low. The sector remains 14% below its June 2024 peak, suggesting further upside potential.A recent report by Jefferies' India property analyst Abhinav Sinha forecasts pre-sales growth of the top seven covered developers to accelerate to 22% year-over-year in FY26 after slowing to 17% in FY25—a four-year low."Greed & Fear also believes that the property market, now in its 5th year of an upturn, has further to run," Wood said. Wood is making tactical adjustments to his India portfolio this week, removing investments in Larsen & Toubro, Thermax, and Godrej Properties while adding TVS Motor, Home First Finance, and Manappuram Finance with four percentage points each. He's also boosting existing positions in PB Fintech and Bharti Airtel by one percentage point each. The moves reflect a shift away from traditional investment themes toward more consumption-oriented plays, aligning with his view that the market focus has rotated from capex to consumer India's equity markets navigate this treacherous terrain of stretched valuations and relentless supply, Wood's warning serves as a sobering reminder that even the most bullish investors are taking notice of the mounting risks.
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Business Standard
13 hours ago
- Business
- Business Standard
Valuations, fresh equity supply key risk to Indian stock market: Chris Wood
High valuations, especially in the midcap space, coupled with fresh supply of equity via the initial public offers (IPOs) are the main risks to the Indian stock markets, cautioned Christopher Wood, global head of equity strategy at Jefferies in his recent note to investors, GREED & fear. The rally in the market (since recent lows), Wood cautions, means that valuations have become an issue again, most particularly in the mid-cap space. The Nifty Index now trades at 22.2x 12-month forward earnings after rising by 14.1 per cent from its April 7 low. While the Nifty Mid-Cap 100 Index trades at 27.1x 12-month forward earnings, following a 23.7 per cent gain from its April 7 low. 'This is also why corporates are again placing equity to take advantage of such valuations. The equivalent of $7.2 billion of equity supply was raised last month and $6 billion so far in June. It is this supply which poses the main risk to the market. Equity supply was running at around $7 billion a month prior to the correction, which began in late September last year,' Wood wrote. Mid, smallcaps steal the show From April 7 levels, while the Nifty 50 has rallied nearly 12 per cent till date, the up move in the mid-and smallcap indices has been sharper. The Nifty Midcap 150 index and the Nifty Smallcap 250 indexes have surged nearly 17 per cent and 18.5 per cent respectively during this period, ACE Equity data shows. Meanwhile, primary market activity is set to rebound in the coming week with at least four companies planning to raise a total of about ₹15,000 crore ($1.7 billion) via IPOs, reports suggest. Some prominent ones include Kalpataru, Ellenbarrie Industrial Gases, and Globe Civil Projects. HDB Financial Services Ltd., a unit of India's biggest private lender HDFC Bank, is also planning to launch its $1.4 billion IPO on June 25, reports suggest. This will be one of the biggest IPOs since Hyundai Motor India IPO in October 2024 that raised over Rs 27,000 crore. Capex theme The focus in the Indian market since the budget announcement on February 1, Wood wrote, has rotated to playing consumption rather than investment, helped by the monetary easing context with consumer finance stocks rallying sharply. The property market, now in its 5th year of an upturn, has further to run, he believes. 'Pre-sales growth of the top seven developers covered by Jefferies is forecast to accelerate to 22 per cent YoY in FY26 after slowing to 17 per cent YoY in fiscal year 2024-25 (FY25) ended March 31, a four year low. A lower mortgage rate, now at 8 per cent and expected to fall to 7.5 per cent when the latest Reserve Bank of India (RBI) rate cuts are passed on, should help boost sales in the affordable and mid-income segments,' he said. Portfolio rejig Wood has also rejigged his India portfolio, with the investments in Larsen & Toubro, Thermax and Godrej Properties will be removed and replaced by investments in TVS Motor, Home First Finance and Manappuram Finance, with four percentage points each. An additional one percentage point each will be added to the existing investments in PolicyBazaar and Bharti Airtel, he said. The investment in Larsen & Toubro in the global long-only equity portfolio has been replaced by an investment in Saint-Gobain, a French construction materials company. In the Asia ex-Japan long-only portfolio, too, the investment in Larsen & Toubro will be removed and replaced by an investment in PolicyBazaar, he said.
Winnipeg Free Press
17 hours ago
- Sport
- Winnipeg Free Press
Nationals stop 11-game skid as Wood hits second 2-run homer in 11th for 4-3 win over Rockies
WASHINGTON (AP) — James Wood hit a pair of two-run homers, including a game-winning shot in the 11th inning, and the Washington Nationals snapped their 11-game losing streak Thursday with a 4-3 victory over the Colorado Rockies. With one out and automatic runner Riley Adams on third, Wood drove a 1-0 pitch from Seth Halvorsen (1-2) to center field for his 20th home run — giving the Nationals only their third win in 17 games this month. It was the fourth multihomer game for the second-year outfielder. He did it twice last September and finished with nine homers as a rookie. CJ Abrams singled leading off the fourth against Rockies rookie starter Chase Dollander, and Wood homered to center for a 2-0 lead. Colorado tied it 2-all in the fifth against starter Trevor Williams. Orlando Arcia singled with one out and was awarded third base after second baseman Luis García Jr. caught a liner for the second out but bounced a throw off Arcia and out of play trying to catch him off first base. Jordan Beck doubled in a run and Mickey Moniak added an RBI single. Ryan McMahon singled and went to third on a double by Brenton Doyle to chase Williams with one out in the sixth. Cole Henry got the final two outs of the inning to keep the score tied. Williams allowed two runs and eight hits in 5 1/3 innings. Ryan Loutos (1-0) gave up a go-ahead single to Michael Toglia in the 11th before retiring the next three batters for his first career win. Dollander permitted two runs and six hits in six innings. Key moment Henry came in with one out and runners on second and third in the sixth and struck out both Sam Hilliard and Arcia swinging to keep it tied. Key stat Eight of Colorado's 17 wins have come this month. Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. Up next The Nationals hadn't announced a starter for Friday's series opener in Los Angeles against the Dodgers and LHP Clayton Kershaw (2-0, 3.25 ERA). LHP Austin Gomber will make his second start of the season for Colorado in Friday's opener against the visiting Diamondbacks. Gomber gave up two hits in five shutout innings at Atlanta his first time out. ___ AP MLB:
