Elevated bond yields and geopolitical uncertainty continued to be negative for stocks this week as the overall market moved into oversold territory. However, that set us up to put cash to work and make four small buys as our discipline mandates. We also upgraded one of our tech giants after it reported a stellar quarter but saw its stock punished. The 10-year Treasury yield went back above 5% this week after crossing that threshold for the first time since July 2007 on Oct. 19. While settling Friday slightly below 5%, bond yield volatility and concerns about the war in the Mideast have proven to be more powerful stock market movers lately than the solid earnings prints we’ve seen from several mega-cap tech companies. The closely followed S & P 500 Short Range Oscillator first flashed oversold Monday and went deeper and deeper into oversold territory as the week went along. Jim Cramer has used the Oscillator for decades to gauge sentiment swings in the market. It’s our practice to look for places to make small buys in oversold markets. (We conversely took at making trims during overbought markets). This week, we purchased shares in companies that had promising earnings but negative stock reactions or demonstrated positive catalysts on the horizon. Here is a day-by-day breakdown of the moves we made in our portfolio. Monday On Monday, we bought 75 more shares of Oracle (ORCL), which was up about 1% at the time. We were taking advantage of the unwarranted 6% drop in the stock on Oct. 20 following the company’s AI Executive Forum event. Investors were encouraged by the enterprise software company’s positive comments on artificial intelligence spending. ORCL YTD mountain Oracle YTD However, shares fell on worries that cash flows from AI workloads would be further out in the future. The lack of immediate revenue upside from AI also caused Oracle shares to drop 13.5% on Sept.12, the day after it reported earnings. Given the company’s fundamentals are intact and there’s strong sustained demand for its AI services, we saw the pullback as a buying opportunity. Tuesday We used Tuesday’s post-earnings sell-off in Danaher (DHR) shares to add 30 more shares to our position. While the life sciences giant beat on the top and bottom lines, the stock faltered due to uncertainty around the recovery in its key bioprocessing business. DHR YTD mountain Danaher YTD Still, we felt confident buying more DHR because stocks tend to bottom before their industry cycle does, and Danaher is almost there in working through the excess supply that is limiting new order demand. Danaher’s inflection point is coming. It may be a quarter or two away, which is why we think buying the stock lower now is a good opportunity. We see substantial growth ahead in the biologics market and see a better setup for the sock in 2024. Wednesday On Wednesday, we made a small purchase of 20 more shares of Constellation Brands (STZ), buying the recent dip on higher interest rates and concerns that GLP-1 weight loss drugs like Wegovy might make people want to drink less alcohol. Any GLP-1 impact is far down the road and anything but certain. So, we’re continuing to concentrate on the beer maker’s improving fundamentals, which were highlighted in the company’s quarterly beat and raise earlier this month . STZ YTD mountain Constellation Brands YTD We’re hoping that during the company’s Investor Day on Nov. 2, management will announce a strategic review of the company and consider selling its lagging Wine & Spirits part of the business. We would also like to see a commitment to growing the dividend and repurchasing stock. We think this event will be a catalyst for STZ stock, which is why we bought ahead of it. Thursday With the Oscillator at its worst oversold levels of the week, we were compelled to increase our position in one of our energy stocks and upgrade shares of one of our mega-cap tech giants. CTRA YTD mountain Coterra Energy YTD We bought 200 more shares of Coterra Energy (CTRA). When decided to take our profits and exit Pioneer Natural Resources (PXD) last week following Exxon Mobil (XOM) acquisition announcement, it was our plan to purchase more Coterra on a pullback. We waited. It happened and, we made the trade. Coterra is about 50/50 oil and natural gas — so price moves in these commodities are always going to influence shares. However, we can’t help but also think Coterra could benefit from the consolation in the sector. META YTD mountain Meta Platforms YTD We also on Thursday decided to upgrade Meta Platforms (META) to our buy-equivalent 1 rating as the stock riding a two-day losing streak. The social media giant reported solid third-quarter results Wednesday evening. However, shares sank after management delivered conservative revenue guidance, citing volatility in advertising spending at the start of the fourth quarter due to the Israeli-Hamas war. (Jim Cramer’s Charitable Trust is long ORCL, DHR, STZ, CTRA, META. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Jim Cramer on Squawk on the Street, June 30, 2022.
Virginia Sherwood | CNBC
Elevated bond yields and geopolitical uncertainty continued to be negative for stocks this week as the overall market moved into oversold territory. However, that set us up to put cash to work and make four small buys as our discipline mandates. We also upgraded one of our tech giants after it reported a stellar quarter but saw its stock punished.
The Greek cities of Athens and Thessaloniki are popular tourist spots, and those tourists are about to breathe a little bit easier – literally! – thanks to nearly 90 new electric garbage trucks from Mitsubishi Fuso.
The Daimler-owned Mitsubishi Fuso brand has been making big moves since export of its newest electric eCanter medium duty truck kicked off earlier this year. First expanding to Hong Kong, and now taking orders in the EU.
“Thanks to its compact dimensions and high chassis load capacity, the electric Next Generation eCanter is ideal for waste disposal companies that drive on narrow roads,” says Florian Schulz, Head of Sales, Marketing and Customer Services. “In addition, the vehicle is locally emission-free and quiet, so that garbage can be emptied early in the morning in densely populated areas. This makes it particularly suitable for municipal applications.”
One of the most important goals the cities’ governments had was to quiet down the garbage collection process. To that end, Greek body manufacturer KAOUSSIS has put a lot of development work into the upfit body to quiet the hydraulic and compaction actions. The company is calling its refuse body “the first of its kind,” creating a market advantage for the electric eCanter while meeting all EU technical regulations for operating waste disposal vehicles with standing personnel.
The hydraulic system employs proportional, electro-hydraulically operated directional valves that operate at a maximum pressure of 180 bar. KAOUSSIS says it’s specially designed for EVs, and is compatible with garbage bins between 80 and 390 liter (aka: really big) capacities. The lift also features a dynamic weighing system that records the weight of the waste with an accuracy of up to ±0.5 kg (about a pound).
“We have had a very close cooperation with KAOUSSIS for over 30 years,” says Antonios Evangeloulis, Director of Sales & Marketing of the Greek importer & general agent for Daimler truck products and services Star Automotive Hellas. “All the necessary tools, safety measures, technicians, training and certifications are in place and we are able to offer excellent after-sales support for these vehicles. Overall, it was an exciting project that we were able to realize together.”
Forty of the new electric refuse trucks are expected to be deployed by the end of November, with the balance expected to be delivered over the course of 2025.
Electrek’s Take
Electrifying the commercial truck fleet is a key part of decarbonizing city truck fleets – not just here in the US, but around the world. I called the eCanter, “a great product for moving stuff around densely packed city streets,” and garbage is definitely “stuff.”
Here’s hoping we see more “right size” electric solutions like this one in small towns and tight urban environments stateside somewhat sooner than later.
Electrek‘s Seth Weintraub went to Alpitronic America’s new HQ to speak with CEO Mike Doucleff about its plans to roll out its ultra-fast chargers across the US.
Bolzano, Italy-based Alpitronic was founded in 2009, and it specializes in the development and production of DC fast chargers. The global company’s best-known product line is the Hypercharger, an ultra-fast EV charging station that can deliver charging power from 50 kW to 400 kW, depending on the model.
Alpitronic Americas recently announced an agreement with Mercedes-Benz High-Power Charging to become the first DC fast-charging network to deploy Hypercharger 400 units at scale in the US.
Alpitronics Americas’ new headquarters’ 68,000-square-foot office and industrial space in Charlotte, North Carolina, includes a diagnostics laboratory and repair center, a spare parts warehouse, a training center, and space for as many as 300 employees.
The Bolzano, Italy-based company’s Hyperchargers achieve, on average, an efficiency rate greater than 97.5%, and that its repair and service network can service chargers anywhere in the US.
Alpitronic cofounder and CEO Philipp Senoner said, “As a natural part of Alpitronic’s growth, we are anxious to expand our industry-leading Hypercharger network from Europe, where we are market-share leader, to North America. We are pleased with the talent we are finding in North Carolina and look forward to setting a new standard for the EV charging network in the US.”
Alpitronic chargers support all EV brands. Pre-production units have been tested publicly in Rock Hill, SC, and Portland, OR. The first US-built, public chargers are expected to be installed and available in October.
Seth and Mike Doucleff discuss what Aliptronic’s main driver was to come to the US, what attracted them to Charlotte, and what the company thinks the future of DC fast chargers is in the US, among other things. Their conversation begins at 00:41 on the Electrek podcast below:
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This week, Volvo Group held its once-every-three-years “Volvo Days” event in Shippensburg, PA for the first time since the pandemic, showing off tons (literally!) of new equipment, new trucks, and new concepts – including a couple of “world’s first” debuts.
What is Volvo Days? That might require a bit of background …
The heavy equipment world operates on something of a three-year cycle. ConExpo, the industry’s biggest trade show, happens every three years. That sets the tone, with companies showing off all their hottest concepts and forward-thinking new projects. That’s year 1. Year 2 is typically when shows like Volvo Days typically take place, with manufacturers rolling out the production versions of the concepts they showed at ConExpo and inviting a mix of dealers, end-users, and journalists in to try out some of what got showed at ConExpo. Year 3 is more insular, with the manufacturers bringing in salespeople to get them trained on new products and prepare them for how to talk about what the company is planning to show at next year’s ConExpo.
ConExpo was last year, so this year we get Volvo Days – for the first time since 2018, in fact, since the 2021 event was canceled due to COVID. That makes this the first Volvo Days in six years … and expectations were high.
The kickoff
Volvo kicked off the week’s events with a drone display highlighting the company’s construction equipment history – appropriate, given that the event was held at Volvo CE’s Pennsylvania engineering and production campus. The drone show was followed by a genuinely impressive, highly choreographed equipment ballet that featured new electric equipment shown for the first time in North America, as well as the new-for-2025 Volvo VNL and Mack MD Electric trucks doing some heavy lifting and hauling.
The show lasted well over thirty minutes, and it was impossible for me to keep track of everything that was happening, but you can get a sense of it in the video (above).
Compact electric equipment
Volvo had its new, in-production L20/120 Electric wheel loader and ECR25 Electric excavator front and center in its reception center, along with information highlighting their competitive advantages in the compact equipment space.
The best thing about Volvo Days, however, isn’t that they have interesting vehicles on display – it’s the fact that nearly every one of those interesting vehicles is available to experience first hand … including the 30-ton EC230 Electric excavator.
Volvo Electric excavators with Steelwrist; photo by the author.
All the electric excavators (even the mini) were incredibly smooth and quiet, with noticeably fewer vibrations than their diesel counterparts … which we also got to play with.
That said, I’m not a “real” equipment operator, which means my seat of the pants impressions are probably worth less than those of the people who use these things every day. That’s why I was glad to have Mike Switzer, my co-host on The Heavy Equipment Podcast, along for the ride.
Over on the compaction side, Volvo had its DD25 Electric vibrating drum compactor on display – where the all-electric tandem roller was joined by two all-new siblings being shown off for the first time ever: a pre-production DD15 Electric “mini” compactor prototype seemingly designed for sidewalks and driveways, and the TC13 Electric trench compactor.
The TC13 Electric is designed as a walk-behind unit that uses its heavy batteries to provide the compaction mass – but those heavy batteries won’t get depleted in the hour or so of operation that most trench compactors see on a busy day. To keep the little TC13 useful throughout the day, Volvo gave it a pair of 110 and 220V outlets.
“Did you see his face when I asked if it could run an arc welder?” asked Mike, smiling. “He said, ‘It’s not something we’d advise,’ but you could tell he liked that question.”
Yeah, he did!
Electrek’s Take
Jo Borrás looking for prizes; photo by Jefferson Yin.
Regardless, one thing that was made very clear at Volvo Days ’24 is that, while other companies are still developing the initial entries into the electric commercial vehicle space, Volvo has not just a full line of products – but an expanding line of products, with the company entering new spaces specifically because of the unique advantages electric offers.
As Volvo’s North American President, Scott Young, explains, the future is electric, and Volvo’s vision for the future has the company firmly in the leadership position … but more on that in part 2.
ORIGINAL CONTENT FROM ELECTREK.
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