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Next move for growth and value stocks as the Russell rebalances

A bullish move may be ahead for both value and growth in the year’s second half.

VettaFi’s Todd Rosenbluth thinks value stocks, which have been market laggards, could get a lift from one of the biggest Wall Street events of the year: the FTSE Russell’s annual rebalancing.

“It’s worth paying attention to value,” the firm’s head of research told CNBC’s “ETF Edge” this week. “It feels like … [for a] long time that growth has outperformed value.”

On Friday, the Russell indexes underwent their annual reconstitution to reflect changes in the market as companies grow and shift. The iShares Russell 1000 Growth ETF is up 20% so far this year, while the iShares Russell 1000 Value ETF is up almost 6%.

“We do think there’s a place for both growth and value within a broader portfolio — just people are skewed more toward growth heading into the second half of the year,” he added. “There have been periods when the pendulum has swung back in favor of value.”

FTSE Russell CEO Fiona Bassett said on “ETF Edge” the indices are built to reflect the nature of the market.

“One of the benefits of the Russell franchise generally is our ability to provide different sleeves of exposure,” she said. “So, for those people who want to get concentrated exposure to value or to growth, we have the indices available to do that.”

As of May 31, FactSet reports the Russell 1000 Growth ETF’s top three holdings are Microsoft, Apple and Nvidia. Meanwhile, the Russell 1000 Value ETF’s top holdings are Berkshire Hathaway, JPMorgan Chase and Exxon Mobil.

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CASE CE launches all-new, 3.8 ton electric wheel loader (but wait, there’s more!)

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CASE CE launches all-new, 3.8 ton electric wheel loader (but wait, there's more!)

CASE CE is responding to government regulations that are pushing industries towards a zero-emission future by developing a new line of all-electric equipment – which now includes a new, 3.8 ton compact wheel loader.

Last week, CASE Construction Equipment introduced the 12EV, an all-electric 3.8 ton compact wheel loader with a 1.5 ton payload capacity that the company says demonstrates its commitment to zero emissions and alternative fuel solutions.

These new electric vehicles mean more choices for CASE customers, enabling them meet their carbon footprint reduction targets and eco-efficiency goals while providing power and performance on par with their conventional, diesel-powered offerings.

The CASE 12EV comes equipped with a 23 kWh, cobalt-free, lithium-ion battery sends power to a 17 kW motor that delivers drive to the axles, as well as a 22 kW motor that powers the hydraulic system for the loader arms and bucket cylinder. The battery pack is good for up to six hours of continuous operation (depending on load). It can charge overnight on 220V Level 2 charging, or from 10 to 80% on a DC fast charger in just under an hour.

But wait, there’s more!

CASE CE electric construction equipment; via CASE.

The 12EV wheel loader is the third production BEV from CASE, following the introduction of the CX15EV and the CX25EV mini excavators that weigh in 1.5 and 2.5 tons, respectively. The excavators are powered by 21.5 kWh and 32.3 kWh battery packs, respectively, sized to enable “full shift” runtime.

CASE showed off its full line of electric excavators at a UK earlier this summer, the first time UK equipment operators and other stakeholders a chance to sample the battery electric machines and learn about a variety of other carbon reducing initiatives, including sustainable charging and waste management.

Electrek’s Take

We had the chance to interview CNH (CASE/New Holland) chief innovation officer (CIO) Marc Kermisch on the Heavy Equipment Podcast a few weeks ago, where we discussed the impact of automation and electrification on construction and agriculture, the lack of new farm and equipment operators, alternative fuels, and more. You can check that out, below, and let us know what you think of CASE’s sustainable roadshow in the comments.

SOURCE | PHOTOS: CNH/CASE CE.

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Volvo Trucks have logged over 50 million battery electric miles (!)

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Volvo Trucks have logged over 50 million battery electric miles (!)

Fifty million miles. Eighty million kilometers. Two thousand laps around Carl Sagan’s pale blue dot. However you measure it, there’s no denying it: Volvo Trucks have driven a whole lot of battery-electric miles!

Since Volvo Trucks began delivering its first generation of all-electric semi trucks to customers in 2019, the trucks have dramatically reduced fleets’ harmful carbon emissions, reduced their operating costs, and improved the working environment for drivers with smoother, quieter, and cleaner operation.

How much cleaner? Volvo claims that covering the same fifty million distance with equivalent diesel-powered trucks would have consumed more than 25 million liters of diesel fuel and more than 68,000 tons of carbon dioxide.

It pays off to be an early adopter – transport companies with electric trucks have a strong competitive advantage when being able to offer emission-free transport to transport buyers.

VOLVO TRUCKS

“I am happy to see how transport companies are embracing the benefits with electric trucks in daily operations,” says Roger Alm, President Volvo Trucks. “The transport sector represents 7% of global carbon emissions and battery-electric trucks is an important tool to reduce the climate footprint. Thanks to many early adopters we can already now see the huge potential with this technology.”

We’ve come a long way

Coca-Cola’s Volvo VNR Electric, via Volvo Trucks.

Since 2019, Volvo Trucks’ global deliveries of electric trucks increased grew to 1,977 Class 8 trucks in 2023 (up 256% from the year before, and still growing, as the company sees continued interest from customers in 2024). In addition to sheer numbers, Volvo has market share. In Europe, more than 50% of electric truck buyers chose a Volvo during Q1 of ’24 – fully 56%, in fact, with a 44% share of electric trucks sold in the US, as well.

“Not only transport companies, but also buyers of transport – and logistic services are signing up to SBTi (Science Based Target initiative), and are starting to demand sustainable transport solutions from their providers,” says Alm, about the 3,500 electric Volvo semis sold in 45 countries (so far). “This is yet another driver of the shift to electric trucks.”

Electrek’s Take

Volvo FM Electric; via Volvo Trucks.

I talked about the head start companies like Einride and Freightliner had in developing autonomous driving for commercial trucks even as companies like Walmart and McDonald’s are turning to Tesla’s competitors instead of waiting for its Semi in today’s episode of Quick Charge – and I didn’t need Reuters to tell me that.

That said, fifty million miles and five years is one heck of a head start.

SOURCES | IMAGES: Volvo Trucks, Reuters.

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Tesla self-cleaning robotaxi, electric semis go autonomous, and can we trust Exxon?

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Tesla self-cleaning robotaxi, electric semis go autonomous, and can we trust Exxon?

Tesla’s robotaxis could have a self-cleaning feature, electric semi trucks are taking off in Canada, NIO is busting sales records globally, and ExxonMobil is mining 100,000 metric tons of lithium. All this and more on today’s episode of Quick Charge!

I packed 15 minutes of opinions into 9 minutes of content today, so here’s hoping you guys all agree that subways are better than hyperloops!

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded Monday through Thursday (that’s the plan, anyway). We’ll be posting bonus audio content there as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show!

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