Mr. Trump revved up supporters Saturday at the Conservative Political Action Conference outside Washington-an event Mr. DeSantis skipped-while the governor appeared before Republican groups in Texas and gave a speech Sunday afternoon at the Ronald Reagan Presidential Library in California. The two will then descend on Iowa, which holds the first GOP nominating contest.
China Favors Chips, AI Executives Over Internet Tycoons at Top Political Meetings
A number of prominent Chinese internet executives have been left out of the country's top political meetings in Beijing this week, giving way to experts in artificial intelligence and semiconductors as Chinese leader Xi Jinping's priorities shift amid rising technology competition with the U.S.
Pony Ma, Robin Li and William Ding, the chief executives of Chinese internet companies Tencent Holdings Ltd., Baidu Inc. and NetEase Inc. respectively, are conspicuous in their absence from this year's list of delegates to the National People's Congress, China's legislative body, and the Chinese People's Political Consultative Conference, a political advisory body. Also missing was Lenovo Group Ltd. CEO Yang Yuanqing.
China's Military-Spending Growth to Accelerate to 7.2% This Year
BEIJING-China plans to boost its military spending by 7.2% this year, the government said Sunday, accelerating its military buildup as tensions rise with the U.S. and its allies over Taiwan.
Total military expenditures this year will reach the equivalent of about $224 billion, according to a draft budget report issued at the opening of the annual gathering of China's National People's Congress. That growth rate would be the fastest since 2019 and exceeds Beijing's target for gross domestic product growth this year.
Pentagon Sees Giant Cargo Cranes as Possible Chinese Spying Tools
WASHINGTON-U.S. officials are growing concerned that giant Chinese-made cranes operating at American ports across the country, including at several used by the military, could give Beijing a possible spying tool hiding in plain sight.
Some national-security and Pentagon officials have compared ship-to-shore cranes made by the China-based manufacturer, ZPMC, to a Trojan horse. While comparably well-made and inexpensive, they contain sophisticated sensors that can register and track the provenance and destination of containers, prompting concerns that China could capture information about materiel being shipped in or out of the country to support U.S. military operations around the world.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Amer. Gold and Silver 4Q
Cargojet 4Q
Element Fleet 4Q
Wajax 4Q
Economic Calendar (ET):
1000 Feb Ivey Purchasing Managers Index
Stocks to Watch:
International Petroleum Completed Acquisition of Oil and Gas Assets in Suffield Area, Southern Alberta; Forecast Avg Net Daily Production of About 4,000 BOE From These Assets for 2023; Expects to Be Above High End of Avg Daily Production Guidance for 1Q
Touchstone Exploration 2022 Year-End Reserves Point to Portfolio's Resilience
Touchstone Exploration's 2022 year-end reserves performance across the 1P, 2P and 3P categories shows the resilience and low-decline nature of its portfolio, Shore Capital analyst Craig Howie says in a note.
The company completed its Trinidad and Tobago onshore Coho gas facility in 2022 and continues construction work at the major Cascadura discovery, adding that first gas from Coho in October helped achieve a 33% increase in proved developed producing reserves, Howie says.
"We... continue to see excellent scope for patience to be rewarded... and maintain every confidence that Cascadura will be onstream and contributing substantial revenues in the not-too-distant future," Shore says. Shore Capital has Touchstone as a house stock. Shares are up 1.4% at 70.50 pence.
Expected Major Events for Monday
02:00/JPN: Feb Imported Vehicle Sales
09:00/UK: Feb UK monthly car registrations figures
09:30/UK: Feb S&P Global / CIPS UK Construction PMI
15:00/US: Jan Manufacturers' Shipments, Inventories & Orders (M3)
15:00/CAN: Feb Ivey Purchasing Managers Index
23:50/JPN: Feb International Reserves / Foreign Currency
23:50/JPN: Feb Provisional Trade Statistics for 1st 20 days of Month
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Monday
Air Industries Group (AIRI) is expected to report for 4Q.
Arcturus Therapeutics Holdings Inc (ARCT) is expected to report for 4Q.
Aris Water Solutions Inc (ARIS) is expected to report for 4Q.
BioLife Solutions (BLFS) is expected to report $-0.17 for 4Q.
Biodesix Inc (BDSX) is expected to report for 4Q.
Canoo Inc (GOEV) is expected to report for 4Q.
Cargojet (CGJTF) is expected to report $2.06 for 4Q.
Ceco Environmental (CECO) is expected to report $0.09 for 4Q.
Ciena Corp (CIEN) is expected to report $0.19 for 1Q.
Coffee Holding Co Inc (JVA) is expected to report $0.06 for 4Q.
Coherus Biosciences Inc (CHRS) is expected to report $-0.98 for 4Q.
Consumer Portfolio Services Inc (CPSS) is expected to report $0.15 for 4Q.
Danimer Scientific Inc (DNMR) is expected to report for 4Q.
Domo Inc (DOMO) is expected to report $-0.60 for 4Q.
Element Fleet Management Corp (EFN.T) is expected to report $0.21 for 4Q.
Endo International PLC (ENDP-T,ENDPQ) is expected to report $0.14 for 4Q.
Enterprise Group is expected to report for 4Q.
Fastenal Co (FAST) is expected to report.
Gaia Inc (GAIA) is expected to report $-0.03 for 4Q.
Heron Therapeutics Inc (HRTX) is expected to report $-0.32 for 4Q.
ICAD (ICAD) is expected to report $-0.14 for 4Q.
INDUS Realty Trust Inc (INDT) is expected to report for 4Q.
Instil Bio Inc (TIL) is expected to report for 4Q.
KVH Industries (KVHI) is expected to report $-0.03 for 4Q.
LB Foster Co (FSTR) is expected to report $0.01 for 4Q.
Lordstown Motors Corp (RIDE) is expected to report for 4Q.
Ocular Therapeutix Inc (OCUL) is expected to report $-0.25 for 4Q.
Otonomy Inc (OTIC) is expected to report $-0.47 for 4Q.
P10 Inc (PX) is expected to report for 4Q.
Pactiv Evergreen Inc (PTVE) is expected to report for 4Q.
Party City Holdco Inc (PRTYQ) is expected to report $-0.02 for 4Q.
Pieris Pharmaceuticals Inc (PIRS) is expected to report $-0.21 for 4Q.
Quanterix Corp (QTRX) is expected to report $-0.52 for 4Q.
Quantum-Si Inc (QSI) is expected to report for 4Q.
Scholar Rock Holding Corp (SRRK) is expected to report $-0.57 for 4Q.
Science 37 Holdings Inc (SNCE) is expected to report for 4Q.
Tabula Rasa HealthCare Inc (TRHC) is expected to report $-0.44 for 4Q.
VBI Vaccines Inc (VBIV,VBV-T) is expected to report $-0.07 for 4Q.
WW International Inc (WW) is expected to report for 4Q.
Zynex Inc (ZYXI) is expected to report for 4Q.
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ANALYST RATINGS ACTIONS
Altra Industrial Motion Cut to Hold From Buy by Loop Capital
Ardelyx Raised to Outperform From Neutral by Wedbush
Asana Raised to Buy From Neutral by DA Davidson
BRP Group Cut to Market Perform From Outperform by William Blair
CareDx Cut to Hold From Buy by Craig-Hallum
CareDx Cut to Market Perform From Strong Buy by Raymond James
Casey's General Stores Raised to Neutral From Underweight by JP Morgan
Chesapeake Energy Cut to Equal-Weight From Overweight by Wells Fargo
Correction to ChargePoint Rating
Domino's Pizza Cut to Hold From Buy by Gordon Haskett
Douglas Emmett Cut to Underperform From Market Perform by BMO Capital
Empire State Realty Trust Raised to Outperform From Market Perform by BMO Capital
First Solar Raised to Buy From Neutral by UBS
Flowers Foods Raised to Hold From Sell by Deutsche Bank
Hormel Foods Cut to Underweight From Neutral by JP Morgan
Itron Cut to Underweight From Neutral by JP Morgan
Kroger Raised to Overweight From Neutral by JP Morgan
LivePerson Raised to Buy From Hold by Craig-Hallum
Marathon Petroleum Raised to Buy From Hold by Jefferies
Neurocrine Raised to Outperform From In-Line by Evercore ISI Group
Pioneer Natural Raised to Equal-Weight From Underweight by Wells Fargo
Procter & Gamble Raised to Overweight From Neutral by JP Morgan
Radius Global Infra Cut to Neutral From Outperform by Credit Suisse
Radius Global Infra Cut to Underperform From Strong Buy by Raymond James
RadNet Raised to Outperform From Market Perform by Raymond James
Samsara Raised to Buy From Neutral by Goldman Sachs
Tesla Cut to Neutral From Outperform by KGI Securities
Vornado Cut to Underperform From Market Perform by BMO Capital
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
03-06-23 0619ET