Starboard Value initiated a sizable position in Fluor, an engineering and construction firm tied to large industrial and energy projects. As investment in infrastructure, manufacturing, and energy facilities drives new project pipelines, investors are watching whether Fluor can convert that activity into steadier earnings.
Starboard Value LP has established a significant position in Clearwater Analytics, a provider of cloud-based investment accounting software for insurers and asset managers. The company is embedded within the back-office infrastructure of institutional portfolios, where systems are challenging to replace and regulatory reporting is ever-present.
Algonquin Power & Utilities Corp. (AQN) expects strong financial outlook from 2025-2027 with improved expenses, earned ROE and utility capital expenditures.
For 2024, Algonquin is expected to report an EPS of $0.39 and revenue of $2.71 billion. While it beat earnings expectations in 2024, it missed revenue expectations.
All three major indices were red in Friday’s midday trading, with the S&P 500 and Nasdaq 100 down 1% and 1.24%, respectively, and on track for their worst weeks since September 2024.
