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Extreme Networks (EXTR - Free Report) closed the latest trading day at $16.90, indicating a +0.66% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.53%. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.19%.
Shares of the maker of network infrastructure equipment have depreciated by 5.3% over the course of the past month, underperforming the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 2.48%.
Investors will be eagerly watching for the performance of Extreme Networks in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 31, 2024. The company's earnings per share (EPS) are projected to be $0.27, reflecting no change from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $295.5 million, down 7.18% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.34 per share and a revenue of $1.35 billion, representing changes of +22.94% and +2.81%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Extreme Networks. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.84% downward. Extreme Networks presently features a Zacks Rank of #4 (Sell).
Looking at its valuation, Extreme Networks is holding a Forward P/E ratio of 12.58. For comparison, its industry has an average Forward P/E of 12.89, which means Extreme Networks is trading at a discount to the group.
It is also worth noting that EXTR currently has a PEG ratio of 0.74. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Computer - Networking stocks are, on average, holding a PEG ratio of 0.74 based on yesterday's closing prices.
The Computer - Networking industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 166, positioning it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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https://www.zacks.com/stock/news/2216179/extreme-networks-extr-laps-the-stock-market-heres-why
| 2024-01-26T00:20:10Z
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In the latest market close, PennantPark (PFLT - Free Report) reached $11.66, with a -0.43% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
Heading into today, shares of the investment company had lost 3.54% over the past month, lagging the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48% in that time.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on February 7, 2024. The company is forecasted to report an EPS of $0.31, showcasing a 3.33% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $35.03 million, showing a 11.78% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.22 per share and a revenue of $145.02 million, signifying shifts of -8.27% and +4.07%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for PennantPark. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, PennantPark holds a Zacks Rank of #3 (Hold).
In terms of valuation, PennantPark is presently being traded at a Forward P/E ratio of 9.57. This signifies a discount in comparison to the average Forward P/E of 10.88 for its industry.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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https://www.zacks.com/stock/news/2216180/pennantpark-pflt-stock-drops-despite-market-gains-important-facts-to-note
| 2024-01-26T00:20:17Z
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In the latest market close, Squarespace (SQSP - Free Report) reached $33.05, with a -0.24% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
Heading into today, shares of the a software company had lost 0.51% over the past month, lagging the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 2.48% in that time.
Market participants will be closely following the financial results of Squarespace in its upcoming release. The company plans to announce its earnings on February 28, 2024. The company is forecasted to report an EPS of $0.17, showcasing a 342.86% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $263.79 million, showing a 15.29% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Squarespace should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Squarespace possesses a Zacks Rank of #5 (Strong Sell).
Looking at valuation, Squarespace is presently trading at a Forward P/E ratio of 72.97. This denotes a premium relative to the industry's average Forward P/E of 23.46.
Meanwhile, SQSP's PEG ratio is currently 1.75. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software and Services was holding an average PEG ratio of 1.15 at yesterday's closing price.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 113, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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https://www.zacks.com/stock/news/2216181/squarespace-sqsp-stock-drops-despite-market-gains-important-facts-to-note
| 2024-01-26T00:20:23Z
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Okta (OKTA - Free Report) closed the most recent trading day at $84.51, moving -0.65% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
Shares of the cloud identity management company witnessed a loss of 6.11% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.21% and the S&P 500's gain of 2.48%.
The investment community will be closely monitoring the performance of Okta in its forthcoming earnings report. The company is forecasted to report an EPS of $0.51, showcasing a 70% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $586.25 million, indicating a 14.95% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.48 per share and a revenue of $2.24 billion, demonstrating changes of +3800% and +20.8%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Okta. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.15% rise in the Zacks Consensus EPS estimate. As of now, Okta holds a Zacks Rank of #2 (Buy).
With respect to valuation, Okta is currently being traded at a Forward P/E ratio of 57.29. This denotes a premium relative to the industry's average Forward P/E of 23.46.
Also, we should mention that OKTA has a PEG ratio of 1.5. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Internet - Software and Services industry stood at 1.15 at the close of the market yesterday.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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https://www.zacks.com/stock/news/2216182/okta-okta-stock-declines-while-market-improves-some-information-for-investors
| 2024-01-26T00:20:29Z
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KLA (KLAC - Free Report) reported $2.49 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 16.7%. EPS of $6.16 for the same period compares to $7.38 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.46 billion, representing a surprise of +1.25%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being $5.88.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how KLA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Product: $1.92 billion compared to the $1.90 billion average estimate based on three analysts. The reported number represents a change of -22% year over year.
- Revenues- Service: $564.92 million versus the three-analyst average estimate of $555.52 million. The reported number represents a year-over-year change of +8.5%.
- Revenues- PCB, Display and Component Inspection: $143.03 million versus $143.08 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -15.8% change.
- Revenues- Specialty Semiconductor Process: $150.07 million compared to the $126.72 million average estimate based on three analysts. The reported number represents a change of -5.1% year over year.
- Revenues- Semiconductor Process Control: $2.19 billion versus $2.16 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -17.4% change.
Shares of KLA have returned +7.9% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216183/kla-klac-q2-earnings-how-key-metrics-compare-to-wall-street-estimates
| 2024-01-26T00:20:35Z
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For the quarter ended December 2023, T-Mobile (TMUS - Free Report) reported revenue of $20.48 billion, up 1% over the same period last year. EPS came in at $1.67, compared to $1.18 in the year-ago quarter.
The reported revenue represents a surprise of +3.99% over the Zacks Consensus Estimate of $19.69 billion. With the consensus EPS estimate being $1.90, the EPS surprise was -12.11%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how T-Mobile performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Prepaid churn: 2.9% versus 2.9% estimated by six analysts on average.
- Postpaid phone churn: 1% versus the six-analyst average estimate of 0.9%.
- Net customer additions - Total postpaid customers - Postpaid phone customers: 934 thousand compared to the 917.5 thousand average estimate based on six analysts.
- Net customer additions - Total postpaid customers: 1,570 thousand compared to the 1,677.04 thousand average estimate based on six analysts.
- Total High Speed Internet net customer additions: 541 thousand compared to the 507.36 thousand average estimate based on six analysts.
- Postpaid phone ARPU: $48.91 versus the six-analyst average estimate of $48.84.
- Revenues- Postpaid revenues: $12.47 billion compared to the $12.53 billion average estimate based on six analysts. The reported number represents a change of +6.4% year over year.
- Revenues- Prepaid revenues: $2.43 billion versus the six-analyst average estimate of $2.45 billion. The reported number represents a year-over-year change of -0.7%.
- Revenue- Other revenues: $261 million versus the six-analyst average estimate of $312.01 million. The reported number represents a year-over-year change of -14.1%.
- Total service revenues: $16.04 billion versus $16.07 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.4% change.
- Equipment revenues: $4.17 billion versus the six-analyst average estimate of $3.32 billion. The reported number represents a year-over-year change of -6.2%.
- Revenues- Wholesale and other service revenues: $1.14 billion compared to the $1.09 billion average estimate based on six analysts. The reported number represents a change of -15.3% year over year.
Shares of T-Mobile have returned +2.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216184/compared-to-estimates-t-mobile-tmus-q4-earnings-a-look-at-key-metrics
| 2024-01-26T00:20:42Z
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Fair Isaac (FICO - Free Report) reported $382.06 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 10.8%. EPS of $4.81 for the same period compares to $4.26 a year ago.
The reported revenue represents a surprise of -1.16% over the Zacks Consensus Estimate of $386.55 million. With the consensus EPS estimate being $4.83, the EPS surprise was -0.41%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fair Isaac performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- On-premises and SaaS software: $168.67 million compared to the $171.85 million average estimate based on two analysts. The reported number represents a change of +16.7% year over year.
- Revenue- Software: $189.95 million versus $196.30 million estimated by two analysts on average.
- Revenues- Scores: $192.11 million versus $195.70 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenues- Professional Services: $21.28 million versus the two-analyst average estimate of $24.45 million. The reported number represents a year-over-year change of -4.7%.
Shares of Fair Isaac have returned +9% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216185/heres-what-key-metrics-tell-us-about-fair-isaac-fico-q1-earnings
| 2024-01-26T00:20:48Z
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For the quarter ended December 2023, L3Harris (LHX - Free Report) reported revenue of $5.34 billion, up 16.6% over the same period last year. EPS came in at $3.35, compared to $3.27 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.29 billion, representing a surprise of +0.98%. The company delivered an EPS surprise of +1.21%, with the consensus EPS estimate being $3.31.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how L3Harris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Integrated Mission Systems: $1.63 billion versus the five-analyst average estimate of $1.71 billion. The reported number represents a year-over-year change of -10.2%.
- Revenue- Space and Airborne Systems: $1.80 billion versus $1.73 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.
- Revenue- Corporate eliminations: -$47 million versus the five-analyst average estimate of -$53.75 million.
- Revenue- Communication Systems: $1.36 billion compared to the $1.29 billion average estimate based on five analysts.
- Revenue- Aerojet Rocketdyne: $597 million versus the four-analyst average estimate of $604.28 million.
- Non-GAAP Operated Income- Integrated Mission System (IMS): $194 million versus the five-analyst average estimate of $221.23 million.
- Non-GAAP Operating Income- Communication Systems (CS): $356 million compared to the $336.11 million average estimate based on five analysts.
- Non-GAAP Operated Income- Space and Airborne Systems (SAS): $191 million compared to the $174.75 million average estimate based on five analysts.
Shares of L3Harris have returned -2.7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216186/heres-what-key-metrics-tell-us-about-l3harris-lhx-q4-earnings
| 2024-01-26T00:20:54Z
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Peapack-Gladstone (PGC - Free Report) came out with quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $1.12 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -10.71%. A quarter ago, it was expected that this bank holding company would post earnings of $0.61 per share when it actually produced earnings of $0.50, delivering a surprise of -18.03%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Peapack-Gladstone
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Peapack-Gladstone shares have lost about 4.5% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for Peapack-Gladstone?
While Peapack-Gladstone has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Peapack-Gladstone: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $54.93 million in revenues for the coming quarter and $2.52 on $229.48 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Citizens Financial Services (CZFS - Free Report) , another stock in the same industry, has yet to report results for the quarter ended December 2023.
This bank is expected to post quarterly earnings of $1.62 per share in its upcoming report, which represents a year-over-year change of -17.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Citizens Financial Services' revenues are expected to be $27.8 million, up 28.6% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216187/peapack-gladstone-pgc-misses-q4-earnings-and-revenue-estimates
| 2024-01-26T00:21:00Z
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Chemung Financial (CHMG - Free Report) came out with quarterly earnings of $0.81 per share, missing the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $1.58 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -30.77%. A quarter ago, it was expected that this financial holding company would post earnings of $1.18 per share when it actually produced earnings of $1.21, delivering a surprise of 2.54%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Chemung Financial
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Chemung Financial shares have lost about 0.8% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for Chemung Financial?
While Chemung Financial has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Chemung Financial: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.11 on $23.23 million in revenues for the coming quarter and $4.95 on $97.4 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Dime Community (DCOM - Free Report) , is yet to report results for the quarter ended December 2023. The results are expected to be released on January 26.
This bank holding company is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of -51.5%. The consensus EPS estimate for the quarter has been revised 5.5% lower over the last 30 days to the current level.
Dime Community's revenues are expected to be $81.01 million, down 23.8% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216188/chemung-financial-chmg-q4-earnings-lag-estimates
| 2024-01-26T00:21:07Z
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Byline Bancorp (BY - Free Report) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 8.96%. A quarter ago, it was expected that this bank holding company would post earnings of $0.61 per share when it actually produced earnings of $0.77, delivering a surprise of 26.23%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Byline Bancorp
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Byline Bancorp shares have lost about 0.7% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for Byline Bancorp?
While Byline Bancorp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Byline Bancorp: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.65 on $100.73 million in revenues for the coming quarter and $2.64 on $406.93 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
LCNB (LCNB - Free Report) , another stock in the same industry, has yet to report results for the quarter ended December 2023.
This holding company for LCNB National Bank is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of -36.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
LCNB's revenues are expected to be $18.3 million, down 7.8% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216189/byline-bancorp-by-beats-q4-earnings-estimates
| 2024-01-26T00:21:13Z
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USCB Financial Holdings, Inc. (USCB - Free Report) came out with quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -22.73%. A quarter ago, it was expected that this company would post earnings of $0.20 per share when it actually produced earnings of $0.19, delivering a surprise of -5%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
USCB Financial Holdings, Inc.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
USCB Financial Holdings, Inc. Shares have lost about 0.5% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for USCB Financial Holdings, Inc.
While USCB Financial Holdings, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for USCB Financial Holdings, Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.23 on $17.68 million in revenues for the coming quarter and $1.01 on $74.4 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, First Reliance Bancshares Inc. (FSRL - Free Report) , has yet to report results for the quarter ended December 2023.
This company is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of -5.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
First Reliance Bancshares Inc.'s revenues are expected to be $9.25 million, down 1.8% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216191/uscb-financial-holdings-inc-uscb-misses-q4-earnings-and-revenue-estimates
| 2024-01-26T00:21:19Z
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Hilltop Holdings (HTH - Free Report) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 10%. A quarter ago, it was expected that this insurance holding compnay would post earnings of $0.43 per share when it actually produced earnings of $0.57, delivering a surprise of 32.56%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Hilltop Holdings
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Hilltop Holdings shares have lost about 3.4% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for Hilltop Holdings?
While Hilltop Holdings has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Hilltop Holdings: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.33 on $291.29 million in revenues for the coming quarter and $1.55 on $1.25 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Bank7 (BSVN - Free Report) , has yet to report results for the quarter ended December 2023. The results are expected to be released on January 29.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -108.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Bank7's revenues are expected to be $21.1 million, down 0.1% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216192/hilltop-holdings-hth-beats-q4-earnings-estimates
| 2024-01-26T00:21:25Z
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Third Coast Bancshares, Inc. (TCBX - Free Report) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 21.28%. A quarter ago, it was expected that this company would post earnings of $0.49 per share when it actually produced earnings of $0.32, delivering a surprise of -34.69%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Third Coast Bancshares, Inc.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Third Coast Bancshares, Inc. Shares have lost about 4.9% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for Third Coast Bancshares, Inc.
While Third Coast Bancshares, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Third Coast Bancshares, Inc. Unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.44 on $37.8 million in revenues for the coming quarter and $1.81 on $155.89 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, South Plains Financial (SPFI - Free Report) , has yet to report results for the quarter ended December 2023. The results are expected to be released on January 26.
This company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of -8.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
South Plains Financial's revenues are expected to be $47.25 million, down 3.6% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216193/third-coast-bancshares-inc-tcbx-q4-earnings-and-revenues-top-estimates
| 2024-01-26T00:21:31Z
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Bay Commercial Bank (BCML - Free Report) came out with quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -3.51%. A quarter ago, it was expected that this company would post earnings of $0.55 per share when it actually produced earnings of $0.56, delivering a surprise of 1.82%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Bay Commercial Bank
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Bay Commercial Bank shares have lost about 9.5% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for Bay Commercial Bank?
While Bay Commercial Bank has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Bay Commercial Bank: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $25.6 million in revenues for the coming quarter and $2.26 on $102.2 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, First Hawaiian (FHB - Free Report) , is yet to report results for the quarter ended December 2023. The results are expected to be released on January 26.
This bank holding company is expected to post quarterly earnings of $0.45 per share in its upcoming report, which represents a year-over-year change of -27.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
First Hawaiian's revenues are expected to be $201.51 million, down 8.4% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216194/bay-commercial-bank-bcml-lags-q4-earnings-estimates
| 2024-01-26T00:21:38Z
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First Business Financial Services (FBIZ - Free Report) came out with quarterly earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.18 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 0.88%. A quarter ago, it was expected that this bank holding company for First Business Bank and First Business Bank-Milwaukee would post earnings of $1.19 per share when it actually produced earnings of $1.17, delivering a surprise of -1.68%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
First Business Financial Services
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
First Business Financial Services shares have lost about 4.9% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for First Business Financial Services?
While First Business Financial Services has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for First Business Financial Services: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.21 on $39.1 million in revenues for the coming quarter and $4.69 on $158.1 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Civista Bancshares (CIVB - Free Report) , has yet to report results for the quarter ended December 2023. The results are expected to be released on February 8.
This bank holding company is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of -27.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Civista Bancshares' revenues are expected to be $38.4 million, down 9.9% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216195/first-business-financial-services-fbiz-q4-earnings-top-estimates
| 2024-01-26T00:21:44Z
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As many know, small-caps’ volatile nature can sometimes turn investors away.
However, many small-cap stocks turn out to be big winners in the long run, and they typically have less analyst coverage, providing investors an opportunity to get in "early" before the crowd.
For those seeking exposure to small-caps, three stocks – GigaCloud Technology (GCT - Free Report) , Hibbett (HIBB - Free Report) , and Carrols Restaurant Group (TAST - Free Report) – could all be considered.
All three sport a favorable Zacks Rank, indicating optimism among analysts. Let’s take a closer look at each.
Carrols Restaurant Group
Carrols Restaurant Group is one of the largest restaurant franchisees in the United States, presently operating over 1,000 Burger King and 62 Popeyes restaurants in six states.
Analysts have become notably bullish for its current fiscal year, with the $0.49 Zacks Consensus EPS Estimate well above the -$0.40 per share loss expected last January. The stock currently sports the highly-coveted Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
The company’s shares saw bullish activity following its latest quarterly print. Concerning the headline figures within the release, Carrols exceeded the Zacks Consensus EPS Estimate by nearly 130% and posted revenue a hair below expectations.
Image Source: Zacks Investment Research
TAST’s growth trajectory can’t be ignored, with consensus expectations alluding to 170% earnings growth on nearly 9% higher sales. Shares are fairly priced given the company’s forecasted growth, with the current 0.3X forward price-to-sales ratio marginally above the five-year median.
GigaCloud Technology
GigaCloud Technology Inc. is a pioneer of global end-to-end B2B e-commerce solutions for large parcel merchandise. Analysts have taken their earnings expectations higher across the board, landing the stock into a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
Like TAST, GCT’s growth trajectory remains bright, with consensus estimates for its current fiscal year (FY23) suggesting 200% earnings growth on nearly 40% higher sales. Peeking a bit ahead, consensus FY24 expectations indicate an 11% earnings boost paired with a 48% revenue bump.
The company’s revenue has shot higher as of late.
Image Source: Zacks Investment Research
Hibbett
Hibbett has evolved its offerings from sports goods to an athletic-inspired fashion-focused assortment. The stock is currently a Zacks Rank #2 (Buy), with earnings expectations inching higher across multiple timeframes.
Investors can also reap a steady income stream, with HIBB shares currently yielding a respectable 1.5% annually paired with a sustainable payout ratio sitting at 12% of its earnings.
Image Source: Zacks Investment Research
The company’s latest quarterly results caused shares to see bullish activity, with Hibbett enjoying a strong back-to-school shopping season and continued strength among footwear. Concerning headline figures, HIBB exceeded the Zacks Consensus EPS Estimate by more than 80% and posted a 4% revenue beat.
Image Source: Zacks Investment Research
Bottom Line
For those seeking exposure to small-caps, all three stocks above – GigaCloud Technology (GCT - Free Report) , Hibbett (HIBB - Free Report) , and Carrols Restaurant Group (TAST - Free Report) – deserve a watchlist spot.
All three have witnessed positive earnings estimate revisions among analysts, indicating near-term optimism.
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https://www.zacks.com/stock/news/2216198/relative-strength-3-buy-rated-small-caps-worth-a-look
| 2024-01-26T00:21:50Z
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TJX (TJX - Free Report) ended the recent trading session at $95.51, demonstrating a +0.59% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
Heading into today, shares of the parent of T.J. Maxx, Marshalls and other stores had gained 2.35% over the past month, outpacing the Retail-Wholesale sector's gain of 0.63% and lagging the S&P 500's gain of 2.48% in that time.
The upcoming earnings release of TJX will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.11, reflecting a 24.72% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $16.14 billion, indicating a 11.15% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.75 per share and revenue of $53.95 billion. These totals would mark changes of +20.58% and +8.03%, respectively, from last year.
Any recent changes to analyst estimates for TJX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.01% rise in the Zacks Consensus EPS estimate. At present, TJX boasts a Zacks Rank of #2 (Buy).
In terms of valuation, TJX is currently trading at a Forward P/E ratio of 25.31. Its industry sports an average Forward P/E of 23.53, so one might conclude that TJX is trading at a premium comparatively.
Meanwhile, TJX's PEG ratio is currently 2.25. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Discount Stores industry currently had an average PEG ratio of 2.25 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 61, this industry ranks in the top 25% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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https://www.zacks.com/stock/news/2216199/tjx-tjx-rises-higher-than-market-key-facts
| 2024-01-26T00:21:56Z
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Cheniere Energy (LNG - Free Report) closed the latest trading day at $164.24, indicating a -0.66% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.53%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
The the stock of natural gas company has fallen by 3.52% in the past month, leading the Oils-Energy sector's loss of 4.39% and undershooting the S&P 500's gain of 2.48%.
The investment community will be closely monitoring the performance of Cheniere Energy in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.70, reflecting an 82.89% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.5 billion, down 50.5% from the prior-year quarter.
Any recent changes to analyst estimates for Cheniere Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.49% downward. Cheniere Energy presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cheniere Energy has a Forward P/E ratio of 16.47 right now. This denotes a premium relative to the industry's average Forward P/E of 7.87.
It is also worth noting that LNG currently has a PEG ratio of 0.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.66 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 247, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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https://www.zacks.com/stock/news/2216200/cheniere-energy-lng-stock-declines-while-market-improves-some-information-for-investors
| 2024-01-26T00:22:03Z
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In the latest trading session, Crescent Capital BDC (CCAP - Free Report) closed at $16.65, marking a +1.46% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
The company's shares have seen a decrease of 8.58% over the last month, not keeping up with the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of Crescent Capital BDC in its upcoming earnings disclosure. The company's earnings report is set to go public on February 21, 2024. The company is expected to report EPS of $0.57, up 16.33% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $47.99 million, reflecting a 38.77% rise from the equivalent quarter last year.
Any recent changes to analyst estimates for Crescent Capital BDC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Crescent Capital BDC currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Crescent Capital BDC is currently trading at a Forward P/E ratio of 7.5. This indicates a discount in contrast to its industry's Forward P/E of 7.71.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 176, positioning it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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https://www.zacks.com/stock/news/2216201/crescent-capital-bdc-ccap-outpaces-stock-market-gains-what-you-should-know
| 2024-01-26T00:22:09Z
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In the latest trading session, PPL (PPL - Free Report) closed at $25.83, marking a +1.53% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
The energy and utility holding company's shares have seen a decrease of 5.92% over the last month, surpassing the Utilities sector's loss of 7.77% and falling behind the S&P 500's gain of 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of PPL in its upcoming earnings disclosure. The company is expected to report EPS of $0.38, up 35.71% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $2.08 billion, reflecting a 9.04% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for PPL should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.03% fall in the Zacks Consensus EPS estimate. PPL currently has a Zacks Rank of #4 (Sell).
In terms of valuation, PPL is currently trading at a Forward P/E ratio of 14.83. This indicates a premium in contrast to its industry's Forward P/E of 14.15.
It is also worth noting that PPL currently has a PEG ratio of 2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.5 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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https://www.zacks.com/stock/news/2216202/ppl-ppl-outpaces-stock-market-gains-what-you-should-know
| 2024-01-26T00:22:16Z
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The latest trading session saw QuantumScape Corporation (QS - Free Report) ending at $6.65, denoting no adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
Shares of the company witnessed a loss of 8.53% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 7.52% and the S&P 500's gain of 2.48%.
The investment community will be closely monitoring the performance of QuantumScape Corporation in its forthcoming earnings report. The company is expected to report EPS of -$0.23, up 8% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for QuantumScape Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, QuantumScape Corporation boasts a Zacks Rank of #4 (Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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https://www.zacks.com/stock/news/2216203/quantumscape-corporation-qs-flat-as-market-gains-what-you-should-know
| 2024-01-26T00:22:22Z
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HubSpot (HUBS - Free Report) closed the latest trading day at $585.73, indicating a +0.01% change from the previous session's end. This change lagged the S&P 500's 0.53% gain on the day. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
Heading into today, shares of the cloud-based marketing and sales software platform had gained 0.06% over the past month, lagging the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 2.48% in that time.
Analysts and investors alike will be keeping a close eye on the performance of HubSpot in its upcoming earnings disclosure. In that report, analysts expect HubSpot to post earnings of $1.53 per share. This would mark year-over-year growth of 37.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $557.48 million, up 18.7% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for HubSpot. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 10.93% lower. Right now, HubSpot possesses a Zacks Rank of #3 (Hold).
Digging into valuation, HubSpot currently has a Forward P/E ratio of 90.61. This expresses a premium compared to the average Forward P/E of 34.62 of its industry.
It's also important to note that HUBS currently trades at a PEG ratio of 2.96. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Internet - Software industry stood at 1.78 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 59, this industry ranks in the top 24% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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https://www.zacks.com/stock/news/2216204/heres-why-hubspot-hubs-gained-but-lagged-the-market-today
| 2024-01-26T00:22:28Z
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The most recent trading session ended with Coterra Energy (CTRA - Free Report) standing at $25.26, reflecting a +0.96% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.53% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
Shares of the independent oil and gas company have depreciated by 3.14% over the course of the past month, outperforming the Oils-Energy sector's loss of 4.39% and lagging the S&P 500's gain of 2.48%.
The investment community will be paying close attention to the earnings performance of Coterra Energy in its upcoming release. In that report, analysts expect Coterra Energy to post earnings of $0.56 per share. This would mark a year-over-year decline of 51.72%. Alongside, our most recent consensus estimate is anticipating revenue of $1.54 billion, indicating a 32.26% downward movement from the same quarter last year.
Any recent changes to analyst estimates for Coterra Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 15.62% decrease. Coterra Energy presently features a Zacks Rank of #5 (Strong Sell).
Investors should also note Coterra Energy's current valuation metrics, including its Forward P/E ratio of 10.79. This signifies a premium in comparison to the average Forward P/E of 7.87 for its industry.
We can also see that CTRA currently has a PEG ratio of 0.2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CTRA's industry had an average PEG ratio of 0.66 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 247, placing it within the bottom 2% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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https://www.zacks.com/stock/news/2216205/coterra-energy-ctra-laps-the-stock-market-heres-why
| 2024-01-26T00:22:34Z
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Monday.com (MNDY - Free Report) closed the most recent trading day at $208, moving -0.82% from the previous trading session. This move lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Coming into today, shares of the project management software developer had gained 10.67% in the past month. In that same time, the Computer and Technology sector gained 5.21%, while the S&P 500 gained 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of Monday.com in its upcoming earnings disclosure. The company's earnings report is set to go public on February 12, 2024. The company is forecasted to report an EPS of $0.30, showcasing a 31.82% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $198.29 million, indicating a 32.27% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Monday.com. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Monday.com is currently a Zacks Rank #1 (Strong Buy).
Looking at valuation, Monday.com is presently trading at a Forward P/E ratio of 121.32. This represents a premium compared to its industry's average Forward P/E of 34.62.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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https://www.zacks.com/stock/news/2216206/mondaycom-mndy-stock-sinks-as-market-gains-heres-why
| 2024-01-26T00:22:40Z
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CRISPR Therapeutics AG (CRSP - Free Report) ended the recent trading session at $62.87, demonstrating a -0.22% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the company had lost 3% over the past month. This has lagged the Medical sector's gain of 1.36% and the S&P 500's gain of 2.48% in that time.
The investment community will be paying close attention to the earnings performance of CRISPR Therapeutics AG in its upcoming release. The company's upcoming EPS is projected at -$0.21, signifying an 85.11% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $144.28 million, indicating a 1442670% growth compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for CRISPR Therapeutics AG. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 7.78% fall in the Zacks Consensus EPS estimate. At present, CRISPR Therapeutics AG boasts a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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https://www.zacks.com/stock/news/2216207/crispr-therapeutics-ag-crsp-stock-sinks-as-market-gains-what-you-should-know
| 2024-01-26T00:22:47Z
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Nextdoor Holdings, Inc. (KIND - Free Report) closed the most recent trading day at $1.55, moving -1.9% from the previous trading session. This change lagged the S&P 500's 0.53% gain on the day. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.19%.
Shares of the company witnessed a loss of 19.8% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.21% and the S&P 500's gain of 2.48%.
The investment community will be closely monitoring the performance of Nextdoor Holdings, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.11, indicating a 22.22% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $51.46 million, showing a 3.41% drop compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nextdoor Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Nextdoor Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KIND in the coming trading sessions, be sure to utilize Zacks.com.
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https://www.zacks.com/stock/news/2216208/nextdoor-holdings-inc-kind-stock-sinks-as-market-gains-what-you-should-know
| 2024-01-26T00:22:53Z
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DigitalOcean Holdings, Inc. (DOCN - Free Report) closed at $33.14 in the latest trading session, marking a +1.5% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.53%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
Prior to today's trading, shares of the company had lost 14.42% over the past month. This has lagged the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 2.48% in that time.
The upcoming earnings release of DigitalOcean Holdings, Inc. will be of great interest to investors. The company's earnings report is expected on February 21, 2024. The company is predicted to post an EPS of $0.37, indicating a 32.14% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $178.25 million, indicating a 9.36% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for DigitalOcean Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.48% lower. DigitalOcean Holdings, Inc. is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that DigitalOcean Holdings, Inc. has a Forward P/E ratio of 20.91 right now. This valuation marks a discount compared to its industry's average Forward P/E of 34.62.
It's also important to note that DOCN currently trades at a PEG ratio of 0.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.78 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 59, this industry ranks in the top 24% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DOCN in the coming trading sessions, be sure to utilize Zacks.com.
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https://www.zacks.com/stock/news/2216209/digitalocean-holdings-inc-docn-beats-stock-market-upswing-what-investors-need-to-know
| 2024-01-26T00:22:59Z
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The most recent trading session ended with Maxeon Solar Technologies, Ltd. (MAXN - Free Report) standing at $4.88, reflecting a -1.41% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.53%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
Coming into today, shares of the company had lost 32.47% in the past month. In that same time, the Oils-Energy sector lost 4.39%, while the S&P 500 gained 2.48%.
The upcoming earnings release of Maxeon Solar Technologies, Ltd. will be of great interest to investors. It is anticipated that the company will report an EPS of -$2.06, marking a 11.96% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $241.83 million, reflecting a 25.25% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Maxeon Solar Technologies, Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Maxeon Solar Technologies, Ltd. is holding a Zacks Rank of #5 (Strong Sell) right now.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 219, placing it within the bottom 14% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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https://www.zacks.com/stock/news/2216210/maxeon-solar-technologies-ltd-maxn-stock-sinks-as-market-gains-heres-why
| 2024-01-26T00:23:05Z
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Paysafe Limited (PSFE - Free Report) ended the recent trading session at $15.04, demonstrating a +0.33% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
The the stock of company has risen by 16.11% in the past month, leading the Business Services sector's gain of 0.84% and the S&P 500's gain of 2.48%.
Market participants will be closely following the financial results of Paysafe Limited in its upcoming release. The company's upcoming EPS is projected at $0.60, signifying a 11.11% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $415.6 million, up 8.35% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Paysafe Limited. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Paysafe Limited presently features a Zacks Rank of #3 (Hold).
Investors should also note Paysafe Limited's current valuation metrics, including its Forward P/E ratio of 6.18. For comparison, its industry has an average Forward P/E of 12.93, which means Paysafe Limited is trading at a discount to the group.
We can additionally observe that PSFE currently boasts a PEG ratio of 0.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Financial Transaction Services industry held an average PEG ratio of 1.13.
The Financial Transaction Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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https://www.zacks.com/stock/news/2216211/paysafe-limited-psfe-rises-yet-lags-behind-market-some-facts-worth-knowing
| 2024-01-26T00:23:11Z
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Monster Beverage (MNST - Free Report) closed the latest trading day at $55.14, indicating a +0.13% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.53%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
Prior to today's trading, shares of the energy drink maker had lost 3.96% over the past month. This has lagged the Consumer Staples sector's gain of 3.27% and the S&P 500's gain of 2.48% in that time.
The investment community will be paying close attention to the earnings performance of Monster Beverage in its upcoming release. The company is expected to report EPS of $0.39, up 34.48% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.75 billion, indicating a 15.4% growth compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Monster Beverage. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% downward. Monster Beverage is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Monster Beverage is holding a Forward P/E ratio of 30.58. This denotes a premium relative to the industry's average Forward P/E of 18.37.
Meanwhile, MNST's PEG ratio is currently 1.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Beverages - Soft drinks stocks are, on average, holding a PEG ratio of 2.2 based on yesterday's closing prices.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 68, finds itself in the top 27% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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https://www.zacks.com/stock/news/2216212/heres-why-monster-beverage-mnst-gained-but-lagged-the-market-today
| 2024-01-26T00:23:18Z
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Patterson Cos. (PDCO - Free Report) closed the latest trading day at $30.34, indicating a +1.71% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
The the stock of medical supplies maker has risen by 4.56% in the past month, leading the Medical sector's gain of 1.36% and the S&P 500's gain of 2.48%.
The investment community will be paying close attention to the earnings performance of Patterson Cos. in its upcoming release. On that day, Patterson Cos. is projected to report earnings of $0.60 per share, which would represent a year-over-year decline of 3.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.63 billion, up 2% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.38 per share and a revenue of $6.62 billion, signifying shifts of -1.65% and +2.31%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Patterson Cos. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% lower. Patterson Cos. presently features a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Patterson Cos. is currently exchanging hands at a Forward P/E ratio of 12.55. Its industry sports an average Forward P/E of 19.46, so one might conclude that Patterson Cos. is trading at a discount comparatively.
We can additionally observe that PDCO currently boasts a PEG ratio of 1.5. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Dental Supplies industry stood at 1.88 at the close of the market yesterday.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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https://www.zacks.com/stock/news/2216213/patterson-cos-pdco-laps-the-stock-market-heres-why
| 2024-01-26T00:23:24Z
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Adeia (ADEA - Free Report) closed the most recent trading day at $12.13, moving -0.41% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
Coming into today, shares of the provider of chip technology for small electronic devices had lost 2.87% in the past month. In that same time, the Business Services sector gained 0.84%, while the S&P 500 gained 2.48%.
The upcoming earnings release of Adeia will be of great interest to investors. In that report, analysts expect Adeia to post earnings of $0.26 per share. This would mark a year-over-year decline of 36.59%. Alongside, our most recent consensus estimate is anticipating revenue of $89.23 million, indicating a 13.61% downward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Adeia. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Adeia boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Adeia is presently trading at a Forward P/E ratio of 8.58. This denotes a discount relative to the industry's average Forward P/E of 24.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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https://www.zacks.com/stock/news/2216214/adeia-adea-stock-declines-while-market-improves-some-information-for-investors
| 2024-01-26T00:23:30Z
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Main Street Capital (MAIN - Free Report) closed the most recent trading day at $45.58, moving +0.4% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
Coming into today, shares of the investment firm had gained 4.56% in the past month. In that same time, the Finance sector lost 2.41%, while the S&P 500 gained 2.48%.
The upcoming earnings release of Main Street Capital will be of great interest to investors. The company's earnings report is expected on February 22, 2024. In that report, analysts expect Main Street Capital to post earnings of $1.01 per share. This would mark year-over-year growth of 3.06%. Alongside, our most recent consensus estimate is anticipating revenue of $125.52 million, indicating a 10.22% upward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Main Street Capital. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.64% decrease. At present, Main Street Capital boasts a Zacks Rank of #4 (Sell).
Looking at valuation, Main Street Capital is presently trading at a Forward P/E ratio of 11.69. This denotes a premium relative to the industry's average Forward P/E of 7.71.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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https://www.zacks.com/stock/news/2216215/main-street-capital-main-rises-but-trails-market-what-investors-should-know
| 2024-01-26T00:23:37Z
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Innovative Industrial Properties (IIPR - Free Report) closed the most recent trading day at $93.64, moving +0.2% from the previous trading session. This move lagged the S&P 500's daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
Shares of the company have depreciated by 9.91% over the course of the past month, underperforming the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48%.
The investment community will be paying close attention to the earnings performance of Innovative Industrial Properties in its upcoming release. It is anticipated that the company will report an EPS of $2.27, marking a 7.08% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $77.25 million, indicating a 9.64% upward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Innovative Industrial Properties. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Innovative Industrial Properties possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Innovative Industrial Properties is presently trading at a Forward P/E ratio of 10.2. This expresses a discount compared to the average Forward P/E of 11.22 of its industry.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 149, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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https://www.zacks.com/stock/news/2216216/innovative-industrial-properties-iipr-advances-but-underperforms-market-key-facts
| 2024-01-26T00:23:43Z
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The most recent trading session ended with Archer Aviation Inc. (ACHR - Free Report) standing at $4.98, reflecting a -0.6% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
The company's shares have seen a decrease of 21.23% over the last month, not keeping up with the Aerospace sector's loss of 2.99% and the S&P 500's gain of 2.48%.
Market participants will be closely following the financial results of Archer Aviation Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.27, signifying a 3.57% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Archer Aviation Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Archer Aviation Inc. holds a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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https://www.zacks.com/stock/news/2216217/archer-aviation-inc-achr-stock-declines-while-market-improves-some-information-for-investors
| 2024-01-26T00:23:49Z
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The most recent trading session ended with Generac Holdings (GNRC - Free Report) standing at $114.64, reflecting a +1.3% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.53% gain on the day. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
The generator maker's stock has dropped by 13.14% in the past month, falling short of the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 2.48%.
Market participants will be closely following the financial results of Generac Holdings in its upcoming release. It is anticipated that the company will report an EPS of $2.10, marking a 17.98% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.1 billion, indicating a 4.56% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Generac Holdings. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% downward. Generac Holdings presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Generac Holdings has a Forward P/E ratio of 15.41 right now. This indicates a premium in contrast to its industry's Forward P/E of 13.38.
We can additionally observe that GNRC currently boasts a PEG ratio of 1.54. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Electronics - Power Generation industry was having an average PEG ratio of 4.78.
The Electronics - Power Generation industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GNRC in the coming trading sessions, be sure to utilize Zacks.com.
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https://www.zacks.com/stock/news/2216218/generac-holdings-gnrc-rises-higher-than-market-key-facts
| 2024-01-26T00:23:55Z
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The First of Long Island (FLIC - Free Report) came out with quarterly earnings of $0.27 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this holding company for The First National Bank of Long Island would post earnings of $0.23 per share when it actually produced earnings of $0.30, delivering a surprise of 30.43%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
The First of Long Island
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
The First of Long Island shares have lost about 3.3% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for The First of Long Island?
While The First of Long Island has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for The First of Long Island: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.24 on $23.2 million in revenues for the coming quarter and $1.15 on $95.5 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Highwoods Properties (HIW - Free Report) , another stock in the broader Zacks Finance sector, has yet to report results for the quarter ended December 2023. The results are expected to be released on February 6.
This real estate investment trust is expected to post quarterly earnings of $0.91 per share in its upcoming report, which represents a year-over-year change of -5.2%. The consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level.
Highwoods Properties' revenues are expected to be $207.03 million, down 2.2% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216219/the-first-of-long-island-flic-matches-q4-earnings-estimates
| 2024-01-26T00:24:01Z
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First Western (MYFW - Free Report) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -90.91%. A quarter ago, it was expected that this company would post earnings of $0.44 per share when it actually produced earnings of $0.32, delivering a surprise of -27.27%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
First Western
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
First Western shares have lost about 7.5% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for First Western?
While First Western has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for First Western: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.24 on $22.8 million in revenues for the coming quarter and $1.48 on $98.5 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Finance sector, Palomar (PLMR - Free Report) , has yet to report results for the quarter ended December 2023.
This insurance holding company is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of +17.1%. The consensus EPS estimate for the quarter has been revised 2% lower over the last 30 days to the current level.
Palomar's revenues are expected to be $95.07 million, up 8.3% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216220/first-western-myfw-lags-q4-earnings-and-revenue-estimates
| 2024-01-26T00:24:08Z
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For the quarter ended December 2023, Associated Banc-Corp (ASB - Free Report) reported revenue of $322.22 million, down 9.4% over the same period last year. EPS came in at $0.53, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of -1.13% over the Zacks Consensus Estimate of $325.89 million. With the consensus EPS estimate being $0.52, the EPS surprise was +1.92%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Associated Banc-Corp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 2.7% compared to the 2.7% average estimate based on four analysts.
- Average Balance - Total earning assets: 38,273.93 million versus 38,434.22 million estimated by four analysts on average.
- Net Charge-off (% of Average Loans): 0.2% versus 0.2% estimated by three analysts on average.
- Total nonperforming assets: $160.42 million versus the two-analyst average estimate of $184.44 million.
- Net Interest Income (FTE): $258.03 million compared to the $263.33 million average estimate based on four analysts.
- Wealth management fees: $21 million versus $20.60 million estimated by four analysts on average.
- Capital markets, net: $9.11 million compared to the $5.50 million average estimate based on four analysts.
- Total Noninterest Income: -$131.01 million compared to the $63.77 million average estimate based on four analysts.
- Mortgage banking, net: $1.62 million versus $4.88 million estimated by four analysts on average.
- Card-based fees: $11.53 million versus $11.47 million estimated by four analysts on average.
- Bank and corporate owned life insurance: $3.38 million versus $2.32 million estimated by four analysts on average.
- Service charges and deposit accounts fees: $10.82 million versus the four-analyst average estimate of $12.64 million.
Shares of Associated Banc-Corp have returned +0.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216222/associated-banc-corp-asb-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:24:14Z
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AppFolio (APPF - Free Report) reported $171.83 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 38.5%. EPS of $0.88 for the same period compares to -$0.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $162.8 million, representing a surprise of +5.55%. The company delivered an EPS surprise of +23.94%, with the consensus EPS estimate being $0.71.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how AppFolio performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Core solutions: $41.25 million versus the two-analyst average estimate of $41.17 million. The reported number represents a year-over-year change of +16.6%.
- Revenues- Other: $2.59 million compared to the $2.25 million average estimate based on two analysts. The reported number represents a change of +8.2% year over year.
- Revenues- Value Added Services: $127.99 million versus $119.08 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +48.3% change.
Shares of AppFolio have returned +1.3% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216223/appfolio-appf-q4-earnings-how-key-metrics-compare-to-wall-street-estimates
| 2024-01-26T00:24:20Z
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Levi Strauss (LEVI - Free Report) reported $1.64 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 3.4%. EPS of $0.44 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of -1.18% over the Zacks Consensus Estimate of $1.66 billion. With the consensus EPS estimate being $0.42, the EPS surprise was +4.76%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Levi Strauss performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenues- Americas: $888.30 million compared to the $868.81 million average estimate based on four analysts. The reported number represents a change of +5.7% year over year.
- Geographic Revenues- Europe: $379 million compared to the $377.56 million average estimate based on four analysts. The reported number represents a change of +2.3% year over year.
- Geographic Revenues- Other Brands: $113 million versus $134.31 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -10.9% change.
- Geographic Revenues- Asia: $262 million versus $281.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
Shares of Levi Strauss have returned -7.3% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216224/levi-strauss-levi-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:24:27Z
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Capital One (COF - Free Report) reported $9.51 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 5.2%. EPS of $2.24 for the same period compares to $2.82 a year ago.
The reported revenue represents a surprise of +0.56% over the Zacks Consensus Estimate of $9.45 billion. With the consensus EPS estimate being $2.50, the EPS surprise was -10.40%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Capital One performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Balance - Total interest-earning assets: $446.93 billion compared to the $448.46 billion average estimate based on 14 analysts.
- Net Interest Margin: 6.7% compared to the 6.7% average estimate based on 14 analysts.
- Efficiency Ratio: 55.2% versus 55.3% estimated by 14 analysts on average.
- Net charge-off rate: 3.2% versus 3% estimated by 13 analysts on average.
- Tier 1 Capital Ratio: 14.2% versus the 10-analyst average estimate of 14.5%.
- Net charge-off rate - Credit Card - Domestic credit card: 5.4% compared to the 5% average estimate based on nine analysts.
- Net charge-off rate - Credit Card - International card businesses: 4.9% compared to the 5% average estimate based on nine analysts.
- Total net revenue- Credit Card: $6.80 billion compared to the $6.73 billion average estimate based on six analysts. The reported number represents a change of +13.6% year over year.
- Total net revenue- Consumer Banking: $2.11 billion versus $2.35 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -16.5% change.
- Total net revenue- Credit Card- Domestic: $6.44 billion compared to the $6.36 billion average estimate based on six analysts. The reported number represents a change of +13.5% year over year.
- Total net revenue- Other: -$266 million versus -$501.92 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
- Total net revenue- Commercial Banking: $862 million compared to the $914.36 million average estimate based on six analysts. The reported number represents a change of +10.4% year over year.
Shares of Capital One have returned -0.1% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216225/capital-one-cof-reports-q4-earnings-what-key-metrics-have-to-say
| 2024-01-26T00:24:33Z
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For the quarter ended December 2023, Olin (OLN - Free Report) reported revenue of $1.61 billion, down 18.3% over the same period last year. EPS came in at $0.30, compared to $1.43 in the year-ago quarter.
The reported revenue represents a surprise of +7.70% over the Zacks Consensus Estimate of $1.5 billion. With the consensus EPS estimate being $0.20, the EPS surprise was +50.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Olin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Chlor Alkali Products and Vinyls: $906.10 million versus $842.83 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -22.7% change.
- Sales- Winchester: $395.40 million compared to the $357.03 million average estimate based on six analysts. The reported number represents a change of +23.6% year over year.
- Sales- Epoxy: $313.10 million versus $323.03 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -35.3% change.
- Income before Taxes- Chlor Alkali Products and Vinyls: $65.90 million compared to the $86.76 million average estimate based on six analysts.
- Income before Taxes- Winchester: $65.40 million versus the five-analyst average estimate of $61.94 million.
- Income before Taxes- Epoxy: -$23.10 million versus the five-analyst average estimate of -$26.76 million.
- Other corporate and unallocated costs: -$26.70 million versus -$26.20 million estimated by five analysts on average.
Shares of Olin have returned -7.7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216227/olin-oln-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:24:39Z
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Arthur J. Gallagher (AJG - Free Report) reported $2.39 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 19.9%. EPS of $1.85 for the same period compares to $1.54 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.37 billion, representing a surprise of +1.10%. The company delivered an EPS surprise of +1.09%, with the consensus EPS estimate being $1.83.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Arthur J. Gallagher performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Brokerage - Compensation expense ratio: 57.4% compared to the 56.1% average estimate based on three analysts.
- Risk Management Segment - Operating expense ratio: 18.4% versus the three-analyst average estimate of 19.1%.
- Risk Management Segment - Compensation expense ratio: 61% versus 55.3% estimated by three analysts on average.
- Brokerage - Operating expense ratio: 16.3% versus 15.7% estimated by three analysts on average.
- Revenue- Commissions: $1.33 billion versus $1.37 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +15% change.
- Revenue- Fees: $802.40 million versus $771.27 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +22.6% change.
- Revenue Risk Management Segment- Revenues before reimbursements: $340.40 million versus the four-analyst average estimate of $336.69 million. The reported number represents a year-over-year change of +17.1%.
- Revenue Risk Management Segment- Fees: $331.60 million compared to the $332.41 million average estimate based on three analysts. The reported number represents a change of +14.7% year over year.
- Revenue Brokerage Segment- Contingent revenues: $55.40 million versus $49.38 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +37.8% change.
- Revenue Brokerage Segment- Supplemental revenues: $90.60 million versus the three-analyst average estimate of $83.39 million. The reported number represents a year-over-year change of +13.3%.
- Total revenue- Brokerage: $2.05 billion versus $2.01 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +20.4% change.
- Revenue Risk Management Segment- Reimbursements: $38.80 million versus $35.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.2% change.
Shares of Arthur J. Gallagher have returned +7.2% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216228/arthur-j-gallagher-ajg-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:24:45Z
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The Bancorp (TBBK - Free Report) reported $119.15 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 16.2%. EPS of $0.95 for the same period compares to $0.71 a year ago.
The reported revenue represents a surprise of +0.53% over the Zacks Consensus Estimate of $118.52 million. With the consensus EPS estimate being $0.95, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how The Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 38% compared to the 39.8% average estimate based on two analysts.
- Average Interest-Earning Assets: $7.02 billion compared to the $7.14 billion average estimate based on two analysts.
- Net Interest Margin: 5.3% compared to the 5.1% average estimate based on two analysts.
- Total Non Interest Income: $26.99 million compared to the $27.89 million average estimate based on two analysts.
- Net Interest Income: $92.16 million versus the two-analyst average estimate of $90.63 million.
Shares of The Bancorp have returned +3.4% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216229/the-bancorp-tbbk-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:24:51Z
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For the quarter ended December 2023, Federated Hermes (FHI - Free Report) reported revenue of $200.76 million, down 46.3% over the same period last year. EPS came in at $0.62, compared to $0.90 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $396.36 million, representing a surprise of -49.35%. The company delivered an EPS surprise of -26.19%, with the consensus EPS estimate being $0.84.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Federated Hermes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Managed Assets - Separate Accounts - Money market: $153.83 billion versus the two-analyst average estimate of $144.89 billion.
- Managed Assets - Asset Class - Total Managed Assets: $757.62 million versus the two-analyst average estimate of $719.88 million.
- Managed Assets - Asset Class - Equity: $79.29 billion compared to the $80.98 billion average estimate based on two analysts.
- Managed Assets - Asset Class - Fixed-income: $94.92 billion versus $91.48 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Alternative / private markets: $20.55 billion compared to the $20.76 billion average estimate based on two analysts.
- Managed Assets - Asset Class - Multi-asset: $2.87 billion versus the two-analyst average estimate of $2.77 billion.
- Managed Assets - Separate Accounts - Multi-asset: $137 million versus $181.24 million estimated by two analysts on average.
- Managed Assets - Asset Class - Money market: $559.99 billion compared to the $523.88 billion average estimate based on two analysts.
- Managed Assets - Product Type - Alternative / private markets: $12.38 billion versus the two-analyst average estimate of $12.69 billion.
- Revenue- Investment advisory fees, net: $264.69 million compared to the $273.52 million average estimate based on two analysts. The reported number represents a change of +3% year over year.
- Revenue- Other service fees, net: $35.87 million compared to the $39.17 million average estimate based on two analysts. The reported number represents a change of -12.7% year over year.
- Revenue- Administrative service fees, net: $90.93 million versus $84.57 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.9% change.
Shares of Federated Hermes have returned +1% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216230/federated-hermes-fhi-q4-earnings-how-key-metrics-compare-to-wall-street-estimates
| 2024-01-26T00:24:57Z
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Eastern Bankshares, Inc. (EBC - Free Report) reported $160.05 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 17.7%. EPS of $0.10 for the same period compares to $0.31 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $153.53 million, representing a surprise of +4.24%. The company delivered an EPS surprise of -52.38%, with the consensus EPS estimate being $0.21.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Eastern Bankshares, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 2.7% versus 2.6% estimated by three analysts on average.
- Efficiency ratio (Gaap): 75.6% compared to the 65.9% average estimate based on two analysts.
- Total Noninterest Income: $26.74 million versus the two-analyst average estimate of $23.44 million.
- Net Interest Income: $133.31 million versus the two-analyst average estimate of $130.27 million.
Shares of Eastern Bankshares, Inc. have returned -4.4% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216231/compared-to-estimates-eastern-bankshares-inc-ebc-q4-earnings-a-look-at-key-metrics
| 2024-01-26T00:25:07Z
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For the quarter ended December 2023, First Financial Bancorp (FFBC - Free Report) reported revenue of $202.43 million, down 6.1% over the same period last year. EPS came in at $0.62, compared to $0.73 in the year-ago quarter.
The reported revenue represents a surprise of -2.65% over the Zacks Consensus Estimate of $207.95 million. With the consensus EPS estimate being $0.61, the EPS surprise was +1.64%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how First Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 4.2% compared to the 4.2% average estimate based on two analysts.
- Efficiency Ratio: 59.3% compared to the 58.4% average estimate based on two analysts.
- Total Noninterest Income: $46.99 million compared to the $55.80 million average estimate based on two analysts.
Shares of First Financial have returned -3.4% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216232/heres-what-key-metrics-tell-us-about-first-financial-ffbc-q4-earnings
| 2024-01-26T00:25:13Z
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For the quarter ended December 2023, Ameris Bancorp (ABCB - Free Report) reported revenue of $262.35 million, down 3.7% over the same period last year. EPS came in at $1.07, compared to $1.17 in the year-ago quarter.
The reported revenue represents a surprise of -1.83% over the Zacks Consensus Estimate of $267.23 million. With the consensus EPS estimate being $1.12, the EPS surprise was -4.46%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Ameris Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency ratio: 56.8% compared to the 53.5% average estimate based on four analysts.
- Net Interest Margin: 3.5% compared to the 3.5% average estimate based on four analysts.
- Net charge-offs to average loans: 0.3% compared to the 0.2% average estimate based on three analysts.
- Average Balances-Interest earning assets: $23.23 billion compared to the $23.63 billion average estimate based on two analysts.
- Net Interest Income(FTE): $207.05 million versus $207.78 million estimated by four analysts on average.
- Total Non-Interest Income: $56.25 million compared to the $60.16 million average estimate based on four analysts.
- Net Interest Income: $206.10 million versus the two-analyst average estimate of $207.50 million.
Shares of Ameris Bancorp have returned -1.2% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216233/compared-to-estimates-ameris-bancorp-abcb-q4-earnings-a-look-at-key-metrics
| 2024-01-26T00:25:19Z
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Byline Bancorp (BY - Free Report) reported $100.79 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 14.5%. EPS of $0.73 for the same period compares to $0.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $101.07 million, representing a surprise of -0.28%. The company delivered an EPS surprise of +8.96%, with the consensus EPS estimate being $0.67.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Byline Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 51.6% compared to the 52.8% average estimate based on three analysts.
- Net Interest Margin: 4.1% versus 4.1% estimated by three analysts on average.
- Net charge-offs of loans and leases: 0.7% versus the two-analyst average estimate of 0.4%.
- Average Balance - Total interest-earning assets: $8.39 billion compared to the $8.35 billion average estimate based on two analysts.
- Total Non-Interest Income: $14.50 million versus the three-analyst average estimate of $14.09 million.
- Net gains on sales of loans: $5.48 million versus the three-analyst average estimate of $5.53 million.
- Net Interest Income: $86.29 million compared to the $87 million average estimate based on three analysts.
- Other non-interest income: $1.22 million versus the two-analyst average estimate of $1.91 million.
- Fees and service charges on deposits: $2.49 million compared to the $2.41 million average estimate based on two analysts.
- Wealth management and trust income: $1.26 million compared to the $1.02 million average estimate based on two analysts.
- ATM and interchange fees: $1.08 million compared to the $1.20 million average estimate based on two analysts.
Shares of Byline Bancorp have returned -2.9% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216234/compared-to-estimates-byline-bancorp-by-q4-earnings-a-look-at-key-metrics
| 2024-01-26T00:25:25Z
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For the quarter ended December 2023, Provident Financial (PFS - Free Report) reported revenue of $114.76 million, down 13.3% over the same period last year. EPS came in at $0.36, compared to $0.66 in the year-ago quarter.
The reported revenue represents a surprise of +1.92% over the Zacks Consensus Estimate of $112.6 million. With the consensus EPS estimate being $0.40, the EPS surprise was -10.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Provident Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 2.9% compared to the 2.9% average estimate based on two analysts.
- Efficiency Ratio: 61.3% versus 57.6% estimated by two analysts on average.
- Total Non-Interest Income: $18.97 million versus the two-analyst average estimate of $18.82 million.
- Net Interest Income: $95.79 million versus the two-analyst average estimate of $93.82 million.
Shares of Provident Financial have returned -5.4% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216235/provident-financial-pfs-reports-q4-earnings-what-key-metrics-have-to-say
| 2024-01-26T00:25:31Z
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For the quarter ended December 2023, Customers Bancorp (CUBI - Free Report) reported revenue of $191.18 million, up 34.2% over the same period last year. EPS came in at $1.90, compared to $1.19 in the year-ago quarter.
The reported revenue represents a surprise of +1.76% over the Zacks Consensus Estimate of $187.87 million. With the consensus EPS estimate being $1.76, the EPS surprise was +7.95%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Customers Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 49.1% versus 47.6% estimated by four analysts on average.
- Average Interest-Earning Assets: $20.80 billion compared to the $21.20 billion average estimate based on four analysts.
- Net Interest Margin: 3.3% versus 3.2% estimated by four analysts on average.
- Net charge-offs to average loans: 0.5% compared to the 0.6% average estimate based on two analysts.
- Total Non-Interest Income: $18.67 million versus the five-analyst average estimate of $18.40 million.
- Bank-owned life insurance: $2.16 million versus the four-analyst average estimate of $2.13 million.
- Net interest income tax equivalent: $172.90 million versus $171.61 million estimated by four analysts on average.
- Mortgage warehouse transactional fees: $0.93 million compared to the $1.22 million average estimate based on four analysts.
- Net Interest Income: $172.51 million versus $169.93 million estimated by four analysts on average.
- Commercial lease income: $9.04 million versus $8.99 million estimated by three analysts on average.
- Loan fees: $5.93 million versus the two-analyst average estimate of $5.83 million.
Shares of Customers Bancorp have returned -11.1% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216236/customers-bancorp-cubi-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:25:38Z
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Visa (V - Free Report) reported $8.63 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 8.8%. EPS of $2.41 for the same period compares to $2.18 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $8.5 billion, representing a surprise of +1.52%. The company delivered an EPS surprise of +3.43%, with the consensus EPS estimate being $2.33.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Visa performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- End of Period Connections - Total transactions: 57,472 million versus 57,518.65 million estimated by six analysts on average.
- Total payments volume: $3,276 billion compared to the $3,283.89 billion average estimate based on six analysts.
- Total volume: $3,910 billion versus $3,884.03 billion estimated by four analysts on average.
- Payments Volume - Europe: $636 billion compared to the $625.2 billion average estimate based on three analysts.
- Cash volume - LAC: $143 billion versus the three-analyst average estimate of $128.08 billion.
- Cash volume - Asia pacific: $81 billion versus the three-analyst average estimate of $77.49 billion.
- Cash Volume - Europe: $131 billion versus $128.04 billion estimated by three analysts on average.
- Revenues- Service revenues: $3.92 billion versus the 12-analyst average estimate of $3.88 billion. The reported number represents a year-over-year change of +11.5%.
- Revenues- Data processing revenues: $4.36 billion compared to the $4.25 billion average estimate based on 12 analysts. The reported number represents a change of +13.8% year over year.
- Revenues- International transaction revenues: $3.02 billion versus $3.06 billion estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenues- Other revenues: $692 million versus $677.61 million estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +17.9% change.
- Revenues- Client incentives: -$3.35 billion compared to the -$3.35 billion average estimate based on 11 analysts. The reported number represents a change of +20.2% year over year.
Shares of Visa have returned +4.9% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216237/visa-v-reports-q1-earnings-what-key-metrics-have-to-say
| 2024-01-26T00:25:44Z
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Federated Hermes (FHI - Free Report) reported $391.5 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 4.7%. EPS of $0.96 for the same period compares to $0.90 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $396.36 million, representing a surprise of -1.23%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $0.84.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Federated Hermes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Managed Assets - Separate Accounts - Money market: $153.83 billion versus $144.89 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Total Managed Assets: $757.62 million versus $719.88 million estimated by two analysts on average.
- Managed Assets - Asset Class - Equity: $79.29 billion versus $80.98 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Fixed-income: $94.92 billion versus $91.48 billion estimated by two analysts on average.
- Managed Assets - Asset Class - Alternative / private markets: $20.55 billion versus the two-analyst average estimate of $20.76 billion.
- Managed Assets - Asset Class - Multi-asset: $2.87 billion compared to the $2.77 billion average estimate based on two analysts.
- Managed Assets - Separate Accounts - Multi-asset: $137 million versus $181.24 million estimated by two analysts on average.
- Managed Assets - Asset Class - Money market: $559.99 billion compared to the $523.88 billion average estimate based on two analysts.
- Managed Assets - Product Type - Alternative / private markets: $12.38 billion compared to the $12.69 billion average estimate based on two analysts.
- Revenue- Investment advisory fees, net: $264.69 million versus the two-analyst average estimate of $273.52 million. The reported number represents a year-over-year change of +3%.
- Revenue- Other service fees, net: $35.87 million compared to the $39.17 million average estimate based on two analysts. The reported number represents a change of -12.7% year over year.
- Revenue- Administrative service fees, net: $90.93 million versus $84.57 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.9% change.
Shares of Federated Hermes have returned +1% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216238/federated-hermes-fhi-q4-earnings-how-key-metrics-compare-to-wall-street-estimates
| 2024-01-26T00:25:50Z
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For the quarter ended December 2023, Columbia Financial (CLBK - Free Report) reported revenue of $56.59 million, down 25.5% over the same period last year. EPS came in at $0.09, compared to $0.21 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $54.9 million, representing a surprise of +3.08%. The company delivered an EPS surprise of +28.57%, with the consensus EPS estimate being $0.07.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Columbia Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 84.8% versus 78.8% estimated by two analysts on average.
- Net Interest Margin: 1.9% compared to the 2% average estimate based on two analysts.
- Total Non-Interest Income: $11.25 million versus the two-analyst average estimate of $8.50 million.
- Net Interest Income: $45.34 million versus the two-analyst average estimate of $46.40 million.
Shares of Columbia Financial have returned -3.5% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216239/columbia-financial-clbk-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:25:56Z
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Seacoast Banking (SBCF - Free Report) reported $128.16 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 6.7%. EPS of $0.35 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of -5.30% over the Zacks Consensus Estimate of $135.33 million. With the consensus EPS estimate being $0.40, the EPS surprise was -12.50%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Seacoast Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 60.3% versus 64.3% estimated by four analysts on average.
- Net Interest Margin: 3.4% versus the four-analyst average estimate of 3.5%.
- Total Net Charge-offs (Recoveries) to Average Loans: 0.2% versus the three-analyst average estimate of 0.1%.
- Total nonperforming loans: $65.10 million versus the two-analyst average estimate of $42.01 million.
- Total nonperforming assets: $72.66 million versus $49.27 million estimated by two analysts on average.
- Average Balance - Total Earning Assets: $13.10 billion compared to the $13.19 billion average estimate based on two analysts.
- Total noninterest income: $17.34 million versus the four-analyst average estimate of $19.25 million.
- Net interest income - FTE: $111.04 million compared to the $116.15 million average estimate based on four analysts.
- Net interest income: $110.82 million compared to the $115.40 million average estimate based on three analysts.
Shares of Seacoast Banking have returned -7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216240/seacoast-banking-sbcf-reports-q4-earnings-what-key-metrics-have-to-say
| 2024-01-26T00:26:03Z
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For the quarter ended December 2023, WSFS Financial (WSFS - Free Report) reported revenue of $265.33 million, up 2.5% over the same period last year. EPS came in at $1.15, compared to $1.38 in the year-ago quarter.
The reported revenue represents a surprise of +6.79% over the Zacks Consensus Estimate of $248.46 million. With the consensus EPS estimate being $1.08, the EPS surprise was +6.48%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how WSFS performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 4% compared to the 4% average estimate based on two analysts.
- Efficiency Ratio: 55.6% versus 56.8% estimated by two analysts on average.
- Net Interest Income: $178.13 million versus the two-analyst average estimate of $176.99 million.
- Total Non-Interest Income: $87.21 million versus $71.12 million estimated by two analysts on average.
- Mortgage banking activities, net: $1.12 million compared to the $0.95 million average estimate based on two analysts.
Shares of WSFS have returned -2.5% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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https://www.zacks.com/stock/news/2216241/wsfs-wsfs-q4-earnings-taking-a-look-at-key-metrics-versus-estimates
| 2024-01-26T00:26:09Z
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For the quarter ended December 2023, Western Alliance (WAL - Free Report) reported revenue of $691.3 million, down 2.7% over the same period last year. EPS came in at $1.91, compared to $2.67 in the year-ago quarter.
The reported revenue represents a surprise of -2.08% over the Zacks Consensus Estimate of $705.97 million. With the consensus EPS estimate being $1.93, the EPS surprise was -1.04%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Western Alliance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 66.8% compared to the 58.9% average estimate based on six analysts.
- Net Interest Margin: 3.7% versus 3.6% estimated by six analysts on average.
- Average Balance - Total interest earning assets: $65.33 billion versus the five-analyst average estimate of $65.18 billion.
- Net charge-offs to average loans: 0.1% versus 0.1% estimated by four analysts on average.
- Tier 1 Leverage Ratio: 8.6% compared to the 9.6% average estimate based on two analysts.
- Total non-interest income: $90.50 million versus the six-analyst average estimate of $108.95 million.
- Net interest income: $591.70 million versus $590.86 million estimated by five analysts on average.
- Commercial banking related income: $5.90 million versus the four-analyst average estimate of $5.72 million.
- Net gain on loan origination and sale activities: $47.80 million versus the four-analyst average estimate of $44.58 million.
- Service charges and fees: $22.70 million compared to the $24.19 million average estimate based on four analysts.
- Net loan servicing revenue (expense): $9.10 million versus the four-analyst average estimate of $25.56 million.
- Other non-interest income: $8.10 million compared to the $6.70 million average estimate based on two analysts.
Shares of Western Alliance have returned -1% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216242/western-alliance-wal-q4-earnings-how-key-metrics-compare-to-wall-street-estimates
| 2024-01-26T00:26:15Z
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For the quarter ended December 2023, Investar (ISTR - Free Report) reported revenue of $20.25 million, down 22% over the same period last year. EPS came in at $0.39, compared to $0.62 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $20.84 million, representing a surprise of -2.83%. The company delivered an EPS surprise of +56.00%, with the consensus EPS estimate being $0.25.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Investar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin [%]: 2.7% versus 2.7% estimated by two analysts on average.
- Efficiency Ratio [%]: 76.3% compared to the 75.2% average estimate based on two analysts.
- Total Noninterest Income: $1.76 million versus $2.07 million estimated by two analysts on average.
- Net Interest Income: $18.49 million versus the two-analyst average estimate of $18.80 million.
Shares of Investar have returned +12.7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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https://www.zacks.com/stock/news/2216243/investar-istr-q4-earnings-how-key-metrics-compare-to-wall-street-estimates
| 2024-01-26T00:26:21Z
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Flushing Financial (FFIC - Free Report) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 8.70%. A quarter ago, it was expected that this holding company for Flushing Bank would post earnings of $0.25 per share when it actually produced earnings of $0.31, delivering a surprise of 24%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Flushing Financial
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Flushing Financial shares have added about 1.8% since the beginning of the year versus the S&P 500's gain of 2.1%.
What's Next for Flushing Financial?
While Flushing Financial has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Flushing Financial: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.14 on $47.58 million in revenues for the coming quarter and $0.83 on $192.53 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Savings and Loan is currently in the bottom 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, BankFinancial (BFIN - Free Report) , is yet to report results for the quarter ended December 2023.
This bank holding company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -22.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
BankFinancial's revenues are expected to be $14.4 million, down 6.4% from the year-ago quarter.
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https://www.zacks.com/stock/news/2216244/flushing-financial-ffic-beats-q4-earnings-and-revenue-estimates
| 2024-01-26T00:26:28Z
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Boston Properties, Inc. (BXP - Free Report) is slated to report fourth-quarter and full-year 2023 results on Jan 30 after market close. While its quarterly results are likely to reflect year-over-year growth in revenues, funds from operations (FFO) per share might exhibit a decline.
In the last reported quarter, this office real-estate investment trust (REIT) delivered a surprise of 0.54% in terms of FFO per share. The quarterly results reflected better-than-anticipated revenues on healthy leasing activity.
Over the preceding four quarters, Boston Properties’ FFO per share surpassed the Zacks Consensus Estimate on all occasions, the average beat being 1.68%. This is depicted in the graph below:
US Office Market
Per a Cushman & Wakefield (CWK - Free Report) report, the economic uncertainty, hybrid-work environment and declines in office-using employment continued to keep occupiers cautious about office leasing decisions, resulting in a decrease in new leasing activity and renewals in the fourth quarter.
The fourth quarter of 2023 marked the eighth straight quarter for office demand being negative. Net negative absorption for the quarter was -19.2 million square feet (msf), which pushed the 2023 annual total to -77.5 msf.
The overall U.S. gross leasing activity in 2023 was 282 msf, which reflected a decline of 21% from the prior year. Moreover, the national vacancy rate climbed 200 basis points (bps) in 2023 and finished the year at 19.7%, which marks an all-time high. The national asking rent came in at $37.67 in the quarter.
However, total leasing increased quarter over quarter in 31 U.S. markets. This included all three Manhattan markets, San Francisco, San Jose, Charlotte and Austin.
Moreover, across a fourth of U.S. markets, vacancy fell, and it remained below 15% in 35 of the markets that were followed by Cushman & Wakefield. Premium quality office space continued to be in demand and outperformed the broader market. Particularly, office vacancy for such assets is almost 300 bps below the overall average, while asking rents are 40% higher.
Projections
Boston Properties owns a portfolio of modern, class A office buildings concentrated in a few select high-rent, high-barrier-to-entry geographic markets of Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC. Given the improving demand for top-tier assets with class-apart amenities, the company’s properties are likely to have witnessed healthy leasing activity.
There is a solid demand for life-science assets amid the increasing need for drug research and innovation. Against this backdrop, the demand for BXP’s life-science assets is anticipated to have fared well during the fourth quarter. The company is converting numerous straight office buildings to laboratory/life science spaces in its suburban portfolio, especially its Kendall Center project, which is one of the leading preferred locations for life science clients in the world. Such efforts are likely to have given it an edge.
Long-term lease agreements with a diverse tenant base across industries having a solid credit profile are expected to have led to stable revenue generation during the to-be-reported quarter, boosting the top line.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $762.28 million, suggesting growth of 3.14% from the prior-year quarter’s reported number. The consensus estimate for quarterly parking and other revenues is pegged at $29.05 million, slightly down from $29.65 million reported in the prior quarter but up from $26.99 million in the year-ago period.
A solid balance sheet position is likely to have supported its development activities in the quarter.
However, the elevated supply of office properties in some markets where the company operates is anticipated to have cast a pall on its quarterly performance to a certain extent. The rising supply is escalating competition from developers, owners and operators of office properties and other commercial real estate. This might have partly limited BXP’s ability to retain tenants at relatively higher rents and/or backfill tenant move-outs and vacancies.
For 2023, management expects average in-service portfolio occupancy to range from 88% to 89.0%. We expect the company to maintain an occupancy rate of 88.6% in 2023.
Further, higher interest expenses are expected to have been a spoilsport. Management expects consolidated net interest expenses for 2023 between $510 million and $520 million. Our estimate suggests a year-over-year rise of 18.6% in interest expenses in 2023.
Boston Properties’ activities in the to-be-reported quarter were inadequate to garner analysts’ confidence. The Zacks Consensus Estimate for the quarterly FFO per share has remained unrevised at $1.81 over the past month. The figure suggests a 2.69% decrease from the year-ago quarter’s tally.
For 2023, Boston Properties projected FFO per share in the band of $7.25-$7.27. The full-year outlook of the company is based on the assumption of its share of the same property NOI on a cash basis (excluding termination income) growth of 1.50-2.5%.
For the full year, the Zacks Consensus Estimate for FFO per share has been unrevised at $7.27 over the past month. The figure indicates a 3.45% decrease from the year-ago reported figure. However, the Zacks Consensus Estimate for 2023 revenues is pegged at $3.05 billion, indicating an increase of 4.38% from the year-ago reported number.
Here Is What Our Quantitative Model Predicts:
Our proven model does not conclusively predict a surprise in terms of FFO per share for Boston Properties this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is not the case here.
Boston Properties currently carries a Zacks Rank of 3 and has an Earnings ESP of -1.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a Look
Here are three stocks from the broader REIT sector — Welltower Inc. (WELL - Free Report) , VICI Properties Inc. (VICI - Free Report) and Kimco Realty Corporation (KIM - Free Report) — you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter.
Welltower is slated to report quarterly numbers on Feb 13. WELL has an Earnings ESP of +0.80% and carries a Zacks Rank of 3 presently. You can see the complete list of today’s Zacks #1 Rank stocks here.
VICI Properties, scheduled to report quarterly numbers on Feb 22, has an Earnings ESP of +2.16% and carries a Zacks Rank of 2.
Kimco Realty, slated to release quarterly numbers on Feb 8, has an Earnings ESP of +2.56% and carries a Zacks Rank of 2 at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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https://www.zacks.com/stock/news/2215938/key-factors-to-impact-boston-properties-bxp-q4-earnings
| 2024-01-26T00:26:36Z
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AngioDynamics, Inc. (ANGO - Free Report) recently announced the US Food and Drug Administration (FDA) clearance for the Auryon XL Catheter, a 225-cm radial access catheter, for use with the Auryon Atherectomy System in the treatment of Peripheral Arterial Disease (PAD).
With this 225-cm catheter length, access points in Atherectomy procedures can be expanded, which can help reduce access site complications and accelerate patient recovery.
Price Performance
For the past six months, ANGO’s shares have plunged 31.0% compared with the industry’s decline of 5.0%. The S&P 500 increased 6.6% in the same time frame.
Image Source: Zacks Investment Research
More on the News
The Auryon XL Catheter increases treatment access points during PAD atherectomy treatments. It comes in 0.9 mm and 1.5 mm sizes. Comparing the use of a generic radial access catheter to femoral access, there may be a decrease in serious bleeding occurrences.
Furthermore, the Auryon XL Catheter might make femoral closure devices unnecessary and enable the treatment of bilateral diseases in a single session, promoting better patient mobility, an earlier discharge, and a quicker rate of patient recovery.
Being the first non-orbital atherectomy device, the Auryon XL Catheter sets a new benchmark for laser atherectomy technology with its revolutionary design and ease of use. It delivers substantial breakthroughs to radial operations.
AngioDynamics launched the Auryon XL Catheter on a limited market in the United States in January 2024 after receiving FDA 510(k) clearance, with plans to go full market in February.
This FDA clearance is likely to boost the company’s med tech business, in which the Auryon segment forms a major part along with NanoKnife.
Industry Prospects
Per a report by Transparency Market Research, the market size for the global atherectomy system was valued at $621.8 million in 2021 and is expected to grow at a rate of 6.0%. The market is expected to rise more than $1.1 billion by 2031.
It is anticipated that the market for atherectomy system will rise because of the growing need for less invasive surgical procedures and the increase in the prevalence of cardiovascular diseases.
Zacks Rank & Stocks to Consider
ANGO carries a Zacks Rank #4 (Sell) at present.
Some better-ranked stocks to consider in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) , and Acadia Healthcare (ACHC - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
Integer Holdings, presently carrying a Zacks Rank of 2, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.
Acadia Healthcare, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.4%. ACHC’s long-term earnings are expected to grow at 11.2%.
Acadia Healthcare’s shares have gained 11.7% in the past six months against the industry’s decline of 5%.
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https://www.zacks.com/stock/news/2215940/angiodynamics-ango-new-xl-catheter-to-help-in-pad-treatment
| 2024-01-26T00:26:42Z
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Las Vegas Sands Corp. (LVS - Free Report) reported mixed fourth-quarter 2023 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top and the bottom line increased on a year-over-year basis.
During the quarter, the company reported continued improvement in the operating environment in Macao and Singapore. In Macao, the company reported a sustained recovery across all segments. Singapore’s Marina Bay Sands demonstrated solid financial and operational performance. The introduction of new suite options and improved services is in line with the improving airlift capacity and the continuous recovery in travel and tourism spending, especially from China and the broader region.
Following results, shares of this international developer of multi-use integrated resorts gained 3.4% in the after-hours trading session on Jan 24.
Q4 Earnings & Revenues
During fourth-quarter 2023, LVS reported adjusted earnings per share (EPS) of 57 cents, missing the Zacks Consensus Estimate of 63 cents. In the year-ago quarter, it incurred an adjusted loss of 19 cents per share. Interest expenses (net of amounts capitalized) amounted to $190 million compared with $201 million reported in the prior-year quarter.
Quarterly revenues of $2.92 billion surpassed the consensus mark of $2.9 billion. The figure increased 161% from $1.1 billion reported in the year-ago quarter.
Asian Operations
Las Vegas Sands’ Asia business includes the following resorts (all figures are compared with the prior-year quarter’s reported levels):
The Venetian Macao
Net revenues from The Venetian Macao were $748 million compared with $201 million in the prior-year quarter. The upside was driven by a rise in casino, rooms and mall revenues. Our estimate was $706.6 million.
Quarterly revenues from casinos, rooms and malls were $607 million, $49 million and $66 million, respectively, compared with the prior-year quarter’s reported figures of $130 million, $17 million and $43 million. Convention, retail and other revenues were $10 million compared with $6 million reported a year ago. Food and beverage revenues were $16 million compared with $5 million in the last year quarter.
Adjusted property EBITDA totaled $302 million compared with $14 million in fourth-quarter 2022. Our estimate for the metric was $294.6 million.
Non-rolling chip drop and rolling chip volume were $2.5 billion and $1.2 billion compared with the year-ago quarter’s reported figure of $491 million and $197 million, respectively.
The segment’s hotel revenue per available room (RevPAR) was $200 million compared with $73 million reported in the year-ago period. Occupancy rates came in at 98.7% compared with prior year’s reported value of 50.2%.
The Londoner Macao
Net revenues from The Londoner Macao amounted to $589 million compared with $93 million reported in the prior-year period. The upside was backed by an increase in casinos, rooms and malls and food and beverage revenues. The consensus mark was pegged at $472.2 million.
Revenues from casinos, rooms and food and beverage totaled $433 million, $92 million and $27 million, respectively, compared with the year-ago quarter’s reported figure of $49 million, $18 million and $7 million. Mall revenues increased to $19 million from $12 million in the year-ago quarter. Quarterly revenues from convention, retail and other totaled $18 million, up from $7 million reported in the prior year.
Adjusted property EBITDA totaled $190 million against ($42) million reported a year ago. Our estimate for the metric was pegged at $139.2 million.
Non-rolling chip drop and rolling chip volume were $1.9 billion and $2.3 billion, respectively, compared with the year-ago quarter’s reported figures of $252 million and $165 million.
The segment’s hotel RevPAR was $180 million compared with $52 million in the prior-year quarter. Occupancy rates came in at 96.8% compared with 30.7% reported in the fourth quarter of 2022.
The Parisian Macao
Net revenues from The Parisian Macao were $222 million, up from $51 million reported a year ago. The uptick was primarily due to an improvement in casino, rooms and food and beverage revenues. The consensus mark was pegged at $242.8 million.
Revenues from casinos, rooms, and food and beverage were $163 million, $35 million and $14 million, respectively, compared with the year-ago quarter’s reported figures of $33 million, $10 million and $3 million.
Adjusted property EBITDA totaled $68 million against ($26) million reported a year ago. Our estimate for the metric was $88.2 million.
Non-rolling chip drop was $778 million compared with $123 million reported a year ago. Rolling chip volume amounted to $31 million compared with $48 million reported in fourth-quarter 2022.
The segment’s hotel RevPAR increased to $151 million from the prior year’s reported figure of $42 million. Occupancy rates came in at 98.8% compared with prior year’s reported value of 36.1%.
The Plaza Macao and Four Seasons Macao
Net revenues from The Plaza Macao and Four Seasons Macao were $192 million, up from $75 million reported a year ago. The uptrend can be attributed to a rise in casino, rooms and mall revenues. Our estimate for the metric was $216.6 million.
Casino, rooms and mall revenues were $95 million, $25 million and $62 million, respectively, compared with the year-ago quarter’s figures of $26 million, $9 million and $37 million.
Adjusted property EBITDA totaled $71 million compared with $26 million reported in the prior-year quarter. Our estimate was $112.5 million.
Non-rolling chip drop and rolling chip volume were $682 million and $2.4 billion, respectively, compared with $90 million and $177 million reported in the prior-year quarter.
The segment’s hotel RevPAR was $416 million compared with $140 million reported in the fourth quarter of 2022. Occupancy rates were 87.8% compared with the prior year’s reported value of 31%.
Sands Macao
Net revenues from Sands Macao were $81 million compared with the year-ago period’s value of $17 million. This was mainly due to a rise in casino revenues. Casino revenues totaled $72 million compared with $14 million reported in the prior-year quarter. Our projections for Sands Macao revenues were $104 million.
Adjusted property EBITDA totaled $17 million against ($20) million in the prior-year period. Our estimate was $22.3 million.
Non-rolling chip drop and rolling chip volume were $410 million and $28 million, respectively, compared with the year-ago quarter’s reported values of $56 million and $30 million.
The segment’s hotel RevPAR was $173 million, up from the year-ago figure of $67 million. Occupancy rates came in at 98.9% compared with 44.1% reported in the prior-year quarter.
Marina Bay Sands, Singapore
Net revenues from Marina Bay Sands totaled $1.06 billion, up from $682 million reported in the prior-year quarter. The upside was primarily driven by an increase in casino, rooms, food and beverage, and mall revenues. Our estimate for the metric was $1.03 billion.
Revenues from casinos, and food and beverage totaled $741 million and $92 million, up from the year-ago quarter’s reported values of $402 million and $84 million, respectively. Rooms, malls, and convention, retail and other generated revenues were $117 million, $76 million and $35 million, respectively, compared with $99 million, $67 million and $30 million reported in the year-ago quarter.
Adjusted property EBITDA totaled $544 million compared with $273 million reported in the prior-year quarter. We expected the value of this metric to be $558 million.
Non-rolling chip drop and rolling chip volume were $1.9 billion and $7.2 billion, respectively, compared with the year-ago quarter’s reported values of $1.5 billion and $7.1 billion.
The segment’s hotel RevPAR was $611 million compared with $541 million in fourth quarter of 2022. Occupancy rates were 94.4% compared with 98.3% reported in prior year quarter.
Operating Results
On a consolidated basis, adjusted property EBITDA totaled $1.2 billion in the fourth-quarter 2023 compared with $222 million reported in the year-ago quarter.
2023 Highlights
Net revenues in 2023 came in at $10.4 billion compared with $4.1 billion in 2022.
Operating income (loss) in 2023 came in at $2.3 billion against ($0.8) billion reported in 2022.
In 2023, diluted earnings per share came in at $1.89 per share against ($1.20) reported in the previous year.
Balance Sheet
As of Dec 31, 2023, unrestricted cash balances amounted to $5.11 billion compared with $5.57 billion in the previous quarter. Total debt outstanding (excluding finance leases and financed purchases) was $14.01 billion, down from $14.17 billion in the earlier quarter.
In the reported quarter, capital expenditures totaled $325 million, thanks to construction, development and maintenance activities of $109 million in Macao, $184 million at Marina Bay Sands and $32 million in corporate, development and other.
Zacks Rank & Key Picks
Las Vegas Sands currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector are as follows:
Virco Mfg. Corporation (VIRC - Free Report) sports a Zacks Rank #1 (Strong Buy). VIRC has a trailing four-quarter earnings surprise of 188.6% on average. VIRC’s shares have surged 155.7% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for VIRC’s 2024 sales and earnings per share (EPS) indicates a rise of 15.7% and 32.4%, respectively, from the year-ago period’s levels.
Wyndham Hotels & Resorts, Inc. (WH - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 6.6%, on average. The stock has gained 1.6% in the past year.
The Zacks Consensus Estimate for WH’s fiscal 2024 sales and EPS implies a decline of 4.5% and 7.7%, respectively, from the year-ago levels.
Corsair Gaming, Inc. (CRSR - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 4.1%, on average. The stock has declined 34.1% in the past year.
The Zacks Consensus Estimate for CRSR’s 2024 sales and EPS indicates an improvement of 12.1% and 39.8%, respectively, from the year-ago period’s levels.
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Alphabet (GOOGL - Free Report) is scheduled to report fourth-quarter 2023 results on Jan 30.
For the quarter under review, the Zacks Consensus Estimate for revenues is pegged at $70.71 billion, indicating an improvement of 12% from the year-ago reported number.
The consensus mark for earnings is pegged at $1.60, indicating 52.4% growth from the previous year’s reported figure. The figure has been stable over the past 30 days.
The company surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing in the remaining one, delivering an earnings surprise of 4.62%, on average.
Search, YouTube & Ad Efforts to Consider
The company’s continued efforts toward innovation in artificial intelligence (AI) techniques for the advancement of its search segment, which accounts for a major portion of its total revenues, are expected to have driven traffic on its platform in the to-be-reported quarter.
The integration of generative AI technology into the search engine might have continued to benefit Google Search. With the large language models (LLM)-powered enhanced search results, GOOGL is likely to have driven its search momentum in the fourth quarter.
Bard’s integration might have been a major positive for the company's search platform. Assistant with Bard, which aids in generating better AI-backed search results, is likely to have boosted the search traffic further.
The Search Generative Experience (SGE), which leverages generative AI technology to make search results more natural and intuitive, is likely to have contributed well.
This, along with strength across Google Lens and Google Maps, is expected to have contributed well to the fourth quarter’s Search performance.
The Zacks Consensus Estimate for Google Search & Other revenues is pegged at $47.84 billion, indicating an increase of 12.3% from the year-ago quarter’s reported figure.
Coming to the advertisement business, Alphabet’s growing efforts to deliver better performance and profitability to advertisers on the back of foundational research models and LLMs are expected to have contributed well.
SGE is expected to have aided the advertisement business as it can create relevant, customized and high-quality ads.
Stabilization in advertisers’ spending is expected to have benefited the advertising business. The strength in conversational experience of Google Ads and Performance Max is likely to have driven the company’s momentum among advertisers during the fourth quarter. The improving performance of YouTube ads might have been another positive.
However, softness in Network advertising might have been a major concern.
The consensus mark for Google advertising is pegged at $65.45 billion, suggesting growth of 10.8% from the reported figure in the prior-year quarter.
Coming to the non-advertisement revenues of YouTube, strengthening user momentum in YouTube Shorts might have been a tailwind. Google’s growing efforts to bolster relationships with content creators are likely to have acted as a positive.
The introduction of major updates and various user-friendly features of YouTube Premium is likely to have bolstered the Premium subscriber base in the quarter under review. Also, solid momentum in Connected TV might have been a plus.
These factors might have driven growth in Google’s Other revenues, for which the consensus mark is pinned at $9.65 billion, indicating growth of 9.7% from the year-ago reported figure.
The growing momentum across Android 14 is likely to have benefited Alphabet’s performance in the to-be-reported quarter.
All the abovementioned factors are expected to have benefited Google’s Services segment’s performance in the fourth quarter.
The Zacks Consensus Estimate for Google Services revenues is pegged at $74.95 billion, suggesting growth of 10.5% from the year-ago reported figure.
Strength in Cloud & Other Bets to Benefit
Alphabet’s go-to-market strategy, expanding cloud service portfolio and strengthening cloud infrastructure, including data centers and cloud regions, is expected to have benefited Google Cloud’s fourth-quarter performance.
The solid adoption of the Google Cloud Platform and Google Workspace is likely to have contributed well to the performance of the Google Cloud segment in the quarter under review.
The Zacks Consensus Estimate for Google Cloud revenues is pinned at $9.04 billion, indicating growth of 23.6% from the reported figure in the prior-year quarter.
Alphabet’s strengthening efforts toward bolstering its healthcare technology portfolio are expected to have driven growth in its Other Bets segment during the fourth quarter.
The Zacks Consensus Estimate for Other Bets revenues is pegged at $251 million, indicating growth of 31.9% from the year-ago quarter’s reported figure.
What Our Model Says
Our proven model predicts an earnings beat for Alphabet this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below.
Alphabet has an Earnings ESP of +2.26%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
GOOGL carries a Zacks Rank #3 at present.
Other Stocks to Consider
Here are some other companies that, too, per our model, have the right combination of elements to post an earnings beat in the soon-to-be-reported quarterly results.
Apple (AAPL - Free Report) has an Earnings ESP of +2.13% and a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Apple is scheduled to release first-quarter fiscal 2024 results on Feb 1. The Zacks Consensus Estimate for AAPL’s earnings is pegged at $2.08 per share, suggesting a jump of 10.6% from the prior-year quarter.
A. O. Smith (AOS - Free Report) has an Earnings ESP of +3.80% and a Zacks Rank #2 at present.
A. O. Smith is set to report fourth-quarter 2023 results on Jan 30. The Zacks Consensus Estimate for AOS’s earnings is pinned at 95 cents per share, suggesting growth of 10.5% from the prior-year period’s reported figure.
Fortive (FTV - Free Report) has an Earnings ESP of +0.64% and a Zacks Rank #2 at present.
Fortive is scheduled to release fourth-quarter 2023 results on Jan 31. The Zacks Consensus Estimate for FTV’s earnings is pinned at 93 cents per share, indicating growth of 5.7% from the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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BOK Financial Corporation’s (BOKF - Free Report) fourth-quarter 2023 adjusted earnings per share of $1.78 beat the Zacks Consensus Estimate of $1.72. The bottom line compared unfavorably to the earnings of $2.51 per share a year ago.
The results benefited from a rise in total fees and commissions and higher loans and deposit balances. Moreover, the provisions witnessed a significant decline. However, lower net interest revenues and elevated expenses were the major undermining factors.
The results excluded the charges related to the FDIC special assessment. After considering it, net income attributable to shareholders was $82.6 million, down 51% year over year.
In 2023, earnings per share were $8.02, up 4.4% from 2022. However, the figure missed the Zacks Consensus Estimate of $8.49. Net income attributable to shareholders (GAAP) was $530.7 million, up 2% year over year.
Quarterly Revenues Decline, Expenses Rise
Quarterly net revenues of $501.6 million (net interest revenues and total other operating revenues) were down 8.8% year over year. However, the top line surpassed the Zacks Consensus Estimate of $485.9 million.
In 2023, total revenues were $2.06 billion, up 11.2% year over year. The top line surpassed the Zacks Consensus Estimate of $2.05 billion.
Net interest revenues were $296.7 million, down 15.9% year over year. Net interest margin (NIM) deteriorated 90 basis points to 2.64%.
Total fees and commissions were $196.8 million, up 1.7% year over year. The rise was driven by an increase in almost all fee income components except for brokerage and trading revenues and other revenues. Total other operating expenses were $384.1 million, up 20.6% year over year. The rise was primarily due to an increase in both personnel and non-personnel expenses and $43.8 million of charges related to FDIC special assessment.
The efficiency ratio increased to 71.62% from the prior year’s 56.61%. A rise in the efficiency ratio indicates a deterioration in profitability.
As of Dec 31, 2023, total loans were $23.9 billion, up marginally from the previous quarter. Total deposits amounted to $34 billion, up 1.1%.
Credit Quality Improves
Non-performing assets were $148.3 million or 0.62% of outstanding loans and repossessed assets as of Dec 31, 2023, which declined from $299.6 million or 1.33% recorded in the year-ago period.
Provisions for credit losses was recorded at $6 million, which decreased 60% from the prior-year quarter. Also, the company recorded net charge-offs of $4.1 million, which decreased 73.6% from the prior-year quarter.
However, the allowance for loan losses was 1.16% of outstanding loans as of Dec 31, 2023, which increased from 1.04% year over year.
Capital Ratios Improve & Profitability Ratios Decline
As of Dec 31, 2023, common equity Tier 1 capital ratio was 12.06%, which rose from 11.69% as of Dec 31, 2022. Tier 1 and total capital ratios were 12.07% and 13.16%, which increased from 11.71% and 12.67%, respectively, as of Dec 31, 2022.
The leverage ratio was 9.45%, which declined from 9.91% as of Dec 31, 2022.
Return on average equity was 6.64%, down from the year-earlier quarter’s 14.48%. Return on average assets was 0.66%, down from 1.48% in the year-ago quarter.
Share Repurchase Update
During the fourth quarter, BOKF repurchased 0.7 million shares at an average price of $70.99 per share.
Our View
BOK Financial is poised to benefit from solid loan and deposit balances and higher interest rates. Declining provisions will also support the company’s financials. However, a decline in non-interest revenues and elevated expenses are near-term concerns.
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Banks
Hancock Whitney Corp.’s (HWC - Free Report) fourth-quarter 2023 adjusted earnings per share of $1.26 beat the Zacks Consensus Estimate of $1.08. Adjusted earnings per share, however, compared unfavorably with $1.65 earned in the year-ago quarter.
HWC’s results were impacted by a decline in both NII and non-interest income. Further, a slight decrease in loan balances and an increase in expenses and provisions acted as spoilsports.
WaFd, Inc.’s (WAFD - Free Report) first-quarter fiscal 2024 (ended Dec 31) earnings of 85 cents per share surpassed the Zacks Consensus Estimate of 72 cents. However, the bottom line declined 26.7% year over year.
WAFD’s results primarily benefited from the rise in other income and steady loan balance. In the reported quarter, the company did not record any provision for credit losses. However, a fall in NII and an increase in other expenses acted as spoilsports.
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Microsoft’s (MSFT - Free Report) second-quarter fiscal 2024 results, scheduled to be reported on Jan 30, are likely to be driven by the consistent growth in its cloud platform, Azure.
For the fiscal second quarter, Microsoft expects Intelligent Cloud revenues (Azure falls under the segment) between $21.5 billion and $25.4 billion.
Our model estimate for Intelligent Cloud revenues is currently pegged at $25.11 billion, indicating 16.8% growth from that reported in the year-ago quarter.
Continued Growth in Azure to Drive the Top Line
Microsoft is benefiting from continued demand for cloud infrastructure monitoring, web-based application performance management and human capital management solutions, fueled by the increasing migration of workloads to the cloud.
In Azure, Microsoft expects revenue growth in the range of 26-27% at cc, with increasing contributions from all Azure AI services.
In the fiscal first quarter, Azure’s year-over-year top-line growth rate of 29% (up 28% at cc) was higher than 26% (up 27% at cc) reported in the previous quarter. The growth continues to be driven by Azure consumption-based business and the company expects the trends from the fiscal first quarter to continue into the second quarter. Microsoft’s per-user business should continue to benefit from momentum in the Microsoft 365 suite.
This Zacks Rank #2 (Buy) company is also witnessing increasing momentum with Azure Arc, which now has 21,000 customers, up 140% year over year, including Carnival Corp., Domino’s and Thermo Fisher. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Azure’s increased availability in more than 60 announced regions globally is expected to have strengthened Microsoft’s competitive position in the cloud computing market, dominated by Amazon’s (AMZN - Free Report) division, Amazon Web Services (“AWS") and Alphabet’s (GOOGL - Free Report) Google Cloud.
In the last reported quarter, AWS revenues (16.1% of sales) rose 12.3% year over year to $23.06 billion. AWS’ operating income was $6.98 billion, up 29.1% year over year. The expansion of its AWS portfolio has been helping Amazon to maintain its dominance in the cloud domain by gaining more customers.
Alphabet’s Google Cloud revenues rose 22.5% year over year to $8.41 billion, accounting for 10.9% of the quarter’s total revenues. Google Cloud reported operating income of $266 million compared with a loss of $440 million in the year-ago quarter.
Microsoft Leads Generative AI Race With Azure AI
Azure AI provides access to best-in-class frontier models from OpenAI and open-source models, including the company’s own, as well as from Meta and Hugging Face, which customers can use to build their own AI apps while meeting specific cost, latency and performance needs.
As OpenAI’s exclusive cloud provider, Azure powers all of its workloads. More than 18,000 organizations, including Ikea, Volvo, Flipkart and Humane, now use Azure OpenAI Service.
The launch of enterprise capabilities of Azure OpenAI and Copilots across Microsoft 365, Dynamics 365 and Power Platform is expected to be a game changer.
In the to-be-reported quarter, Microsoft announced partnering with Meta Platforms to provide customers with more choice and security as they venture into the metaverse. MSFT is bringing Mesh for Microsoft Teams to Meta Quest devices. Mesh for Teams with Meta Quest Pro and Meta Quest 2 devices will enable people to connect and collaborate as though they are together in person.
In addition, Microsoft 365 apps will be available on Meta Quest devices, enabling people to interact with content from their favorite productivity apps, including Word, Excel, PowerPoint, Outlook and SharePoint within VR.
In the to-be-reported quarter, Siemens (SIEGY - Free Report) and Microsoft announced a new strategic partnership to drive cross-industry AI adoption. The companies are introducing Siemens Industrial Copilot, an AI-powered assistant aimed at improving human-machine collaboration in manufacturing.
In addition, the launch of the integration between Siemens Teamcenter software for product lifecycle management and Microsoft Teams will further pave the way to enabling the industrial metaverse. It will simplify the virtual collaboration of design engineers, frontline workers and other teams across business functions.
New Azure AI Studio is becoming the tool of choice for AI development in this new era, helping organizations ground, fine-tune, evaluate and deploy models, and do so responsibly.
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Alaska Air Group, Inc. (ALK - Free Report) reported fourth-quarter 2023 earnings per share (EPS) of 30 cents, which beat the Zacks Consensus Estimate of 18 cents but declined 67.4% year over year.
Operating revenues of $2,553 million missed the Zacks Consensus Estimate of $2,548.1 million. The top line jumped 3% year over year, with passenger revenues accounting for 91.1% of the top line and increasing 3% owing to continued recovery in air-travel demand.
Passenger revenues totaled $2,326 million in the reported quarter. On a year-over-year basis, cargo and other revenues of $62 million grew 7% year over year. Mileage plan other revenues grew 5% to $165 million.
Total revenue per available seat mile (a key measure of unit revenues) fell 9% year over year to 14.95 cents. Yield decreased 7% to 16.43 cents.
Reflecting the uptick in air-travel demand, consolidated traffic (measured in revenue passenger miles) rose 10% to 14.15 billion. To cater to this increased demand, capacity (measured in average seat miles) expanded 14% to 17.07 billion. Consolidated load factor (percentage of seats filled by passengers) decreased 2.6 percentage points to 82.9% in the fourth quarter of 2023. The actual figure for load factor was also lower than our expectation of 87.1%.
In the fourth quarter, total operating expenses (on a reported basis) grew 3% year over year to $2,521 million.
Economic fuel price per gallon fell 4% to $3.42. The actual figure was higher than our estimate of $3.40.
Consolidated operating costs per available seat mile (excluding fuel and special items) fell 7% year over year to 10.40 cents. The actual figure was lower than our estimate of 10.61 cents.
Liquidity
As of Dec 31, 2023, Alaska Air had $1,791 million of cash and marketable securities compared with $2,451 million at the end of September 2023.
ALK exited the fourth quarter of 2023 with long-term debt (net of current portion) of $2,182 million compared with $2,128 million at the end of September 2023. Debt-to-capitalization ratio was 46%.
ALK utilized $53 million of cash in operating activities in the fourth quarter. During the fourth quarter of 2023, ALK repurchased nearly 2 million shares for $75 million.
Outlook
ALK anticipates full-year 2024 adjusted EPS between $3.00 and $5.00. This guidance includes a $150 million negative impact from the grounding of the company's Boeing 737-9 MAX fleet and assumes a gradual return to service of the 737-9 MAX fleet through early February.
Currently, Alaska Air carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) fourth-quarter 2023 earnings of $1.47 per share missed the Zacks Consensus Estimate of $1.74 and declined 23.4% year over year.
JBHT’s total operating revenues of $3,303.70million surpassed the Zacks Consensus Estimate of $3,236.2 million but fell 9.5% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 6% year over year.
Delta Air Lines (DAL - Free Report) has reported fourth-quarter 2023 earnings (excluding $1.88 from non-recurring items) of $1.28 per share, which comfortably beat the Zacks Consensus Estimate of $1.17. Earnings, however, declined 13.51% on a year-over-year basis due to high labor costs.
DAL's revenues of $14,223 million surpassed the Zacks Consensus Estimate of $14,069.5 million and increased 5.87% on a year-over-year basis, driven by strong holiday-air-travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $13,661 million, up 11% year over year.
United Airlines Holdings, Inc. (UAL - Free Report) reported fourth-quarter 2023 earnings per share (excluding 19 cents from non-recurring items) of $2.00, which outpaced the Zacks Consensus Estimate of $1.61 but declined 18.7% year over year.
UAL's operating revenues of $13,626 million beat the Zacks Consensus Estimate of $13,546.8 million. The top line increased 9.9% year over year due to upbeat air-travel demand. This was driven by a 10.9% rise in passenger revenues (accounting for 91.1% of the top line) to $12,421 million. Almost 41,779 passengers traveled on UAL flights in the fourth quarter.
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Netflix’s (NFLX - Free Report) efforts to bolster its content portfolio offerings on the back of its expanding partner base have been a major growth driver.
Its shares have gained 28.8% in the past six months, outperforming the Zacks Consumer Discretionary sector’s growth of 3.3%. The growth can be attributed to its expanding subscriber base, which contributes directly to its subscription revenues, the strength of its content portfolio and partnerships.
The company recently announced a long-term partnership with World Wrestling Entertainment (WWE), which is part of TKO Group Holdings, Inc. (TKO - Free Report) , to bring WWE’s RAW to air exclusively on Netflix every week starting January 2025.
RAW, which airs on Mondays, is the top show on the Comcast-owned USA Network, with 17.5 million unique viewers over the course of the year.
The rights deal that cost over $5 billion will span a period of 10 years. For the time being, RAW will be aired only in the United States, the United Kingdom, Canada and Latin America.
With this partnership, Netflix aims to boost revenues and gain subscribers from the United States and Canada (UCAN) region as well as from the Latin America (LATAM) region. In the fourth quarter, the company gained 2.81 million and 2.35 million paid subscribers from the UCAN and LATAM regions, respectively.
Outside the United States, Netflix will exclusively telecast RAW and WWE’s other weekly shows like SmackDown and NXT, premium live events like WrestleMania, SummerSlam and Royal Rumble as well as documentaries, original series and upcoming projects in the near term.
The RAW deal marks Netflix's first long-term bet on live events that appeal to a loyal, multi-generational base of fans who watch WWE each week. Live sports can become an excellent way for Netflix to retain these viewers who may otherwise have passed on a Netflix membership after its password-sharing crackdown.
Netflix’s Growing Subscriber Base to Fend Off Competition
This Zacks Rank #1 (Strong Buy) company is riding on an expanding subscriber base and a strong portfolio of content, which is expected to drive top-line growth in the near term and fend off competition from its contenders like Amazon (AMZN - Free Report) and Roku (ROKU - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
Recently, Amazon announced a partnership with Diamond Sports Group. Amazon Prime Video will become the primary streaming partner to air the group’s live content. This will give Prime Video users access to content like live MLB, NBA and NHL games, and others.
Roku announced a partnership with Tennis Channel to launch the latter’s second channel, T2, on The Roku Channel, providing free and continuous access to live coverage of top tennis players and signature events for its 100 million strong audience.
Netflix is set to launch a pipeline of sports content on its platform in the near term. These include the episodes of NASCAR: Full Speed (Season 1), Sunderland ‘Til I Die (Season 3), Formula 1: Drive to Survive (Season 6), Full Swing (Season 2), Tour de France: Unchained (Season 2) and more.
At the end of the fourth quarter, Netflix had 260.28 million paid subscribers globally, up 12.8% year over year. For the first quarter of 2024, Netflix expects paid net sub additions to be down sequentially (reflecting seasonality as well as possible pull forward from the strong fourth-quarter 2023 results) but up by 1.8 million year over year.
The Zacks Consensus Estimate for Netflix’s 2024 revenues is pegged at $38.40 billion, indicating growth of 13.9% year over year.
The consensus mark for earnings has increased by 11 cents over the past 30 days to $16.08 per share.
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Apple Now Allows Game Streaming Apps on iOS, Opens Door for Game Pass - News
by William D'Angelo , posted 2 hours ago / 463 ViewsApple announced it has changed its policy that will now allow game streaming apps on iOS devices. This could open the door for Microsoft to make Xbox Game Pass available on iOS via Xbox Cloud Gaming.
"Today, Apple is introducing new options for how apps globally can deliver in-app experiences to users, including streaming games and mini-programs," said Apple. "Developers can now submit a single app with the capability to stream all of the games offered in their catalog."
Apple started blocking streaming apps on iOS in 2020, which prevented Microsoft's Xbox Game Pass and Google's Stadia from releasing on the Appl Store. This was due to Apple saying it could not review every game included on such services.
The company said the reason for the change in policy is that "Apps that host this content are responsible for ensuring all the software included in their app meets Apple’s high standards for user experience and safety."
Another change Apple is making is to "provide enhanced discovery opportunities for streaming games, mini-apps, mini-games, chatbots, and plug-ins that are found within their apps." Mini-apps, mini-games, chatbots, and plug-ins will now "be able to incorporate Apple’s In-App Purchase system."
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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Fortnite to Return to iOS in the EU via New Epic Games Store App - News
by William D'Angelo , posted 2 hours ago / 432 ViewsEpic Games announced Fortnite will be returning to iOS in Europe later this year due to a change in the European Union (EU) law with the Digital Markets Act going into effect in March.
Fortnite will be made available on a new Epic Games Store app that will be coming to iOS.
"Fortnite will return to iOS in Europe in 2024, distributed by the upcoming Epic Games Store for iOS," said Epic Games via Twitter. "Stay tuned for details as we figure out the regulatory timeline. We'll continue to argue to the courts and regulators that Apple is breaking the law."
Fortnite will return to iOS in Europe in 2024, distributed by the upcoming @EpicGames Store for iOS. Stay tuned for details as we figure out the regulatory timeline. We'll continue to argue to the courts and regulators that Apple is breaking the law. https://t.co/MHh6EGVinC
— Epic Games Newsroom (@EpicNewsroom) January 25, 2024
The Digital Markets Act says Apple has to allow developers to offer apps and new stores on iOS without using the App Store, however, Apple has since changed its terms, so it still earns money on non-App Store apps and stores.
The new terms from Apple state that apps downloaded more than one million time per year need to pay €0.50 for every download over a million. That is equal to €500,000 for every million downloads after the first million.
Epic Games founder and CEO Tim Sweeney in a statement on Twitter said, "Apple's plan to thwart Europe's new Digital Markets Act law is a devious new instance of Malicious Compliance.
"They are forcing developers to choose between App Store exclusivity and the store terms, which will be illegal under DMA, or accept a new also-illegal anticompetitive scheme rife with new Junk Fees on downloads and new Apple taxes on payments they don't process.
"Apple proposes that it can choose which stores are allowed to compete with their App Store. They could block Epic from launching the Epic Games Store and distributing Fortnite through it, for example, or block Microsoft, Valve, Good Old Games, or new entrants.
"The Epic Games Store is the #7 software store in the world (behind the 3 console stores, 2 mobile stores, and Steam on PC). We're determined to launch on iOS and Android and enter the competition to become the #1 multi-platform software store, on the foundation of payment competition, 0%-12% fees, and exclusive games like Fortnite.
"Epic has always supported the notion of Apple notarization and malware scanning for apps, but we strongly reject Apple's twisting this process to undermine competition and continue imposing Apple taxes on transactions they're not involved in.
"There's a lot more hot garbage in Apple's announcement. It will take more time to parse both the written and unwritten parts of this new horror show, so stay tuned."
Apple's plan to thwart Europe's new Digital Markets Act law is a devious new instance of Malicious Compliance.
— Tim Sweeney (@TimSweeneyEpic) January 25, 2024
They are forcing developers to choose between App Store exclusivity and the store terms, which will be illegal under DMA, or accept a new also-illegal anticompetitive…
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459743/fortnite-to-return-to-ios-in-the-eu-via-new-epic-games-store-app/
| 2024-01-26T00:35:12Z
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Sofia Vergara has become the latest actress to tackle an on-screen portrayal of Griselda Blanco, the feared matriarch of the cocaine dealers in 1970s Miami. But who is Griselda Blanco – and how did she become one of the most vicious and mythologized kingpins in all of the drug cartel's history?
Griselda was born in 1943 and at the age of three moved to Medellin, Colombia with her mother where she soon began a life of crime; reports allege that by the age of 11 she had already been accused of kidnapping, random and gun violence. She became involved in the drug trade between South America, Miami and New York, and at the age of 21 – with her husband Carlos Trujillo and their three children – she illegally moved to New York City, where she began her own reign, overseeing a drug operation for several years that had pilots flying in mass quantities of the drug directly from Colombia.
She had Carlos killed over a business dispute, and later married Alberto Bravo, her then-business partner, but in 1975 she was indicted on federal drug conspiracy charges and she escaped back to Colombia to avoid conviction, meeting Alberto as she landed back in Medellin where she shot him in the head as she had begun to suspect he was siphoning money from their organization for himself.
By the late 1970s however, Griselda had returned to the United States and set up her business in Miami, where her empire began to expand quickly.
There are few pictures of Griselda outside of her mugshots, but one, taken in what appears to be the early 1980s, shows her as a woman with a bold sense of style who wasn't afraid to stand out, wearing a red fedora and black and white striped dress.
Shows like Miami Vice and movies such as Scarface glorified the city and it's drug-fuelled reputation, but by the early-1980s Griselda was the face of the horrifying truth of the city, as she stood accused of ordering at least 250 killings – including the death of rival dealers to ensure she had a chokehold on the city and the murder of a two-year-old simply to "upset the father"– and she had earned the nickname 'Black Widow' for reportedly killing off husbands (her third husband, Darío Sepúlveda and the father of her youngest son, was killed over a custody dispute).
"Griselda loved killings. Bodies lined the streets of Miami as a result of her feuds. She gathered around her a group of henchmen known as the Pistoleros. Initiation into the group was earned by killing someone and cutting off a body part as proof of the deed. It is said that one of the Pistoleros assassinated a rival by riding up to him on a motorcycle and shooting him point-blank," the Drug Enforcement Agency wrote in 1993 in an internal magazine.
“She not only killed rivals and wayward lovers, but used murder as a means of canceling debts she didn’t want to pay. A particularly bloody massacre that took place in July 1979 in a Miami shopping center became known as the Dadeland Massacre.”
Those in the cartels knew her as La Madrina (the Godmother), and it was reported she had a German Shepherd named Hitler, but although it was said she thrived on her reign of terror, threats against her own life – her three eldest sons had all been murdered – soon saw her moving to California in 1984 where she lived with her son Michael and her mother Anna.
And it was here that after years of searching Drug Enforcement Administration Special Agent Bob Palambo finally caught her.
"Hola, Griselda. We finally meet," he reportedly said before kissing her on the cheek as he handcuffed her, fulfilling a promise he had long made to his colleagues.
“She was pretty tough and standoffish, a typical Colombian move I would say, nonchalant, not really showing any real emotion, but when we put her in the car, I was in the backseat with her, and the other agent was driving. We drove up to Los Angeles, and when we got close to the courthouse is when she became visibly shaken,” Palombo once recalled.
Griselda pled guilty for a 20-year sentence in a low-security prison for female offenders but she continued to run her drug operation from inside, until 1994 when her most trusted advisor Jorge “Rivi” Ayala turned against her.
She struck another deal in 1997, pleading guilty to three second-degree murder charges and due to scandal within the case by 2004 she had been released and deported back to Medellin – where it was expected she would soon be murdered herself by scorned former business partners or rivals.
However, in 2007 pictures emerged of Griselda at an airport, looking a world away from her heyday but safe and sound.
"She has tons of money squirreled away in different bank accounts that were never recovered,” Palambo told Maxim in 2008, "and no one is going out of their way to look for her, because 20 years have passed since she last made any real enemies."
Five years later, however, her actions caught up to her as she was murdered, as she exited a butcher's shop in Medellin with her daughter-in-law, via a drive-by motorcycle shooting… the same style she herself had been credited with introducing to Miami all those decades before.
Griselda is streaming on Netflix now
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https://www.hellomagazine.com/film/512102/inside-the-chilling-life-of-griselda-blanco-black-widow-portrayed-by-sofia-vergara-netflix-show/
| 2024-01-26T00:42:04Z
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Bobby Berk had admitted that there was a "situation" with his former Queer Eye co-star Tan France – but that the two will always be brothers and have since moved on.
It emerged in late 2023 that Bobby was leaving the hit Netflix series, and he then unfollowed Tan on social media. It led to speculation that his departure was due to a feud between the pair, but the interior designer has now insisted that the pair "will be fine".
“I hope this interview will help extinguish some of the speculation,” Bobby told Vanity Fair as the seventh season of the Netflix reality show dropped on the platform. “Tan and I had a moment. There was a situation, and that’s between Tan and I, and it has nothing to do with the show. It was something personal that had been brewing — and nothing romantic, just to clarify that.”
“Should I have unfollowed Tan? No,” he added. “Maybe I should have just muted him. But that day, I was angry, and that’s the end of it. We became like siblings — and siblings are always going to fight.”
Bobby also shared that his departure came because the Fab Five – Bobby, Tan, Antoni Poworski, Karamo Brown and Jonathan Van Ness – had only signed a seven-season contract which came to an end in 2022. He claimed that on their final day of filming the current season in New Orleans they "stood there, and we took pictures and cried".
"We thought we were done. Mentally and emotionally, I thought we all moved on. I know I did, and I started planning other things," he admitted. But due to the WGA and SAG strikes in 2023, Netflix reached out to the five about a new contract as they were in need of new content, and Bobby revealed that he "wasn't willing to change" the plans he had already made when he believed the show was not returning.
"I would have had to pump the brakes on multiple other projects that are already in process. We had mentally just prepared ourselves to move on — that’s why I left."
Queer Eye is a multi-Emmy award winning series that sees the five men help a down-on-their-luck "hero" find self-confidence, improve both their physical and mental health, and turn their life around.
The series has worked with people from Atlanta, Austin, Philadelphia, and New Orleans, as well as specials set in Australia and Japan.
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https://www.hellomagazine.com/film/512103/bobby-berk-breaks-silence-on-feud-with-tan-france-amid-queer-eye-departure/
| 2024-01-26T00:42:10Z
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Exclusive
Military
Ukrainian reconnaissance officer Oleh Babii leads destruction of Russian bombers in 2023. In the summer of 2023, Lieutenant Colonel Oleh Babii infiltrated Russian territory, covering over 600 km on foot to destroy the enemy’s Tu-22M3 aircraft used by the Russian army to strike Ukraine.
Ukrainian, Polish military chiefs discuss training, combat experience exchange. Ukrainian Commander Zaluzhnyi and Polish General Kukuła conferred via call about the frontline situation, associated security risks, and possibilities for enhanced military cooperation.
Russia’s Black Sea port oil refinery engulfed in flames after another drone raid. The attack was Ukraine’s Security Service’s special operation to disrupt Russia’s logistics; the agency promises Russia “many surprises ahead,” according to Suspilne.
Intelligence and technology
Ukraine Air Force: More to be done before Ukraine deploys F-16 fighter jets. International partners are ready to provide Ukraine with F-16 jets, yet Ukraine still continues to prepare infrastructure and train personnel for their deployment, according to Ukraine’s Air Force.
Bellingcat’s investigator uncovers special Russian kill team sabotage plots across Europe. Investigator Christo Grozev pieces together how a Russian intel unit targeted Zelenskyy in 2022, with their commander now planning to replace Prigozhin.
Denmark provides $13.2 million to enhance Ukraine cyber capabilities against Russia. Denmark unveils a $13.2 million cyber defense aid package for Ukraine, providing vital support for Kyiv’s cyber capabilities against Russian attacks in modern war.
International
Media: Ukraine aid deal on rocks after Trump’s comments. The fate of a bipartisan border deal that Senate Republicans demanded to fund Ukraine aid appeared dimmer this week after Senate Minority Leader Mitch McConnell acknowledged to Republicans that Donald Trump’s opposition to the deal has complicated its future, The Washington Post has reported.
Scholz: Berlin, Kyiv close to agreeing on security assurances. German Chancellor Scholz stated that Germany and Ukraine are nearing completion of a security pact designed to provide assurances for Ukraine.
Humanitarian and social impact
Ukraine returns four abducted children from Russian captivity. So far, Ukraine has returned over 500 children illegally deported to Russia amid official estimates of 20,000 minors being forcibly taken in total.
Zelenskyy calls for international probe into Russian military IL-76 crash. Russia accuses Ukraine of shooting down its military transport plane IL-76. It says there were 65 Ukrainian POWs on board.
Political and legal developments
Massive cyber attack hits Ukrainian e-services. On 25 January, cyberattacks targeted Ukrainian e-services, including national gas supplier Naftogaz, postal service Ukrposhta, and the Shliakh border crossing system.
New developments
Reuters: Ukraine to start building four nuclear reactors in 2024. Ukraine expects to start building four new nuclear power reactors in 2023 as the country seeks to compensate for lost energy capacity due to the war with Russia, said Energy Minister German Halushchenko, Reuters has reported.
Read the daily review for Wed 24 Jan 2024 here
As of 25 Jan 2024, the approximate losses of weapons and military equipment of the Russian Armed Forces from the beginning of the invasion to the present day:
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- Personnel: 379610 (+950)
- Tanks: 6257 (+30)
- APV: 11621 (+42)
- Artillery systems: 9067 (+59)
- MLRS: 972 (+1)
- Anti-aircraft systems: 660 (+1)
- Aircraft: 331
- Helicopters: 324
- UAV: 7033 (+35)
- Cruise missiles: 1844 (+2)
- Warships/boats: 23
- Submarines: 1
- Vehicles and fuel tanks: 12044 (+39)
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https://euromaidanpress.com/2024/01/26/russo-ukrainian-war-day-701-ukraine-strikes-russian-black-sea-port-oil-refinery/
| 2024-01-26T01:06:03Z
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SYDNEY – Tens of thousands of people in Australia’s Queensland state were without power on Jan 26 after a tropical cyclone hit overnight, bringing damaging winds and heavy rains.
Tropical cyclone Kirrily, a category two system, made landfall late on Jan 25 along the coast bordering the Great Barrier Reef near the tourist town of Townsville, before being downgraded to a tropical low on Jan 26.
Australia is in the grips of an El Nino weather event, which is typically associated with extreme phenomena such as cyclones, wildfires, droughts and heatwaves.
Ergon Energy spokeswoman Emma Oliveri said around 53,000 customers were without power on Jan 26 due to cyclone Kirrily.
“The bulk of those power outages are in Townsville,” Ms Oliveri told the Australian Broadcasting Corp.
Ms Oliveri said it was too early to say when power would be restored, with “detailed damage assessment” still to be done.
Category two cyclones are three rungs away from the most dangerous and can cause significant damage to trees, caravans, and crops, and break boats from their moorings.
The nation’s weather forecaster said Kirrily would likely bring heavy rain with possible damaging winds to parts of northern Queensland on Jan 26.
“Winds with peak gusts of around 90kmh are possible,” the weather forecaster said on its website.
Kirrily was the second tropical cyclone in the area since December, when cyclone Jasper caused widespread regional damage. REUTERS
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https://www.straitstimes.com/asia/australianz/thousands-of-australians-without-power-in-tropical-cyclone-aftermath
| 2024-01-26T01:39:43Z
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DUBAI - Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by the Iran-backed Houthis, or risk harming business relations with Beijing, four Iranian sources and a diplomat familiar with the matter said.
The discussions about the attacks and trade between China and Iran took place at several recent meetings in Beijing and Teheran, the Iranian sources said, declining to provide details about when they took place or who attended.
"Basically, China says: 'If our interests are harmed in any way, it will impact our business with Teheran. So tell the Houthis to show restraint'," said one Iranian official briefed on the talks, who spoke to Reuters on condition of anonymity.
The attacks, which the Houthis say are in support of Palestinians in Gaza, have raised the cost of shipping and insurance by disrupting a key trade route between Asia and Europe used widely by ships from China.
The Chinese officials, however, did not make any specific comments or threats about how Beijing's trading relationship with Iran could be affected if its interests were damaged by Houthi attacks, the four Iranian sources said.
While China has been Iran's biggest trading partner for the past decade, their trade relationship is lopsided.
Chinese oil refiners, for example, bought over 90 per cent of Iran's crude exports in 2023, according to tanker tracking data from trade analytics firm Kpler, as US sanctions kept many other customers away and Chinese firms profited from heavy discounts.
Iranian oil, though, only accounts for 10 per cent of China's crude imports and Beijing has an array of suppliers that could plug shortfalls from elsewhere.
The Iranian sources said Beijing had made it clear it would be very disappointed with Teheran if any vessels linked to China were hit, or the country's interests were affected in any way.
But while China was important to Iran, Teheran also had proxies in Gaza, Lebanon, Syria and Iraq, besides the Houthis in Yemen, and its regional alliances and priorities played a major role in its decision-making, one of the Iranian insiders said.
Asked for comment about meetings with Iran to discuss the Red Sea attacks, China's ministry of foreign affairs said: "China is a sincere friend of the countries of the Middle East and is committed to promoting regional security and stability and seeking common development and prosperity."
"We firmly support Middle Eastern countries in strengthening their strategic independence and uniting and collaborating to resolve regional security issues," it told Reuters.
Iran's foreign ministry was not immediately available to comment.
Axis of resistance
Military strikes by US and British forces on Houthi targets in Yemen in January have failed to stop attacks on shipping by the group, which controls a large chunk of Yemen, including the capital Sanaa and much of the country's Red Sea coast by the Bab al-Mandab strait.
The Houthis, who first emerged in the 1980s as an armed group in opposition to Saudi Arabia's Sunni religious influence in Yemen, are armed, funded and trained by Iran and are part of its anti-West, anti-Israel "Axis of Resistance".
A senior US official said Washington had asked China to use its leverage with Iran to persuade it to restrain the Houthis, including in conversations Secretary of State Antony Blinken and National Security Advisor Jake Sullivan had in January with senior Chinese Communist Party official Liu Jianchao.
A senior Iranian official said while Chinese officials discussed their concerns thoroughly in the meetings, they never mentioned any requests from Washington.
On Jan 14, China's foreign minister Wang Yi called for an end to attacks on civilian ships in the Red Sea - without naming the Houthis or mentioning Iran - and the maintenance of supply chains and the international trade order.
Mr Victor Gao, chair professor at China's Soochow University, said China, as the world's biggest trading nation, was disproportionately affected by the shipping disruption and restoring stability in the Red Sea was a priority.
But Mr Gao, a former Chinese diplomat and an adviser to oil giant Saudi Aramco, said Beijing would view Israel's treatment of the Palestinians as the root cause of the Red Sea crisis and would not want to publicly ascribe blame to the Houthis.
A US State Department spokesperson declined to comment when asked about bilateral Iran-China discussions on the issue.
A diplomat familiar with the matter said China had been talking to Iran about the issue but it was unclear how seriously Teheran was taking Beijing's advice.
Two officials in the Yemeni government, an enemy of the Houthis, said they were aware that several countries, including China, had sought to influence Iran to rein the Houthis in.
Analysts Mr Gregory Brew of Eurasia Group and Mr Ali Vaez of the International Crisis Group said China had potential leverage over Iran because of its oil purchases and because Iran was hoping to attract more Chinese direct investment in future.
However, both said China had so far been reluctant to use its leverage, for several reasons.
"China prefers to free-ride on the US safeguarding freedom of navigation in the Red Sea by bloodying the Houthis' nose," said Mr Vaez, adding that Beijing was also aware that Iran did not have total control over its Yemeni allies.
Influence not absolute
Houthi spokesman Mohammed Abdulsalam said on Jan 25 that Iran to date had not conveyed any message from China about scaling back attacks.
"They will not inform us of such a request, especially since Iran's stated position is to support Yemen. It condemned the American-British strikes on Yemen, and considered Yemen's position honourable and responsible," he said.
The four Iranian sources said it was unclear whether Iran would take any action following the discussions with Beijing.
The stakes are high for Iran as China is one of the few powers capable of providing the billions of dollars of investment Teheran needs to maintain the capacity of its oil sector and keep its economy afloat.
China's influence was evident in 2023 when it facilitated an agreement between Iran and regional rival Saudi Arabia to end years of hostilities.
Yet while there are robust economic ties between China and Iran, Beijing's influence on Teheran's geopolitical decisions was not absolute, one of the Iranian insiders said.
Some within Iran's ruling establishment have questioned the value of the partnership with Beijing, pointing to relatively low non-oil trade and investment volumes since China and Iran signed a 25-year cooperation agreement in 2021.
Iranian state media says Chinese firms have only invested US$185 million (S$248 million) since then.
State media also said last year that Iranian non-oil exports to China fell 68 per cent in the first five months of 2023 while Iran's imports from China rose 40 per cent.
By contrast, Chinese companies in 2023 committed to invest billions in Saudi Arabia after the countries signed a comprehensive strategic partnership in December 2022.
Two of the Iranian insiders said while China could not be ignored, Teheran had other priorities to consider and its decisions were shaped by a complex interplay of factors.
"Regional alliances and priorities as well as ideological considerations contribute significantly to Tehran's decisions," one of the people said.
The second person said Iran's rulers had to adopt a nuanced strategy when it came to the Gaza war, as well as the Houthi attacks, and that Teheran would not abandon its allies.
Iran's role as leader of its "Axis of Resistance" - which includes the Houthis, Lebanon's Hezbollah, Hamas and militias in Iraq and Syria - had to be balanced against avoiding getting sucked into a regional war over Gaza, the Iranian sources said.
Teheran's messaging to - and about - the Houthis required a measure of deniability about the extent of its control over them - but also an ability to claim some credit for their anti-Israel actions, one of the people said. REUTERS
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https://www.straitstimes.com/asia/china-presses-iran-to-rein-in-houthi-attacks-in-red-sea-sources-say
| 2024-01-26T01:39:53Z
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WELLINGTON - The New Zealand government on Friday withdrew a bill that would have allowed sixteen year olds to vote in local government elections if it had passed.
New Zealand's highest court ruled in late 2022 that the country's current voting age of 18 was discriminatory, forcing parliament to discuss whether it should be lowered.
The previous Labour government last year ruled out the possibility of lowering the voting age to 16 for national elections, but had sought to legislate a lower voting age for local government elections. However, this was not passed into law before they were voted out of office late last year.
Local Government Minister Simeon Brown said he had asked that the bill be withdrawn as it did not have the new National Party-led government's support.
"Worrying about how to implement a new voting age regime would be a costly distraction for councils who have enough issues to deal with right now," he said.
Make it 16, the non-partisan organisation campaigning for the voting age to be lowered, said not letting 16 and 17 year olds have a say in their own rights is a "democratic outrage."
"Democracy is when voters choose their politicians, not when politicians choose their voters," they said in a statement posted on X, formerly known as Twitter. REUTERS
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https://www.straitstimes.com/asia/new-zealand-withdraws-bill-allowing-16-year-olds-to-vote-in-local-body-elections
| 2024-01-26T01:40:04Z
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SINGAPORE - A substantial shareholder of Cordlife Group, Robust Plan, has sold 4.6 million shares on Jan 23, bringing its stake down from 5.47 per cent to 3.67 per cent, the company said in a bourse filing on Jan 25.
With the sale, which netted $1.5 million, Robust Plan and its beneficial owner Shanghai Dunheng Capital Management ceased to be a substantial shareholder of the private cord blood bank.
This move comes after news of serious lapses in Cordlife’s cord-blood storage facilities, with the temperature in one storage tank reaching 20.4 deg C, well above the acceptable limits of minus 150 deg C.
Cord blood units have to be stored at temperatures below minus 150 deg C, or they could thaw and be damaged.
Around 2,200 cord blood units in one of the affected tanks were damaged and rendered unsuitable for stem cell transplants.
Investigations into the viability of cord blood units in the six other tanks are under way, with updates by the Ministry of Health (MOH) due soon.
The ministry has suspended the company for a six-month period from collecting, testing, processing and/or storing new cord blood and human tissues from Dec 15, 2023.
MOH also found other lapses at Cordlife, such as a new cord-blood processing method that was not properly validated, temperature monitoring systems that failed to send notifications when tanks exceeded acceptable levels and preventive maintenance not being carried out for two tanks. The company has until the end of May to rectify the lapses.
Shares of Cordlife closed flat at 30.5 cents on Jan 25, before the latest company announcement.
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https://www.straitstimes.com/business/cordlife-s-substantial-shareholder-dumps-46-million-shares
| 2024-01-26T01:40:14Z
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SINGAPORE - Keppel DC Reit’s distribution per unit (DPU) for the half year ended Dec 31, 2023, dropped 16.1 per cent to 4.332 cents.
This came as its second half distributable income fell 18.5 per cent to $76.4 million on higher finance costs and loss allowances for uncollected rental income from its three Guangdong Data Centres, said the manager on Jan 26.
Finance costs for the period rose 43.5 per cent to $25.8 million, as compared to $18 million a year ago.
Property expenses increased 85.6 per cent to $23.1 million on the year, with $10.5 million included as loss allowance for “doubtful receivables” to account for the uncollected rental income from its China data centre tenant.
Gross revenue for the period slid 0.7 per cent to $140.7 million. Net property income (NPI) dropped 9.1 per cent to $117.6 million in the second half year on lower net contributions from the Singapore colocation assets, led by higher facilities expenses.
For financial year 2023, the Reit’s DPU stood at 9.383 cents, 8.1 per cent lower than the 10.214 cents in FY2022. Distributable income fell 9.3 per cent to S$167.7 million on the year.
NPI slid 3 per cent to $245.0 million for the full year despite a 1.4 per cent rise in gross revenue at $281.2 million. This was attributable to a 46.3 per cent rise in property expenses at $36.3 million.
Units of Keppel DC Reit closed Jan 25 down five cents or 2.7 per cent at $1.80. THE BUSINESS TIMES
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https://www.straitstimes.com/business/keppel-dc-reit-s-h2-dpu-drops-161-on-higher-finance-costs-property-expenses
| 2024-01-26T01:40:25Z
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NEW YORK - Levi Strauss forecast annual sales and profit below Wall Street expectations on Jan 25, and said it would cut 10 per cent to 15 per cent of global corporate jobs as the denim maker seeks to rein in costs amid weakness in its wholesale business.
Levi has about 20,000 workers globally, with roughly 5,000 corporate employees.
Levi attributed the weak forecast to plans to exit its Denizen brand and cut back on off-price sales, as well as weaker foreign currency exchange rates and the final liquidation of its Russia business. The company also missed fourth-quarter revenue estimates.
The fallout of an inventory glut in 2023 and consumers feeling the pinch from inflation are a drag on the company’s wholesale channel and outweighing the gains in its direct-to-consumer (DTC) business.
Levi’s incoming chief executive Michelle Gass said the company’s US wholesale business improved over its last quarter and is expected to show growth in the second half of 2024. However, unpredictable consumer demand meant Levi’s would continue to be conservative in its outlook, she told investors in a post-earnings conference call.
According to chief financial and growth officer Harmit Singh, phasing out the Denizen brand, which is more inexpensive than other Levi products and sells at a lower margin, would allow the company to focus more on expanded product categories, including lighter-weight denim and athletic wear.
Ms Rachel Wolff, an analyst at Insider Intelligence, said: “They want to make (Levi’s) more upscale. It’s a strategic decision as they try to move up-market and appeal to a more premium consumer.”
Mr Singh also told investors that Levi’s is experiencing delays of 10 to 14 days in transit times as a result of continued disruptions to Red Sea shipping. The company has shifted some US shipments to the West Coast, a route that avoids the Red Sea and Suez Canal. REUTERS
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https://www.straitstimes.com/business/levi-strauss-to-cut-jobs-after-projecting-bleak-2024-on-fragile-wholesale-business
| 2024-01-26T01:40:35Z
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WASHINGTON - The United States has pulled further ahead of China in the race for the world’s biggest economy, thanks in part to a vibrant American consumer.
US gross domestic product (GDP) rose 6.3 per cent in nominal terms – that is, unadjusted for inflation – in 2023, outpacing China’s 4.6 per cent gain. While some of the outperformance reflected America’s elevated price increases, the 2023 outturn underscores a broader point: The US economy is emerging from the pandemic period in a better place than China’s.
“It is a striking turn of fortunes,” said Dr Eswar Prasad, who once led the International Monetary Fund’s China team and is now at Cornell University. “The strong performance of the US economy, in tandem with all the short-term and long-term headwinds the Chinese economy is facing, renders it a less obvious proposition that China’s GDP will someday overtake that of the US.”
The economic outperformance is reflected in the respective countries’ stock markets. US shares have hit all-time highs this week, while Chinese equities are mired in a US$6 trillion-plus (S$8 trillion) bear-market rout.
It was not expected to be this way. At the start of 2023, the US was widely tipped to fall into a recession as the Federal Reserve jacked up interest rates to combat an inflation scourge not seen in decades.
China, on the other hand, was expected to experience a rip-roaring recovery as it reopened its economy fully to commerce after strict lockdowns to combat the spread of Covid-19.
That is not what happened. GDP data released on Jan 25 showed the US economy ended the year with a bang, growing 3.3 per cent in real, inflation-adjusted terms in the fourth quarter after expanding 4.9 per cent in the third. Inflation is on its way back down to the Fed’s 2 per cent target, and fears of a recession are fading.
China, by contrast, is struggling under the weight of a years-long real estate bust and its worst streak of deflation in some 25 years. Exports – once a critical pillar of growth – declined in 2023, joblessness among young people has soared and local governments are saddled with too much debt.
While government figures show the economy met the authorities’ annual growth target, by expanding 5.2 per cent in 2023, there are suspicions that this is not a true picture of what is going on.
Mr Josh Lipsky, a former IMF adviser who is now director of the Atlantic Council’s GeoEconomics Centre: “The pandemic covered up a lot of China’s weaknesses that are deep and structural and will last through the decade – depending on their ability to reform.”
Peterson Institute for International Economics president Adam Posen argues that Chinese President Xi Jinping has greatly compounded the country’s underlying economic weaknesses by his arbitrary and authoritarian exercise of power throughout the economy and society, particularly during the pandemic.
That has spooked households and small businesses into hoarding cash, because they just do not know what is coming next. It’s a malady that Mr Posen has called “economic long Covid” – a chronic condition marked by a lack of vitality and extended sluggishness.
The US, meanwhile, has surprised economists with the resiliency of its economy coming out of the pandemic. Some, like Mr Posen, even suspect the country may be on the cusp of a pickup in productivity growth that will allow the economy to grow faster without generating inflation.
However, the final act in the Fed’s campaign to return US inflation to its 2 per cent target has yet to be written. There is still a risk it could keep policy too tight for too long, and precipitate a downturn.
The jobs market is showing signs of weakening at the edges. As a result, MacroPolicy Perspectives founder and former Fed economist Julia Coronado told an American Enterprise Institute webinar on Jan 24 that the risks of a recession are higher now than at the start of 2023, though her base case remains that one will be avoided.
The US has longer-term concerns as well, including a historically high budget deficit.
Still, the story from 2023 is clear.
Mr Lipsky said.: “All the talk of China becoming the world’s largest economy by GDP has been put on the back burner and delayed, if not indefinitely postponed.” BLOOMBERG
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https://www.straitstimes.com/business/us-extends-lead-over-china-in-race-for-world-s-biggest-economy
| 2024-01-26T01:40:45Z
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Shelving of SimplyGo plan: What are other cities doing with public transport payments?
More subsidies available under new Healthier SG Chronic Tier from Feb 1
Singaporeans will be able to access certain common drugs from their Healthier SG GP clinics at prices comparable with those at polyclinics, the Ministry of Health said.
Brunei-S’pore ties marked by kinship, symbiosis, says President Tharman
Group O blood supply at ‘critical levels’, donors urgently needed: Red Cross, HSA
Group O blood stocks can now last fewer than six days instead of the minimum nine-day stockpile.
Thaipusam 2024 drums up cheer and hope for 18,000 devotees
Devotees were undeterred by the festival falling on a weekday, with the organisers describing the turnout as remarkable.
Why the public sector is so wary of gifts and hospitality
The damage to trust and confidence in the public sector would be highly significant if the public interest were to be undermined on account of such favours, says the writer.
From cheongsam to matching sets, where to shop for your Chinese New Year 2024 outfits
‘This is Coldplay week in Singapore’: DPM Wong
More than 50,000 fans braved the stormy weather on Jan 24 for the band’s second show.
Despite progress, long-term reoffending in Malay community still a concern: Shanmugam
In the broader community, Shanmugam noted progress in education and jobs over the years. He was speaking at the first Malay/Muslim Organisation Rehabilitation Network conference.
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https://www.straitstimes.com/singapore/morning-briefing-top-stories-from-the-straits-times-on-jan-26-2024
| 2024-01-26T01:40:56Z
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FLORIDA - Nelly Korda and New Zealand’s Lydia Ko are tied atop the leaderboard after one round of the LPGA Drive On Championship on Thursday in Bradenton, Florida.
Korda and Ko shot six-under 65s at Bradenton Country Club, good for a one-stroke lead over Denmark’s Nanna Koerstz Madsen.
Korda, a Bradenton native, is seeking her first LPGA victory since November 2022, while Ko could win her third straight outing. Ko won last week’s season opener, the Hilton Grand Vacations Tournament of Champions, along with December’s mixed-team exhibition (with Australian Jason Day), the Grant Thornton Invitational.
“Definitely nice to be able to win the first event of the year, especially because you don’t have anything really to reference your round off or your game,” Ko said. “Grant Thornton was only five weeks ago, but that’s a completely different format, and so wasn’t like I was coming in with a ton of like really good momentum.
“But just trying to feed off what was going well last week, and overall I thought I played really solid.”
Ko rolled in six birdies on a bogey-free day, while Korda’s round was more adventurous.
Korda brushed off an opening bogey by birdies on the par-four second and third holes. After another birdie at the par-five sixth, she went eagle-birdie-birdie at Nos. 8-10 to rise to six under.
She described her eagle at the par-five eighth as a “tap-in.”
“I hit my driver really well on this hole. Gosh, I think I had 257 into the pin and hit my three-wood really good. It was helping off the left. Played it nicely off the slope to a tap-in.”
She finished her round with a second bogey and her sixth and final birdie.
“I love every single time I get to play in Florida,” Korda said. “I feel like people come out and support. But it’s better to play literally in your hometown, so definitely felt a lot of the support and it was great.”
Koerstz Madsen made six birdies and a single bogey for her five-under 66.
“It was a good day. I played steady golf,” she said. “Missed a green here and there but made an up and down. My approach was just staying – being a little patient out there because it was a grind. I mean, it was a lot of wind out there, so keep it on the high side of the hole.”
China’s Yin Ruoning, last year’s Women’s PGA Championship winner, opened with a four-under 67, tying for fourth with South Koreans Kim Sei-young and Kang Min-ji and Thailand’s Chanettee Wannasaen. REUTERS
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https://www.straitstimes.com/sport/golf/nelly-korda-lydia-ko-share-lead-at-golf-s-drive-on-championship
| 2024-01-26T01:41:06Z
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MELBOURNE - Novak Djokovic meets Jannik Sinner for a place in the Australian Open final on Jan 26, knowing he stands just two matches away from tennis immortality.
The Serbian superstar, 36, will resume his march towards an 11th title and a record 25th Grand Slam crown in the afternoon session on Rod Laver Arena, again bumped from his favoured evening slot.
In the night match, the spotlight will be on Russian third seed Daniil Medvedev and Germany’s Alexander Zverev, who knocked Spanish superstar Carlos Alcaraz out in the quarter-finals.
Alcaraz’s four-set defeat by sixth seed Zverev has removed the man many considered to be the main threat to Djokovic, who now knows he will hang on to his No. 1 ranking.
But Italy’s Sinner has recent pedigree in matches against Djokovic, beating him in the group stage at the ATP Finals – though Djokovic came out on top in the final – and at the Davis Cup.
Djokovic is determined to keep intact his unbeaten streak at Melbourne Park, which currently stands at 33 matches – stretching back to 2018.
He did not compete at the event in 2022 due to his coronavirus vaccination status.
“I’m aware of the streak that I’m on and the amount of matches that I have won in my career on the Rod Laver Arena,” he said.
“I don’t want to let that go. The longer the streak goes, the more that kind of confidence, also expectations build, but also the willingness to really walk the extra mile.”
Fourth seed Sinner, who has yet to drop a set, is expecting a searching test from the 10-time champion.
“This is what I practise for, to play against the best players in the world,” said the 22-year-old, who is targeting a maiden Grand Slam title.
“Obviously has an incredible record here, so for me it’s a pleasure to play against him, especially in the final stages of the tournament.”
In the other semi-final, Zverev faces a tough battle against Medvedev, who will claim Alcaraz’s world No. 2 spot if he wins the tournament.
The two have met 18 times before but Medvedev has come out on top in five of the past six meetings.
“He’s obviously extremely difficult to play. No question about it,” said Zverev. “He’s one of the best players in the world right now.”
Medvedev is into an eighth major semi-final, but has only won one title – at the 2021 US Open.
He made the final at Melbourne in 2021 and 2022, but succumbed to Djokovic then Rafael Nadal, and has made clear he wants to go the way this time. AFP
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https://www.straitstimes.com/sport/tennis/novak-djokovic-faces-jannik-sinner-hurdle-as-australian-open-final-beckons
| 2024-01-26T01:41:16Z
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Authorities in Belarus, Russia's closest ally, launched an investigation on Thursday into a group of 20 independent analysts and commentators now outside the country and accused of conspiring to seize power and promote extremism.
The investigation follows a series of searches and detentions of people, many of who were once jailed for political dissent against Belarus's long-serving president Alexander Lukashenko.
One human rights group said more than 150 people were affected by the police action.
The United States, which has long imposed sanctions on Belarus alongside the European Union, denounced the latest punitive measures.
Belarus's Investigative Committee said the analysts "took an active part in the development and implementation of the concept of destructive activities aimed at harming national security".
The group includes political commentators and economists as well as officials linked to exiled opposition leader Svyatlana Tsikhanouskaya, beaten by Lukashenko in the 2020 election.
"The regime is trying to push the country into an information bubble," Tsikhanouskaya, who lives in neighbouring Lithuania, wrote on Telegram.
"The wave of repression against analysts and experts is simply revenge against those who honestly assess the situation in Belarus and propose real ways out of the crisis."
The human rights group Viasna (Spring) said on its website that at least 157 people had been subject to detentions and questioning. Most, it said, had been released or charged with minor offences, but some faced charges of abetting extremism.
The U.S. State Department said Washington "condemns the Lukashenko regime's recent raids (and) detentions" and vowed to hold the government responsible "for its harsh internal repression as well as for its ongoing support for Russia's war of aggression against Ukraine."
In power since 1994, Lukashenko staged a new crackdown on dissent after stamping out unprecedented demonstrations against what his opponents say was his rigged re-election in 2020.
Kremlin leader Vladimir Putin backed him in that confrontation and Lukashenko allowed Russia to use its territory as a staging post for its 2022 invasion of Ukraine.
Lukashenko, dependent on Moscow for political and economic support, agreed last year to deploy Russian tactical nuclear weapons in his country on Russia's western border. But he has rejected any notion of committing troops to the war in Ukraine. REUTERS
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https://www.straitstimes.com/world/europe/belarus-investigates-some-20-analysts-over-harming-national-security
| 2024-01-26T01:41:27Z
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THE HAGUE - UN judges on Jan 26 will rule on South Africa's request for emergency measures against Israel, which is accused at the World Court of state-led genocide for its military operation in Gaza.
Jan 26’s ruling at the International Court of Justice (ICJ) will not deal with the core accusation of the case - whether genocide occurred - but will focus on the urgent intervention sought by South Africa.
Among the measures South Africa requested is an immediate halt to Israel's military operation, which has laid waste to much of the enclave and killed more than 25,000 people, according to Gaza health authorities.
Israel has asked the court to reject the case outright. An Israeli government spokesperson on Thursday said they expect the UN's top court to “throw out these spurious and specious charges”.
South Africa argued two weeks ago that Israel's aerial and ground offensive is aimed to bring about “the destruction of the population” of Gaza.
Israel rejects the accusations, saying it respects international law and has a right to defend itself.
Israel launched its war in Gaza after a cross-border rampage on Oct 7 by Hamas militants. Israeli officials said 1,200 people were killed, mostly civilians, and 240 taken hostage.
The 17-judge panel will only decide on whether or not to impose provisional measures and whether there is a plausible risk that Israel's operation violates the 1948 Genocide Convention.
The court will issue its ruling at 1pm (1200 GMT) in a hearing expected to last about an hour.
South Africa has asked it to issue nine emergency measures, which act like a restraining order while the court hears the case in full, which could take years.
Pretoria wants the court to order a halt to Israeli military action in Gaza, allowing in more humanitarian aid and for Israel to investigate and prosecute possible violations.
The court is not bound to follow South Africa's requests and could order its own measures if it finds it has jurisdiction at this stage of the case. REUTERS
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https://www.straitstimes.com/world/europe/world-court-to-rule-on-urgent-measures-in-gaza-genocide-case
| 2024-01-26T01:41:37Z
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NEW YORK - The volume of commercial traffic passing through the Suez Canal has fallen more than 40 per cent in the last two months after attacks by Yemen’s Houthi rebels, according to the United Nations, raising concerns for global trade.
The Iran-backed Houthis say they are targeting what they consider Israeli-linked commercial and military shipping in the region in solidarity with Palestinians in Gaza, pushing some cargo carriers to take longer and more expensive routes to avoid attack.
“We are very concerned that the attacks on Red Sea shipping are adding tensions to global trade, exacerbating (existing) trade disruptions due to geopolitics and climate change,” UN Conference on Trade and Development (UNCTAD) head Jan Hoffman told reporters on Jan 25.
According to the UNCTAD, ships diverting from the Red Sea – sailing instead around South Africa’s Cape of Good Hope – has led to a 42 per cent drop in transit through the Suez Canal in the last two months.
The Suez Canal, in Egypt, connects the Mediterranean Sea with the Red Sea.
More than 80 per cent of the volume of international goods trade is done via sea, Mr Hoffman said.
“Maritime transport is really the lifeline of global trade,” he said.
The number of weekly container ship transits through the Suez has fallen by 67 per cent year-on-year, according to the UNCTAD, as more than 20 per cent of the world’s container trade goes through the Suez Canal.
“Given that it’s above all the larger container ships that divert from the Suez Canal, the decline in container carrying capacity is even bigger,” Mr Hoffman said.
Tanker traffic has dropped 18 per cent, the transit of bulk cargo ships carrying grain and coal is down six per cent and gas transport is at a standstill.
Overall, between 12 and 15 per cent of world trade – 20,000 ships per year – passes through the Red Sea, providing a link between Europe and Asia.
The situation is made even more dire as other global maritime trade routes also face disruption, with transit through the Black Sea severely restricted since Russia’s invasion of Ukraine two years ago, sending global food prices soaring.
And a drought in Central America has led to a drop in water levels in the Panama Canal, significantly reducing the amount of traffic able to cross the essential route.
“Prolonged disruptions in major trade routes would disrupt global supply chains, leading to delayed deliveries of goods, increased costs and potential inflation,” the UNCTAD warned. AFP
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https://www.straitstimes.com/world/middle-east/42-per-cent-drop-in-suez-traffic-following-houthi-attacks-un
| 2024-01-26T01:41:48Z
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GAZA/DOHA/JERUSALEM - An Israeli strike on Gaza City killed 20 Palestinians and wounded 150 who were queuing for food aid on Jan 25, Gaza’s Hamas-run health ministry said, in what a Palestinian coalition called a “war crime.”
The Israeli military said it was looking into the report.
The National and Islamic Forces Follow-up Committee, a coalition of militant and political groups, said Israeli forces targeted the civilians waiting for relief aid.
Dozens were killed and injured in a “war crime and genocide,” the group said in a statement.
Also in central Gaza, Palestinian health officials said an Israeli air strike at nightfall on a house in Al-Nusseirat refugee camp killed six people.
In the south of the enclave, Israeli tanks battered areas around two hospitals in Gaza’s main southern city Khan Younis, forcing displaced people into a new desperate scramble for safety, residents said.
Meanwhile, in the north, a World Health Organisation official described the food situation as “absolutely horrific” and humanitarian workers said rare deliveries of aid were mobbed by desperate people who were visibly starving with sunken eyes.
Most of the Gaza Strip’s 2.3 million population is now squeezed into Khan Younis and towns just north and south of it, after being driven out of Gaza’s northern half earlier in Israel’s military campaign, now in its fourth month.
Gaza health officials said at least 50 Palestinians had been killed in the past 24 hours in Khan Younis, where Israel has shifted full-blown military operations after starting to pull forces out of northern areas it says it now largely controls.
“There’s no safe area, where shall we go? Stop the war, it is enough,’ a Palestinian woman said in Rafah, on Gaza’s southern edge.
In its latest update, the Israeli military said forces in Khan Younis were fighting militants at close quarters and were using precision air strikes and snipers to take out multiple Hamas targets.
Palestinian medics said Israeli tanks had cut off and were shelling targets around the city’s two main still-functioning hospitals, Nasser and Al-Amal, trapping medical teams, patients and displaced people huddled inside or nearby.
Israel says Hamas militants use hospital premises as cover for bases, something the Islamist group and medical staff deny.
Two US officials told Reuters that the US has created a channel with Israel to discuss concerns over civilian casualties of the Israeli military in Gaza.
Through the channel, which has been active for the last few weeks, Washington raises with the Israelis “every specific incident of concern”, a US official said. The Israelis investigate and provide feedback to the Americans.
Civilians flee
On Jan 25, thousands of homeless people sheltering in Khan Younis sought to flee to Rafah, 15km away, the UN relief agency for Palestinians (UNRWA) said.
Israeli tank forces ordered more than 30,000 civilians inside a UN centre in Khan Younis to leave, UN officials said. The compound was hit by shelling on Jan 24, when 13 were killed and 56 injured, they added.
There was no immediate comment from the Israeli military.
Video posted on X by Mr Philippe Lazzarini, head of UNRWA, showed a crowd of people walking en masse on Jan 25 on a dirt road.
“A sea of people forced to flee Khan Younis, ending up at the border with Egypt. A never ending search for safety that #Gaza is no longer able to give”, Mr Lazzarini wrote.
The International Committee of the Red Cross said less than 20 per cent of the narrow enclave - around 60sq km - now harboured over 1.5 million homeless people in the south, where the escalation of fighting “threatens their survival”.
Some 25,900 Palestinians have been killed by Israeli strikes in Gaza, Palestinian health officials say, with large tracts of the heavily built-up enclave flattened by bombing.
Israel unleashed its war to eradicate Hamas after militants stormed through the border fence in a shock incursion into nearby Israeli towns and bases on Oct 7, killing 1,200 people and seizing around 240 hostages, according to Israeli figures.
The Israeli military has said it has killed more than 9,000 Gaza militants and lost 220 soldiers in the 3-1/2-month-old war. Hamas has dismissed Israel’s figures on militant deaths.
Ahead of a ruling by UN judges on Jan 26 on South Africa’s request for an immediate halt to Israel’s military operation in Gaza, which it has accused of state-led genocide, Hamas said it would abide by any ruling for a ceasefire if Israel reciprocates.
Israel has asked the International Court of Justice in The Hague to reject the case outright. An Israeli government spokesperson on Jan 25 said they expect the UN’s top court to “throw out these spurious and specious charges”.
‘Humanitarian pause’ talks snagged
Urgent international appeals for a ceasefire to spare civilians who have borne the brunt of casualties have fallen on deaf ears, with Israel vowing not to relent until Hamas has been eradicated and all hostages freed.
Hamas says any deal must hinge on Israel ending its offensive and siege and withdrawing from the Gaza Strip.
Mediated talks on a month-long truce that could see hostages freed in swaps for Palestinian prisoners in Israel have resumed, but have snagged on the two sides’ differences over how to bring an end to the war, sources told Reuters.
The directors of Israel’s Mossad intelligence service and the US Central Intelligence Agency will meet Qatar’s prime minister in Europe this weekend to discuss a ceasefire in the Gaza Strip and release of hostages, an official briefed on the meeting told Reuters on Jan 25.
Gaza’s conflict threatens to destabilise the Middle East, stoking hostilities ranging from the Israeli-occupied West Bank to the Israel-Lebanon border region, Syria, Iraq and Red Sea shipping lanes crucial to international trade. REUTERS
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https://www.straitstimes.com/world/middle-east/gaza-health-ministry-says-20-palestinians-killed-in-strike-on-food-aid-queue
| 2024-01-26T01:41:58Z
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WASHINGTON – Governments do not have a great track record of keeping up with emerging technology. But the complex, rapidly evolving field of artificial intelligence raises legal, national security and civil rights concerns that can’t be ignored.
The European Union has reached a tentative deal on a sweeping law that would put guardrails on the technology; in China, no company can produce an AI service without proper approvals. The US is still working on its regulatory approach.
While Congress considers legislation, some American cities and states have already passed laws limiting use of AI in areas such as police investigations and hiring, and President Joe Biden directed government agencies to vet future AI products for potential national or economic security risks.
1. Why does AI need regulating?
Already at work in products as diverse as toothbrushes and drones, systems based on AI have the potential to revolutionise industries from health care to logistics. But replacing human judgment with machine learning carries risks.
Even if the ultimate worry – fast-learning AI systems going rogue and trying to destroy humanity – remains in the realm of fiction, there already are concerns that bots doing the work of people can spread misinformation, amplify bias, corrupt the integrity of tests and violate people’s privacy.
Reliance on facial recognition technology, which uses AI, has already led to people being falsely accused of crimes. A fake AI photo of an explosion near the Pentagon spread on social media, briefly pushing US stocks lower.
Alphabet’s Google, Microsoft, IBM and OpenAI have encouraged lawmakers to implement federal oversight of AI, which they say is necessary to guarantee safety.
2. What’s been done in the US?
Mr Biden’s executive order on AI sets standards on security and privacy protections and builds on voluntary commitments adopted by more than a dozen companies. Members of Congress have shown intense interest in passing laws on AI, which would be more enforceable than the White House effort, but an overriding strategy has yet to emerge.
Two key senators said they would welcome legislation that establishes a licensing process for sophisticated AI models, an independent federal office to oversee AI, and liability for companies for violating privacy and civil rights.
Among more narrowly targeted bills proposed so far, one would prohibit the US government from using an automated system to launch a nuclear weapon without human input; another would require that AI-generated images in political ads be clearly labeled.
At least 25 US states considered AI-related legislation in 2023, and 15 passed laws or resolutions, according to the National Conference of State Legislatures. Proposed legislation sought to limit use of AI in employment and insurance decisions, health care, ballot-counting and facial recognition in public settings, among other objectives.
3. What has the EU done?
The EU reached a preliminary deal in December on what is poised to become the most comprehensive regulation of AI in the Western world. It would set safeguards on uses of AI seen as most potentially manipulative of the public, such as live scanning of faces.
Developers of general purpose AI models would be required to report a detailed summary of the data used to train their models, according to an EU document seen by Bloomberg. Highly capable models, such as OpenAI’s GPT-4, would be subject to additional rules, including reporting their energy consumption and setting up protections from hackers.
The draft legislation still needs to be formally approved by EU member states and the EU Parliament. Companies that violate the rules would face fines of up to €35 million ($37.7 million) or 7 per cent of global revenue, depending on the infringement and size of the company.
4. What has China done?
A set of 24 government-issued guidelines took effect on Aug 15, targeting generative AI services, such as ChatGPT, that create images, videos, text and other content. Under those guidelines, AI-generated content must be properly labeled and respect rules on data privacy and intellectual property.
A separate set of rules governing the AI-aided algorithms used by technology companies to recommend videos and other content took effect in 2022.
5. What do the companies say?
Leading technology companies including Amazon.com, Alphabet, IBM and Salesforce pledged to follow the Biden administration’s voluntary transparency and security standards, including putting new AI products through internal and external tests before their release.
In September, Congress summoned tech tycoons including Elon Musk and Bill Gates to advise on its efforts to create a regulatory regime.
One concern for companies is the degree to which US rules could apply to the developers of AI products, not just to users of them. That mirrors a debate in Europe, where Microsoft, in a position paper, contended that it’s crucial to focus on the actual use cases of AI, because companies can’t “anticipate the full range of deployment scenarios and their associated risks.”
6. Why is the US effort in focus?
Since American tech companies and specialized American-made microchips are at the forefront of AI innovation, US leaders wield particular sway over how the field is overseen.
Many of the participants in the Senate meetings stressed that the US should play a leading role in the shaping of global governance of AI, and some referenced China’s advancements in the field as a specific concern.
Critics have raised concern about the potential for tech executives to have too much influence over legislation, creating a form of regulatory capture that could enhance the power of a few large companies and hamper efforts by so-called open-source organizations to build competing AI platforms. BLOOMBERG
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https://www.straitstimes.com/world/regulate-ai-how-us-eu-and-china-are-going-about-it
| 2024-01-26T01:42:08Z
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SAN FRANCISCO - Meta on Jan 25 began blocking messages from strangers sent directly to young teens using Instagram or Messenger.
By default, teens younger than 16 years old can now only be messaged or added to group chats by people they already follow or are connected to, according to the post.
Changing the setting will require approval through “parental supervision tools” built into the apps, the tech company said in a blog post.
Meta added that it is working on a way to prevent teens from seeing unwanted or potentially inappropriate images in all direct messages.
“We’ll have more to share on this feature, which will also work in encrypted chats, later this year,” Meta said.
Meta in early January tightened content restrictions for teens on Instagram and Facebook as it faced increased scrutiny over how its platforms are harmful for young people.
This type of content would include content that discusses suicide or self-harm, as well as nudity or mentions of restricted goods, the company added.
Restricted goods on Instagram include tobacco products and weapons as well as alcohol, contraception, cosmetic procedures, and weight loss programmes, according to its website.
In addition, teens will now be defaulted into the most restricted settings on Instagram and Facebook, a policy that was in place for new users and that now will be expanded to existing ones.
The changes come months after dozens of US states accused Meta of damaging the mental health of children and teens, and misleading users about the safety of its platforms.
Leaked internal research from Meta, including by the Wall Street Journal and whistle-blower Frances Haugen, has shown that the company was long aware of dangers its platforms have on the mental health for young people.
On the platforms, teens are defined as being under eighteen, based on the date of birth they give when signing up. AFP
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https://www.straitstimes.com/world/united-states/meta-beefs-up-teen-defences-at-instagram-and-messenger
| 2024-01-26T01:42:19Z
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COLUMBUS — Ohio Governor Mike DeWine and Ohio Department of Developmental Disabilities (DODD) Director Kim Hauck announced last week that $14.9 million in American Rescue Plan Act (ARPA) money will be distributed across 67 counties to better support Ohioans with developmental disabilities and their families.
Preble County DD will receive $165,000.
“These investments are truly going to make a difference for people with developmental disabilities and their families by giving them more access to the communities where they live,” said Governor DeWine. “People with developmental disabilities deserve opportunities, a reliable workforce, and an accessible state to live, learn, work, and succeed in.”
These funds are part of $56 million in total ARPA Home and Community Based Services money allocated to DODD in the state budget signed this past July. All county boards of developmental disabilities and Councils of Government (COG) could apply for funding.
With these funds, people with developmental disabilities, their families, and Ohio communities will see investments in things like universal changing tables and accessible public places and parks. Highlights of the county projects include:
Empowering people with developmental disabilities to live and engage independently, 32 applications received for $2.5 million;
Improving infrastructure to make communities more accessible, 43 applications received for $7 million;
Adding universal changing tables in public places, 49 applications received for $4.4 million;
Creating more community experiences for people with developmental disabilities, 27 applications received for $600,000;
Ensuring conferences and meetings are inclusive, 17 applications received for $220,000; and
Increasing outreach efforts to unserved and underserved populations, 15 applications received for $140,000.
DODD Director Kim Hauck added, “For many people with disabilities and their families, an inclusive community starts with an accessible community, and I want to thank county boards and their local partners across Ohio who have identified ways to make this a reality for them.”
Kim Boulter and Jennifer Cunningham, leaders of Changes Spaces Ohio, an advocacy group dedicated to adding universal changing tables in public spaces are celebrating this announcement as the largest investment by any state for universal changing tables. “Our campaign began with our sons, Matthew and Aiden, and quickly spread through the developmental disability community and beyond. We have advocated for many years, spreading awareness and resources and we are so thankful that Director Hauck, Governor DeWine, and the Ohio General Assembly heard us and grasped the mission so that real change can occur in Ohio.”
These funds build on the $1.5 billion investment in Ohio’s DD system from the DeWine-Husted state budget and $210 million in ARPA Home and Community Based Services money already distributed to providers. Another $42 million in ARPA money will also be available to better support people with disabilities and their families, the developmental disability workforce, youth with complex needs, transformative technology, the waiver redesign initiative, and more.
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https://www.registerherald.com/2024/01/23/14-9-million-to-go-to-67-counties-to-support-ohioans-with-developmental-disabilities/
| 2024-01-26T01:47:30Z
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BROOKVILLE — Brookville basketball coach Jeff Davidson was doused in water by his players Friday moments after Brookville rallied from 14 down in the first half to outscore Eaton 17-3 in the final 3:10 to win 59-50 as Davidson earned his 200th career victory.
The win lifted the Blue Devils to a record of 9-5 on the season and Eaton dropped to 7-7 on the campaign.
The final quarter was frantic. Brookville led 40-38 when Eaton went on a 9-1 run to lead 47-41 with 3:30 left in the game.
Brookville would call a time out and the game totally changed as Brookville went on a 17-1 run to seal the win. Eaton would score a basket with just over ten seconds left to end the game with the scoreboard reading 59-50 Brookville.
During the run Jace Wood made two free throws and Dom King scored on a layup.
Two steals by Cole Crabtree were key to Brookville securing the win. Crabtree stole the ball and grabbed a rebound after he missed the shot and scored a layup to tie the game at 47 with two minutes remaining.
Crabtree again stole the ball and was fouled. The senior hit both free throws and with 1:45 left the Blue Devils led 49-47.
“He has been incredible the last or four games,” Davidson said about Crabtree. “I always know what I am going to get from Cole in terms of effort and being a team player. He is still kind of a defensive guy. We always put him on the other team’s best player. He has really risen to the challenge here and he has produced on the other end too, so I am super happy for him. He does all the little things the best that he can and he does things the right way. It’s nice to see kids like that get rewarded.”
Wood scored on a fast break, and Aaron Rogers of Eaton made a free throw. The score was now 51-48 with 1:08 left.
Brookville missed a pair of charity tries but Eaton was called for a technical foul for a elbow to the face of a Brookville player.
Crabtree went to the line to shoot the technical free throws and hit both shots. Brookville’s Dom King made a free throw on the ensuing possession. It was now 54-48 Brookville with 46.4 seconds left in the game.
Brookville then made five free throws to complete the amazing comeback.
When asked how it felt to earn his 200th win, Davidson was modest and credited his players for their comeback.
“It feels good, but I am happier for my players for the way they came back like they did,” Davidson said. “It proves that resiliency and togetherness can lead to great things. The 200th win is great and all, but it is about the players. That 200th win is a credit to a lot of great coaches that have work alongside of me and great players.
“These guys had their backs against the wall tonight,” Davidson added. “The same thing happened to us against Valley View when we were down nine at the half and we just kind of flipped the script and won it in the second half like we did tonight. I’m just super happy for our players.”
Brookville got behind early as Eaton dominated the first quarter leading 20-6 before a Blue Devil free throw came as the quarter ended. It was 20-7 Eagles after one period of play.
Ramy Ahmed drained a pair of three-pointers and hit another basket for eight points to lead all scorers in the period. Connor Bach added four for the Eagles.
Brookville got a trifecta from Cole Crabtree and an old fashioned three-point play, a basket and a free throw, by Brendan Fisher.
The Blue Devils slowly worked their way back into the game in the second period outscoring Eaton 18-14 in the stanza. The halftime score was 34-25 Eagles. Ahmed and Preston Orr each scored five points for the Eagles. Crabtree had six and King five for Brookville.
The third quarter was a defensive struggle as both teams had trouble scoring. Brookville scored the final six points of the period to tie the game at 36 heading into the final eight minutes. Crabtree had five points in the period and Ahmed scored the only basket for the Eagles.
Brookville shot 39 percent on the game making 16 of 41 tries including 5-18 behind the arc. Brookville was 22-29 from the foul line as they were the aggressor during the game. Eaton was 5-9 during the game from the foul line. Brookville amassed 14 steals, had 12 assists, and snagged 16 rebounds.
Scoring for Eaton shows Ahmed with 17 points. Connor Bach and Aaron Rogers each added nine points. Preston Orr scored seven.
Brookville stats show Cole Crabtree with 22 points, four rebounds, and five steals. Brendan Fisher had 11 points and five steals’ Dom King added 11 markers and four assists. Jace Wood tallied ten points, grabbed five rebounds, had three assists, and two steals.
Keegan Mehr had three points, four assists, and four blocked shots. Braedan Smart and Nathan Waggoner each scored one point.
All 200 of Davidson’s wins have come as Brookville’s head coach. His first win came against Eaton in December of 2006; Number 50 came against Carlisle on January 31, 2012; Number 100 against Oakwood on Dec. 22, 2016; and number 150 against Greenon on Feb. 22, 2019 in the tournament at Northmont.
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https://www.registerherald.com/2024/01/23/devils-win-over-eaton-a-milestone/
| 2024-01-26T01:47:37Z
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EATON — On Saturday, Jan. 6, Eaton MVCTC FFA hosted its Annual Feed, Seed & More Auction.
This auction is the chapter’s largest fundraiser of the year providing students with opportunities to attend conventions, leadership conferences, career development events, and so much more.
This year the Eaton MVCTC FFA established the Blue Jacket Drive to host annually in conjunction with their auction. The Blue Jacket Drive provides funding to purchase FFA jackets for members to sign-out of the chapter’s closet so no member misses an opportunity to participate. This year they will be able to purchase nearly a dozen FFA jackets thanks to Quality Tile and various anonymous donors.
Thank you to all who attended and made this event possible to support the members of Eaton MVCTC FFA.
The chapter would like to thank the following for sponsoring and donating items: Preble County Farm Bureau, Deaton Soil Services, ACE Hardware, Bane-Welker, Gillman Home Center, Tractor Supply Co., Eaton Hometowne Furniture, Eaton Floral, Bombshell Tanning, Preble Edge Fitness, Skyline Chili, Powerhouse Pizza, Nutrien Ag Solutions – John Barnes, Worley’s Country Store, Atlas Charcuterie, Superior Ag Solutions – Chris Petelle, First Impression Wear, Stewart Seeds – Aaron Harvey, Barne’s Butcher Shop, AgriGold Seeds – Steven Sullender, Rowe Nutrition, Farm Credit Mid-America, Simon Insurance, Megan Roell Photography, Channel Seed – Donald Hayes, Seed Consultants – Tim Rodefer, and Katelyn Ranae Photography.
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https://www.registerherald.com/2024/01/23/eaton-mvctc-ffa-hosts-annual-feed-seed-more-auction/
| 2024-01-26T01:47:43Z
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EATON — The man convicted for causing the September death of a New Paris resident was sentenced on Wednesday, Jan. 17, to serve three years in prison.
On Jan. 2, Anthony Wayne Luker, 24, entered a plea to one count “reckless homicide” in the Preble County Common Pleas Court.
According to Preble County Prosecuting Attorney Marty Votel, the charge is a felony of the third degree punishable by up to three years in prison and a fine of up to $10,000.
Last Wednesday, Luker was sentenced in PC Common Pleas Court to the maximum three years in the custody of the Ohio Department of Rehabilitation and Correction.
The charge stemmed from a house fire occurring on Sept. 7, 2023, at 6599 Ohio 121 West in New Paris. The Preble County Sheriff’s Office responded to the residence in response to a 9-1-1 call and discovered a single-wide house trailer engulfed in flames.
After the fire was extinguished, the body of resident Kenneth Doolin, 57, was discovered inside the rear door to the trailer.
Interviews with witnesses confirmed Luker had been at the property most of that day, apparently at the invitation of Mr. Doolin, according to Votel. Sometime shortly before the fire was reported, neighbors heard fireworks and a vehicle speeding away from the home. Subsequent investigation confirmed Luker had been the motorist leaving the home shortly before the fire was reported.
“Mr. Luker was arrested and admitted to breaking the stems off of ‘bottle rockets,’ lighting the fireworks, and then watching them spin out of control,” Votel said in a press release.
The Ohio State Fire Marshall’s report confirms the fire began on the enclosed front porch area and was caused by the fireworks. No gasoline or other fire accelerants were detected in the samples retrieved near the point of the fire’s origin.
“This case is a sad reminder that the reckless use of fire and/or fireworks in close proximity to wooden structures, such as homes and sheds, is extremely dangerous and can easily result in the tragic and senseless loss of human life,” Votel said. “The maximum sentence was appropriate. Although the harm done in this case can never be undone, it is the community’s hope that this conviction and sentence might bring the Doolin family a small measure of solace and closure.”
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https://www.registerherald.com/2024/01/23/luker-to-serve-3-years-for-reckless-homicide/
| 2024-01-26T01:47:49Z
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NEW PARIS — Students named to the National Trail High School Superintendent’s Honor Roll for the second quarter included:
9th Grade: Maya Palmer, Claire Osswald, Kyle Laird, Jenna Deaton, Chloe Graves, James Morgan, Scarlett Rutan, Molli Deaton, Madisyn Mann, Elika Mirable, Gabriella Jordan, Luke Bowers, Rowan McMillan, Corban Manlove and Aaron Nugent.
10th Grade: Morgan House, Kellen Laird, Madelyn Ditmer, Drew Rogers, Grace Osswald, Tayten Reynolds, Raegen Holland, Braydan Lee, Ava Spalding, Avery Lanman, Kenton Johnson, Liam Conway, Evie Hoffman, Hunter Ruebush, Chase Wills and Jaylin Hurd.
11th Grade: Miranda Kathryn Ott, Dillon Graves, Luke Pool, Isabella Anderson, Ethan Kosier, Miles Rogers ,Kylee Vaugn, Jordyn Curtsinger, Breanna Melling, Trinity Rothwell, Jace Hoblit, Megan Irvn and Aidan Koehl.
12th Grade: Aidan Pearson, Aaliyah Rehmert, Eleanor Hake, Blake Osswald, Thelma Weldy, Madelyn Fischer, Addison Sparks, Draken Utley, Evan Porter, Kynzie Everman and Jaleah Coffey.
Students named to National Trail’s 2nd Quarter Principal’s Honor Roll included:
9th Grade: Macie Canan, Nevaeh Standifer, Westin Marker, Olivia Day, Brooklyn Cheek, Ella Porter, Lillian Cordle, Evan Gierzak and Daniel Osswald.
10th Grade: Jailynn Leeann, Kylie Schul, Braylon Coffey, Coltin Huffman, Luke Vernon, Jacob Farno, Haydn Davies, Tayden Blevins, Kori Snyder and Molly Ann Hall.
11th Grade: Grant Deaton, Kaitlyln Schweizer, Jaxson Thacker, Nicholas Brubaker, Joshua Osswald, Hannah Henderson, Zachary Lawson, Kyleigh Ray and Aaron Wilson.
12th Grade: Hannah Holsapple, Samantha Casteel, Jamison Watts, Hayden Toothman, Cadence Hammond, Chase Ruebush, Jonathon Wilson and Cooper Lee.
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https://www.registerherald.com/2024/01/23/national-trail-high-school-superintendents-principals-lists/
| 2024-01-26T01:47:56Z
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NEW PARIS — National Trail students named to the MVCTC 2nd Quarter Superintendent’s Honor Roll included:
12th Grade: Ashlyn Hoover, Bryce Thompson, Madison Palmer, Abby Anderson, Miya Ditmer, Joseph Garden, Nicholas Berry, Alyssa Ibarra.
11th Grade: Lyla Fudge, Nathaniel Tirey, Ashley Green.
National Trail students named to the MVCTC 2nd Quarter Principal’s Honor Roll included:
11th Grade: Taryn Rucci, Jameson Armstrong, Josie Stiner, Aubriana Wilson, Macyn Patton.
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https://www.registerherald.com/2024/01/23/nt-mvctc-student-honor-roll/
| 2024-01-26T01:48:02Z
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Wednesday, Jan. 17
George Warren Parkinson, 28, Eaton, insurance representative and Brianna Lee Campbell, 24, Eaton, insurance verification.
Friday, Jan. 19
Nicholas William Herb Justice, 30, Bellbrook, sales and Rebecca Kaylee Staats, 34, Lewisburg, engineer.
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https://www.registerherald.com/2024/01/23/preble-county-probate-courtmarriage-license-report-9/
| 2024-01-26T01:48:08Z
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Winter is showing its face now and we can all see and feel it with the snow and the cold temperatures. Even though winter can be a beautiful thing, it’s also a time of the year that a lot of us experience the “winter blues.” We don’t have as much sunlight, we stay inside more often, and are not as active. It’s easy to start feeling down or even depressed. But the senior center has some ways you can beat these winter blues – we offer a wide variety of activities, including Silver Sneakers, PiYo Fusion, Drums Alive, and dancing that can keep you active. If physical activity isn’t what you are seeking, we have other programs such as billiards, quilting/sewing, painting, creating, bingo, music, food, and birthday parties; all of which encourage you to be social, which can help ease those blues and make you feel better. One thing to remember is that you aren’t alone in feeling down. Someone else is feeling that way too right now. If it is more of a concern for you, we do urge you to talk with your healthcare provider.
Winter blues are also known as Seasonal Affective Disorder (SAD) or Seasonal Depression.
What are some signs of winter blues? According to the Mayo Clinic, signs can include but are not limited to the following:
• Feeling listless, sad, or down most of the day, nearly every day
• Losing interest in activities you once enjoyed
• Having low energy and feeling sluggish
• Having problems with sleeping too much
• Experiencing carbohydrate cravings, overeating and weight gain
• Having difficulty concentrating
• Feeling hopeless, worthless, or guilty
• Having thoughts of not wanting to live
If you feel you have any of these symptoms, do not hesitate to talk to your healthcare provider. Sometimes it helps just talking to another person and if that is something you like to do, we do have a companionship program here at PCCOA and we are currently looking for volunteers to call and/or visit shut-in seniors and folks who’d like to have a companion to call and/or visit them in person. We also have twice a month, a group of veterans, which Jake Dailey leads, which come in, has lunch together and socializes, every 1st and 3rd Wednesday of each month from 11am to 1pm. If that is something you would like to be a part of, come on in, they’d love to have you! Another way to help your winter blues could be taking some extra vitamin D (please talk with your doctor before adding this to your daily routine) and spending time outdoors when the weather is good. Maybe going to a greenhouse, like Stockslagers during these months can help, with all the plants and the light that comes through, its sure to make you feel better.
We are looking to add a Grief Support group and will be announcing soon what day and time this will be taking place each month. The support group is designed to help you process your grief in a healthy way with a Certified Holistic Health Practitioner, Kelly McCarty. More information to come soon.
Feeling overwhelmed with being the main caregiver for your grandchildren? We have a support group for that too. Please give us a call for the day and time at which that happens each month.
Here are some ways to help prevent these winter blues: Get out of the house — even if you just step outside for 5 minutes, that’s 5 minutes more of the sun and fresh air you received than just staying inside; eat nutritious food — we know and understand that those sugary treats and high carb foods tastes good and make us feel better at the time but in the long run, it hurts us more than helps us; exercise — make sure you stay moving, just walking around your house helps, if you are watching TV, get up at the commercials and do a lap from one room to another, or do some exercises while you’re watching TV, it’s amazing just moving your arms and legs can do for you; talk or see your friends — meet here at the senior center for lunch or an activity; and find help/consider medication — talk with a professional and/or your doctor for more information on this.
The best thing to remember is to be positive, sometimes just changing our mindset can affect our entire day. Yes, it is cold outside, but let’s focus on the good things that you have in your life. For the one negative feeling you’re having, replace that with three positive feelings or positive things in your life, trust me, it will make you feel better. Just try it and see what it does for you.
We’d love to see you come on down to the Senior Center for some fun, food, and socialization. It’s a wonderful place where you can connect with someone or get involved with something. Don’t forget that you can become a member for just $10 a year and you will stay up to date with all of our events and happenings. If you were a member in 2023 and haven’t renewed yet for 2024, this is your reminder to do so. Membership is valid from Jan. 1 through Dec. 31. We are looking forward to seeing you visit us soon!
Preble County Council on Aging is located at 800 East St. Clair Street, Eaton. For more information, call 937-456-4947 or 1-800-238-5146 or email [email protected].
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https://www.registerherald.com/2024/01/23/senior-edition-winter-mindset/
| 2024-01-26T01:48:15Z
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WEST ALEXANDRIA — Twin Valley South Middle School recently announced those students who were named on the high honor roll list the 2nd quarter (receiving a 3.6-4.0 GPA) and the honor roll list (receiving a 3.3 – 3.59 GPA.) Students listed included:
High honor roll
7th Grade: Anna Dehart, Bronson Garber, Jillian Hassell, Annabelle Johnson, Gavin Lohrey, Kamryn Metzger, Blake Mowell, Breckyn Murray, Audrey Oda, Kameryn Spencer, Adara Suggs, Megan Wampler.
8th Grade: Danika Atkins, Danika Caldwell, Dakota Carder, Gracelynn Childers, Mary Clark, Katherine Clopper, Callie Fogle, Lilianna Guevara, Violet Mayse, Madelyn Moreland,Paisley Sollenberger, Hailey Turpin, Caleb Ulrich, Ezra Valentin, Ava Weldy.
Honor roll
7th Grade: Adriana Cain, Sophia Childs, Scarlet Donovan, Cohen Emig, Rylee Langenkamp.
8th Grade: Dylan Landis, Gracie McKee, Haelee Smith.
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https://www.registerherald.com/2024/01/23/twin-valley-south-middle-school-honor-rolls-3/
| 2024-01-26T01:48:21Z
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MANILA - The Philippines posted a trade deficit of $4.01 billion for December, its narrowest gap in four months, government data showed on Friday.
Imports in December declined 5.1% to $9.8 billion from a year earlier, while exports eased 0.5%, its slowest drop since posting an uptick in August, to $5.8 billion, the Philippine Statistics Authority said. REUTERS
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https://www.straitstimes.com/asia/philippines-posts-4-billion-trade-deficit-in-december-four-month-low
| 2024-01-26T03:12:03Z
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