Nostal6ie/iStock via Getty Images ITT Inc. ( ITT ) had already been doing well for itself on the back of multiple self-help initiatives, including share-gaining new product introductions, but an upturn in short-cycle markets and a sizable accretive acquisition late in 2025 have added more wind to the company’s sails in 2026. When I last wrote about ITT in December of 2025, I was concerned about th...
Nostal6ie/iStock via Getty Images ITT Inc. ( ITT ) had already been doing well for itself on the back of multiple self-help initiatives, including share-gaining new product introductions, but an upturn in short-cycle markets and a sizable accretive acquisition late in 2025 have added more wind to the company’s sails in 2026. When I last wrote about ITT in December of 2025, I was concerned about the rising valuations for quality flow control companies but thought that self-help could offset at least some of that risk. Since then, ITT shares are up about 6%, lagging the broader industrial space by about eight points. Comparables like Crane ( CR ), Flowserve ( FLS ), Parker-Hannifin ( PH ), Sulzer ( SUZRY ), and Weir ( WEGRY ) have likewise lagged. ITT is a case where I like, and believe in, the business for the long term, but I do have short-term valuation and sentiment concerns. I wouldn’t necessarily say that the Street has bailed out and moved on, but valuation is demanding and rewards the business for the quality and growth potential present. That said, investments in top companies have a way of working out over the long term, and I’m reluctant to sell out of a winner that is executing well and still leveraged to improving markets and growth opportunities. Another Beat-And-Raise Quarter ITT did its part to keep sentiment positive with a stronger than expected first quarter and better guidance for the remainder of the year. While there are some areas of weakness in process end-markets, short-cycle markets are healthy, and the company continues to gain share in areas like brakes while also leveraging growth opportunities in aerospace and defense. Revenue rose 11% in organic terms this quarter, beating by about 10%. While that sounds impressive, and ITT did beat on an organic basis, the real underlying beat looks to be more on the order of 5% to 7%, with the rest coming from the unpredictability of the SPX FLOW contribution, as that deal closed during the quarter and...
A San Diego police department is facing a lawsuit after jailing a man for a month based on a Flock camera alert that cops allegedly should have known, based on the timestamp, did not depict the car that they were looking for. Last November, Hugo Parra was arrested on felony charges after San Diego police relied on Flock data and a witness statement to wrongly connect him to an attempted carjacking...
A San Diego police department is facing a lawsuit after jailing a man for a month based on a Flock camera alert that cops allegedly should have known, based on the timestamp, did not depict the car that they were looking for. Last November, Hugo Parra was arrested on felony charges after San Diego police relied on Flock data and a witness statement to wrongly connect him to an attempted carjacking at gunpoint, the Times of San Diego reported . Cops were looking for a red Alfa Romeo car with tinted windows and a man wearing a gray hoodie, and Parra happened to be wearing a white hoodie while riding in a friend's car that roughly matched the vehicle description. Although Flock cameras can capture license plate data, cops did not have even a partial plate to help them verify if the car was involved in a violent crime. But the Flock data cops used to justify the arrest actually showed that Parra was five miles away at the time of the crime, Parra's attorney, Alex Coolman, told the Times of San Diego. Rather than arrest him, cops could have used that data, as well as Parra's cellphone location data, to corroborate Parra's statement that he was innocent, Coolman said. Read full article Comments
Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." Markets look past Iran tensions as Mike Wilson and Jensen Huang bolster the bull case. Apple eyes an AI-powered reset. Intel surges on reports Google will tap it for millions of AI chips. Plus, SpaceX counts down to the biggest IPO ever, and Ross Hamilton joins Bloomberg Open Interest to says the ...
Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." Markets look past Iran tensions as Mike Wilson and Jensen Huang bolster the bull case. Apple eyes an AI-powered reset. Intel surges on reports Google will tap it for millions of AI chips. Plus, SpaceX counts down to the biggest IPO ever, and Ross Hamilton joins Bloomberg Open Interest to says the space economy is already powering life on Earth. And Al Rabil joins with his 20-year real estate super cycle call. (Source: Bloomberg)
July WTI crude oil (CLN26 ) today is up +1.31 (+1.45%), and July RBOB gasoline (RBN26 ) is up +0.0450 (+1.48%). Crude oil prices are moving sharply higher today amid a flare-up in hostilities between Iran and Israel that threatens to derail a truce and complicate negotiations to end the...
July WTI crude oil (CLN26 ) today is up +1.31 (+1.45%), and July RBOB gasoline (RBN26 ) is up +0.0450 (+1.48%). Crude oil prices are moving sharply higher today amid a flare-up in hostilities between Iran and Israel that threatens to derail a truce and complicate negotiations to end the...
July arabica coffee (KCN26 ) today is down -0.90 (-0.37%), and July ICE robusta coffee (RMN26 ) is up +20 (+0.60%). Coffee prices are mixed today as the ongoing harvest in Brazil is weighing on prices. Weakness in the Brazilian real (^USDBRL ) is also negative for coffee prices as...
July arabica coffee (KCN26 ) today is down -0.90 (-0.37%), and July ICE robusta coffee (RMN26 ) is up +20 (+0.60%). Coffee prices are mixed today as the ongoing harvest in Brazil is weighing on prices. Weakness in the Brazilian real (^USDBRL ) is also negative for coffee prices as...