The asset manager's financing-heavy investments jumped 52% to $18.6 billion this year through March from $12.2 billion in the year-earlier period, a presentation of the firm's first-quarter results shows. Ares deployed most of the capital through its direct-lending and alternative-credit strategies in the U.S. and Europe, the executives said.
Biden's Fraught Candidacy Faces Twin Threats at Home and Abroad
President Biden's fragile bid for a second term is under new threat from the powerful combination of two conflicts he has little direct control over: Israel's war with Hamas and the deepening rift in the U.S. over America's role in it.
The two crises, unfolding thousands of miles from each other, are merging to crystallize a wider set of divisions in U.S. society that are challenging Biden's already shaky political standing. Americans had already been debating the limits of free speech on campus, the balance between protest and public order and the U.S. alliance with an obstinate Israeli government.
U.S. Shuffles Military Assets in Middle East After Gulf Pushback
WASHINGTON-The Pentagon is shifting jet fighters, armed drones and other aircraft to Qatar, repositioning its forces to get around restrictions on conducting airstrikes from an air base long used by the U.S. in the United Arab Emirates.
The U.A.E. informed the U.S. in February that it would no longer permit American warplanes and drones based at Al Dhafra air base in Abu Dhabi to carry out strikes in Yemen and Iraq. That has prompted U.S. commanders to send the additional aircraft to Al Udeid air base in Qatar, the small Persian Gulf monarchy that hasn't imposed similar restrictions, U.S. officials said.
Iran's Attack on Israel Offers Kim Jong Un a Test Case of Western Defenses
SEOUL-The Iranian assault on Israel last month is likely to have drawn the keen interest of one world leader in particular: North Korea's Kim Jong Un.
The attack-and the overwhelming success of Israel and its allies, including the U.S., to repel it-offers Kim a real-world test case of a clash with Western defenses.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings [1Q Unless Stated]:
Brookfield Renewable
Magna
TC Energy
TransAlta
Westshore Terminals Investment
Economic Calendar [ET]:
0815 Apr Official Monetary Reserves
0930 Apr Services PMI
Stocks to Watch:
Andlauer Healthcare Group 1Q EPS $0.35; Net C$14.9M; Rev C$161.1M
Black Diamond 1Q EPS C$0.02; 1Q Rev C$73.6M; Declares Dividend of C$0.03
Colabor Group 1Q Loss $1.78M; Loss/Shr 2c; Sales $131.2M
Fairfax India Holdings 1Q Loss/Shr $2.17
IGM Financial 1Q EPS C$0.94; Adj EPS C$0.94; Net C$223.4M
Kolibri Global Energy 4Q Rev $13.4M; Basic EPS 14c
Magellan Aerospace 1Q Rev C$235.2M; EPS C$0.11
Pason Systems 1Q Net C$69.5M; Rev C$104.8M; EPS C$0.87
Sagen MI Canada 1Q Net C$145M
Sandstorm Gold 1Q Rev $42.8M; 2024 Attributable Gold Equivalent Forecast Between 75,000 and 90,000 Ounces, Production Expected to Reach Approximately 125,000 Attributable Gold Equivalent Ounces Within Next Five Years
Slate Office REIT 1Q Rev C$50.3M; 1Q Loss C$22.6M
TMX Group 1Q Rev C$345.9M; EPS C$0.50; Adj EPS C$0.38; Increases Dividend By 6% To C$0.19 Per Common Share
Expected Major Events for Friday
06:45/FRA: Mar Industrial production index
08:00/ITA: Mar Unemployment
08:30/UK: Apr UK Official Reserves
08:30/UK: Apr S&P Global UK Services PMI
12:15/CAN: Apr Official International Reserves
12:30/US: Apr U.S. Employment Report
13:30/CAN: Apr Canada Services PMI
13:45/US: Apr US Services PMI
14:00/US: Apr ISM Report On Business Services PMI
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Friday
AES Corp (AES) is expected to report $0.33 for 1Q.
AdvanSix (ASIX) is expected to report $-0.67 for 1Q.
Advent Technologies Holdings Inc (ADN) is expected to report for 4Q.
Amneal Pharmaceuticals Inc (AMRX) is expected to report $0.00 for 1Q.
Balchem Corp (BCPC) is expected to report $0.91 for 1Q.
Bird Global Inc (BRDSQ) is expected to report for 4Q.
Brookfield Business Corp (BBUC) is expected to report for 1Q.
Brookfield Renewable Corp (BEPC,BEPC.T) is expected to report $-0.29 for 1Q.
Brookfield Renewable Partners LP (BEP,BEP.UN.T) is expected to report $-0.42 for 1Q.
CBRE Group (CBRE) is expected to report $0.62 for 1Q.
Cboe Global Markets Inc (CBOE) is expected to report $1.91 for 1Q.
Chart Industries Inc (GTLS) is expected to report $1.17 for 1Q.
Cheniere Energy Inc (LNG) is expected to report $2.24 for 1Q.
Cheniere Energy Partners LP (CQP) is expected to report $1.04 for 1Q.
City Office REIT Inc (CIO) is expected to report $-0.13 for 1Q.
ContraFect Corp (CFRXQ) is expected to report for 4Q.
Cumulus Media Inc (CMLS) is expected to report $-1.56 for 1Q.
Excellon Resources (EXN.T) is expected to report for 4Q.
Express Inc (EXPRQ) is expected to report for 4Q.
Frontier Communications Parent Inc (FYBR) is expected to report $0.10 for 1Q.
Green Plains Inc (GPRE) is expected to report $-0.31 for 1Q.
Hershey Company (HSY) is expected to report $2.76 for 1Q.
Huntsman Corp (HUN) is expected to report $-0.07 for 1Q.
Interface (TILE) is expected to report $0.13 for 1Q.
Newmark Group Inc (NMRK) is expected to report $-0.01 for 1Q.
Perella Weinberg Partners (PWP) is expected to report for 1Q.
Plains All American Pipeline LP (PAA) is expected to report $0.43 for 1Q.
Plains GP Holdings LP (PAGP) is expected to report $0.47 for 1Q.
SCI Engineered Materials Inc (SCIA) is expected to report for 1Q.
Shenandoah Telecommunications Co (SHEN) is expected to report $-0.02 for 1Q.
Slate Office REIT (SOT.UN.T) is expected to report for 1Q.
TC Energy Corp (TRP,TRP.T) is expected to report $0.84 for 1Q.
Telephone & Data Systems (TDS,TDSS) is expected to report $-0.05 for 1Q.
Tennant Co (TNC) is expected to report $1.13 for 1Q.
TransAlta Corp (TA.T,TAC) is expected to report $0.84 for 1Q.
Trimble Inc (TRMB) is expected to report $0.31 for 1Q.
U.S. Cellular (USM) is expected to report $0.26 for 1Q.
Uniti Group Inc (UNIT) is expected to report $0.11 for 1Q.
XPO Inc (XPO) is expected to report $0.57 for 1Q.
fuboTV Inc (FUBO) is expected to report $-0.22 for 1Q.
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ANALYST RATINGS ACTIONS
Astec Industries Cut to Hold From Buy by Stifel
Block Cut to Neutral From Buy by Monness, Crespi, Hardt
Bread Financial Raised to Outperform From Market Perform by Keefe, Bruyette & Woods
Burlington Stores Raised to Neutral From Sell by UBS
Carvana Raised to Overweight From Neutral by JP Morgan
Community Healthcare Tr Cut to Neutral From Overweight by Piper Sandler
CVS Health Cut to Neutral From Buy by UBS
Etsy Cut to Hold From Buy by Loop Capital
Extreme Networks Raised to Buy From Neutral by Rosenblatt
Fastly Cut to Neutral From Buy by DA Davidson
Fastly Cut to Underperform From Buy by B of A Securities
Freshworks Cut to Neutral From Outperform by Baird
Hudson Technologies Cut to Hold From Buy by Canaccord Genuity
Metagenomi Cut to Neutral From Overweight by JP Morgan
MGM Resorts Raised to Positive From Neutral by Susquehanna
Mistras Cut to Hold From Buy by EF Hutton
Netgear Cut to Neutral From Buy by BWS Financial
NY Community Bancorp Raised to Neutral From Underperform by Wedbush
SiteOne Landscape Supply Raised to Buy From Hold by Stifel
Spire Inc Cut to Neutral From Buy by Mizuho
Synchrony Financial Raised to Outperform From Market Perform by Keefe, Bruyette & Woods
Tanger Raised to Buy From Neutral by Compass Point
TJX Cos Raised to Buy From Neutral by UBS
Trade Desk Raised to Buy From Hold by Jefferies
TTM Technologies Raised to Buy From Hold by Stifel
Upwork Raised to Buy From Neutral by BTIG
Wolfspeed Cut to Hold From Buy by TD Cowen
Wolfspeed Cut to Market Perform From Outperform by William Blair
Ziff Davis Raised to Overweight From Neutral by JP Morgan
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
05-03-24 0607ET
