text
stringlengths 102
112k
| url
stringlengths 37
240
| crawl_date
timestamp[us, tz=UTC]date 2024-01-04 00:15:18
2024-01-31 23:10:45
| exclusion_reason
stringclasses 1
value |
|---|---|---|---|
L3Harris Technologies, Inc. (LHX - Free Report) reported fourth-quarter 2023 adjusted earnings (from continuing operations) of $3.35 per share, which beat the Zacks Consensus Estimate of $3.31 by 1.2%. The bottom line also increased 2% from the year-ago quarter’s reported figure.
Excluding one-time items, the company reported GAAP earnings of 83 cents per share, down from $2.17 generated in the prior-year period.
L3Harris generated 2023 adjusted earnings of $12.36 per share, which beat the Zacks Consensus Estimate of $12.35 by a tad. However, the bottom line decreased 4% from the year-ago quarter’s reported figure.
Total Revenues
L3Harris’ fourth-quarter revenues totaled $5,340 million, which beat the Zacks Consensus Estimate of $5,288 million by 0.9%. The figure also rose 17% from the year-ago quarter’s level of $4,578 million.
The year-over-year top-line improvement can be attributed to the acquisitions of Aerojet Rocketdyne and Tactical Data Links (“TDL”).
The company’s 2023 revenues totaled $19.42 billion, which beat the Zacks Consensus Estimate of $19.36 billion by 0.3%. The figure also rose 14% from the year-ago quarter’s level of $17.06 billion.
Segmental Performance
Integrated Mission Systems: The segment recorded net revenues of $1,627 million, down 6% year over year. This was on account of lower Intelligence, Surveillance and Reconnaissance (ISR) aircraft missionization efforts.
This segment recorded an operating loss of $75 million against an operating income of $179 million in the fourth quarter of 2022.
Space and Airborne Systems: Net revenues from the segment were $1,800 million, up 6% year over year. This upside was largely driven by growth from Space, Mission Networks and Intel and Cyber units.
Operating income declined to $191 million from $193 million reported in the year-ago quarter. The operating margin contracted 70 basis points (bps) to 10.6%, owing to lower margin space revenues.
Communication Systems: Net revenues from this segment increased 14% to $1,363 million, backed by a higher volume of night-vision products. Benefits from the acquisition of TDL also contributed to this segment’s revenues.
Operating income improved to $356 million from $297 million reported in the year-ago quarter. The operating margin improved 120 bps to 26.1%, driven by the acquisition of TDL and efficiencies realized from higher volume.
Aerojet Rocketdyne: This segment reported revenues of $597 million and an operating income of $66 million in the fourth quarter of 2023.
Financial Position
As of Dec 29, 2023, L3Harris had $560 million in cash and cash equivalents compared with $880 million as of Dec 30, 2022.
The long-term debt as of Dec 29, 2023, was $11,160 million compared with $6,225 million as of Dec 30, 2022.
The net cash inflow from operating activities amounted to $2,096 million during 2023 compared with $2,158 million in the prior year.
At the end of 2023, L3Harris generated free cash flow worth $2,009 million compared with $2,029 at the end of 2022.
2024 Guidance
L3Harris announced its 2024 guidance. It expects to generate revenues in the range of $20.70-$21.30 billion. The Zacks Consensus Estimate for revenues is pegged at $21.40 billion, higher than the company’s guided range.
LHX projects 2024 adjusted earnings in the range of $12.40-$12.80 per share. The Zacks Consensus Estimate for the same is pegged at $13.02 per share, higher than the projected range.
LHX expects to generate approximately $2.2 billion in adjusted free cash flow.
Zacks Rank
L3Harris currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Q4 Defense Releases
Lockheed Martin Corporation (LMT - Free Report) reported fourth-quarter 2023 adjusted earnings of $7.90 per share, which beat the Zacks Consensus Estimate of $7.26 by 8.8%. The bottom line also improved 1.4% from the year-ago quarter's recorded figure.
The company’s net sales were $18.87 billion, which surpassed the Zacks Consensus Estimate of $17.98 billion by 4.9%. The top line, however, decreased 0.6% from $18.99 billion reported in the year-ago quarter.
RTX Corporation’s (RTX - Free Report) fourth-quarter 2023 adjusted earnings per share (EPS) of $1.29 beat the Zacks Consensus Estimate of $1.25 by 3.2%. The bottom line also improved 1.6% from the year-ago quarter’s level of $1.27.
RTX’s fourth-quarter adjusted sales totaled $19,824 million. The company reported GAAP sales of $19,927 million compared with $18,093 million in the fourth quarter of 2022.
Textron Inc. (TXT - Free Report) reported fourth-quarter 2023 adjusted earnings of $1.60 per share, which surpassed the Zacks Consensus Estimate of $1.53 by 4.6%. The bottom line also improved 30.1% from the year-ago quarter’s recorded figure.
The company reported total revenues of $3,892 million, which missed the Zacks Consensus Estimate of $3,917.6 million by 0.7%. However, the reported figure increased 7% from the year-ago quarter’s level of $3,636 million.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Lockheed Martin Corporation (LMT) - free report >>
Textron Inc. (TXT) - free report >>
|
https://www.zacks.com/stock/news/2216308/l3harris-lhx-q4-earnings-beat-revenues-increase-yy
| 2024-01-26T13:23:47Z
|
blocked_url
|
Looking for broad exposure to the Mid Cap Blend segment of the US equity market? You should consider the First Trust Mid Cap Core AlphaDEX ETF (FNX - Free Report) , a passively managed exchange traded fund launched on 05/08/2007.
The fund is sponsored by First Trust Advisors. It has amassed assets over $1.09 billion, making it one of the average sized ETFs attempting to match the Mid Cap Blend segment of the US equity market.
Why Mid Cap Blend
With market capitalization between $2 billion and $10 billion, mid cap companies usually contain higher growth prospects than large cap companies, and are considered less risky than their small cap counterparts. These types of companies, then, have a good balance of stability and growth potential.
Blend ETFs usually hold a mix of growth and value stocks as well as stocks that exhibit both value and growth characteristics.
Costs
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.60%, making it one of the more expensive products in the space.
It has a 12-month trailing dividend yield of 1.13%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Financials sector--about 19.40% of the portfolio. Industrials and Consumer Discretionary round out the top three.
Looking at individual holdings, Macy's, Inc. (M - Free Report) accounts for about 0.62% of total assets, followed by Affirm Holdings, Inc. (class A) (AFRM - Free Report) and Immunogen, Inc. (IMGN - Free Report) .
The top 10 holdings account for about 4.91% of total assets under management.
Performance and Risk
FNX seeks to match the performance of the Nasdaq AlphaDEX Mid Cap Core Index before fees and expenses. The NASDAQ AlphaDEX Mid Cap Core Index is an enhanced index which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 600 Mid Cap Index.
The ETF has lost about -1.66% so far this year and is up about 10.13% in the last one year (as of 01/26/2024). In the past 52-week period, it has traded between $85.22 and $105.52.
The ETF has a beta of 1.22 and standard deviation of 21.43% for the trailing three-year period, making it a medium risk choice in the space. With about 451 holdings, it effectively diversifies company-specific risk.
Alternatives
First Trust Mid Cap Core AlphaDEX ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, FNX is a good option for those seeking exposure to the Style Box - Mid Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The Vanguard Mid-Cap ETF (VO - Free Report) and the iShares Core S&P Mid-Cap ETF (IJH - Free Report) track a similar index. While Vanguard Mid-Cap ETF has $58.94 billion in assets, iShares Core S&P Mid-Cap ETF has $76.20 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.
Bottom-Line
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Macy's, Inc. (M) - free report >>
ImmunoGen, Inc. (IMGN) - free report >>
iShares Core S&P Mid-Cap ETF (IJH) - free report >>
First Trust Mid Cap Core AlphaDEX ETF (FNX) - free report >>
|
https://www.zacks.com/stock/news/2216309/should-first-trust-mid-cap-core-alphadex-etf-fnx-be-on-your-investing-radar?
| 2024-01-26T13:23:53Z
|
blocked_url
|
Launched on 02/23/2007, the WisdomTree U.S. SmallCap ETF (EES - Free Report) is a passively managed exchange traded fund designed to provide a broad exposure to the Small Cap Value segment of the US equity market.
The fund is sponsored by Wisdomtree. It has amassed assets over $642.12 million, making it one of the average sized ETFs attempting to match the Small Cap Value segment of the US equity market.
Why Small Cap Value
Sitting at a market capitalization below $2 billion, small cap companies tend to be high-potential stocks compared to its large and mid cap counterparts, but come with higher risk.
While value stocks have lower than average price-to-earnings and price-to-book ratios, they also have lower than average sales and earnings growth rates. Looking at their long-term performance, value stocks have outperformed growth stocks in almost all markets. They are however likely to underperform growth stocks in strong bull markets.
Costs
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for this ETF are 0.38%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.22%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Financials sector--about 26% of the portfolio. Consumer Discretionary and Industrials round out the top three.
Looking at individual holdings, Callon Petroleum Co (CPE - Free Report) accounts for about 0.71% of total assets, followed by Cal-Maine Foods Inc (CALM - Free Report) and Tpg Inc (TPG - Free Report) .
The top 10 holdings account for about 6.09% of total assets under management.
Performance and Risk
EES seeks to match the performance of the WisdomTree U.S. SmallCap Earnings Index before fees and expenses. The WisdomTree U.S. SmallCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the small-capitalization segment of the U.S. Stock Market.
The ETF has lost about -3.09% so far this year and is up about 5.75% in the last one year (as of 01/26/2024). In the past 52-week period, it has traded between $40.06 and $50.69.
The ETF has a beta of 1.29 and standard deviation of 21.98% for the trailing three-year period, making it a medium risk choice in the space. With about 917 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. SmallCap ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, EES is a reasonable option for those seeking exposure to the Style Box - Small Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 2000 Value ETF (IWN - Free Report) and the Vanguard Small-Cap Value ETF (VBR - Free Report) track a similar index. While iShares Russell 2000 Value ETF has $12.01 billion in assets, Vanguard Small-Cap Value ETF has $26.67 billion. IWN has an expense ratio of 0.24% and VBR charges 0.07%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Cal-Maine Foods, Inc. (CALM) - free report >>
Callon Petroleum Company (CPE) - free report >>
Vanguard Small-Cap Value ETF (VBR) - free report >>
iShares Russell 2000 Value ETF (IWN) - free report >>
|
https://www.zacks.com/stock/news/2216310/should-wisdomtree-us-smallcap-etf-ees-be-on-your-investing-radar?
| 2024-01-26T13:24:00Z
|
blocked_url
|
The First Trust NASDAQ-100-Technology Sector ETF (QTEC - Free Report) was launched on 04/19/2006, and is a smart beta exchange traded fund designed to offer broad exposure to the Technology ETFs category of the market.
What Are Smart Beta ETFs?
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
Because the fund has amassed over $3.75 billion, this makes it one of the largest ETFs in the Technology ETFs. QTEC is managed by First Trust Advisors. QTEC seeks to match the performance of the NASDAQ-100 Technology Sector Index before fees and expenses.
The NASDAQ-100 Technology Sector Index is an equal-weighted index based on the securities of the NASDAQ-100 Index that are classified as technology.
Cost & Other Expenses
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.57%, making it on par with most peer products in the space.
QTEC's 12-month trailing dividend yield is 0.13%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
Representing 91.70% of the portfolio, the fund has heaviest allocation to the Information Technology sector.
When you look at individual holdings, Crowdstrike Holdings, Inc. (class A) (CRWD - Free Report) accounts for about 3.58% of the fund's total assets, followed by Pdd Holdings Inc. (adr) (PDD - Free Report) and Zscaler, Inc. (ZS - Free Report) .
The top 10 holdings account for about 31.25% of total assets under management.
Performance and Risk
The ETF has added about 5.31% and is up about 58.95% so far this year and in the past one year (as of 01/26/2024), respectively. QTEC has traded between $116.53 and $184.98 during this last 52-week period.
The fund has a beta of 1.20 and standard deviation of 30.96% for the trailing three-year period, which makes QTEC a high risk choice in this particular space. With about 39 holdings, it has more concentrated exposure than peers.
Alternatives
First Trust NASDAQ-100-Technology Sector ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.
Technology Select Sector SPDR ETF (XLK - Free Report) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (VGT - Free Report) tracks MSCI US Investable Market Information Technology 25/50 Index. Technology Select Sector SPDR ETF has $62.19 billion in assets, Vanguard Information Technology ETF has $62.27 billion. XLK has an expense ratio of 0.10% and VGT charges 0.10%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Technology Select Sector SPDR ETF (XLK) - free report >>
Vanguard Information Technology ETF (VGT) - free report >>
First Trust NASDAQ-100-Technology Sector ETF (QTEC) - free report >>
Zscaler, Inc. (ZS) - free report >>
|
https://www.zacks.com/stock/news/2216311/is-first-trust-nasdaq-100-technology-sector-etf-qtec-a-strong-etf-right-now?
| 2024-01-26T13:24:06Z
|
blocked_url
|
Making its debut on 06/16/2006, smart beta exchange traded fund WisdomTree U.S. SmallCap Dividend ETF (DES - Free Report) provides investors broad exposure to the Style Box - Small Cap Value category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is sponsored by Wisdomtree. It has amassed assets over $1.94 billion, making it one of the larger ETFs in the Style Box - Small Cap Value. Before fees and expenses, DES seeks to match the performance of the WisdomTree U.S. SmallCap Dividend Index.
The WisdomTree U.S. SmallCap Dividend Index is a fundamentally weighted index measuring the performance of the small-capitalization segment of the US dividend-paying market.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.38%.
It has a 12-month trailing dividend yield of 2.74%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
DES's heaviest allocation is in the Financials sector, which is about 26.10% of the portfolio. Its Consumer Discretionary and Industrials round out the top three.
Taking into account individual holdings, Organon & Co (OGN - Free Report) accounts for about 0.98% of the fund's total assets, followed by Tfs Financial Corp (TFSL - Free Report) and Leggett & Platt Inc (LEG - Free Report) .
Its top 10 holdings account for approximately 8.15% of DES's total assets under management.
Performance and Risk
The ETF has lost about -2.28% so far this year and is up about 6.14% in the last one year (as of 01/26/2024). In the past 52-week period, it has traded between $26.55 and $32.72.
The ETF has a beta of 1.12 and standard deviation of 19.88% for the trailing three-year period, making it a medium risk choice in the space. With about 606 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. SmallCap Dividend ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Russell 2000 Value ETF (IWN - Free Report) tracks Russell 2000 Value Index and the Vanguard Small-Cap Value ETF (VBR - Free Report) tracks CRSP U.S. Small Cap Value Index. IShares Russell 2000 Value ETF has $12.01 billion in assets, Vanguard Small-Cap Value ETF has $26.67 billion. IWN has an expense ratio of 0.24% and VBR charges 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Leggett & Platt, Incorporated (LEG) - free report >>
TFS Financial Corporation (TFSL) - free report >>
Vanguard Small-Cap Value ETF (VBR) - free report >>
WisdomTree U.S. SmallCap Dividend ETF (DES) - free report >>
|
https://www.zacks.com/stock/news/2216312/is-wisdomtree-us-smallcap-dividend-etf-des-a-strong-etf-right-now?
| 2024-01-26T13:24:10Z
|
blocked_url
|
Looking for broad exposure to the Small Cap Growth segment of the US equity market? You should consider the iShares S&P Small-Cap 600 Growth ETF (IJT - Free Report) , a passively managed exchange traded fund launched on 07/24/2000.
The fund is sponsored by Blackrock. It has amassed assets over $5.53 billion, making it one of the larger ETFs attempting to match the Small Cap Growth segment of the US equity market.
Why Small Cap Growth
Small cap companies have market capitalization below $2 billion. They usually have higher potential than large and mid cap companies with stocks but higher risk.
Growth stocks have higher than average sales and earnings growth rates. While these are expected to grow faster than the broader market, they also have higher valuations. Additionally, growth stocks have a greater level of risk associated with them. They are likely to outperform value stocks in strong bull markets but over the longer-term, value stocks have delivered better returns than growth stocks in almost all markets.
Costs
When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.
Annual operating expenses for this ETF are 0.18%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.03%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Industrials sector--about 18.90% of the portfolio. Information Technology and Healthcare round out the top three.
Looking at individual holdings, Elf Beauty Inc (ELF - Free Report) accounts for about 1.48% of total assets, followed by Rambus Inc (RMBS - Free Report) and Comfort Systems Usa Inc (FIX - Free Report) .
The top 10 holdings account for about 12.07% of total assets under management.
Performance and Risk
IJT seeks to match the performance of the S&P SmallCap 600 Growth Index before fees and expenses. The S&P SmallCap 600 Growth Index measures the performance of the small-capitalization growth sector of the U.S. equity market.
The ETF has lost about -1.29% so far this year and was up about 9.62% in the last one year (as of 01/26/2024). In the past 52-week period, it has traded between $103.08 and $127.26.
The ETF has a beta of 1.11 and standard deviation of 22.41% for the trailing three-year period, making it a medium risk choice in the space. With about 390 holdings, it effectively diversifies company-specific risk.
Alternatives
IShares S&P Small-Cap 600 Growth ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, IJT is a good option for those seeking exposure to the Style Box - Small Cap Growth area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 2000 Growth ETF (IWO - Free Report) and the Vanguard Small-Cap Growth ETF (VBK - Free Report) track a similar index. While iShares Russell 2000 Growth ETF has $10.53 billion in assets, Vanguard Small-Cap Growth ETF has $15.25 billion. IWO has an expense ratio of 0.24% and VBK charges 0.07%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Rambus, Inc. (RMBS) - free report >>
Comfort Systems USA, Inc. (FIX) - free report >>
iShares Russell 2000 Growth ETF (IWO) - free report >>
iShares S&P Small-Cap 600 Growth ETF (IJT) - free report >>
|
https://www.zacks.com/stock/news/2216313/should-ishares-sp-small-cap-600-growth-etf-ijt-be-on-your-investing-radar?
| 2024-01-26T13:24:17Z
|
blocked_url
|
Looking for broad exposure to the Mid Cap Value segment of the US equity market? You should consider the WisdomTree U.S. MidCap Dividend ETF (DON - Free Report) , a passively managed exchange traded fund launched on 06/16/2006.
The fund is sponsored by Wisdomtree. It has amassed assets over $3.45 billion, making it one of the larger ETFs attempting to match the Mid Cap Value segment of the US equity market.
Why Mid Cap Value
With market capitalization between $2 billion and $10 billion, mid cap companies usually contain higher growth prospects than large cap companies, and are considered less risky than their small cap counterparts. These types of companies, then, have a good balance of stability and growth potential.
Value stocks have lower than average price-to-earnings and price-to-book ratios. They also have lower than average sales and earnings growth rates. While value stocks have outperformed growth stocks in nearly all markets when you consider long-term performance, growth stocks are more likely to outpace value stocks in strong bull markets.
Costs
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.38%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 2.46%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Financials sector--about 25.20% of the portfolio. Industrials and Consumer Discretionary round out the top three.
Looking at individual holdings, Franklin Resources Inc (BEN - Free Report) accounts for about 0.99% of total assets, followed by Wp Carey Inc (WPC - Free Report) and Conagra Brands Inc (CAG - Free Report) .
The top 10 holdings account for about 9.01% of total assets under management.
Performance and Risk
DON seeks to match the performance of the WisdomTree U.S. MidCap Dividend Index before fees and expenses. The WisdomTree U.S. MidCap Dividend Index is a fundamentally weighted index that measures the performance of the mid-capitalization segment of the US dividend-paying market.
The ETF has lost about -0.74% so far this year and was up about 6.90% in the last one year (as of 01/26/2024). In the past 52-week period, it has traded between $38.70 and $46.
The ETF has a beta of 1.08 and standard deviation of 18.88% for the trailing three-year period, making it a medium risk choice in the space. With about 336 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. MidCap Dividend ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, DON is a reasonable option for those seeking exposure to the Style Box - Mid Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell Mid-Cap Value ETF (IWS - Free Report) and the Vanguard Mid-Cap Value ETF (VOE - Free Report) track a similar index. While iShares Russell Mid-Cap Value ETF has $12.91 billion in assets, Vanguard Mid-Cap Value ETF has $16.17 billion. IWS has an expense ratio of 0.23% and VOE charges 0.07%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Franklin Resources, Inc. (BEN) - free report >>
Conagra Brands (CAG) - free report >>
W.P. Carey Inc. (WPC) - free report >>
WisdomTree U.S. MidCap Dividend ETF (DON) - free report >>
|
https://www.zacks.com/stock/news/2216314/should-wisdomtree-us-midcap-dividend-etf-don-be-on-your-investing-radar?
| 2024-01-26T13:24:31Z
|
blocked_url
|
The Schwab Fundamental U.S. Broad Market Index ETF (FNDB - Free Report) was launched on 08/13/2013, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - All Cap Value category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
FNDB is managed by Charles Schwab, and this fund has amassed over $663.17 million, which makes it one of the larger ETFs in the Style Box - All Cap Value. FNDB, before fees and expenses, seeks to match the performance of the Russell RAFI US Index.
The Russell RAFI US Index measures the performance of the constituent companies by fundamental overall company scores.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Operating expenses on an annual basis are 0.25% for this ETF, which makes it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.79%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
For FNDB, it has heaviest allocation in the Financials sector --about 18.80% of the portfolio --while Information Technology and Healthcare round out the top three.
Taking into account individual holdings, Apple Inc (AAPL - Free Report) accounts for about 4.29% of the fund's total assets, followed by Microsoft Corp (MSFT - Free Report) and Berkshire Hathaway Inc Class B (BRK/B).
Its top 10 holdings account for approximately 20.08% of FNDB's total assets under management.
Performance and Risk
The ETF has gained about 0.97% and is up roughly 13.73% so far this year and in the past one year (as of 01/26/2024), respectively. FNDB has traded between $51.70 and $61.69 during this last 52-week period.
The ETF has a beta of 1.02 and standard deviation of 16.48% for the trailing three-year period, making it a medium risk choice in the space. With about 1689 holdings, it effectively diversifies company-specific risk.
Alternatives
Schwab Fundamental U.S. Broad Market Index ETF is an excellent option for investors seeking to outperform the Style Box - All Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.
Dimensional U.S. Targeted Value ETF (DFAT - Free Report) tracks ---------------------------------------- and the iShares Core S&P U.S. Value ETF (IUSV - Free Report) tracks S&P 900 Value Index. Dimensional U.S. Targeted Value ETF has $9.46 billion in assets, iShares Core S&P U.S. Value ETF has $15.48 billion. DFAT has an expense ratio of 0.28% and IUSV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - All Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Apple Inc. (AAPL) - free report >>
Microsoft Corporation (MSFT) - free report >>
iShares Core S&P U.S. Value ETF (IUSV) - free report >>
Schwab Fundamental U.S. Broad Market Index ETF (FNDB) - free report >>
|
https://www.zacks.com/stock/news/2216315/is-schwab-fundamental-us-broad-market-index-etf-fndb-a-strong-etf-right-now?
| 2024-01-26T13:24:37Z
|
blocked_url
|
The WisdomTree International Hedged Quality Dividend Growth ETF (IHDG - Free Report) was launched on 05/07/2014, and is a smart beta exchange traded fund designed to offer broad exposure to the Broad Developed World ETFs category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
IHDG is managed by Wisdomtree, and this fund has amassed over $2.07 billion, which makes it one of the larger ETFs in the Broad Developed World ETFs. IHDG, before fees and expenses, seeks to match the performance of the WisdomTree International Hedged Quality Dividend Growth Index.
The WisdomTree International Hedged Quality Dividend Growth Index is designed to provide exposure to the developed market companies while at the same time neutralizing exposure to fluctuations between the value of foreign currencies and the U.S. dollar.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Operating expenses on an annual basis are 0.58% for this ETF, which makes it one of the more expensive products in the space.
It has a 12-month trailing dividend yield of 1.68%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
When you look at individual holdings, Lvmh Moet Hennessy Louis Vuitton Se (MC - Free Report) accounts for about 4.78% of the fund's total assets, followed by Industria De Diseno Textil (ITX) and Novartis Ag .
IHDG's top 10 holdings account for about 33.43% of its total assets under management.
Performance and Risk
The ETF has gained about 1.48% and is up roughly 13.03% so far this year and in the past one year (as of 01/26/2024), respectively. IHDG has traded between $37.15 and $42.61 during this last 52-week period.
The fund has a beta of 0.74 and standard deviation of 14.37% for the trailing three-year period, which makes IHDG a medium risk choice in this particular space. With about 335 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree International Hedged Quality Dividend Growth ETF is not a suitable option for investors seeking to outperform the Broad Developed World ETFs segment of the market. Instead, there are other ETFs in the space which investors should consider.
IShares Core Dividend Growth ETF (DGRO - Free Report) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation ETF (VIG - Free Report) tracks NASDAQ US Dividend Achievers Select Index. IShares Core Dividend Growth ETF has $25.58 billion in assets, Vanguard Dividend Appreciation ETF has $75.43 billion. DGRO has an expense ratio of 0.08% and VIG charges 0.06%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Broad Developed World ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Moelis & Company (MC) - free report >>
Vanguard Dividend Appreciation ETF (VIG) - free report >>
iShares Core Dividend Growth ETF (DGRO) - free report >>
WisdomTree International Hedged Quality Dividend Growth ETF (IHDG) - free report >>
|
https://www.zacks.com/stock/news/2216316/is-wisdomtree-international-hedged-quality-dividend-growth-etf-ihdg-a-strong-etf-right-now?
| 2024-01-26T13:24:43Z
|
blocked_url
|
Launched on 03/01/2006, the Invesco S&P SmallCap 600 Pure Value ETF (RZV - Free Report) is a passively managed exchange traded fund designed to provide a broad exposure to the Small Cap Value segment of the US equity market.
The fund is sponsored by Invesco. It has amassed assets over $256.65 million, making it one of the average sized ETFs attempting to match the Small Cap Value segment of the US equity market.
Why Small Cap Value
With more potential comes more risk, and small cap companies, with market capitalization below $2 billion, epitomizes this way of thinking.
While value stocks have lower than average price-to-earnings and price-to-book ratios, they also have lower than average sales and earnings growth rates. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.35%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.17%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Consumer Discretionary sector--about 19.80% of the portfolio. Financials and Industrials round out the top three.
Looking at individual holdings, Dish Network Corp (DISH) accounts for about 1.83% of total assets, followed by Xerox Holdings Corp (XRX - Free Report) and Jetblue Airways Corp (JBLU - Free Report) .
The top 10 holdings account for about 15.94% of total assets under management.
Performance and Risk
RZV seeks to match the performance of the S&P SmallCap 600 Pure Value Index before fees and expenses. The S&P SmallCap 600 Pure Value Index measures the performance of securities that exhibit strong value characteristics in the S&P SmallCap 600 Index.
The ETF has lost about -3.62% so far this year and it's up approximately 6.42% in the last one year (as of 01/26/2024). In the past 52-week period, it has traded between $83.38 and $108.67.
The ETF has a beta of 1.49 and standard deviation of 25.49% for the trailing three-year period, making it a high risk choice in the space. With about 143 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco S&P SmallCap 600 Pure Value ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, RZV is a reasonable option for those seeking exposure to the Style Box - Small Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 2000 Value ETF (IWN - Free Report) and the Vanguard Small-Cap Value ETF (VBR - Free Report) track a similar index. While iShares Russell 2000 Value ETF has $12.01 billion in assets, Vanguard Small-Cap Value ETF has $26.67 billion. IWN has an expense ratio of 0.24% and VBR charges 0.07%.
Bottom-Line
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
JetBlue Airways Corporation (JBLU) - free report >>
Xerox Holdings Corporation (XRX) - free report >>
Vanguard Small-Cap Value ETF (VBR) - free report >>
iShares Russell 2000 Value ETF (IWN) - free report >>
Invesco S&P SmallCap 600 Pure Value ETF (RZV) - free report >>
|
https://www.zacks.com/stock/news/2216317/should-invesco-sp-smallcap-600-pure-value-etf-rzv-be-on-your-investing-radar?
| 2024-01-26T13:24:49Z
|
blocked_url
|
The Invesco High Yield Equity Dividend Achievers ETF (PEY - Free Report) was launched on 12/09/2004, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - All Cap Value category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is managed by Invesco, and has been able to amass over $1.29 billion, which makes it one of the largest ETFs in the Style Box - All Cap Value. Before fees and expenses, PEY seeks to match the performance of the NASDAQ US Dividend Achievers 50 Index.
The NASDAQ US Dividend Achievers 50 Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends.
Cost & Other Expenses
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
Annual operating expenses for this ETF are 0.52%, making it on par with most peer products in the space.
PEY's 12-month trailing dividend yield is 4.80%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 27.30% of the portfolio, the fund has heaviest allocation to the Financials sector; Utilities and Consumer Staples round out the top three.
Taking into account individual holdings, Walgreens Boots Alliance Inc (WBA - Free Report) accounts for about 4.30% of the fund's total assets, followed by Nu Skin Enterprises Inc (NUS - Free Report) and Kennedy-Wilson Holdings Inc (KW - Free Report) .
Its top 10 holdings account for approximately 30.57% of PEY's total assets under management.
Performance and Risk
The ETF has lost about -2.53% and is up about 2.36% so far this year and in the past one year (as of 01/26/2024), respectively. PEY has traded between $18 and $21.76 during this last 52-week period.
The ETF has a beta of 0.90 and standard deviation of 16.66% for the trailing three-year period, making it a medium risk choice in the space. With about 52 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco High Yield Equity Dividend Achievers ETF is an excellent option for investors seeking to outperform the Style Box - All Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.
Dimensional U.S. Targeted Value ETF (DFAT - Free Report) tracks ---------------------------------------- and the iShares Core S&P U.S. Value ETF (IUSV - Free Report) tracks S&P 900 Value Index. Dimensional U.S. Targeted Value ETF has $9.46 billion in assets, iShares Core S&P U.S. Value ETF has $15.48 billion. DFAT has an expense ratio of 0.28% and IUSV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - All Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Kennedy-Wilson Holdings Inc. (KW) - free report >>
Nu Skin Enterprises, Inc. (NUS) - free report >>
Invesco High Yield Equity Dividend Achievers ETF (PEY) - free report >>
Walgreens Boots Alliance, Inc. (WBA) - free report >>
|
https://www.zacks.com/stock/news/2216318/is-invesco-high-yield-equity-dividend-achievers-etf-pey-a-strong-etf-right-now?
| 2024-01-26T13:24:56Z
|
blocked_url
|
The Boeing Company’s (BA - Free Report) commercial airplane business is expected to have benefited from increased commercial delivery figures and improved quality performance in factories in the fourth quarter of 2023.
However, the company’s fourth-quarter earnings, scheduled for release on Jan 31, are likely to reflect the adverse impact of abnormal costs related to the 777X program and higher research and development (R&D) expenses.
Click here to know how the company’s overall quarterly performance is likely to have been.
Will Improved Jet Deliveries Boost Growth?
Thanks to a steadily growing commercial air traffic (both domestic and international), improved delivery figures for Boeing’s 787 and 767 jets were observed in the soon-to-be-reported quarter. Evidently, the aerospace giant delivered 23 787 Dreamliner jets in the fourth quarter, indicating 4.5% growth from the year-ago period’s reported figure. On the other hand, 767 jets’ delivery reached 15 units in the soon-to-be-reported quarter, up from 12 units recorded in the fourth quarter of 2022.
Its 777 delivery figure also reflected a year-over-year improvement of 50%. The delivery figure for 737 jets remained flat year over year at 110, indicating a major development from a steady decline in deliveries observed in the prior few quarters.
Cumulatively, BA’s fourth-quarter commercial shipments went up 3.3% in the fourth quarter compared with the prior-year quarter’s level.
Such significant delivery figures for its major commercial jetliners thereby boosted overall revenues for Boeing Commercial Airplane (BCA) segment in the to-be-reported quarter.
The fourth-quarter top-line estimate for Boeing’s commercial business segment is pegged at $10,228.7 million, implying a solid 10.9% improvement from the year-ago quarter’s reported figure.
Earnings Expectations
Since the company continues to manufacture its 787 Dreamliner at an abnormally low rate and the production pause for its 777X program is still active, consistent abnormal costs associated with these two jet programs are likely to have adversely impacted the BCA segment’s earnings.
Further, higher R&D expenditures related to investment in the 777X program in the BCA unit might have hurt the segment’s earnings.
Nevertheless, improving quality performance witnessed within its manufacturing facilities can be expected to have boosted this segment’s operating margin, thereby bolstering earnings performance.
Moreover, the company has been steadily increasing production rates for some of its key commercial programs to meet the growing jet demand. This, in turn, must have bolstered its production efficiency, thereby aiding the segment’s overall operational performance.
Also, consistent cost management efforts by the BCA team are likely to have contributed to this unit’s fourth-quarter bottom-line growth.
The fourth-quarter earnings estimate for BA’s commercial business segment is pegged at a loss of $259.9 million, indicating a significant improvement from the year-ago quarter’s reported loss of $626 million.
What the Zacks Model Unveils
Our proven model conclusively predicts an earnings beat for Boeing this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is the case here, as you will see below.
Boeing has an Earnings ESP of +12.32% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Below are two other defense stocks that also have the right combination of elements to post an earnings beat this time around.
CAE Inc. (CAE - Free Report) is slated to release third-quarter fiscal 2024 results on Feb 14. CAE has an Earnings ESP of +7.18% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CAE delivered a four-quarter average earnings surprise of 15.97%. The consensus estimate for fiscal third-quarter earnings is pegged at 18 cents per share, while that for sales is pinned at $800.7 million.
Leidos (LDOS - Free Report) is scheduled to release fourth-quarter results on Feb 13. LDOS has an Earnings ESP of +1.88% and a Zacks Rank #1 at present.
Leidos delivered a four-quarter average earnings surprise of 11.51%. The Zacks Consensus Estimate for LDOS’ fourth-quarter earnings is pegged at $1.73 per share, while that for sales is pinned at $3.79 billion.
A Recent Defense Release
RTX Corporation’s (RTX - Free Report) fourth-quarter 2023 adjusted earnings per share (EPS) of $1.29 beat the Zacks Consensus Estimate of $1.25 by 3.2%. The bottom line also improved 1.6% from the year-ago quarter’s level of $1.27.
RTX’s fourth-quarter adjusted sales totaled $19,824 million. The company reported GAAP sales of $19,927 million compared with $18,093 million in the fourth quarter of 2022.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
The Boeing Company (BA) - free report >>
CAE Inc (CAE) - free report >>
|
https://www.zacks.com/stock/news/2216319/higher-commercial-jet-deliveries-to-aid-boeings-ba-q4-earnings
| 2024-01-26T13:25:02Z
|
blocked_url
|
Shares of Capital One (COF - Free Report) lost 1.3% in after-hours trading in response to lower-than-expected fourth-quarter 2023 results. Quarterly adjusted earnings of $2.24 per share lagged the Zacks Consensus Estimate of $2.50. Also, the bottom line fell 21% from the year-ago quarter.
Results were adversely impacted by higher provisions, increasing deposit costs and a rise in non-interest expenses. However, an increase in net interest income (NII) and higher loan balance offered support. Further, higher fee income on the back of robust credit card performance acted as a tailwind.
The results excluded certain one-item charges. After considering these, net income available to common shareholders was $639 million, plunging 45% from the prior-year quarter. Our estimate for the metric was $1804.9.
For 2023, adjusted earnings were $12.52 per share, missing the Zacks Consensus Estimate of $12.78 and down 29% year over year. Net income available to common shareholders (GAAP) was $4.58 billion, declining 35%.
Revenues Improve, Expenses Rise
Total net revenues for the reported quarter were $9.51 billion, up 5% from the prior-year quarter. The top line beat the Zacks Consensus Estimate of $9.45 billion.
For 2023, total net revenues grew 7% to $36.79 billion. The top line also surpassed the consensus estimate of $36.73 billion.
NII improved 4% to $7.52 billion. NIM declined 11 basis points (bps) to 6.73% as higher rates paid on interest-bearing deposits were partly offset by higher asset yields and growth in the credit card loan portfolio. Our estimates for NII and NIM were $7.25 billion and 6.32%, respectively.
Non-interest income of $2 billion increased 8%. The rise was driven by an increase in net interchange fees, service charges and other customer-related fees and other income. Our estimate for non-interest income was $2.01 billion.
Non-interest expenses were $5.72 billion, up 13%. Adjusted expenses increased 5% to $5.43 billion. The rise was mainly due to higher marketing costs and occupancy and equipment costs. We expected the metric to be $5.57 billion.
The efficiency ratio was 60.14%, up from 56.19% in the year-ago quarter. A rise in the efficiency ratio indicates a deteriorationin profitability.
As of Dec 31, 2023, loans held for investment were $320.5 billion, up 2% from the prior-quarter end. Total deposits were $348.4 billion, which rose 1%.
Credit Quality Worsens
Provision for credit losses was $2.86 billion in the reported quarter, rising 18% from the prior-year quarter. We had anticipated provisions of $2.60 billion.
The 30-plus-day-performing delinquency rate rose 75 bps year over year to 3.71%. Also, the net charge-off rate jumped 1352 bps to 3.21%. Allowance, as a percentage of reported loans held for investment, was 4.77%, up 53 bps year over year.
Capital Ratios Improve, Profitability Ratios Deteriorate
As of Dec 31, 2023, the Tier 1 risk-based capital ratio was 14.2%, up from 13.9% a year ago. The common equity Tier 1 capital ratio was 12.9%, improving from 12.5%.
At the end of the fourth quarter, the return on average assets was 0.60%, down from 1.10% in the year-ago period. Return on average common equity was 5.03%, rising from 9.76%.
Share Repurchase
During the reported quarter, Capital One repurchased 1.4 million shares for $150 million.
Our View
Capital One’s strategic acquisitions, decent demand for consumer loans, higher rates and steady improvement in the card business position it well for long-term growth. However, elevated expenses and a deteriorating macroeconomic backdrop are major near-term concerns.
Currently, Capital One 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 Consumer Loan Stocks
Ally Financial’s (ALLY - Free Report) fourth-quarter 2023 adjusted earnings of 45 cents per share surpassed the Zacks Consensus Estimate by a penny. However, the bottom line reflects a decline of 58.3% from the year-ago quarter.
ALLY’s results were primarily aided by an improvement in other revenues. However, a decline in net financing revenues and higher expenses and provisions were the undermining factors.
Sallie Mae’s (SLM - Free Report) , formally SLM Corporation, fourth-quarter 2023 core earnings per share of 72 cents missed the Zacks Consensus Estimate of 87 cents. The bottom line, however, compared favorably with the prior-year quarter’s loss of 33 cents.
A rise in non-interest expenses impeded the results. Nonetheless, lower provisions for credit losses, an increase in NII, robust loan originations and higher non-interest income were positives for SLM.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
SLM Corporation (SLM) - free report >>
|
https://www.zacks.com/stock/news/2216322/capital-one-cof-falls-on-q4-earnings-miss-as-provisions-rise
| 2024-01-26T13:25:08Z
|
blocked_url
|
Koninklijke Philips (PHG - Free Report) is scheduled to report fourth-quarter 2023 results on Jan 29.
For the quarter under review, the Zacks Consensus Estimate for revenues is pegged at $5.47 billion, indicating a decline of 1.2% from the year-ago reported number.
The consensus mark for earnings is pinned at 41 cents per share, indicating a 2.4% decline from the prior-year quarter’s level. The figure has remained stable over the past 30 days.
Factors to Consider
Koninklijke Philips is expected to have continued benefiting from strength in its Diagnosis & Treatment segment during the fourth quarter.
Solid momentum in Ultrasound and Image-Guided Therapy is expected to have contributed well to the segment’s revenues. The company’s expanding AI-supported solutions designed to deliver diagnosis faster and virtually might have been a positive.
PHG’s solid efforts to bolster diagnostic imaging offerings are expected to have driven top-line growth further within the segment.
In the fourth quarter, Koninklijke Philips unveiled three new ultra-lightweight magnetic resonance Smart Fit coils, namely Smart Fit TorsoCardiac 1.5T, Smart Fit 1.5T shoulder and Smart Fit Knee 3.0T, at RSNA 2023. The new products offer enhanced flexibility, reduce patient setup time and improve image quality resolution with SmartSpeed AI solution.
Koninklijke Philips also introduced next-generation ultrasound systems, namely EPIQ Elite 10.0 and Philips Affiniti, to simplify clinical workflows with a single-user interface, shared transducers and automated tools, enhancing the user experience.
PHG also introduced HealthSuite Imaging, an AI-enabled cloud-based Picture Archiving and Communication System, which offers high-speed remote diagnostic reading, integrated reporting and AI-powered workflow orchestration, enhancing operational efficiency and patient care.
In addition to the Diagnosis & Treatment segment, improving the Connected Care segment is likely to benefit the upcoming results. Growing momentum in Monitoring and Enterprise Informatics is expected to have aided the segment's fourth-quarter performance.
This apart, Philips’ growing endeavors toward enhancing patient safety and quality and strengthening supply chain reliability are anticipated to be reflected in the fourth-quarter results.
However, softness in the Personal Health segment is expected to have been a concern for the company.
Declining comparable order intake in both Diagnosis & Treatment and Connected Care businesses is expected to have been a negative.
The challenging global macroeconomic environment might have been a headwind.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Koninklijke Philips 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 not the case here, as elaborated below.
Koninklijke Philips has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
PHG has a Zacks Rank #3 at present.
Stocks to Consider
Here are some companies that, per our model, have the right combination of elements to post an earnings beat this reporting cycle.
Apple (AAPL - Free Report) has an Earnings ESP of +1.96% and a Zacks Rank #3 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 $2.09 per share, indicating a jump of 11.7% from the prior-year quarter's level.
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’ earnings is pegged at 95 cents per share, indicating growth of 10.5% from the prior-year period’s reported figure.
Alphabet (GOOGL - Free Report) has an Earnings ESP of +2.26% and a Zacks Rank #3 at present.
Alphabet is scheduled to release fourth-quarter 2023 results on Jan 30. The Zacks Consensus Estimate for GOOGL’s earnings is pinned at $1.60 per share, indicating growth of 52.4% from the year-ago quarter's actuals.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Apple Inc. (AAPL) - free report >>
Koninklijke Philips N.V. (PHG) - free report >>
|
https://www.zacks.com/stock/news/2216323/whats-in-store-for-koninklijke-philips-phg-in-q4-earnings?
| 2024-01-26T13:25:15Z
|
blocked_url
|
Shares of Valley National Bancorp (VLY - Free Report) tanked 4.4% in response to lower-than-expected fourth-quarter 2023 results. Adjusted earnings per share of 22 cents lagged the Zacks Consensus Estimate of 25 cents. The bottom line also declined 37.1% on a year-over-year basis.
Results were adversely impacted by a rise in expenses and provisions and lower non-interest income. Also, net interest income (NII) declined due to rising deposit expenses.
Net income available to common shareholders (GAAP basis) was $67.5 million or 13 cents per share, down from $174 million or 34 cents per share in the year-ago quarter.
For 2023, adjusted earnings of $1.06 per share missed the consensus estimate of $1.08 and declined 19.1% year over year. Net income available to common shareholders (GAAP basis) was $482.4 million or 95 cents per share, down from $555.7 million or $1.14 per share in 2022.
Revenues Fall, Expenses Rise
Quarterly total revenues were $450 million, down 13.2% year over year. The top line also missed the Zacks Consensus Estimate of $465.8 million.
For 2023, total revenues grew 1.5% to $1.89 billion. The top line marginally lagged the consensus estimate of $1.9 billion.
NII (fully-taxable-equivalent or FTE basis) was $398.6 million, declining 14.7%. This was due to higher interest expenses. Net interest margin (FTE basis) was 2.82%, down 75 basis points.
Non-interest income decreased marginally to $52.7 million. The fall was largely due to lower service charges on deposit accounts and capital markets.
Non-interest expenses of $340.4 million jumped 27.9%. Adjusted expenses rose 6.6% to $272.6 million.
The efficiency ratio was 60.70%, up from 49.30% in the prior-year quarter. A rise in the efficiency ratio indicates a deterioration in profitability.
As of Dec 31, 2023, total loans were $50.2 billion, up marginally sequentially. As of the same date, total deposits amounted to $49.2 billion, declining slightly.
Credit Quality: Mixed Bag
As of Dec 31, 2023, total non-performing assets were $293.4 million, up 7.9% year over year. Provision for credit losses for loans was $20.7 million, rising substantially from $7.3 million.
Allowance for credit losses as a percentage of total loans was 0.93%, down from 1.03% in the year-ago quarter.
Profitability Ratios Deteriorate, Capital Ratios Improve
At the end of the fourth quarter, adjusted annualized return on average assets was 0.76%, down from 1.29% in the year-earlier quarter. Annualized return on average shareholders’ equity was 7.01%, down from 11.56%.
VLY's tangible common equity to tangible assets ratio was 7.58% as of Dec 31, 2023, up from 7.24% in the corresponding period of 2022. Tier 1 risk-based capital ratio was 9.72%, up from 9.47%. Also, the common equity tier 1 capital ratio of 9.29% declined from 9.03% as of Dec 31, 2022.
Conclusion
Valley National’s organic growth trajectory, strategic acquisitions and digitization efforts will support financials. However, persistently increasing costs and a challenging macroeconomic backdrop remain major concerns.
In January, Valley National entered into an agreement to sell its commercial premium finance lending business and a large portion of its outstanding loan portfolio. This line of business represented $274.7 million in total loans as of Dec 31, 2023. The transaction is expected to close during the first quarter of 2024 and is not likely to have any material impact on its financial statements.
Valley National currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Banks
East West Bancorp’s (EWBC - Free Report) fourth-quarter 2023 adjusted earnings per share of $2.02 surpassed the Zacks Consensus Estimate of $1.89. However, the bottom line declined 14.8% from the prior-year quarter.
Including FDIC special assessment-related expenses and gain on the sale of an available-for-sale debt security, EWBC’s earnings per share were $1.69.
Results were primarily aided by an increase in non-interest income. Also, loan balances increased sequentially in the quarter, which was a positive. However, lower NII and higher expenses and provisions were the undermining factors for EWBC.
Webster Financial’s (WBS - Free Report) fourth-quarter 2023 adjusted earnings per share of $1.46 were in line with Zacks Consensus Estimate. This compares favorably with earnings of $1.38 per share a year ago.
Results benefited from lower provisions and solid loans and deposit balances. However, a fall in both NII and non-interest income, along with elevated expenses, was the major headwind for WBS.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Webster Financial Corporation (WBS) - free report >>
|
https://www.zacks.com/stock/news/2216324/valley-national-vly-slides-44-as-q4-earnings-lag-estimates
| 2024-01-26T13:25:21Z
|
blocked_url
|
Alphabet’s (GOOGL - Free Report) fourth-quarter 2023 results, scheduled to be released on Jan 30, are likely to reflect gains from its strengthening cloud service offerings.
The company’s cloud services arm — Google Cloud — has become the key catalyst behind its business growth.
Alphabet’s cloud offerings include Google Cloud Platform and Google Workspace, which have been continuously gaining momentum in the booming cloud computing market. Google’s growing investments in infrastructure, security, data management, analytics and AI have been the major positives.
The Google Cloud segment, which derives revenues from fees collected for Google Cloud Platform services and Google Workspace collaboration tools, has constantly been driving substantial revenue growth for Alphabet.
Revenues from the segment totaled $8.41 billion in third-quarter 2023. The figure accounted for 10.9% of total revenues and exhibited year-over-year growth of 22.5%.
For fourth-quarter 2023, the Zacks Consensus Estimate for Google Cloud’s revenues is pegged at $9.04 billion, indicating growth of 23.6% from the prior-year quarter’s reported figure.
Click here to know how the company’s overall fourth-quarter results are likely to be.
Factors to Consider
GOOGL’s efforts in integrating data lakes, data warehouses, data governance and advanced machine learning into a single platform are expected to have bolstered its prospects in the cloud market during the to-be-reported quarter.
Its strengthening efforts toward expanding its cloud services portfolio, data centers, availability zones and regions are likely to have helped it gain share in the highly competitive cloud market.
This apart, its robust real-time data, analytics and AI, along with its open and scalable cloud infrastructure, is expected to have helped win customers during the to-be-reported quarter.
The company’s deepening focus on generative AI might have been a major positive.
In the fourth quarter, Google introduced its new, advanced, powerful, large language model, namely Gemini, which comes in three different sizes, Gemini Ultra, Gemini Pro and Gemini Nano.
GOOGL announced the general availability of its suite of AI-powered assistance tools for code completion and generation, called Duet AI for Developers. It provides developers with real-time code suggestions, chat assistance and enterprise-focused customization. It focuses on code/boilerplate generation, inline code completion, code explanation and code security guardrails.
Also, the growing momentum with the Vertex AI platform is likely to have contributed well.
This apart, the solid adoption of generative AI-powered Workspace tools might have been another positive.
The growing efforts of Google Cloud to identify cyber threats and automate security workflows and responses on the back of generative AI are likely to be reflected in the upcoming results.
Zacks Rank & Stocks to Consider
Currently, Alphabet has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Arista Networks (ANET - Free Report) , Logitech International (LOGI - Free Report) and Itron (ITRI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks' shares have returned 116.5% over the past year. The long-term earnings growth rate for ANET is 19.77%.
Shares of Logitech International have returned 23.2% over the past year. The long-term earnings growth rate for LOGI is 15.75%.
Shares of Itron have risen 22.3% over the past year. The long-term earnings growth rate for ITRI is 23%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Logitech International S.A. (LOGI) - free report >>
Itron, Inc. (ITRI) - free report >>
|
https://www.zacks.com/stock/news/2216325/alphabet-googl-q4-earnings-to-benefit-from-google-cloud
| 2024-01-26T13:25:30Z
|
blocked_url
|
Intel Corporation (INTC - Free Report) reported better-than-expected fourth-quarter 2023 results, largely due to strong operating leverage, expense discipline and significant traction from its IDM 2.0 (integrated device manufacturing) strategy.
Net Income
The company reported GAAP earnings of $2,669 million or 63 cents per share against a loss of $664 million or a loss of 16 cents per share in the year-ago quarter. The significant improvement was primarily attributable to higher revenues and lower operating expenses.
Non-GAAP earnings in the reported quarter were $2,303 million or 54 cents per share compared with $635 million or 15 cents per share a year ago. The bottom line beat the Zacks Consensus Estimate by 10 cents.
For 2023, Intel recorded GAAP earnings of $1,689 million or 40 cents per share compared with $8,014 million or $1.94 per share in 2022. Non-GAAP earnings declined to $4,423 million or $1.05 per share from $6,891 million or $1.67 per share in 2022.
Revenues
GAAP revenues in the reported quarter were $15,406 million, up from $14,042 million a year ago. The quarterly revenues were well above the high end of the guided range, with better-than-expected performance across all lines of business. The top line beat the consensus estimate of $15,140 million.
For 2023, GAAP revenues were $54,228 million, down from $63,054 million in 2022.
Segment Performance
By segments, Client Computing Group (CCG, 57.4% of total revenues) revenues increased 33.1% year over year to $8,844 million. This was primarily due to strength in gaming and commercial segments with record notebook shipments. The segment revenues exceeded management expectations and were well above our estimates of $7,923 million. PC consumption in 2023 was approximately 270 million units, with customer inventory levels getting normalized.
Datacenter and AI Group (DCAI, 25.9%) revenues fell 9.9% year over year to $3,985 million owing to competitive pressures, CPU TAM (total addressable market) contraction and inventory correction. It also missed our estimates of $4,517 million. The company launched 5th Gen Intel Xeon processor in the quarter, which is optimized for AI workloads with up to 42% higher AI inference performance compared to its predecessor.
Network and Edge Group (NEX, 9.5%) revenues declined 23.6% to $1,471 million as elevated inventory levels and soft demand trends with sluggish recovery in China affected segment sales. The segment revenues fell short of our estimates of $1,688 million.
Mobileye (4.1%) revenues improved 12.7% to $637 million, primarily driven by higher demand for EyeQ products. Intel Foundry Services (IFS, 1.9%) revenues were $291 million, up 63.5% on increased traditional packaging revenues, while All Other (1.1%) revenues were $178 million, falling 42% year over year.
Other Operating Details
Non-GAAP gross margin improved to 48.8% from 43.8% a year ago, while non-GAAP operating margin improved from 4.3% to 16.7%.
CCG's operating income was up a stellar 451.1% year over year to $2,888 million on improved TAM, lower inventory reserves and cost discipline, while DCAI's operating income was $78 million, down from $126 million a year ago, primarily due to higher node development costs. NEX's operating loss was $12 million against an operating profit of $126 million on lower revenues, while that from Mobileye was up 15.2% to $242 million on higher revenues.
Cash Flow & Liquidity
As of Dec 31, 2023, Intel had cash and cash equivalents of $7,079 million, with $46,978 million of long-term debt compared with respective tallies of $11,144 million and $37,684 million in the prior-year period. In 2023, Intel generated $11,471 million of cash from operating activities compared with $15,433 million in 2022.
Outlook
For the first quarter of 2024, Intel offered muted guidance. It expects non-GAAP revenues to be $12.2-$13.2 billion due to material inventory corrections in Mobileye and a significant drop in IFS revenues. Non-GAAP gross margin is likely to be 44.5%. Non-GAAP earnings are expected to be around 13 cents per share.
Zacks Rank & Stocks to Consider
Intel currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Workday Inc. (WDAY - Free Report) , carrying a Zacks Rank #2 (Buy), delivered a trailing four-quarter average earnings surprise of 13.24%. In the last reported quarter, it delivered an earnings surprise of 9.29%. It has a long-term earnings growth expectation of 26.5%.
Workday is a provider of enterprise-level software solutions for financial management and human resource domains. The company’s cloud-based platform combines finance and HR in a single system that makes it easier for organizations to provide analytical insights and decision support.
Headquartered in Wilmington, DE, InterDigital, Inc. (IDCC - Free Report) is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks.
This Zacks Rank #2 stock has a long-term earnings growth expectation of 17.4% and has surged 75.3% in the past year. A well-established global footprint, diversified product portfolio and ability to penetrate different markets are key growth drivers for InterDigital. The addition of technologies related to sensors, user interface and video to its already strong portfolio of wireless technology solutions is likely to drive considerable value, given the massive size of the market it offers licensing technologies to.
Juniper Networks Inc. (JNPR - Free Report) , carrying a Zacks Rank #2, is a leading provider of networking solutions and communication devices. The company develops, designs and sells products that help build network infrastructure used for services and applications based on a single Internet protocol network worldwide. Juniper offers a broad range of routing, switching and security products.
It delivered an earnings surprise of 6.5%, on average, in the trailing four quarters. Juniper has a long-term earnings growth expectation of 9.9%. It has a VGM Score of B.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Intel Corporation (INTC) - free report >>
Juniper Networks, Inc. (JNPR) - free report >>
|
https://www.zacks.com/stock/news/2216326/intel-intc-beats-q4-earnings-estimates-on-higher-revenues
| 2024-01-26T13:25:36Z
|
blocked_url
|
Investors seeking momentum may have US Dividend and Buyback iShares ETF (DIVB - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of DIVB are up approximately 18.1% from their 52-week low of $35.29/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
DIVB In Focus
The underlying Morningstar US Dividend and Buyback Index is composed of U.S. stocks with a history of dividend payments and/or share buybacks. The fund charges 5 bps in fees.
Why The Move?
S&P 500’s buybacks were $185.6 billion in Q3 of 2023, up 6.1% from $174.9 billion recorded in Q2 of 2023. Total shareholders return of buybacks and dividends increased to $329.8 billion in Q3 of 2023, up 3.7% from Q2 of 2023's $318.1 billion. Moreover, we can expect interest rates to fall in the coming days as price inflation is apparently under control. Dividend ETFs normally outperform in a low-rate environment.
More Gains Ahead?
The fund has a positive weighted alpha of 10.89. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
|
https://www.zacks.com/stock/news/2216327/buyback-dividend-etf-divb-hits-new-52-week-high?-dividend-etf-(divb)-hits-new-52-week-high
| 2024-01-26T13:25:43Z
|
blocked_url
|
T-Mobile US, Inc. (TMUS - Free Report) reported mixed fourth-quarter 2023 results, with the top line beating the Zacks Consensus Estimate but the bottom line missing the same.
The Bellevue, WA-based wireless service providers reported a top-line expansion year over year, backed by industry-leading postpaid customer growth with a record low churn rate. T-Mobile continues to boast a leadership position in the 5G market. Its 5G coverage exceeds 330 million people, a greater footprint than AT&T and Verizon combined.
Net Income
Net income in the fourth quarter was $2,014 million or $1.67 per share, up from $1,477 million or $1.18 per share in the year-ago quarter. The 36.4% year-over-year growth was primarily driven by improvement in net sales and lower operating expenses. However, the bottom line fell short of the Zack Consensus Estimate of $1.90.
In 2023, the company reported a net income of $8,317 million or $6.93 per share, up from $2,590 million or $2.06 per share in 2022.
Revenues
Net sales during the quarter stood at $20,478 million, up from $20,273 million in the year-ago quarter. Despite declining equipment sales, solid growth in service revenue supported the top-line growth. The top line surpassed the Zacks Consensus Estimate of $19,692 million.
In 2023, TMUS generated $78,558 million in revenues compared with $79,571 million in 2022.
Segment Results
Total Service revenues were $16,043 million, up from $15,518 million in the year-ago quarter. The segment sales missed our revenue estimate of $16,187.5 million. The 3.4% year-over-year growth was primarily driven by solid demand for postpaid services. Net sales from Postpaid Services contributed $12,472 million in revenues, up 6% year over year.
During the quarter, T-Mobile added 1.6 million postpaid net customers, while postpaid net account additions were a staggering 299,000. Postpaid phone net customer additions were 934,000, the best in the industry. Postpaid phone churn rate was 0.96%, the lowest in the company’s history. High-speed Internet net customer additions were 541,000. Postpaid average revenues per account rose to $140.23 from $137.78 in the year-ago quarter.
Net sales from Prepaid services were $2,433 million, marginally down from $2,449 million in the year-earlier quarter. Prepaid net customer additions were 53,000 with a churn rate of 2.86%. Wholesale and other service revenues decreased to $1,138 million from $1,344 million in the year-earlier quarter. Prepaid ARPU (average revenues per user) declined to $37.55 from $38.29 in the year-ago quarter.
Equipment revenues were $4,174 million, down 6% year over year. The segment revenues beat our estimate of $3,073.9 million. Lower postpaid upgrades, driven by longer device lifecycles, led to a lower number of devices and accessories sold. Lower sales of prepaid and Assurance Wireless devices also impacted the top line in this vertical.
Other revenues were $261 million, down from the prior-year quarter’s tally of $304 million.
Other Details
Total operating expenses declined to $16,998 million from $17,526 million in the year-ago quarter. Consequently, operating income rose to $3,480 million from $2,747 million. T-Mobile recorded core adjusted EBITDA of $7,181 million compared with $6,582 million a year ago, backed by solid growth in service revenues.
Cash Flow & Liquidity
In the December quarter, T-Mobile generated $4,859 million of cash from operating activities compared with $4,336 million in the prior-year quarter. In 2023, the company generated $18,559 cash from operations compared to $16,781 million in 2022. Adjusted free cash flow was $4,305 million, up from $2,184 million in the year-earlier quarter. The growth was driven by improvement in operating cash flow and lower cash purchases of property and equipment.
As of Dec 31, 2023, the company had $5,135 million in cash and cash equivalents, with $69,903 million of long-term debt compared to the previous year’s tally of $4,507 million and $65,301 million, respectively. During the quarter, it repurchased 15.5 million shares for $2.2 billion.
Outlook
For 2024, the company expects postpaid net customer additions to be between 5 million and 5.5 million. Core adjusted EBITDA is estimated to be between $31.3-$31.9 billion. It anticipates cash from operating activities within $21.5-$22.3 billion. TMUS expects adjusted free cash flow in the band of $16.3-$16.9 billion. Capital expenditure is projected to be in the range of $8.6-$9.4 billion.
Zacks Rank & Stocks to Consider
T-Mobile currently carries a Zacks Rank #3 (Hold)
Here are some better-ranked stocks that investors may consider.
NVIDIA Corporation (NVDA - Free Report) , currently carrying a Zacks Rank #2 (Buy), delivered a trailing four-quarter average earnings surprise of 18.99%. In the last reported quarter, it delivered an earnings surprise of 19.64%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
Workday Inc. (WDAY - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 13.24%. In the last reported quarter, it delivered an earnings surprise of 9.29%.
Workday is a provider of enterprise-level software solutions for financial management and human resource domains. The company’s cloud-based platform combines finance and HR in a single system that makes it easier for organizations to provide analytical insights and decision support.
Arista Networks, Inc. (ANET - Free Report) , sporting a Zacks Rank #1 at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. Arista has delivered an earnings surprise of 12%, on average, in the trailing four quarters.
The company holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed data center segment. It is increasingly gaining market traction in 200 and 400-gig high-performance switching products and remains well-positioned for healthy growth in the data-driven cloud networking business with proactive platforms and predictive operations.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
NVIDIA Corporation (NVDA) - free report >>
Workday, Inc. (WDAY) - free report >>
|
https://www.zacks.com/stock/news/2216328/t-mobile-tmus-q4-earnings-miss-despite-higher-revenues
| 2024-01-26T13:25:49Z
|
blocked_url
|
Southside Bancshares (SBSI - Free Report) came out with quarterly earnings of $0.57 per share, missing the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -10.94%. A quarter ago, it was expected that this holding company for Southside Bank would post earnings of $0.77 per share when it actually produced earnings of $0.60, delivering a surprise of -22.08%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Southside Bancshares
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.
Southside Bancshares shares have lost about 0.9% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for Southside Bancshares?
While Southside Bancshares 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 Southside Bancshares: 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 $0.60 on $62.5 million in revenues for the coming quarter and $2.50 on $254 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 - Southwest is currently in the top 35% 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, FinWise Bancorp (FINW - Free Report) , is 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 earnings of $0.30 per share in its upcoming report, which represents a year-over-year change of -38.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
FinWise Bancorp's revenues are expected to be $18.68 million, down 16.7% from the year-ago quarter.
|
https://www.zacks.com/stock/news/2216329/southside-bancshares-sbsi-lags-q4-earnings-and-revenue-estimates
| 2024-01-26T13:25:55Z
|
blocked_url
|
There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that might be worth investigating is DFA US Small Cap Institutional (DFSTX - Free Report) . DFSTX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Dimensional is responsible for DFSTX, and the company is based out of Austin, TX. DFA US Small Cap Institutional made its debut in March of 1992, and since then, DFSTX has accumulated about $13.39 billion in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 12.45%, and it sits in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of 9.94%, which places it in the top third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 20.57%, the standard deviation of DFSTX over the past three years is 20.31%. Over the past 5 years, the standard deviation of the fund is 23.57% compared to the category average of 23.77%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 1.13, the fund is likely to be more volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. DFSTX has generated a negative alpha over the past five years of -3.59, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Exploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is mostly on equities that are traded in the United States.
As of the last filing date, the mutual fund has 98.99% of its assets in stocks, with an average market capitalization of $5.30 billion. Turnover is about 16%, so those in charge of the fund make fewer trades than its comparable peers.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, DFSTX is a no load fund. It has an expense ratio of 0.27% compared to the category average of 1.01%. So, DFSTX is actually cheaper than its peers from a cost perspective.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, DFA US Small Cap Institutional ( DFSTX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, DFA US Small Cap Institutional ( DFSTX ) looks like a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare DFSTX to its peers as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
|
https://www.zacks.com/stock/news/2216330/is-dfa-us-small-cap-institutional-dfstx-a-strong-mutual-fund-pick-right-now?
| 2024-01-26T13:26:01Z
|
blocked_url
|
If investors are looking at the Mutual Fund Equity Report fund category, make sure to pass over American Funds New World A (NEWFX - Free Report) . NEWFX bears a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
NEWFX is a part of the American Funds family of funds, a company based out of Los Angeles, CA. Since American Funds New World A made its debut in June of 1999, NEWFX has garnered more than $11.61 billion in assets. The fund's current manager is a team of investment professionals.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 8.48%, and it sits in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of -1.89%, which places it in the top third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, NEWFX's standard deviation comes in at 15.95%, compared to the category average of 14.45%. The fund's standard deviation over the past 5 years is 18.1% compared to the category average of 15.62%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 0.88, which means it is hypothetically less volatile than the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. Over the past 5 years, the fund has a negative alpha of -4.76. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, NEWFX is a load fund. It has an expense ratio of 1% compared to the category average of 0.97%. NEWFX is actually more expensive than its peers when you consider factors like cost.
Investors need to be aware that with this product, the minimum initial investment is $250; each subsequent investment needs to be at least $50.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, American Funds New World A ( NEWFX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, American Funds New World A ( NEWFX ) looks like a poor potential choice for investors right now.
This could just be the start of your research on NEWFXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
|
https://www.zacks.com/stock/news/2216331/is-american-funds-new-world-a-newfx-a-strong-mutual-fund-pick-right-now?
| 2024-01-26T13:26:08Z
|
blocked_url
|
Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with Fidelity Focused Stock Fund (FTQGX - Free Report) . FTQGX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FTQGX. Since Fidelity Focused Stock Fund made its debut in November of 1996, FTQGX has garnered more than $2.88 billion in assets. The fund is currently managed by Stephen DuFour who has been in charge of the fund since March of 2007.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 16.06%, and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 6.35%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of FTQGX over the past three years is 18.74% compared to the category average of 20.93%. Over the past 5 years, the standard deviation of the fund is 19.36% compared to the category average of 21.17%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 1, which means it is hypothetically as volatile as the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. FTQGX has generated a positive alpha over the past five years of 0.58, demonstrating that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FTQGX is a no load fund. It has an expense ratio of 0.57% compared to the category average of 0.94%. From a cost perspective, FTQGX is actually cheaper than its peers.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity Focused Stock Fund ( FTQGX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Fidelity Focused Stock Fund ( FTQGX ) looks like a somewhat average choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
|
https://www.zacks.com/stock/news/2216332/is-fidelity-focused-stock-fund-ftqgx-a-strong-mutual-fund-pick-right-now?
| 2024-01-26T13:26:14Z
|
blocked_url
|
Have you been searching for a Mutual Fund Equity Report fund? You might want to begin with Fidelity Advisor Biotechnology A (FBTAX - Free Report) . FBTAX bears a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
Fidelity is based in Boston, MA, and is the manager of FBTAX. Fidelity Advisor Biotechnology A debuted in December of 2000. Since then, FBTAX has accumulated assets of about $647.88 million, according to the most recently available information. Eirene Kontopoulos is the fund's current manager and has held that role since July of 2018.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. FBTAX has a 5-year annualized total return of 10.29% and is in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of -0.59%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 14.86%, the standard deviation of FBTAX over the past three years is 20.65%. The standard deviation of the fund over the past 5 years is 21.42% compared to the category average of 15.93%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. FBTAX has a 5-year beta of 0.64, which means it is likely to be less volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. The fund has produced a positive alpha over the past 5 years of 0.87, which shows that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, FBTAX is a load fund. It has an expense ratio of 1% compared to the category average of 1%. So, FBTAX is actually on par with its peers from a cost perspective.
This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity Advisor Biotechnology A ( FBTAX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, worse downside risk, and on par fees, this fund looks like a somewhat average choice for investors right now.
Want even more information about FBTAX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.
|
https://www.zacks.com/stock/news/2216333/is-fidelity-advisor-biotechnology-a-fbtax-a-strong-mutual-fund-pick-right-now?
| 2024-01-26T13:26:20Z
|
blocked_url
|
Advanced Micro Devices (AMD - Free Report) is set to release its fourth-quarter 2023 results on Jan 30.
AMD expects fourth-quarter 2023 revenues to be $6.1 billion (+/-$300 million), which indicates year-over-year growth of 9% and 5% sequentially at the mid-point.
It expects to witness year-over-year growth in the Data Center and Client segments by double-digit percentage. The Gaming segment is expected to decline due to the matured console cycle. Softness in the embedded market will likely hurt Embedded revenues.
Sequentially, Data Center segment revenues are expected to grow on a double-digit percentage, while Client is expected to increase. However, Gaming and Embedded segment revenues are expected to decline by a double-digit percentage.
The Zacks Consensus Estimate for revenues is pegged at $6.11 billion, suggesting growth of 9.2% year over year.
The consensus estimate for fourth-quarter earnings is pegged at 77 cents per share, unchanged over the past 30 days. The figure indicates growth of 11.59% on a year-over-year basis.
AMD’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the earnings surprise being 4.10%, on average.
Let’s see how things are shaping up for the upcoming announcement.
Factors at Play
AMD’s fourth-quarter top-line growth is expected to have benefited from an improving PC market, particularly the consumer side. Per Gartner’s latest report, global PC shipments totaled 63.3 million units in the fourth quarter of 2023, up 0.3% year over year.
The reintroduction of the Ryzen Threadripper 7000 Series processors for high-end desktop users is noteworthy. AMD also introduced its flagship laptop graphics processor, Radeon RX 7900M, the fastest AMD Radeon GPU ever developed for laptops.
The Zacks Consensus Estimate for Client revenues is pegged at $1.496 billion, indicating 65.7% year-over-year growth.
AMD’s strong data center footprint is expected to benefit top-line growth. The company continues to strengthen its footprint in the enterprise data center arena by leveraging the power of fourth-generation EPYC CPUs and Pensando data processing units.
AMD continues to make strides in the data center market by launching Ryzen Threadripper PRO 7000 WX-Series processors for professionals and businesses, offering top-tier performance and security.
AMD, along with its partners, continues to offer solutions that enable greater data center consolidation. Its partnerships with the likes of Dell Technologies (DELL - Free Report) , Microsoft (MSFT - Free Report) , Amazon Web Services (“AWS”), Alibaba and Oracle have been key catalysts.
AMD expanded its data center footprint with the new Instinct MI300X accelerator. It combines CDNA 3 architecture and Zen 4 CPUs to deliver robust performance for HPC and AI workloads. Partners like Microsoft, Oracle and Dell are already using the accelerators in its systems.
Microsoft is using AMD’s Instinct accelerator portfolio in its new Azure ND MI300x v5 virtual machine series, optimized for AI workloads.
Moreover, Oracle Cloud Infrastructure plans to add AMD Instinct MI300X-based bare metal instances to its high-performance accelerated computing instances for AI.
Dell has demonstrated its PowerEdge XE9680 server, which features eight AMD Instinct MI300 series accelerators and the new Dell Validated Design for Generative AI with AMD ROCm-powered AI frameworks.
AMD’s acquisition of Nod.ai, a compiler-based automation software provider, further strengthened its capabilities to develop software-driven technology, accelerating AI solutions’ deployment for its various product lines, including data center accelerators, processors and GPUs.
The acquisition has strengthened AMD’s competitive position against NVIDIA (NVDA - Free Report) in the software market.
Through its CUDA toolkit, NVIDIA offers a development environment for creating high-performance GPU-accelerated applications.
The consensus estimate for Data Center revenues is pegged at $2.29 billion, suggesting 38.5% growth year over year.
Key Q4 Developments
AMD announced a new Ryzen 8040 series processor with Ryzen AI and Instinct MI300 Series data center AI accelerators in the to-be-reported quarter. The company also introduced the ROCm 6 open software stack with significant optimizations and new features supporting Large Language Models.
AMD, in collaboration with Microsoft, highlighted the integration of AMD Instinct MI300X accelerators, EPYC CPUs and Ryzen CPUs with AI engines in Azure, advancing cloud computing, confidential computing, and empowering more intelligent PCs for diverse workloads.
AMD introduced the Ryzen Embedded 7000 Series processors at Smart Production Solutions 2023, featuring Zen 4 architecture and integrated Radeon graphics, catering to the high-performance demands of industrial applications with a seven-year manufacturing commitment and support for various operating systems, including Windows Server and Linux Ubuntu.
AMD introduced the AMD Radeon PRO W7700, an industry-leading professional workstation graphics card priced under $1,000, delivering unmatched reliability, stability, and exceptional price and performance for content creation, CAD and AI applications.
AMD announced the extension of its third Gen AMD EPYC processor family with six new offerings, providing a robust suite of data center CPUs.
It announced the much-anticipated Ryzen Threadripper PRO 7000 WX-Series processors and reintroduced the Threadripper processor lineup to the high-end desktop space with the Ryzen Threadripper 7000 Series processors.
AMD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Advanced Micro Devices, Inc. (AMD) - free report >>
Microsoft Corporation (MSFT) - free report >>
|
https://www.zacks.com/stock/news/2216335/what-awaits-advanced-micro-devices-amd-in-q4-earnings?
| 2024-01-26T13:26:26Z
|
blocked_url
|
Skyworks Solutions (SWKS - Free Report) is slated to release first-quarter fiscal 2024 results on Jan 30.
For the fiscal first quarter, revenues are expected between $1.175 billion and $1.225 billion.
Non-GAAP earnings are anticipated to be $1.95 per share at the mid-point of this guidance.
The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $1.20 billion, indicating a 9.44% year-over-year decline.
The consensus mark for earnings has remained steady at $1.95 per share in the past 30 days. The projection indicates a 24.71% decline from that reported in the year-ago quarter.
Skyworks’ earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 2.21%.
Let’s see how things might have shaped up prior to the announcement.
Factors Likely to Have Influenced Q1 Performance
Skyworks' fiscal first-quarter performance is expected to have benefited from the improved demand for smartphones. The company is poised to benefit from its position in the global smartphone market, presenting a significant growth opportunity.
According to Canalys' latest research findings, global smartphone shipments witnessed 8% year-over-year growth in the fourth quarter of 2023, reaching a total of 320 million units.
The company is expected to have benefited from 5G design wins for premium Android smartphones, securing partnerships with major players like Google and Samsung. This positions Skyworks to capitalize on the ongoing adoption of high-performance solutions by key customers.
Skyworks is expected to have benefited from the rapid expansion of IoT, the electrification of vehicles and the high-speed connectivity for AI-enabled data-intensive infrastructure in cloud applications.
SWKS' robust uptake of Wi-Fi 6 and 6E solutions is expected to have driven Skyworks’ top line in the fiscal first quarter. A growing need for high-speed connectivity has driven demand amid the pandemic-induced surge in hybrid work environments, video-streaming and web-based learning trends.
However, a challenging macroeconomic environment is expected to have hurt Skyworks’ top-line growth rate in the to-be-reported quarter. Additionally, stiff competition has been a headwind.
What Our Model Says
Per the Zacks model, 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. But that’s not the case here.
Skyworks has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Meta Platform (META - Free Report) has an Earnings ESP of +1.46% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meta Platform is set to announce fourth-quarter 2023 results on Feb 1. META’s shares have risen 0.2% in the past six months.
Twilio (TWLO - Free Report) has an Earnings ESP of +31.37% and a Zacks Rank #2 at present.
Twilio is set to announce fourth-quarter 2023 results on Feb 14. TWLO’s shares have risen 18.7% in the past six months.
Bill Holdings (BILL - Free Report) has an Earnings ESP of +6.17% and a Zacks Rank #3 at present.
Bill Holdings is set to announce second-quarter fiscal 2024 results on Feb 8. BILL’s shares have lost 38.4% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Skyworks Solutions, Inc. (SWKS) - free report >>
Twilio Inc. (TWLO) - free report >>
|
https://www.zacks.com/stock/news/2216336/skyworks-swks-to-report-q1-earnings-whats-in-the-cards?
| 2024-01-26T13:26:33Z
|
blocked_url
|
KLA Corporation (KLAC - Free Report) reported second-quarter fiscal 2024 non-GAAP earnings of $6.16 per share, beating the Zacks Consensus Estimate by 4.76%. The figure declined 16.5% year over year.
Revenues decreased 16.7% year over year to $2.49 billion, surpassing the Zacks Consensus Estimate by 1.25%. Sequentially, revenues increased 4%.
The year-over-year decline in the top line was attributed to softness in the Semiconductor Process Control, Specialty Semiconductor Process, and PCB, Display and Component Inspection segments.
In terms of reportable segments, Semiconductor Process Control revenues (88.2% of total revenues) decreased 17.4% year over year to $2.19 billion. Sequentially, revenues increased 3%.
Foundry & Logic accounted for about 56%, while Memory constituted about 44% of Semiconductor Process Control revenues. Within memory, approximately 89% was from DRAM and 11% was from NAND.
Specialty Semiconductor Process revenues (6% of total revenues) were $150.1 million, down 5.1% year over year. Revenues jumped 18% on a sequential basis. This group is benefiting from strong demand in automotive, 5G and advanced packaging.
PCB, Display and Component Inspection revenues (5.8% of total revenues) plunged 15.8% year over year to $143 million. Limited capacity investments in consumer electronics end markets hurt top-line growth. Sequentially, revenues increased 5%.
KLA shares were down 6% in after-hours trading. The company’s shares have outperformed the Zacks Computer & Technology sector in the past six-month period. While KLAC shares have gained 33%, the Computer & Technology sector has increased 14.3%.
Top Line Details
Product revenues (accounted for 77.3% of total revenues) decreased 22% year over year to $1.92 billion. Service revenues (22.7% of total revenues) increased 8.5% year over year to $564.9 million.
In terms of major products, Wafer Inspection and Patterning Systems (including metrology and reticle inspection) accounted for 47% and 17%, respectively, of KLA’s total revenues for the fiscal second quarter.
Wafer Inspection revenues declined 7% year over year but increased 15% sequentially to $1.17 billion. Patterning revenues declined 50% year over year and 21% sequentially to $430 million.
In terms of regional breakdown of revenues, China, Taiwan, Japan and Korea accounted for 41%, 15%, 12% and 12% of the total revenues for the fiscal second quarter, respectively. Further, North America, Europe and the Rest of Asia accounted for 11%, 5%, and 4%, respectively.
Operating Details
In second-quarter fiscal 2024, the non-GAAP gross margin was 62.6%, 10 basis points (bps) above the guidance range.
Research and development (R&D) expenses decreased 3.7% year over year to $320.4 million. As a percentage of sales, R&D expenses expanded 170 bps year over year to 13%.
Selling, general and administrative (SG&A) expenses decreased 2.4% year over year to $237.2 million. As a percentage of sales, SG&A expenses expanded 140 bps year over year to 9.5%.
Non-GAAP operating expenses were $544 million, slightly above the estimated $540 million for the reported quarter. Non-GAAP operating expenses were comprised of $320 million in R&D and $224 million in SG&A expenses.
The fiscal second-quarter non-GAAP operating margin was 40.7%, up 50 bps sequentially.
Balance Sheet
As of Dec 31, 2023, cash, cash equivalents and marketable securities totaled $3.34 billion compared with $3.24 billion as of Sep 30, 2023.
Long-term debt at the end of the fiscal second quarter was $5.14 billion, down from $5.89 billion reported in the previous quarter.
Cash flow from operating activities was $622.2 million for the reported quarter, down from $883.7 billion in the prior quarter. Free cash flow was $545.4 million for the fiscal second quarter.
During the fiscal second quarter, KLAC paid out $197 million in dividends and repurchased $438 million worth of shares.
Third-Quarter Fiscal 2024 Guidance
For third-quarter fiscal 2024, revenues are expected to be $2.34 billion, plus/minus $125 million. The Zacks Consensus Estimate for revenues is pegged at $2.36 billion, indicating a 13.35% decline year over year.
KLA expects non-GAAP earnings of $5.26 per share, plus/minus 60 cents. The Zacks Consensus Estimate for non-GAAP earnings is pegged at $5.39 per share, suggesting a year-over-year decline of 23.65%.
KLA expects a non-GAAP gross margin of 61.5%, plus/minus 1%. Operating expenses in the March quarter are expected to be approximately $545 million.
Zacks Rank & Other Stocks to Consider
Currently, KLA carries a Zacks Rank #2 (Buy).
Shopify (SHOP - Free Report) , Pinterest (PINS - Free Report) and AvidXchange (AVDX - Free Report) are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shopify shares have gained 25.8% in the past six-month period. SHOP is set to report its fourth-quarter 2023 results on Feb 13.
Pinterest shares have gained 37.7% in the past six-month period. PINS is set to report its fourth-quarter 2023 results on Feb 8.
AvidXchange shares have declined 9.5% in the past six-month period. AVDX is set to report its fourth-quarter 2023 results on Feb 28.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
KLA Corporation (KLAC) - free report >>
Shopify Inc. (SHOP) - free report >>
|
https://www.zacks.com/stock/news/2216337/klas-klac-q2-earnings-revenues-beat-estimates-fall-yy?-revenues-beat-estimates,-fall-y/y
| 2024-01-26T13:26:39Z
|
blocked_url
|
Autoliv, Inc. (ALV - Free Report) came out with quarterly earnings of $3.74 per share, beating the Zacks Consensus Estimate of $3.25 per share. This compares to earnings of $1.83 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 15.08%. A quarter ago, it was expected that this company would post earnings of $1.74 per share when it actually produced earnings of $1.66, delivering a surprise of -4.60%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Autoliv, 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.
Autoliv, Inc. Shares have lost about 6% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for Autoliv, Inc.
While Autoliv, 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 Autoliv, 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 $1.80 on $2.54 billion in revenues for the coming quarter and $9.85 on $10.91 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, Automotive - Original Equipment is currently in the top 44% 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.
OPENLANE (KAR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended December 2023.
This used and salvaged vehicle auctioneer is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -60.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
OPENLANE's revenues are expected to be $395.76 million, up 6.2% from the year-ago quarter.
|
https://www.zacks.com/stock/news/2216339/autoliv-inc-alv-q4-earnings-and-revenues-top-estimates
| 2024-01-26T13:26:45Z
|
blocked_url
|
First Citizens BancShares (FCNCA - Free Report) came out with quarterly earnings of $46.58 per share, missing the Zacks Consensus Estimate of $48.49 per share. This compares to earnings of $20.94 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -3.94%. A quarter ago, it was expected that this bank would post earnings of $48.35 per share when it actually produced earnings of $55.92, delivering a surprise of 15.66%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
First Citizens
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 Citizens shares have lost about 0.5% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for First Citizens?
While First Citizens 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 Citizens: 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 $46.53 on $2.31 billion in revenues for the coming quarter and $188.57 on $9.25 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 23% 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, Capstar Financial (CSTR - Free Report) , has yet to report results for the quarter ended December 2023.
This bank holding company is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of -27.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Capstar Financial's revenues are expected to be $28.8 million, down 7.8% from the year-ago quarter.
|
https://www.zacks.com/stock/news/2216340/first-citizens-bancshares-fcnca-misses-q4-earnings-estimates
| 2024-01-26T13:26:51Z
|
blocked_url
|
BankUnited, Inc. (BKU - Free Report) came out with quarterly earnings of $0.72 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this company would post earnings of $0.71 per share when it actually produced earnings of $0.63, delivering a surprise of -11.27%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
BankUnited, 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.
BankUnited, Inc. Shares have lost about 7.2% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for BankUnited, Inc.
While BankUnited, 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 BankUnited, Inc. 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 $0.73 on $243.84 million in revenues for the coming quarter and $2.96 on $990.77 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 - Major Regional is currently in the top 13% 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 broader Zacks Finance sector, MetLife (MET - Free Report) , is yet to report results for the quarter ended December 2023. The results are expected to be released on January 31.
This insurer is expected to post quarterly earnings of $1.95 per share in its upcoming report, which represents a year-over-year change of +25.8%. The consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level.
MetLife's revenues are expected to be $18.07 billion, up 14.1% from the year-ago quarter.
|
https://www.zacks.com/stock/news/2216341/bankunited-inc-bku-matches-q4-earnings-estimates
| 2024-01-26T13:26:58Z
|
blocked_url
|
Booz Allen Hamilton (BAH - Free Report) came out with quarterly earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $1.07 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 24.78%. A quarter ago, it was expected that this defense contractor would post earnings of $1.31 per share when it actually produced earnings of $1.29, delivering a surprise of -1.53%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Booz Allen
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.
Booz Allen shares have added about 0.8% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for Booz Allen?
While Booz Allen 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 Booz Allen: 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 $1.14 on $2.61 billion in revenues for the coming quarter and $5.03 on $10.47 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, Government Services is currently in the top 5% 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, Maximus (MMS - Free Report) , is yet to report results for the quarter ended December 2023. The results are expected to be released on February 7.
This government health services provider is expected to post quarterly earnings of $1.28 per share in its upcoming report, which represents a year-over-year change of +36.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Maximus' revenues are expected to be $1.28 billion, up 2.7% from the year-ago quarter.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Booz Allen Hamilton Holding Corporation (BAH) - free report >>
|
https://www.zacks.com/stock/news/2216342/booz-allen-hamilton-bah-q3-earnings-and-revenues-surpass-estimates
| 2024-01-26T13:27:04Z
|
blocked_url
|
UGI Corporation (UGI - Free Report) is scheduled to release first-quarter fiscal 2024 earnings on Jan 31, after market close. The company delivered a negative earnings surprise of 150% in the last quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play
UGI Corporation’s first-quarter earnings are likely to have benefited from the improvement in demand, driven by the addition of customers, new gas base rates at its Pennsylvania gas utility and contributions from acquired assets.
Increasing operating expenses in the natural gas business may have a negative impact on UGI. Lower margins and volumes in UGI’s Global LPG business are also expected to offset some of the upsides.
Expectation
The Zacks Consensus for UGI Corporation’s earnings is pegged at $1.12 per share, implying a year-over-year decline of 1.75%.
The Zacks Consensus Estimate for first-quarter sales stands at $2.98 billion, suggesting an increase of 7.95% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for UGI Corporation this time. 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. However, that is not the case here, as you will see below.
Earnings ESP: UGI has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, UGI carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to beat on earnings in the upcoming releases.
CMS Energy (CMS - Free Report) is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings on Feb 1 before market open. It has an Earnings ESP of +0.67% and a Zacks Rank of 3 at present.
IDACORP (IDA - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings soon. It has an Earnings ESP of +2.52% and presently carries a Zacks Rank of 2.
NiSource (NI - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings soon. It has an Earnings ESP of +1.92% and carries a Zacks Rank of 2 at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
NiSource, Inc (NI) - free report >>
CMS Energy Corporation (CMS) - free report >>
|
https://www.zacks.com/stock/news/2216343/ugi-corporation-ugi-to-post-q1-earnings-whats-in-the-cards?
| 2024-01-26T13:27:10Z
|
blocked_url
|
Fair Isaac (FICO - Free Report) reported first-quarter fiscal 2024 earnings of $4.81 per share, missing the Zacks Consensus Estimate by 0.41% but rising 13% year over year.
Revenues of $382.1 million increased 10.8% on a year-over-year basis but lagged the consensus mark by 1.16%. Americas, EMEA and Asia Pacific contributed 85%, 9% and 6% to total revenues, respectively.
Mortgage originations revenues increased 188%. Auto originations revenues declined 3% year over year. Credit card and personal loan revenues declined 5%.
The company’s shares have outperformed the Zacks Computer & Technology sector year to date. While FICO’s shares have gained 47%, the Computer & Technology sector has increased 38.4%.
Top-Line Details
Software revenues, which include Fair Isaac’s analytics and digital decisioning technology, as well as associated professional services, increased 13.8% year over year to $189.9 million.
Software Annual Recurring Revenues (ARR) increased 18% year over year, consisting of 43% platform ARR growth and 11% non-platform growth. Software Dollar-Based Net Retention Rate was 114% in the fiscal first quarter, with platform software at 136% and non-platform software at 108%.
Annual contract value bookings decreased 15% year over year to $18.3 million.
On-premises and SaaS Software (44.1% of revenues) increased 16.7% year over year to $168.7 million. Professional services (5.6% of revenues) were $21.3 million, down 4.7% year over year.
Scores (50.3% of revenues) increased 7.9% year over year to $192.1 million. Scores include FICO’s business-to-business (B2B) scoring solutions and business-to-consumer (B2C) scoring solutions.
B2B revenues increased 12% year over year, driven primarily by unit price increases, partially offset by declines in mortgage origination volumes. B2C revenues dropped 3% year over year due to lower volumes on myFICO.com business.
Operating Details
Research & development expenses, as a percentage of revenues, increased 50 basis points (bps) on a year-over-year basis to 11.2%.
Selling, general and administrative expenses, as a percentage of revenues, increased 30 bps year over year to 27.3%.
Operating margin was 39.6% in the reported quarter, which contracted 110 bps year over year.
Balance Sheet & Cash Flow
As of Dec 31, 2023, FICO had $160.4 million in cash and cash equivalents and total debt was $1.87 billion. In comparison, as of Sep 30, 2023, FICO had $136 million in cash and cash equivalents and total debt of $1.87 billion.
Cash flow from operations was $122.1 million in the fiscal first quarter compared with $164 million in the previous quarter. Free cash flow was $120.8 million compared with $163 million reported in the previous quarter.
Guidance
For fiscal 2024, FICO anticipates revenues to be $1.675 billion.
Non-GAAP earnings are still projected to be $22.45 per share.
Zacks Rank & Other Stocks to Consider
Currently, FICO carries a Zacks Rank #2 (Buy).
Shopify (SHOP - Free Report) , Pinterest (PINS - Free Report) and AvidXchange (AVDX - Free Report) are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shopify shares have gained 25.8% in the past six-month period. SHOP is set to report its fourth-quarter 2023 results on Feb 13.
Pinterest shares have gained 37.7% in the past six-month period. PINS is set to report its fourth-quarter 2023 results on Feb 8.
AvidXchange shares have declined 9.5% in the past six-month period. AVDX is set to report its fourth-quarter 2023 results on Feb 28.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Fair Isaac Corporation (FICO) - free report >>
Shopify Inc. (SHOP) - free report >>
|
https://www.zacks.com/stock/news/2216345/fair-isaac-fico-q1-earnings-lag-estimates-revenues-up-yy
| 2024-01-26T13:27:16Z
|
blocked_url
|
Parker-Hannifin Corporation (PH - Free Report) is slated to release second-quarter fiscal 2024 (ended Dec 31, 2023) results on Feb 1, before market open.
The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 11.8%.
Let’s see how things have shaped up for Parker-Hannifin’s fiscal second-quarter earnings.
Factors to Note
Strength across end markets and higher orders are expected to have driven Parker-Hannifin’s fiscal second-quarter performance.
The company’s Diversified Industrial segment is expected to have benefited from higher demand for its products across the oil and gas, material handling, farm and agriculture end markets in the North American region and strength in Europe and Latin America within the international region.
The Zacks Consensus Estimate for net sales in the Diversified Industrial North America segment is pegged at $2,168 million, indicating a 1.3% increase from the year-ago reported figure. The consensus estimate for the Diversified Industrial International segment, which is pinned at $1,393 million, relatively flat year-over-year.
Solid momentum in Parker-Hannifin’s commercial and military aftermarket businesses is expected to have buoyed the Aerospace Systems segment’s revenues in the to-be-reported quarter. The acquisition of Meggitt plc in September 2022 strengthened the segment, expanding its presence in the U.K. The Zacks Consensus Estimate for the Aerospace segment’s revenues is pegged at $1,271 million, suggesting an 11.9% jump from the year-ago reported number.
Benefits from the Win Strategy, which focuses on innovation, strategic positioning and pricing actions, are expected to have aided PH’s margins in the to-be-reported quarter. The Zacks Consensus Estimate for Parker-Hannifin’s fiscal second-quarter total revenues is pegged at $4,825 million, indicating year-over-year growth of 3.2%. The consensus estimate for the company’s earnings is pegged at $5.24, suggesting year-over-year growth of 10.1%.
However, the escalating operating costs and expenses due to rising input costs and foreign currency headwinds might have an adverse impact on Parker-Hannifin’s results in the fiscal second quarter.
Earnings Whispers
Our proven model suggests an earnings beat for Parker-Hannifin 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, which is the case here, as elaborated below.
Earnings ESP: Parker-Hannifin has an Earnings ESP of +0.58% as the Most Accurate Estimate is pegged at $5.27, higher than the Zacks Consensus Estimate of $5.24. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Parker-Hannifin presently carries a Zacks Rank #2.
Other Stocks With the Favorable Combination
Here are a few other companies that, according to our model, have the right combination to beat on earnings this reporting cycle:
Graco Inc. (GGG - Free Report) currently has an Earnings ESP of +4.87% and a Zacks Rank #2. The company is scheduled to release fourth-quarter results on Jan 29. You can see the complete list of today’s Zacks #1 Rank stocks here. Graco pulled off a trailing four-quarter earnings surprise of 7.2%, on average.
Ingersoll Rand plc (IR - Free Report) has an Earnings ESP of +0.98% and a Zacks Rank #3. The company is slated to release fourth-quarter results on Feb 15. IR delivered a trailing four-quarter earnings surprise of 16.1%, on average.
Xylem Inc. (XYL - Free Report) has an Earnings ESP of +1.40% and a Zacks Rank #3. The company is slated to release fourth-quarter results on Feb 6. Xylem delivered a trailing four-quarter earnings surprise of 14.4%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Parker-Hannifin Corporation (PH) - free report >>
Graco Inc. (GGG) - free report >>
|
https://www.zacks.com/stock/news/2216346/parker-hannifin-ph-to-post-q2-earnings-is-a-beat-in-store?
| 2024-01-26T13:27:23Z
|
blocked_url
|
After the closing bell on Jan 24, International Business Machines (IBM - Free Report) reported solid fourth-quarter 2023 results. IBM shares gained as much as 9.5% in the key trading session on Jan 25, 2024. The company ended 2023 on a positive note with strong fourth-quarter results, wherein both the top and bottom lines beat the respective Zacks Consensus Estimate. The company witnessed healthy demand for hybrid cloud and AI solutions with a client-focused portfolio and broad-based growth.
For full-year 2024, the Zacks Rank #2 (Buy) company expects revenue growth in the mid-single digit on a constant currency basis. Free cash flow is expected to be in the vicinity of $12 billion. The stock hails from a top-ranked Zacks Sector (top 31%) and top-ranked Zacks industry (top 45%). The stock has a dividend yield of 3.82% annually.
This has put focus on IBM-heavy ETFs like FT Vest DJIA Dogs 10 Target Income ETF (DOGG - Free Report) , First Trust NASDAQ Technology Dividend Index Fund (TDIV - Free Report) , FT Vest Technology Dividend Target Income ETF (TDVI - Free Report) , Invesco Dow Jones Industrial Average Dividend ETF (DJD - Free Report) and First Trust Morningstar Dividend Leaders Index Fund (FDL - Free Report) . These ETFs have exposure to IBM in the range of 10.6% to 5%.
Net Income
On a GAAP basis, net income from continuing operations was $3,285 million or $3.54 per share compared with $2,711 million or $3.13 per share in the year-ago quarter. The improvement in GAAP earnings was primarily attributable to top-line growth.
Excluding non-recurring items, non-GAAP net income from continuing operations was $3.87 per share compared with $3.60 in the prior-year quarter. The bottom line beat the Zacks Consensus Estimate by 9 cents.
For 2023, GAAP net income from continuing operations was $7,514 million or $8.15 per share compared with $1,783 million or $1.95 per share in 2022. Non-GAAP net income from continuing operations was $9.62 per share compared with $9.13 in 2022.
Quarter Details
Quarterly total revenues increased to $17,381 million from $16,690 million on strong demand for hybrid cloud and AI, driving growth in the Software and Consulting segments. On a constant currency basis, revenues were up 3% year over year. The top line beat the consensus estimate of $17,279 million.
Gross profit was $10,267 million compared with $9,632 million in the prior-year quarter, resulting in respective gross margins of 59.1% and 57.7% owing to a strong portfolio mix. Total expenses increased to $6,509 million from $6,320 million, driven by higher interest expense and R&D costs.
IBM said software revenue came to $7.51 billion, up 3% but less than the $7.67 billion consensus among analysts surveyed by StreetAccount, as quoted on CNBC. Consulting revenue, at $5.05 billion, jumped about 6% but fell shy of the $5.12 bllion StreetAccount consensus.
Revenue from infrastructure, such as mainframe computers, totaled $4.60 billion, up around 3%. Thus beat the StreetAccount consensus of $4.28 billion. The distributed infrastructure category in particular, containing servers with IBM’s Power chips, accelerated to 8% growth, compared to a decline of 4% in the third quarter.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
International Business Machines Corporation (IBM) - free report >>
First Trust Morningstar Dividend Leaders ETF (FDL) - free report >>
Invesco Dow Jones Industrial Average Dividend ETF (DJD) - free report >>
First Trust NASDAQ Technology Dividend ETF (TDIV) - free report >>
FT Vest DJIA Dogs 10 Target Income ETF (DOGG) - free report >>
FT Vest Technology Dividend Target Income ETF (TDVI) - free report >>
|
https://www.zacks.com/stock/news/2216347/ibm-shares-surges-post-upbeat-q4-etfs-in-focus
| 2024-01-26T13:27:29Z
|
blocked_url
|
Applied Industrial Technologies (AIT - Free Report) reported second-quarter fiscal 2024 (ended Dec 31, 2023) earnings of $2.24 per share, which surpassed the Zacks Consensus Estimate of $2.11. The bottom line jumped 9.3% year over year.
Net sales of $1,077.2 million outperformed the consensus estimate of $1,061 million. The top line inched up 1.6% year over year. Acquisitions boosted the top line by 1.4%, while foreign-currency translation had a positive impact of 0.3%. However, organic sales decreased 0.1% year over year.
Segmental Discussion
The Service Center-Based Distribution segment’s revenues, which contributed 67.7% to net revenues, totaled $729.3 million in the quarter under review. On a year-over-year basis, the segment’s revenues increased 3.4%. Our estimate for segmental revenues was $714.5 million. Organic sales grew 1.4%. Foreign currency translation increased sales by 0.4%, while acquisitions boosted sales by 1.6%. Segmental revenues were driven by benefits from sales process initiatives, solid growth across national accounts and strength in fluid power maintenance, repair, and operations in the United States.
The Engineered Solutions segment’s revenues (formerly Fluid Power & Flow Control segment), which contributed 32.3% to net revenues, totaled $347.9 million in the reported quarter. On a year-over-year basis, the segment’s revenues decreased 2%. Our estimate for the Engineered Solutions segment’s revenues in the fiscal second quarter was $346.4 million. Acquisitions boosted the top line by 1.0%. Organic sales decreased 3% due to reduced activity across the technology sector.
Margin Profile
In the reported quarter, Applied Industrial’s cost of sales increased 1.1% year over year to $760.1 million. Gross profit in the quarter increased 2.8% year over year to $317.1 million, while the gross margin increased to 29.4% from 29.1% in the year-ago quarter. Selling, distribution and administrative expenses (including depreciation) climbed 3.5% year over year to $202.5 million. EBITDA was $130.8 million, suggesting an increase of 4.2%.
Balance Sheet & Cash Flow
In the first six months of fiscal 2024, Applied Industrial had cash and cash equivalents of $412.9 million compared with $344 million at the end of fiscal 2023. Long-term debt was $571.9 million compared with $596.9 million at the end of fiscal 2023.
At the end of the reported quarter, AIT generated net cash of $168 million from operating activities, indicating an increase of 89.1% from the year-ago period. Capital expenditures totaled $9.9 million, down 23.1% year over year. Free cash flow in the fiscal first six months surged more than 100% year over year to $158.1 million.
In the first six months of fiscal 2024, AIT rewarded shareholders with dividends of $27.2 million, up 3.4% year over year.
Dividend Hike
Applied Industrial’s board approved a 5.7% hike in the quarterly dividend rate to 37 cents per share (annually: $1.48). The dividend will be paid to shareholders on Feb 29, of record as of Feb 15.
Fiscal 2024 Guidance
For fiscal 2024 (ending June 2024), Applied Industrial anticipates adjusted earnings of $9.35-$9.70 per share compared with $9.25-$9.80 expected earlier. The mid-point of the guided range — $9.53 — lies above the Zacks Consensus Estimate of $9.43.
The company predicts sales to increase 1-3% year over year compared with 1-4% anticipated earlier. It expects organic sales to inch up by 0-2%.
AIT expects an EBITDA margin of 12.1-12.3% for fiscal 2024. Previously, the same was expected in the range of 12.0-12.3%. The guidance includes the effects of a slowdown in end markets and ongoing inflationary and supply-chain headwinds.
Zacks Rank & Other Stocks to Consider
AIT currently carries Zacks Rank #2 (Buy). Some other top-ranked companies from the Industrial Products sector are discussed below:
Flowserve Corporation (FLS - Free Report) presently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
FLS delivered a trailing four-quarter average earnings surprise of 27.3%. In the past 60 days, the Zacks Consensus Estimate for Flowserve’s 2023 earnings has remained steady. The stock has risen 22.3% in the past year.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 14%.
The Zacks Consensus Estimate for AOS’ 2023 earnings increased 0.5% in the past 60 days. Shares of A. O. Smith have jumped 34.6% in the past year.
Crane Company (CR - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 29.8%.
In the past 60 days, the Zacks Consensus Estimate for Crane’s 2023 earnings has increased 0.2%. The stock has risen 43.9% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
A. O. Smith Corporation (AOS) - free report >>
Flowserve Corporation (FLS) - free report >>
Applied Industrial Technologies, Inc. (AIT) - free report >>
|
https://www.zacks.com/stock/news/2216348/applied-industrial-ait-q2-earnings-beat-revenues-rise-yy
| 2024-01-26T13:27:35Z
|
blocked_url
|
MSCI (MSCI - Free Report) is set to report its fourth-quarter 2023 results on Jan 30.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $3.29 per share, unchanged in the past 30 days, suggesting 15.85% year-over-year growth.
The consensus mark for revenues is pegged at $657.16 million, indicating an increase of 14.05% year over year.
MSCI’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 5.2%.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Influenced Q4 Performance
MSCI’s fourth-quarter 2023 results are expected to have benefited from robust recurring revenues and the increasing integration of Climate and ESG solutions in the investment process.
MSCI’s focus on expanding into new areas like index services, analytics, ESG and Climate solutions and real assets is expected to have driven growth in its customer base in the to-be-reported quarter.
The company’s recent acquisition of Burgiss and Trove Research is expected to have enhanced its investment solutions to cater to diverse asset classes and align with market demands. These acquisitions are expected to make a positive contribution to MSCI's fourth-quarter performance.
The deal with Burgiss is expected to have contributed an estimated fourth-quarter revenues of $22-$24 million.
The Burgiss acquisition has enhanced MSCI's private asset capabilities, while Trove's integration is expected to have strengthened its position in the voluntary carbon market, bolstering MSCI's overall growth trajectory.
Ongoing market volatility, lower spending by clients and the negative impact of global economic uncertainties are expected to have hurt results in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, 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’s the exact case here.
MSCI has an Earnings ESP of +1.13% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Meta Platform (META - Free Report) has an Earnings ESP of +1.46% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meta Platform is set to announce fourth-quarter 2023 results on Feb 1. META’s shares have gained 0.2% in the past six months.
Twilio (TWLO - Free Report) has an Earnings ESP of +31.37% and a Zacks Rank #2.
Twilo is set to announce fourth-quarter 2023 results on Feb 14. TWLO’s shares have gained 18.7% in the past six months.
Bill Holdings (BILL - Free Report) has an Earnings ESP of +6.17% and a Zacks Rank #3.
Bill Holdings is set to announce second-quarter fiscal 2024 results on Feb 8. BILL’s shares have declined 38.4% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
MSCI Inc (MSCI) - free report >>
Twilio Inc. (TWLO) - free report >>
|
https://www.zacks.com/stock/news/2216352/msci-scheduled-to-report-q4-earnings-whats-in-the-cards?
| 2024-01-26T13:27:41Z
|
blocked_url
|
Brinker International, Inc. (EAT - Free Report) is scheduled to report second-quarter fiscal 2024 results on Jan 31. In the last reported quarter, the company delivered an earnings surprise of 833.3%.
How Are Estimates Placed?
The Zacks Consensus Estimate for fiscal second-quarter earnings per share (EPS) is pegged at 96 cents, indicating an improvement of 26.3% from 76 cents reported in the year-ago quarter.
The consensus mark for revenues is pegged at $1.08 billion, suggesting a 5.9% increase from the year-ago quarter’s figure.
Let's look at how things have shaped up in the quarter.
Factors at Play
Brinker‘s fiscal second-quarter top line is expected to increase year over year, courtesy of solid Chili's performance, improved value propositions and advertising campaigns. This and traffic improvements, new restaurant development, menu innovation and pricing adjustments are likely to have driven the company’s performance in the to-be-reported quarter.
For the said quarter, our model predicts revenues from Chili's and Maggiano's to increase 4.7% and 4.1% year over year to $919.7 million and $146 million, respectively.
Increased expenses in broad-based advertising and incremental repair and maintenance investments are likely to have hurt margins in the fiscal second quarter. The company anticipates general and administrative expenses to hold steady or slightly exceed the $42 million mark (reported in the fiscal first quarter), owing to elevated incentive compensation linked to improved operational performance.
Our model predicts fiscal second-quarter company restaurant expenses to be $922.4 million, up 3.4% year over year. Per the model, restaurant labor expenses are expected to increase 7.7% year over year to $360.5 million.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Brinker this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. But that's not the case here.
Earnings ESP: Brinker has an Earnings ESP of -5.43%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Retail-Wholesale sector that investors may consider, as our model shows that these also have the right combination of elements to post an earnings beat:
Chipotle Mexican Grill, Inc. (CMG - Free Report) has an Earnings ESP of +1.61% and a Zacks Rank of 2.
CMG’s earnings for the quarter under review are expected to increase 17%. It reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining one occasion, the average surprise being 5.8%.
McDonald's Corporation (MCD - Free Report) has an Earnings ESP of +0.71% and a Zacks Rank of 2.
MCD is expected to register 8.5% growth in earnings for the quarter to be reported. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 10%.
Papa John's International, Inc. (PZZA - Free Report) has an Earnings ESP of +0.04% and a Zacks Rank of 3.
PZZA’s earnings for the to-be-reported quarter are expected to rise 2.8%. It reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining one occasion, the average surprise being 1.7%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
McDonald's Corporation (MCD) - free report >>
Chipotle Mexican Grill, Inc. (CMG) - free report >>
|
https://www.zacks.com/stock/news/2216353/factors-setting-the-tone-for-brinkers-eat-q2-earnings
| 2024-01-26T13:27:48Z
|
blocked_url
|
Cullen/Frost Bankers, Inc. (CFR - Free Report) reported fourth-quarter 2023 adjusted earnings per share (excluding the impact of FDIC surcharge) of $2.18, down from $2.91 in the prior-year quarter. Nonetheless, the bottom line surpassed the Zacks Consensus Estimate of $2.01.
Results were primarily aided by a rise in non-interest income and higher loan balances during the quarter. However, a rise in non-interest expenses and credit loss expenses were significant drags.
The company reported net income available to common shareholders of $100.9 million, down from $189.5 million in the prior-year quarter.
For 2023, earnings per share were $9.10, up from $8.81 in the prior-year quarter. The bottom line missed the Zacks Consensus Estimate of $9.59. Net income available to common shareholders was $591.3 million, up from $572.5 million in 2022.
Revenues Decline, Expenses Rise
The company’s total revenues were $523.7 million in the fourth quarter, down 1.1% year over year. Nonetheless, the top line surpassed the Zacks Consensus Estimate of $498.1 million.
In 2023, revenues were up 16.1% to $2.08 billion, surpassing the Zacks Consensus Estimate of $2.04 billion.
NII on a taxable-equivalent basis declined 3.3% to $409.9 million year over year. Nonetheless, net interest margin (NIM) expanded 10 basis points (bps) year over year to 3.41%. Our estimates for NII and NIM were $389.5 million and 3.36%, respectively.
Non-interest income improved 7.6% to $113.8 million year over year. The rise was due to an increase in all components of non-interest income. Our estimate for non-interest income was $101.6 million.
Non-interest expenses of $365.2 million jumped 29.8% year over year. The rise was majorly due to FDIC insurance expense incurred during the fourth quarter. Our estimate for non-interest expenses was $308.2 million.
As of Dec 31, 2023, total loans were $18.82 billion, up 2.3% sequentially. Total deposits amounted to $41.92 billion, up 2.3% from the previous quarter.
Credit Quality Deteriorates
As of Dec 31, 2023, the company recorded credit loss expenses of $16 million compared with $3 million in the prior-year quarter. Further, net charge-offs, annualized as a percentage of average loans, expanded 14 bps year over year to 0.23%.
Nonetheless, the allowance for credit losses on loans, as a percentage of total loans, was 1.31%, down 2 bps.
Capital Ratios Improve & Profitability Ratios Decline
As of Dec 31, 2023, the Tier 1 risk-based capital ratio was 13.73%, up from 13.35% at the end of the year-earlier quarter. The total risk-based capital ratio was 15.18%, up from 14.84% as of the prior-year quarter. The common equity Tier 1 risk-based capital ratio was 13.25%, up from the year-ago quarter’s 12.85%.
The leverage ratio increased to 8.35% from 7.29%.
Return on average assets and return on average common equity were 0.82% and 13.51% compared with 1.44% and 27.16% in the prior-year quarter, respectively.
Capital Distribution Update
The company declared first-quarter cash dividend of 92 cents per share, which will be paid on Mar 15, 2024, to shareholders of record as of Feb 29.
Its board of directors also approved an additional share buyback program with authorization to purchase up to $150 million of its common stock. The plan will expire on Jan 24, 2025.
Our Viewpoint
Cullen/Frost has put up a decent performance in the fourth quarter of 2023. It is well-positioned for revenue growth, given the steady improvement in loan balances, higher interest rates and its efforts to boost fee income. However, rising expenses may affect the bottom line to some extent in the near term.
Currently, Cullen/Frost 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
The Bank of New York Mellon Corporation’s (BK - Free Report) fourth-quarter 2023 adjusted earnings of $1.28 per share surpassed the Zacks Consensus Estimate of $1.12. However, the bottom line reflects a fall of 1.5% from the prior-year quarter.
Results were primarily aided by a rise in net interest revenues and fee revenues. The assets under management balance witnessed a rise, which was another major positive for BK. However, higher expenses hurt the results to some extent. Also, the credit quality was weak in the reported quarter.
East West Bancorp’s (EWBC - Free Report) fourth-quarter 2023 adjusted earnings per share of $2.02 surpassed the Zacks Consensus Estimate of $1.89. However, the bottom line declined 14.8% from the prior-year quarter.
Results were primarily aided by an increase in non-interest income. Also, loan balances increased sequentially in the quarter, which was a positive for EWBC. However, lower NII, and higher expenses and provisions were the undermining factors.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
The Bank of New York Mellon Corporation (BK) - free report >>
|
https://www.zacks.com/stock/news/2216354/cullenfrost-cfr-q4-earnings-revenues-beat-costs-up-yy?-revenues-beat,-costs-up-y/y
| 2024-01-26T13:27:54Z
|
blocked_url
|
Colgate-Palmolive (CL - Free Report) came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2.35%. A quarter ago, it was expected that this consumer products maker would post earnings of $0.80 per share when it actually produced earnings of $0.86, delivering a surprise of 7.50%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Colgate-Palmolive
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.
Colgate-Palmolive shares have added about 1.9% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for Colgate-Palmolive?
While Colgate-Palmolive 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 Colgate-Palmolive: 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 $0.82 on $4.93 billion in revenues for the coming quarter and $3.47 on $20.15 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, Soap and Cleaning Materials is currently in the bottom 20% 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.
Church & Dwight (CHD - Free Report) , another stock in the same industry, has yet to report results for the quarter ended December 2023. The results are expected to be released on February 2.
This maker of household and personal products is expected to post quarterly earnings of $0.64 per share in its upcoming report, which represents a year-over-year change of +3.2%. The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level.
Church & Dwight's revenues are expected to be $1.51 billion, up 5.3% from the year-ago quarter.
|
https://www.zacks.com/stock/news/2216355/colgate-palmolive-cl-beats-q4-earnings-and-revenue-estimates
| 2024-01-26T13:28:00Z
|
blocked_url
|
GATX Corporation’s (GATX - Free Report) fourth-quarter 2023 earnings per share (EPS) of $1.74 outpaced the Zacks Consensus Estimate of $1.56. The bottom line improved 12.9% year over year. Revenues of $368.7 million missed the Zacks Consensus Estimate of $394.9 million but improved 14.3% year over year.
Lease revenues of $323.6 million grew 10.1% year over year, while Marine operating revenues decreased 70.4% to $0.8 million. Revenues from other sources rose 27.3% to $31.2 million.
Total expenses (on a reported basis) rose 16.2% to $270.9 million.
Profits in the Rail North American segment decreased to $66.7 million from $83.5 million a year ago. The renewal lease rate change of GATX’s Lease Price Index (LPI) was 33.5% in the reported quarter compared with the year-ago quarter’s 24.4%. The average lease renewal term for cars included in LPI was 65 months compared with 52 months a year ago.
Rail North America’s wholly-owned fleet consisted of approximately 110,500 rail cars at December 2023-end. Fleet utilization was 99.3% at the end of the fourth quarter compared with 99.5% at the end of the fourth quarter of 2022.
In the Rail International segment, segment profit was $34.4 million in the fourth quarter of 2023, compared with $18.2 million in the year-ago quarter. Results had a favorableimpact from Tax Adjustments and Other Items and more railcars on lease.
GATX Rail Europe’s fleet totaled more than 29,200 rail cars at the fourth-quarter end. Fleet utilization was 95.9% in the reported quarter compared with 96% at the end of fourth-quarter 2022.
The Portfolio Management unit reported a segmental profit of $31.3 million in the fourth quarter compared with $23.1 million in the year-ago quarter.
As of Dec 31, 2023, GATX had cash and cash equivalents of $450.7 million compared with $203.1 million at the end of September 2023.
GATX anticipates full-year 2024 EPS in the range of $7.30–$7.70.
Currently, GATX 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 $3,303.70 million 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.
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.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Delta Air Lines, Inc. (DAL) - free report >>
United Airlines Holdings Inc (UAL) - free report >>
|
https://www.zacks.com/stock/news/2216356/gatx-surpasses-q4-earnings-estimates-misses-on-revenues
| 2024-01-26T13:28:06Z
|
blocked_url
|
Stellar Bancorp (STEL - Free Report) came out with quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -1.79%. A quarter ago, it was expected that this bank holding company would post earnings of $0.56 per share when it actually produced earnings of $0.58, delivering a surprise of 3.57%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Stellar 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.
Stellar Bancorp shares have lost about 4.7% since the beginning of the year versus the S&P 500's gain of 2.6%.
What's Next for Stellar Bancorp?
While Stellar 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 Stellar Bancorp: 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 $0.50 on $105.4 million in revenues for the coming quarter and $2.09 on $429.27 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 23% 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.
First Guaranty Bancshares (FGBI - Free Report) , another stock in the same industry, has yet to report results for the quarter ended December 2023.
This bank holding company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -78.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
First Guaranty Bancshares' revenues are expected to be $23.02 million, down 11% from the year-ago quarter.
|
https://www.zacks.com/stock/news/2216357/stellar-bancorp-stel-q4-earnings-lag-estimates
| 2024-01-26T13:28:13Z
|
blocked_url
|
Western Digital Corporation (WDC - Free Report) reported second-quarter fiscal 2024 non-GAAP loss of 69 cents per share, narrower than the Zacks Consensus Estimate of a loss of $1.13. The company reported a loss of 42 cents in the prior-year quarter.
Management anticipated fiscal second-quarter non-GAAP loss per share to be between $1.05 and $1.35.
Revenues of $3.032 billion beat the Zacks Consensus Estimate by 1.6%. However, the top line decreased 2% year over year owing to weak performance across Cloud end markets. On a sequential basis, revenues increased 10%.
For second-quarter fiscal 2024, the company expected non-GAAP revenues in the range of $2.85-$3.05 billion.
Following the announcement, shares of WDC fell 5% in the after-market trading on Jan 25. In the past year, shares have gained 34.2% compared with sub-industry’s growth of 80.8%.
Image Source: Zacks Investment Research
Quarter in Detail
At the beginning of first-quarter fiscal 2022, Western Digital started reporting revenues under three refined end markets — Cloud (includes products for public or private cloud), Client (includes products sold directly to OEMs or through distribution) and Consumer (includes retail and other end-user products).
Revenues from the Cloud end market (35% of total revenues) fell 13% year over year to $1,071 million owing to reduced eSSD bit shipments. On a sequential basis, cloud revenues were up 23%. The sequential improvement was driven by higher nearline shipments to data center clients and improved nearline pricing.
Revenues from the Client end market (37%) were up 3% year over year to $1,122 million. The uptick was due to higher flash shipments, mainly driven by client solid state drive or SSD shipments into PC applications. Client revenues decreased 2% sequentially owing to a decline in flash bit shipments.
Revenues from the Consumer end market (28%) were up 6% year over year to $839 million. The year-over-year growth was driven by an increase in flash bit shipments which offset a decline in flash ASPs and lower hard disk drive (HDD) shipments. Revenues increased 15% on a sequential basis. Sequential performance benefited from seasonal momentum in flash bit shipments.
Considering revenues by product group, Flash revenues (54.9% of total revenues) was up 0.5% year over year to $1.665 billion. Sequentially, flash revenues rose 7%.
HDD revenues (45.1%) decreased 6% year over year to $1.367 billion. Revenues increased 14% quarter over quarter.
In the first quarter of fiscal 2024, the company had announced that it plans to separate its HDD and Flash businesses and create two independent and public companies. The separation is likely to be structured in a tax-free manner and is scheduled for the second half of 2024.
Key Metrics
The company shipped 10.8 million HDDs at an average selling price (ASP) of $122. The reported shipments declined 16.3% year over year.
Total exabytes sales (excluding licensing, royalties and non-memory products) grew 10% sequentially. On a quarter-over-quarter basis, HDD Exabytes sales increased 14%. Flash exabytes sales were down 2%.
ASP/Gigabytes (excluding licensing, royalties and non-memory products) were up 10% sequentially.
Margins
Non-GAAP gross margin was 15.5% compared with 17.4% in the year-ago quarter.
HDD’s gross margin expanded 410 bps year over year to 24.8%. Flash gross margin came in at 7.9% compared with 14.5% in the prior-year quarter.
Non-GAAP operating expenses declined 15% year over year to $561 million.
Non-GAAP operating loss totaled $91 million against the non-GAAP operating loss $119 million in the prior-year quarter. Operating loss included underutilization charges of $156 million.
Balance Sheet & Cash Flow
As of Dec 29, 2023, cash and cash equivalents were $2.481 billion compared with $2.03 billion as of Sep 29, 2023.
Long-term debt (including the current portion) was $7.351 billion as of Dec 29.
Western Digital used $92 million in cash from operations in the reported quarter.It generated $35 million of cash from operations in the prior-year quarter.
Free cash outflow amounted to $176 million in the quarter under review compared with the free cash outflow of $240 million reported in the prior-year quarter.
Fiscal Q3 Guidance
The company expects non-GAAP revenues in the range of $3.2-$3.4 billion. The Zacks Consensus Estimate is currently pegged at $3.32 billion.
Management projects non-GAAP earnings per share in the range of a loss of 10 cents to earnings of 20 cents. The Zacks Consensus Estimate is currently pegged at a loss of 17 cents.
WDC expects non-GAAP gross margin in the range of 22-24%. Non-GAAP operating expenses are expected to be between $600 million and $620 million.
Zacks Rank
Currently, Western Digital carries a Zacks Rank #2 (Buy).
Other Stocks to Consider
Other stocks worth consideration in the broader technology space are Watts Water Technologies (WTS - Free Report) , NETGEAR (NTGR - Free Report) and Blackbaud (BLKB - Free Report) . While NETGEAR currently sports a Zacks Rank #1 (Strong Buy), Watts Water and Blackbaud carry a Zacks Rank of 2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Watts Water Technologies’ 2023 EPS has improved by 1% in the past 60 days to $8.08. WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have jumped 25.1% in the past year.
The Zacks Consensus Estimate for 2023 is pegged at a loss of 9 cents per share for NETGEAR, which remained unchanged in the past 30 days. NTGR’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters while missing once. The average surprise was 127.5%. Shares of NTGR were down 25.4% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 EPS has improved by 1% in the past 60 days to $3.86. BLKB’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.6%. Shares of BLKB have gained 36% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Western Digital Corporation (WDC) - free report >>
NETGEAR, Inc. (NTGR) - free report >>
|
https://www.zacks.com/stock/news/2216358/western-digital-wdc-posts-q2-loss-tops-revenue-estimates
| 2024-01-26T13:28:19Z
|
blocked_url
|
Danaher Corporation (DHR - Free Report) is scheduled to release fourth-quarter 2023 results on Jan 30, before market open.
The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 8.5%. In the last reported quarter, its earnings of $2.02 per share beat the Zacks Consensus Estimate of $1.83 by 10.4%.
Image Source: Zacks Investment Research
In the past three months, DHR’s shares have gained 21% compared with the industry’s growth of 13.6%.
Let’s see how things have shaped up for Danaher this earnings season.
Key Factors and Estimates for Q4
Improving supply chains and strong price realization are expected to drive Danaher’s fourth-quarter results. The company’s Life Sciences segment is anticipated to reflect benefits from stable demand in the life science research and applied markets. However, softness in the pharma and biopharma markets might have hurt the segment’s top line. For the fourth quarter, we expect Life Sciences’ revenues to be $1,839.9 million, indicating a decline of 5.5% year over year.
Lower sales of COVID-related products are expected to have hurt the Diagnostics segment’s performance in the fourth quarter. However, strength at Beckman Diagnostics business and respiratory testing at Cepheid might have been a relief. Also, weakness in the bioprocessing business due to lower demand from earlier-stage research and lab filtration customers is expected to have been a spoilsport for the Biotechnology segment.
Our estimates for the company’s fourth-quarter revenues for the Diagnostics and Biotechnology segments are pegged at $2,372 million and $1,677.3 million, respectively, suggesting significant year-over-year declines.
Danaher expects total core revenues to decline in the high-teens percentage range for the fourth quarter due to lower demand for COVID-19 testing, vaccines and therapeutics. For 2023, the company expects total core revenues to decline in the low double digits.
Nevertheless, management has been trying to improve performance through operational initiatives. The company has been able to reduce the impact of supply chain constraints through its Danaher Business System (“DBS”) initiatives. As part of the DBS initiatives, disciplined cost management, enhanced productivity and pricing actions are anticipated to have supported the company’s margin performance. For the fourth quarter, we expect a gross margin of 59.9%, reflecting a year-over-year increase of 90 basis points.
Earnings Whispers
Our proven model suggests an earnings beat for Danaher 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, which is the case here, as elaborated below.
Earnings ESP: Danaher has an Earnings ESP of +3.46% as the Most Accurate Estimate is pegged at $1.96, which is higher than the Zacks Consensus Estimate of $1.89. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: DHR carries a Zacks Rank #3.
Other Stocks With the Favorable Combination
Here are a few other companies that, according to our model, have the right combination to beat on earnings this reporting cycle:
Griffon Corporation (GFF - Free Report) has an Earnings ESP of +2.08% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
GFF’s earnings for the to-be-reported quarter are expected to decrease 9.3%. However, the consensus mark for its quarterly earnings has moved up 2.6% to 78 cents per share in the past 60 days.
The Zacks Consensus Estimate for GFF’s quarterly revenues is pegged at $597.3 million, which suggests a decline of 8% from the figure reported in the prior-year quarter.
Eaton Corporation (ETN - Free Report) has an Earnings ESP of +0.20% and currently carries a Zacks Rank #2. The company is likely to register growth in the top and bottom lines when it reports fourth-quarter 2023 numbers. The consensus mark for ETN’s quarterly earnings has moved up 0.4% to $2.47 per share in the past 60 days. The consensus estimate suggests 19.9% growth from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for Eaton’s quarterly revenues is pegged at $5,890 million, suggesting growth of 9.5% from the figure reported in the prior-year quarter.
Alarm.com Holdings (ALRM - Free Report) has an Earnings ESP of +8.79% and carries a Zacks Rank #3. ALRM’s earnings for the to-be-reported quarter are expected to decrease 9.4% on a year-over-year basis. The consensus mark for its quarterly earnings has moved up 4.3% to 48 cents per share in the past 60 days.
The Zacks Consensus Estimate for Alarm.com’s quarterly revenues is pegged at $225.2 million, which suggests growth of 8.2% from the figure reported in the prior-year quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Eaton Corporation, PLC (ETN) - free report >>
Danaher Corporation (DHR) - free report >>
|
https://www.zacks.com/stock/news/2216359/danaher-dhr-gears-up-to-post-q4-earnings-is-a-beat-in-store?
| 2024-01-26T13:28:25Z
|
blocked_url
|
Chubb Limited (CB - Free Report) is poised to continue its earnings beat streak in the fourth quarter of 2023. The results are scheduled to be released on Jan 30, after market close.
What Do the Estimates Say?
The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) of $5.07 is indicative of a 25.2% increase from the year-ago quarter’s reported earnings of $4.05 per share. The consensus estimate for revenues is pegged at $12.9 billion, suggesting a rise of 10.4% from the year-ago quarter’s reported figure.
Chubb Limited’s earnings beat estimates in three of the trailing four quarters, missing once, the average surprise being 6.5%. This is depicted in the graph below.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Chubb Limited this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
Earnings ESP: Chubb Limited has an Earnings ESP of +1.27%. This is because the Most Accurate Estimate of $5.13 is pegged higher than the Zacks Consensus Estimate of $5.07. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Chubb Limited currently carries a Zacks Rank #3.
Before we get into what to expect for the to-be-reported quarter in detail, it is worth taking a look at CB’s third-quarter performance.
Q3 Earnings Rewind
In the third quarter of 2023, core operating income of $4.95 per share outpaced the Zacks Consensus Estimate by 17.6%. This outperformance was driven by higher premium revenues and improved net investment income. Chubb Limited's results reflected higher premium revenue growth across most of the segments, improved underwriting income and lower catastrophe loss.
Now, let us see how things have shaped up prior to the fourth-quarter earnings announcement.
Factors to Note
Growing property and casualty (P&C) business, particularly in Asia, strong renewal retention, positive rate increases, new business, growth in life premiums and Cigna's business in Asia are likely to have aided Chubb Limited’s premium in the to-be-reported quarter. CB’s commercial and consumer P&C businesses in North America and internationally, as well as its Life business, are expected to have witnessed a strong performance. The Zacks Consensus Estimate for net premiums earned is pegged at $11.3 billion, indicating an increase of 7.4% from the year-ago reported figure.
The company’s personal lines business in Latin America is expected to have witnessed improvement due to the growing Mexican auto portfolio. Auto insurance, which was challenged for most of 2023, is expected to have recovered as rate increases and stabilization in repair costs provide some relief. Per November 2023 U.S. CPI data, repair costs increased 12.7% compared with 23.1% in January 2023. This trend is expected to continue in 2024, resulting in improved margins.
The top line is likely to have benefited from better premium revenues as well as higher investment income. Net investment income is expected to have benefited from higher reinvestment rates. In the fourth quarter, Chubb Limited projects adjusted net investment income in the range of $1.435-$1.45 billion.
Underwriting profit is likely to have benefited from better pricing, increased exposure and favorable prior period reserve development. The Zacks Consensus Estimate for the combined ratio is pegged at 86, indicating an improvement of 200 basis points from the year-ago reported figure. The continued share buybacks are anticipated to have provided an additional boost to the bottom line.
However, expenses are likely to have increased because of higher losses and loss expenses, policy benefits, policy acquisition costs, administrative expenses, interest expenses and amortization of purchased intangibles.
Other Stocks That Warrant a Look
Here are some other companies worth considering from the broader Finance space, as our model shows that these, too, have the right combination of elements to beat on earnings this time around:
Coinbase Global, Inc. (COIN - Free Report) has an Earnings ESP of +160.61% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Coinbase’s bottom line for the to-be-reported quarter suggests a 95.1% year-over-year improvement. COIN beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 63%.
Marsh & McLennan Companies, Inc. (MMC - Free Report) has an Earnings ESP of +0.60% and is a Zacks #3 Ranked player.
The Zacks Consensus Estimate for Marsh’s bottom line for the to-be-reported quarter indicates an 8.8% year-over-year increase. Furthermore, the consensus mark for MMC’s revenues is pegged at $5.5 billion, suggesting 9.9% growth from a year ago. MMC beat earnings estimates in each of the past four quarters, with an average surprise of 6.5%.
Brookfield Asset Management Ltd. (BAM - Free Report) has an Earnings ESP of +0.69% and a Zacks Rank of 3.
The Zacks Consensus Estimate for Brookfield Asset Management’s bottom line for the to-be-reported quarter indicates 9.7% growth from the year-ago period. BAM beat earnings estimates twice in the past four quarters and missed on the other two occasions, with an average surprise of 0.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Chubb Limited (CB) - free report >>
Marsh & McLennan Companies, Inc. (MMC) - free report >>
|
https://www.zacks.com/stock/news/2216360/is-a-beat-in-store-for-chubb-limited-cb-in-q4-earnings?
| 2024-01-26T13:28:31Z
|
blocked_url
|
Weyerhaeuser Company’s (WY - Free Report) shares inched up 0.4% in the after-hour trading session on Jan 25, after it reported mixed results for fourth-quarter 2023. Its earnings beat the Zacks Consensus Estimate, but net sales missed the same.
On a year-over-year basis, both metrics declined due to lower fee harvest volumes in the West and a decrease in domestic sales volumes.
The company optimized its timberlands holdings with the strategic acquisition of mature and highly productive acreage in the Carolinas and Mississippi and the divestiture of less strategic acreage in South Carolina. Also, it captured additional operational excellence improvements, grew its Natural Climate Solutions business and sold first forest carbon credits in the voluntary market.
On an impressive note, the company unveiled a 14-cent per share supplemental dividend on its common stock, which will be paid in cash on Feb 27, 2024, to shareholders of record as of Feb 16.
Inside the Headlines
The company reported adjusted earnings of 16 cents per share, beating the consensus mark of 14 cents by 14.3%. The bottom line, however, decreased 33.3% from the year-ago reported figure of 24 cents per share.
Net sales for the quarter came in at $1,774 million, missing the consensus mark of $1,848 million by 4% and declining 2.7% from $1,823 million reported in the prior-year quarter.
Adjusted EBITDA came in at $321 million, down 13% from $369 million in the year-ago period.
Segment Details
Timberlands: Net sales (including inter-segment sales of $139 million) from the segment came in at $534 million, down from the year-ago figure of $548 million. Adjusted EBITDA came in at $143 million, down from $150 million in the year-ago quarter. Meanwhile, we expected segment sales to decline 9.8% year over year to $494.2 million in the quarter.
Real Estate, Energy and Natural Resources: For the reported quarter, the segment’s net sales amounted to $77 million, up from $55 million a year ago. The reported figure was higher than our expectation of $70.8 million for the quarter. Adjusted EBITDA came in at $67 million, indicating growth from $46 million reported in the year-ago period.
Wood Products: For the fourth quarter, the segment’s sales totaled $1,302 million, down from $1,331 million in the prior-year period. Adjusted EBITDA came in at $159 million, down from $197 million a year ago. We expected segment sales to grow 3.4% year over year to $1,375.8 million in the quarter.
2023 Highlights
For the full year, adjusted earnings came in at $1.02 per share, indicating a decrease of 66.2% from $3.02 reported in 2022. Revenues were $7.67 billion, which declined 24.6% from $10.18 billion reported a year ago.
The adjusted EBITDA of $1.69 billion increased 53.6% from 2022.
Financial Highlights
As of Dec 31, 2023, Weyerhaeuser had cash and cash equivalents of $1.16 billion, down from $1.58 billion at 2022-end. Long-term debt was $5.07 billion at the quarter’s end, up from $4.07 billion at 2022-end.
Net cash from operations was $288 million for the fourth quarter and $1,433 million for 2023 versus $167 million and $2,832 million reported in the respective year-ago period.
Q1 Outlook
For first-quarter 2024, the company expects earnings (before special items) and adjusted EBITDA in the Timberland segment to be comparable sequentially. In the West, it expects fee harvest volumes to be moderately high from the reported quarter as well as per unit log and haul costs to be significantly low. However, sales realizations are expected to be slightly lower due to mix. In the South, WY expects moderately lower fee harvest volumes and comparable sales realizations and per-unit log and haul costs. Forestry and road costs in both the West and South are anticipated to be seasonally down.
In the Real Estate, Energy and Natural Resources segment, Weyerhaeuser expects earnings to be comparable sequentially. Adjusted EBITDA is likely to be $15 million higher than fourth-quarter 2023, thanks to the timing and mix of sales.
Within the Wood Products segment, the company predicts earnings and adjusted EBITDA to be slightly high sequentially (excluding the effect of changes in average sales realizations for lumber and oriented strand board). It expects higher sales volumes and slightly lower log costs and unit manufacturing costs in lumber. For oriented strand board, it anticipates a moderate increase in sales volumes, slightly high fiber costs, and lower unit manufacturing costs. For engineered wood products, the company predicts higher sales volumes, lower sales realizations for most products and a decline in raw material costs. WY anticipates improvement in the distribution segment from fourth-quarter 2023.
2024 Guidance
For the year, fee harvest volume is approximately 35.5 million tons, as all three regions are expected to be slightly higher year over year.
The Real Estate, Energy and Natural Resources segment’s adjusted EBITDA is anticipated to be $320 million.
Zacks Rank
Currently, WY carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
A Few Recent Construction Releases
United Rentals, Inc. (URI - Free Report) reported impressive fourth-quarter 2023 results. Its earnings and revenues beat the Zacks Consensus Estimate and increased on a year-over-year basis.
The upside was mainly driven by sustained growth across the business, profitability and returns, underpinned by broad-based activity. Moreover, URI has provided strong guidance for 2024, given the strength of the present market condition and the multi-year tailwinds the company sees across infrastructure, manufacturing and energy and power.
D.R. Horton, Inc. (DHI - Free Report) reported first-quarter fiscal 2024 (ended Dec 31, 2023) results, wherein earnings missed the Zacks Consensus Estimate, but revenues surpassed the same.
On a year-over-year basis, both the top and bottom lines increased. The upside was backed by the supply of both new and existing homes as affordable price points remain limited and robust housing demand supported by favorable demographics amid elevated inflation and mortgage/interest rates.
KB Home (KBH - Free Report) reported better-than-expected results in fourth-quarter fiscal 2023 (ended Nov 30, 2023). Both the earnings and revenues beat the Zacks Consensus Estimate. With this, the company’s earnings and revenues surpassed the consensus mark in the trailing four quarters.
Looking forward to the first quarter and the entirety of 2024, KBH foresees enhanced conditions in the housing market and ongoing positive trends in the supply chain. Leveraging the advantages of its Built to Order model, which provides buyers with choices, flexibility and affordability, the company is confident in its ability to effectively navigate potential fluctuations in housing market conditions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Weyerhaeuser Company (WY) - free report >>
KB Home (KBH) - free report >>
|
https://www.zacks.com/stock/news/2216363/weyerhaeuser-wy-q4-earnings-beat-adjusted-ebitda-declines
| 2024-01-26T13:28:38Z
|
blocked_url
|
For most investors, how much a stock's price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in Progressive (PGR - Free Report) ten years ago? It may not have been easy to hold on to PGR for all that time, but if you did, how much would your investment be worth today?
Progressive's Business In-Depth
With that in mind, let's take a look at Progressive's main business drivers.
Based in Mayfield Village, OH, The Progressive Corporation is one of the major auto insurers in the country. Founded in 1965, Progressive is a leading independent agency writer of private passenger auto coverage, and the market share leader for the motorcycle products since 1998. Progressive operates through three business segments.
- The Personal Lines (77% of 2022 Net Premium earned) segment writes insurance for private passenger automobiles, recreational and other vehicles. This business generally offers more than one program in a single state, with each program targeted toward a specific distribution channel, market, or customer group. Personal Lines products comprise insurance for personal autos and special lines products. The agency business includes business written by Progressive’s network of more than 35,000 independent insurance agencies located throughout the United States, as well as brokerages in New York and California and strategic alliance business relationships (other insurance companies, financial institutions, and national agencies). The direct business includes business written directly by the company online and over the phone.
- The Commercial Lines (18%) segment writes primary liability and physical damage insurance for automobiles and trucks owned by small businesses. The majority of its Commercial Auto customers insure two or fewer vehicles. The Commercial Lines business, which is primarily distributed through the independent agency channel, operates in the business auto and specialty truck markets. The business auto market accounts for one third of its total Commercial Auto premiums and approximately 60% of the vehicles Progressive insures in this business. The remainder is in the specialty truck commercial auto market, which includes dump trucks, logging trucks, tow trucks, local cartage and other short-haul commercial vehicles.
- The Property (5%) segment writes personal property insurance, for homeowners, other property owners, and renters, in the Agency channel in over 31 states and the District of Columbia for personal property insurance and in over four states for commercial property insurance.
Bottom Line
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Progressive, if you bought shares a decade ago, you're likely feeling really good about your investment today.
A $1000 investment made in January 2014 would be worth $7,177.82, or a gain of 617.78%, as of January 26, 2024, according to our calculations. This return excludes dividends but includes price appreciation.
Compare this to the S&P 500's rally of 173.37% and gold's return of 57.01% over the same time frame.
Going forward, analysts are expecting more upside for PGR.
Shares of Progressive have outperformed the industry over the past year. It continues to gain on higher premiums, given its compelling product portfolio, leadership position and strength in both Vehicle and Property businesses. Focus on becoming a one-stop insurance destination, catering to customers opting for a combination of home and auto insurance, augurs well for the company's growth. Policies in force and retention ratio should remain healthy. Competitive pricing to retain current customers and address customer needs with new offerings should continue to drive policy life expectancy. However, exposure to catastrophe losses induces underwriting volatility. Escalating expenses due to higher losses and settlement expenses remain an overhang on the margin. High debt level along with low times earned interest pose financial risk.
The stock has jumped 12.42% over the past four weeks. Additionally, no earnings estimate has gone lower in the past two months, compared to 10 higher, for fiscal 2024; the consensus estimate has moved up as well.
|
https://www.zacks.com/stock/news/2216366/heres-how-much-youd-have-if-you-invested-1000-in-progressive-a-decade-ago
| 2024-01-26T13:28:44Z
|
blocked_url
|
How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in Deckers (DECK - Free Report) ten years ago? It may not have been easy to hold on to DECK for all that time, but if you did, how much would your investment be worth today?
Deckers' Business In-Depth
With that in mind, let's take a look at Deckers' main business drivers.
Founded in 1973 and headquartered in Goleta, California, Deckers Outdoor Corporation is a leading designer, producer and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities. The company sells products primarily under five proprietary brands — UGG, HOKA, Teva, Sanuk and Other brands (mainly comprised of Koolaburra).
Its products are sold through specialty domestic retailers, international distributors and directly to end-users through its websites and catalogs. The company sells directly to global consumers through the Direct-to-Consumer (DTC) channel, which is comprised of e-commerce websites and retail stores. The brands are sold worldwide, including in the United States, Canada, Europe, Asia-Pacific and Latin America.
The UGG brand (55.9% of Q2 fiscal 24 total revenues) has proven to be a highly resilient line of premium footwear, apparel and accessories with expanded product offerings. The company intends to continue diversifying the brand to drive year-round product sales through the expansion of women’s spring and summer footwear, men’s products and apparel, home goods and accessories.
The HOKA brand (38.8% of Q2 fiscal 24 total revenues) is an authentic, premium line of year-round performance footwear, apparel and accessories.
The Teva brand’s product line (2% of Q2 fiscal 24 total revenues) includes a range of performance, casual, footwear and trail lifestyle products.
The Sanuk brand (0.5% of Q2 fiscal 24 total revenues) has manifested into a lifestyle brand with a presence in the relaxed casual shoe and sandal categories.
The company's Other brands (2.8% of Q2 fiscal 24 total revenues) is a casual footwear fashion line using sheepskin and other plush materials.
(Notes: Zacks identifies fiscal years by the month in which the fiscal year ends, while DECK identifies its fiscal year by the calendar year in which it begins; so comparable figures for any given fiscal year, as published by DECK, will refer to this same fiscal year as being the year before the same year, as identified by Zacks.)
Bottom Line
While anyone can invest, building a lucrative investment portfolio takes research, patience, and a little bit of risk. If you had invested in Deckers ten years ago, you're probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in January 2014 would be worth $10,188.91, or a 918.89% gain, as of January 26, 2024. Investors should keep in mind that this return excludes dividends but includes price appreciation.
In comparison, the S&P 500 gained 173.37% and the price of gold went up 57.01% over the same time frame.
Analysts are forecasting more upside for DECK too.
Shares of Deckers have risen and outpaced the industry in the past one year. The company put on another impressive show in second-quarter fiscal 2024. The quarter marked the eighth straight positive sales and earnings surprise. Both the top and bottom lines grew year over year. Strength in the UGG and HOKA brands contributed to the results. Solid gains from the direct-to-consumer (“DTC”) channels, brand growth, a strong balance sheet and a stable operating model poise Deckers well for success. Solid momentum in its global wholesale business, driven by robust consumer demand in both domestic and international markets, appears encouraging as well. It envisions fiscal 2024 net sales to increase 11% from the prior year quarter. We expect net sales of UGG and HOKA brand to increase 6.4% and 22.3% respectively in fiscal 2024.
Shares have gained 12.65% over the past four weeks and there have been 8 higher earnings estimate revisions for fiscal 2023 compared to none lower. The consensus estimate has moved up as well.
|
https://www.zacks.com/stock/news/2216367/if-you-invested-1000-in-deckers-a-decade-ago-this-is-how-much-itd-be-worth-now
| 2024-01-26T13:28:50Z
|
blocked_url
|
How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in Veeva Systems (VEEV - Free Report) ten years ago? It may not have been easy to hold on to VEEV for all that time, but if you did, how much would your investment be worth today?
Veeva Systems' Business In-Depth
With that in mind, let's take a look at Veeva Systems' main business drivers.
Headquartered in Pleasanton, CA, Veeva Systems Inc. offers cloud-based software applications and data solutions for the life sciences industry. The company’s product portfolio includes Veeva CRM (customer relationship management), Veeva Vault (content and information management), Veeva Network (customer master and product data management) and Veeva data services (Veeva OpenData and Veeva KOL data).
Veeva CRM is the company’s flagship product and runs on salesforce.com’s SaaS platform. The contract between Veeva and salesforce.com extends till 2025.
Veeva Systems has also released its advanced Veeva Commercial Cloud offering, Veeva CRM Engage Webinar, at the Veeva Commercial Summit Europe. Veeva Systems also released Veeva Vault PromoMats Brand Portal — a new digital asset management capability that helps brand managers create portals, organize and showcase content within Veeva Vault PromoMats.
Veeva Systems has announced its intent to build Veeva MedTech CRM on the Vault Platform to meet the need for a deep, industry-specific solution. Early adopters can avail the product in late 2022.
FY23 at a Glance
Fiscal 2023 revenues totaled $2.16 billion, up 16.4% over FY22.
Subscription Service revenues were $1.73 billion (80.4% of net sales, up 16.8% over FY22), while Professional services and other revenues grossed $422.1 million (19.6%, up 15.1%).
Bottom Line
Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in Veeva Systems ten years ago, you're likely feeling pretty good about your investment today.
A $1000 investment made in January 2014 would be worth $6,528.69, or a 552.87% gain, as of January 26, 2024, according to our calculations. Investors should note that this return excludes dividends but includes price increases.
In comparison, the S&P 500 gained 173.37% and the price of gold went up 57.01% over the same time frame.
Going forward, analysts are expecting more upside for VEEV.
Veeva Systems’ continued focus on research and development (R&D) and a strong product portfolio buoy optimism. It has also been witnessing robust customer adoption of its products, which is encouraging. Veeva Systems has inked a few strategic alliances over the past few months. A strong liquidity position is an added plus. Veeva Systems’ third-quarter fiscal 2024 results were better than expected. Per the Zacks Model, total revenues and adjusted earnings per share are likely to witness a CAGR of 12.8% and 11.3% between fiscal 2023 and fiscal 2026, respectively. Yet, macroeconomic sluggishness and high operational expenses are major concerns for Veeva Systems. The company also operates in a volatile foreign exchange market and an intensifying competitive space, which is also concerning. Data security threats persist.
The stock is up 7.31% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 13 higher, for fiscal 2024. The consensus estimate has moved up as well.
|
https://www.zacks.com/stock/news/2216368/if-you-invested-1000-in-veeva-systems-a-decade-ago-this-is-how-much-itd-be-worth-now
| 2024-01-26T13:28:56Z
|
blocked_url
|
For most investors, how much a stock's price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in Netflix (NFLX - Free Report) ten years ago? It may not have been easy to hold on to NFLX for all that time, but if you did, how much would your investment be worth today?
Netflix's Business In-Depth
With that in mind, let's take a look at Netflix's main business drivers.
Netflix is considered a pioneer in the streaming space. The company evolved from a small DVD-rental provider to a dominant streaming service provider, courtesy of its wide-ranging content portfolio and a fortified international footprint. At the end of the fourth quarter of 2023, the company had 260.28 million paid subscribers globally.
Netflix has been spending aggressively on building its portfolio of original shows. This is helping the company sustain its leading position despite the launch of new services like Disney+ and Apple TV+, as well as existing services like Amazon Prime Video.
Netflix streams movies, television shows and documentaries across a wide variety of genres and languages. Domestic and international subscribers can watch them on a host of internet-connected devices, including television sets, computers, and mobile devices.
The Los Gatos, CA-based company reported revenues of $33.72 billion in 2023.
Beginning fourth-quarter 2019, Netflix started declaring revenues and membership data by regions — the Asia Pacific (APAC); Europe, Middle East & Africa (EMEA); Latin America (LATAM); and the United States and Canada (UCAN).
UCAN accounted for 44.5% of fourth-quarter 2023 revenues. At the end of the quarter, the company had 80.13 million paid subscribers in the region.
EMEA accounted for 31.5% of fourth-quarter 2023 revenues. Netflix had 88.81 million paid subscribers in the region at the end of the quarter.
LATAM contributed 13.1% of fourth-quarter 2023 revenues and had 46 million paid subscribers in the region at the end of the quarter.
APAC accounted for 10.9% of fourth-quarter 2023 revenues. The company had 45.34 million paid subscribers in the region at the end of the quarter.
Bottom Line
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Netflix, if you bought shares a decade ago, you're likely feeling really good about your investment today.
According to our calculations, a $1000 investment made in January 2014 would be worth $10,189.65, or a 918.97% gain, as of January 26, 2024. Investors should keep in mind that this return excludes dividends but includes price appreciation.
Compare this to the S&P 500's rally of 173.37% and gold's return of 57.01% over the same time frame.
Going forward, analysts are expecting more upside for NFLX.
Netflix added 13.12 million paid subscribers globally in fourth-quarter 2023, with a rise of 1% in average revenue per subscription. The company attributed the robust top-line growth to its paid subscription-sharing offering (part of its password-sharing crackdown), recent price changes and the strength of its business in general. Netflix is expected to continue dominating the streaming space, courtesy of its diversified content portfolio, which is attributable to heavy investments in the production and distribution of localized and foreign-language content. Shares have outperformed the industry in the past six months. However, stiff competition in the streaming space from the likes of Apple, Amazon Prime Video, Disney+, Peacock and Paramount+ is a headwind. NFLX’s leveraged balance sheet and a higher streaming obligation are concerns.
Over the past four weeks, shares have rallied 14.57%, and there have been 11 higher earnings estimate revisions in the past two months for fiscal 2024 compared to none lower. The consensus estimate has moved up as well.
|
https://www.zacks.com/stock/news/2216369/heres-how-much-youd-have-if-you-invested-1000-in-netflix-a-decade-ago
| 2024-01-26T13:29:03Z
|
blocked_url
|
Tractor Supply Company (TSCO - Free Report) is likely to register declines in the top and bottom lines when it reports fourth-quarter 2023 results on Feb 1, before market open. The Zacks Consensus Estimate for revenues is pegged at $3.7 billion, indicating an 8.5% decline from the prior-year reported figure.
The bottom line of the largest rural lifestyle retailer in the United States is expected to have declined year over year. However, the Zacks Consensus Estimate for earnings per share for the fourth quarter has moved down by a penny to $2.22 in the past 30 days. However, the figure suggests growth of 8.6% from the year-ago period’s reported figure.
Tractor Supply has a trailing four-quarter earnings surprise of 0.5%, on average. In the last reported quarter, this Brentwood, TN-based company’s earnings missed the Zacks Consensus Estimate by 2.6%.
Key Factors to Note
Tractor Supply has been gaining from the sturdy demand for core year-round merchandise, including consumable, usable and edible products. Also, the acquisition of Orscheln Farm and Home, store openings, and comparable store sales growth bode well.
The company has been on track with its Out Here lifestyle assortment and convenient shopping format to gain customers and market share. The strategy is essentially based on five key pillars, customers, digitization, execution, team members and total shareholder return. TSCO’s Neighbor's Club loyalty program is also likely to have driven its sales in the to-be-reported quarter.
The company has been on track with the ‘ONETractor’ strategy to connect stores and online shopping. Its omni-channel investments include curbside pickup, same-day and next-day delivery, a re-launched website, and a new mobile app. Earlier, it launched the Tractor Supply Visa Credit Card, which allows customers to earn points on their everyday purchases, both in-store and anywhere Visa is accepted. The company’s rebranding of Petsense by Tractor Supply and the expansion of its Neighbor's Club program to Petsense stores received positive customer feedback. This move is likely to have enabled it to gain pet customers for both banners.
Tractor Supply has persistently been focusing on its growth initiatives, which include the expansion of its store base, and the incorporation of technological advancements to induce traffic and drive the top line. The company’s Project Fusion and Side Lot model transformations have been significant investments toward stores. These store investments target achieving higher market share, and boosting productivity across the existing and new stores.
However, Tractor Supply predicted muted consumer spending and an unfavorable seasonal category performance throughout the remainder of the year. This is likely to have weighed on the company’s top line and comparable store sales performances in the fourth quarter. We anticipate Tractor Supply’s comparable store sales to decline 3.7% in the fourth quarter.
Also, higher depreciation and amortization, the opening of a distribution center, the impacts of higher medical claims, and fixed cost deleverage acted as deterrents. Our model indicates a 40-bps increase in SG&A expense rate on a year-over-year basis.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Tractor Supply this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Tractor Supply has an Earnings ESP of -0.42% and a Zacks Rank #4 (Sell).
Stocks Poised to Beat Earnings Estimates
Here are some companies that have the right combination of elements to post an earnings beat:
Canada Goose (GOOS - Free Report) has an Earnings ESP of +4.35% and currently sports a Zacks Rank #1. The company is likely to register top and bottom-line growth when it reports third-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for its quarterly revenues is pegged at $432 billion, suggesting 1.7% growth from the figure reported in the prior-year quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GOOS’ fiscal third-quarter earnings is pegged at $1.04, indicating 10.6% growth from the year-ago reported figure. The consensus estimate for earnings has improved by a penny in the past 30 days. GOOS has delivered an earnings beat of 59.1%, on average, in the trailing four quarters.
Chipotle Mexican Grill (CMG - Free Report) currently has an Earnings ESP of +1.61% and a Zacks Rank #2. The company is expected to register top and bottom-line growth when it reports fourth-quarter 2023 numbers. The Zacks Consensus Estimate for CMG’s quarterly revenues is pegged at $2.5 billion, which implies growth of 14.1% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Chipotle’s earnings has increased 0.6% to $9.70 in the past 30 days. The consensus estimate for earnings suggests growth of 17% from the year-ago quarter’s reported figure. CMG has delivered an earnings beat of 5.8%, on average, in the trailing four quarters.
Tapestry (TPR - Free Report) has an Earnings ESP of +2.74% and a Zacks Rank #3 at present. TPR is likely to register top and bottom-line growth when it reports second-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $2.1 billion, suggesting 1.4% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Tapestry’s fiscal second-quarter earnings is pegged at $1.46, suggesting 7.4% growth from the figure reported in the year-ago quarter. The consensus estimate for earnings has been unchanged in the past 30 days. TPR has delivered an earnings beat of 10.6%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Chipotle Mexican Grill, Inc. (CMG) - free report >>
Tractor Supply Company (TSCO) - free report >>
|
https://www.zacks.com/stock/news/2216370/tractor-supply-tsco-to-post-q4-earnings-whats-in-store?
| 2024-01-26T13:29:09Z
|
blocked_url
|
While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Our "Recent Price Strength" screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes only the stocks that are trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
Terumo Corp. (TRUMY - Free Report) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for "trend" investors.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. TRUMY is quite a good fit in this regard, gaining 19.3% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 3.8% over the past four weeks ensures that the trend is still in place for the stock of this company.
Moreover, TRUMY is currently trading at 85% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in TRUMY may not reverse anytime soon.
In addition to TRUMY, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
|
https://www.zacks.com/stock/news/2216374/terumo-corp-trumy-is-on-the-move-heres-why-the-trend-could-be-sustainable
| 2024-01-26T13:29:15Z
|
blocked_url
|
When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Investors looking to make a profit from stocks that are currently on the move may find our "Recent Price Strength" screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
EuroDry (EDRY - Free Report) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for "trend" investors.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. EDRY is quite a good fit in this regard, gaining 37.3% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 7.8% over the past four weeks ensures that the trend is still in place for the stock of this company.
Moreover, EDRY is currently trading at 87% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in EDRY may not reverse anytime soon.
In addition to EDRY, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
|
https://www.zacks.com/stock/news/2216375/heres-why-momentum-in-eurodry-edry-should-keep-going
| 2024-01-26T13:29:21Z
|
blocked_url
|
While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Investors looking to make a profit from stocks that are currently on the move may find our "Recent Price Strength" screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
There are several stocks that passed through the screen and Soleno Therapeutics, Inc. (SLNO - Free Report) is one of them. Here are the key reasons why this stock is a solid choice for "trend" investing.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. SLNO is quite a good fit in this regard, gaining 97% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 18.6% over the past four weeks ensures that the trend is still in place for the stock of this company.
Moreover, SLNO is currently trading at 95.6% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in SLNO may not reverse anytime soon.
In addition to SLNO, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
|
https://www.zacks.com/stock/news/2216376/heres-why-momentum-in-soleno-therapeutics-inc-slno-should-keep-going
| 2024-01-26T13:29:28Z
|
blocked_url
|
Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.
Should You Consider Rivian Automotive?
The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. Rivian Automotive (RIVN - Free Report) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at -$1.34 a share 26 days away from its upcoming earnings release on February 21, 2024.
RIVN has an Earnings ESP figure of +2.79%, which, as explained above, is calculated by taking the percentage difference between the -$1.34 Most Accurate Estimate and the Zacks Consensus Estimate of -$1.37. Rivian Automotive is one of a large database of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
RIVN is part of a big group of Auto, Tires and Trucks stocks that boast a positive ESP, and investors may want to take a look at Allison Transmission (ALSN - Free Report) as well.
Allison Transmission, which is readying to report earnings on February 13, 2024, sits at a Zacks Rank #2 (Buy) right now. It's Most Accurate Estimate is currently $1.48 a share, and ALSN is 18 days out from its next earnings report.
For Allison Transmission, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.42 is +3.63%.
Because both stocks hold a positive Earnings ESP, RIVN and ALSN could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
|
https://www.zacks.com/stock/news/2216379/why-investors-need-to-take-advantage-of-these-2-auto-tires-and-trucks-stocks-now
| 2024-01-26T13:29:34Z
|
blocked_url
|
Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Investors looking to make a profit from stocks that are currently on the move may find our "Recent Price Strength" screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
Nomura Holdings (NMR - Free Report) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for "trend" investors.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. NMR is quite a good fit in this regard, gaining 24.7% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 13.1% over the past four weeks ensures that the trend is still in place for the stock of this financial services company.
Moreover, NMR is currently trading at 96.6% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in NMR may not reverse anytime soon.
In addition to NMR, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
|
https://www.zacks.com/stock/news/2216381/heres-why-trend-investors-would-love-betting-on-nomura-nmr
| 2024-01-26T13:29:40Z
|
blocked_url
|
While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.
The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive.
Investors looking to make a profit from stocks that are currently on the move may find our "Recent Price Strength" screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
AxoGen (AXGN - Free Report) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for "trend" investors.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. AXGN is quite a good fit in this regard, gaining 150.3% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 38.2% over the past four weeks ensures that the trend is still in place for the stock of this regenerative medicine company.
Moreover, AXGN is currently trading at 84.5% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in AXGN may not reverse anytime soon.
In addition to AXGN, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
|
https://www.zacks.com/stock/news/2216382/heres-what-could-help-axogen-axgn-maintain-its-recent-price-strength
| 2024-01-26T13:29:46Z
|
blocked_url
|
Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.
Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase, investors find themselves invested in shares that have limited to no upside or even a downside. So, betting on a stock just by looking at the traditional momentum parameters could be risky at times.
It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.
There are several stocks that currently pass through the screen and Boise Cascade (BCC - Free Report) is one of them. Here are the key reasons why this stock is a great candidate.
Investors' growing interest in a stock is reflected in its recent price increase. A price change of 3.4% over the past four weeks positions the stock of this engineered wood products and plywood company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. BCC meets this criterion too, as the stock gained 32.9% over the past 12 weeks.
Moreover, the momentum for BCC is fast paced, as the stock currently has a beta of 1.61. This indicates that the stock moves 61% higher than the market in either direction.
Given this price performance, it is no surprise that BCC has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped BCC earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Most importantly, despite possessing fast-paced momentum features, BCC is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. BCC is currently trading at 0.78 times its sales. In other words, investors need to pay only 78 cents for each dollar of sales.
So, BCC appears to have plenty of room to run, and that too at a fast pace.
In addition to BCC, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
|
https://www.zacks.com/stock/news/2216384/fast-paced-momentum-stock-boise-cascade-bcc-is-still-trading-at-a-bargain
| 2024-01-26T13:29:53Z
|
blocked_url
|
BANGKOK - The Thai authorities have seized two pet lions from a rental house in the eastern province of Chonburi after a complaint about the animals being on the loose.
The complaint was posted on Facebook earlier this week, saying that two pet lions kept by the tenant of the house were seen roaming the street on several occasions, causing safety concerns among the locals.
Chonburi police and officials from the Department of National Parks, Wildlife and Plant Conservation (DNP) on Jan 25 raided the house in the Bang Lamung district and found a male lion and a white lioness, aged 10 months, as well as two Rottweiler dogs in the one-storey house.
The house was occupied by Jarinyaporn Kaewsai, 28, and two of her employees.
Jarinyaporn admitted to owning the animals, explaining that the lions sometimes escaped when the electronically controlled gates malfunctioned.
She presented evidence of the purchase of the lions from a zoo in Nakhon Pathom province for 500,000 baht (S$18,830) each in December 2022 when they were 45 days old.
Officials however found two discrepancies: the document showed two male lions, while the microchip numbers – which is a requirement for owning a lion – matched only one of the lions to the database.
Lions are a protected animals under the CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora).
Officials also found that the owner did not file a registration for ownership of lions with the DNP, violating the laws on protected animals.
Jarinyaporn added that she is in the process of selling the lions back to the zoo, which will pick them up in two days.
DNP officials used tranquiliser darts on the lions before transporting them to Bang Lamung Wildlife Breeding Centre for further investigation, and police charged Jarinyaporn with violating the Wild Animal Reservation and Protection Act.
Police said the farm that sold the lions to Jarinyaporn is the same establishment that had sold a lion cub to a Thai woman, who was charged on Jan 25 with unreported possession of a protected animal.
The investigation follows a viral video clip of a foreigner cruising around Pattaya City in a Bentley convertible with the lion sitting in the back.
Sawangjit Kosungnoen, the owner of the animal and a friend of the foreigner, was charged with violating the Wild Animal Reservation and Protection Act.
Police said failure to report possession of a lion is punishable by a maximum jail term of a year, a fine of up to 100,000 baht, or both. THE NATION/ASIA NEWS NETWORK
|
https://www.straitstimes.com/asia/se-asia/thai-police-seize-2-pet-lions-from-woman-who-said-she-bought-them-from-a-zoo
| 2024-01-26T13:58:27Z
|
blocked_url
|
KYIV - Ukraine has invited Chinese President Xi Jinping to participate in a planned "peace summit" of world leaders in Switzerland, a top diplomatic adviser to President Volodymyr Zelenskiy said, as Russia's invasion approaches its second anniversary.
China has close ties with Russia and has refrained from criticising its invasion of Ukraine but has also said the sovereignty and territorial integrity of all countries must be respected and has offered to help mediate in the conflict.
"We are definitely inviting China to participate in the summit, at the highest level, at the level of the President of the People's Republic of China," the adviser, Ihor Zhovkva, told Reuters in an interview this week.
"China's participation will be very important to us. We are working with the Chinese side. We involve our partners in the world so that they convey to the Chinese side how important it is to participate in such a summit."
China's Xi and Russian President Vladimir Putin declared a "no limits" partnership in Beijing just three weeks before Russia's invasion of Ukraine on Feb. 24, 2022. Since then, China has dramatically increased its Russian energy imports.
Putin says the invasion was necessary to protect Russia's own security, while Kyiv and the West say it is an unprovoked war of aggression and a land grab.
Neutral Switzerland agreed to host the Ukraine peace summit on Ukraine at Zelenskiy's request but no date or venue has yet been set. Zhovkva said teams were still working on the details.
PEACE PLAN
Zhovkva also said the national security advisers of a record 82 countries had taken part in talks this month in the Swiss town of Davos that focused on Ukraine's 10-point peace plan.
Russia has not been invited to the planned summit and has previously said Ukraine's 10-point plan will come to nothing.
That plan envisages the restoration of Ukraine's territorial integrity, withdrawal of all Russian troops, protection of food and energy supplies, nuclear safety, and the release of all prisoners of war.
"We will talk about a certain road map (at the summit) to implement this (peace) formula," said Zhovkva.
Ukraine is scrambling to maintain international support amid signs of war weariness among its Western allies after the failure of Kyiv's counteroffensive last year to bring a breakthrough on the battlefield. The frontlines have remained little changed and the war in Gaza has recently become a more pressing focus of global attention.
Zhovkva hailed the participation of many countries from the Global South at the Davos talks, saying Ukraine hoped to maintain this level at the summit.
China's representative participated in a meeting on Ukraine in Saudi Arabia last summer, and Xi and Zelenskiy have also spoken by phone.
Beijing last year put forward its own 12-point plan for peace in Ukraine that involves declaring a ceasefire but does not stipulate that Russia should withdraw from any of the territory it has seized. REUTERS
|
https://www.straitstimes.com/asia/ukraine-invites-chinas-xi-to-peace-summit-zelenskiys-top-adviser
| 2024-01-26T13:58:37Z
|
blocked_url
|
SINGAPORE - Alfie, a two-year-old dog, started losing its appetite and becoming lethargic on Jan 10, prompting its owner Joyce Tse to bring it to the vet a day later.
But just a week later, on Jan 17, the cavapoo – a cross between a Cavalier King Charles Spaniel and a miniature poodle or toy poodle – had a cardiac arrest and died. It had been in intensive care for two days before that.
“It’s a lot of pain, we are struggling still”, was all the 34-year-old human resources manager could manage when asked about her pet’s death.
Blood tests revealed that Alfie had been infected with leptospirosis, a bacterial infection primarily spread through the urine of rodents. It can affect both animals and humans.
Vets that The Straits Times spoke to said that there has been a spike in cases of leptospirosis over the last month.
Dr Esther Lam from the Paws N’ Claws veterinary surgery clinic in Sin Ming said she used to see one suspected case of leptospirosis every few months, but she has been seeing at least two suspected cases weekly since early December 2023.
Responding to queries from ST, the Animal and Veterinary Services (AVS) said that it was notified of four confirmed cases of leptospirosis in the past two weeks. This is compared with an average of fewer than 20 reported cases each year, from 2021 to 2023, said the services’ group director Kelvin Lim.
Dr Lim said that the recent reports were from the Upper Thomson and neighbouring Shunfu areas, and that both AVS and the National Environment Agency are investigating the matter.
He added: “AVS has sent a circular to all veterinarians to inform them of the leptospirosis cases, and to remind them to report any suspected or confirmed cases of leptospirosis.
“There have been no reported human cases of leptospirosis associated with the recent animal cases.”
Ms Tse suspects Alfie had been infected by rats in her neighbourhood in Upper Thomson.
“We noticed there are rats around the estate but, perhaps due to the increase in rainfall, there might have been more contaminated water on grass patches where Alfie caught the illness,” she said.
Leptospirosis was gazetted as a notifiable disease in 2016 by the Ministry of Health, which means that doctors encountering cases of the disease in humans are required to notify the ministry.
The disease is also listed in the Schedule of the Animals and Birds (Disease) Notification, requiring vets and pet owners to report suspected or confirmed cases to AVS.
Humans and animals can be infected by the leptospira bacteria through cuts and abrasions on the skin or coming into contact with the urine and bodily fluids of infected animals.
“Indirect infection can occur through contact with water or wet soil contaminated with the urine of infected animals,” said Dr Lim.
Symptoms of the disease in dogs can include fever, vomiting, diarrhoea and an inability to pass urine, while infected humans may experience fever, headaches and muscle aches, abdominal pain, vomiting, diarrhoea and rash.
While the majority of human cases are asymptomatic or only present mild symptoms, the disease can worsen and prove fatal, such as the case of a 21-year-old full-time national serviceman who died in 2017.
AVS has advised dog owners to keep their dogs’ leptospirosis vaccinations updated and to reduce their dogs’ exposure to water or soil that may be contaminated.
Dr Lim said: “The vaccine reduces the chance of the dog being infected and helps prevent the shedding of bacteria in its urine.”
Alfie had been vaccinated for the disease as recently as Dec 27, 2023, said Ms Tse, adding that she later learnt from the vet that the vaccine protected it against only four strains of the bacteria.
Ms Tse said: “I would urge all dog owners to protect their dogs in their day-to-day activities, for example, shortening the length of walks, avoid playing in places with water patches, reduce interaction with other dogs.”
|
https://www.straitstimes.com/singapore/avs-nea-investigating-spike-in-leptospirosis-infections-among-dogs-in-upper-thomson-area
| 2024-01-26T13:58:48Z
|
blocked_url
|
SINGAPORE – Relatives, and even his own mother, did not like the idea of Mr Aeneas Liow working as a bus driver.
They thought it was a “tough, dangerous and tiring job” that was “unfit” for a young university graduate like him, Mr Liow, 27, told The Straits Times.
“But which job is not tough?” he countered. Furthermore, he has been fascinated by transportation since he was in primary school.
Despite not having the backing of his family members, Mr Liow, who graduated from the Singapore Institute of Technology in 2023 with a degree in air transport management, decided to follow his heart anyway.
He drove buses for public transport operator SMRT in 2019 and 2020 before pursuing his degree, during which he also steered shuttle buses for Comfort Delgro. On Jan 18, he successfully applied for a driving job with private firm Westpoint Transit.
In December 2023, Westpoint announced a revised pay structure where the starting monthly salary for driving a medium-sized bus is $3,500, while one for a driver of a 45-seater charter bus is $5,000.
This is above the starting salaries offered by private bus companies that range from $1,800 to $4,500, according to listings on recruitment websites.
Westpoint’s attractive figures are sweetened further by a joining bonus of $7,500 for those driving a medium-sized bus and $10,000 for those driving a 45-seater.
The only catch to the company’s bonus offer is that hired drivers must serve a three-year bond and will receive the quantum in batches, up till their sixth month. If they decide to leave before the full bond is served, they must pay back a pro-rated portion of the bonus.
Westpoint director Lionel Lee told ST that Mr Liow – who will be driving a medium-sized bus – is one of seven candidates that the company has offered a job to.
Since its December announcement, Westpoint has received over 1,300 applications, 30 of whom are graduates like Mr Liow, added Mr Lee. Westpoint aims to hire up to another 23 Singaporean or permanent resident drivers by mid-April.
Mr Lee, 37, is a second-generation leader of Westpoint and said that he decided to offer a more attractive salary, and joining bonus, to potential drivers to beat a manpower crunch.
Before its hiring campaign, most candidates who applied for Westpoint’s job postings were over 45 years old, he said, adding that there is a lack of newcomers as many young people view bus-driving as a labour-intensive job that does not pay well.
The search for younger local drivers, said Mr Lee, is crucial because of the Ministry of Manpower’s foreign employee quota. For example, a company in the services sector with 10 local employees can potentially hire up to five foreign workers, including one S-Pass holder.
“If we do not try to solve this problem now, the shortage of drivers will become a serious issue in the next five to 10 years,” said Mr Lee, who took over the reins of the company from his parents in January 2022.
He added: “We can wait for the Government to give us more quota to hire foreigners, but (as a private transport provider), I feel that we need to take the initiative, lead the way in setting an example and make this industry ready for the future.”
In contrast, about 53 per cent of the total applications for Westpoint’s job openings were made by those under the age of 45. Of the seven hired, five are under 45, and two are graduates.
Those figures appear to show that younger members of the workforce have been swayed by the competitive salaries offered by Mr Lee and his company, which are comparable with what fresh graduates earn in other industries.
According to the Joint Autonomous Universities Graduate Employment Survey 2022, the median gross monthly salary among fresh graduates in full-time permanent jobs was $4,200 in 2022.
“It is unfortunate that drivers do struggle financially to make ends meet and we often hear things like, ‘I hope my children don’t become bus drivers’,” said Mr Lee, who said he has set aside about $750,000 for the hiring push.
“I hope that (this initiative) will right this wrong so that the drivers get the remuneration they deserve. We need to take care of our people first, followed by the product, before the profits can come in.”
Other private bus transport operators ST spoke to echoed the same challenges Mr Lee highlighted, and said that high incentives are not common in the industry.
Tian Lang Xing Singapore director Eugene Khoo, whose company offers a joining bonus of $2,000 with a nine-month bond, said that the salary package it offers is subjective and varies based on the project a driver signs up for, which can include transportation for events like school trips.
Long Lim Group operations manager Ang Zi Wei said joining bonuses may affect smaller companies which cannot compete on that front.
“Some drivers will job-hop to those companies offering it,” said Mr Ang, adding that his company, which started in 2011, mainly operates school buses and cannot offer more than those serving tour groups, which usually pay better.
Mr Phillip Peh, president of the Singapore School and Private Hire Bus Owners’ Association, said the association does not dictate the salaries or incentives offered by private bus companies.
However, Mr Peh, who is also the general manager of Tong Tar Transport, welcomed the move to offer high retention and joining bonuses as a way to attract newcomers to the trade.
Human resources expert Jasper Toh noted that the salary and incentives offered by companies like Westpoint may be attractive to woo university graduates to join them at the start but these new hires may become more concerned with growth opportunities and exposure as they advance their careers.
“Younger job seekers are looking for more variety in learning and upskilling opportunities,” said Mr Toh, the director of human resource firm Impact Best.
“A (planned) career progression that allows horizontal progression of moving into a back-office role after getting exposure puts the employer in a better position for talent retention.”
“Also, with the possible integration of technology, such as autonomous driving, it would be more ideal to put focus on career planning for the next three to five years and highlight more opportunities for horizontal or cross-department progression.”
When asked if Westpoint’s pay was comparable with his last salary at SMRT, where he spent three months as an executive after graduating, Mr Liow agreed.
“It’s a slight pay cut from my former position, but I don’t mind as I get to pursue my interest and there are fewer commitments as well,” he said
“Being a bus driver may seem like a dead end to some but I feel that opportunities are created by oneself. I hope that I can go into the office whenever I’m free to learn more about (Westpoint’s) operations and grow in the company.”
|
https://www.straitstimes.com/singapore/how-dangling-a-10k-carrot-has-helped-one-private-bus-company-woo-younger-s-porean-drivers
| 2024-01-26T13:58:58Z
|
blocked_url
|
SINGAPORE – When Professor Marcus Ong, a senior consultant at Singapore General Hospital (SGH), looked into patient records from 2008 to 2020 to learn more about the characteristics and trends of heat-related injuries in Singapore, the findings surprised him.
He was expecting the bulk of the more than 400 patients to be seniors or children, who are particularly vulnerable to heat strain. Instead, two-thirds of the patients were young adults, mostly male, between the ages of 18 and 39.
Many of these young adults were exercising, and the main causes of heat illnesses were exertional. A number of them could be outdoor workers too, added Prof Ong, who is also director of Duke-NUS Medical School’s Health Services and Systems Research programme.
Moreover, more than 200 of the cases happened on Sundays and in December, which is one of the cooler months in Singapore.
He explained that heat strain is driven not just by weather – it is also driven by a person’s attire and activity. Singapore is also highly humid all year round, which affects thermal comfort.
Prof Ong presented these findings at a climate change and heat health seminar at Duke-NUS Medical School on Jan 26. The study was conducted in 2023.
There is little clinical data on the number and prevalence of heat-related illnesses here, Prof Ong said.
With the help of data scientists at Duke-NUS, he uncovered 426 patients between 2008 and 2020 who had been rushed to SGH’s emergency department with illnesses such as heatstroke, heat exhaustion and heat cramps. This is about 25 to 40 cases a year.
“We realised that there were a lot of major sports events that happen in December – marathons and even outdoor concerts,” Prof Ong noted.
Prof Ong, who has helped provide medical support at marathons and mass runs, said he has seen a few participants running in onesies and character costumes, instead of wearing proper exercise attire.
“That’s really crazy. It’s fun, but you can imagine, you feel hot just wearing a suit. Then you try to run in it.”
People may also have the tendency to underestimate their risk to heat illnesses in cool and wet weather, he added.
Slightly more than half of the 426 cases were Singapore residents, and the rest foreigners who were likely not acclimatised to the weather here.
Prof Ong recalled an Australian man who joined a local marathon the morning after landing in Singapore.
“He didn’t make it to the halfway mark and after 10km, he collapsed. He was brought to the hospital for heat stroke. It was quite bad. He was confused and drowsy. We had to send him to the ICU and intubate him.”
Prof Ong added that 14 per cent of the 426 patients were sent to the intensive care unit and two patients, both seniors, died.
Heat illnesses can be prevented and treated when addressed promptly without delays, he said. Addressing healthcare professionals at the seminar, he noted that there is a tendency to misdiagnose patients who are suffering from heat injuries, and that can be fatal.
He cited national serviceman Dave Lee, who died of heatstroke in 2018. The NSF was evacuated to a medical centre about 40 minutes after he was seen to be suffering from signs of heat injury. Corporal First Class Lee’s supervising officer had even initially asked for a ground sheet to cover the late NSF as his arm was cold.
Prof Ong noted that a patient’s core body temperature, instead of skin temperature, should be measured to diagnose heat-related illnesses. Seizures are also a complication of heat stroke, which can be misdiagnosed as epilepsy.
Before Prof Ong embarked on this study with his Duke-NUS colleagues, there were only two published epidemiological reports about heat illnesses in Singapore. One is more than a decade old, and the other is specific to the military.
While data from SGH shows that younger adults are more at risk of heat illnesses, this trend could change as Singapore faces rising temperatures amid climate change.
Moving forward, Prof Ong and his team are hoping to expand their clinical studies and build a registry of heat-related health cases by working with hospitals here.
|
https://www.straitstimes.com/singapore/majority-of-heat-injury-patients-at-sgh-are-young-adults-aged-18-to-39-study
| 2024-01-26T13:59:09Z
|
blocked_url
|
SINGAPORE - The paladin, the cleric and the bard are classic fantasy role-playing archetypes, but they are now also playable characters in a new interactive exhibition about every Singaporean’s role in times of crisis.
The exhibition, titled Total Defence For Thee!, adopts gamification and interactive elements to showcase how Total Defence is integral to addressing evolving threats and challenges.
Visitors will be transported into a world modelled as a role-playing game at the interactive exhibition – held at the Singapore Discovery Centre from Jan 22 to Mar 17 – that reimagines Singapore’s Total Defence history in a cyberpunk setting.
Players will start the game by viewing some challenges Singapore has faced in the past, such as the Covid-19 pandemic, how it overcame them and how they are related to the six pillars of Total Defence – military, civil, economic, social, psychological and digital. They then select their character and avatar, which are themselves representative of the six pillars.
An example of this is the cleric, which, as a healer, represents Singapore’s first responders.
They will then play the interactive game on different stations that are in a physical maze, and face scenarios where they have to make choices on how to proceed by rolling an electronic die.
Players who complete the game can collect prizes in the form of pins and take a pledge to Total Defence.
Visitors will also be able to play laser tag battles, in which the objective is to capture the flag of the opposing team, on the weekends of Jan 27 and 28, and Feb 17 and 18.
Mr Joseph Tan, chief executive of Defence Collective Singapore (DCS), which runs the Singapore Discovery Centre and is organising the exhibition, told The Straits Times that the unusual format for the exhibition is aimed at secondary and post-secondary school students, as well as full-time national servicemen.
“We want to do it in an innovative way for the young people to ask themselves ‘what would you do?’ and this was how the concept of a role-playing style exhibition came about.”
There will also be a smaller exhibition showcase at the Singapore Navy Museum from Feb 7 to Mar 17, as well as an abridged mobile exhibition at select post-secondary educational institutions from February.
Roving exhibitions will make appearances at public locations like town hubs and libraries, although the exact dates and locations of these are still to be decided.
The abridged exhibition can be viewed at the Total Defence Convention that is scheduled to be held in April 2024. The convention will serve as a focal point for Total Defence stakeholders and will be a significant event for TD40 commemorations.
Introduced in 1984 as a whole-of-society defence concept, the Republic will mark 40 years of Total Defence with a year-long campaign focused on Singaporeans’ readiness and resilience in the face of crises and disruptions.
The activities planned include an inaugural islandwide exercise from Feb 15 to 29 simulating food, water and power disruptions to schools and public and private organisations in the wake of an attack on Singapore, including cyber attacks.
|
https://www.straitstimes.com/singapore/role-playing-game-styled-exhibition-to-mark-40-years-of-total-defence
| 2024-01-26T13:59:19Z
|
blocked_url
|
LONDON - Juergen Klopp is about as far from Liverpool's traditional "boot room" production line of managers as it is possible to imagine but the German built a seemingly unlikely bond with Anfield just as some of the greats who went before him.
Bill Shankly will always be the man who turned the club into a world power and Bob Paisley will probably never be surpassed in terms of success both domestically and in Europe.
Kenny Dalglish was worshipped as a player and manager and is similarly adored for his conduct around and since the Hillsborough tragedy.
Those men all flourished when Liverpool were invariably the strongest team in England, when Manchester United couldn't buy a title and the likes of Chelsea and Manchester City were often battling to get out of the lower divisions on a shoestring.
When Klopp arrived from Borussia Dortmund in 2015, however, they were in the doldrums, at least domestically, and had not won the league since 1990 - an extraordinary drought for a club that had topped the table 11 times since 1973.
The suffering was amplified by the fact it was Manchester United who had indisputably replaced them as the big beasts of English football, and though Liverpool were still a formidable cup team, highlighted by the Miracle of Istanbul Champions League victory over AC Milan, the league struggles hurt.
When Klopp replaced Brendan Rodgers in October, 2015 he immediately endeared himself to the Liverpool public by describing himself as "the normal one" - in reference to Jose Mourinho's "I am a special one" proclamation when he joined Chelsea, but adding "it is not a normal club, it is a special club".
MADE IN HEAVEN
That was music to the ears of supporters who always like to consider their city and outlook a little bit different from the rest of the country and it soon became clear it was a match made in heaven.
In announcing his planned departure at the end of the current season, Klopp said on Friday: "I love absolutely everything about this club, I love everything about the city, I love everything about our supporters, I love the team, I love the staff. I love everything."
The feeling is mutual. Klopp quickly understood the emotion that drove the club, the impact of Hillsborough, the respectful city rivalry with Everton and the far more visceral rivalry with Manchester United.
He knew the power of The Kop and engaged with the fans to gain the maximum benefit from that famous Anfield atmosphere, as he ran to them with his famous fist-pumping celebration, with his frenzied, toothy laughter, they roared their appreciation and loved him back for recognising it.
That symbiotic relationship peaked in the 2019 Champions League semi-final, when, after losing the first leg 3-0 in Barcelona, Liverpool triumphed 4-0 in the return on an astonishing Anfield night.
Beating Tottenham Hotspur in the final almost felt like an after-thought but a sixth European title had the Liverpool fans walking tall again.
The following year came the long-awaited Premier League title, won emphatically with seven games to spare and securing Klopp's place in the hearts of the Liverpool fans who had been waiting 30 long years for a return to the top.
The Club World Cup, FA Cup, League Cup and Super Cup have also been lifted during his tenure and, though he said on Friday he just did not have the energy to keep pounding away, Klopp is not about to slip away quietly.
Leading the Premier League, facing Chelsea in the League Cup final and still going strong in the FA Cup and Europa League, Liverpool are flying and Klopp can now enjoy every step of what will be an emotional five-month lap of honour. REUTERS
|
https://www.straitstimes.com/sport/football/anything-but-normal-klopp-has-real-connection-with-liverpool-fans
| 2024-01-26T13:59:29Z
|
blocked_url
|
World soccer governing body FIFA's appeal committee confirmed on Friday its three-year ban on Luis Rubiales after dismissing an appeal by the former Spanish Football Association head.
Rubiales was banned for three years from all football-related activities on Oct. 30 after kissing player Jenni Hermoso on the lips, allegedly without consent, following Spain's Women's World Cup final win over England in August. REUTERS
|
https://www.straitstimes.com/sport/football/fifa-dismisses-rubiales-appeal-against-three-year-ban
| 2024-01-26T13:59:40Z
|
blocked_url
|
LIVERPOOL, England - Juergen Klopp, one of Liverpool's most successful managers, is leaving the Merseyside club at the end of the season saying he is running out of energy.
"I love absolutely everything about this club, I love everything about the city, I love everything about our supporters, I love the team, I love the staff," Klopp said in an extended interview on the team's website. "I love everything.
"But that I still take this decision shows you that I am convinced it is the one I have to take. It is that I am... running out of energy. I know that I cannot do the job again and again and again and again."
The 56-year-old's shock announcement comes on the heels of Liverpool reaching the League Cup final on Wednesday and amid a season that has his team in the running for four trophies and sitting atop the Premier League standings.
"After the years we had together and after all the time we spent together and after all the things we went through together, the respect grew for you, the love grew for you and the least I owe you is the truth – and that is the truth," he said.
The German joined Liverpool in October 2015 and has won the Champions League, Premier League, Club World Cup, FA Cup, League Cup and Super Cup, as well as the Community Shield during his time in charge.
Klopp has the highest win rate of any manager in Liverpool's history in all competitions at 60.7% and is the only manager to win each of the Premier League, Champions League, FA Cup and League Cup.
He led Liverpool to the Champions League in 2019, and the league title a year later, their first in 30 years and first of the Premier League era.
NO HEALTH CONCERNS
Asked whether he was leaving for health reasons, Klopp said: "I am healthy, as much as you can (be) at my age. Little bits and bobs, stuff like that, but nothing anybody has to be concerned about, so that's absolutely fine."
Klopp said he was struck by the idea to leave in November while meeting with the club about potential signings and next summer's camp.
"The thought came up, 'I am not sure I am here then anymore' and I was surprised myself by that," he said. "Of course last season was a super-difficult season and there were moments when at other clubs probably the decision would have been, 'Come on, thank you very much for everything but probably we should split here, or end it here.'
"For me it was super, super, super-important that I can help to bring this team back onto the rails. It was all I was thinking about. When I realised pretty early that happened, it's a really good team with massive potential and a super age group, super characters and all that, then I could start thinking about myself again and that was the outcome.
"It is not what I want to (do), it is just what I think is 100 per cent right. That's it."
Klopp said in an ideal world he would have waited until the end of the season to announce his departure, but that it is not possible to "keep things like this secret". He said after a "few sad faces for a few days" he hopes the team can return to business as usual.
When asked about the club's reaction, he said "They didn't smash a party!"
"We developed a really good relationship over the years, but I explained it and they know me now for so long that they know I don't say these kind of things and leave a little bit of the door open, 'Come on, try to convince me'... They just accepted it. Nobody was really happy," he added. REUTERS
|
https://www.straitstimes.com/sport/football/liverpool-manager-klopp-says-it-is-time-to-leave
| 2024-01-26T13:59:50Z
|
blocked_url
|
Liverpool manager Juergen Klopp has announced his decision to leave the club at the end of this season.
Following are quotes and reactions:
JAMIE CARRAGHER, FORMER LIVERPOOL PLAYER AND TELEVISION PUNDIT
"This news was always going to be a body blow to the club whenever it came. I just thought it would be another few years away. What a manager, what a man, let's go out with a bang Juergen."
FORMER LIVERPOOL MIDFIELDER RAY HOUGHTON
"I didn't think I was going to hear it today to be honest. I was at the midweek game, I've got to tell you, he was fist pumping with the fans, he joined in with the fans.
"What he's done for this club and his time being in charge, nothing short of phenomenal. To get them back winning the league, getting them to major finals, getting that pride back in the football club, the joy of playing for Liverpool."
PAUL MERSON, FORMER ENGLAND MIDFIELDER AND TELEVISION PUNDIT
"Wow! I know legend is used loosely but he will go down as a Liverpool legend! What a manager and will be missed big time by Liverpool and the Premier League."
GRAEME SOUNESS, FORMER LIVERPOOL PLAYER AND MANAGER
"I'm amazed, I just think the demands of that job, it's one of the best jobs in the world if you get it right and he has done that. It would appear he has got a team again but it's just the toll it takes on the individual.
"When I look at Juergen Klopp he is such a perfect fit for Liverpool cause he is on it, he's at it. He's aggressive, he's emotional and confrontational but that takes a toll. The pressure of being a manager at a big football club are enormous."
EDIN TERZIC, BORUSSIA DORTMUND MANAGER
"Juergen Klopp is an outstanding person. I was lucky enough to get to know him here. He has shaped our club and Liverpool like no other. I am sure that there will be another station in his coaching life, there will be a place where he will do a similarly good job."
THOMAS TUCHEL, BAYERN MUNICH MANAGER
"I have to digest that first, I can't say anything at the moment. Kloppo is one of the very best coaches in the world, he has always managed to influence the clubs where he worked. It's big news." REUTERS
|
https://www.straitstimes.com/sport/football/reactions-to-liverpool-manager-klopp-leaving-at-end-of-season
| 2024-01-26T14:00:01Z
|
blocked_url
|
MELBOURNE - Daniil Medvedev fought back from the brink to defeat Alexander Zverev 5-7 3-6 7-6(4) 7-6(5) 6-3 on Friday in a thrilling semi-final and reach the Australian Open title clash with the third seed gunning for his second Grand Slam trophy.
Having suffered heartbreak at Melbourne Park in back-to-back final defeats by Novak Djokovic and Rafa Nadal in 2021 and 2022, former U.S. Open champion Medvedev will hope to get third time lucky when he meets Italian youngster Jannik Sinner on Sunday.
Russian Medvedev positioned himself well behind the baseline to counter Zverev's booming serves and extend the rallies but he fired a series of early double faults to fall behind. He clawed his way back from two breaks down to draw level at 5-5.
Zverev struck again to move in front and raised his arms to huge applause after taking the first set with a superb backhand volley, having set up the opportunity by winning the previous point after an exhausting 51-shot rally.
The 26-year-old came into the net more and broke for a 3-2 lead in the second set which effectively helped him wrap it up, but Medvedev did not give up despite looking like he had just run a marathon and pinched the third set in a tiebreak.
Medvedev continued to push hard in a tense fourth set and the 27-year-old shrugged off a double fault in the tiebreak to level the contest, before breaking in the fifth game of the decider to lay the platform for his great escape. REUTERS
|
https://www.straitstimes.com/sport/tennis/medvedev-outlasts-zverev-to-book-sinner-showdown-in-melbourne-final
| 2024-01-26T14:00:11Z
|
blocked_url
|
JOHANNESBURG - South Africa hailed what it called a "decisive victory" for international rule of law on Friday, after the International Court of Justice ruled in favour of its request to impose emergency measures against Israel over its military operations in Gaza.
The court ordered Israel to prevent acts of genocide against the Palestinians and do more to help civilians, as it wages war against Hamas militants in the Gaza Strip.
It has not yet ruled on the core of the case brought by South Africa - whether genocide has occurred in Gaza.
Israel has called South Africa's allegations false and "grossly distorted", and said it makes the utmost efforts to avoid civilian casualties.
"Today marks a decisive victory for the international rule of law and a significant milestone in the search for justice for the Palestinian people," South Africa's department of international relations and cooperation said in a statement.
"South Africa sincerely hopes that Israel will not act to frustrate the application of this Order, as it has publicly threatened to do, but that it will instead act to comply with it fully, as it is bound to do."
It said South Africa would continue to act within the institutions of global governance to protect the rights of Palestinians in Gaza. REUTERS
|
https://www.straitstimes.com/world/court-ruling-against-israel-a-victory-for-rule-of-law-south-africa
| 2024-01-26T14:00:22Z
|
blocked_url
|
BARCELONA - Catalonia's regional leader on Friday denied allegations by Spain's spy agency CNI that he had secretly led a radical separatist protest group, which he said CNI had used as a pretext to snoop on him.
Pere Aragones told reporters he had received on Thursday some heavily redacted declassified CNI documents related to the alleged espionage he had been subject to, and he called for those responsible to be held accountable. He did not show the documents to reporters.
Canada-based group Citizen Lab that studies information controls that pose threats to human rights said in 2022 that in the wake of a failed independence bid in 2017, more than 60 people linked to the Catalan separatist movement, including Aragones, had been targeted by Pegasus spyware.
Asked about the documents, Spain's Justice Minister Felix Bolanos reiterated that the government did not know about nor authorise the alleged spying. He said the CNI and the court that approves its actions have no obligation to inform the government about their work.
Aragones said the declassified documents allege he was the behind-the-scenes coordinator of a group called CDR that staged sometimes violent protests, blocking train lines or attempting to storm the regional parliament.
"(The documents) make this affirmation that is obviously out of touch with any minimum sense of reality," Aragones told reporters, adding that the documents provided no explanation for such suspicions.
Aragones said the documents were full of falsehoods and their aim was to destroy the legitimate political project of Catalan independence from Spain.
Spain's minority leftist government relies on Catalan pro-independence parties to approve legislation and has given them concessions such as a recent bill on amnesty for separatists, but it has ruled out a referendum on Catalan independence.
Aragones' case is being investigated by a Barcelona court after he filed a complaint against former CNI chief Paz Esteban and spyware maker NSO Group. Esteban, who was sacked amid the political storm triggered by the allegations, was scheduled to testify on Friday before the court. REUTERS
|
https://www.straitstimes.com/world/europe/catalan-leader-denies-spy-agency-claim-he-led-separatist-protest-group
| 2024-01-26T14:00:32Z
|
blocked_url
|
ROME - African leaders converge on Rome this weekend for a summit where Prime Minister Giorgia Meloni will finally unveil a strategic plan aimed at redefining Italy's relations with the continent and curbing immigration.
The so-called Mattei Plan, named after the late Enrico Mattei who founded Italian energy giant Eni in the 1950s, has been billed as a cornerstone of Meloni's foreign policy as she looks to enhance Rome's diplomatic footprint.
More than 20 heads of state and government will be in Rome for the event, which kicks off with a dinner on Sunday ahead of the official summit on Monday where Meloni will present Italy as the natural bridge between Africa and Europe.
While the details of the plan have been kept secret, Italy has said it wants to serve as a transit hub for African energy while stimulating investment in an effort to curb illegal immigration across the Mediterranean.
"What needs to be done in Africa is to build cooperation and serious strategic relationships as equals, not predators," Meloni told a news conference this month.
"What needs to be done in Africa is to defend the right not to have to emigrate ... and this is done with investments and a strategy," she said, promising that Africa would be a priority for Italy during its current presidency of the Group of Seven.
The prime minister is set to outline an array of projects on Monday ranging from health and education to infrastructure and agriculture, with energy lying at the heart of the plan.
Rome has also said that 70% of its climate fund – an investment programme to promote international environmental projects – would be allocated to Africa.
CASH STRAPPED
One of the problems Meloni faces is that heavily indebted Italy does not have the funds needed to become a major player in Africa, where China, Russia and Arab states have grown increasingly assertive.
"It would be foolish to think you can compete with China, the United Arab Emirates, or even Turkey," said Arturo Varvelli, director of the Rome office of the European Council on Foreign Relations think-tank.
"To make sense, this will have to fit into a broader picture of existing European Union initiatives," he said.
Highlighting Italy's reliance on EU support, the presidents of the European Commission, Council and parliament are all expected in Rome for the summit.
Meloni will also lean heavily on the corporate sector, with state-controlled Eni certain to play a prominent role. Founder Mattei expanded Italy's presence in Africa, presenting his company as a friendly alternative to U.S. and French oil majors.
Taking advantage of Russia's exclusion from the European energy market following the 2022 invasion of Ukraine, Rome has said it should serve as an energy gateway transporting natural gas and hydrogen from Africa to its EU partners.
But climate change experts question the wisdom of sinking significant new investments into gas infrastructure when existing projects already guarantee Italy's energy security.
Climate think-tank Ecco said Italy should focus instead on renewable energy, estimating that Africa held about 60% of all the world's suitable areas for solar electricity production.
"So far, however, renewable energies have received only a fraction of the attention and funding compared to gas projects," it wrote in a report this week.
Meloni is not the first Italian leader to seek better ties with Africa and draw a veil over Italy's fraught colonial legacy, which Rome has never wanted to confront.
But since taking office in 2022, she has put greater focus on the region than most of predecessors, seeing economic cooperation as the best way to stem a surge of migrant arrivals.
"My goal is to work in Africa and block the departures in Africa," she said this month. REUTERS
|
https://www.straitstimes.com/world/europe/meloni-looks-to-reset-italys-relations-with-africa
| 2024-01-26T14:00:42Z
|
blocked_url
|
THE HAGUE - The United Nations' top court on Friday said it has jurisdiction to rule over emergency measures demanded by South Africa in its case against Israel's war in Gaza.
The World Court said it would not throw out the case, as Israel requested.
The reading of the ruling was ongoing.
Among the measures South Africa has requested was an immediate halt to Israel's military operation, which has laid waste to much of the enclave and killed more than 25,000 Palestinians, according to Gaza health authorities. REUTERS
|
https://www.straitstimes.com/world/europe/top-un-court-says-it-has-jurisdiction-to-rule-over-south-africas-demands-against-israel
| 2024-01-26T14:00:53Z
|
blocked_url
|
THE HAGUE - The United Nations' top court said on Friday that at least some rights sought by South Africa in its genocide case against Israel's war in Gaza are plausible.
With the reading still ongoing, the court said it recognises the right of Palestinians in Gaza to be protected from acts of genocide.
Palestinians appear to be a protected group under the genocide convention, the court said.
Friday's ruling at the International Court of Justice (ICJ) does not deal with the core accusation of the case - whether genocide occurred - but will focus on the urgent intervention sought by South Africa. REUTERS
|
https://www.straitstimes.com/world/europe/world-court-recognises-right-of-palestinians-in-gaza-to-be-protected-from-acts-of-genocide
| 2024-01-26T14:01:03Z
|
blocked_url
|
JERUSALEM/LONDON - Israel's government-run port of Ashdod has complained that a rival Chinese-run terminal at the northern port of Haifa has become a strategic risk during the Gaza war.
In a letter seen by Reuters, the chairman of the southern Israeli port warned the head of Israel's shipping and ports authority about the actions of countries designated by the West as an "axis of evil", and said China was among them.
Though close to Gaza and in range of rockets fired by the Palestinian militant group Hamas, Ashdod port has stayed open during the war in the coastal enclave.
But it suffered minor disruptions at the start of the nearly four-month-old war, and three ports in Haifa, one of which is run by China's SIPG, have received any extra cargo during the conflict.
Chinese container shipping lines COSCO and OOCL have suspended trade with Israel since Yemen's Houthis said they were targeting ships in the Red Sea linked to Israel, Britain or the United States in a show of solidarity with Hamas.
"In practice it (China) is maintaining a trade boycott on Israel," Shaul Schneider, chairman of the board of directors of Ashdod Port, said in the Jan. 17 letter.
He said Ashdod Port would halt information-sharing with the SIPG terminal and would no longer be a full partner in the sector's "sensitive situational assessments" that discuss emergency scenarios and "strategic threats."
The decisions taken by COSCO and OOCL in the past few weeks dealt a blow to Israel's position as an international trade hub. Should others follow suit, it could seriously harm the Israeli economy, which relies heavily on seaborne trade.
Israel's shipping and ports authority chief replied to Schneider's letter the following day. In his response, also seen by Reuters, he said he was surprised by the letter and called it "inaccurate to the point of being wrong."
It could cause "serious damage to Israel's seaborne trade and foreign relations and even damage the war effort", he said.
He said his authority cooperated with all Israeli security agencies and that SIPG's local subsidiary was a regulated Israeli company. COSCO's decision to halt Israel operations, he said, was "a business decision".
Israel's transport ministry, which oversees the ports, has previously said it us seeking to clarify COSCO's move.
CONCERN ABOUT CHINESE INVESTMENT
Israel has brought in global operators in recent years to run some of its ports in an efficiency drive designed to attract new trading partners. Ashdod is the last to remain state-owned.
While Ashdod and Haifa ports have been vying for market share, their rift highlights Israeli maritime concern about whether the Chinese investment is a security risk. The United States has expressed concern over the investment.
Haifa's Bayport Terminal, controlled by SIPG, told Reuters it "follows clear rules during an emergency, as other port terminals in Israel, and acts under the instructions of the Israeli authorities".
Asked whether it received any instructions during the war from the Chinese government, Bayport said its "business activities and goals are guided by its management and board of directors."
"The cargo volume in Israel is significantly affected by the current situation and the security risks. We obviously can’t estimate when things will get back to normal," it said, adding that the terminal "stands ready to support shipping companies, importers, exporters, and the Israeli economy, both in times of prosperity and crisis."
Regarding the Ashdod Port chairman's letter, Bayport had earlier said: "Unfortunately, there are those who are exploiting the situation these days to hurt competition and return the seaports in Israel to the days of a government monopoly."
COSCO and SIPG in China did not respond to requests for comment. Hong Kong based OOCL separately did not respond to a request for comment.
"China has always supported its companies and citizens in conducting normal trade exchanges with all countries including Israel," China's foreign ministry said in a statement.
China avoids being a direct party in any military conflicts, but has called for an authoritative Israeli-Palestinian peace conference and a timetable to implement a two-state solution.
SWELLING COSTS
The Israel-Hamas war began after gunmen from the Palestinian militant group killed about 1,200 people and took about 240 in an attack in southern Israel on Oct. 7, according to Israeli tallies. Palestinian health officials say more than 26,000 people have been killed in Israel's retaliatory military campaign in Gaza, which it says is intended to wipe out Hamas.
Denmark's A.P. Moller Maersk and Switzerland's MSC, the world's biggest container lines, continue to sail to Israel. Taiwan's Evergreen line has temporarily halted "accepting Israeli cargo".
Some merchant ships sailing close to the Red Sea are saying on their tracking positions that they have no relation to Israel or the United States, shipping data showed.
An Israeli official told Reuters the ports were protected by air defense systems, adding: "All the missiles that passed the (U.S.-led) coalition (warships protecting shipping), we took them out in the Red Sea."
He said Hamas strikes had not had a huge effect on Israeli infrastructure but that it would be "a very different story" if the Lebanese militant group Hezbollah "joins the party".
Ashdod has also faced other challenges.
Both it and another port in Haifa saw their traffic cargo drop in 2023, while traffic cargo more than doubled at the SIPG controlled terminal in Haifa.
Since the start of the year, ocean freight rates had almost doubled by Jan 22 for a 40-foot container sailing from Shanghai to Ashdod, according to global freight platform Freightos. Unions have warned about the risk to mariners at sea. REUTERS
|
https://www.straitstimes.com/world/israels-ashdod-port-sees-strategic-risk-from-china-during-gaza-war
| 2024-01-26T14:01:14Z
|
blocked_url
|
GENEVA - The United Nations Palestinian agency (UNRWA) said on Friday it had opened a probe into the alleged involvement of several of its employees in the Oct. 7 attacks in southern Israel by Hamas, and that it had severed ties with these staff members.
"The Israeli authorities have provided UNRWA with information about the alleged involvement of several UNRWA employees in the horrific attacks on Israel on October 7," said Philippe Lazzarini, UNRWA Commissioner-General.
"To protect the agency's ability to deliver humanitarian assistance, I have taken the decision to immediately terminate the contracts of these staff members and launch an investigation in order to establish the truth without delay." REUTERS
|
https://www.straitstimes.com/world/middle-east/un-palestinian-refugee-agency-investigates-staff-suspected-of-role-in-israel-attacks
| 2024-01-26T14:01:24Z
|
blocked_url
|
THE HAGUE – The United Nations’ International Court of Justice (ICJ) on Jan 26 ordered Israel to take all measures within its power to prevent acts of genocide as it wages war against Hamas militants in the Gaza Strip, but stopped short of calling for an immediate ceasefire.
In a highly anticipated ruling on a case brought by South Africa accusing Israel of state-led genocide, the court said Israel must ensure its forces do not commit genocide and take measures to improve the humanitarian situation for Palestinian civilians in the enclave.
Israel must take “immediate and effective measures to enable the provision of urgently needed basic services and humanitarian assistance to address the adverse conditions of life faced by Palestinians”, ruled the court in its verdict.
Israel must report to the court within a month on what it is doing to uphold the order.
The presiding Judge Joan Donoghue told representatives in The Hague that Israel’s large-scale military operation by land, air and sea has left Gaza to “become a place of death and despair”.
She added that the court was “acutely aware” of the extent of the human tragedy unfolding in the region and is deeply concerned about the continuing loss of life and human suffering.
There was sufficient evidence for genocide in the Gaza enclave and the court would not throw out the case as Israel requested, she said.
In the ruling, 15 of the 17 judges on the ICJ panel voted for emergency measures which covered most of what South Africa asked for, with the notable exception of ordering a halt to Israeli military action in Gaza.
Israel’s military operation has laid waste to much of the enclave and killed more than 26,000 people, according to Gaza health authorities. Israel launched its assault 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.
Prime Minister Benjamin Netanyahu said the charge of genocide levelled against Israel at the World Court was “outrageous” and said it would do whatever is necessary to defend itself.
“Like every country, Israel has an inherent right to defend itself,” he said in English. “The vile attempt to deny Israel this fundamental right is blatant discrimination against the Jewish state, and it was justly rejected.
“But the mere claim that Israel is committing genocide against Palestinians is not only false, it’s outrageous, and the willingness of the court to even discuss this is a disgrace that will not be erased for generations.”
Israel’s National Security Minister Itamar Ben-Gvir appeared to mock the World Court’s verdict.
“Hague shmague,” the minister wrote on X, the first Israel official to comment after the court ended its reading.
Palestine welcomes the provisional measures ordered by the ICJ, Palestinian Foreign Minister Riyad al-Maliki said in a televised speech on Jan 26.
“The ICJ judges assessed the facts and the law, they ruled in favor of humanity and international law,” he said.
He added that Palestine calls on all states to ensure the measures ordered by the court are implemented “including by Israel, the occupying power”.
South Africa hailed what it called a “decisive victory” for international rule of law and a “significant milestone” in the search for justice for the Palestinian people.
“South Africa sincerely hopes that Israel will not act to frustrate the application of this Order, as it has publicly threatened to do, but that it will instead act to comply with it fully, as it is bound to do,” said its department of international relations and cooperation.
Israel will have to halt fighting in the besieged Gaza strip if it wants to adhere to the ICJ’s orders, South Africa’s minister of international relations said after the ruling.
“How do you provide aid and water without a ceasefire? If you read the order, by implication a ceasefire must happen,” Mrs Naledi Pandor said on the steps of the seat of the court in The Hague.
South Africa’s deputy president Paul Mashatile and Justice Minister Ronald Lamola were seen cheering and dancing at a gathering of the governing African National Congress party following the court’s verdict.
The decision is an important development that contributes to isolating Israel and exposing its crimes in Gaza, senior Hamas official Sami Abu Zuhri said.
“We call for forcing the occupation to implement the court’s decisions,” he added.
Civilian casualties, destruction of infrastructure and the displacement of millions of Gaza’s population have been reported since Israel’s retaliatory military campaign to militant group Hamas’ Oct 7 attack.
South Africa argued two weeks ago that Israel’s aerial and ground offensive was aimed at bringing about “the destruction of the population” of Gaza.
In response, Israel had asked the ICJ, also called the World Court, to reject the case outright, saying it had a right to defend itself and was targeting Hamas fighters, not Palestinian civilians.
An Israeli government spokesperson on Jan 25 said it expected the UN’s top court to “throw out these spurious and specious charges”.
The ruling did not deal with the core accusation of the case - whether genocide occurred - but focused on the urgent intervention sought by South Africa. But it recognised the right of Palestinians in Gaza to be protected from acts of genocide.
ICJ rulings are binding and cannot be appealed against, although the court has no power to enforce them. They are sometimes completely ignored – it has ordered Russia to stop its invasion of Ukraine for example.
A ruling on whether Israel is committing genocide in Gaza will be for a second stage of the procedure and is likely to take years.
South Africa’s relations with Israel had soured after it brought the case to the top United Nations court.
El Al Israel Airlines said on Jan 26 it was suspending its route to Johannesburg at the end of March, citing a steep drop in demand after South Africa accused Israel of genocide at the World Court.
Israel’s flag carrier flies up to twice weekly non-stop to Johannesburg.
“Israelis don’t want to fly to South Africa,” said an El Al spokeswoman. “They are cancelling flights and planes are pretty empty...
“The fact that the Israelis don’t want to go to South Africa but do want to go to other places helps us decide that we’re pausing that route.” The company also cited the current security situation.
The 1948 Genocide Convention, enacted in the wake of the mass murder of Jews in the Nazi Holocaust, defines genocide as “acts committed with intent to destroy, in whole or in part, a national, ethnical, racial or religious group”.
Acts of genocide named in the convention include: killing members of the group, causing serious bodily or mental harm to members of the group and deliberately inflicting conditions of life calculated to bring about the destruction of the group in whole or in part. REUTERS
|
https://www.straitstimes.com/world/middle-east/un-s-world-court-orders-israel-to-take-all-measures-to-prevent-genocide
| 2024-01-26T14:01:34Z
|
blocked_url
|
Swab, swirl, drop – then pray there’s only one line. Nearly four long years after COVID-19 was officially declared a pandemic, many of us are familiar with the routine of lateral flow tests (LFTs) for the virus. But that time has also seen new variants pop up, including JN.1, which is now the most prevalent in the US and worldwide. Knowing whether or not you have the virus can still come in pretty handy, which begs the question: are existing LFTs still able to pick such new variants up?
How lateral flow tests work
Short answer – yes. The longer answer involves which part of the virus is actually being detected by the LFT and how SARS-CoV-2 mutates.
With environmental pressures, the virus that causes COVID-19 is constantly mutating over time in order to continue thriving in the population. Many variants of the virus have emerged from mutations in the spike protein, the part of a virus that mediates its entry into host cells, where it then begins to replicate.
But it’s not the spike protein that the vast majority of LFTs are looking for; it’s another type of structural protein called a nucleocapsid, or N-protein, which makes up the protective capsule that surrounds the viral genome. N-proteins don’t tend to mutate as much as spike proteins do, meaning that tests should still be able to pick them up.
“There’s always this fear that we’re going to have some mutation that’s now going to make the tests not work, but so far that’s not really the case,” said Dr Susan Butler-Wu, a clinical pathologist at Keck School of Medicine at the University of Southern California, speaking to NBC News.
Why might a test be negative?
Though that may well change in the future, in the meantime, there are a number of reasons why a test might not work even if someone does have COVID-19. One of them is testing before the virus has replicated enough to be detected.
“If you look at viral kinetics … on average, it usually takes three, four or five days for the virus to go from being very low levels to getting high enough for any test to pick up,” immunologist and epidemiologist Dr Michael Mina explained to CNN, adding that this hasn’t changed much with newer variants.
The CDC currently recommends that if you’ve been exposed to COVID-19, but don’t have any symptoms, to wait for at least five full days after exposure before taking a test. If you have symptoms, it’s suggested to take a test immediately. In both circumstances, if that test comes back negative, it’s advised to take another LFT after 48 hours, or get a PCR test.
All “explainer” articles are confirmed by fact checkers to be correct at time of publishing. Text, images, and links may be edited, removed, or added to at a later date to keep information current.
The content of this article is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of qualified health providers with questions you may have regarding medical conditions.
|
https://www.iflscience.com/can-covid-lateral-flow-tests-still-detect-the-new-variant-jn1-72647
| 2024-01-26T15:30:12Z
|
blocked_url
|
A single burst of light is precisely aimed at a tiny drone flying at breakneck speed far in the distance. Instants later, the deactivated drone crashes into the sea. Not a sound made, no human casualties, no messy explosions. A lethal, multimillion-dollar drone cleanly taken out by a shot that cost less than a good bottle of wine.
If you think this is a scene from a sci-fi movie, think again. Only a few days ago, a team of UK scientists and engineers successfully demonstrated that this is viable technology that could find its way on to the battlefield in the next five to ten years.
DragonFire, a £30 million technology program launched in 2017 and involving the UK government agency Defence Science and Technology Laboratory, missiles manufacturer MBDA, aerospace company Leonardo UK, and defense technology company QinetiQ, has passed its first field test by shooting down several drones off the coast of Scotland using laser beams.
Drones are unmanned and semi-automatic aircrafts capable of delivering deadly damage with pinpoint accuracy. They feature heavily on modern battlefields, including the Ukrainian war and the commercial naval routes in the Red Sea.
Shooting them down is not easy and typically involves firing missiles that cost up to £1 million each. While usually effective, defensive systems of this kind are costly and carry a significant risk of causing collateral damage; if a missile misses its target, it will eventually land somewhere and still explode.
However, you don’t have to cause a spectacular explosion to deactivate a drone; interfering with its control and navigation systems is more than enough. This is a job that a laser beam can do. Lasers are nothing but particularly bright and directional beams of light – a particular kind of electromagnetic radiation. A sufficiently powerful laser can interfere with any electronic device, causing it to malfunction.
Compared to standard missiles, a high-power laser system has a range of strategic advantages. It is surprisingly cheap to operate. Running DragonFire for ten seconds costs the equivalent of using a heater for an hour (less than £10 per shot).
Lasers are also free from the risk of collateral damage. Even if a laser misses its target, it will keep on propagating upwards and eventually be absorbed and scattered in the atmosphere. A laser is a beam of light, so it only propagates in straight lines, regardless of gravity. Also, they usually cover a small area of the order of a few millimeters – they are akin to a surgical intervention.
Lasers are therefore the defensive weapon par excellence; they can only be used to stop incoming threats, not cause significant harm. Lasers are also far less susceptible to countermeasures. By its very nature of being a beam of light, lasers travel at the fastest possible speed: the speed of light. Once a laser beam is fired, there is nothing else in nature that can catch up with it and neutralize it.
Laser beams have been used on the battlefield for quite some time. They are mainly used for tracking targets, remote sensing, and precision aiming. However, this is the first time that this type of technology has proven effective in a disruptive application.
Challenges remain
The reason it has taken so long to develop this weapon is that to disable a drone, you need a laser beam with significant intensity.
However, if the laser beam is too powerful, it can strongly interact with the air in the atmosphere, causing it to be absorbed or scattered. One needs to strike the perfect balance of beam parameters, such as its wavelength power and shape, to make sure that it can propagate over long distances without significant degradation.
A laser beam will also be particularly sensitive to atmospheric conditions. The presence of fog, rain, or clouds can significantly affect its performance.
Due to the increasing threat posed by drones and subsonic missiles on a global scale, the UK defense ministry is now accelerating the development of this technology, with the expectation of having it fielded on war vessels in the next five to ten years.
Several technical and scientific issues still need to be addressed. For example, keeping the pointing of the laser stable on a moving platform (such as a cruiser in choppy waters) is not a simple task. It is like trying to hit the bullseye on a dartboard while standing on a balance board. However, this will only affect the accuracy of the weapon, without increasing the risk of collateral damage.
It will also be necessary to decouple the laser system performance from the weather conditions. Water droplets and air drafts can scatter or absorb the laser, reducing its effects. One would need to precisely factor in variable weather conditions in the preparation of the beam to be fired. While this is not an impossible task, it is technically difficult.
A structured training program must also be established to ensure soldiers can efficiently operate such a high-tech system.
Nonetheless, these first tests demonstrate the viability and efficacy of this weapon, which promises to revolutionize modern warfare in the coming years.
Gianluca Sarri, Professor at the School of Mathematics and Physics, Queen's University Belfast
This article is republished from The Conversation under a Creative Commons license. Read the original article.
|
https://www.iflscience.com/drone-zapping-laser-weapons-now-effective-and-cheap-reality-72640
| 2024-01-26T15:30:18Z
|
blocked_url
|
NASA’s Ingenuity Mars helicopter has taken its final flight across the dusty plains of Jezero Crater. The first flying vehicle on another world, Ingenuity spent almost 1,000 days on the Red Planet carrying out test flights and helping its rover companion Perseverance navigate the Martian terrain, 33 times longer than NASA had initially planned. It was designed to perform five flights. In the end, it flew 72 times, faster and higher than even the goals of the mission team.
“The historic journey of Ingenuity, the first aircraft on another planet, has come to an end,” confirmed NASA Administrator Bill Nelson in a statement. “That remarkable helicopter flew higher and farther than we ever imagined and helped NASA do what we do best – make the impossible, possible. Through missions like Ingenuity, NASA is paving the way for future flight in our solar system and smarter, safer human exploration to Mars and beyond.”
On January 18, during its 72nd flight to establish its position, Ingenuity hovered at 12 meters (40 feet) over the ground for a handful of seconds before descending. And then disaster struck. At about 3 meters of altitude, Ingenuity lost contact with the rover. Once communications were re-established and images arrived, it became clear that this had been the last flight for the helicopter. One of its rotor blades was damaged, ending any future flights. The exact cause of the damage is yet to be established.
The mission is a shining legacy for the people involved in planning, constructing, and navigating the helicopter once it was on Mars. Beyond autonomous landing, Ingenuity was pushed to its very limits, flight after flight, performing three emergency landings, cleaning itself after dust storms, and surviving the Martian winter. These last two are the number one killers of robots on Mars
“At NASA JPL, innovation is at the heart of what we do,” Laurie Leshin, director at NASA’s Jet Propulsion Laboratory, said. “Ingenuity is an exemplar of the way we push the boundaries of what’s possible every day. I’m incredibly proud of our team behind this historic technological achievement and eager to see what they’ll invent next.”
Ingenuity flew for over two hours in total covering over 17 kilometers (11 miles). It assisted Perseverance by scouting the terrain ahead of the rover for interesting rocks and outcrops. The highest height it reached was 24 meters (79 feet). In its original mission, Ingenuity was expected to fly at a height of 3–5 meters (10–16 feet) for a maximum of 90 seconds per flight.
The Ingenuity team will perform final tests on the helicopter systems and download all the data and images from the onboard computer. Perseverance is too far away to take images of Ingenuity, so with little fanfare Ingenuity will be switched off. But it made history by proving controlled flight on another world was possible, paving the way for the next generation of flying vehicles on Mars.
“It’s humbling Ingenuity not only carries onboard a swatch from the original Wright Flyer but also this helicopter followed in its footsteps and proved flight is possible on another world,” said Ingenuity’s project manager, Teddy Tzanetos. “The Mars helicopter would have never flown once, much less 72 times, if it were not for the passion and dedication of the Ingenuity and Perseverance teams. History’s first Mars helicopter will leave behind an indelible mark on the future of space exploration and will inspire fleets of aircraft on Mars – and other worlds – for decades to come.”
Its name couldn’t have been better chosen; Ingenuity is truly a testament to the extraordinary things humans can do when we choose to.
|
https://www.iflscience.com/goodbye-ingenuity-humanitys-first-flying-vehicle-on-another-planet-72645
| 2024-01-26T15:30:24Z
|
blocked_url
|
Human remains that are over 2,000 to 2,500 years old have been recovered by archaeologists within the Police Service of Northern Ireland (PSNI). The discovery, what is essentially a new “bog body”, was made in peatland at an excavation site in Bellaghy in October 2023. At the time, police were made aware that human bones had been found at the site and it was unclear whether they were old or more recent.
“On initial examination, we couldn’t be sure if the remains were ancient or the result of a more recent death”, Detective Inspector Nikki Deehan explained in a statement.
“Therefore, we proceeded to excavate the body with full forensic considerations in a sensitive and professional manner. This approach also ensures that any DNA evidence could be secured for any potential criminal investigation. Ultimately this wasn’t the case in this instance.”
At first, the team carrying out the excavation discovered bones from a human's left lower leg and right arm. These included a tibia and fibula, as well as a humerus, ulna, and radius bone. As they continued to search, the team recovered more bones belonging to the same individual.
The first findings had been close to the surface, but the bones of a lower left arm and left femur were soon discovered about 5 meters (16.4 feet) south of the surface remains. Additional finger bones, fingernails, part of the left femur, and the breastbone were found upon further excavation.
Given the state of the remains, it is not possible to draw too many conclusions about the individual themselves. However, postmortem analysis conducted by a forensic anthropologist has determined that the individual was probably male, and between 13-17 years old when they died.
Bog bodies are human remains that have been naturally mummified in peat bogs, which contain acids that preserve bodies for centuries. Throughout history, thousands of people have been preserved in this way after their bodies fell into the muck, either after being murdered, sacrificed, or simply by accident.
Unlike some bog bodies, the remains of humans that are naturally mummified in peat bogs, these fragments have retained some of the individual’s skin, finger, and toenails, and maybe even a kidney.
“The well-preserved nature of the body meant radiocarbon dating could be used to ascertain the time of death,” Detective Inspector Deehan added.
“The radiocarbon dates have placed the time of death between 2,000 - 2,500 years ago, approximately 500 [BCE]. This is the first time radiocarbon dating has been used on a bog body in Northern Ireland, and the only one to still exist, making this a truly unique archaeological discovery for Northern Ireland.”
According to Dr Alastair Ruffel of Queen’s University Belfast; “To ensure the highest possible standards in forensic recovery of human remains were maintained, we conducted two phases of high-resolution ground penetrating radar survey at the site. The results showed no indications of further human remains.”
The remains were initially discovered about 1 meter (3.2 feet) below the current ground surface, which, Ruffel explained, “matches the radiocarbon estimates.” It seems the remains were also “amongst a cluster of fossil tree remains”, which suggests the individual “may have died or been buried in a copse or stand of trees, or washed in.”
The Chief Executive of Forest Services, John Joe O’Boyle, added: “Forest Service recognizes the significance of this very exciting find. This ancient bog body was discovered on land owned by the Department and we are now working with National Museums NI to transfer it to them so that they can continue with further examination and preservation of the remains.”
“I hope, in due course, the find will help us all understand better something of our very early history.”
|
https://www.iflscience.com/human-bog-body-found-by-police-in-ireland-could-date-back-to-500-bce-72649
| 2024-01-26T15:30:31Z
|
blocked_url
|
A new COVID-19 variant, JN.1, has taken the title of the most prevalent variant of the virus in the US, and also worldwide, according to the Centers for Disease Control and Prevention (CDC).
“JN.1 remains the most widely circulating variant of SARS-CoV-2 in the United States and globally,” states their latest report. In fact, as of January 20, the variant makes up almost 86 percent of all COVID-19 cases in the US, per the latest CDC figures.
The highly mutated strain is a descendant of Omicron – specifically the “Pirola” variant, BA.2.86 – and was first detected in the States back in September. By the end of October, it was responsible for less than 0.1 percent of SARS-CoV-2 viruses but has been on the rise ever since.
"Most likely, if you're getting COVID right now, you're getting this particular variant mutation," Eyal Oren, a director and professor of epidemiology at the School of Public Health at San Diego State University, told NPR.
Among the reasons for this latest surge of JN.1, Oren added, is the virus's rapid evolution: "our immune systems have not been able to keep up."
What are the symptoms of JN.1?
It’s thought that JN.1 presents similarly to previous variants. According to the CDC, these symptoms include:
- Fever or chills
- Cough
- Shortness of breath or difficulty breathing
- Fatigue
- Muscle or body aches
- Headache
- Loss of taste or smell
- Sore throat
- Congestion or runny nose
- Nausea or vomiting
- Diarrhea
However, there has been some evidence that people are reporting slightly different COVID symptoms this season, including trouble sleeping and anxiety.
Should we be concerned?
The fact that JN.1 has become so dominant could be taken as evidence that it’s more transmissible than previous variants, or better at evading the immune system. However, the CDC assures that “currently there is no evidence that it causes more severe disease.”
Still, COVID-19 infections, hospitalizations, and deaths have been elevated in recent weeks, especially in the eastern half of the country. People are advised to take the usual precautions by wearing masks, avoiding crowds, staying in when sick, and washing their hands.
The CDC recommends staying up to date with this season’s vaccinations for both COVID-19 and flu, which they say are “well-matched to the viruses that are most common and should offer good protection”.
“Current COVID-19 vaccines are expected to increase protection against JN.1, as they do against other variants, by helping prevent severe illness.”
The content of this article is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of qualified health providers with questions you may have regarding medical conditions.
|
https://www.iflscience.com/jn1-is-now-the-most-prevalent-covid-variant-worldwide-72643
| 2024-01-26T15:30:37Z
|
blocked_url
|
This week NASA’s Ingenuity Mars helicopter took its final flight, a newly discovered astronomical object is either the heaviest known neutron star or the lightest black hole, and a new gene therapy enables an 11-year-old boy to hear for the first time. Finally, we investigate the history behind BMI, and why it is not a measure of health.
Subscribe to the IFLScience newsletter for all the biggest science news delivered straight to your inbox every Wednesday and Saturday.
New Room Temperature Superconductor Throws Hat In The Ring – This Time, It’s Graphite
Superconductive materials can transmit electricity without resistance, making them fundamental for advanced and efficient technologies. The current drawback is that this property is only obtained below a certain temperature, often pretty close to absolute zero. Scientists are hunting for a material that would be superconductive at room temperature, and the latest “hat in the ring” for this quest is actually a pretty common material in a pretty peculiar configuration: graphite, the substance that makes up the writing part of pencils. Read the full story here
Goodbye Ingenuity, Humanity’s First Flying Vehicle On Another Planet
NASA’s Ingenuity Mars helicopter has taken its final flight across the dusty plains of Jezero Crater. The first flying vehicle on another world, Ingenuity spent almost 1,000 days on the Red Planet carrying out test flights and helping its rover companion Perseverance navigate the Martian terrain, 33 times longer than NASA had initially planned. Having proven that controlled powered flight on another world is possible, after its most recent flight, a brief loss of communication, and a bad landing, NASA has confirmed the mission has ended. Read the full story here
World’s First IVF Rhino Pregnancy Is Big Step To Saving Species On Brink Of Extinction
A huge breakthrough for endangered rhino species in Africa has been achieved through the world’s first in-vitro fertilization (IVF) rhino pregnancy. A team has successfully implanted a lab-created rhino embryo into a surrogate rhino mother for the first time, resulting in pregnancy. This could be a big step towards saving the northern white rhino, a species on the very brink of extinction. Read the full story here
Newly Discovered Astronomical Object Is Right On The Edge Of Two Extreme Possibilities
Astronomy is full of puzzling objects, and an international team of researchers has just added another juicy one: A dense compact object that has been spotted orbiting a pulsar. This in itself is not that groundbreaking – but the mass of this object is puzzling. It's in the so-called mass gap. Researchers are either observing the heaviest neutron star known or the lightest black hole. Read the full story here
11-Year-Old Boy Hears For First Time Ever Thanks To Gene Therapy Breakthrough
An 11-year-old boy who was born with an extremely rare form of deafness that is thought to affect only about 200,000 people worldwide has become the first patient to receive a new gene therapy procedure, and it’s allowed him to hear sounds for the first time in his life. Now, the procedure is being trialed on more children. Read the full story here
TWIS is published weekly on our Linkedin page, join us there for even more content.
Feature of the week:
Your BMI Is Not A Health Measure – Here's Why
In the last 50 years, the body mass index (BMI) has gone from a relatively obscure demographic tool to an ever-present gauge of personal worth. With the level of importance we tend to impart upon the metric, you might expect the BMI to be the result of years of research by health experts. It’s not. In fact, it was never meant to be used on individuals at all. Read the full story here
More content:
Have you seen our free e-magazine, CURIOUS? Issue 18 January 2023 is out now. Check it out for exclusive interviews, book excerpts, long reads, and more.
PLUS, the entire season 3 of IFLScience's The Big Questions Podcast is available now.
|
https://www.iflscience.com/room-temperature-superconductor-properties-found-in-graphite-worlds-first-ivf-rhino-pregnancy-and-much-more-this-week-72651
| 2024-01-26T15:30:43Z
|
blocked_url
|
Animals that can change color are observed more often than you might think across different species, habitats, and even body parts. While reindeer have eyes that change color in winter and fish can turn black with anger, documentary makers have witnessed the Labord's chameleon (Furcifer labordi) putting on a spectacular display at the end of her life.
"On reviewing the footage, we were amazed and moved by the colorful spectacle they had filmed – something that the scientists have never observed in the wild before," producer Valeria Fabbri-Kennedy and Chris Raxworthy, a herpetologist at the American Museum of Natural History, told Live Science.
Using time-lapse photography for the new PBS series Big Little Journeys, the team recorded the last few colorful hours of the chameleon's life in Kirindy Forest in western Madagascar. The researchers recorded her laying her eggs and covering them to protect them from the harsh weather extremes of a dry season in Madagascar.
"The females put all their energy into producing eggs that need to get through the long drought while underground," Fabbri-Kennedy and Raxworthy said. "They die within just a few hours of having laid them, as they have few resources left."
The colorful display occurs because of several layers of skin cells. According to Wired, the topmost layer is transparent while the layers beneath contain cells known as chromatophores. Each chromatophore has a different kind of pigment, some are deeper down and contain melanin, while those on top might have yellow or red pigments within types of chromatophores called xanthophores or erythrophores. When the chameleon changes temperature or mood, the sacs containing the pigments are triggered by the nervous system, which produces a whole array of colors across a chameleon's body.
"During death, nervous signals continue to transmit and to change the shape of the skin cells, creating the chaotic technicolor patterns that were captured," Fabbri-Kennedy and Raxworthy said.
The Labord's chameleon is an unusual chameleon species in the first place with a lifespan of just four to five months. In fact, the species spends more of its life as an egg developing for nine months before hatching. According to The Guardian, hatchlings typically emerge in November and are able to breed two months later. By February, they show signs of aging and even fall out of trees because of weakened grip.
Experts believe this shortened lifespan could be to cope with the harsh variations in season present in Madagascar. Regardless, we'll be watching the last colorful display of this female on repeat for the rest of the week.
[H/T: Live Science]
|
https://www.iflscience.com/world-first-footage-watch-a-labords-chameleons-final-colorful-display-before-her-death-72644
| 2024-01-26T15:30:49Z
|
blocked_url
|
One of the things we first learn about the animal kingdom is the difference between warm and cold-blooded animals. While reptiles bask in the sun to get warm, mammals – including those in the sea – must eat regularly to gain the energy needed to sustain a constant internal temperature. However, one mammal, trapped on a resource-poor Mediterranean island, did something rather extraordinary and reversed the norm, becoming the only cold-blooded mammal in the world.
A long-extinct goat species, Myotragus balearicus, once roamed across the land that would have connected the Balearic Islands to mainland Europe. Here it stayed, and as the Balearic Islands became surrounded by the sea the ancient goat found itself living on what is now the Spanish island of Mallorca.
At only 45 centimeters (17.7 inches) tall, these animals underwent a series of morphological changes resulting in shorter limbs, a smaller brain size, and smaller sense organs – effectively becoming a dwarf species – to survive. These goats are also the first animals to have been discovered with the same kind of bone structures that are found in reptiles.
Reptiles grow very slowly and have the ability to control or even completely stop their growth based on resource availability. This periodic slowing or cessation of the growth rate leaves telltale signs in the bones of these species.
By looking at the bone histology of the extinct goat, researchers found the same lamellar-zone tissues, which had previously only been found in ectothermic reptiles. The team compared the goat bones to those of crocodiles and found remarkable similarities, with the same ability to have slow and flexible growth rates, and even stop growing altogether. M. balearicus was also found to reach maturity quite late, by around 12 years; by contrast, a typical goat species might reach sexual maternity before 9 months of age, according to MSD Veterinary Manual.
Research also suggests that these goats would have had a much slower lifestyle than typical modern goat species. Rather than running and jumping over the island's rocks, they would have spent more time in the sunshine and become more more slow-moving.
"Myotragus not only decreased aerobic capacities [...] and behavioral traits [...] but also flexibly synchronized growth rates and metabolic needs to the prevailing resource conditions as do ectothermic reptiles," researchers Meike Köhler and Salvador Moyà-Solà wrote in a study published in Proceedings of the National Academy of Sciences in 2009.
Looking at the bones alone does bring controversy. In cold-blooded species or ectotherms, the bones are typically made of slow-growing lamellar bone. However, fast-growing fibrolamellar bones, typically found in warm-blooded species, have also been found in dinosaur species and in birds. The researchers take into account that there could be a third intermediate condition between what would be fully warm- or fully cold-blooded.
The dwarf goat M. balearicus makes an excellent study model, because the island on which it lived had no natural predators. On the resource-poor island of Mallorca it developed reptile-like traits that allowed it to survive for 5.2 million years, more than twice as long as species on the mainland.
However, because of the development of these traits, unfortunately the world's only cold-blooded mammal species did not survive the arrival of humans to the island around 3,000 years ago, which, coupled with a decline in their preferred plant species, likely caused their extinction.
An earlier version of this article was published in October 2023.
|
https://www.iflscience.com/worlds-only-known-cold-blooded-mammal-lived-on-an-island-and-aged-similar-to-a-crocodile-72641
| 2024-01-26T15:30:55Z
|
blocked_url
|
JOHANNESBURG - South Africa hopes Israel will comply with Friday's World Court order that Israel must take steps to prevent acts of genocide as it wages war against Hamas militants in the Gaza Strip, justice minister Ronald Lamola said in an interview.
The International Court of Justice (ICJ) ruled in favour of South Africa's request to impose emergency measures against Israel over its war in Gaza, but it stopped short of calling for an immediate ceasefire.
Lamola also told Reuters on the sidelines of a gathering of the governing African National Congress (ANC) party that South Africa's liberation hero Nelson Mandela would be smiling in his grave at Friday's ICJ judgment.
The ANC has long defended the Palestinian cause, a relationship forged when its struggle against oppressive white-minority rule was cheered on by Yasser Arafat's Palestine Liberation Organisation.
The ANC has likened Israel's actions to its struggle against apartheid, a comparison rejected by Israel. REUTERS
|
https://www.straitstimes.com/asia/south-africa-hopes-israel-will-comply-with-world-court-order-minister
| 2024-01-26T15:31:00Z
|
blocked_url
|
WASHINGTON - US prices rose moderately in December, keeping the annual increase in inflation below 3 per cent for a third straight month, which could allow the Federal Reserve to start cutting interest rates this year.
The personal consumption expenditures (PCE) price index increased 0.2 per cent in December 2023 after an unrevised 0.1 per cent drop in November, the Commerce Department’s Bureau of Economic Analysis said on Jan 26. In the 12 months through December, the PCE price index increased 2.6 per cent, matching November’s unrevised gain.
Economists polled by Reuters had forecast the PCE price index climbing 0.2 per cent on the month and rising 2.6 per cent year-on-year.
Excluding the volatile food and energy components, the PCE price index gained 0.2 per cent in December 2023 after rising 0.1 per cent in November. The so-called core PCE price index increased 2.9 per cent year-on-year, the smallest gain since March 2021, after rising 3.2 per cent in November. The Fed tracks the PCE price measures for its 2 per cent inflation target.
Monthly inflation readings of 0.2 per cent over time are necessary to bring inflation back to target, economists say.
The government reported on Jan 25 that core PCE inflation increased at a 2.0 per cent annualised rate in the fourth quarter after a similar rise in the July-September quarter. Though financial markets have pushed the probabilities of a March rate cut to below 50 per cent in a nod to the economy’s continued resilience, a reduction in borrowing costs is still expected by June.
The US central bank is expected to keep its policy rate unchanged at the current 5.25 per cent to 5.50 per cent range at its meeting next week. Since March 2022, the Fed has raised its benchmark overnight rate by 525 basis points.
Easing inflation is boosting household purchasing power, helping to drive consumer spending and the overall economy.
Consumer spending, which accounts for more than two-thirds of US economic activity, jumped 0.7 per cent in December 2023 after rising 0.4 per cent in November. When adjusted for inflation, overall consumer spending increased 0.5 per cent in December after a similar rise in the prior month.
The solid increase in the so-called real consumer spending puts consumption on a higher growth trajectory heading into the first quarter.
The data was included in the fourth quarter’s advance gross domestic product report published on Jan 25. Consumer spending increased at a strong 2.8 per cent rate last quarter, accounting for the bulk of the economy’s 3.3 per cent growth pace. REUTERS
|
https://www.straitstimes.com/business/economy/us-prices-rise-moderately-in-december-inflation-trending-lower
| 2024-01-26T15:31:11Z
|
blocked_url
|
The Straits Times
Toggle navigation
The Straits Times
Multimedia
The Straits Times
Edition
:
International
Singapore
Main navigation
Home
Singapore
Toggle Dropdown
Jobs
Housing
Parenting & Education
Politics
Health
Transport
Courts & Crime
Consumer
Environment
Community
Asia
Toggle Dropdown
SE Asia
East Asia
South Asia
Australia/NZ
World
Toggle Dropdown
United States
Europe
Middle East
Opinion
Toggle Dropdown
ST Editorial
Cartoons
Forum
Life
Toggle Dropdown
Food
Entertainment
Style
Travel
Arts
Motoring
Home & Design
Business
Toggle Dropdown
Economy
Invest
Banking
Companies & Markets
Property
Tech
Toggle Dropdown
Tech News
E-sports
Reviews
Sport
Toggle Dropdown
Football
Schools
Formula One
Combat Sports
Basketball
Tennis
Golf
More
Toggle Dropdown
Opinion
Life
Business
Tech
Sport
Videos
Podcasts
Multimedia
LOG IN
Subscribe
E-paper
Toggle navigation
The Straits Times
Toggle navigation
LOG IN
Subscribe
Edition
International
Singapore
ST Read & Win
E-paper
Main navigation
Home
Singapore
Toggle Dropdown
Jobs
Housing
Parenting & Education
Politics
Health
Transport
Courts & Crime
Consumer
Environment
Community
Asia
Toggle Dropdown
SE Asia
East Asia
South Asia
Australia/NZ
World
Toggle Dropdown
United States
Europe
Middle East
Opinion
Toggle Dropdown
ST Editorial
Cartoons
Forum
Life
Toggle Dropdown
Food
Entertainment
Style
Travel
Arts
Motoring
Home & Design
Business
Toggle Dropdown
Economy
Invest
Banking
Companies & Markets
Property
Tech
Toggle Dropdown
Tech News
E-sports
Reviews
Sport
Toggle Dropdown
Football
Schools
Formula One
Combat Sports
Basketball
Tennis
Golf
More
Toggle Dropdown
Opinion
Life
Business
Tech
Sport
Videos
Podcasts
Multimedia
SPH Websites
news with benefits
SPH Rewards
STJobs
STClassifieds
SITES
Berita Harian
Hardwarezone
Shin Min Daily News
STOMP
SGCarMart
SRX Property
tabla
Tamil Murasu
The Business Times
The New Paper
Lianhe Zaobao
Obits.sg
Advertise with us
In Pictures: Over 18,000 devotees take part in Thaipusam festival
The devotees perform penitential acts on their walk of faith for Hindu god Lord Murugan.
Updated
1 min ago
Published
6 min ago
More
Whatsapp
Linkedin
Twitter
FB Messenger
Email
Print
Purchase Article
Copy permalink
Copy to clipboard
https://str.sg/6Ap9
More than 18,000 devotees marked the annual rite of Thaipusam on Jan 25, 2024.
ST PHOTO: AZMI ATHNI
A kavadi bearer and other participants making their way to the Sri Thendayuthapani Temple in Tank Road during Thaipusam on Jan 25, 2024.
ST PHOTO: AZMI ATHNI
A devotee getting his body piercings removed at Sri Thendayuthapani Temple in Tank Road on Jan 25, 2024.
ST PHOTO: HENG YI-HSIN
Supporters of a kavadi bearer playing music and singing outside Sri Thendayuthapani Temple on Jan 25, 2024.
ST PHOTO: HENG YI-HSIN
In Singapore, Thaipusam is celebrated with a religious procession that starts at Sri Srinivasa Perumal Temple in Serangoon Road and ends at Sri Thendayuthapani Temple in Tank Road. This year, the festivities started at 11.30pm on Jan 24 and ended on the night of Jan 25.
ST PHOTO: HENG YI-HSIN
Wheelchair user Thirunavukarasu Sundaram Pillai, 52, bearing his kavadi – a structure made of wood and steel – at Sri Thendayuthapani Temple on Jan 25, 2024.
ST PHOTO: AZMI ATHNI
Devotees carrying milk pots while walking along Tank Road towards Sri Thendayuthapani Temple on Jan 25, 2024.
ST PHOTO: AZMI ATHNI
Mr Karthik Mohan, 40, having his kavadi attached to him using body piercings at Sri Srinivasa Perumal Temple on Jan 25, 2024.
ST PHOTO: AZMI ATHNI
A group of devotees playing traditional Indian percussion instruments during Thaipusam celebrations at Sri Srinivasa Perumal Temple on Jan 25, 2024.
ST PHOTO: AZMI ATHNI
Devotees with milk pots braving the rain as they walk along Serangoon Road in the early hours of Jan 25, 2024, as part of the Thaipusam procession.
ST PHOTO: SHINTARO TAY
Join
ST's Telegram channel
and get the latest breaking news delivered to you.
Today in Pictures
Festivals/Celebrations
Thaipusam
Back to the top
|
https://www.straitstimes.com/multimedia/photos/in-pictures-over-18000-devotees-take-part-in-thaipusam-festival
| 2024-01-26T15:31:21Z
|
blocked_url
|
SINGAPORE - A BreadTalk customer who was eating a snack she bought from the bakery chain bit into a stainless steel mould left by mistake in the pastry before it was baked.
The customer – in a post written in Chinese on social media platform Xiaohongshu on Jan 8 – said she bought the pastry from a BreadTalk outlet at Plaza Singapura on Jan 7.
She added that she “almost collapsed” after she bit into the mould while eating the pastry the next morning, saying it was “outrageous”.
In response to queries, a BreadTalk spokesperson said it was “an unfortunate oversight by our kitchen team during the baking process in-store”.
She added: “BreadTalk takes the matter seriously and we immediately removed the product from all our outlets.”
She said the bakery chain offered items including a gift hamper, a dining card and the cost of any dental work she may have incurred, but the customer rejected the offer.
On Jan 12, the customer put up a second post on Xiaohongshu. Writing again in Chinese, she said she rejected the offer because it felt insincere. She added that she hoped the bakery chain will take the matter seriously.
The BreadTalk spokesperson said: “We are reviewing and updating all our internal procedures to prevent similar incidents in the future, including conducting a comprehensive retraining session for all staff members.
“We deeply regret this incident and the discomfort experienced by the customer. Our customers’ well-being and food safety remains our top priority, and we remain committed to upholding rigorous standards.”
The customer on Xiaohongshu said she has filed a complaint with the Singapore Food Agency (SFA). Attempts to contact the woman have been unsuccessful.
In response to queries, a spokesman for SFA said it is investigating this incident. “SFA takes a serious view towards food safety and will investigate all feedback alleging poor food safety practices,” he added.
Anyone who has concerns about food safety practices can lodge a report at www.sfa.gov.sg/feedback
|
https://www.straitstimes.com/singapore/breadtalk-customer-bites-into-stainless-steel-mould-accidentally-left-in-pastry-rejects-compensation
| 2024-01-26T15:31:32Z
|
blocked_url
|
SINGAPORE – A new study led by a team comprising a local researcher has linked certain types of gut bacteria to specific pre-cancerous colorectal polyps, which are growths on the inner lining of the colon that can become cancerous over time if they are not removed.
The findings increase the likelihood of using a microbial test kit to determine if one has these polyps, particularly those that are not easily detected by current screening methods.
One can then make specific changes to the diet or gut microbiome – the ecosystem of bacteria, fungi and other microbes found in the digestive system – to alter the growth patterns of the polyps to prevent them from turning into cancer.
“Maybe in the future, you need to know what type of microbes you have and based on that, you can personalise the preventive diet to reduce the risk,” said the study’s first and corresponding author, Dr Jonathan Lee, a consultant at the gastroenterology and hepatology division at the National University Hospital (NUH).
Generally, a high-fibre, low-processed diet rich in fruits, vegetables, nuts and seeds, is known to help beneficial bacteria to flourish in the gut and reduce one’s risk of colorectal cancer.
However, a one-size-fits-all approach does not work all the time, as some people may need to reduce their fibre intake or stop eating red meat while others need to increase their fibre intake, he added.
“In the past, the school of thought was that you could manipulate what you eat. Now, if you could manipulate what you eat plus your innate microbes, you can get a better outcome,” he said.
The study was published in the journal Cell Host & Microbe in May 2023.
Dr Lee started working on the study with other researchers during his fellowship at the Broad Institute of Massachusetts Institute of Technology and Harvard. He is now a visiting scientist there.
He was speaking to The Straits Times ahead of a free talk on the study findings and common gut problems at the Fighting Cancer, Living Stronger event on Jan 27. Organised by the National University Cancer Institute, Singapore, the public forum will be held at the Kampung Admiralty Community Plaza.
Colorectal cancer, which starts in the colon or the rectum, is the second-leading cause of cancer-related deaths in Singapore, after lung cancer in men and breast cancer in women.
It can arise from two main types of pre-cancerous polyps – adenomatous or serrated polyps. Current screening methods, particularly colonoscopy, are highly effective for picking adenomatous polyps, which are the most common, while serrated polyps tend to be missed more often during colonoscopy.
Colonoscopy is the current gold standard for screening colorectal cancer. During the process, a polyp can be detected and removed before it becomes cancerous.
For the study, the researchers studied the data from 971 healthy patients undergoing routine colonoscopy at the Massachusetts General Hospital in the United States. Researchers looked at the information on patients’ health, diet, medication history, lifestyles, and analysed their stool specimens to determine their bacterial make-up.
The researchers then identified 19 bacterial species associated with adenomatous polyps and eight in serrated polyps.
They also found that diet and medication significantly shaped the gut microbiome associated with common precancerous colorectal polyps.
Dr Lee said the team found that the presence of specific bacterial species in the gut brought out the beneficial effect of a high fruit and vegetable diet and aspirin use in the prevention of colorectal cancer.
“For the effects of a veg-rich diet and aspirin use to be effective, you need the bugs to break those down to helpful metabolites to prevent cancers,” he added.
The study said that further research on the microbial mechanisms behind diet and medication associations with colorectal cancer could help inform targeted dietary interventions, shape guidelines surrounding aspirin use, and even promote the development of novel cancer prevention strategies.
Right now, Singapore researchers at the National University of Singapore, NUH, Tan Tock Seng Hospital and the Agency for Science, Technology and Research are studying local data, paving the way for a locally validated microbial test kit for colorectal cancer, Dr Lee added.
The kit will be developed by precision gut microbiome company AMILI, where Dr Lee is the co-founder.
Regular screening is advised because colorectal cancer is most likely to be curable, if it is detected early.
|
https://www.straitstimes.com/singapore/health/study-links-gut-bacteria-to-pre-cancerous-growths-paves-way-for-microbial-testing-for-colorectal-cancer-risk
| 2024-01-26T15:31:42Z
|
blocked_url
|
SINGAPORE – Reclamation works are planned to begin to the east of Pulau Sudong from 2024 to upgrade its existing runway for military aircraft – a development that could result in the loss of 2ha of coral reefs, as well as seagrass habitats and swathes of mangrove forests.
To mitigate the environmental impact of the project, the authorities will relocate rare and vulnerable species, and carry out habitat restoration works once the proposed reclamation is completed by 2028, said the Housing Board on Jan 26.
About 31.1 ha of land – or 43 football fields – will be reclaimed on the eastern part of the island, which has been gazetted for military use since the 1970s. This is so that the emergency runway can be upgraded, which will improve flight safety, especially during bad weather, HDB said in response to queries from The Straits Times.
A new sea-wall revetment, or retaining wall, will also be constructed around the periphery of the reclaimed area.
An environmental impact assessment (EIA) report completed by environmental consultant DHI for the authorities quantified the potential habitat losses from the proposed reclamation, and recommended a number of measures to mitigate its impact.
The reclamation works will result in habitat loss – including 2ha of coral reefs, or about 1.8 per cent of Singapore’s overall coral reef cover; about 17.28ha of intertidal habitat; and 71.91ha of soft seabed habitat, where marine worms, crabs and marine snails typically reside, the report noted.
The intertidal zone – which includes rocky shores, seagrass meadows, sandy beaches and mangroves – is home to a wide diversity of marine species, some of which are vulnerable or rare in Singapore.
Also to be lost in the process are some 229 mangrove trees, or 1.46ha of mangrove forest, which are home to mangrove species like the Rhizophora stylosa and the Ceriops tagal, the report said.
The seed dispersal abilities of the surviving mangroves could also be affected, underlining the need for the remaining species to be well-protected, the report noted.
Through surveys that were conducted from 2016 to 2017, and from December 2022 to January 2023, 83 different species of marine fauna were recorded across the affected intertidal areas, a number of which have been listed as vulnerable, according to the report.
These include the blue-spotted fantail ray, the white spotted bamboo shark, and the tomato anemonefish. Rare hard coral species were also recorded, like the open brain coral (Trachyphyllia geoffroyi), the mole mushroom coral (Polphyllia talpina) and the ten ray star coral (Madracis kirbyi).
While the loss of seagrass habitats and small marine creatures could have an indirect impact on animals like dolphins and dugongs, there were no sightings of these marine animals when the surveys were conducted.
HDB said a range of mitigation measures will be implemented to minimise the impact on the ecology and biodiversity in the area.
To mitigate the environmental impact of the reclamation works, rare and uncommon coral species are to recommended to be transplanted to surrounding islands such as Pulau Hantu, Pulau Semakau and Sisters’ Islands, said the report.
Threatened fauna residing in the intertidal zone can be relocated to the northern lagoon of Pulau Sudong, which is unaffected by the reclamation works, or to surrounding islands.
To save the mangroves, the report recommended that the remaining mangrove propagules, or seeds, be collected and transplanted to suitable nature areas like the Sungei Buloh Wetland Reserve or Pulau Ubin.
A more detailed biodiversity management plan will be drawn up in consultation with the National Parks Board before reclamation works begin.
Once the construction works are completed, key coral fragments can then be transplanted onto the sea walls, while mangrove saplings and seagrass can be transplanted to the eastern lagoon of the island as part of habitat restoration efforts.
To better support biodiversity and hasten nature’s recolonisation, bio-tiles can be installed for the sea walls, which better help to support marine life. Bio-tiles are usually made with environmentally friendly materials, and typically have small holes or crevices to encourage biodiversity to accrete.
Environmental monitoring has been recommended to track the health and survival of the corals in their new habitats.
Associate Professor Huang Danwei from the National University of Singapore’s Tropical Marine Science Institute, noted that studies on the marine ecosystems in Pulau Sudong have been very limited since it has been out-of-bounds for years to researchers and the general public.
However, some of the vulnerable species found on the island are similar to the ones found around Raffles Lighthouse – an area also left untouched by development, and which continues to host some of the healthiest coral reefs in Singapore, he added.
Research collections of coral specimens on Pulau Sudong since the 1960s suggest that the reefs host high biodiversity, and have a relatively high representation of staghorn corals, which are much less common in most other offshore islands in Singapore.
These stony coral species have been wiped out over the years amid reclamation and development, and should therefore be prioritised for transplantation and rehabilitation, otherwise, they could potentially become locally extinct, Prof Huang added.
In the 1970s, about 242.82ha of land was reclaimed around Pulau Sudong, drastically expanding the size of the island.
Its inhabitants were made to move to the mainland as the island was earmarked for redevelopment, with Pulau Semakau and Pulau Seking enduring a similar fate.
Since then, Pulau Sudong became a military live-firing zone, while Pulau Semakau and Pulau Seking were connected to form Semakau Landfill.
|
https://www.straitstimes.com/singapore/more-land-to-be-reclaimed-off-pulau-sudong-works-will-result-in-loss-of-marine-habitats-report
| 2024-01-26T15:31:53Z
|
blocked_url
|
SINGAPORE – Surgery to correct vision problems has widened the recruiting pool for the Republic of Singapore Air Force (RSAF), with more than 400 military pilots sponsored to receive such treatments over the past two decades.
Procedures such as Lasik will be even more necessary to maintain a viable talent pool for the air force in the years to come, with as many as nine in 10 Singaporean adults expected to be myopic by 2050, RSAF medical officer Major (Dr) Isaac Chay told members of the media on Jan 26.
The briefing at the RSAF Aeromedical Centre at the Paya Lebar Air Base was aimed at dispelling the myth that perfect eyesight is required to be a military pilot, while shedding light on the ways the service maintains its aircrew’s vision.
Since 2005, the RSAF has offered corneal refractive surgery (CRS) to correct myopia free of charge to suitable candidates, allowing them to pursue a military flying career.
The air force realised then that there was a need for such a service as more and more prospective pilots would be myopic, said Major (Dr) Chay.
An RSAF study found that one-fifth of pilot applicants across an eight-year period until 1991 had been unable to meet eyesight standards. Even after the standards were relaxed, more than one in 10 hopefuls in the subsequent eight years were still medically disqualified because of myopia, according to a 2017 article in Mindef’s defence journal Pointer.
“We wanted to offer our military pilots, our military aircrew, the chance to embark on a career without the need to wear spectacles, and in doing so enhance their ability to perform their flying duties both safely and effectively,” said the trainee eye specialist at the RSAF Aeromedical Centre.
To be a military pilot, myopia in candidates must not be more than 800 degrees per eye, and astigmatism must be less 300 degrees per eye.
The RSAF first offered only photorefractive keratectomy (PRK) to candidates, and in 2013 began offering the newer laser-assisted in situ keratomileusis (Lasik) technology as an additional option for those requiring refractive surgery.
While both use lasers to alter the shape of the cornea to correct errors of refraction that result in myopia, Lasik has a shorter recovery period as it does not involve the removal of the top layer of the cornea, unlike PRK.
Such procedures can cost more than $4,000 here.
A 2014 study by researchers from the RSAF Aeromedical Centre of 76 RSAF personnel who had undergone the PRK procedure found that 98.5 per cent had perfect vision a year after surgery.
However, it is not compulsory for military pilots to undergo corrective surgery.
They may wear spectacles while they fly, but their glasses must be aviation grade – meaning they must be scratch proof and have anti-glare coating – as well as be compatible with the headgear worn during flights.
Lieutenant-Colonel (LTC) Jason Lau, who underwent PRK in 2012, said that wearing glasses under a flight helmet could cause discomfort, noting there was also the risk of glasses fogging up during flights.
The F-16 fighter pilot stressed the importance of good eyesight during missions.
“When you are in visual range in a dog fight, you need to be able to see your adversary before he sees you,” said the 35-year-old.
Helicopter pilot Captain Anirudh Reddy said having good eyesight was especially crucial during search and rescue operations.
“A lot of the time, we’re flying low, we’re looking out in the sea for people,” said the 35-year-old, who went through PRK in 2010 after having myopia of more than 400 degrees in both eyes previously.
RSAF pilots are required to go through a stringent series of tests on their eyesight annually.
These tests assess whether they have myopia or other vision issues such as depth perception, colour blindness or double vision.
The success of his procedure helped convince his wife to get Lasik as well, added Cpt Anirudh.
“So half my family now has already (had surgery) and they’re all like, thank you for this,” he said.
Just as Lasik can be seen as a refinement of PRK, recent years have seen a new procedure called Small Incision Lenticule Extraction (Smile) become mainstream.
The Smile procedure, which has a quicker healing time than either Lasik or PRK, was first offered to US military personnel in 2017 and approved for their pilots in 2021.
On whether the RSAF is considering adopting other procedures than Lasik and PRK, Major (Dr) Chay said: “We are constantly keeping abreast with medical literature on what CRS modalities are available and will review the modalities once the technology is mature and the safety and efficacy data is established.”
|
https://www.straitstimes.com/singapore/more-than-400-rsaf-pilots-received-refractive-surgery-since-2005
| 2024-01-26T15:32:04Z
|
blocked_url
|
SINGAPORE – When local climate change projections for 2050 and the end of the century were released in early January, forecasts of more frequent days with temperatures exceeding 35 deg C dominated the headlines.
But climate and health researchers were equally, if not more, concerned about how warmer and humid nights will be a daily reality by 2100.
By 2050, at least 317 nights are expected to be warm, with temperatures at 26.3 deg C and above, the third national climate change study has revealed.
“A poorly rested person over time can never be healthy and productive. We need to have scalable and sustainable solutions to ensure proper rest. Without proper recovery, more problems ensue,” said Associate Professor Jason Lee, director of the Heat Resilience and Performance Centre at the National University of Singapore’s (NUS) Yong Loo Lin School of Medicine.
“I want to focus on the more warmer nights prospectively. This aspect is often neglected (in heat health research).”
Over the next several months, Prof Lee and his team at NUS, alongside partners from the Berkeley Education Alliance for Research in Singapore (Bears), will be tracking the sleep quality of construction workers in non-air-conditioned dorms and residents in air-conditioned bedrooms. The latter will be conducted in a laboratory setting.
The aim is to develop novel cooling solutions in dorms and bedrooms at homes to ensure that the rising temperature does not take a toll on people’s rest.
Called Heats – Heat Exposure, Activity, and Sleep – the project is set to run for three years, and is funded by the National Research Foundation.
More than 100 construction workers and Singapore residents will have wearables tagged to them so that researchers can measure the effects of heat exposure on sleep. The devices will measure heart rate, a person’s sleep stages and wakefulness, among other things.
Currently, Singapore has about 76 warm nights each year, with the temperature hitting 28 deg C or above in some parts of the island.
To fight night-time heat and humidity, the researchers will develop smart systems that can adjust fan wind speed and air-con temperatures.
Professor Stefano Schiavon, a civil and environmental engineering expert from the University of California, Berkeley, and Bears, said: “Instead of having the AC on the entire night at a fixed temperature, the smart system can autonomously change the set point during the night to meet people’s needs.”
Prof Schiavon is co-leading the project with Prof Lee.
Prof Lee also noted that air-conditioning cannot be a solution to heavily rely on, since it releases waste heat and uses refrigerants that fuel global warming.
|
https://www.straitstimes.com/singapore/scientists-concerned-by-warmer-nights-want-to-help-workers-in-dorms-s-pore-residents-sleep-better
| 2024-01-26T15:32:14Z
|
blocked_url
|
Chelsea have signed Colombian forward Mayra Ramirez from Levante, in what is a world record fee in women's football, both clubs announced on Friday, with the deal worth 450,000 euros ($488,610).
The 24-year-old, who joined Levante in 2022, has signed a four-and-a-half-year contract with the Women's Super League club.
"The deal amounts to 450,000 euros fixed, plus 50,000 euros in variable amounts based on goals that the club expects to be met, one of which requires Ramirez to play 30 percent of the matches," the Spanish club said.
The previous record was the 400,000 thousand euros paid by Barcelona to sign England midfielder Kiera Walsh from Manchester City in 2022.
Ramirez has made 30 appearances for Colombia, and was a member of the national team which reached the quarter-finals of the 2023 Women's World Cup.
Chelsea, winners of the WSL for the last three seasons, are currently leading the standings, and their next game is away to Brighton & Hove Albion on Saturday. REUTERS
|
https://www.straitstimes.com/sport/football/chelsea-sign-ramirez-from-levante-in-world-record-fee
| 2024-01-26T15:32:24Z
|
blocked_url
|
LONDON - The transfer window is coming to a close, and Newcastle United have no plans to sell their top players despite reports to the contrary, manager Eddie Howe said on Jan 26.
Full back Kieran Trippier has been strongly linked with Bayern Munich.
"A few things to say on Kieran's situation. We hope he will stay and we're very confident he will be part of our long-term future," Howe told a press conference ahead of his side's FA Cup fourth-round game at Fulham.
"But I have to make it clear he has never asked to leave or even questioned his future here. We've had conversations in the last week and it's always been about Newcastle.
"His situation is finished. I've been in football long enough to never say 100 per cent. I don't want to look stupid but he's 100 per cent committed."
Howe recently spoke of Newcastle being held back in the transfer market by Financial Fair Play rules, and there has also been speculation around the futures of Miguel Almiron and Callum Wilson.
The manager said he is desperate to keep Almiron and that Wilson was 100 per cent committed to the club, but the same could not be said for Joelinton.
The Brazilian midfielder suffered a serious thigh injury in the last round of the FA Cup against Sunderland which will keep him out of action until May, and the player and club have yet to agree a contract extension.
"Massive blow for us," Howe said.
"We knew when he did the injury it immediately didn't look good. We didn't know he'd be out as long.
"It's a possibility (that he's played his last game for the club) but I hope that's not the case… I want him to stay. Before a player signs a contract he has to be happy with everything... and so it's a possibility he'll be sold in the summer."
Newcastle face Fulham on Jan 27, a chance to put their poor league form behind them, where they have lost the last four games.
"It is a big moment in our season as the Sunderland game was, this is an important competition for us now, a new dynamic because of what's gone before," Howe said.
"We are desperate to get our best form back and progress." REUTERS
|
https://www.straitstimes.com/sport/football/howe-dismisses-transfer-speculation-over-newcastle-players
| 2024-01-26T15:32:35Z
|
blocked_url
|
ABIDJAN - Cameroon coach Rigobert Song denied any new rift with goalkeeper Andre Onana who was dropped for their last match at the Africa Cup of Nations finals and could be on the bench again on Saturday for the last-16 tie against Nigeria.
Onana had walked out on Cameroon during the World Cup finals in Qatar 14 months ago after a row with Song but returned to the team in September to help them qualify for the tournament in the Ivory Coast.
He was allowed to miss Cameroon’s first match to play for Manchester United against Tottenham Hotspur on Jan. 14 but played in the Indomitable Lions’ second Group C game against Senegal, conceding three goals and being dropped for their last group match against Gambia on Tuesday.
"I have no problem with my goalkeepers. They are all competitive and ready to respond when they need to play. There is no controversy. They get along very well," Song told a press conference on Friday, without saying whether Onana might be restored to the goal for the last-16 game on Saturday.
Song said defence would be all-important against Nigeria, whose powerful attack is led by African Footballer of the Year Victor Osimhen.
"We have already conceded six goals and tomorrow we will find the formula to not concede," added Song.
"We will try to put Nigeria in difficulty and fight to continue in the competition. I know what needs to be done so that we do everything possible tomorrow to obtain a positive result." REUTERS
|
https://www.straitstimes.com/sport/football/no-new-rift-with-onana-says-cameroon-coach
| 2024-01-26T15:32:45Z
|
blocked_url
|
LONDON - Liverpool manager Juergen Klopp announced that he will step down from his position at the end of the 2023-24 season, having joined the club on Oct 8, 2015.
Early career:
* Born on June 16, 1967, in Stuttgart, Germany.
* Klopp played as a striker and defender for Mainz 05, who were then in the second division of the German league.
* He played for Mainz from 1990 to 2001 and retired as one of their record goal scorers, at fifth place with 56 goals.
Early managerial career at Mainz:
* Appointed as head manager at Mainz in February, 2001.
* Guided Mainz to a third-place finish in the 2003–04 season, securing promotion to the German top-flight, Bundesliga, for the first time in the club's history.
* Despite relegation in the 2006–07 season, Klopp chose to remain with the club.
* Resigned in 2008 after being unable to achieve promotion.
Borussia Dortmund:
* Became head manager at Dortmund in May, 2008.
* Won the Bundesliga title in the 2010–11 and 2011–12 seasons.
* The 2011-12 title was particularly significant as Dortmund finished the season with 81 points, a remarkable eight points ahead of second-placed Bayern Munich.
* Klopp also achieved Dortmund's first-ever domestic double in 2011–12, winning the Bundesliga and the German Cup, DFB-Pokal.
* Led the club to the UEFA Champions League final in 2013, narrowly losing 2-1 to Bayern.
* Won the DFL-Supercup in 2008, 2013, and 2014.
* Left Dortmund in 2015 as their longest-serving manager.
* At Dortmund Klopp was known for his ability to develop young and talented players. During his tenure, Dortmund nurtured talents such as Robert Lewandowski, Marco Reus, Mario Götze, and Mats Hummels, among others.
Career milestones with Liverpool so far
Major trophies:
* Won Champions League 2018-19 beating Tottenham Hotspur 2-0 in the final, having finished as runners-up to Real Madrid the previous year.
* Won Premier League 2019-20, ending the club's 30-year wait for a top-flight English league title. Liverpool finished the season with 99 points, 18 clear of second-placed Manchester City.
* Won the Club World Cup in 2019, beating Brazilian side Flamengo 1-0 in the final.
* Won the Super Cup in 2019, beating Chelsea 5-4 on penalties.
* Won the League Cup in 2021-22.
* Won the FA Cup 2021-22, securing a cup double.
Highlights as manager:
* The only Liverpool manager to win six different major trophies.
* Klopp holds the longest unbeaten run record for the club with 44 league matches – from January 2019 to February 2020.
* Won Premier League Manager of the Season in 2019-20 and 2021-22 seasons.
* Guided Liverpool to runners-up finishes in the Champions League in 2017-18 and 2021-22.
* Having won the Cup double in 2022, Liverpool went close to a quadruple but were beaten to the league title by Manchester City by one point and lost the Champions League final to Real Madrid 1-0.
* Klopp holds the record for most wins in fewest matches than any other Liverpool manager as well as the highest win rate in all competitions than any other Liverpool coach at 60.7 per cent in 50+ games.
* Became the only Liverpool manager to reach 900 goals in the least number of games, achieving this record in 440 matches—55 games less than former boss Bill Shankly.
* Introduced and popularised tactical concepts and playing style like Gegenpressing, emphasising pressing and high attacking output. REUTERS
|
https://www.straitstimes.com/sport/football/soccer-a-look-back-at-juergen-klopps-career-before-liverpool-departure
| 2024-01-26T15:32:56Z
|
blocked_url
|
HYDERABAD, India - England picked three specialist spinners for the series opener against India but it was their handling of part-timer Joe Root that intrigued many after the second day's play on Friday.
Opening the bowling with Root to neutralise India opener Yashasvi Jaiswal had been England captain Ben Stokes's stated plan considering how off-spinners trouble left-handed batters by turning the ball away from them.
Root, however, was content playing the designated ball-shiner's role in Thursday's final session while Jaiswal (80) went after England's inexperienced spin attack in general and debutant Tom Hartley in particular.
Former India spinner Anil Kumble felt England missed a trick by not using Root's off-spin earlier and former England captain Kevin Pietersen also questioned the decision.
England made amends when play resumed on day two and the ploy to begin with Root immediately paid off as he dismissed Jaiswal with his fourth delivery.
At 123-2, India were halfway through their immediate task of matching England's first-innings 246 after Jaiswal's fireworks, which helped the hosts finish the day with a chunky lead of 175 with three wickets in hand.
Root could have finished with three wickets in his first four overs but wicketkeeper Ben Foakes spilled a tough catch from KL Rahul when the batter was yet to open his account, and Stokes lost sight of a miscued shot from Shubman Gill at mid-off.
Finally an England bowler had managed to put pressure on the local batters but Root was surprisingly taken out of the attack despite a tidy opening spell.
He was recalled to bowl another couple of overs before the lunch break but both Rahul, who went on to smash 86, and Shreyas Iyer were well set by then.
For many, Root's abrupt withdrawal from the bowling attack was as baffling as his delayed introduction into it.
The former England captain went on to dismiss Srikar Bharat and finished with figures of 2-77.
"The beauty of having Joe Root is that he knows...how to create opportunities," England bowling coach Jeetan Patel said.
"That is one thing Joe has -- an ability to think 'how will I take a wicket? How will I change a game?'"
"I think today we saw the typical Joe Root, he creates opportunities.
"Yes, he's going to be hit for boundaries but that's how Joe Root bowls. He bowls attacking deliveries, he asks attacking questions. He was fantastic I thought." REUTERS
|
https://www.straitstimes.com/sport/roots-part-time-role-leaves-england-in-a-spin
| 2024-01-26T15:33:06Z
|
blocked_url
|
MELBOURNE - Alexander Zverev said his energy began to fade midway through his five-sets Australian Open semi-final loss to Daniil Medvedev on Friday and blamed an illness following his win over Carlos Alcaraz in the last round.
Zverev was two points from a win after going up 5-4 in the fourth set tiebreak before crashing to a 5-7 3-6 7-6(4) 7-6(5) 6-3 defeat but the German said his issues began earlier.
"End of the second set I started to lose energy. I started to not feel so fresh anymore," Zverev told reporters. "I got a bit sick after the Alcaraz match with a bit of fever so that didn't help the recovery and I did play quite a lot.
"Against him (Medvedev), it's impossible to play when you're not 100% physically, because he's literally someone that really doesn't give you anything.
"He makes you work for every single point and once you can't really do that anymore, it becomes difficult. I was close in the third and fourth sets, but I wasn't the same player as I was the first two sets anymore. I was just hanging on."
There were many frustrating moments for Zverev during the match, including one where he smashed the net with his racket at 2-2 in the decider after missing a volley.
He was also asked about his defeat from two sets up in the 2020 U.S. Open final by Dominic Thiem, but said Friday's loss was different.
"It's more frustrating that I didn't feel 100% physically. It took the chance away," Zverev said. "I lost it because of a physical state, not because of tennis."
Zverev said an upcoming court case in Germany on physical abuse charges had not affected his concentration.
The 26-year-old, who rejects the allegations, is due to appear before a Berlin court on May 31 on charges of abusing his former girlfriend.
"I have said it before: Anyone who has a semi-decent IQ level understands what's going on," Zverev said. "I hope that most of you guys do. I'm fine with it." REUTERS
|
https://www.straitstimes.com/sport/tennis/zverev-blames-illness-for-dip-in-energy-during-australian-open-loss
| 2024-01-26T15:33:17Z
|
blocked_url
|
ISTANBUL - Canada and Turkey have reached a deal to restart Canadian exports of drone parts in exchange for more transparency on where they are used, and it would take effect after Ankara completes its ratification of Sweden's NATO bid, two sources told Reuters.
After 20 months of delay, Turkey moved swiftly this week to endorse Sweden's membership in the western military alliance, including a parliamentary vote and presidential sign-off, leaving Hungary as the sole ally yet to ratify it.
Turkey is expected to send the final documents to Washington as soon as Friday, which would clear the way for Canada to immediately lift the export controls that it adopted in 2020, the two sources said, requesting anonymity.
The agreement was reached in early January after months of talks, said one person familiar with the process. A second person familiar with the plan said the sides agreed it would take effect after Sweden's ratification was complete.
Turkey's foreign ministry declined to comment.
Canadian Foreign Ministry spokesperson Charlotte MacLeod told Reuters that while the export controls currently remained in place, Ottawa aimed to resolve the issue with Turkey given its status as a NATO ally.
"Canada and Turkey continue to engage in frank exchanges on our bilateral, economic and commercial relations," she said.
Sweden's lengthy bid process frustrated some NATO members over what they viewed as Turkey's transactional approach, which led to concessions from Stockholm and other allies regarding arms exports and counterterrorism measures.
U.S. leaders have said Turkey's ratification of Sweden's NATO membership clears the way for Ankara's long-sought purchase of U.S. F-16 fighter jets.
Canada suspended drone technology sales to Turkey in 2020 after concluding its optical equipment attached to Turkish-made drones had been used by Azerbaijan while fighting ethnic Armenian forces in Nagorno Karabakh, an enclave Baku has since retaken.
Ottawa halted talks on lifting them in 2022 when Ankara raised objections to both Finland and Sweden's NATO bids. But it re-started talks after a NATO leaders summit in July last year, Reuters reported at the time. REUTERS
|
https://www.straitstimes.com/world/europe/canada-to-re-start-turkey-arms-exports-after-sweden-nato-backing-sources
| 2024-01-26T15:33:27Z
|
blocked_url
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.