Latest News for First Au Stock (OTC:FRSAF)

First Au Ltd is engaged in the exploration of gold and base metals in Western Australia. It Victorian Gold Project and Gimlet Gold Project. The company operates in one reporting segment in Australia which is exploration for gold and base metals.

First Au Ltd

RBC Capital analyst Mark Dwelle maintains Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) with a Outperform and lowers the price target from $295 to $285.

News

Price Target

Analyst Ratings

RBC Capital Maintains Outperform on Chubb, Lowers Price Target to $285

WIIM

CNMD

CONMED shares are trading lower after the company reported Q1 financial results. Needham, Piper Sandler and Wells Fargo lowered their respective price targets on the stock.

Raymond James analyst Jayson Bedford maintains Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) with a Strong Buy and raises the price target from $73 to $85.

Raymond James Maintains Strong Buy on Boston Scientific, Raises Price Target to $85

RBC Capital analyst Shagun Singh maintains Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) with a Outperform and raises the price target from $78 to $82.

RBC Capital Maintains Outperform on Boston Scientific, Raises Price Target to $82

Whirlpool shares are trading lower after the company reported Q1 financial results. The company announced that it is currently evaluating certain follow-on restructuring actions for the remainder of 2024 and expects to incur about $50 million of restructuring charges.

RBC Capital analyst Jon Arfstrom maintains BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) with a Sector Perform and raises the price target from $94 to $98.

BOKF

RBC Capital Maintains Sector Perform on BOK Financial, Raises Price Target to $98

Raymond James analyst Michael Rose reiterates BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) with a Outperform and raises the price target from $103 to $105.

Reiteration

Raymond James Reiterates Outperform on BOK Financial, Raises Price Target to $105

Honeywell International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) reported first-quarter <a href="https://www.benzinga.com/pressreleases/24/04/n38424276/honeywell-delivers-strong-first-quarter-results-and-beats-earnings-guidance" target="_blank" rel="noreferrer noopener">fiscal 2024 sales of $9.105 billion</a>.
That&#8217;s up 3% year-over-year on a reported basis and and increase of 3% on an organic basis, beating the consensus of $9.03 billion.
The sales increase was attributed to solid growth in Aerospace Technologies and Energy and Sustainability Solutions.
Adjusted EPS was $2.25 (+9% Y/Y), beating the consensus of $2.17.
Sales by Segments: 
<ul>
<li>Aerospace Technologies$3.67 billion (+18% Y/Y)</li>
<li>Industrial Automation $2.48 billion (-12% Y/Y)</li>
<li>Building Automation $1.43 billion (-4% Y/Y)</li>
<li>And Energy and Sustainability Solutions $1.53 billion (+4% Y/Y).</li>
</ul>
Related: <a href="https://www.benzinga.com/news/earnings/24/04/38423090/honeywell-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-street" target="_blank" rel="noreferrer noopener">Honeywell Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Operating margin expanded by 130 bps to 20.4%. Segment margin expanded by 20 bps to 22.2%, driven by expansion in Aerospace Technologies.
Net cash provided by operating activities for the quarter was $448 million compared to cash used of $million a year ago. Free cash flow was $215 million versus cash outflow of $977 million YoY. (+22% Y/Y).
As long-cycle customer demand remained strong, Honeywell&#8217;s robust backlog increased 6% year over year. It was up sequentially, ending the quarter at a record level of $32 billion, Honeywell CEO Vimal Kapur said. 
&#8220;We also experienced pockets of recovery in short cycle, and expect broader participation as the year unfolds and channels normalize further,&#8221; Kapur said.
Honeywell held cash and equivalents of about $11.756 billion as of March 31, 2023. The company deployed $1.6 billion of capital to share repurchases, dividends, and capital expenditures.
During the quarter, Honeywell announced <a href="https://www.benzinga.com/markets/equities/24/03/37952822/honeywell-takes-flight-in-autonomous-future-with-civitanavi-acquisition" target="_blank" rel="noreferrer noopener">its intention to acquire Civitanavi Systems</a>, further strengthening its navigation offerings in Aerospace and expanding its footprint in Europe.
Q2 Outlook: Honeywell expects sales of $9.2 billion-$9.5 billion versus the consensus of $9.38 billion, Adjusted EPS of $2.25 &#8211; $2.35 versus the consensus of $2.35, and segment margin of 22% &#8211; 22.4%.
2024 Outlook:&nbsp;Honeywell expects sales of $38.1 billion-$38.9 billion versus the consensus of $38.84 billion, with organic sales growth from 4% to 6%.
Honeywell expects Segment margin in the range of 23% to 23.3%, with segment margin expansion of 30 to 60 basis points.
Honeywell sees an adjusted EPS of $9.80-$10.10 versus a consensus of $9.95; anticipates operating cash flow of $6.7 billion-$7.1 billion and free cash flow of $5.6 billion-$6 billion.
Price Action: Honeywell shares are trading higher by 1.13% at $197 premarket at the last check Thursday.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">US Growth Slows In Q1, Yet Inflation Acceleration Signals Stagflation &#8211; &#8216;The Worst Possible Outcome For The Fed&#8217;</a>
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Earnings

Guidance

Honeywell Aerospace Advances Drive Solid Q1 Results, Exceed Expectations

Plug Power, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Thursday</a>.
In a press release, the company said it has inked two additional contracts to deliver Basic Engineering and Design Packages (BEDP)<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38426123/plug-signs-additional-bedp-contracts-for-a-total-of-4-5gw-of-electrolyzers-across-europe-and-the-u" rel="noreferrer noopener">&nbsp;for projects in Europe and the U.S.</a>
The orders have a combined capacity of up to 350 megawatts of electrolyzers. To date, Plug Power has already delivered 25 electrolyzer systems to third-party customers.&nbsp;
&#8220;Electrolyzer sales present a substantial business opportunity for us,&#8221; said Plug Power&#8217;s General Manager of Energy Solutions and Chief Strategy Officer Sanjay Shrestha.
Throughout&nbsp;2024, the company plans to deliver 40 electrolyzer&nbsp;systems for a cumulated total of 189 megawatts.
Plug Power is delivering and installing electrolyzers in Europe, the&nbsp;Middle East, the U.S., India, New Zealand, Korea, Japan, Australia, and Africa.&nbsp;&nbsp;
The latest deals boost Plug Power&#8217;s overall BEDP portfolio, bringing&nbsp;the total amount of&nbsp;global BEDP contracts to 4.5 gigawatts.
Earlier this year, Plug finalized a 500 megawatts&nbsp;contract in Europe. With the addition of this 350 megawatts&nbsp;contract, the company has&nbsp;now&nbsp;closed 850 megawatts&nbsp;of BEDP contracts in just four months.
Price Action: PLUG shares are trading lower by 3.9% to $2.3150 at the last check Thursday.
Photo via Shutterstock

Equities

Markets

Movers

General

PLUG

Plug Power Down 4% Thursday - What's Going On?

ASE Technology Holding Co, Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASX#NYSE">ASX</a>) reported a fiscal first-quarter 2024 net revenue growth of 1.5% year-on-year to NT$132.80 billion ($4.24 billion), missing the <a href="https://www.benzinga.com/pressreleases/24/04/n38422762/ase-technology-holding-co-ltd-reports-its-unaudited-consolidated-financial-results-for-the-first-q" target="_blank" rel="noreferrer noopener">consensus of $4.41 billion</a>. The revenue declined by 17.3% quarter-on-quarter.
Net revenues for ATM (assembly, testing, and material) business was NT$73.91 billion, up by 0.8% Y/Y and down by 9.9% Q/Q.&nbsp;
EMS (electronic manufacturing services) net revenues were NT$59.37 billion, up by 2.8% Y/Y and down by 25.0% Q/Q.
Gross margin increased by 94 bps Y/Y to 15.7%. The operating margin declined by 21 bps Y/Y to 5.7%.
Diluted EPS was NT$1.28 (or $0.084 per ADS) vs.&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus $0.100</a>.
Capital expenditures totaled $228 million.
ASE Technology Holding stock gained over 44% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) and&nbsp;First Trust NASDAQ Technology Dividend Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDIV#NASDAQ">TDIV</a>).
Price Action: ASX shares are down 2.2% at $10.13 at the time of publication Thursday.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">US Growth Slows In Q1, Yet Inflation Acceleration Signals Stagflation: &#8216;The Worst Possible Outcome For The Fed&#8217;</a>
Image generated using artificial intelligence via Midjourney.

Topics

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

TDIV

ASE Technology Falls Short Of Revenue Goals, Delivers Mixed Q1 Results

Scotiabank analyst Konark Gupta maintains Canadian Pacific Kansas (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CP#TSX">CP</a>) with a Sector Perform and lowers the price target from C$126 to C$124.

TSX:CP

Scotiabank Maintains Sector Perform on Canadian Pacific Kansas, Lowers Price Target to C$124

Stephens &amp; Co. analyst Justin Long maintains Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) with a Overweight and raises the price target from $165 to $180.

Stephens & Co. Maintains Overweight on Westinghouse Air Brake, Raises Price Target to $180

Raymond James analyst Matt Roberts reiterates Avery Dennison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) with a Outperform and raises the price target from $225 to $240.

Raymond James Reiterates Outperform on Avery Dennison, Raises Price Target to $240

Chinese electric vehicle (EV) manufacturer&nbsp;XPeng&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) is reportedly considering overseas production amid an ongoing European investigation into&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38288608/why-xpeng-shares-are-rising-today" rel="noreferrer noopener">Chinese-made EVs and regulatory adjustments.</a>
The European Commission initiated an investigation&nbsp;in October,&nbsp;questioning whether Chinese-made EVs, bolstered by state subsidies, gain an unfair advantage.
China has criticized the probe as protectionist. Brian Gu, co-president of&nbsp;Volkswagen&nbsp;AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>)-backed XPeng, mentioned during the Beijing auto show that the company currently exports limited&nbsp;quantities of&nbsp;EVs, reported Reuters.
However, evolving regulatory landscapes in the European Union might necessitate a strategic review.
While XPeng&nbsp;eyes&nbsp;a significant uptick in international sales, currently comprising 1%-2% of total sales, this figure could soar to approximately 10% this year, as per the report.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38424183/tesla-is-betting-big-on-robotaxi-but-this-rival-thinks-elon-musks-vision-could-be-more-than-5-years" rel="noreferrer noopener">Tesla Is Betting Big On Robotaxi, But This Rival Thinks Elon Musk&#8217;s Vision Could Be &#8216;More Than 5 Years Away&#8217;</a>
Notably,&nbsp;the company aims to penetrate the U.S. market, albeit challenges hinder definitive entry plans.
Amid scrutiny of Chinese EV exports by Europe and the U.S., XPeng emphasized the importance of supporting the global transition to green technology.
Despite hurdles, the company eyes expansion into European markets such as France, Italy, and the U.K., bolstering its existing presence in the Netherlands, Norway, and Germany.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38386240/automotive-industry-shifts-gears-electric-cars-to-dominate-roads-by-2030" rel="noreferrer noopener">Automotive Industry Shifts Gears: Electric Cars To Dominate Roads By 2030</a>
Price Action: XPEV shares are trading lower by 0.85% at $7.02 at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image by Robert Way via Shutterstock

Media

VWAGY

XPEV

XPeng Fears Tariff Hike In Europe, Reportedly Considers Investing Abroad

AMSF

AMERISAFE shares are trading lower after the company reported Q1 financial results.

Scotiabank analyst George Farmer maintains Biomarin Pharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) with a Sector Perform and raises the price target from $83 to $85.

BMRN

Scotiabank Maintains Sector Perform on Biomarin Pharmaceutical, Raises Price Target to $85

WNS shares are trading lower after the company issued FY25 guidance with a midpoint below estimates.

In a tumultuous day for tech stocks, the collective market value of the Magnificent 7 tech giants plummeted by over $300 billion in the first trading hour on Thursday, primarily fueled by a weaker-than-expected revenue outlook from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and concerning economic indicators arising from the first-quarter<a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38429782/us-economy-grows-1-6-in-q1-slightly-below-expectations-as-price-pressures-weigh-o"> gross domestic product release.</a>
What Happened: Meta Platforms outperformed Wall Street's expectations with first-quarter revenue of $36.45 billion, a 27% increase year-over-year, and earnings per share of $4.71, beating the predicted $4.32. Investors pulled back after the social media giant issued subdued guidance <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">for the upcoming quarter.</a> 
The company&#8217;s forecast for the second quarter anticipates revenue between $36.5 billion and $39 billion, putting the lower end of the range below the consensus estimate of $38.3 billion. 
Additionally, the social media giant anticipates increases in infrastructure and legal costs — pushing full-year expenses to between $96 billion and $99 billion. 
Compounding the tech sector&#8217;s woes were the latest GDP figures released Thursday by the Bureau of Labor Statistics. 
The U.S. economy expanded at a significantly reduced pace of 1.6% on an annualized basis in the first quarter of 2024, a sharp deceleration from the previous quarter&#8217;s 3.4% growth rate and well below the forecasted 2.5%.
Inflation concerns were reignited with the Personal Consumption Expenditure (PCE) price indices for the first quarter showing an increase. 
The headline PCE price index accelerated from 1.8% in the previous quarter to 3.4% , while the core PCE price index, which excludes food and energy prices and is a key inflation measure for the Federal Reserve, climbed from 2% to 3.7%, surpassing expectations of 3.4%.
Read also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">US Growth Slows In Q1, Yet Inflation Acceleration Signals Stagflation: &#8216;The Worst Possible Outcome For The Fed&#8217;</a>
<h3 class="wp-block-heading">Mag7 Stocks, Bond Market React</h3>
The Magnificent Seven had cumulatively wiped out $303 billion of market value by 11 a.m. in New York. 
Meta suffered the heaviest losses, down 13%, shedding $143 billion alone. Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) also sharply contributed to the tech market rout, wiping out $126 billion, down 4.3% ahead of the company&#8217;s earnings report after the market close. 
Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) both witnessed similar declines, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) managed to avoid losses. 
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) saw some gains, outperforming the basket.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) fell 3%. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Market Cap</th>
<th>Market Cap Loss/Gain (1-day)</th>
<th>1-Day % Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Microsoft Corporation</td>
<td>$2,905.08B</td>
<td>-$128.47B</td>
<td>-4.37%</td>
</tr>
<tr>
<td>Apple Inc.</td>
<td>$2,602.88B</td>
<td>-$7.08B</td>
<td>-0.27%</td>
</tr>
<tr>
<td>NVIDIA Corporation</td>
<td>$2,018.70B</td>
<td>+$59.39B</td>
<td>+2.94%</td>
</tr>
<tr>
<td>Alphabet Inc.</td>
<td>$1,933.75B</td>
<td>-$54.09B</td>
<td>-2.76%</td>
</tr>
<tr>
<td>Amazon.com, Inc.</td>
<td>$1,783.97B</td>
<td>-$51.15B</td>
<td>-2.81%</td>
</tr>
<tr>
<td>Meta Platforms, Inc.</td>
<td>$1,101.35B</td>
<td>-$132.35B</td>
<td>-13.17%</td>
</tr>
<tr>
<td>Tesla, Inc.</td>
<td>$528.24B</td>
<td>+$11.44B</td>
<td>+1.60%</td>
</tr>
<tr>
<td>Total</td>
<td>$12,873.97B</td>
<td>-$302.91B</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 11:00 a.m. ET. </figcaption></figure>
Treasury yields, particularly the two-year note, surged past 5%, reflecting heightened investor anxiety over inflation and its potential implications for future Federal Reserve actions. 
This resulted in a broad sell-off in bonds, with significant losses noted in long-term treasury ETFs such as the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), which declined 0.8%.
The broader stock market also felt the pinch, with major indices recording significant losses. 
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and the tech-heavy Nasdaq 100 index, as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), fell by 1.4% and 1.7%, respectively. 
Notably, the communication services sector was among the hardest hit, with the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) plunging 4.4%, marking its worst session since October 2022.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38415577/tesla-posts-strongest-session-since-january-2022-is-a-trend-reversal-underway">Tesla Posts Strongest Session Since January 2022: Is A Trend Reversal Underway?</a>
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Large Cap

Macro Economic Events

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Sector ETFs

Bonds

Broad U.S. Equity ETFs

Treasuries

Econ #s

Economics

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Intraday Update

Tech

ETFs

AAPL

AMZN

GOOGL

MAGS

MSFT

NVDA

iShares Trust Barclays 20+ Year Treasury Bond Fund

TSLA

Magnificent 7 Tumble, Wipe Out $300 Billion On Meta's Weak Guidance, Q1 Stagflation Woes

Scotiabank analyst Andres Coello maintains America Movil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMX#NYSE">AMX</a>) with a Sector Perform and raises the price target from $16.6 to $17.2.

Scotiabank Maintains Sector Perform on America Movil, Raises Price Target to $17.2

With the average one-bedroom, 600-square-foot New York City apartment renting for about $3,760 per month, rent prices have stretched affordability for the city's residents.
It's no wonder politicians have sought to make housing more affordable in the city, but a policy aimed at doing so has been blamed, in part, for the struggles of New York Community Bancorp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>), which has seen its stock drop over 72% year to date.
NYCB has been hit with a double whammy. In 2019, a change in New York's law limited rent increases, which subsequently lowered profits for building owners. Combined with high interest rates, building debt and maintenance costs have soared without revenue growing at the same rate.
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"This is going to end poorly for the city because we&#8217;re all on borrowed time and someone has to pay," StoneCastle Partners CEO Joshua Siegel said.
Despite a $1 billion cash infusion in March by a group of investors, including former U.S. Treasury Secretary Steven Mnuchin's firm, NYCB's share price is plummeting.
In an interview with CNBC, Mnuchin shared his belief that "a billion dollars into the balance sheet really strengthens the franchise" and that "whatever issues there are in the loans we'll be able to work through."
However, not everyone believes the billion-dollar capital infusion in the business will be enough.
Whalen Global Advisors Chairman Chris Whalen said $1 billion is far from enough.&nbsp;
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"We need 10," he said, adding that $1 billion is "chump change" in this situation.
Last March, NYCB bought the assets of Signature Bank, which was caught up in the 2023 regional banking crisis that took down Silicon Valley Bank.
Silicon Valley Bank was the second-largest bank collapse in U.S. history behind Washington Mutual's 2008 collapse.
In the span of a few days, its concentrated deposit base of tech startups with limited deposits insured by the Federal Deposit Insurance Corp. led to a fear-driven bank run, ultimately forcing the banks to shut down.
NYCB also has some concentration risk. According to The Real Deal, a real estate news provider, approximately 22% of NYCB's loan book is tied up in rent-controlled New York City buildings.
Yahoo Finance senior reporter David Hollerith writes that the scope of the problem is much worse. He said roughly half of NYCB's portfolio is tied to rent-controlled multifamily complexes in New York City.
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