Project Details - Granite Construction Incorporated (GVA) has been awarded an $88 million project by the California Department of Transportation (Caltrans) to improve a portion of Ortega Highway State Route 74 (SR 74) [1] - The project will be funded by state and federal sources, with construction expected to begin in April 2025 and be completed by November 2026 [1] - GVA will include this project in its first quarter of 2025 Committed and Awarded Projects (CAP) [1] Work Scope - The project involves widening shoulders and roadways, installing centerline and edge line rumble strips, and resurfacing the highway to improve safety and efficiency [2] - These enhancements will provide vehicle buffer room, significantly improving safety on the narrow two-lane mountainous highway [2] Strategic Importance - The contract builds on Granite's ongoing efforts on this stretch of highway over the past few years, aligning with its strategic goal of expanding its footprint in the Inland Empire of Southern California [3] - Granite is focusing on growing a high-quality CAP portfolio, leveraging positive public funding and a resilient private market to deliver larger projects while minimizing risk [3] CAP Growth - During the third quarter of 2024, Granite added $44 million to its CAP, bringing the total to $5.6 billion, a $44 million sequential increase and a $35 million year-over-year increase [4] - Best-value projects represented 42% ($2.4 billion) of the company's CAP at the end of the quarter, an increase of $31 million from the year-ago quarter [4] Best-Value Projects - Best-value projects include construction manager, general contractor, and progressive design builds, which Granite believes are more efficiently constructed and have a solid growth trajectory [5] Stock Performance - GVA's shares have gained 39.9% in the past six months, slightly below the Zacks Building Products - Heavy Construction industry's 41.8% growth [7] - The company believes strong opportunities across public and private markets will likely foster growth in the upcoming period [8] Industry Comparison - Weyerhaeuser Company (WY) has a Zacks Rank 1 (Strong Buy) and delivered a trailing four-quarter earnings surprise of 41.6% on average, with a 1.6% loss in the past six months [10] - Frontdoor, Inc. (FTDR) has a Zacks Rank 1 and delivered a trailing four-quarter earnings surprise of 269% on average, with a 57.7% gain in the past six months [10] - MasTec, Inc. (MTZ) has a Zacks Rank 2 (Buy) and delivered a trailing four-quarter earnings surprise of 40.2% on average, with a 53.8% gain in the past six months [11]

Twilio shares soared more than 20% on Friday and headed for their biggest gain since the early days of the Covid pandemic after the cloud communications software vendor issued an uplifting profit forecast for the coming years. The stock jumped to $140.12 as of mid-day trading, which would be its highest close since 2022. Twilio revealed its new guidance at a Thursday investor event, a little over a year after the company named Khozema Shipchandler as CEO. Shipchandler, who had been Twilio's president and be ...

JP Morgan analyst Samik Chatterjee maintained an Overweight rating on Qualcomm Inc QCOM.Samsung Electronics recently launched its latest flagship smartphone, the S25, which features Snapdragon chipsets across all variants.This marks a share gain for Qualcomm compared to the prior generation flagship S24, where the Base and Plus models outside North America and China used Samsung’s in-house Exynos chipset.Also Read: Microsoft Launches CoreAI Division: Ex-Meta Exec To Supercharge Copilot And AI InnovationsReg ...

The Progressive Corporation (PGR) is expected to register an improvement in its top and bottom lines when it reports fourth-quarter 2024 results on Jan. 29, before the opening bell.See the Zacks Earnings Calendar to stay ahead of market-making news.The Zacks Consensus Estimate for PGR’s fourth-quarter revenues is pegged at $19.8 billion, indicating 19.5% growth from the year-ago reported figure.The consensus estimate for earnings is pegged at $3.43 per share. The Zacks Consensus Estimate for PGR’s fourth-qu ...

Adobe (ADBE) shares have declined 29.8% in the trailing 12-month period, underperforming the broader Zacks Computer and Technology sector’s return of 28.5% and the Zacks Computer Software industry’s appreciation of 14.2%.ADBE’s 2025 prospects are suffering from increasing competition in the Generative AI (GenAI) space from the likes of Microsoft (MSFT) -backed Open AI, as well as a lack of monetization of its AI solutions. For fiscal 2025, Digital Media Annual Recurring Revenue is now expected to grow rough ...

ServiceNow (NOW) is scheduled to release its fourth-quarter 2024 results on Jan. 29. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for fourth-quarter revenues is currently pegged at $2.95 billion, indicating 21.21% growth from the figure reported in the year-ago quarter.The consensus mark for earnings is pegged at $3.58 per share, indicating growth of 15.11% from the figure reported in the year-ago quarter. The earnings figure has remained unchanged ov ...

Dr. Reddy's Laboratories Limited (RDY) reported third-quarter fiscal 2025 earnings of 20 cents per American Depositary Share (ADS), which matched the Zacks Consensus Estimate. The company reported earnings of 19 cents per ADS in the year-ago quarter.See the Zacks Earnings Calendar to stay ahead of market-making news.Revenues grew 16% year over year to $977 million, which surpassed the Zacks Consensus Estimate of $875 million. The year-over-year improvement was primarily driven by growth in global generics r ...

The past few months have not been encouraging for Realty Income (O) . The stock has plunged 11.7% over the past three months, underperforming not only the S&P 500 composite but also the Zacks REIT and Equity Trust - Retail industry over the same time frame. It also declined 16.6% from its 52-week high achieved in October.The Fed’s hawkish stance, signaling an extended period of macroeconomic normalization and higher borrowing costs, has affected the more rate-sensitive stocks like REITs, and Realty Income h ...

CSX Corp CSX tanked in early trading on Friday, after the company reported disappointing fourth-quarter revenues.The company reported its quarterly results amid an exciting earnings season. Here are some key analyst takeaways.BMO Capital Markets On CSXAnalyst Fadi Chamoun reiterated an Outperform rating while reducing the price target from $40 to $38.CSX reported fourth-quarter revenues of around $3.54 billion, down 3.8% year-on-year "despite 1% higher volume, robust pricing in the merchandise segment and s ...

Shares of Anavex Life Sciences (AVXL) , a clinical-stage biotech making medicines to treat central nervous system (CNS) diseases, have skyrocketed 94.7% in the past three months due to recent pipeline successes.Anavex Life Sciences’ clinical developmental pipeline includes two candidates, ANAVEX 2-73 (blarcamesine) and ANAVEX 3-71. Both these candidates are being developed in separate studies across various stages of development to treat a plethora of CNS indications like Alzheimer’s disease (AD), Parkinson ...