Despite a downbeat month for stocks and mounting macroeconomic uncertainty, several Club names outperformed the market in October — and landed in the green. While the S & P 500 had its third consecutive down month — weighed down in part by soaring yields on government bonds and a mixed start to third-quarter earnings season — we held our conviction on certain names and put cash to work as our discipline mandates. Indeed, we made four small buys last week amid an oversold market. Meanwhile, the benchmark index slumped in October, down 2.2% month-to-date. Around 38% of companies listed on the index were outperformers, with just over 29% of listed companies in positive territory for the month of October. The S & P closed up 0.67% Tuesday. Meanwhile, 19 of the Club’s 34 holdings — roughly 55% of the portfolio — outperformed the index for the month. And a total of 15 stocks beat the S & P 500 while ending the month in positive territory — the top 10 of which we unpack here. FL YTD mountain Foot Locker (FL) year-to-date performance Shares of Foot Locker (FL) surged 21% month-to-date, bolstered by peer Nike (NKE) releasing strong quarterly earnings results on Sept. 28. The sneaker giant, which touted improving inventory levels, beat on profit and gross margins, sending its stock soaring. Still, we’re hesitant to chase Foot Locker’s rally. That’s because of Nike’s ongoing reset of its relationship with Foot Locker, as it focuses on expanding its direct-to-consumer business while de-emphasizing wholesale channels. Foot Locker reports quarterly results on Nov. 17. HUM YTD mountain Humana (HUM) year-to-date performance Humana (HUM) shot up 7.6% month-to-date. The health insurance company has been catching up since June when shares experienced a 11% single-day drop on concerns about prolonged higher utilization rates. These woes failed to materialize after a brutal selloff, prompting a slight rebound for the firm in October. On Oct. 6, the Club sold 15 shares of Humana as a result, booking small profits after waiting out the stock’s slump. The company reports third-quarter results on Wednesday. Shares of Humana, which are up 2.2% year-to-date, edged 1% higher Tuesday, to close at $524 apiece. MSFT YTD mountain Microsoft (MSFT) year-to-date performance Microsoft (MSFT), whose shares are up 7.1% month-to-date, has been on a tear since its fiscal first-quarter earnings release on Oct. 24. The Big Tech name recorded revenue beats across the board. Investors, however, cheered a surprise acceleration in revenue at Microsoft’s cloud computing business, Azure, showing that the software giant’s massive bet on artificial intelligence has been paying off. The Club believes Azure will be a key long-term growth driver for Microsoft as the world continues to shift to cloud computing. The software giant’s stock, up 41% since the start of 2023, ticked nearly 1% higher Tuesday, to close at $337.60 per share. AMZN YTD mountain Amazon (AMZN) year-to-date performance Shares of Amazon (AMZN) climbed 4.7% throughout October on the company’s better-than-expected third-quarter results . The ecommerce giant beat analysts’ estimates for earnings, boosted by improving profitability in its retail business, but fell short on concerns over the performance of the Amazon Web Services cloud unit. Once worries over AWS were dismissed by CEO Andy Jassy on the post-earnings conference call, shares pushed higher. Amazon, which jumped 58% year-to-date, traded slightly higher Tuesday, to close at $133 apiece. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance Shares of Palo Alto Networks (PANW) rose 3.7% month-to-date. The stock has been lifted by strength in the cybersecurity sector, an industry thought to be a haven for investors amid macroeconomic uncertainty. Enterprises need protection regardless of the state of the economy. Palo Alto surged 1.7% during Tuesday trading at $242.7 apiece. The company is up 74% year-to-date. LLY YTD mountain Eli Lilly (LLY) year-to-date performance Eli Lilly (LLY) is up 3.1% month-to-date after a weak September performance. Still, there’s a lot of anticipation around Lilly’s GLP-1 drug Mounjaro , which should prove to be an ongoing tailwind for the pharmaceuticals firm. Eli Lilly reports third-quarter results on Thursday. The stock declined 2% during Tuesday, to close at $554 a share. Still, shares are up 54% year-to-date. PG YTD mountain Procter & Gamble (PG) year-to-date performance Procter & Gamble (PG) edged 2.9% higher in October. Shares of the company got a boost from fiscal first-quarter results that topped analysts’ expectations for earnings and revenue. P & G, down 1% year-to-date, edged slightly higher on Tuesday, to close at $150 a share. LIN YTD mountain Linde (LIN) year-to-date performance Shares of Linde (LIN) rebounded on the company’s stellar quarterly earnings release last week. The industrial gas giant reported double-digit earnings growth and solid operating-margin expansion, along wit an upbeat profit outlook. The stock, up 2.6% in October, has surged 17.2% year-to-date. Shares of Linde gained 0.87% Tuesday, to close at $382.16 each. SWK YTD mountain Stanley Black & Decker (SWK) performance year-to-date Stanley Black & Decker (SWK) increased 1.8% in October on better-than-expected earnings . On Oct. 27, the tool manufacturer’s quarter showed continued progress on its cost savings plans and inventory-reduction programs. The Club reiterated a 1 rating on Stanley Black & Decker on Tuesday. The stock, up 13.2% year to date, edged nearly 1% higher Tuesday, to close at roughly $85 a share. CTRA YTD mountain Coterra (CTRA) year-to-date performance Coterra Energy (CTRA) notched gains of 1.7% in October. The company has received a boost from continued strength in natural gas, along with crude oil gains on the back of the escalating conflict in the Middle East following Palestinian militant group Hamas’ attack on Israel earlier this month. While there is no major oil production in Israel and the Palestinian Territories, analysts have said a broader conflict in the Middle East could create risks for oil supplies. Shares of the company were steady during Tuesday trading, closing at $27.46 apiece. Coterra stock has risen 11.9% since the start of 2023. (Jim Cramer’s Charitable Trust is long FL, HUM, SWK, MSFT, LLY, CTRA, PANW, PG, AMZN, LIN . 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.
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023.
Brendan Mcdermid | Reuters
Despite a downbeat month for stocks and mounting macroeconomic uncertainty, several Club names outperformed the market in October — and landed in the green.
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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EV maker Lucid Motors (LCID) opened its new office in Detroit this week, hoping to attract engineers from “one of the biggest talent pools in the Western world.”
Lucid sets up shop in Detroit for engineering talent
Lucid celebrated the grand opening of its new office in Southfield, Michigan, roughly 15 miles northwest of Detroit.
At its new office, Lucid is “growing our team of hardware engineers, R&D, operations, and more” as it looks toward its next growth phase.
“We need talent quickly, and that’s what this hub is about,” Eric Bach, Lucid’s senior vice and chief engineer, said at an event at the company’s new office.
Bach explained that as Ford and GM take talent from EV startups like Lucid, Tesla, and Rivian, Lucid looks to attract traditional engineering skills that are central to Detroit.
The company has already hired 24 engineers at its new hub, according to Lucid’s vice president of vehicle engineering, Charles Wildig told Automotive News. However, it plans to hire another 30 by the end of the year while growing its engineering team “exponentially.”
Lucid Air (left) and Gravity SUV (right) models (Source: Lucid)
Wildig said that Lucid gets double the number of applications for every engineering position in Michigan compared to California.
“Michigan is one of the biggest talent pools in the Western world for automotive,” he said, adding, “It’s very difficult to find that kind of talent in California.”
Lucid Gravity SUV (Source: Lucid)
The next growth phase
Lucid is adding engineering talent as it prepares to launch its first electric SUV, the Gravity, later this year.
Last week, during its Technology & Manufacturing Day, Lucid revealed that the Gravity will feature an NACS port in 2025, unlocking access to over 15,000 Tesla superchargers.
Lucid also showcased how the electric SUV and advanced future technology will enable “mass savings.”
CEO Peter Rawlinson claims Lucid is already “years ahead of the competition” but promises new tech, like its next-gen “Atlas” drive units, will be even more advanced.
(Source: Lucid Motors)
The drive unit’s smaller, more efficient design will unlock more performance at a lower cost. The next-gen tech will power Lucid’s new midsize EV platform. Lucid teased its upcoming midsize electric SUV during the event, due out in 2026.
The midsize SUV will be the first to launch on Lucid’s new lower-cost platform. Last month, the company confirmed to Electrek that it plans to launch three lower-cost models on the midsize platform.
Lucid midsize electric SUV teaser image (Source: Lucid)
Lucid is already backing up its claim of being “years ahead,” with the 2025 Air Pure being the most energy-efficient mass-production car ever, with a record 146 MPGe and 5 miles per kWh efficiency. The cheapest trim starts at $71,400.
The Lucid Air is the longest-range EV on the market, with some models offering over 500 miles range.
(Source: Lucid Motors)
Lucid’s Gravity electric SUV will launch later this year, starting at under $80,000. The midsize electric SUV is expected to launch in 2026, starting at around $50,000
Bach said Lucid is in talks with “many” automakers about sourcing its EV powertrain tech. The company already secured a deal with Aston Martin to provide EV battery and powertrain tech last June.
Because of its compact design, the powertrain can easily fit into rivals’ systems. “That means everybody can just plug and play technically,” Bach said. He added, “We are open for business,” and Lucid wants to “embrace” the competition.
Source: Automotive News, Lucid Motors
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