Charbone Hydrogen adds industry expert to team ahead of flagship project launch
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced the addition of industry veteran Patrick Cuddihy to its leadership team.
Cuddihy brings more than two decades of experience from Air Liquide Canada, where he held senior roles in industrial gas production, procurement, and logistics.
The company said that his expertise will be crucial as Charbone transitions to full-scale production, supporting the company’s broader expansion across both Canada and the US.
The appointment comes as Charbone prepares to start production at its flagship facility in Sorel-Tracy, Quebec, a major milestone for the company as it generates its first revenues.
Charbone Hydrogen CEO Dave Gagnon said in a statement.
“Patrick’s extensive experience in industrial gases, particularly in operations and supply chain management, will significantly strengthen our team as we move from planning to execution,”
“As we prepare to generate our first revenues, we are focused on increasing shareholder value through efficient operations and strategic growth.”
Charbone is set to commence green hydrogen production at its Sorel-Tracy facility later this year, with a second site near Detroit, Michigan, expected to come online by the year-end.
Jefferies has initiated coverage on Reddit (NYSE:RDDT), citing the platform’s impressive user growth, particularly after integrating AI-driven enhancements and improving its platform speed.
Analysts initiated coverage with a “Buy” rating and a $90 price target, which implies a 28% upside from the current price.
Jefferies analysts highlighted that user growth accelerated to the highest level in over two years, with user engagement seeing a notable boost—51% in Q2 2024 alone.
A key aspect of Jefferies’ analysis is Reddit (NYSE:RDDT)’s monetization potential. The analysts point out that Reddit’s revenue per user (ARPU) is significantly lower compared to competitors like Pinterest and Snapchat, but this gap presents a “long runway for increased monetization.”
Jefferies believes that innovations in ad formats, increased ad loads, and new partnerships will lead to sustainable 20%+ revenue growth through 2027.
Additionally, Reddit’s vast database of user-generated content has made it an attractive partner for developers of generative AI models, leading to lucrative data licensing agreements with companies like Google and OpenAI. Jefferies expects further partnerships with other AI players like Amazon and Anthropic, driving additional high-margin revenue.
Analysts belive that the upside potential in advertising and data licensing could lead to a 50% EBITDA growth rate over the next three years.
Shares of Reddit traded around 1.7% higher at $71.96 by midafternoon Wednesday.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) executive chairman Neil Herbert talked with Proactive’s Stephen Gunnion about the company’s latest milestone: receiving a mine operating permit for the Ewoyaa Lithium Project in Ghana. This is part of the company’s broader permitting efforts, following the environmental permit obtained last month.
Herbert said completing all permitting stages will allow Atlantic Lithium to set a date for breaking ground in 2024. The Ewoyaa project is expected to begin production by the end of 2026 and reach full production by 2027, making it Ghana’s first lithium mine. Herbert described the project as having a strong cost profile, even in challenging lithium markets.
Herbert highlighted current M&A activity, noting Rio Tinto’s proposed acquisition of US-listed Arcadium Lithium, saying the sector is ripe for consolidation, but emphasised Atlantic Lithium’s focus on taking the Ewoyaa project into production.
US banks’ third quarter earnings are expected to benefit from upcoming Federal Reserve rate cuts, Bank of America analysts believe.
Reduced rates could be a positive development for banks, particularly in a scenario where customer activity rebounds contributing to an economic soft landing, the analysts wrote in a note to clients.
They see the expected rate cuts as a favorable driver of price-to-earnings (P/E) ratios, with the prospect of improved loan growth, mortgage demand, and investment banking activity.
Bank of America recommended focusing on regional banks over larger money center institutions in the upcoming quarterly results.
Regional banks are better positioned to defend their net interest income (NII) and net interest margins (NIM), thanks to more flexible deposit strategies, effective hedging, and greater capital relief from reduced mark-to-market losses on bond portfolios, they wrote.
Overall, they project a decline in NIM and NII through the fourth quarter of 2024 and into early 2025, with stabilization expected by mid-2025.
Loan growth is predicted to remain flat in the near term but should begin to recover later in 2025.
Credit metrics are forecast to see a slight increase in net charge-offs next year, while capital markets activity for regional banks is expected to grow by 5% to 10% year-over-year, with mortgage activity forecasted to rise by 30%.
Among Bank of America’s top picks for the quarter are ‘Buy’-rated US Bancorp (NYSE:USB), Western Alliance, PNC Financial Services Group Inc (NYSE:PNC), Fifth Third Bancorp (NASDAQ:FITB), M&T Bank Corp (NYSE:MTB), and Truist Financial Corp (NYSE:TFC).
On the other hand, Comerica Inc (NYSE:CMA) has been downgraded to ‘Underperform,’ as its valuation appears full and the downside risks remain unaccounted for.
Morgan Stanley (NYSE:MS) and Goldman Sachs Group Inc (NYSE:GS, ETR:GOS) are identified as particularly well-positioned for positive EPS revisions in the coming quarters.
Bank of America pointed out the potential for a rebound in investment banking activity and an increase in asset flows into higher-margin products.
Morgan Stanley (NYSE:MS), after a period of stock underperformance, is seen as “particularly compelling” given its renewed focus on trading market share and increased exposure to the equities business, which could help it regain its premium valuation.
The analysts also noted the sentiment towards Bank of New York Mellon Corp (NYSE:BK, ETR:BN9) is “unmatched.”
“Investor sentiment on the stock is the most positive across our 40 plus banks coverage based on our conversations as management execution getting attention,” they wrote.
Alternus Clean Energy Inc (NASDAQ:ALCE, OTC:ACLEW) announced that it will be implementing a 1-for-25 reverse stock split as part of its efforts to regain compliance with the $1 minimum bid price requirement for the Nasdaq Capital Market.
It is expected the company’s stock will start trading on a post-split basis at the opening of the market on October 11 under its existing ticker symbol “ALCE.”
Alternus Energy CEO Vincent Browne said in a statement.
“This capital restructuring does not change the fundamental value of the company, but along with recent actions to de-lever our balance sheet, it does increase our access to the capital we need to execute our long-term growth strategies,”
“These strategies include partnerships and acquisitions to build our presence in high-growth renewable energy segments that will complement our existing utility-scale solar IPP business.”
He highlighted the company’s recently announced joint venture (JV) with Hover Energy as an example of this strategy.
Browne said.
“We are targeting additional joint ventures and investments in other energy segments that are accretive to the group both operationally and financially,”
“We are confident that executing these strategies will provide a strong foundation for long-term shareholder value.”
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Charbone Hydrogen adds industry expert to team ahead of flagship project launch, source