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The Federal Reserve’s campaign to squash inflation is a long-term win for the U.S. economy, but investors in companies such as Walmart are paying the price now, CNBC’s Jim Cramer said Thursday.

The U.S. retail behemoth, along with cybersecurity firm Palo Alto Networks and energy giant Chevron, all saw their stock prices decline meaningfully Thursday for reasons that can be traced back to the Fed’s interest rate hikes, Cramer explained.

“Saying goodbye to inflation is sweet, but there’s a little momentary sorrow, too,” Cramer said. “That’s the sorrow of Walmart or Chevron or Palo Alto Networks and so many other companies that are victims of their own success.”

Walmart shares tanked 8% Thursday after the company reported quarterly earnings before the bell. While the top-and-bottom line results topped expectations, Walmart’s same-store sales — a closely watched metric in the retail industry — decelerated for the third consecutive quarter.

One reason for that slowdown is emerging deflation, Cramer said. When inflation was raging, he said Walmart’s same-store sales were boosted by the company passing on its own higher costs to shoppers with price hikes. Additionally, Cramer said Walmart is grappling with more cautious consumers, who’ve seen their budgets squeezed by inflation for well over a year.

Meanwhile, shares of Palo Alto Networks slid 5.4% Thursday as its earnings report from the prior evening disappointed investors. The primary issue was Palo Alto lowering its full-year billings outlook, which management chalked up to customers needing to ink shorter contracts due to higher borrowing costs. The reason for elevated borrowing costs, Cramer explained, is the Fed’s rate hikes, which have made money more expensive.

Cramer’s Charitable Trust, the portfolio used by the CNBC Investing Club, owns Palo Alto shares.

Chevron’s stock, on the other hand, fell 2.6% Thursday alongside a steep drop in oil prices. That continues a multiweek downward trend for the commodity, amid concerns about demand. While Chevron and its energy peers benefited from higher oil prices last year, Cramer said the falling oil prices are a direct consequence of a slowing economy. And that’s exactly what the Fed wants to see, he said.

“The good news of lower prices finally breaking the inflationary spiral is also bad news for the profits of many companies,” Cramer said. “It’ll take some sorting out, but never believe that that lower consumer prices are just a magic elixir for long-term stock market gains.”

Jim Cramer’s Guide to Investing

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Reyes Beverage Group adds 29 Freightliner electric semi trucks to California fleet

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Reyes Beverage Group adds 29 Freightliner electric semi trucks to California fleet

Daimler Truck North America has helped alcohol distributor Reyes Beverage Group deploy fully 29 zero-emission Freightliner eCascadia Class 8 electric semi trucks in its California delivery fleet.

Reyes Beverage Group (RGB) plans to deploy the first twenty Freightliner electric semi trucks at its Golden Brands – East Bay and Harbor Distributing – Huntington Beach warehouses, marking the first phase in the company’s transition to a fully zero emission truck fleet by 2039. An additional nine eCascadia Class 8 HDEVs are scheduled for delivery to RBG’s Gate City Beverage – San Bernardino warehouse before the end of 2024.

RBG’s decision to adopt the Freightliner eCascadia builds on its recent transition to renewable diesel and its ongoing idle-time reduction program. These electric vehicles (EVs) “go electric” will contribute significantly toward the company’s stated goal of reducing its carbon emissions 60 percent by 2030. These 2 trucks will save some 98,000 gallons of diesel fuel annually, and avoid putting nearly 700 metric tons of carbon dioxide and other harmful emissions into California’s air each year.

“We are excited to be among the first in our industry to adopt these electric vehicles,” explains Tom Reyes, President of RBG West. “This is a significant step toward our sustainability goals and ensuring compliance with state regulation as we transition our fleet to EV.”

Freightliner’s eCascadia electric semi trucks offer a number of battery and drive axle configurations with ranges between 155 and 230 miles, depending on the truck specification, to perfectly match customers’ needs without compromising on performance and load capacity. RBG’s Freightliner eCascadia tractors will rely on electric charging stations installed at each facility, allowing them to recharge to 80% capacity in as little as 90 minutes for RGB’s trucks, which feature a typical driving range of 220 miles as equipped.

Electrek’s Take

Food and beverage trucks operate everywhere – not just at the ports but in urban population centers, too. That means they’re pumping out harmful emissions right where a lot of people live and work, and that’s no bueno, making the electrification of these vehicles a no brainer for anyone who cares about the quality of life of the people who live and work near them.

SOURCE | IMAGES: Daimler Trucks.

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Enwin Utilities adds $1 million Terex electric bucket truck to fleet [video]

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Enwin Utilities adds $1 million Terex electric bucket truck to fleet [video]

The Windsor, Ontario utility says it’s driving towards a more sustainable future after adding a dozen new electric vehicles to its fleet – including a state-of-the-art, 55-foot Terex electric bucket truck.

Based on a Class 7 (33,000 lb. GVWR) International eMV Series BEV, the Terex EV takes the eMV’s 291 kWh battery and adds the Terex Optima 55-foot aerial device and HyPower SmartPTO system to create a fully electrified utility service vehicle that can do anything its diesel counterparts can do while offering better, safer working conditions for utility crews.

“We’ve got 12 EVs,” said Gary Rossi, president and CEO, Enwin Utilities. That number represents fully 10% of the utility’s entire vehicle fleet. “Our centerpiece is our electric 55-feet bucket truck. It’s very quiet,” continues Rossi. “So (the truck) allows us, our crews, to communicate better. It’s not as loud in the community when they’re doing repairs in someone’s backyard.”

That notion is echoed by Terex, itself. The company says its HyPower SmartPTO (power take off), which replaces a mechanical PTO, avoids a loud idling engine while reducing workers’ exposure to toxic exhaust fumes.

The utility company says the new electric bucket truck cost it almost $1 million Canadian – but while that might sound like a lot, Rossi says the price is similar to what a similarly-optioned ICE version of the bucket truck would cost.

“It’s all about building Windsor’s future and literally plugging into the battery factory down the road that is being constructed and showing that Windsor is a leader on this front,” says Drew Dilkens, Mayor of Windsor. “I don’t own an internal combustion engine vehicle,” adds Mayor Wilkins. “I only own two electric cars. My wife and I, we made the change starting in 2019 and I can’t see myself ever going back.”

CTV News Windsor

Enwin says its commitment to clean energy extends beyond its vehicle fleet. The company recently unveiled a massive MW solar rooftop net metering facility at its Rhodes Drive headquarters with over 3,000 solar panels. The site, one of Canada’s largest solar installations, generates enough clean electricity to power 300 homes annually.

SOURCE | IMAGES: Terex; Enwin via CTV News Windsor.

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Damen sets a world record for most powerful electric tugboat

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Damen sets a world record for most powerful electric tugboat

Built by Damen Shipyards and the first fully electric tugboat to be deployed in the Middle East, the new RSD-E Tug 2513 Bu Tinah put in its record-breaking performance took place at Khalifa Port during ADIPEC, the world’s largest energy conference.

The RSD-E Tug 2513 is based on the already efficient hull design of the standard, diesel-powered RSD Tug 2513, but its new, fully electric propulsion arrangement enables it to offer zero emissions operations in situations where oil or fuel leakage would be – let’s say especially bad.

But, while the “clean” aspect of all-electric operation is obvious, its Guinness World Record of performance shows that the Damen RSD-E Tug 2513 is up to whatever task its owners put to it.

“This Guinness World Record achievement demonstrates that the transition to alternative energy does not come at the cost of performance,” explains Maritime & Shipping Cluster, AD Ports Group, Captain Ammar Mubarak Al Shaiba. “We are very proud that the first electric tug in the Middle East is also making waves on a global level with this accolade and the fact that in parallel it is improving the sustainability of our operations alongside cost efficiencies in terms of overall fuel saving is extremely important. This vessel is now a key component of our Marine Services fleet and our electrification strategy.”

To earn its record, the the Damen RSD-E Tug 2513 Bu Tinah recorded an average high peak bollard pull of 78.2 tonnes (about 86 ‘Murican tons). The record-setting tugboat can undertake a minimum of two towage operation on a single charge, and can be recharged on a marine DC fast charger in just two hours.

Electrek’s Take

Electric tug achieves Guinness World Record
Damen RSD-E Tug; via Damen.

We’ve come a long way since 2021, when a 6MW electric tugboat was pulling about 50 tonnes of bollard weight. A nearly 50% jump in performance without a similar weight or mass gain is a sign of advancing technology – and we are here for it.

SOURCE | IMAGES: Damen.

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