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NEW YORK - US stocks advanced on Jan 29 as market participants looked ahead to this week’s slew of megacap earnings, economic data and the Federal Reserve’s monetary policy meeting.
All three major US stock indexes advanced, with the tech-laden Nasdaq enjoying the largest percentage gain.
The S&P 500 notched yet another record closing high.
With the bellwether index up over 3 per cent so far in the first month of 2024, BlackRock raised its overall US stocks view to “overweight” from “neutral.”
“Today is the calm before the storm,” said Ryan Detrick, chief market strategist at Carson Group in Omaha. “This is a truly headline-driven week, with earnings, the Fed, the jobs report and ongoing geopolitical uncertainties.”
“So with stocks at all time high, if we see any disappointments that could upset the apple cart and cause some well-deserved volatility,” Detrick added.
A spate of earnings from high profile tech and tech-adjacent momentum stocks waits in the wings, starting on Tuesday with Alphabet Inc and Microsoft Corp, Qualcomm Inc and Wednesday and culminating on Thursday with Apple Inc, Amazon.com and Meta Platforms Inc .
Other closely watched results include General Motors Inc on Jan 30, Boeing Co on Feb 1, with oil supermajors Exxon Mobil Corp and Chevron Corp wrapping up the week on Friday.
The Federal Open Markets Committee is scheduled to convene on Jan 30 for its two-day monetary policy meeting, at which its voting members are widely expected to leave the key Fed funds target rate unchanged at 5.25 per cent to 5.50 per cent.
“Powell is probably going to be somewhat cautious. The Fed doesn’t want to be burned by inflation, and will push back on the (expected) March cut as a near certainty,” Detrick said.
Fed Chair Jerome Powell and other policymakers have warned not to expect interest rate cuts before inflation cools down to its average 2 per cent annual target, but have also vowed to remain agile as they respond to economic data.
This week’s roster of economic reports includes the labor market, with the Job Openings and Labor Turnover Survey, ADP, fourth-quarter employment costs, productivity, and planned layoffs, and the January employment report on Friday.
Case-Shiller home prices, consumer confidence, the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), construction spending and factory orders are also on deck.
Robust economic data of late - particularly last week’s strong gross domestic product and personal consumption expenditures data - have simultaneously calmed fears of imminent recession and tossed cold water on hopes that the Fed would begin cutting interest rates as soon as March.
According to preliminary data, the S&P 500 gained 37.25 points, or 0.76 per cent, to end at 4,928.22 points, while the Nasdaq Composite gained 173.66 points, or 1.12 per cent, to 15,629.02. The Dow Jones Industrial Average rose 226.45 points, or 0.59 per cent, to 38,335.88.
Tesla Inc gained after the electric car maker revealed capex plans.
Robot dropped as the robot vacuum maker and Amazon scrapped merger plans in the face of opposition from EU antitrust regulators.
Meta Platforms advanced after brokerage Jefferies raised its target price on the stock to US$455 (S$610.28) from US$425.
Warner Bros Discovery slipped as brokerage Wells Fargo downgraded the streaming platform to “equal weight” from “overweight.”
Financial technology firm SoFi Technologies surged after posting a fourth-quarter profit. REUTERS
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https://www.straitstimes.com/business/companies-markets/wall-st-edges-higher-ahead-of-fed-meeting-big-earnings-week
| 2024-01-29T21:54:28Z
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SINGAPORE - There is an oft-used phrase in the financial sector – past performance is no guarantee of future returns. This principle applies to corporate entities too.
Companies survive and thrive by reinventing themselves. Not doing so risks being overtaken by newer and more nimble players in a fast-evolving business environment. The result can be plateauing profit, and ultimately irrelevance.
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https://www.straitstimes.com/business/keppel-reinventing-and-reinvigorating-its-storied-name
| 2024-01-29T21:54:39Z
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SINGAPORE – The pressure of rising prices eased somewhat for all households after hitting a high in 2022, with low-income households seeing the smallest increase in inflation across the income groups.
If rents of owner-occupied accommodation are excluded, the consumer price index (CPI) for households in the lowest 20 per cent income group increased by 4 per cent in 2023, down from 5 per cent in 2022.
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https://www.straitstimes.com/business/singapore-households-continue-to-spend-as-inflation-eases-in-2023-credit-card-debt-not-a-concern
| 2024-01-29T21:54:49Z
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https://www.straitstimes.com/opinion/a-cartoonist-s-view-cel-gulapa-jan-30-2024
| 2024-01-29T21:55:20Z
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A spectre is haunting Europe: The possibility that Donald Trump will be re-elected as United States president this November.
Of course, the Europeans are not the only ones to fret; the prospect of Trump’s political resurrection deeply worries all of America’s allies.
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https://www.straitstimes.com/opinion/europe-s-rising-fears-as-trump-marches-towards-the-white-house
| 2024-01-29T21:55:31Z
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I read with interest Deputy Opinion Editor Mubin Saadat’s full-page commentary “Outram Sec: Being relocated is better than being forgotten” (Jan 28).
One of the oldest in Singapore, the school (founded in 1906 during the colonial days and named after Sir James Outram) moved to its existing grounds in York Hill to make way for what was then Outram Park, which later became the Outram Park MRT station.
Out of nothing but pure passion for their alma mater, the Old Outramians’ Association painstakingly ran a funfair and a charity dinner, and sought donations from its members to raise funds to build a swimming pool, which was opened in 1977 in the York Hill school grounds.
My plea is for the Ministry of Education to acknowledge the spirit and warm-heartedness of these old Outramians, and seriously consider providing a similar facility for future young Outramians when the school moves to Sengkang.
Tan Ah Ung
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https://www.straitstimes.com/opinion/forum/forum-consider-having-a-pool-when-outram-sec-moves-to-new-premises
| 2024-01-29T21:55:41Z
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Teenage sexuality can begin with innocuous hugs or kisses, which may have become entrenched and normalised in a child’s mind.
“Give Grandma and Grandpa a goodbye hug” is a statement uttered regularly in homes.
But there is a good reason why you might not want to tell your child to hug or kiss anyone, including relatives.
The child may think you are implying that there will be negative consequences if he does not do what you say.
It is like saying, “I don’t care if you’re comfortable with it or not, show affection anyway.”
That is a dangerous message, and children who think they need to comply with adult requests for affection are more likely to be sexually exploited.
When a child feels forced to show affection, he may get the message that he is not in control of his own body.
If he is told by a predator to do something he is not comfortable doing, he may feel obligated to comply.
But a child who has been taught that “It’s your body, and you get to say ‘no’ to things you don’t want to do” is more likely to be able to say “no” if someone asks him to do something he is not comfortable doing.
It is an important message to carry throughout life.
Parents can also deliver a subtle message to their friends and relatives by letting them know that they should not force their children to be physically affectionate if they do not want to be.
Lee Tai Huat
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https://www.straitstimes.com/opinion/forum/forum-don-t-force-a-child-to-be-physically-affectionate-even-with-relatives
| 2024-01-29T21:55:51Z
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Having read the apology by the Minister for Transport (Phasing out older payment cards in SimplyGo switch a ‘judgment error’, says Transport Minister, Jan 26), I am inclined to believe that it is vital to obtain feedback from commuters who are more vulnerable and sensitive to changes in the transport card system, especially those in the lower socio-economic stratum and older users.
It would be appropriate for public institutions to consult and collaborate with statistical and research bodies in getting such feedback, such as the Statistics Department and the Housing Board’s research and planning department, which have been carrying out surveys to get feedback from residents over the years.
Quantitative surveys with larger sample sizes rather than qualitative small-scale studies will help.
Also important are the questions posed, highlighting the pros and cons of the new card system versus the older ones.
Gan Kok Tiong
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https://www.straitstimes.com/opinion/forum/forum-important-to-consult-more-commuters-especially-those-who-will-be-affected-by-changes
| 2024-01-29T21:56:01Z
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The Government’s across-the-board push to use technology may be resulting in government agencies’ systems unwittingly becoming rather user-unfriendly for those who are less tech-savvy.
This is especially felt by elderly citizens who are less educated or who might not have the ability or the hardware to successfully navigate QR codes, create PDFs, upload documents or use e-services without help.
One example of how user-unfriendly a government system can be is the submission of a medical report to the Traffic Police (TP) for the revalidation of the driving licence by those aged 65 and above.
According to the standard computer-generated letter from the TP on this matter, each report has to be in a PDF/JPEG format and uploaded via the e-service portal using the Singpass app.
Despite the instructions in their letter, the TP, when queried on the phone, are willing to accept the physical report sent through the mail. I wonder why this option was not included in the letter. The affected number of licensed drivers in this age group is relatively small and such an option would be most welcome by those who are technically less savvy and unable to get help.
The use of technology and online processes in government systems to the fullest extent possible is necessary and critical in this digital age. However, such systems cannot and should not be justified solely on grounds of administrative expediency and efficiency at the expense of being less user-friendly and service-oriented.
Ang Ah Lay
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https://www.straitstimes.com/opinion/forum/forum-push-to-use-technology-should-not-make-things-more-difficult-for-users
| 2024-01-29T21:56:12Z
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I am disappointed that the Land Transport Authority is thinking of spending $40 million to extend the usage of the existing fare cards, mainly so that commuters can see fare deductions and card balances when tapping out at fare gates (Phasing out older payment cards in SimplyGo switch a ‘judgment error’, says Transport Minister, Jan 26).
If the public had known that so much money would be involved in keeping the old system, we would definitely be able to accept the minor inconvenience of not being able to see fare deductions and card balances when we tap out.
Therefore it was the right decision to retire the older cards but commuters just needed to know the reason for the change and the costs involved for keeping them.
Lin Hay Tsu
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https://www.straitstimes.com/opinion/forum/forum-yes-to-new-fare-cards-if-commuters-had-known-about-40m
| 2024-01-29T21:56:23Z
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Russian army suffered the loss of more than 7,000 tanks and armored combat vehicles since the beginning of the full-scale invasion of Ukraine in February 2022, British Intelligence reported in its daily update on the Russo-Ukrainian war on 29 January.
From 24 February 2022 to 25 January 2024, Russian Ground Forces likely lost approximately 2,600 main battle tanks and 4,900 other armored combat vehicles in Ukraine, British Intel reported.
At the same time, Russian losses of tanks and armored vehicles decreased last year compared to the first year of the full-scale invasion of Ukraine. Russian Ground Forces lost around 40% fewer vehicles in 2023 than in 2022, according to British Intel.
“It is highly likely that the reduction in armored vehicle attrition rates was due to the increasingly positional nature of the conflict in 2023 and because Russia spent a significant proportion of the year in a defensive posture,” British Intel’s update stated.
Since October 2023, when Russian Ground Forces have been on the offensive in eastern Ukraine, Russian armored vehicle losses skyrocketed, according to British Intel. Over the past four months, Russian Ground Forces have likely lost up to 365 main battle tanks and 700 armored combat vehicles but achieved minor territorial gains, British Intel reported.
However, according to British Intel, Russia can probably generate (manufacture and repair) around 100 main battle tanks each month and retains the capacity to replenish battlefield losses partially. Russia can continue the current offensive activity “for the foreseeable future,” the British Intel concluded.
The Russian army is running out of tanks rapidly due to heavy losses in Ukraine. According to the Military Balance, Russia had about 3,000 T-80 main battle tanks in storage as of 2021, a year before the full-scale invasion of Ukraine began.
Significantly increased Russian tank losses on the battlefield during the Avdiivka offensive in the Donetsk Oblast (eastern Ukraine) are confirmed by several independent OSINT analysts who document Ukrainian and Russian military equipment losses based on photo and videographic evidence. Russian losses far exceed the rate of tank production and repair.
Related:
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https://euromaidanpress.com/2024/01/29/british-intel-reveals-massive-russian-tank-losses-in-ukraine/
| 2024-01-29T21:56:32Z
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There’s a keening sound coming from America’s co-working spaces, third-wave coffee shops and mommy-and-me yoga classes.
Perhaps you’ve heard it, as if 72.2 million complaints rang out in unison: grumblings of sore joints from high-intensity interval training, grievances about the resurgence of Y2K style, the onset of hair loss.
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https://www.straitstimes.com/opinion/hark-the-millennial-death-wail
| 2024-01-29T21:56:33Z
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Robert Crimo III dropped out of high school a year before his junior year and made an attempt at a musical career as a rapper.
An enthusiastically political individual, he was active on message boards and maintained a private server on the gaming communications platform Discord, where he exchanged nihilistic political memes with like-minded friends.
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https://www.straitstimes.com/opinion/how-discord-steam-and-other-gaming-platforms-became-dominated-by-the-far-right
| 2024-01-29T21:56:44Z
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School-going children using their mobile phones while on their way home has become a common sight on public transport. Even in my own home, it can sometimes be a battle to get my kids to set aside their devices and focus on their homework and other responsibilities.
But what about babies or pre-schoolers under the age of six? Should they be given phones just to distract them, so they can sit through a meal without a fuss?
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https://www.straitstimes.com/opinion/should-toddlers-play-with-mobile-phones
| 2024-01-29T21:56:55Z
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Ukraine is committed to settling the dispute with Hungary over the rights of the Hungarian national minority in Ukraine, the Foreign Minister of Ukraine, Dmytro Kuleba, announced during the joint press conference with Hungary’s Foreign Minister Péter Szijjártó in the Ukrainian border city of Uzhhorod on 29 January 2024.
According to Dmytro Kuleba, a special commission under the auspices of Ukraine’s Foreign Ministry will be established to deal with all issues concerning the rights of the Hungarian national minority in Ukraine, the European Pravda reported.
Dmytro Kuleba said that a significant part of the meeting with Péter Szijjártó in Uzhhorod was devoted to the issue of national minorities. According to Ukraine’s Foreign Minister, Péter Szijjártó listed problems that, from the Hungarian point of view, require either clarification or additional resolution at the level of bylaws.
“We agreed on a straightforward thing. We asked the Hungarian side to provide us with an exhaustive list of questions that it has about protecting minority rights, and we received this list. We have agreed that under the auspices of the Ministry of Foreign Affairs of Ukraine we will assemble a special commission, which has one simple task: in ten days it should submit to the governments of both countries a concrete understanding of how and what from the list of questions we have received needs to be resolved or has already been resolved, so that we can bring final clarity,” Dmytro Kuleba said.
The Ukrainian dispute with Hungary over the rights of Ukraine’s Hungarian national minority was related to decision-making regarding Ukraine’s membership in the EU. Hungary’s top officials, including Foreign Minister Péter Szijjártó, have repeatedly emphasized that the Hungarian national minority, which is compactly residing in the Zakarpattia Oblast of western Ukraine, should have more rights than it currently has at the legislative level.
On 29 January, during his visit to Uzhhorod, Hungarian Foreign Minister Péter Szijjártó said that Budapest wants the Hungarian minority in Zakarpattia to “regain the rights” it had before Ukraine’s parliament adopted a new law on national minorities. According to him, a Hungarian representative will participate in the commission’s work that will discuss the Hungarian requests with the Ukrainian side.
“We devoted part of the time allocated for the talks to national minorities. Based on what the representatives of the Transcarpathian Hungarian minority asked for, we ask the Ukrainian government to ensure the rights that existed before 2015,” Szijjarto said. “We hope that results will be achieved here, and we hope that the decisions made will be enshrined in laws,” the Hungarian minister added.
Péter Szijjártó clarified that the Hungarian government had formulated a request in 11 points: in particular, the restoration of the status of the national Hungarian school in Ukraine’s Zakarpattia Oblast, the possibility of taking a high school diploma in Hungarian and using Hungarian in public life.
The Verkhovna Rada (Ukraine’s parliament) passed the law on national minorities on 8 December, and President Volodymyr Zelenskyy signed it the same day. Leaders of the Hungarian communities in Ukraine praised the new law, but Hungarian officials criticized it.
Related:
- Ukrainian and Hungarian Foreign Ministers meet in a border city “to normalize bilateral relations”
- FT: EU threatens to isolate and hurt Hungary’s economy if Orban blocks Ukraine aid
- Hungary far-right party calls for seizing Ukraine’s Zakarpattia if Russia wins
- The struggle for Carpatho-Ukraine (1938-1939), or how WWII started for Ukrainians
- Expert explains what Hungary’s troops were really up to at Ukraine border when Russia struck
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https://euromaidanpress.com/2024/01/29/ukraine-to-set-up-commission-to-deal-with-hungarian-minority-concerns/
| 2024-01-29T21:57:12Z
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BLACKBURN, England - Sammie Szmodics scored twice as second tier Blackburn Rovers came from behind to beat lowly Wrexham 4-1 on Monday and secure an FA Cup fifth round clash with Premier League Newcastle United.
Andy Cannon fired League Two (fourth division) Wrexham ahead in the 19th minute but the Championship side replied with two more first half goals in the space of two minutes.
Szmodics equalised in the 32nd and Sam Gallagher made it 2-1 in the 34th with Wrexham goalkeeper Arthur Okonkwo caught out of position.
Szmodics then grabbed his second, and fifth of the FA Cup campaign, in first half stoppage time before Norwegian midfielder Sondre Tronstad made it 4-1 with a deflected shot in the 59th.
Cannon's goal was Wrexham's first real chance and he blasted the ball past goalkeeper Aynsley Pears to a roar from the 7,000 Wrexham fans who had made the trip to Blackburn's Ewood Park.
Pears denied Cannon a second with a fine double save three minutes later but there was to be no fairytale finish for the Welsh side as Blackburn turned up the heat and swept the visitors aside.
Wrexham have won a new global support since movie A listers Ryan Reynolds and Rob McElhenney took over and helped secure their return to the English Football League last season after a 15-year absence.
Those with longer memories will know Wrexham as past giant-killers, famously dumping then-league champions Arsenal out of the third round of FA Cup in a huge 1992 upset as fourth tier opponents. REUTERS
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https://www.straitstimes.com/sport/football/blackburn-end-wrexhams-fa-cup-run-with-4-1-home-win
| 2024-01-29T21:57:26Z
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BAMAKO -Mali has formally notified the Economic Community of West African States (ECOWAS) of its decision to leave the political and economic bloc, which it announced on Sunday with neighbours Burkina Faso and Niger.
ECOWAS has so far declined to comment, citing the lack of formal notice of the joint move, which could further weaken the bloc as it struggles to contain a democratic retreat in the West Africa region.
Mali's foreign ministry has now informed the ECOWAS Commission of its decision in a written notice dated on Monday, which was seen by Reuters.
The decision by the three countries, announced in a simultaneous joint statement on their national television channels, is a blow to the bloc's regional integration efforts after it suspended the three following coups. REUTERS
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https://www.straitstimes.com/world/mali-notifies-west-african-bloc-ecowas-of-exit-decision
| 2024-01-29T21:57:37Z
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GAZA STRIP - A senior Hamas official said on Jan 29 that the Palestinian militant group wanted a “complete and comprehensive ceasefire” in Gaza, after mediator Qatar said a framework for a temporary truce was being proposed.
“We are talking first of all about a complete and comprehensive ceasefire, and not a temporary truce,” Taher al-Nunu told AFP, adding that once the fighting stopped “the rest of the details can be discussed” including a hostage release.
Qatar, along with Egypt and the United States, has led mediation efforts since war broke out on October 7 between Israel and Hamas, triggered by the Palestinian militant group’s deadly attacks on southern Israel.
Earlier on Jan 29 Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani said that meetings in Paris with CIA chief Bill Burns and top Israeli and Egyptian security officials had resulted in a framework for a phased truce.
He confirmed that the framework would see women and children hostages released first, with aid also entering the besieged Gaza Strip.
The parties were “hoping to relay this proposal to Hamas and to get them to a place where they engage positively and constructively in the process”, Sheikh Mohammed said.
It was unclear on Jan 29 whether Hamas had received the proposal from Qatar.
Previously, Qatar mediated a one-week break in fighting in late November that led to the release of scores of Israeli and foreign hostages, as well as aid entering the besieged Palestinian territory.
The Hamas attack on October 7 that sparked the war – now in its fourth month – resulted in about 1,140 deaths in Israel, mostly civilians, according to an AFP tally based on official Israeli figures.
Militants also seized 250 hostages, of whom Israel says around 132 remain in Gaza, including the bodies of at least 28 dead captives.
Israel’s relentless military offensive in Gaza since then has killed at least 26,637 people, most of them women, children and adolescents, according to the Hamas-ruled territory’s health ministry. AFP
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https://www.straitstimes.com/world/middle-east/hamas-says-it-wants-complete-and-comprehensive-ceasefire-in-gaza
| 2024-01-29T21:57:47Z
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Protests in Peru are blocking access to Machu Picchu, one of South America's most popular heritage sites, with local anger over a new ticketing system halting rail transport to the iconic Incan site and leaving some tourists stranded.
Train services to the ancient ruins high up in the Andes have been suspended since Saturday due to safety concerns over demonstrators blocking the railway line. Travel links were still not reopened on Monday, two tour operators told Reuters.
The protests, that began late last week, have left hundreds of tourists, who flock to Machu Picchu from all over the world, unable to reach the site.
The latest dispute has delivered a fresh blow to Peru's tourism industry that was hit hard last year by widespread civil unrest, especially in the southern Andean region that is a key zone for the country's huge copper industry.
Round-table discussions entered a second day on Monday to resolve the dispute between the authorities and protesters angry at the government for consolidating ticket sales.
Peru's Minister of Culture, Leslie Urteaga, traveled to the region on Sunday, but a solution to the "indefinite strike" being led by travel unions, tour operators and residents is yet to be announced.
Community representatives in Machu Picchu fear that the new electronic ticket sales platform will hurt local businesses by "privatizing" sales and directing profits to one single firm.
Agencies responsible for the care and preservation of the site have warned about overcrowding and tickets being oversold, forcing authorities to find new ways to control visitor numbers as travel rebounds in the wake of the pandemic.
The government argues the new ticketing platform available from January will strengthen the way visitor numbers are managed. From this month entries are capped at 4,500 per day, up from 3,800 last year.
In September, Peru temporarily closed three areas of Machu Picchu, a UNESCO World Heritage Site built in the 15th century as a religious sanctuary for the Incas, due to site deterioration brought on by heavy visitor volumes. REUTERS
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https://www.straitstimes.com/world/peru-protests-block-access-to-machu-picchu-stranding-tourists
| 2024-01-29T21:57:58Z
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WASHINGTON - An elderly US man who stole a pair of ruby slippers worn by Judy Garland in the classic film “The Wizard of Oz” avoided prison time at his sentencing hearing on Jan 29.
Terry Martin, now 76, was sentenced to time served and a year of probation for the 2005 theft as he is in hospice care with six months to live, according to the New York Times.
The sequined shoes – indelibly associated with the character Dorothy clicking them together and saying repeatedly, “there’s no place like home” – were stolen from the Judy Garland Museum in the actress’s hometown of Grand Rapids, Minnesota.
Martin, who had tried to turn his life around after serving prison time for a previous theft, gave into pressure from an “old mob associate” to steal the shoes in what his lawyers described as “one last score.”
They said he mistakenly believed the slippers were adorned with real rubies, which he hoped to sell.
He reportedly had never seen the beloved 1939 film.
The footwear was recovered in an FBI sting in 2018 but no charges were filed at the time. A million-dollar reward for information leading to an arrest was offered.
In May, Terry Martin was indicted by a grand jury and charged with one count of theft of major artwork.
He pleaded guilty in October.
The slippers are among four pairs that Garland wore during the making of the movie.
They are, the Justice Department previously said, “widely viewed as among the most recognisable memorabilia in American film history.”
It said that at the time of the theft the shoes were insured for US$1 million (S$1.34 million) but their current value is around US$3.5 million. AFP
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https://www.straitstimes.com/world/united-states/wizard-of-oz-shoe-thief-avoids-prison
| 2024-01-29T21:58:08Z
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Wimbledon tennis ace Pete Sampras sported an unshaven look on Friday as he stepped out to make a coffee run in Beverly Hills, California.
The former World No. 1, who famously clinched victory over Andre Agassi at the US Open final in 2002, was spotted holding a tray of three large coffees outside his local Starbucks.
For the afternoon outing, the American sports star, 52, donned a pair of blue jeans, a charcoal grey T-shirt and a khaki green zip-up hoodie.
Pete has been keeping a low profile ever since he officially retired from tennis in 2003. The then-32-year-old bid a fond farewell to the sport at a special ceremony at the start of the US Open, flanked by his wife Bridgette and their baby son, Christian.
He was also joined by a string of tennis stars including the likes of legendary players Boris Becker, John McEnroe and Jimmy Connors. Pete played his last match against Agassi in 2002. It marked his fifth title at the tournament and made him, at 31, the oldest player ever to triumph in the competition.
Meanwhile, towards the end of 2023, Pete revealed that his wife Bridgette had been diagnosed with ovarian cancer. Sharing the news with ATP, Pete issued a statement which read: "As most have come to know, I am a pretty quiet and private person.
"However, this past year has been an exceptionally challenging time for my family and I have decided to share what’s been going on. Last December, my wife, Bridgette, was diagnosed with ovarian cancer."
He continued: "Since then, she has had major surgery, pushed through chemotherapy and continues with targeted maintenance therapy. Watching Bridgette continue to be an incredible mom and wife through it all, has been inspiring."
Pete went on to say: "I have also learned that it is very hard to reach for support when something is simply too hard to talk about. With that said, I will end this by humbly asking for good thoughts and prayers for our family as Bridgette continues to thrive on her healing journey."
While Pete has made a name for himself on court, his wife Bridgette is a former actress with a few notable film credits to her name including the likes of The Wedding Planner, Billy Madison and I Know What You Did Last Summer. In the world of TV, meanwhile, the star has appeared in Frasier, Saved by the Bell and CSI: Miami.
The couple, who tied the knot in 2000 after nine months of dating, are doting parents to two children: sons Christian and Ryan. They welcomed their eldest son in November 2002 and their youngest in July 2005.
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https://www.hellomagazine.com/celebrities/512307/wimbledon-tennis-star-pete-sampras-new-photos-california/
| 2024-01-29T21:58:39Z
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Halle Berry has been on a high following the release of her boyfriend Van Hunt's new single, Our Love Lingers, and she's been paying several tributes to him on social media ever since.
The Hollywood star took to Instagram over the weekend to post a picture of Van looking happy and relaxed while lounging on an armchair at their beach home, with a beautiful view of the ocean in the background.
Also in the background was a very lifelike mannequin standing tall and poised while staring out of the window, and at first glance, many followers mistook it for Halle herself!
"I thought that was Halle in the background. Had to Zoom in cuz Halle wasn’t looking right," one wrote, while another commented: "I need glasses, I was wondering how Halle could be standing so still in the background." A third added: "Zoomed in on the statue. Had to make sure that wasn't Halle."
Van's recent music success has been cheered on by Halle in a number of ways, and the doting girlfriend paid a sweet tribute to him on Friday after the news was out that he had been given his own label.
She wrote: "About damn time, @vanhunt! You’re so deserving of your OWN LABEL and I’m so proud of your music and your journey. You continue to do it your way and sometimes that can be a lonely road. Help me celebrate my man today y’all, cuz our love is going to linger forever!"
Halle and Van have been dating since 2020, and sparked marriage rumors in January 2022 after sharing a photo of themselves kissing in a chapel.
Clearing up their alleged union hours later, Halle penned: "We were just having some New Year’s Day fun! People clearly don’t swipe as much as we thought they did. Thank you for the well wishes, tho', it really touched our hearts. Now it's OFFICIAL, the internet is no longer undefeated #nomoreswipes4me #Januaryfoolsday," alongside a selfie with Van.
Halle's son Maceo has definitely made it clear he would love the couple to walk down the aisle and gave them their very own "commitment ceremony" whilst in the car.
Talking to AARP Magazine, Halle revealed: "My son, Maceo, of his own volition, did this little commitment ceremony for us in the back seat of the car," "I think he finally sees me happy, and it's infectious. It was his way of saying, 'This is good. I like this. This makes me happy.'"
She added: "It was a very real moment for all of us. I teared up, Van was fighting back tears. Even Maceo knew he’d said something poignant. It meant a lot to us.
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https://www.hellomagazine.com/celebrities/512309/halle-berry-intimate-beachside-photo-leaves-fans-doing-a-double-take/
| 2024-01-29T21:58:46Z
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George Stephanopoulos' beloved wife, Ali Wentworth, has found a way to keep busy after becoming an empty nester.
The Go Ask Ali podcast star is working on something close to her heart, although is feeling a little nervous about it too.
Taking to Instagram, Ali posted a picture of herself sitting in front of the fireplace in her lounge, with her laptop perched on her knee. "Starting a new book.. gulp," she wrote in the caption.
Ali is no stranger to writing, and her last book, Ali's Well That Ends Well, released in May 2022, was a huge hit with fans. Other titles to her name include Happily Ever After, Go Ask Ali and Ali in Wonderland.
Her latest book gave an incredible insight into her family life, as well as her friendships and lessons that she learnt during the pandemic.
While Ali is not one to take herself too seriously, it's safe to say that she's also incredibly open with her emotions on social media, during both the good and the bad times.
The star struggled in August when her youngest child, daughter Harper, 18, flew the nest to attend college, leaving her and George official empty nesters. What's more, unlike her older sister, who studies not too far away from home at Brown University, Rhode Island, Harper chose to go to college in Nashville.
Joining George's co-star Lara Spencer's daughter, Katherine, Harper enrolled at Vanderbilt University. At the time, Ali took to Instagram to post a number of photos of herself and George walking away from Harper's dorm on the college campus, hand in hand.
"We dropped our baby off at college. Everyone is saying 'she's ready to launch'! But… I don't think I'm ready!" she penned. "I don't want to stop making pasta with vodka sauce, picking up wet towels, cuddling up to her familiar scent. As Joni Mitchell once wrote – 'the bed's too big, the frying pan too wide'."
She continued: "I know our daughter will thrive. But man, it's brutal on the parents. If you feel inclined – please send me baked goods. I'll be under my covers."
The family reunited over the holidays, enjoying a once in a lifetime trip to Japan, where they were joined by Jerry Seinfeld and his family. Now, George and Ali are enjoying their quality time together.
The couple have an incredible love story, and the actress spoke about how they first met at a book signing in Sarasota back in 2012.
"I didn't care about politics, and figured he'd be the last person I'd be interested in," Ali said. "I was holding out for Hugh Grant or Matthew Perry."
After agreeing to go on the blind date to please her friend, Ali realised that she had a lot in common with George, even ordering the same meal – a crab salad – and proceeded to talk for hours.
George, meanwhile, told the New York Times: "You know how when you go on a date and the first 15 minutes are on automatic pilot? About 15 minutes in, she just leaned in and said something, and we were suddenly in another place, in another universe, immediately. We went from strangers to friends to being in love in days."
The pair were engaged after dating for just two months, and got married at a ceremony performed by George's father, who is a reverend. The family are incredibly close and Ali previously gave an insight into their home life.
Chatting to Harry Connick Jr, she said: "I have two girls. George is the only guy in the house. For some reason, he gets beat up constantly. He is always wrong. He is an idiot. He is a loser, but in a loving way."
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https://www.hellomagazine.com/celebrities/512310/gma-george-stephanopoulos-wife-reveals-nerves-as-she-begins-new-chapter/
| 2024-01-29T21:58:52Z
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KUALA LUMPUR – Malaysia’s King has called for political stability at the end of his five-year reign, which saw his deep involvement in picking three prime ministers between 2020 and 2022.
The unprecedented intervention by the constitutional monarch in politics followed dizzying crossovers by MPs, after Umno-led Barisan Nasional was toppled from power in the 2018 General Election for the first time since the country’s independence in 1957.
“There were challenging times during my reign,” said Sultan Abdullah Ahmad Shah in a group interview on Jan 3 with selected media.
“I feel that I have tried to do the best I can to stabilise the country’s political scenario, even though not drastically, but at least to retain harmony and stability until now,” said the 64-year old King, who is also the ruler of Pahang state.
When asked about the latest purported plot to topple the government, dubbed the “Dubai Move” as its opponents allegedly met in that city, the King said: “I don’t know if there is any truth in it or not.
“Let’s move on. The government should govern the country. Don’t politicise (things) so much. They should focus on developing the country and uniting the people. Let’s not be too parochial and narrow-minded.”
He said it was important to have a stable country and government to attract foreign investors.
“We can’t afford to have an unstable government. We want investors, who can create jobs. Stability is very important. We can’t continue to fight. We want to develop our country,” he said.
“If you change the government every year, it doesn’t guarantee you anything. That is a fact.”
Malaysia’s Constitution follows the Westminster model, with the monarch playing a largely constitutional role and acting on advice from the ruling government.
The king, however, is allowed to pick whoever he believes will command a majority in the 222-strong Parliament.
Under a system unique in the world, hereditary rulers of nine of Malaysia‘s 13 states take turns to become the Agong, or king, for a five-year term.
The other four states – the former British protectorates of Penang, Melaka, Sarawak and Sabah – are led by governors.
Sultan Abdullah was appointed the 16th Malaysian king on Jan 31, 2019, after the previous king, Sultan Muhammad V of Kelantan, abdicated after just three years.
On Jan 31, 2024, Sultan Ibrahim Iskandar of Johor, 65, will become the new king.
The fall of Umno in the May 2018 General Election led to Tun Dr Mahathir Mohamad becoming prime minister for the second time – this time as chief of a new ruling alliance led by Pakatan Harapan (PH).
But Dr Mahathir resigned on Feb 24, 2020, amid infighting within the PH alliance, forcing Sultan Abdullah to intervene to pick a new prime minister, Tan Sri Muhyiddin Yassin, who leads Parti Pribumi Bersatu Malaysia.
Another political turmoil erupted in August 2021, with the King forced to become a referee again to choose a prime minister who he believed would command a majority in Parliament. The person was then Umno vice-president Ismail Sabri Yaakob, who became the shortest-ruling premier at 15 months.
And following an inconclusive November 2022 General Election that again threatened to descend into political chaos, the King picked Datuk Seri Anwar Ibrahim as the prime minister.
That was just over 14 months ago. In the interview, Sultan Abdullah urged Malaysians to give Mr Anwar time to rule.
“It is not easy to gauge any government in one year’s time. There will be weaknesses here and there. What the PM is trying to do is to reduce all the legacy problems. You can’t do it in a year. We need to give it time to see its strengths and weaknesses.”
He added: “We already have a democratic process, an election every five years. So let the government rule for four to five years, not just change it after a year.”
Recounting what happened after the 2022 General Election, Sultan Abdullah said he had wanted all the parties to form a stable administration in the form of a unity government.
“There was no single majority. So what I did was to offer (the plan) to all the parties. I began with Tan Sri Muhyiddin Yassin and Tan Sri Hadi Awang (of Perikatan Nasional) but they rejected it outright. So what choice do I have?”
He said he had met whoever was the prime minister weekly for about an hour each time to discuss the country’s affairs – a total of 157 times over the past five years.
Sultan Abdullah also navigated the country through the Covid-19 pandemic amid the change of prime ministers, and the ensuing state of emergency.
Elaborating on the role of the royal institution, he said it was important to uphold and strengthen it. “The royal institution is very important for this multiracial, multi-religious country. It must be upheld for the sake of the nation and the future generation. The institution must be strengthened. Not (for the king) to be idolised but to remain as a protector of the people and the administration.”
Students should be taught about the role of the monarchy while the royal rulers must also know their responsibilities, he said.
“It takes two to tango. I am not saying I am perfect. I am reminding myself and others to help the people. Meanwhile, the people should get closer to the royal institution, not avoid it. It is their right.”
On relations with close neighbour Singapore, Sultan Abdullah said: “I had four PMs under my reign, they have settled a lot of issues, whether big or small. Most of the issues have been settled in principle.
“In terms of the relationship between government and government, it has always been good, and people to people, we welcome Singaporeans to Malaysia. There are a lot of Singaporeans coming to Johor, cross-border. And that helps the economy in Johor.”
Also at the interview was the Queen, Tunku Azizah Aminah Maimunah Iskandariah, who said: “And we love Singapore as well.”
During his five-year reign, Sultan Abdullah emerged as a popular figure with a casual style of ruling, often shunning protocol when meeting ordinary Malaysians.
Pictures of him handing out meals to journalists camping outside the Istana gates during the political crises, and queueing behind others to buy food at KFC endeared him to many people.
Among the most memorable times for him were meeting regular Malaysians and taking wefies, he said, adding that they gave him the impetus to carry out his duties.
Tunku Azizah is known for her culinary skills and charities such as the Tunku Azizah Fertility Foundation. She is frequently seen at flood relief shelters, cooking food for displaced victims.
A tour of Borneo which the King and his family undertook in September 2023 saw massive crowds waiting to meet them.
On Jan 17, 2024, a special news bulletin read by the royal couple was aired on TV3, drawing praise from netizens.
“He takes his job seriously. His job in life is only to serve the people. He sets aside everything else,” Tunku Azizah said of her husband.
“I can’t disturb him when he is reading the Cabinet papers, he reads them until he gets neck pain.”
Said Sultan Abdullah: “It is not as easy as one thinks to be a king.”
He has compiled seven notebooks on his observations during his reign.
“I am an avid reader, and I delved into the country’s administration matters. I found it very interesting,” he added.
With his family now slated to return to their home state of Pahang, he hopes that his legacy will be remembered fondly. “I may not be the king of Malaysia after January, but I can be the king of all of your hearts,” said Sultan Abdullah.
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https://www.straitstimes.com/asia/se-asia/let-s-move-on-malaysia-s-king-calls-for-political-stability-at-the-end-of-five-year-reign?utm_campaign=STPicks
| 2024-01-29T21:58:54Z
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Cindy Crawford is relaxing in Miami, Florida with family, and she made a rare social media appearance alongside the other generations of women in her clan.
The 57-year-old supermodel was featured in a photo from vacation shared by her mom Jennifer Sue Crawford, 77, alongside her two sisters Chris and Danielle.
The common features between the four were apparent, as all the ladies possessed the same kind faces and striking looks, showing that good looks certainly ran in the Crawford family.
Fans of the family were equally as taken, with many quickly deeming the picture "Beautiful!" while sharing a slew of heart emojis. One even said: "What a lovely group!"
In a previous interview with Into The Gloss, Cindy spoke about her mom being her inspiration for natural beauty and making do with fewer means.
"I wasn't a slow learner when it came to beauty, but I definitely didn't go from zero to 60," she stated. "My mom never wore makeup, she just used soap and never wore moisturizer or anything, never got a bikini wax – that just wasn't who she was.
"Also we didn't have money, so maybe she had Oil of Olay or something later on, but she really didn't spend any money on grooming or beauty products."
She also revealed that it was in fact Jennifer who had dissuaded her from removing the beauty mark above her lip despite teasing from her sister, which has since become one of her most iconic features.
"She talked me out of getting my 'ugly mark' – as my sister called it – removed," Cindy reminisced. "Apparently if it was on the right side it was a beauty mark, and if it was on the left it was an ugly mark. I would get teased by the other kids in school, so I definitely wanted to get it removed.
"But my mother always said, 'You know what your mole looks like, you don't know what the scar is going to look like.' Now it's so much just a part of my face that I don't think 'Oh, how's my mole doing today?'"
MORE: Cindy Crawford twins with lookalike model daughter Kaia Gerber – and it's uncanny
She continued: "But it's the thing that made people remember me, and it made a lot of women who also have beauty marks identify with me. They set you apart."
She expressed, however, that while she grew to love her mole, but sometimes, it was hard not to notice. "Honestly though, if I was designing my face from scratch I don't know if I would have designed it with the mole.
MORE: Cindy Crawford causes a stir in risqué beach cover-up
"It does look weird when they retouch it or when they flop a photo. Other people don't notice it but I'm like, 'They flopped it!' My whole face is different. That's one of the things that drives me crazy."
One of the celebrated "Supers" in the modeling world, she has passed the legacy on to her children with husband Rande Gerber as well, those being her son Presley, 24, and daughter Kaia, 22.
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https://www.hellomagazine.com/celebrities/512312/cindy-crawford-rare-appearance-vacation-photo-stunning-mom-two-sisters/
| 2024-01-29T21:58:58Z
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Rumer Willis is embracing motherhood in the best possible way, not only taking the time to dote over her newborn daughter, but also sharing her journey of ups and downs along the way.
The 35-year-old actress, the eldest of Bruce Willis and Demi Moore's daughters, welcomed her first child, Louetta Isley Thomas, in April 2023 with partner Derek Richard Thomas.
On Instagram, the star shared a new update on her home life with her baby girl, revealing that both mom and daughter had already battled viruses at the start of the year.
"This year has already been a bit of a doozy health wise, Lou and I have struggled through two viruses just in this month and what I realize the universe was telling me was to slow down and focus on nourishing my immune system and my body," she penned.
She continued to explain that she relied on certain wellness brands and products that she had partnered with that not only helped them keep their health at safe levels, but also allowed her to prioritize their wellbeing.
"Remembering to do that is not always easy so finding ways that I can squeak it in with even the smallest amount of time is what I look for," Rumer explained.
"Another big thing as a new mom, my adrenals can get taxed very quickly from breastfeeding and running around chasing after Lou all day, plus I have always had high anxiety and stress. So I recently started taking [the brand's] adrenal tonic to help keep me nourished."
She broke down some of her favorite products that she used, and at one point, even called out her family for dipping in. "And the only reason the vitamin c and glutathione are not in the video is because my family hijacked my stash over the holidays, both of which I take everyday."
Rumer then issued a challenge to her followers to join her, concluding with: "I challenge you to join me in taking the next 90 days to commit to your health and nourishing yourself this year."
At the start of the year, Rumer shared a reflective post looking back on some of the big milestones to come out of 2023, recapping the emotional highs of welcoming her daughter and the lows of seeing her father struggle through his frontotemporal dementia.
"Last year was incredibly dynamic, I grew a human being, gave birth at home (with no drugs) surrounded by my family," she said, also talking about growing in her relationship with Derek, taking 6 AM ocean swims four times a week, becoming more comfortable in her own skin, and celebrating seven years of sobriety.
She revealed that she "wrote [lullabies] with my daughter's dad, shared moments of wonder at the tiny being who chose us, spent precious love filled moments with my Daddio, learned from my mama, celebrated my first Mother's Day and found strength in myself I didn't know existed and watched my daughter grow in front of my eyes.
"I don't know what this next year will bring but man I can't wait to see what's next."
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https://www.hellomagazine.com/healthandbeauty/health-and-fitness/512308/bruce-willis-daughter-rumer-opens-up-daughter-lou-health-struggles/
| 2024-01-29T21:59:04Z
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TUNISIA – I do a double take as I gaze at the azure and whitewashed houses lining the cobblestone streets, the shimmering Mediterranean Sea just within my line of sight.
Am I in Santorini?
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| 2024-01-29T21:59:04Z
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Jennifer Garner and Jennifer Lopez continue to give fans a master class on amicably leading a blended family.
Since the "This Is Me… Now" singer became a stepmom to the Alias alum's three children with Ben Affleck, the two haven't shied away from praising each other and their approach to co-parenting.
The 13 Going on 30 actress was married to the Air director from 2005 to 2018, and together they welcomed kids Violet, 18, Seraphina, 15, and Samuel, 11. He is now a stepdad to his wife's two kids with ex-husband Marc Anthony, twins Max and Emme, 15.
On Sunday night, the two Jennifers and Ben warmed hearts when they were spotted out in Los Angeles with kids Seraphina, Samuel and Emme.
They all dressed casually, with Ben sporting a red plaid button down shirt and camel jeans, paired with mismatched Nike sneakers, while his wife opted for a cozy, white monochrome sweater and jeans look, and Jennifer wore a gray sweater with blue jeans.
Back in 2022 – shortly after JLo and Ben tied the knot – the Marry Me actress opened up about co-parenting with Jennifer in a cover story for Vogue, declaring her as an "amazing co-parent," and maintained that she and Ben "work really well together."
She shared: "The transition is a process that needs to be handled with so much care," noting: "[The kids] have so many feelings. They're teens."
MORE: Jennifer Garner reunites with Alias co-stars ahead of 25th anniversary
"But it's going really well so far," she added, and further explained: "What I hope to cultivate with our family is that his kids have a new ally in me and my kids have a new ally in him, someone who really loves and cares about them but can have a different perspective and help me see things that I can't see with my kids because I'm so emotionally tied up."
Lucy Shrimpton, The Sleep Nanny and Parenting Expert at The Baby Show, recently shared with HELLO! her thoughts on the Garner-Affleck-Lopez dynamic, opining: "[Garner] seems laid back, caring, present and confident. She clearly doesn't hold petty grudges since she's friends with her ex-husband's partner, Jennifer Lopez, and even takes her kids out too."
She added: "Today there are so many blended families and they are an inspiration that things can work out and that old concept of the 'evil step-mother' is a thing of bad fairy tales.
"No doubt it must have been extremely hard for Jennifer and Ben Afflck and the whole family when they decided to go their separate ways but they are a shining example that you can overcome difficulties and come out the other side with an open mind and an open heart."
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https://www.hellomagazine.com/healthandbeauty/mother-and-baby/512311/jennifer-lopez-jennifer-garner-perfect-co-parents-latest-outing/
| 2024-01-29T21:59:10Z
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Robert Crimo III dropped out of high school a year before his junior year and made an attempt at a musical career as a rapper.
An enthusiastically political individual, he was active on message boards and maintained a private server on the gaming communications platform Discord, where he exchanged nihilistic political memes with like-minded friends.
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| 2024-01-29T21:59:35Z
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In this series, manpower reporter Tay Hong Yi offers practical answers to candid questions on navigating workplace challenges and getting ahead in your career. Get more tips by signing up to The Straits Times’ HeadSTart newsletter.
Q: A colleague asked me about my salary package and the bonus I received. Is it appropriate for me to tell them?
A: Employment contracts commonly emphasise that one’s remuneration is private and confidential, says Mr Glen Chua, senior manager at recruitment firm Robert Walters Singapore.
“Nevertheless, there is a growing trend in which employees share their pay data, viewing it as a means to promote fairness and transparency within the workforce,” he notes.
However, he adds: “Despite this shift, it is crucial to acknowledge the possible implications of revealing sensitive salary information, as it may impact workplace relations, considering the inherently confidential nature of discussions about pay.”
In considering whether to disclose their own salary, employees should consider company policy, personal comfort, and potential implications for workplace dynamics, says Ms Annie Lim, a certified Institute for Human Resource Professionals (IHRP) senior professional.
“While acceptable in certain contexts like close friendships or transparent cultures, it is not universally appropriate.”
Ms Lim notes that employees may seek their peers’ figures for benchmarking or to address disparities or inequities.
However, those uncomfortable with disclosing their pay can politely decline, emphasising their need for privacy and expressing a preference to keep compensation information confidential, she suggests.
She also advises employees facing such questions to suggest that their colleague ask the human resources department or company management these compensation-related questions.
Salaries and bonuses can vary between individuals even within the same job role, notes Ms Archana Srinivasan, another IHRP senior professional.
Factors that affect the figures include performance, specialisation within the role, demand and supply, seniority in the role and the company’s financial resources.
Any disclosure should be done discreetly and only when one deems it necessary, says Ms Srinivasan.
“For example, if the request comes from a credible source where confidentiality will be maintained, I’d then be comfortable sharing the details,” she adds.
She also says that while it may seem all right to exchange salary details with close friends, individuals need to consider the risk of the figures being disseminated further.
“Having said that, if it is a friend who is changing jobs and trying to understand the pay levels, then we may provide a salary range as guidance rather than one specific figure.”
Ms Srinivasan also says that pay secrecy is an unstated expectation in Asia and employers generally do not encourage employees to discuss such information widely.
Employees typically discuss salaries to understand if they are paid right, both in absolute terms and relative to their colleagues, she says.
“In this context, a company’s reward philosophy and pay parity become very important.”
She adds: “There will always be differences, but as human resources practitioners we should do our best to help employees understand why those differences exist.”
Have a question? Send it to askst@sph.com.sg
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https://www.straitstimes.com/singapore/jobs/askst-jobs-should-you-tell-a-colleague-how-much-you-earn?utm_campaign=STPicks
| 2024-01-29T21:59:46Z
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It's a time of excitement in the Hawn-Russell household, as Goldie Hawn and Kurt Russell prepare to become grandparents once again, the seventh grandchild for the actress.
The longtime couple are expecting the birth of their son Wyatt Russell and daughter-in-law Meredith Hagner's second child. The parents are preparing to welcome a second son into the family.
As a result, preparations for the baby are already underway, and mom Meredith has the coziest nursery done up! Check out the warm and inviting space in the video below…
The room was done up in accents of brown, gold, and bits of blue, bathed in a warm light that promised only the most comfiest of naps for the baby and his doting mom.
Meredith, 36, and Wyatt, 37, are already the parents of son Buddy Prine Russell, who turned three years old during the holidays. Wyatt spoke about the idea of celebrating both Christmas and his son's birthday during an appearance on Late Night with Seth Meyers.
Explaining that Buddy's birthday falls the day after Christmas, he says: "We do Christmas, 25th – we wake up, we do the Christmas. It's nuts. It's a disaster most of the day. It's great most of the day."
However, when it comes time to get birthday ready, apparently they're not the only ones who are all tuckered out. "[He] goes to sleep, wakes up. Mer and I are like, 'Buddy, it's your birthday!' Like, 'Gotta get excited.'
"And he goes – and he's 3 – he goes, 'Ugh! Not now!'"
MORE: Goldie Hawn makes rare appearance to celebrate upcoming arrival of youngest grandson
As they broke down laughing, the former ice hockey player added: "We're like, 'You got it! That's the right answer! You're learning well.' Like, no one wants to celebrate your birthday."
Back in November, around the time she confirmed that she was indeed expecting once again, Meredith shared a vulnerable and honest essay she'd penned about the complexities of motherhood.
"There's a new stranger attached to you both physically and energetically, and the you that has been 36 years in the making will exist in a different energy entirely," she wrote.
"She exists in the surreal portal of the universe that is: newborn. In the late nights, and the cracked nipples, and the flabby stomach. The baby screaming bloody murder and you can't figure out why."
She added that she would "look back with a dumb blank face feeling like I was a horrible mother" when she didn't find herself enveloped by the feelings of bliss that motherhood was supposed to bring.
"I felt so lonely and tired in those early days. And I wish someone had told me how normal that is, and how it's no way indicative of the mother I would be."
MORE: Goldie Hawn and Kurt Russell's family share exciting baby update
Meredith continued that despite all that, eventually, a mom reaches a point when it all becomes worth it when she indulges in all the joyous moments she can with her little one and her partner.
"And not long in the not so distant future you and your baby will be dancing together in the kitchen to Lizzo and you'll bring your unique you-ness to your mothering, and you and your lover will be out at a party and you all will be hiking together and it will all be as it should be."
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https://www.hellomagazine.com/healthandbeauty/mother-and-baby/512313/goldie-hawn-seventh-grandchild-cozy-new-nursery-see-inside-famous-parents-home/
| 2024-01-29T22:29:21Z
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LANSING — Gov. Gretchen Whitmer’s push for new economic growth tools would bolster business-attraction incentive programs, helping Michigan stay competitive with the 49 other states, Canada and Mexico, according to the state’s top economic development official.
Quentin Messer Jr., CEO of the Michigan Economic Development Corp., said all four proposals could garner bipartisan legislative support. In fact, some already have — House-passed bills that would restore a research-and-development tax credit and update the Renaissance Zone law.
The governor’s call to revive, and change, a Gov. Rick Snyder-era tax incentive for job creation, however, may have a tougher time advancing.
The old Good Jobs for Michigan program was launched in 2017 and closed off from new deals at the end of 2019. The Michigan Strategic Fund authorized $188 million of income tax withholding captures for six large-scale projects for Stellantis, Ford, Acrisure, Aptiv, KLA and Pfizer in exchange for about 9,400 committed jobs.
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As of September 2022, none of the jobs had been verified yet on annual certificate applications submitted to the state, according to an MSF report released last year.
Good Jobs would be renamed the High-wage Incentive for Regional Employment in Michigan, or HIRE, program. The state could lure business expansions by letting them keep, for up to 10 years, up to 100% of income taxes from new jobs — at least 50 jobs with a median wage equal to 175% of the regional median or a minimum 250 jobs equal to 150% of the regional median. The previous program required at least 250 jobs to be added but allowed for lower pay, 125% of the regional average, or pay equal to the regional average if a minimum of 500 jobs (50% capture) or 3,000 jobs (100% capture) were added.
Messer said the state has a “small hammer” and a “big hammer” with the Michigan Business Development Program, under which grants, loans and other assistance are capped at $10 million per project, and the Strategic Outreach and Attraction Reserve fund, which has been used to support big, capital-intensive projects. Those include three electric vehicle battery or parts factories.
“When you have a small hammer and big hammer, everything looks like a nail,” he told reporters after Whitmer’s State of the State address last week. “What we’ve realized is that there is a universe of companies who may not be in industries that are capital-intensive, some of our knowledge-sector industries or even in some of our more capital-intensive. We need to make sure that we have the ability to attract and retain R&D, headquarters jobs, those jobs at higher income levels. Basically, the way the statutes work, it is very difficult to fit those types of opportunities within the two tools we have.”
HIRE Michigan, combined with the R&D tax credit and the Renaissance Zone modernization, “allows us to supplement and help companies across the spectrum, not just capital-intensive or manufacturing,” he said.
Captures would be limited to $100 million annually, or $1.3 billion overall, compared to a $200 million overall limit under the old program.
“If jobs are created based upon a certain wage level, then they won’t receive any credit until they create the jobs. So the jobs will pay for themselves,” Messer said, later adding: “We’re talking about bringing back things that were here. We’re not talking about newfangled, untested economic development tools.”
The legislation cleared the Democratic-controlled Senate Economic and Community Development Committee in October but did not go further during an abbreviated fall session. Republicans on the panel voted no.
Senate Minority Leader Aric Nesbitt, who opposes such business incentives, criticized proposed provisions that would require the MSF to consider if a business expansion or location would advance diversity, equity, inclusivity and accessibility; leverage clean-energy technologies; and honor workers’ decision to unionize.
“It looks like DEI jobs for woke corporations. It’s just every little favored left-wing Democratic interest group that they’re trying to do,” he said before Whitmer’s speech, again questioning her decision last year to repeal the “right-to-work” law. “We’ve got to get back to the fundamentals instead of picking winners and losers and trying to get huge checks to the most profitable multinational corporations.”
A coalition of 12 regional economic development groups welcomed Whitmer’s plan.
“Competition to lure companies away from Michigan is fierce. The proposed HIRE program is a dynamic and flexible option for stimulating diverse economic growth in all of Michigan’s regions, including second-stage technology-oriented companies that are attractive to young people,” Economic Development Leaders for Michigan said in a statement.
Whitmer also is proposing a new innovation fund to help early-stage startups. Details were not released.
It is unclear how quickly lawmakers may look to act, given the House is temporarily deadlocked 54-54 until April, when Democrats will regain their majority in two special elections.
Some Democrats also have balked at economic development bills and at the very least hope to revamp SOAR, a fund that has been both celebrated for big wins and criticized as “corporate welfare.” Any deal likely will require bipartisanship, and it appears Whitmer wants everything packaged together and not sent to her piecemeal. That could mean items with broader support wait while negotiators seek consensus on more contentious proposals.
House Minority Leader Matt Hall, a Republican, is a proponent of the R&D credit now pending in the Senate.
“Unlike Whitmer’s strategy with electric battery plants, that’s something that will actually attract the high-paying jobs,” he said.
Asked what he will say to his caucus’ most liberal members who might oppose the HIRE incentives, Democratic House Speaker Joe Tate said “being able to diversify our economic toolkit is going to be important.” He noted steps that were taken in 2023 to fund housing and revitalization and placemaking grants.
Messer said the onus is on himself and others to educate legislators and ensure the additional tools are enacted into law.
“I am very confident that we will have a toolkit that is comparable to our peers,” he said. “That’s simply what we’re talking about.”
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https://www.crainsgrandrapids.com/news/economic-development/push-for-new-economic-development-incentives-faces-uncertain-legislative-future/
| 2024-01-29T22:49:40Z
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Frederik Meijer Gardens & Sculpture Park will use findings from its 2023 economic report unveiled Monday as the “baseline” for a broader strategy to generate more nonlocal visitor spending and Kent County room stays in the coming years.
The Grand Rapids Township-based nonprofit arts and horticultural destination — last year named the nation’s top sculpture park by USA Today readers — on Monday published the findings of a 2023 economic study conducted by Grand Valley State University.
The report, based on visitor surveys and internal data, found Meijer Gardens generated $138 million in economic activity in 2023, supporting 1,167 jobs and contributing $77.6 million to Kent County’s gross domestic product.
It also found that Meijer Gardens drew a record estimated 755,000 visitors last year, up from 686,763 in 2022 and 328,539 in 2020, before its $115 million expansion had wrapped.
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Sixty-two percent of last year’s visitors came from outside Kent County, while 38% were local.
GVSU’s last Meijer Gardens study published in 2017 found that the destination generated $75.2 million in economic activity that year, and 86% of the visitor spending came from individuals outside Kent County.
After adjusting for inflation, Meijer Gardens’ economic activity in Kent County increased about 44% from 2017 to 2023, according to calculations shared with Crain’s Grand Rapids Business by GVSU’s lead researcher for the report, Christian Glupker.
Charles Burke, who became Meijer Gardens’ new president and CEO in February 2023, said the organization commissioned the follow-up study for a number of reasons. One was to gauge the effects of COVID-19 on cultural visits and spending, as well as to assess the return on investment of the 2017 Welcoming the World: Honoring a Legacy of Love capital campaign, which funded the facility’s multiphase expansion that wrapped in 2022.
“This (study) is the first lens into ‘That campaign is working,’ and it’s having an amplifying effect for the region,” Burke said. “As we look at all the other wonderful transformational projects that are going on in the region, from the amphitheater to the soccer stadium and other big projects, we wanted to make sure that people were reminded of this 30-year-old institution that is really bringing a lot of influence to our region.”
Burke called $138 million in economic activity a “very significant number” for the institution founded in 1995.
“I think that’s a testament to the power of philanthropy, I think it’s a testament to the power of the vision of Fred and Lena and the entire Meijer family, and the community as a whole,” he said. “To have an institution that is focused on gardens, butterflies, the amphitheater, (sculptures and) on bringing people together to generate this type of deep and meaningful economic activity for the region, is a profound statement of the ‘specialness’ of our community.”
As Meijer Gardens’ new leader succeeding former President and CEO David Hooker, Burke said he wanted the study done now as part of a “wider matrix” of internal actions underway to give the nonprofit a “baseline” and “good metrics” as it builds its next strategic plan.
That plan will primarily look to drive financial sustainability for Meijer Gardens apart from philanthropy, but Burke said there’s also an opportunity to play a greater role in the county’s large-scale visioning and planning effort, Kent County 2050.
Al Vanderberg, Kent County administrator/controller, said Meijer Gardens is one of a large number of organizations invited to help with Kent County 2050.
“Meijer Gardens is a major national attraction, and when you look at their record with conservation, with art, with preservation, they are going to be a major, major player in this community well into the future, and so I think that their voice is one of the major voices that we want to tap into … (to) be part of helping define the future.”
Burke said Meijer Gardens hopes to help by drawing people in for longer stays and more spending.
“Our hope over the long term … is that we can move the institution from being perhaps a three- to five-hour experience with a number of repeat visitors within our membership, to perhaps a three- or four-day experience, where we can drive people to hotel rooms who spend time in Grand Rapids (and) spend time at other cultural institutions,” he said. “It’s part of a greater tapestry of interconnectedness.”
Burke said it’s too soon to disclose what might be on the table internally to make its vision to grow overnight stays in Kent County a reality, but the leadership team is brainstorming with the board, donors, volunteers and employees to examine the full Meijer Gardens experience, from exhibits to events to concerts, to see what combination of tweaks could make people stay longer.
“All of these things are part of an algorithm that’s creating a future strategic framework for us to build our operations around,” he said.
Glupker, the lead researcher for the study, said he was “really shocked” by the sheer number of visitors every time he stopped to check in on his GVSU student researchers during the visitor intercept survey period for this study, which ran from June to August last year.
“The place was just absolutely hopping in the middle of the afternoon,” he said. “I’m an Ottawa County resident, and even though I have young kids and would love to take in Meijer Gardens (more often), that’s a long drive for a 5-year-old. So I’d never really understood the scope of it. It’s just the place to be.”
Vanderberg described Meijer Gardens as a “major reason” to visit Kent County.
“It’s a destination,” he said. “They are a draw to the community that brings significant economic impact to Kent County, and they also provide a cultural and educational resource that our school kids are able to access through their classes, (and) they partner with many different organizations throughout the community. Meijer Gardens is a huge asset in Kent County.”
Burke said Meijer Gardens plans to spend about $10 million over the next three years on capital improvements, which mainly will include maintenance of the grounds, artwork and buildings.
Additional highlights from the report:
- Although Meijer Gardens is a nonprofit and exempt from federal income tax, the visitor direct spending, operational spending and capital investment spending generate $353,115 in annual tax revenue for Kent County.
- Half of the nonlocal visitors were visiting Meijer Gardens for the first time, and 48% of the local visitors visit the place six or more times a year.
- 40% of all visitors have household incomes over $125,000.
- 37% of all visitors have a four-year degree, and 40% of all visitors have a graduate degree.
- There were 271,541 primary visitors to Meijer Gardens, which means visitors who stated their primary reason for being in Kent County was to visit the facility.
- All local and nonlocal primary visitors generated $20.9 million in direct spending.
- The direct spending from primary visitors results in $30.6 million in economic activity, supporting 268 jobs.
- The nonlocal primary direct spending generates $106,969 for Kent County.
- Meijer Gardens’ organizational spending generates $35.7 million in additional economic activity and support for 301 jobs.
- Over the past three years, Meijer Gardens’ capital investment spending generated an average of $12.1 million in annual economic activity and support for 80 jobs.
More from Crain’s Grand Rapids Business:
New details emerge on the proposed $300M Kalamazoo Event Center
Advia Credit Union to acquire Illinois bank
Priority Health case sparks debate over insurance coverage of high-cost therapies
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https://www.crainsgrandrapids.com/news/hospitality-tourism/key-investments-boost-meijer-gardens-stature-as-local-economic-driver-report-finds/
| 2024-01-29T22:49:46Z
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Bridgville Plastics Inc., a third-generation injection molding business in southwest Michigan, will close at the end of February unless someone is in a position to buy the manufacturing operation that employs 15.
Founded in 1987 by Manfred Moneta and his son, Thomas, Bridgville Plastics started serving the appliance market from a pole barn with four machines before expanding into the automotive and custom molding markets as well as a larger facility.
Now operating in a 16,500-square-foot facility with 11 presses in Stevensville, a town of 1,150 people near the small town of Bridgman — thus the name Bridgville — the business had been on a growth trajectory.
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Sales to the automotive market grew to 40 percent and rivaled the company’s business in the appliance market with the remaining 20 percent coming from custom projects such as cart handles and framing components for doors.
Grandson T.J. Moneta joined the company in 2021, planning to carry on. Sales had increased to $2.88 million in 2022 even though the pandemic had brought challenges that persisted related to labor and higher wages.
“When we came out of COVID, wages rose exponentially,” Thomas Moneta said in a phone interview.
A goal was set to reach $3.2 million in sales in 2023, in part by bringing in new business, which was a struggle.
“My dad built the company by going out and finding customers,” Moneta said. “Now you don’t go knocking on doors. You can’t even get into a company now through the front door. So much has changed. We weren’t able to attract new business.”
Satisfying existing customers got trickier, too.
“We struggled to get price increases. Some customers allowed small price increases and others none,” Moneta said. “When you run an old part at old pricing that’s a problem. You need the new work.”
Still, the company was on track to meet its 2023 goal until the six-week United Auto Workers strike in September and October put the brakes on existing work and cash flow, which put the family at this crossroad.
“The business with the name Bridgville Plastics will have to close but there’s still the building, land, machines and everything involved. If someone has been looking to expand, but it has been cost prohibitive, this plant is ready to go as a plug-and-play operation,” T.J. Moneta said in a phone interview. “We have great employees that would love to keep working in the building even if it is under a new name.”
The facility is 30 years old and well maintained on a site with room to expand. The building has high ceilings, 5- and 10-ton cranes and new equipment.
While some prospective buyers are interested in the building, the Monetas want to cast one more wide net to see if any individual or company might need the facility and its assets for injection molding.
“Come see our building and business. We’re an open book with nothing to hide and hopes that someone will see the value we have and that it could value them,” T.J. Moneta said. “And if they want us to run it with their oversight, that’s an option, too. I know labor is hard to find.”
For any business looking to offload molding work or take over a facility to run as they want, the Bridgville Plastics plant and people could be the solution.
“The best-case scenario is someone purchases the assets and maybe the building and keeps things running, but so far that hasn’t happened,” T.J. Moneta said. “We still have a lot of feelers out but maybe there’s someone we don’t know about and maybe they’re the right fit. This could be a really good investment for them.”
The timing is tight. An audit and equipment appraisal is scheduled for the week of Jan. 29 and Bridgville Plastics plans to close at the end of February.
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https://www.crainsgrandrapids.com/news/manufacturing/family-owned-injection-molding-company-seeking-buyer-before-forced-closure/
| 2024-01-29T22:49:52Z
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After four years in business, Brunch House is expanding with a second location opening in the coming months at the former Manna Cafe near Forest Hills.
Owner Nick Barham said he signed a lease for space at 820 Forest Hills Ave. SE in Grand Rapids Township where he is adding an upscale brunch spot that will offer a “modern, classy” take on traditional brunch fare. Barham hopes the new restaurant, which will seat 110, will take the concept for his Muskegon-area brunch restaurant to a new level.
Barham is the grandson of Bill Barham, the founder of Muskegon pancake restaurant Mr. B’s, which opened in 1974, and has been in the restaurant business all his life. Dave Barham, Nick’s father, currently operates the restaurant, which has served downtown Muskegon for 50 years.
In 2019, Nick Barham opened his own take on breakfast food, Brunch House at 3065 Henry St. in Roosevelt Park, offering a range of mimosas and cocktails in addition to traditional brunch fare. Despite opening only months before the COVID-19 pandemic, the restaurant has succeeded and is growing a loyal fanbase in the Muskegon area, Barham said.
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Barham, who lives in Grand Rapids, has been eyeing a move into the metro area for some time, hoping to bring his restaurant to an area that lacks brunch options. Forest Hills stood out to him, and when a vacant space opened up at the former Manna Cafe, he jumped at the chance.
Manna Cafe operated at Forest Hills Retail Center for nearly nine years, opening in late 2013 and closing in 2022. A Facebook post announcing the closure cited staffing issues as a result of the pandemic as its primary reason for closing.
The restaurant was co-owned by Christian nonprofit Manna Ministries Worldwide founder Craig Witcher and his wife, Julie. Manna Cafe served a range of breakfast, brunch and lunch items and featured a gift shop, The Market, which offered fair trade, handcrafted items from around the world to benefit Manna Ministries’ programs.
Since December, Barham has been working with Grand Rapids-based general contractor Visser Brother Inc. and Tyler Devereaux Interior Design to build-out an entirely new look and feel for the restaurant, including the addition of a bar.
“When you walk into the place, you are not going to recognize it,” he said.
While the build-out remains ongoing, Barham hopes to open in March if all goes to plan. The restaurant will employ between 30 and 40 full-time workers.
According to Barham, the new Brunch House will mirror the menu at Roosevelt Park, with seasonal features like holiday cocktails, pumpkin pancakes and bourbon peach waffles. The core menu includes a range of traditional breakfast items like pancakes, omelets, eggs benedict, breakfast burritos and french toast alongside smoothies, fresh-brewed coffee and kombucha on tap. Lunch options range from burgers to chicken strips and salads.
While the menu will remain the same, Barham hopes the new Brunch House will take his eclectic, modern restaurant style to a new level.
“It’s definitely more of an upscale place,” he said.
More from Crain’s Grand Rapids Business:
New details emerge on the proposed $300M Kalamazoo Event Center
Advia Credit Union to acquire Illinois bank
MSU Health Care helps employers save on insurance costs with new direct contracting model
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https://www.crainsgrandrapids.com/news/restaurants-1/muskegon-area-restaurant-operator-brings-brunch-concept-to-grand-rapids/
| 2024-01-29T22:49:58Z
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HAP (Health Alliance Plan), a Michigan-based nonprofit health plan, adds Gwen MacKenzie and Christopher Stanley, M.D. as director to the HAP board and non-director, Clinical and Service Quality Committee board member, respectively.
MacKenzie, a CEO with experience leading complex healthcare organizations, currently serves as a senior advisor in McKinsey and Company’s Global Healthcare Practice.
Dr. Stanley has more than 30 years’ experience as a clinician and healthcare leader with a passion for improving equity in cost and quality of care. He currently serves as President, Healthy Populations for Henry Ford Health (HFH) where he created a wholly owned, independent population health services organization.
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https://www.crainsgrandrapids.com/people-on-the-move/new-additions-to-health-alliance-plans-board/
| 2024-01-29T22:50:04Z
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https://www.producthunt.com/posts/omnipilot-ai-copilot-for-macos
| 2024-01-29T22:58:12Z
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RIO DE JANEIRO - Miners Vale, BHP and their joint venture, Samarco, should strike a deal to compensate for a deadly dam disaster in 2015 or risk paying a lot more in court, the Minas Gerais state prosecutor general told Reuters.
Last week a federal judge ruled that the firms must pay up to 47.6 billion reais ($9.67 billion) in damages, in a decision still subject to appeal.
In an interview on Friday, Minas Gerais state Prosecutor General Jarbas Soares Junior told Reuters that the federal ruling only accounts for collective damages, with the firms still on the hook for damages caused to states, to the environment and to other parties involved.
"The total will be very high," he said, adding that the firms should strike a deal when talks resume in February, to avoid more costly litigation.
Soares Junior is one of the many officials that would have to sign off on a deal that could settle lawsuits on state and federal levels involving the disaster.
The 2015 dam collapse in the southeastern city of Mariana caused a giant mudslide that killed 19 people and severely polluted the Rio Doce river, compromising the waterway to its outlet in the Atlantic Ocean.
In separate statements Vale, BHP and Samarco said they were committed to repairing the damage caused by dam collapse, while declining to comment on the court ruling, because they have not yet been notified by the judiciary of it.
Vale added that the Renova foundation, which the companies have been using to pay for some of the repairs, had paid until last December 34.7 billion reais in socioeconomic and environmental compensation. REUTERS
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https://www.straitstimes.com/world/brazil-state-prosecutor-urges-vale-bhp-to-settle-over-dam-disaster
| 2024-01-29T23:26:35Z
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WASHINGTON - Over a dozen students alleged on Monday that Harvard University failed to protect them from harassment and threats "based solely" on their pro-Palestinian identity, the group representing them said.
The Muslim Legal Fund of America said its legal division filed a civil rights complaint on Monday with the U.S. Education Department's Office for Civil Rights on behalf of those students. The complaint urged a probe into Harvard.
Rights advocates have noted a rise in Islamophobia, anti-Palestinian bias and antisemitism in the U.S. since the eruption of war in the Middle East.
Among anti-Palestinian incidents that raised alarm were a November shooting in Vermont of three students of Palestinian descent and the fatal stabbing of a 6-year-old Palestinian American child in Illinois in October.
The Harvard students alleged "harassment, intimidation, threats and more based solely on them being Palestinian, Arab, Muslim, and supporters of Palestinian rights," the group said. It added the students also underwent racist attacks, doxxing, stalking, and assault, including for wearing keffiyehs, or Palestinian scarves.
A Harvard spokesperson said the university had no comment on the complaint on Monday, but added that Harvard had resources in place to support students including a task force announced on Friday to combat Islamophobia and anti-Arab bias.
Harvard and other U.S. colleges have simmered with tension over responses to the Oct. 7 Hamas attack on Israel and Israel's subsequent offensive in Gaza.
Earlier this month, Claudine Gay resigned as president of Harvard following backlash over her congressional testimony on antisemitism. She and two other university presidents declined to give a definitive "yes" or "no" answer to a question on whether calling for the genocide of Jews would violate their schools' codes of conduct regarding bullying and harassment, saying it would have to be balanced against free-speech protections.
Some students alleged that Harvard had threatened "to limit or retract the students' future academic opportunities," the Muslim Legal Fund of America said on Monday.
The affected students attend Harvard College, Harvard Graduate School of Arts and Sciences, Harvard Divinity School, and Harvard Law School, the group said.
Some of those students have family in Gaza, where local health officials say more than 26,000 people have been killed since Israel launched its military offensive in response to the Oct. 7 rampage by Palestinian Islamist group Hamas that killed 1,200, according to Israeli tallies. REUTERS
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https://www.straitstimes.com/world/middle-east/complaint-alleges-harvard-didnt-protect-pro-palestinian-students-from-threats
| 2024-01-29T23:26:45Z
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GAZA/DOHA/WASHINGTON - Israel launched an assault on Gaza’s biggest city, weeks after pulling back from it, while Washington vowed on Jan 29 to take “all necessary actions” to defend its troops after a deadly attack in Jordan, the first US military deaths in the Middle East since the Gaza war began.
A day after three US service members in Jordan were killed and at least 34 wounded in what Washington called a drone attack by Iran-backed militants, President Joe Biden’s administration was under pressure to respond firmly without triggering a wider war.
“The president and I will not tolerate attacks on US forces and we will take all necessary actions to defend the US and our troops,” Defence Secretary Lloyd Austin said on Jan 29 at the Pentagon.
White House National Security spokesman John Kirby said: “We don’t want a wider war with Iran. We don’t want a wider war in the region, but we got to do what we have to do.”
Iran has denied any role. Mr Biden has previously ordered retaliatory attacks on Iran-backed groups, but has so far stopped short of hitting Iran directly.
“Have no doubt - we will hold all those responsible to account at a time and in a manner of our choosing,” Mr Biden said on Jan 28.
In northern Gaza, residents said air strikes on Jan 29 on neighbourhoods across Gaza City, the enclave’s biggest city, killed and wounded many people. While Israeli tanks shelled eastern areas of the city, naval vessels fired at beachfront areas in the west, they said.
Israel said in late 2023 that it had largely completed operations in northern Gaza, and has recently aimed the brunt of its might at southern Gaza.
The renewed push in Gaza City, where residents reported fierce gun battles near the main Al-Shifa Hospital, suggested that the war was not going to plan.
Among those killed were two Palestinian journalists, Mr Essam El-lulu and Mr Hussein Attalah, and several members of their families, health officials and the journalists’ union said.
Hamas, for its part, fired its first volley of rockets for weeks into Israeli cities, proving that the militant group running Gaza still had the capability to launch them after nearly four months of war.
The Israeli military said it shot down six of 15 rockets. There were no reports of any casualties in Israel, where air raid sirens and explosions of interceptions sounded.
Gazans said the violence in the enclave made a mockery of a World Court ruling last week calling on Israel to do more to help civilians.
Gaza health officials say 26,637 Palestinians have been killed in the conflict with thousands more bodies likely under the rubble of destroyed buildings.
“The war continues in a dirtier manner,” said Gaza City resident and Palestinian human rights activist Mustafa Ibrahim, displaced with his family in Rafah near the southern border with Egypt, along with more than a million other Gazans.
Israel ordered new evacuations of the most populated areas of Gaza City, but people said communications blackouts meant many would miss the alerts.
Israel says Hamas is responsible for the deaths of civilians because its fighters operate among them, which the fighters deny.
People in the north have been grinding animal feed to make flour after flour, rice and sugar ran out, part of an aid crisis now potentially exacerbated by a withdrawal of support for the United Nations’ aid agency for Palestinian refugees, UNRWA.
The United States and several other countries have suspended aid to the agency since Jan 26 after Israel said 13 of UNRWA’s 13,000 staff in Gaza were involved in the Oct 7 Hamas attacks on Israel, which killed about 1,200 people.
U.N. Secretary-General Antonio Guterres met the head of UN internal investigations to ensure an inquiry into the allegations “will be done swiftly and as efficiently as possible,” a UN spokesperson said.
The Israeli report, seen by Reuters, said 190 UNRWA staff were militants and named 11.
UNRWA, which says more than 150 of its staff have been killed since October and a million Palestinians are sheltering in its buildings, said it would have to end operations within a month if funding was not restored. It said it had promptly fired staff after being alerted to Israel’s allegations.
Air strikes on Jan 29 also hit the southern city of Khan Younis, the main focus of Israeli attacks since last week. That has brought fighting deep into territory where hundreds of thousands of people who already fled other areas are sheltering.
Israel’s military said on Jan 29 it will keep pressure on the city and that it has killed more than 2,000 Palestinian militants there.
In a renewed, desperate exodus, people went south on foot carrying children and bedding.
Suleiman Abusari, a boy in a wheelchair pushed by his father, said his legs were amputated after an Israeli drone hit him.
“My dream was to play football,” he said. “They stole my dream.”
‘Not over the finish line’
Mr Biden and other leaders have been pushing for a new temporary ceasefire to allow for the release of hostages held by Hamas and more aid to reach Gaza.
Talks on Jan 28 initiated by Qatar and involving US, Israeli and Egyptian intelligence chiefs were “constructive”, Israel said, while adding that “significant gaps” remain.
Hamas reiterated on Jan 29 that Israel must halt its Gaza offensive and withdraw from the Gaza Strip before any prisoner exchange takes place. Israel says it will fight until Hamas is eradicated.
The White House’s Mr Kirby said negotiations for a new hostage deal had been constructive, but much work remains to be done. US Secretary of State Antony Blinken told a news conference the talks had been important and “hopeful.”
Mr Kirby also said comments by some Israeli politicians were “reckless” and “incendiary” after Israel’s hard-right Security Minister Itamar Ben-Gvir urged Jewish settlers to return to Gaza.
Mr Ben-Gvir’s remark drew condemnation from Palestinians, who said his words amounted to a call for their forced deportation. REUTERS
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https://www.straitstimes.com/world/middle-east/israel-renews-assault-on-gaza-city-us-vows-all-necessary-actions-after-troops-killed
| 2024-01-29T23:26:56Z
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WASHINGTON - The US military on Jan 29 released the names of the three Army Reserve soldiers killed in the drone attack by Iran-backed militants in Jordan a day earlier, with the youngest victim just 23 years old.
The names are: Sergeant William Jerome Rivers, 46, of Carrollton, Georgia; Specialist Kennedy Ladon Sanders, 24, of Waycross, Georgia and Specialist Breonna Alexsondria Moffett, 23, of Savannah, Georgia.
“On behalf of the Army Reserve, I share in the sorrow felt by their friends, family, and loved ones,” said Lieutenant-General Jody Daniels, chief of the Army Reserve and commanding general of US Army Reserve Command.
“Their service and sacrifice will not be forgotten, and we are committed to supporting those left behind in the wake of this tragedy.”
The attack on Jan 28 also wounded more than 40 troops when the drone slammed into the housing units early in the morning. It was the first deadly strike against US troops since the Israel-Hamas war erupted in October and marks a major escalation in tensions that have engulfed the Middle East.
The United States is trying to determine exactly why the nearly 350 troops at the base in Jordan, known as Tower 22, were unable to stop the drone.
Two US officials said on Jan 29 that air defences failed to stop the attack in part because the hostile drone approached its target at the same time a US drone was returning to the base.
The return of the US surveillance drone to the remote resupply base caused some confusion over whether the incoming drone was friendly or not, and air defences were not immediately engaged, according to the officials, who spoke on the condition of anonymity to discuss preliminary findings into a major contributing factor to the incident.
Two other drones that attacked other locations nearby in south-east Syria were shot down, they added.
The Wall Street Journal earlier reported the drone mix-up, which is now at the heart of an investigation by the military’s Central Command. REUTERS, NYTIMES
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https://www.straitstimes.com/world/middle-east/youngest-us-soldier-killed-in-jordan-drone-attack-was-23
| 2024-01-29T23:27:06Z
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Austin vows “all necessary actions” after US troop deaths
US Defense Secretary Lloyd Austin vowed on Jan 29 that the United States would take “all necessary actions” to defend its troops after a drone attack by Iran-backed militants that killed three US troops and wounded dozens more.
The attack on Jan 28 was the first deadly strike against US forces since the Israel-Hamas war erupted in October, and marks a major escalation in tensions that have engulfed the Middle East.
“Let me start with my outrage and sorrow (for) the deaths of three brave US troops in Jordan and for the other troops who were wounded,” Austin said at the Pentagon.
Ex-IRS contractor sentenced to 5 years for leaking Trump tax records
A former US Internal Revenue Service contractor was sentenced on Jan 29 to five years in prison for leaking the tax records of former President Donald Trump and thousands of other wealthy Americans to media organisations, with a judge calling his actions a threat to democracy.
Charles Littlejohn, 38, pleaded guilty in October to a charge of disclosing income tax return information without authorisation.
US District Judge Ana Reyes, who handed down the sentence in federal court in Washington, linked Littlejohn’s actions to broader attacks on elected officials in the United States.
Hamas says it wants ‘complete and comprehensive ceasefire’ in Gaza
A senior Hamas official said on Jan 29 that the Palestinian militant group wanted a “complete and comprehensive ceasefire” in Gaza, after mediator Qatar said a framework for a temporary truce was being proposed.
“We are talking first of all about a complete and comprehensive ceasefire, and not a temporary truce,” Taher al-Nunu told AFP, adding that once the fighting stopped “the rest of the details can be discussed” including a hostage release.
Qatar, along with Egypt and the United States, has led mediation efforts since war broke out on October 7 between Israel and Hamas, triggered by the Palestinian militant group’s deadly attacks on southern Israel.
Nadal’s 2007 French Open winning racket sells for $158k at auction
Rafael Nadal’s championship point winning racket from his 2007 French Open final victory over Roger Federer was sold for more than US$118,000 (S$158,270) at an auction on Jan 29, ranking among the highest-priced such memorabilia.
Nadal beat Federer 6-3 4-6 6-3 6-4 in the 2007 final in Paris to win his third Grand Slam title before the Spaniard moved on to secure a further 19 - 14 of them at Roland Garros - becoming one of the sport’s greatest players.
The racket, which Nadal also used in previous matches of the tournament, including his semi-final victory against Novak Djokovic, sold for US$118,206 at an online auction, Prestige Memorabilia’s The Tennis Auction, that closed on Monday at 0255 GMT.
Amazon, Roomba-parent iRobot abandon $1.88 billion merger deal
Amazon and robot vacuum maker iRobot said Jan 29 they would end their plans to merge in the face of opposition from EU and US antitrust regulators.
iRobot announced a significant restructuring plan to reduce costs and said it would cut about 31 per cent of its workforce, or 350 jobs. The company also said founder Colin Angle has stepped down as its CEO of the Roomba robot vacuum manufacturer.
Angle said given the current challenges, he and the board “mutually decided that iRobot will be better served by a new leader with turnaround experience.” Amazon said its proposed US$1.4 billion acquisition of iRobot had no path to regulatory approval in the European Union.
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https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-jan-30-4
| 2024-01-29T23:27:17Z
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Imagine a sprinkler system with S-shaped arms. The water comes out and the sprinkler moves – so far, it seems pretty straightforward. Now imagine the complete opposite version: Your sprinkler is submerged and sucking in water. The question that physicist Richard Feynman asked was the following: in which direction does it rotate? We now have an answer, showing the complexity of the motion of fluids.
If you have a simple clear idea of how it would behave, you are in good company. Feynman believed that people would be either in the reverse rotation camp or in the same rotation camp, with sound logic or how that would work. Experiments since 1985 (when the book Surely You're Joking, Mr. Feynman! was published) are more of a mixed bag, showing reverse rotation, unsteady rotation that changes direction, and motion completely dependent on the geometry of the system. It is a big whole mess.
The latest research set out to provide a global understanding of the mechanics of the system. Thanks to a precise experimental setup and successive modeling, the team got to the solution of the puzzle. The sprinkler does indeed reverse direction, but this motion is unsteady and much slower. So, reversing the flow of water in a sprinkler system is not the same as seeing the system playing backward.
Step one to understand the challenge is to submerge the sprinkler in water and make it rotate. This needs to happen with as little friction as possible in either direction. In the standard forward motion, the motion of the sprinkler is driven by jet propulsion. In the reverse version, the sprinkler is still being driven by jet propulsion but with an average rotation rate about 50 times slower.
The reverse approach still is puzzling if you can’t track what goes on inside the sprinkler. After all, the flow going inside should cancel out and not generate any net torque. The team used dyes and light to follow the behavior of the flow. In the forward case, the sprinkler beautifully moves as water comes out of the s-shaped arms.
The arms shaped in the reverse sprinkler, which in the video above is kept stationary to help visualize the internal behavior, flung the water slightly off the center, creating a small but measurable motion. The flow is asymmetrical, giving rise to the peculiar profiles seen in the various experiments.
“The regular or ‘forward’ sprinkler is similar to a rocket, since it propels itself by shooting out jets,” senior author Leif Ristroph, from New York University, said in a statement. “But the reverse sprinkler is mysterious since the water being sucked in doesn’t look at all like jets. We discovered that the secret is hidden inside the sprinkler, where there are indeed jets that explain the observed motions.”
There is no need for sprinklers that suck in water, but applications for devices whose flow might be similar have now some solid modeling to rely upon. And while this is specific to water, the mechanics of this are shared among fluids.
A paper describing the results is published in the APS journal Physical Review Letters.
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https://www.iflscience.com/feynmans-reversed-sprinkler-puzzle-finally-has-a-solution-72685
| 2024-01-30T00:08:53Z
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Plants have been up to some pretty weird tricks already this year and now a tree fern species (Cyathea rojasiana) has joined the party. Well, in order to join in it first has to die and then come back from the dead to help its mother. Let us explain.
Cyathea rojasiana is a tree fern species found in the forests of western Panama. In a new discovery, the fern is found to be able to reanimate its own dead leaves, making roots that then pull nitrogen from the soil that keep feeding the mother plant.
When alive, the aging leaves are tilted downwards so that the middle of the leaf, known as the rachis, can touch the ground. As the leaf dies off, the structures inside the rachis that once carried water to the living leaf parts, change and become living roots instead. These new living roots dig down into the soil and keep providing nutrients to the rest of the plant.
“This is a truly novel repurposing of tissue. And it’s distinct from what we know other ferns do,” said Professor James Dalling, lead author of the study, in a news release.
The fronds of the tree fern appear to be simply decaying plant matter even when the conversion to root process is happening. The team think this is the first case of a fern being able to repurpose the leaves of a plant to feed itself in this way.
Why the plant might do this is traced back through geological time. The plant belongs to an ancient lineage of tree ferns that dates back to the Jurassic period. It is thought that the roots that develop from the dead leaves evolved to draw more nutrients out of poor volcanic soils.
“Panama is a land bridge between North and South America that coalesced 7 million years ago out of an archipelago of islands, and those islands are the result of volcanic activity in the past,” said Dalling. “In one site we discovered, a layer of volcanic ash several meters deep looks like sand that you would dig up on a sandy beach. The plants that grow there are distinct from those that we find elsewhere in that forest reserve.”
The tree fern is very slow growing, and invested a lot of energy in resources into growing the leaves in the first place. The fact they only grow to around 2 meters (6.5 feet) tall helps to ensure that when the leaves start to age and droop they always touch the ground. Perfect for their zombie comeback.
The paper is published in Ecology.
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https://www.iflscience.com/one-of-a-kind-zombie-fern-can-reanimate-dead-leaves-to-feed-the-rest-of-the-plant-72686
| 2024-01-30T00:08:55Z
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With Donald Trump threatening to pull back US support, NATO countries grow anxious over forecasts that Russia could rebuild and invade alliance territory within coming years, the New York Times reported.
“We have always kind of suspected that this is the only existential threat that we have,” Maj. Gen. Veiko-Vello Palm, Estonia’s land forces commander, told the NYT. According to Palm, many NATO militaries are not ready to fight Russia.
NATO has worked to revitalize Europe’s military capacity since 2014, when Russia first invaded Ukraine. But the progress made could still leave allies unprepared. “So it’s not very comforting,” General Palm said.
As NATO stages its biggest exercises since the Cold War, anxiety simmers that the drills ready forces for imminent attacks. “We have to realize it’s not a given we are in peace,” said NATO Military Committee chairman Rob Bauer.
Analysts say Russia could rearm within years of the Russo-Ukrainian war conclusion. “Just because it got all chewed up in Ukraine doesn’t mean they’re off the board for a decade or more,” said Atlantic Council’s Christopher Skaluba.
Norway’s top commander echoed the distress of being “short on time” before unpredictable Russia’s attack. “There is a window now that will perhaps last for one, two, maybe three years, where we will have to invest even more in a secure defense,” General Eirik Kristoffersen warned.
This rapid timeline, combined with wavering US support if Trump returns to power, leaves European allies bracing for earlier aggression. “If anyone thinks this is only about Ukraine, they’re fundamentally mistaken,” President Zelenskyy warned at the World Economic Forum this month. “Possible directions and even a timeline of a new Russian aggression beyond Ukraine become more and more obvious.”
Read more:
- Zelenskyy warns of “world redistribution” and Putin’s war against EU if the West stops military aid for Ukraine
- The Russian military spending is seven times higher than the NATO average – The Telegraph
- NATO countries must prioritize security of their societies to defeat Russia, Zelenskyy says
- BILD: NATO plans largest exercise since Cold War, involving 90,000 soldiers, to deter Russia
- The Times: Europe steps up plans to independently arm Ukraine if Trump wins in 2024
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https://euromaidanpress.com/2024/01/29/nyt-russian-attack-on-nato-looms-as-trump-threatens-to-abandon-alliance/
| 2024-01-30T00:14:35Z
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The Netherlands will allocate €122 million in military aid to Ukraine, the Defense Ministry of the Netherlands announced on 29 January, the European Pravda reported.
According to the European Pravda, most of the funds (€87 million) will be used to purchase 155-mm artillery ammunition for Ukraine. This military aid package will complement the €130 million allocated by the Dutch government to the German-led fund that purchases ammunition for Ukraine’s Armed Forces.
Another €25 million will be transferred to the International Fund for Ukraine, led by the United Kingdom, which finances the joint purchase of military equipment, including air defense systems, ammunition, and spare parts, directly from manufacturers.
Russia understands only language of strength, chief of Dutch Army warns
The Netherlands allocated the remaining €10 million to strengthen cyber defense in Ukraine as part of the IT coalition, which it joined after the last meeting of the Ramstein Contact Group on Ukraine’s Defense.
In addition to the Netherlands, 11 other countries are members of the IT coalition: Ukraine, Belgium, Great Britain, Denmark, Estonia, Iceland, Italy, Latvia, Lithuania, Luxembourg, and Japan.
The Dutch Defense Minister, Kajsa Ollongren, said it is vital to support Ukraine not only in the short term but also in the long run.
The Dutch government has earmarked €2 billion in military support for Ukraine for 2024, €295 million as a contribution to the European Peace Fund, €89 million for justice, and €3 million for non-military cyber support.
On 22 December 2023, Ukraine’s President Volodymyr Zelenskyy confirmed that the Netherlands would deliver 18 F-16 jets to Ukraine in 2024.
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https://euromaidanpress.com/2024/01/30/netherlands-boosts-military-aid-to-ukraine-by-e122-million/
| 2024-01-30T00:15:15Z
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ASTANA – Air Astana, a flag carrier from Kazakhstan, announced the price range for its initial public offering (IPO) that will commence in February, saying it plans to raise $120 million.
Kazakhstan’s largest airline, which is 51% owned by Samruk Kazyna Sovereign Wealth Fund, and 49% by British BAE, confirmed its plan to float in London on Jan. 19.
“The company’s GDRs [referring to global depository receipt] will be priced at a range of $8.5 to $11 for one GDR consisting of core shares, which means that each share of the company will be at a price range between $2.13 to $2.75 per share,” said Air Astana Chief Financial Officer Ibrahim Canliel during a Jan. 29 press briefing.
Air Astana aims for a market valuation of between $770 million and $962 million, Canliel said.
Canliel and Air Astana CEO Peter Foster are now in London for a roadshow. “Significant progress is being made towards our initial public offering on the London Stock Exchange, the Astana International Exchange, and the Kazakhstan Stock Exchange,” said Peter Foster.
He noted the response to the offering has so far been strong and positive.
“Both locally in Kazakhstan, here in London, and in other parts of the world, where we have been presenting the company to the investor community now for over two and a half months,” said Foster.
IPO will take place on three exchanges – the London Stock Exchange, the Astana International Exchange (AIX), and the Kazakhstan Stock Exchange (KASE).
“At AIX and London, we will be offering GDRs, and ordinary shares will be offered through the Kazakhstan Stock Exchange,” said Canliel.
The $120 million that Air Astana plans will “cater for its investment needs for the next stage of growth for the company.”
“It is also important that the two shareholders have committed to a lock-up period for 180 days after the transaction,” said Canliel.
Canliel said the listing will be ongoing till Feb. 8. The unconditional dealings in GDRs are scheduled to commence on the London Stock Exchange on Feb. 14 and on the AIX and the KASE on Feb. 15.
Commenting on the company’s financial health and performance, Canliel said Air Astana was one of the first airlines to return back to profitability after COVID-19 as early as 2021. “While the airlines globally are still trying to get back to pre-2019 levels, in our last 12 months, we are running 56% ahead of 2019. Our revenues in the last 12 months are 32% ahead,” he said.
In terms of financial stability, he said the company has been in a “very comfortable cash position,” running at 25% in 2022 and 26% in the first nine months of 2023 of total sales in terms of cash.
In December, the company announced a record 20.5% increase in total revenue and other income in the first nine months of 2023, reaching $900.6 million compared to $747.2 million in the same period of 2022. The operating profit rose by 11.2%, reaching $128.9 million, compared to $115.9 million during the first nine months of 2022.
The company planned to float earlier, but the process was delayed multiple times. Foster said it was all “due to geopolitics.” The first impeding factor was the COVID-19 pandemic, and the second one was the war in Ukraine.
Air Astana flies 49 aircraft, and Foster said last week the company took delivery of its 50 fleet. The plan is to have 80 aircraft by the end of 2028.
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https://astanatimes.com/2024/01/air-astana-announces-price-range-for-ipo-plans-to-raise-120-million/
| 2024-01-30T00:15:53Z
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Rheinmetall AG, a leading German arms manufacturer, will build a new ammunition factory to supply the German and Ukrainian armed forces, Rheinmetall CEO Armin Papperger told Bild.
Against the backdrop of the Russian increasing arms production and North Korea’s transfer of artillery ammunition to Russia, the Ukrainian army is forced to ration ammunition due to the suspension of US military aid.
According to Armin Papperger, there is a productive cooperation between the German federal government and the arms industry.
“A lot has changed for the better in the field of military procurement. The pace is fast: what would have taken ten years in the past is now being done in a few months. We will now build a new ammunition plant in Germany in record time to create strategic supply security,” Rheinmetall’s CEO said.
Last year, Rheinmetall alone received orders or framework agreements from the German government totaling more than €10 billion for both the German Armed Forces and Ukraine, Armin Papperger. According to Rheinmetall’s CEO, this amount will increase to at least 15 billion in 2024.
German arms manufacturer Rheinmetall plans to start producing the first Fuchs and Lynx armored vehicles in Ukraine in 2024. The collaboration with Western arms producers is seen as a crucial step for Ukraine in revitalizing its domestic arms industry. The broader objectives of this collaboration include reducing Ukraine’s dependence on Western aid, providing an economic boost, and expediting ammunition supplies to the front lines to help Ukraine repel the Russian invasion.
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https://euromaidanpress.com/2024/01/30/rheinmetall-to-build-new-ammo-factory-to-meet-needs-of-germany-and-ukraine/
| 2024-01-30T00:15:55Z
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ASTANA – The Global Gateway Investors Forum for the European Union – Central Asia Transport Connectivity kicked off with a plenary session on Jan. 29 in Brussels. The European and international financial institutions announced the 10 billion euros (US$10.2 billion) commitment to invest in the development of the Trans-Caspian International Transport Route (TITR) connecting Europe and Central Asia.
As part of the two-day event, the European Investment Bank (EIB) Global has also signed memoranda of understanding for project co-financing with Kazakhstan, the Kyrgyz Republic, Uzbekistan, and the Development Bank of Kazakhstan (DBK) worth 1.47 billion euros (US$1.6 billion).
“Transport is the backbone of the modern economy, facilitating personal mobility and enabling goods, capital, and services to be exchanged between the countries of the region. In addition, investing in sustainable transport is key to addressing climate impact and enhancing the resilience of transport networks,” said EIB Vice-President Teresa Czerwinska.
The long-term objective is to enhance the capacities of the Trans-Caspian International Transport Route (TITR), known as the Middle Corridor. For this purpose, the forum provides a platform for considering specific actions and mobilizing financial commitments. It is imperative for the key stakeholders to strengthen connectivity within the Central Asian region through the Global Gateway initiative, the EU’s strategy aimed to invest in infrastructure projects worldwide.
In this regard, the EIB’s support for sustainable transport in the region is expected to mobilize additional capital resulting in total support for sustainable transport projects of 3 billion euros (US$3.2 billion). The bank will also share its expertise with Central Asian partners. Over the last decade, it has financed transport projects worth 136.5 billion euros (US$148 billion) globally.
“In the spirit of collaboration and progress, the Investors’ Forum marks a pivotal step towards realizing the ambitious vision of the Trans-Caspian Transport Corridor. Together, we strive to achieve a faster, more reliable connection between Europe and Central Asia, fostering stronger ties and opening new avenues for cooperation and trade. I am very pleased to see that international partners present today are committing to provide €10 billion ($US10.2 billion) in investments to develop sustainable transport connectivity in Central Asia, including new European Commission and European Investment Bank commitments of €1.5 billion (US$1.6 billion), with more to come through the Commission’s open architecture for investment guarantees,” said European Commission Executive Vice-President Valdis Dombrovskis.
In his welcoming speech at the plenary session, Dombrovskis noted that “the EU is already Central Asia’s largest investment partner, accounting for more than 42% of total foreign direct investments (FDI).”
The signing of the memoranda of understanding, he emphasized, represents an opportunity for both the EU and Central Asian countries to strengthen trade relations in a way that benefits both regions.
According to European Commission Vice President Margaritis Schinas, the forum is “an important milestone in the EU-Central Asia partnership, bringing together public and private investors from both regions to kickstart the work on the Trans-Caspian Transport Corridor to link Europe and Central Asia in a fast, safe, and sustainable way, in line with the EU Global Gateway strategy.”
Vice-President of the European Commission Josep Borrell emphasized the need for closer partnerships to address global challenges.
“Central Asia has become a crucial partner for the EU with its vast potential notably in terms of security and connectivity, as well as energy and resource diversification. To be better prepared to face today’s challenges, both Europe and Central Asia need to strengthen their resilience and diversify their political and economic relationships,” he said.
For Transport Commissioner Adina Valean, the Middle Corridor is the cornerstone of the efforts aimed at promoting regional economic integration and further growth in the region, as well as better connections with Europe. “We have identified 33 physical infrastructure investment needs, ranging from modernizing railways to increasing port capacity and fleet renewal,” she said.
Kazakh Minister of Transport Marat Karabayev expressed gratitude to the European partners for the efforts to fortify ties with Central Asian countries through the Global Gateway initiative and shared the statistics on Kazakhstan’s transport sector.
“Last year, the cargo turnover by railway amounted to 300 million tons, 85 million of which are Kazakhstan’s exports. More than 27 million tons are transit traffic. In addition, 80% of the railroad transportation between China and the EU goes through Kazakhstan,” said Karabayev.
“As for road transportation, it is growing at an outstripping rate. By the end of last year, Kazakhstan’s transit traffic only with China increased two times – from 1 to 2 million tons, and the total transit volume increased by 43% from 3.5 to 5 million tons,” he added.
The Kazakh minister highlighted the positive dynamics of EU-Kazakhstan cooperation, recalling recent developments, including Kazakhstan’s participation at the Global Gateway Forum in Brussels in October last year, and a meeting with the Vice President of the European Commission Margaritis Schinas a week ago.
Kazakhstan is the only Central Asian country to have introduced the fifth degree of freedom, the right to carry passengers and cargo between two countries where neither is the home base of the airline operating it. Karabayev noted that over the past two years, the use of Kazakhstan’s airspace has doubled.
“We also completed the negotiation process with the European Commission to sign a horizontal agreement, which will allow each European airline to fly from any part of Europe to any point in Kazakhstan,” he said.
The two largest airports in Kazakhstan were transferred into private ownership. The Almaty International Airport is now owned by TAV, a Turkish airport operation and services firm, which is part of Groupe Aeroports de Paris (ADP). Nursultan Nazarbayev International Airport in Astana, in turn, is under the trust management of the UAE’s Terminals Holding.
Karabayev announced that Kazakhstan is ready to “give the remaining 22 airports to European investors for management, which have a great potential to become a transit hub between Asia and Europe.”
He emphasized that “at least €40 billion ($43.2 billion) will be needed to implement major infrastructure projects.”
As part of the opening session, high-level representatives from Central Asian countries, Deputy Chairman of the Cabinet of the Ministers of the Kyrgyz Republic Bakhyt Torobayev, Deputy Prime Minister of Uzbekistan Jamshid Khodjaev, Transport Minister of Tajikistan Azim Ibrohim, Deputy Director-General of the Agency for Transport and Communications under the Cabinet of Ministers of Turkmenistan Batyr Annayev, delivered opening remarks, commending the EU’s support and expressing hope for the fruitful cooperation.
The development of the Trans-Caspian transport network is now an important part of the increased and deepened EU-Central Asia cooperation. The multimodal route starts from Southeast Asia and China and runs through Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, and further to European countries.
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https://astanatimes.com/2024/01/eu-ca-transport-forum-kicks-off-in-brussels-eib-global-allocates-over-1-6-bln/
| 2024-01-30T00:16:00Z
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ASTANA – The course of events on Kazakhstan’s diplomatic front in 2024 unfolded with President Kassym-Jomart Tokayev’s first official visits to Italy and the Vatican. Kazakhstan-Vatican relations are poised to advance with a shared commitment to interreligious dialogue – a theme dear to both sides, said Apostolic Nuncio to Kazakhstan Archbishop George Panamthundil in an interview with The Astana Times.
The urgent commitment to promote peace and stability amid conflicts and humanitarian crises took center stage in the discussions of President Tokayev and Pope Francis during their meeting on Jan. 19 in the Vatican.
From the nuncio’s perspective, His Holiness’s audience with the Kazakh leader once again highlighted the intention of the two countries to promote collaboration and underscored the importance of stepping up an open dialogue on the international stage.
“Global challenges need global leaders to meet, talk, and act in favor of peace and stability in the world. That is what President Tokayev and Pope Francis did. For example, the ‘third world war in pieces,’ as Pope Francis usually says, and the climate change can’t be addressed by isolated actors,” said the archbishop.
“The two leaders clearly indicated that these problems can’t be resolved from a myopic perspective, confined by temporal, spatial, or self-centric limitations,” he noted.
Thirty-two years have passed since the establishment of diplomatic relations between the Holy See and Kazakhstan on Oct. 17, 1992. Among the countries of the Commonwealth of Independent States (CIS), Kazakhstan was the first to sign an agreement on mutual relations with the Vatican back in 1998. President Tokayev, at that time Kazakh Foreign Minister, signed the document himself. Last year marked its 25th anniversary.
“It is deeply true that our relations already have a history to remember and to rely on. The dynamics of our cooperation is underpinned by a mutual recognition and trust, common aspirations for the well-being of people of Kazakhstan and humanity at large,” said Panamthundil.
The apostolic nuncio mentioned the signing of a supplementary agreement between Kazakhstan and the Holy See in the Kazakh capital on Sept.14, 2022. The agreement facilitates the acquisition of a stay permit in Kazakhstan by pastoral workers.
“This agreement confirms Kazakhstan’s commitment to issuing permanent residence permits to foreign catholic priests and nuns assigned for long-term service. In turn, the Catholic Church is committed to work tirelessly for the common good and to help each believer to be an ‘adal azamat’ [an honorable citizen in Kazakh]. All social projects the Catholic Church is undertaking throughout the country contribute to building a better present and future for the needy,” he said.
Apart from interreligious dialogue, Panamthundil underscored the importance of cooperation in medicine and historical and archival research, which is outlined in respective memorandums of understanding between Kazakhstan and the Vatican.
Pope Francis’ visit to Astana in September 2022 became a large-scale event for the entire Central Asian region. As part of the 38th apostolic journey, he conducted a holy mass for nearly 10,000 people. He also participated in the seventh Congress of Leaders of World and Traditional Religions, a permanent international interfaith institution for the dialogue of religions launched on Kazakhstan’s initiative in 2003.
“Kazakhstan recognizes the importance of this endeavor and is earnestly committed to its furtherance. Similarly, the Holy See is eager to make a meaningful contribution to this initiative,” he said, referring to the platform.
Religions, according to the apostolic nuncio, play a fundamental role in the promotion of peace and understanding between peoples and countries.
“The quintessential instrument for each constructive process is a dialogue. As Pope Francis says, only in an open dialogue, we can understand intentions and concerns, even the sufferings in the heart of the other,” he said.
The congress provides a venue for religious leaders to share visions and listen to each other. It is aimed to showcase the peacemaking potential of religions as contributors to global stability.
“As it was mentioned by President Tokayev, we need a regular and trust-based dialogue at the highest level to develop relations between the countries. The preparatory events between the congresses include meetings, visits, and interactions, where each one tries to understand the partner in a dialogue,” he said.
In January, the archbishop visited Almaty to meet with Metropolitan Alexander Mogilev of Astana and Kazakhstan. This year marks the 25th anniversary of the establishment of the Orthodox diocese of Astana and Almaty.
“I visited the beautiful Ascension Cathedral [a Russian Orthodox cathedral in Almaty’s Panfilov Park]. His Excellency Jose Luis Mumbiela Sierra, the bishop of the Catholic Diocese of the Holy Trinity in Almaty and the president of the Catholic Bishops’ Conference of Central Asia, was also present at the meeting. The warmhearted meeting took place on a providential date – from Jan. 18 to 25 of each year the Week of Prayer for Christian Unity is celebrated, and this year the theme was taken from the Gospel – love the Lord your God… and your neighbor as yourself,” he said.
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The Legend of Steel Empire (NS) - Review
by Evan Norris , posted 2 hours ago / 315 ViewsThe shoot-'em-up Steel Empire has been on a wild ride. It started on Sega Genesis in 1992, saw a Game Boy Advance port in 2004, earned a remake on 3DS a decade later in 2014, and received a Steam port of that remake (with upgraded graphics and controls) in 2018. Now, in 2024, it arrives on Switch essentially unchanged from its Steam version. If you somehow missed this horizontally-scrolling shooter on a myriad of platforms over the past 30 years, now is your chance to see what it's all about.
As for this Switch version of the game, there's good news and bad news. Let's start with the good: the core gameplay holds up quite well more than 30 years later. A horizontally-scrolling shoot-'em-up, Steel Empire falls under the "Euroshmup" umbrella, defined by longer levels, the inclusion of a player health bar, and enemies with lots of hit points. Despite belonging to a classification often maligned by shooter aficionados, the game has a lot going for it.
For one, it benefits from an atypical steampunk aesthetic. Where a lot of shooters lean on science-fiction templates or WWII designs, Steel Empire operates in a world of locomotives, dirigibles, floating submarines, ironclads, and even steam-based windmills. For another, it includes two playable ships: a slow zeppelin with more hit points and a nimble airplane with more effective air-to-ground attacks. Each ship can fire forward and backward, and deploy a screen-clearing lightning bomb called "Imamio Thunder".
Steel Empire also benefits from some interesting, surprising set-pieces. The mine stage is particularly memorable. First you'll scroll diagonally downward, avoiding falling rocks from behind, and then at a climactic moment your ship will reverse course and ask you to outrun a giant fireball. There's also an exciting bit later in the game where you ascend upward along a sheer cliff, and another where you avoid deadly blasts by hiding behind floating rocks. These unpredictable segments help offset some other stages, which suffer from flat, uneventful level layouts.
A few austere level designs aren't the only things that keep Steel Empire shy of greatness. It also features a simple, straightforward scoring system that doesn't encourage much experimentation. At the end of each stage, you'll receive a score based on enemies defeated, remaining health, and bombs used. It absolutely gets the job done but it lacks the depth and versatility of other shoot-'em-up systems. Then again, this is a Euroshmup at heart, so it's really more about adventure than score-chasing.
So, that's the good news; Steel Empire remains an enjoyable scrolling shooter in the Euroshmup tradition, all these years later. The bad news is that this version, The Legend of Steel Empire, is essentially a direct port of the Steam release, which was only slightly modified from the 2014 3DS version. There's nothing new or exciting here to warrant a repeat purchase. If you've never played the game, though, and you're a Switch owner who loves scrolling shooters, then it might be worth the $24.99 investment. Alternatively, you could wait for the upcoming Steel Empire Chronicles, which includes this HD version of Steel Empire, along with the Genesis and GBA versions, for $39.99.
To be fair, if you haven't experienced the game since the GBA days, there is new stuff here, carried over from 3DS and Steam. That includes remastered graphics, a larger field of view, multiple difficulty levels, achievements, a training mode, a local leaderboard, and the ability to save between levels. This latter addition is especially beneficial due to the game's runtime. With seven lengthy stages and slow-moving gameplay, Steel Empire will take approximately 60 minutes — far longer than the average shmup.
While the developers of this Switch port retained all the bells and whistles of the modern incarnation of Steel Empire, they missed an opportunity to add to it, or at least add an extra layer of polish. The game suffers from some weird translation issues, as if the porting process over the years was a long game of telephone. The chief enemy is alternately called "Motorhead" and "Morterhead", and the opening text warns of the "destrugtion of mankind". The achievements seem a bit wonky as well, to the point that I suspect they are mislabeled. After finishing the game on normal, I unlocked achievements for clearing the game on very hard, but not on normal. I also unlocked the achievement for clearing stage six, but not stage three. Finally, there's a grating sound effect that plays through the opening cinematic. It's meant to replicate the clicking of an old-fashioned projector, but it sounds like an audio glitch.
This Switch port might be called The Legend of Steel Empire, but there's nothing legendary about it. It's essentially the Steam version of the game from 2018, which was based on the 3DS remake from 2014. That said, it still ranks among the best versions of Steel Empire, thanks to its remastered assets and the inclusion of special features like training mode and a local leaderboard. It's not quite a definitive version, but it is an easy way to play an underappreciated fourth-generation shoot-'em-up on the go.
This review is based on a digital copy of The Legend of Steel Empire for the NS, provided by the publisher.
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After a hiatus of over six months, Daniela Ruah is ready to dive back into the world of NCIS, even if it's not NCIS: Los Angeles.
The Kensi Blye actress ended her 14-season-long tenure on the beloved show back in May, when NCIS: LA, the franchise's first and longest-running spin-off, came to an end following its cancellation.
However, while Daniela may not be stepping back into Kensi's role again, she still has a part in the NCIS universe, as director.
Daniela took to Instagram Monday and celebrated her latest NCIS milestone: directing her very first episode for its 21st season. She had previously announced the exciting move at the top of the month, writing on Instagram: "Here we go again! So excited to be directing an episode of #NCIS and #NCISHawaii this year! Stay tuned…"
Following her first shot at the director's chair, she shared a slew of behind-the-scenes photos featuring some of the beloved cast members, Wilmer Valderrama, Brian Dietzen, Sean Murray, and Gary Cole, among others.
"Special Agent Kensi Blye was first introduced on #NCIS, or as we lovingly call it… 'The Mothership,'" she first wrote in the caption, before adding: "Last week I wrapped my first directed episode on #NCIS in its season 21 (wow!) and I had an absolute blast."
She endearingly continued: "It felt like home, the cast and crew are spectacular…" and declared: "If you like them on TV, know that they are even more wonderful in real life."
MORE: NCIS fans in tears over glimpse at David McCallum's tribute episode in new season 21 trailer
MORE: NCIS references Mark Harmon in first look at long-awaited season 21 – but fans are conflicted
"Feeling nothing but gratitude…" she then wrote, and, teasing more to come from her as director, concluded with: "Feeling nothing but gratitude… Next on the books… NCIS HAWAII! See you soon!"
It wasn't long before fans went wild with excitement in the comments section under post over seeing her comeback, with one fan writing: "Obsessed!! I wish you so much success. Congratulations!" as others followed suit with: "Amazing. Can't wait to watch the episodes you directed," and: "I also like their team and I'm happy to see you direct them! Can't wait to see your work. So proud of you," as well as: "It's good to see you again. Maybe someday you will return as Kensi Blye in front of the camera. I miss you on TV."
MORE: NCIS star Brian Dietzen sparks major fan reaction with new season 21 photo
Daniela's NCIS episode will air in March, while her NCIS: Hawai'i episode will air in April. She told Deadline earlier this month: "Kensi was born as a character on NCIS, 15 years ago, so now to be able to step onto that set again, as a director, with that incredible cast and crew, is an absolute honor.
"So many familiar faces and people I love and they've welcomed me with open arms. It's like coming home."
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WELLINGTON - New Zealand on Jan 30 joined the list of countries that have suspended funding to the embattled UN Palestinian refugee agency following Israeli allegations that some staff members participated in the Oct 7 Hamas attack.
Prime Minister Christopher Luxon said New Zealand had paused funding to the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) until the allegations are investigated.
The agency has fired several staff members over Israel’s accusations and promised a thorough investigation into the claims, which were not specified. Israel has vowed to stop the agency’s work in Gaza after the war.
“The allegations are incredibly serious. It’s important they are properly understood and investigated,” Mr Luxon told reporters.
New Zealand will not “be making any further contributions” to UNRWA until foreign minister Winston Peters “says it’s good to do so”, Mr Luxon added.
The United States, Australia, the United Kingdom, Japan and Germany are among the other countries to have already suspended funding to UNRWA, which has been at the heart of humanitarian efforts in Gaza.
Mr Luxon said New Zealand had been providing UNRWA with about NZ$1 million (S$821,600) in yearly funding.
The European Union on Jan 29 demanded an “urgent” audit of the UN Palestinian refugee agency and is also reviewing funding. AFP
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SYDNEY – A shark mauled a woman as she swam in Sydney Harbour in a gory attack that left her in hospital with a “serious” leg injury, officials and media said on Jan 30.
The predator struck on Jan 29 evening as the woman swam off a wharf in Elizabeth Bay, less than 2km from the iconic Sydney Opera House, police said.
The woman suffered a “serious injury to her right leg”, New South Wales police said in a statement.
It was the first shark attack in Sydney Harbour since 2009, when an Australian navy diver fought off a bull shark that bit him in the arm and leg in Woolloomooloo Bay.
Neighbours rushed to help the Elizabeth Bay victim, the Sydney Morning Herald said, identifying her as Ms Lauren O’Neill, 29.
It quoted one resident, who said he had heard Ms O’Neill’s “soft yell” for help from his window.
“She was trying to climb in and behind her was her leg, which was completely open and full of dark red blood behind her,” resident Michael Porter was quoted as saying.
“It was surreal. We have always been worried and known about sharks in the harbour... it’s only now that it feels very real.”
A vet living nearby applied a tourniquet, the paper said.
“She swam out to a boat and on her way back, she got bitten by, I think it was, a bull shark,” another witness told local news outlet OnScene Bondi.
“We ran out. My wife’s a vet and she basically bandaged it up,” said the witness, who was not named.
Ms O’Neill was in stable condition and in intensive care at St Vincent’s hospital, a hospital spokesperson said.
She was expected to undergo surgery during the day.
In February 2002, 35-year-old British diving instructor Simon Nellis was devoured off Sydney’s ocean beach Little Bay, the first fatal attack in the city since 1963. AFP
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HONG KONG - China Evergrande Group’s liquidation order by a Hong Kong court cements the downfall of a company that exemplified the country’s real estate boom and bust. For global investors, what happens to the remnants will have implications far beyond one property developer.
Key is whether the Jan 29 ruling will be followed in mainland China, which has a separate legal system. While Evergrande’s shares and dollar bonds are traded in Hong Kong, the bulk of Evergrande’s US$242 billion (S$324 billion) of assets are located in the mainland.
Few expect the process to be straightforward - there is no precedent for a company the size of Evergrande to be wound up by a Hong Kong court and the firm has multiple units. Yet an unfavourable outcome for foreign investors risks exacerbating already acute pessimism toward China as well as undermining Hong Kong’s role as a vital fundraising center for the nation’s companies.
“International investors will be watching closely to see if mainland courts accept the Hong Kong court’s ruling,” said Kher Sheng Lee, Asia-Pacific co-head of Alternative Investment Management Association, whose hedge and private credit fund members collectively oversee more than US$3 trillion. “That could set an important precedent regarding Hong Kong’s ability to have its legal judgments enforced in China.”
The uncertainty underscores the growing concern among investors that their interests will always be secondary to those of the Communist Party. Abrupt crackdowns on private industry from property to tech have hammered stock valuations, along with concern over an economic slowdown. Last week, the Hang Seng China Enterprises Index of stocks in Hong Kong fell toward its lowest level since 2005.
Prices of Evergrande’s shares and bonds suggest holders have little faith in recovery. Its shares fell to 16 HK cents before they were halted on Jan 29, a fraction of its initial public offering price of HK$3.50 in 2009. Most of Evergrande’s dollar notes have been indicated at about 1.5 cents on the dollar, according to Bloomberg-compiled data.
Hong Kong’s insolvency proceedings have limited recognition in China, whose courts may also appoint administrators in their own jurisdictions.
“The liquidation order should have very limited immediate impact on Evergrande’s onshore operations or assets,” said Brock Silvers, managing director at private equity firm Kaiyuan Capital. “While the liquidator will likely be able to assert control over offshore assets, its authority won’t be recognized onshore.”
Chinese officials have also made it clear in the past they favor the completion of unfinished property projects and paying off contractors over creditor interests - a priority seemingly backed by Evergrande.
“The company has made all efforts possible and is sorry about the winding-up order,” Evergrande chief executive officer Shawn Siu said in a statement. “The company will ensure home deliveries and steadily promote normal operation of the group.” It will also communicate with the appointed liquidator, he said.
The rise and fall of Evergrande illustrates the central role Hong Kong has played in the development of China’s private enterprise. Chairman Hui Ka Yan founded Evergrande in 1996 in the nearby city of Guangzhou, but it was Hong Kong’s deep capital markets and access to international investors that supercharged the company’s growth.
In the decade after the company’s listing, its shares surged as much as 800 per cent to be among Asia’s hottest investments, while Chinese property junk debt - led by Evergrande - turned into one of the most profitable and popular corporate bond trades globally. Hui became one the world’s richest people.
After President Xi Jinping cracked down on leverage in the property market in 2021, Evergrande - with more than US$300 billion of liabilities - foundered. China’s junk bond market collapsed as investor confidence in the ability of firms to repay dwindled. Like many of its peers, Evergrande defaulted on its debt. Last year Hui was placed under police control on suspicion of committing crimes.
Regardless of how mainland courts respond, the liquidation - led by Alvarez & Marsal - will be a challenging process. Most Evergrande projects are operated by local units, making it difficult for the offshore liquidator to seize. More than 90 per cent of the company’s assets are located in mainland China, according to a court filing.
The winding up of Evergrande is uncharted waters, said Alternative Investment’s Mr Lee. “This will be a complex, multi-year process with many open questions.” BLOOMBERG
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Courts, not Govt, will decide use of new law to hold serious crime offenders indefinitely: Shanmugam
He said the period of continued incarceration will be assessed by a detention review board.
New sentencing regime draws mixed reactions from legal professionals
Asean ministers stay cautious despite Myanmar junta sending official to high-level meeting
Foreign Minister Vivian Balakrishnan described the talks with Myanmar as friendly, candid and constructive.
Singapore households continue to spend as inflation eases in 2023; credit card debt not a concern
Swiss man cuts off arm to escape bear attack in Chiang Mai
He used a pocket knife to sever his arm after the bear bit on it and refused to let go.
‘Who says Singapore is not politically mature?’: Janil Puthucheary
Young Singaporeans are interested and engaged, ask questions, attend grassroots events and offer their views, he said.
Keppel: Reinventing and reinvigorating its storied name
Keppel Ltd has shed its conglomerate clothes and successfully transformed itself into a global asset manager, says associate editor Ven Sreenivasan.
Europe’s rising fears as Trump marches towards the White House
A European army? Play the China card? Europe ponders its options in the event that Trump gets re-elected.
FAS fires head coach Takayuki Nishigaya after poor results
Tsutomu Ogura, a former Japan national team assistant coach, is expected to be his replacement.
Tunisia’s myriad worlds: Roman ruins and Mediterranean Sea, Arab spring and young influencers
The underrated North African country packs a punch with a diverse array of highlights.
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DOHA - Iraq’s football association condemned the “abhorrent behaviour” of journalists who confronted coach Jesus Casas following the team’s exit in the Asian Cup last 16 on Jan 29.
Iraq conceded two goals in stoppage time in a surprise 3-2 defeat to lower-ranked Jordan in Doha.
Tempers flared among some Iraqi reporters in the post-game press conference, who pointed and shouted angrily at Casas, and approached him at the front of the room before being ushered out by security.
“It pains me what happened,” the 50-year-old Spaniard, who has been Iraq coach since November 2022, said of the chaotic scenes.
Iraq’s football association released a statement in which it expressed its “great dismay” at the “scene that was more painful than the undeserved exit of our team”.
“We denounce the blatant and abhorrent behaviour that occurred against the coach,” it said, vowing “not to deal with these media personnel who seek to cause chaos”.
Casas was himself angered in Jan 28’s pre-match press conference by a question about interviews he has done with Spanish media during the Asian Cup.
Some journalists from Iraq, the country which won the Asian title in 2007, believe the interviews distracted him from his work and were partly to blame for the defeat.
Casas rubbished that notion, pointing out that his team had won all three of their group games, including beating pre-tournament favourites Japan 2-1.
“Concerning my future, I’m calm and our goal is to qualify for the 2026 World Cup,” Casas, a former assistant coach to Luis Enrique at Spain’s national side, said after the Jordan loss.
“Anything might happen and I’m very calm.” AFP
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YAMOUSSOUKRO - Moussa Niakhate missed his penalty in the shoot-out as holders Senegal tumbled out of the Africa Cup of Nations after a drama-filled 5-4 loss to hosts Ivory Coast following a 1-1 draw at the Charles Konan Banny Stadium in their last-16 clash on Jan 29.
Senegal were quick out the blocks and took the lead inside four minutes as Sadio Mane's cross from the left was chested down by Habib Diallo, whose thunderous shot from 10-yards settled in the top corner of the net.
Mane was fortunate not to get a red card shortly after that following a poor challenge, but Senegal could not add to their lead and paid the price when the Ivorians were awarded a clear penalty and equalised through Franck Kessie four minutes from the end of the 90 minutes.
Ivory Coast will now face the winner of Jan 30’s last-16 tie between Mali and Burkina Faso in the quarter-finals on Feb 3.
The Ivorians were in disarray just days ago. Hammered 4-0 in a record loss on home soil by Equatorial Guinea, they were on the verge of elimination and sacked coach Jean-Louis Gasset, replacing him with assistant Emerse Fae.
But a fortuitous set of results elsewhere saw them squeeze into the last-16 and they put up a much-improved display against a Senegal side that had won all three of their pool matches with relative ease.
"It's very emotional, the last few days were tough for us," Ivory Coast striker Sebastien Haller said. "We have opened the door and given ourselves a chance. We can forget now about what happened in the group stages."
The hosts were the better side on the night and might have wrapped things up before the need for penalties, but will simply be relieved to fight another day having avoided an embarrassing early exit from their own tournament.
Leading 1-0, Senegal thought they should have had a penalty in the second half when Ismaila Sarr went down in the box, but the match officials decided there was not enough contact to send him sprawling, much to the annoyance of coach Aliou Cisse. Mane also fired wide when he should have scored.
The Ivorians could have been level when Nicolas Pepe had a clear shot of goal but could not beat Edouard Mendy, before they were awarded a clear spot-kick on VAR review as the former was clattered in the box by the latter and Kessie buried his kick.
The game went to penalties and the unfortunate Niakhate missed his side’s third kick as he struck the post and the Ivorians held their nerve to secure a place in the quarter-finals. REUTERS
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BRUSSELS - European Union members agreed unanimously on Monday to set aside billions of euros of windfall profits from Russian central bank assets frozen in Europe, the first step of a plan to help fund Ukraine reconstruction after Russia's invasion.
Ambassadors of the 27 EU countries agreed in principle this first step in a meeting late on Monday, according to a source from Belgium, which holds the six-month presidency of the European Union.
The agreement comes days ahead of a summit at which EU leaders will seek to overcome Hungary's objections to giving Kyiv 50 billion euros of funds for the next four years.
The text will undergo legal and language checks before the ambassadors will have the chance formally to adopt it. The source said this would take place as soon as possible.
The European Commission would then be expected to propose transferring the money set aside to the EU budget and subsequently to Kyiv though it is unclear when it would arrive in Ukraine.
France and Germany have already voiced reservations about the plan, while the European Central Bank has warned it could undermine confidence in the euro and unsettle global markets.
The EU, United States, Japan and Canada froze some $300 billion of Russian central bank assets in 2022 when Russia invaded Ukraine. About $200 billion of that is held in Europe, mainly in the Belgian clearing house Euroclear. REUTERS
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ROME - Mass tourism has turned Florence into a “prostitute”, one of the city’s museum directors said on Jan 29, sparking outrage from politicians including Italy’s culture minister.
“Once a city becomes a prostitute, it is difficult for it to become a virgin again,” Ms Cecilie Hollberg, director of the Accademia Gallery that houses Michelangelo’s statue of David, told reporters on the sidelines of an event.
“Florence is very beautiful and I would like it to return to its citizens and not be crushed by tourism,” the German historian added, complaining about a lack of normal shops in streets filled with souvenirs.
But “it is already too late,” she said, according to La Repubblica daily, warning that if there was not an “absolute” brake on numbers, “I do not see any more hope”.
The Gallery later issued a statement in which Ms Hollberg apologised “for having used the wrong words” about “a city that I love”.
“What I meant to say is that Florence must be a witness for all of Italy of an increasingly conscious tourism, not ‘hit and run’ tourism,” she said.
But Culture Minister Gennaro Sangiuliano said her words were “serious and offensive” to Florence and the whole of Italy – and threatened to take action, saying he would “evaluate all appropriate initiatives” under current legislation.
Prime Minister Giorgia Meloni’s nationalist government has been accused of seeking to promote more Italians into top cultural roles, as well as more people sympathetic to her right-wing views.
In 2023, ministers approved a change that forces opera chiefs to leave their jobs when they reach 70 years old, a measure widely viewed as a way to remove some foreigners from their posts.
The deputy mayor of Florence, Ms Alessia Bettini, also weighed in against Ms Hollberg, saying that if the city was a prostitute, “are then Florentines the children of a prostitute, and tourists clients of a prostitute?“
Former premier Matteo Renzi, a senator for Florence, said Ms Hollberg “should apologise or resign”.
The gallery director is the latest official in Italy to express concern about the impact of overtourism, particularly in cities such as Florence – where the historic centre is packed with crowds for much of the year – and Venice.
After the UN’s cultural organisation warned it could lose its prized heritage status, Venice in 2023 announced plans to test a ticketing scheme to seek to control numbers, which begins in April. AFP
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GAZA STRIP, Palestinian Territories - Even the dead are not spared by the Hamas-Israel war raging in Gaza, with bodies dug up by Israeli troops and hurried burials happening in hospitals and even a school.
In Gaza City’s Al-Tuffah district, shrouded corpses of Palestinians torn from their graves lay atop muddied earth.
Israel’s military had bulldozed the site and exhumed bodies, according to an AFP photographer who visited it earlier January.
The desecration is part of a pattern which the religious affairs ministry in the Hamas-run Gaza Strip said has seen more than 2,000 graves damaged or destroyed by Israeli forces across the territory.
The Israeli military told AFP it “in no way targets cemeteries as such, and has no policy of harming or desecrating cemeteries”.
However, it said that “cemeteries or specific gravesites, like other civilian sites or structures, can come to be damaged” during the war.
Responding separately to allegations that soldiers have snatched bodies from graves, the military told AFP it acts “in the specific locations where information indicates that the bodies of hostages may be located”.
“Bodies determined not (to) be those of hostages are returned with dignity and respect,” it said in a statement.
The war erupted with the Oct 7 Hamas attack which resulted in about 1,140 deaths, mostly civilians, in southern Israel, according to an AFP tally of official figures.
Militants also seized 250 hostages, of whom Israel says around 132 remain in Gaza, including the bodies of at least 28.
Israel’s relentless military offensive has killed at least 26,637 people in Gaza, most of them women and children, according to the Hamas government’s health ministry in the territory.
At a school packed with displaced people in the central Deir al-Balah area, Ms Saida Jaber recalled seeing footage on social media of Jabalia refugee camp’s destroyed cemetery.
“I felt that my heart would stop,” Ms Jaber told AFP, adding that her father, grandparents and other relatives were buried at the site in northern Gaza.
“I felt that their souls trembled... I can’t imagine how anyone dares to dig up graves and violate the sanctity of the dead,” Ms Jaber said.
With no stop to the fighting, many Gazans have been unable to reach formal cemeteries and have instead turned to makeshift graveyards.
At a school-turned-shelter in the central Maghazi refugee camp, a woman touched the sandy earth where her daughter had been buried in the yard.
“My daughter died in my arms... we waited day and night and couldn’t send her to the emergency room,” said the woman, who did not give her name.
She told AFP that rockets hit the school compound and ignited gas canisters, causing deadly explosions.
A man tending to the site said more than 50 people are buried there, each grave containing three or four bodies, with their names written either on bricks or the adjacent wall.
‘Die of grief’
The scale of fatalities is such that AFP journalists have seen mass graves across Gaza.
They include rows of bodies buried in the grounds of Gaza’s largest hospital, Al-Shifa, where people have separated graves with stones and plant branches.
“If we went to the cemetery, they (Israel) might bomb us and we’d die,” said Mr Arfan Dadar, 46, living in a tent with his family in the hospital compound.
Mr Dadar said Israeli soldiers shot dead his 22-year-old son while he was returning to the hospital in Gaza City.
“I marked his grave, (but) now the hospital park is crammed with mass graves. I barely recognise my son’s grave,” he said.
Gazans have said they hope they can move their dead once the war ends.
Mr Wael al-Dahdouh, Al Jazeera’s Gaza bureau chief, said he had “no choice” but to bury his son in an overcrowded cemetery in southern Rafah, after the young journalist was killed in an Israeli strike.
“We will transfer him to the martyrs cemetery in Gaza (City) after the end of the war. We want his grave to be near to us, so that we can visit him and pray for him,” said Mr Dahdouh.
Displaced in Deir al-Balah, Ms Jaber said she longed to return to Jabalia to check on the graves of her relatives.
“I will die of grief if they were also swept away,” she said. AFP
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https://www.straitstimes.com/world/middle-east/no-rest-for-gaza-dead-with-swift-burials-bodies-dug-up
| 2024-01-30T01:00:15Z
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BAGHDAD - The U.S. believes the attack that killed three U.S. troops on the Jordanian-Syrian border has the "footprints" of Iran-backed Iraqi militia Kataib Hezbollah, the Pentagon said.
Who is the Kataib Hezbollah?
- Founded in the aftermath of the 2003 U.S.-led invasion of Iraq, Kataib Hezbollah is one of the elite Iraqi armed factions closest to Iran.
- It is the most powerful armed faction in the Islamic Resistance in Iraq, an umbrella group of hardline Shi'ite armed groups that have claimed more than 150 attacks on U.S. forces since the Gaza war began.
- After its founding, the group quickly developed a reputation for deadly attacks against military and diplomatic targets in the 2000s, using a mixture of sniper, rocket and mortar attacks and roadside bombs.
It does not openly confirm or deny involvement.
The U.S. designated it as a terrorist organization in 2009.
- It was led by dual Iraqi-Iranian citizen Abu Mahdi al-Muhandis until he was killed in a U.S. drone strike in 2020 along with Iranian Quds Force commander Qassem Soleimani at Baghdad's international airport.
- The group has a translational Shi'ite ideology that views the borders between Iraq, Syria and Lebanon as Western constructs. It views U.S. troops in Iraq as foreign occupiers and has called for their forceful expulsion.
- It fought alongside other Shi'ite militias against mostly Sunni rebels during Syria's civil war and has continued to operate in Syria since.
- A shadowy group with no announced leadership structure, Kataib Hezbollah has thousands of fighters and an arsenal of drones, rockets and short-range ballistic missiles, Iraqi officials and members of the group say.
- The U.S. has struck Kataib Hezbollah positions, bases and training and logistics hubs several times over the years.
On Jan. 24, it struck several targets in Kataib Hezbollah's stronghold in Jurf Al-Sakhar some 50 kilometres south of Baghdad in retaliation for drone and missile attacks.
- It forms several battalions in Iraq's Popular Mobilization Forces (PMF), a grouping of armed factions originally set up to fight Islamic State in 2014 that was subsequently recognised as an official security force.
Fighters receive state salaries and Kataib Hezbollah members, including some designated terrorists by the U.S., hold senior positions in the PMF.
While it is technically under the command of Iraq's prime minister as part of the PMF, the group often operates outside the chain of command and has defied and challenged government statements calling for an end to attacks on U.S. forces.
- Though it does not publicly confirm or deny links, the group is widely seen to have fielded a political party for the first time in 2021 elections, winning several seats in parliament. REUTERS
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https://www.straitstimes.com/world/middle-east/who-is-kataib-hezbollah-the-group-blamed-for-killing-us-troops
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WASHINGTON - US Secretary of State Antony Blinken warned on Jan 29 that Ukraine’s gains over two years of fighting were all in doubt without new US funding, as Nato’s chief visited to lobby Congress.
Tens of billions of dollars in US aid has been sent to Ukraine since the invasion in February 2022, but Republican lawmakers have grown reluctant to keep supporting Kyiv, saying it lacks a clear end game as the fighting against President Vladimir Putin’s forces grinds on.
As Nato Secretary-General Jens Stoltenberg made the case on a visit to Washington, Mr Blinken offered an increasingly dire picture of Ukraine’s prospects without US approval of the so-called supplemental funding.
“Without it, simply put, everything that Ukrainians achieved and that we’ve helped them achieve will be in jeopardy,” Mr Blinken told a joint news conference with Mr Stoltenberg.
“Absent that supplemental, we’re going to be sending a strong and wrong message to all of our adversaries that we are not serious about the defense of freedom, the defense of democracy,” he said.
“It will simply reinforce for Vladimir Putin that he can somehow outlast Ukraine and outlast us,” he said.
President Joe Biden has asked Congress to approve US$61 billion (S$81.73 billion) in new aid to Ukraine.
But the talks have bogged down as Republican lawmakers – furious over record flows of migrants over the US border with Mexico – demand major changes in immigration and border control policy in exchange for approving more money for Ukraine.
Mr Stoltenberg said he would meet US lawmakers on Jan 30 and make the case that support for Ukraine was “in our own security interest.”
“It will be a tragedy for Ukrainians if President Putin wins but it will also make the world more dangerous and all of us more insecure,” Mr Stoltenberg said.
“It will embolden other authoritarian leaders – not only President Putin, but also North Korea, Iran and China to use force,” he said.
With many Republicans focused on opposing China, Mr Stoltenberg said: “Today it’s Ukraine; tomorrow it could be Taiwan.”
US and Nato officials have acknowledged limited gains in a counteroffensive launched by Ukraine in 2023.
But Mr Stoltenberg said that Ukrainians in the longer term have defied expectations, taking back half of the territory seized by Russia, which had expected a swift takeover.
“This idea that it doesn’t help to help them – actually, the Ukrainians have proved the opposite,” Mr Stoltenberg said.
Mr Stoltenberg earlier met at the Pentagon with Defence Secretary Lloyd Austin and top US military officer General Charles “CQ” Brown and later at the White House with Mr Jake Sullivan, Mr Biden’s national security advisor.
He also appeared on Fox News, a favourite network of Republicans, and made the case that US weapons help US workers as they are made in the United States.
Donald Trump, the likely Republican candidate in the November presidential election, and who has often praised Mr Putin, is urging Republican lawmakers to reject the immigration accord being negotiated in Congress – which would also torpedo aid for Ukraine.
Sweden expected in Nato soon
Mr Stoltenberg visited after Turkey gave its long-awaited green-light for Sweden to enter Nato.
Hungary, led by nationalist Viktor Orban, is the remaining holdout but both Mr Blinken and Mr Stoltenberg expected approval soon.
Mr Stoltenberg said Mr Orban told him that the Hungarian Parliament will reconvene at the end of February.
“I expect also in line with what he said that the Parliament will then finalise ratification shortly after that,” Mr Stoltenberg said.
Sweden and Finland – which joined Nato last year – had once hesitated to enter the alliance for fear of antagonising Russia, but switched gears after the invasion of Ukraine, which has unsuccessfully sought membership.
Turkey extracted concessions from Sweden on Kurdish militants in the country and US approval of a US$23 billion sale of 40 F-16 warplanes – announced at the same time as a deal for more advanced F-35 jets for Turkey’s historic rival Greece, also a Nato member. AFP
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https://www.straitstimes.com/world/united-states/meeting-nato-blinken-warns-ukraine-gains-in-doubt-if-no-us-aid
| 2024-01-30T01:00:36Z
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SAN FRANCISCO - Mr Elon Musk on Jan 30 said his Neuralink startup had installed a brain implant in its first human patient, with “promising” initial results.
The neurotechnology company co-founded by Mr Musk in 2016 aims to build direct communication channels between the brain and computers.
The ambition is to supercharge human capabilities, treat neurological disorders like ALS or Parkinson’s, and maybe one day achieve a symbiotic relationship between humans and artificial intelligence.
“The first human received an implant from Neuralink yesterday and is recovering well,” Mr Musk said in a post on X, formerly Twitter.
“Initial results show promising neuron spike detection,” he added.
The start-up in 2023 said it won approval from US regulators to test its brain implants in people.
Neuralink’s technology will mainly work through an implant called the “Link” – a device about the size of five stacked coins that is placed inside the human brain through invasive surgery.
According to data company Pitchbook, California-based Neuralink had more than 400 employees and has raised at least US$363 million (S$486.31 million).
Though he wins most of the headlines, Mr Musk is hardly alone in trying to make advances in the field, which is officially known as brain-machine or brain-computer interface research.
Hit with delays, the tycoon had reportedly reached out to join forces with implant developer Synchron about a potential investment.
Unlike Neuralink’s Link, its implant version does not require cutting into the skull to install it.
The Australia-based Synchron implanted its first device in a US patient in July 2022. AFP
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https://www.straitstimes.com/world/united-states/musk-says-neuralink-installs-brain-implant-in-first-patient
| 2024-01-30T01:00:47Z
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Three U.S. troops were killed and dozens wounded after a drone hit a military outpost in Jordan known as Tower 22.
Here is what is known about the base:
LOCATION
Tower 22 holds a strategically important location in Jordan, at the most northeastern point where the country's borders meet Syria and Iraq.
PURPOSE
Little is publicly known about the base. But it includes logistics support and there are 350 U.S. Army and Air Force troops at the base.
Tower 22 is near Al Tanf garrison, which is located across the border in Syria, and which houses a small number of U.S. troops. Tanf had been key in the fight against Islamic State and has assumed a role as part of a U.S. strategy to contain Iran's military build-up in eastern Syria.
Tower 22 is located close enough to U.S. troops at Tanf that it could potentially help support them, while also potentially countering Iran-backed militants in the area and allowing troops to keep an eye on remnants of Islamic State in the region.
U.S. TROOPS IN JORDAN
Jordan's army is one of the largest recipients of Washington's foreign military financing.
The kingdom has hundreds of U.S. trainers and is one of the few regional allies that hold extensive exercises with U.S. troops throughout the year.
Since the start of the Syrian conflict in 2011, Washington has spent hundreds of millions of dollars to help Amman set up an elaborate surveillance system known as the Border Security Programme to stem infiltration by militants from Syria and Iraq.
MANY UNKNOWNS
It is unclear what type of weapons are kept at the base, air defenses used, and what exactly went wrong. REUTERS
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https://www.straitstimes.com/world/what-is-tower-22-site-of-the-attack-on-us-troops-in-jordan
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“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” – William O’Neil
It’s been a solid start to the New Year for investors, with all three major U.S. indices well in positive territory for the month of January. We’re heading into the final trading week with the S&P 500 advancing 2.54%, the Nasdaq gaining 2.96%, while the Dow is up 1.11% as of this past Friday’s close.
The multi-month rally off the 2023 October lows has yet to run its course. Both the S&P 500 and Dow Jones Industrial Average notched new all-time highs last week. The Nasdaq hasn’t yet eclipsed its former high, but remains less than 4% away from the pivotal level.
There’s something about buying at record highs that just doesn’t sit well with most investors. Behavioral biases lead them to believe that they can likely buy at cheaper prices in the future. But as we’ll see, new highs have historically been a great time to purchase stocks. And while we certainly can’t guarantee that will be the case this time around, there’s plenty of reasons to suspect we’re in the early innings of a new bull market.
Bull Markets Last Longer Than Bear Markets
It took more than two years for the S&P 500 (SPY - Free Report) to eclipse the highs from January 2022. New highs should be viewed as a sign of strength; it means that stocks are ultimately surpassing levels that met former resistance, and a breakthrough of those levels normally ushers in additional buying pressure.
Image Source: StockCharts
We’re starting to see this now as volume was above-average over the past week, a good sign that the momentum can be sustained. As a general rule, volume flow usually precedes price movement.
Dating back to the 1950s, once those former highs were put in the rearview mirror, bull markets have lasted an average of another 4.5 years. This overlooked fact suggests the potential for more gains ahead that could be substantial. Investors normally underestimate the length and magnitude of bull markets.
In the past, when we’ve eclipsed a new high in the S&P 500 after at least one year (it was more than 2 years this time around), the index performance a year later averages a +14% return and has been higher 93% of the time:
Image Source: Zacks Investment Research
Economic Data Surprises to the Upside
A preliminary estimate of fourth-quarter GDP (released last week) showed that the economy grew at an annualized pace of 3.3% during the period, much faster than the median 2% projection. It’s another data point that suggests consumers ended the year on a strong note. Consumer spending expanded at a 2.8% annual rate; remember, consumer spending accounts for about 70% of U.S. GDP.
Despite the impressive Q4 GDP growth, inflation remained tame. The Fed’s primary inflation gauge (core PCE) rose at a 2% annual rate in the fourth quarter, matching expectations. Markets are expecting rate cuts this year, and the decelerating inflation trend is providing the Fed with ammunition to do just that.
Investors tend to associate rate cuts with a weak outlook and future problems with the economy, but once again, history shows that rate cuts have been good for stocks on average. In the span of over a century, the Dow has rallied an average of 14.4% over the next 12 months following the first rate cut. Perhaps this time around, the economy is on sound footing and the Fed believes the worst of the inflation issue is behind us.
The Fed will conduct its first policy meeting of the year on Tuesday and Wednesday of this week. They’ll hold rates steady (markets are currently pricing in a 98% probability), but a March rate cut is more likely (48%).
Positive Seasonality Supportive of Stocks
We remain the midst of the best 6-month stretch from a seasonality perspective that spans from November through April. This year is also an election year, which is the 2nd best year of the Presidential Cycle. Stocks typically do well in election years, particularly under new Presidents. The S&P 500 has averaged a 12.2% return during election years when a new President has been in office:
Image Source: Zacks Investment Research
Presidential incumbency is an influential phenomenon and considered to be a driving force behind the 4-year Presidential Election Cycle. Dating back to 1950, the S&P 500 is up more than 12% on average in election years when a sitting President is running for re-election, versus about 7% in all election years. When there is an open field (meaning years with no incumbent running for a second term), the S&P 500 has averaged a -1.5% loss.
Adding to the bullish case, in cycles where we’ve experienced negative midterm years (as was the case in 2022), we’ve never had a lower election year since 1950. When midterm years are negative, election years rise 13.2% on average and tend to follow strong pre-election years (which did occur last year).
Bottom Line
Investors would do well to fight the natural wariness of buying new highs, as history shows this is an excellent time to purchase stocks. Backed by a resilient economy and positive seasonality, a new bull market is underway with the potential for significant advancement in the coming months and years.
The Q4 earnings season continues to heat up with some major companies reporting this week including tech titans Apple, Microsoft, Facebook-parent Meta Platforms, Google-parent Alphabet, and Amazon. Make sure you’re taking full advantage of all that Zacks has to offer as we wrap up the first month of the New Year.
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https://www.zacks.com/commentary/2216751/the-smart-money-is-buying-all-time-highs---and-why-you-should-too
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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, January 29:
Western Digital Corporation (WDC - Free Report) : This data storage company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 26.5% over the last 60 days.
Western Digital's shares gained 39.4% over the last three months compared with the S&P 500’s advance of 17.6%. The company possesses a Momentum Score of A.
QCR Holdings, Inc. (QCRH - Free Report) : This multi-bank holding company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days.
QCR Holdings' shares gained 28.9% over the last three months compared with the S&P 500’s advance of 17.6%. The company possesses a Momentum Score of A.
Sandy Spring Bancorp, Inc. (SASR - Free Report) : This bank holding company for Sandy Spring Bank has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 12.7% over the last 60 days.
Sandy Spring Bancorp's shares gained 27.3% over the last three months compared with the S&P 500’s advance of 17.6%. The company possesses a Momentum Score of A.
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated here.
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https://www.zacks.com/commentary/2216760/best-momentum-stocks-to-buy-for-january-29th
| 2024-01-30T01:47:46Z
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Stocks hitting their 52-week high and delivering consistent performance offer attractive opportunities to investors while building a portfolio. This is because stocks near that level are perceived to be winners. However, stocks touching a new 52-week high are often predisposed to profit-taking, resulting in pullbacks and trend reversals.
Moreover, given the high price, investors often wonder if the stock is overpriced. While the speculations are not absolutely baseless, all stocks hitting a 52-week high are not necessarily overpriced.
In fact, investors might lose out on top gainers in an attempt to avoid the steep prices.
Stocks such as The Goodyear Tire & Rubber Company (GT - Free Report) , Casey's General Stores (CASY - Free Report) , Synovus Financial (SNV - Free Report) , Arch Resources (ARCH - Free Report) and The Bank of New York Mellon (BK - Free Report) are expected to maintain their momentum and keep scaling new highs. Extensive information on a stock is necessary to understand whether or not there is scope for further upside.
Here, we discuss a strategy to find the right stocks. The strategy borrows from the basics of momentum investing. This technique bets on “buy high, sell higher.”
52-Week High: A Good Indicator
Many times, stocks that hit a 52-week high fail to scale higher despite having potential. This is because investors fear that the stocks are overvalued and expect the price to crash.
In fact, overvaluation is natural for most of these stocks as investors’ focus (or willingness to pay a premium) has helped them reach the level. But that does not always indicate an impending decline. Factors such as robust sales, surging profit levels, earnings growth prospects and strategic acquisitions that encouraged investors to bet on these stocks could keep them motivated if there is no tangible negative. In other words, the momentum might continue.
Also, when a string of positive developments dominates the market, investors find their under-reaction unwarranted, even if there are no company-specific driving forces.
Setting the Right Filters
We ran a screen to zero in on 52-week high stocks (trading near the high level) that hold tremendous upside potential. The screen includes parameters to shortlist stocks with strong earnings growth expectations, sturdy value metrics and price momentum.
Moreover, the screen filters stocks that are relatively undervalued compared to their peers in terms of earnings as well as sales, ensuring the continuation of their rally for some time.
Current Price/52 Week High >= .8
This is the ratio between the current price and the highest price at which the stock has traded in the past 52 weeks. A value greater than 0.11 implies that the stock is trading within 20% of its 52-week high range.
% Change Price – 4 Weeks > 0
It ensures that the stock price has moved north over the past four weeks.
% Change Price – 12 Weeks > 0
This metric guarantees a continued upward price momentum for the stock over the past three months as well.
Price/Sales <= XIndMed
The lower, the better.
P/E using F(1) Estimate <= XIndMed
This metric measures the amount an investor puts into a company to obtain one dollar of earnings. It narrows down the list of stocks to those that are undervalued compared to the industry.
One-Year EPS Growth F(1)/F(0) >= XIndMed
This helps choose stocks that have higher growth rates than the industry. This is a meaningful indicator, as decent earnings growth adds to investor optimism.
Zacks Rank =1
No screening is complete without the Zacks Rank, which has proved its worth since its inception. It is a fundamental truth that stocks with a Zacks Rank #1 (Strong Buy) have always managed to brave adversities and beat the market average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Current Price >= 8
This parameter will help screen stocks that are trading at $8 or higher.
Volume – 20 days (shares) >= 100000
The inclusion of this metric ensures that there is a substantial volume of shares, so trading is easier.
Here are five stocks of the 11 that made it through the screen:
The Goodyear Tire & Rubber Company is one of the largest tire manufacturing companies in the world. In addition to selling tires, Goodyear provides other rubber-related chemicals while also offering repair and other services.
With the acquisition of Cooper Tire, Goodyear has strengthened its leadership position in the U.S. market as well as expanded its foothold in the global tire industry. The Goodyear Forward plan, designed to optimize portfolio, enhance margins and reduce leverage, aims to unlock significant value for shareholders. Encouragingly, Goodyear expects operating margins to double by 2025-end. The company's electrification strides also augur well.
The Zacks Consensus Estimate for GT’s 2023 earnings has gained 40% in the past 30 days to 7 cents per share. The company surpassed the Zacks Consensus Estimate once in the trailing four quarters while missing the same thrice, the average surprise being 76.39%.
Casey's General Stores operates convenience stores under the Casey's and Casey's General Store names in 16 states, mainly Iowa, Missouri and Illinois. Casey's offers a comprehensive range of products and services to meet the needs of its customers. In addition to fuel, the stores provide a wide variety of merchandise, including groceries, prepared food, snacks, beverages, tobacco products, health and beauty aids, school supplies, housewares, pet supplies and automotive supplies.
The company’s business operating model, omnichannel capabilities, enhanced customer reach and private-label offerings reinforce its position in the industry. Casey's price and product optimization strategies, increased penetration of private brands, and digital engagements are also commendable. The company’s focus on inventory management, technology advancements and data analytics positions it well for future growth.
The Zacks Consensus Estimate for CASY’s fiscal 2024 earnings has increased 1% to $12.64 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate thrice in the trailing four quarters while missing the same once, the average surprise being 17.79%.
Synovus Financial is a diverse financial services company, which conducts its banking operations through Synovus Bank. Synovus’ organic growth is supported by its relationship banking model. Loans and deposits witnessed a compound annual growth rate of 5.5% and 8.8%, respectively, in the last three years (2019-2022).
Its deposits are well diversified across industries and geographies in Southeast regions. Also, the company’s floating-rate loan portfolio is well positioned in the current high interest-rate regime.
The Zacks Consensus Estimate for SNV’s 2024 earnings has increased 5.5% to $4.03 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate twice in the trailing four quarters while missing the same twice, the average surprise being 1.61%.
Arch Resources is one of the largest coal producers in the United States, operating nine mines across the major coal basins of the country. The company mainly produces and sells metallurgical and thermal coal. The locations of its mines and access to export facilities enable the company to ship coal worldwide.
The company commenced longwall production at the Leer South mine, which will add 3 million tons of high-quality metallurgical coal annually to its total production. The ongoing rebound in production in the steel industry will create fresh demand for met coal supplied by the company.
The Zacks Consensus Estimate for ARCH’s 2023 earnings has increased 4.7% to $27.88 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate twice in the trailing four quarters while missing the same twice, the average surprise being 24.45%.
The Bank of New York Mellon (popularly known as BNY Mellon) is a financial services company that has been in business since 1784. Its global client base consists of financial institutions, corporations, government agencies, endowments and foundations, and high-net-worth individuals.
Higher interest rates are expected to support BNY Mellon’s top-line growth in the near term. Also, global expansion initiatives, robust assets under management balance, business restructuring efforts, solid balance sheet and digitization of operations have aided performance.
The Zacks Consensus Estimate for BK’s 2024 earnings has increased 4.2% to $5.16 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 10.62%.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and back testing software.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your trial to the Research Wizard today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance
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Synovus Financial Corp. (SNV) - free report >>
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The Goodyear Tire & Rubber Company (GT) - free report >>
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https://www.zacks.com/stock/news/2216859/5-stocks-trading-near-52-week-high-that-can-climb-further
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At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.18% per year. These returns cover a period from January 1, 1988 through January 1, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
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https://www.zacks.com/stock/news/2216864/focus-list-for-week-of-january-22
| 2024-01-30T01:49:06Z
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The overall earnings for the semiconductor industry this earnings season is expected to be better than the year-ago quarter. After a challenging period marked by economic headwinds and disruptions in the supply chain, semiconductor stocks appear to be on the brink of a significant comeback, fueled by a steady increase in sales.
The semiconductor market grappled with challenges arising from pandemic-induced disruptions in the supply chain and the Federal Reserve's stringent monetary policies, which subdued demand and led to a decline in sales. However, with the easing of inflationary pressures and a gradual recovery in demand, the industry has been on an upward trajectory since the second quarter of 2023.
The advent of generative AI has further attracted investments. The technology has already proven beneficial across a variety of industries, including marketing, advertising, customer service, education, content creation, healthcare, automotive, energy and utilities and video game development.
The growing proliferation of generative AI has boosted the demand for chips, benefiting semiconductor sales. According to the latest data released by the Semiconductor Industry Association, global semiconductor sales grew 5.3% to $48 billion in November 2023, marking the first year-over-year increase since August 2022. This year-over-year rise also came after eight consecutive months of sequential growth, signifying a strong recovery.
How to Make the Right Choice?
With the presence of several industry participants, finding the right tech stocks with the potential to beat on earnings can be daunting. However, our proprietary methodology makes this task fairly simple.
You could narrow down your choices by looking at stocks that have the perfect combination of two key elements — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
Earnings ESP is our proprietary methodology for determining stocks that have maximum chances of beating estimates in their next earnings announcement. It is the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our research shows that for stocks with this favorable mix of ingredients, the odds of a positive earnings surprise are as high as 70%.
4 Semiconductor Stocks That Match the Criteria
Silicon Motion Technology (SIMO - Free Report) has an Earnings ESP of +4.92% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to report its fourth-quarter 2023 results on Feb 6. The Zacks Consensus Estimate for earnings has increased 5 cents upward to 76 cents per share over the past 30 days.
NVIDIA Corporation (NVDA - Free Report) has an Earnings ESP of +3.68% and currently has a Zacks Rank of 2.
The company is scheduled to report its fourth-quarter fiscal 2024 results on Feb 21. The Zacks Consensus Estimate for earnings has increased by a penny to $4.49 per share over the past 30 days.
Allegro MicroSystems (ALGM - Free Report) currently has an Earnings ESP of +1.16% and a Zacks Rank #3.
The company is set to report third-quarter fiscal 2024 results on Feb 1. The consensus mark for earnings has been steady at 29 cents per share over the past 60 days.
Ambarella (AMBA - Free Report) is expected to report fourth-quarter fiscal 2024 results on Feb 27. The company has an Earnings ESP of +0.60% and a Zacks Rank of 3.
The consensus estimate for the bottom line is pegged at a loss of 33 cents per share, 5 cents narrower than the loss of 38 cents expected 60 days ago.
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https://www.zacks.com/stock/news/2216877/4-semiconductor-stocks-poised-to-beat-estimates-this-earnings
| 2024-01-30T01:49:50Z
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One of the largest and most well-known asset management stocks — BlackRock (BLK - Free Report) — kicked off fourth-quarter earnings on Jan 12. In a challenging operating environment, BLK handily surpassed the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) balance more than offset a rise in total expenses. In an effort to capitalize on an accelerating demand for infrastructure investment, it announced an agreement to acquire Global Infrastructure Partners for $3 billion in cash and around 12 million shares of BlackRock common stock.
In the fourth quarter of 2023, the industry players continued to face a challenging operating backdrop, though, in the later part of the quarter, some clarity on the Federal Reserve’s interest rate path offered support. We are using our proprietary methodology to find stocks that are poised to outpace the Zacks Consensus Estimate in the fourth quarter. By using the Zacks Stock Screener, we have identified three such asset management stocks — SEI Investments Company (SEIC - Free Report) , T. Rowe Price Group, Inc. (TROW - Free Report) and Principal Financial Group, Inc. (PFG - Free Report) .
These stocks have the ideal combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — to surpass expectations. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our proprietary methodology, Earnings ESP, shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Research shows that for stocks with this combination of rank and ESP, chances of a positive earnings surprise are as high as 70%.
Before we go into the details regarding the abovementioned asset managers, let’s first understand the factors that are likely to have influenced quarterly performance.
The performance of equity markets during the fourth quarter was robust. The S&P 500 Index gained 11.2% in the quarter, driven by the central bank’s signal of no further hike in rates this cycle, three interest rate cuts in 2024 and fading near-term recession risks. Thus, the market value of assets witnessed a rise, supporting performance fees.
Further, as the U.S. dollar lost some value, FX favorably impacted the asset managers’ performance. All these supported the asset price and also resulted in net inflows.
On the cost front, as asset managers continue to optimize operations through digital initiatives, expenses are likely to have been manageable. However, fears of an economic slowdown are likely to have driven cost-cutting measures among many industry players, which might have led to one-time restructuring expenses.
Q4 Earnings Expectations
The Zacks Finance sector’s (of which asset management is part) earnings are projected to rise 9.9% year over year in the fourth quarter. This compares with the 9.7% increase recorded in the third quarter of 2023.
(For a detailed look at the earnings growth projections for this sector and others, please read our Earnings Preview.)
3 Potential Safe Bets
SEI Investments, based in Oaks, PA, is a leading provider of wealth management business solutions in the financial services industry. The company offers investment processing, management and operations solutions globally.
Similar to other industry players, SEIC is likely to have benefited from solid equity market performance in the to-be-reported quarter. This is likely to have aided the company’s inflows and AUM balance.
SEI Investments is scheduled to announce results on Jan 31 after market close. The Zacks Consensus Estimate for its fourth-quarter earnings of 91 cents per share implies a rise of 9.6% from the year-ago reported figure. SEIC has an Earnings ESP of +0.64% and a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
T. Rowe Price, based in Baltimore, is a global investment management organization that provides a broad array of mutual funds, sub-advisory services and separate account management for individual and institutional investors, retirement plans and financial intermediaries.
TROW continues to focus on fortifying its business by enhancing investment capabilities, broadening distribution reach and investing in new product offerings, which will support revenue growth. The company reported a Dec 31, 2023 preliminary AUM balance of $1.45 trillion. Though it has improved on a year-over-year basis, the company recorded preliminary net outflows of $28.3 billion during the fourth quarter. Thus, this is likely to have marred the company’s performance fee to some extent.
T. Rowe Price is slated to announce results on Feb 8 before market open. The Zacks Consensus Estimate for the company’s fourth-quarter earnings is pegged at $1.60, implying a fall of 8.1% year over year. TROW has an Earnings ESP of +1.33% and a Zacks Rank #3.
Des Moines, Iowa-based Principal Financial is a leader in global investment management, offering a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies.
PFG’s operations capitalize on the extensive distribution footprint, best-in-class solutions, strategic buyouts and operational discipline. As the uncertainty over the macroeconomic backdrop was over, the performance of equity markets improved in the fourth quarter of 2023. Thus, like other industry players, the company is likely to have witnessed improvement in the inflow and a rise in the AUM balance.
Principal Financial is scheduled to announce fourth-quarter and full-year 2023 numbers on Feb 12 after the closing bell. The Zacks Consensus Estimate for fourth-quarter earnings of $1.70 indicates no change from the prior-year quarter. PFG has an Earnings ESP of +2.00% and a Zacks Rank #3.
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https://www.zacks.com/stock/news/2216896/3-asset-management-stocks-set-to-pull-off-earnings-beat-in-q4
| 2024-01-30T01:50:15Z
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It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.
The easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.
Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.
MassMutual Select Small Cap Growth Equity A (MMGEX - Free Report) : 1.42% expense ratio and 0.8% management fee. MMGEX is a Small Cap Growth mutual fund building their portfolio around stocks with market caps under $2 billion and large growth opportunities. With annual returns of 12.14% over the last five years, this fund is a winner.
MainStay Large Cap Growth Investor (MLINX - Free Report) . Expense ratio: 1.21%. Management fee: 0.61%. MLINX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. This fund has managed to produce a robust 17.25% over the last five years.
T. Rowe Price Value Adviser (PAVLX - Free Report) : 0.94% expense ratio and 0.56% management fee. PAVLX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. With a five-year annual return of 12.2%, this fund is a well-diversified fund with a long track record of success.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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https://www.zacks.com/stock/news/2216897/3-top-ranked-mutual-funds-for-your-retirement
| 2024-01-30T01:50:21Z
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There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.
How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.
Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.
If you are looking to diversify your portfolio, consider AQR Global Equity Fund N (AQGNX - Free Report) . AQGNX is a Global - Equity mutual fund investing in bigger markets like the U.S., Europe, and Japan; these kinds of funds aren't limited by geography. This fund is a winner, boasting an expense ratio of 1.05%, management fee of 0.6%, and a five-year annualized return track record of 10.51%.
AB Equity Income Z (AUIZX - Free Report) : 0.69% expense ratio and 0.55% management fee. AUIZX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. AUIZX, with annual returns of 12.6% over the last five years, is a well-diversified fund with a long track record of success.
Principal EDGE Midcap Instl (PEDGX - Free Report) : 0.77% expense ratio and 0.65% management fee. PEDGX is a Mid Cap Blend mutual fund, and usually features a portfolio with stocks of various styles and sizes, allowing for diversification within a strategy that focuses on mid cap companies. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 12.29% over the last five years.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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AB Equity Income Z (AUIZX) - free report >>
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https://www.zacks.com/stock/news/2216898/are-these-3-top-ranked-mutual-funds-in-your-retirement-portfolio?
| 2024-01-30T01:50:27Z
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There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.
How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.
Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.
If you are looking to diversify your portfolio, consider American Century Small Cap Value R6 (ASVDX - Free Report) . ASVDX is a Small Cap Value fund, and these funds are known for investing in companies with market caps under $2 billion. This fund is a winner, boasting an expense ratio of 0.74%, management fee of 0.73%, and a five-year annualized return track record of 15%.
Voya Mid Cap Opportunities Portfolio S (ISMOX - Free Report) : 0.91% expense ratio and 0.79% management fee. ISMOX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. ISMOX, with annual returns of 13.42% over the last five years, is a well-diversified fund with a long track record of success.
Transamerica Large Cap Value I2 (TWQZX - Free Report) : 0.63% expense ratio and 0.58% management fee. TWQZX is a part of the Large Cap Value category, and invests in equities with a market capitalization of $10 billion or more, but whose share prices do not reflect their intrinsic value. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 10.4% over the last five years.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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https://www.zacks.com/stock/news/2216899/are-these-3-top-ranked-mutual-funds-in-your-retirement-portfolio?
| 2024-01-30T01:50:34Z
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The U.S. economy has shown remarkable strength this year, culminating in the S&P 500 Index’s all-time high last week. With three consecutive weeks of gain and 12 out of 13 weeks in positive territory, Wall Street's benchmark has demonstrated resilience.
Following a notable decline in the inflation rate last year, the Federal Reserve responded by initially scaling back the intensity of interest rate hikes and eventually halting them altogether in July 2023. This strategic decision contributed to an impressive 23.9% rally in the S&P 500 Index last year.
Going forward in 2024, the Fed is poised to implement an interest rate reduction. This move is anticipated to be favorable for stock markets, as a lower risk-free interest rate will decrease the discount rate, positively impacting the net present value of equity investments. Bolstered by robust economic growth in the fourth quarter, the outlook for markets in 2024 remains optimistic.
In light of this favorable scenario, astute investors are concentrating on relative price performance, strategically identifying and capitalizing on promising opportunities that offer the potential for accelerated returns.
Relative Price Strength Strategy
Whether a stock has the potential to offer considerable returns is determined primarily by its earnings and valuation ratios. Simultaneously, it is essential to check whether its price performance exceeds its peers or the industry average.
Upon such comparison, if we find that a stock is unable to match up to wider sectoral growth despite having impressive earnings momentum or valuation multiples, it may be better to avoid it.
However, those outperforming their respective industries or benchmarks should be included in your portfolio since they have a higher chance of securing significant returns. Picking a stock that outperforms its peers ensures a winning option on your hands.
Then again, it is imperative that you determine whether or not an investment has relevant upside potential when considering stocks with significant relative price strength. Stocks delivering better than the S&P 500 for 1 to 3 months at least and having solid fundamentals indicate room for growth and are the best ways to go about this strategy.
Finally, it is crucial to find out whether analysts are optimistic about the upcoming earnings of these companies. In order to do this, we have added positive estimate revisions for the current quarter’s (Q1) earnings to our screen. When a stock undergoes an upward revision, it leads to additional price gains.
Screening Parameters
Relative % Price change – 12 weeks greater than 0
Relative % Price change – 4 weeks greater than 0
Relative % Price change – 1 week greater than 0
(We have considered those stocks that have been outperforming the S&P 500 over the last 12 weeks, four weeks and one week.)
% Change (Q1) Est. over 4 Weeks greater than 0: Positive current-quarter estimate revisions over the last four weeks.
Zacks Rank equal to 1: Only Zacks Rank #1 (Strong Buy) stocks — that have returned more than 26% annually over the last 26 years and surpassed the S&P 500 in 23 of the last 26 years — can get through. You can see the complete list of today’s Zacks #1 Rank stocks here.
Current Price greater than or equal to $5 and Average 20-day Volume greater than or equal to 50,000: A minimum price of $5 is a good standard to screen low-priced stocks, while a high trading volume would imply adequate liquidity.
VGM Score less than or equal to B: Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2 (Buy), offer the best upside potential.
Here are five of the seven stocks that made it through the screen:
AZZ Inc. (AZZ - Free Report) : Based in Fort Worth, TX, the company is engaged in the galvanizing and coil coatings business. AZZ’s expected EPS growth rate for three to five years is currently 14%, which compares favorably with the industry's growth rate of 10.9%. The company has a VGM Score of A.
Notably, the 2024 Zacks Consensus Estimate for AZZ indicates 4.9% year-over-year earnings per share growth. The company has a market capitalization of $1.6 billion. AZZ shares have gone up 50.7% in a year.
Universal Technical Institute, Inc. (UTI - Free Report) : Founded in 1965, it operates workplace training programs for professionals in the technical industry and transportation. The fiscal 2024 Zacks Consensus Estimate for this firm indicates 376.9% year-over-year earnings per share growth. Headquartered in Phoenix, AZ, UTI has a VGM Score of B.
Universal Technical Institute beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of roughly 188.5%, on average. UTI shares have risen 104.4% in a year.
Acuity Brands, Inc. (AYI - Free Report) : Based in Atlanta, GA, Acuity Brands specializes in lighting and building management solutions across North America and beyond. Over the past 60 days, this firm saw the Zacks Consensus Estimate for fiscal 2024 move up 10.5%. AYI has a VGM Score of B.
The fiscal 2024 Zacks Consensus Estimate for Acuity Brands indicates 5.3% year-over-year earnings per share growth. It has a trailing four-quarter earnings surprise of roughly 13.9% on average. AYI shares have increased 29.2% in a year.
PACCAR Inc. (PCAR - Free Report) : The company is a leading manufacturer of heavy-duty vehicles in the world and has substantial manufacturing exposure to light/medium trucks. Over the past 60 days, this Bellevue, WA-based firm saw the Zacks Consensus Estimate for 2024 move up 6.6%. PCAR has a VGM Score of A.
PACCAR beat the Zacks Consensus Estimate for earnings in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 17.1%, on average. PCAR shares have increased 40.3% in a year.
The Progressive Corporation (PGR - Free Report) : It is one of the major auto insurers in the country. The 2024 Zacks Consensus Estimate for this firm indicates 40.3% year-over-year earnings per share growth. Headquartered in Mayfield, OH, PGR has a VGM Score of B.
Progressive’s expected EPS growth rate for three to five years is currently 20.9%, which compares favorably with the industry's growth rate of 13.4%. PGR shares have shot up 32.5% in a year.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
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https://www.zacks.com/stock/news/2216901/5-relative-price-strength-stocks-compelling-enough-to-buy
| 2024-01-30T01:50:40Z
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Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
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.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
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.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Eli Lilly?
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. Eli Lilly (LLY - Free Report) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at $2.77 a share eight days away from its upcoming earnings release on February 6, 2024.
LLY has an Earnings ESP figure of +0.19%, which, as explained above, is calculated by taking the percentage difference between the $2.77 Most Accurate Estimate and the Zacks Consensus Estimate of $2.76. Eli Lilly 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.
LLY is just one of a large group of Medical stocks with a positive ESP figure. Merck (MRK - Free Report) is another qualifying stock you may want to consider.
Merck is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on February 1, 2024. MRK's Most Accurate Estimate sits at -$0.07 a share three days from its next earnings release.
The Zacks Consensus Estimate for Merck is -$0.09, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +23.45%.
Because both stocks hold a positive Earnings ESP, LLY and MRK 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 >>
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https://www.zacks.com/stock/news/2216951/how-to-find-strong-medical-stocks-slated-for-positive-earnings-surprises
| 2024-01-30T01:53:59Z
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Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.
Life and the stock market are both about expectations, and rising above what is expected is often rewarded, while falling short can come with negative consequences. Investors might want to try to capture stronger returns by finding positive earnings surprises.
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 is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
Bringing together a positive earnings ESP alongside a Zacks Rank #3 (Hold) or better has helped stocks report a positive earnings surprise 70% of the time. Furthermore, by using these parameters, investors have seen 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), 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 Dutch Bros?
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. Dutch Bros (BROS - Free Report) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at $0.03 a share 30 days away from its upcoming earnings release on February 28, 2024.
BROS has an Earnings ESP figure of +9.38%, which, as explained above, is calculated by taking the percentage difference between the $0.03 Most Accurate Estimate and the Zacks Consensus Estimate of $0.02. Dutch Bros 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.
BROS is just one of a large group of Consumer Staples stocks with a positive ESP figure. Estee Lauder (EL - Free Report) is another qualifying stock you may want to consider.
Estee Lauder is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on February 5, 2024. EL's Most Accurate Estimate sits at $0.57 a share seven days from its next earnings release.
The Zacks Consensus Estimate for Estee Lauder is $0.55, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +3.55%.
Because both stocks hold a positive Earnings ESP, BROS and EL 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 >>
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https://www.zacks.com/stock/news/2216952/how-to-boost-your-portfolio-with-top-consumer-staples-stocks-set-to-beat-earnings
| 2024-01-30T01:54:06Z
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Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.
The Zacks Earnings ESP, Explained
The Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
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.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Etsy?
The final step today is to look at a stock that meets our ESP qualifications. Etsy (ETSY - Free Report) earns a #3 (Hold) 30 days from its next quarterly earnings release on February 28, 2024, and its Most Accurate Estimate comes in at $0.80 a share.
Etsy's Earnings ESP sits at +3.17%, which, as explained above, is calculated by taking the percentage difference between the $0.80 Most Accurate Estimate and the Zacks Consensus Estimate of $0.78. ETSY is also part of a large group of stocks that boast a positive ESP. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
ETSY is one of just a large database of Computer and Technology stocks with positive ESPs. Another solid-looking stock is Veeco Instruments (VECO - Free Report) .
Veeco Instruments is a Zacks Rank #1 (Strong Buy) stock, and is getting ready to report earnings on February 14, 2024. VECO's Most Accurate Estimate sits at $0.43 a share 16 days from its next earnings release.
The Zacks Consensus Estimate for Veeco Instruments is $0.43, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +1.18%.
ETSY and VECO's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
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 >>
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https://www.zacks.com/stock/news/2216956/how-to-boost-your-portfolio-with-top-computer-and-technology-stocks-set-to-beat-earnings
| 2024-01-30T01:54:31Z
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Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.
With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure. The system also utilizes our core Zacks Rank to provide a stronger system for identifying stocks that might beat their next quarterly earnings estimate and possibly see the stock price climb.
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.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Block?
The final step today is to look at a stock that meets our ESP qualifications. Block (SQ - Free Report) earns a #3 (Hold) 24 days from its next quarterly earnings release on February 22, 2024, and its Most Accurate Estimate comes in at $0.62 a share.
Block's Earnings ESP sits at +10.89%, which, as explained above, is calculated by taking the percentage difference between the $0.62 Most Accurate Estimate and the Zacks Consensus Estimate of $0.55. SQ is also part of a large group of stocks that boast a positive ESP. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
SQ is one of just a large database of Business Services stocks with positive ESPs. Another solid-looking stock is Paychex (PAYX - Free Report) .
Paychex, which is readying to report earnings on April 3, 2024, sits at a Zacks Rank #3 (Hold) right now. It's Most Accurate Estimate is currently $1.37 a share, and PAYX is 65 days out from its next earnings report.
Paychex's Earnings ESP figure currently stands at +0.26% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.37.
SQ and PAYX's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
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 >>
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https://www.zacks.com/stock/news/2216957/how-to-find-strong-business-services-stocks-slated-for-positive-earnings-surprises
| 2024-01-30T01:54:37Z
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Here's an eye-opening statistic: older Americans are more afraid of running out of money than of death itself.
Also, retirees who have constructed a nest egg have valid justifications to be concerned, since the traditional ways to plan for retirement may mean income can no longer cover expenses. Some retirees are now tapping their principal to make a decent living, pressed for time between decreasing investment balances and longer life expectancies.
Retirement investing approaches of the past don't work today.
Years ago, investors at or close to retirement could put money into fixed-income assets and depend on appealing yields to generate consistent, solid pay streams to fund a comfortable retirement. 10-year Treasury bond rates in the late 1990s floated around 6.50%, but unfortunately, those days of being able to exclusively rely on Treasury yields to fund retirement income are over.
The effect of this drop in rates is substantial: over 20 years, the change in yield for a $1 million investment in 10-year Treasuries is over $1 million.
And lower bond yields aren't the only potential problem seniors are facing. Today's retirees aren't feeling as secure as they once did about Social Security, either. Benefit checks will still be coming for the foreseeable future, but based on current estimates, Social Security funds will run out of money in 2035.
So what can retirees do? You could dramatically reduce your expenses, and go out on a limb hoping your Social Security benefits don't diminish. On the other hand, you could opt for an alternative investment that gives a steady, higher-rate income stream to supplant lessening bond yields.
Invest in Dividend Stocks
We feel that these dividend-paying equities - as long as they are from high-quality, low-risk issuers - can give retirement investors a smart option to replace low-yielding Treasury bonds (or other bonds).
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
Going beyond those familiar names, you can find excellent dividend-paying stocks by following a few guidelines. Look for companies that pay a dividend yield of around 3%, with positive annual dividend growth. The growth rate is key to help combat the effects of inflation.
Here are three dividend-paying stocks retirees should consider for their nest egg portfolio.
BankUnited, Inc. (BKU - Free Report) is currently shelling out a dividend of $0.27 per share, with a dividend yield of 3.61%. This compares to the Banks - Major Regional industry's yield of 3.68% and the S&P 500's yield of 1.6%. The company's annualized dividend growth in the past year was 8%. Check BankUnited, Inc. (BKU - Free Report) dividend history here>>>
IdaCorp (IDA - Free Report) is paying out a dividend of $0.83 per share at the moment, with a dividend yield of 3.59% compared to the Utility - Electric Power industry's yield of 3.59% and the S&P 500's yield. The annualized dividend growth of the company was 5.06% over the past year. Check IdaCorp (IDA - Free Report) dividend history here>>>
Currently paying a dividend of $0.61 per share, Northrim BanCorp (NRIM - Free Report) has a dividend yield of 4.48%. This is compared to the Banks - West industry's yield of 2.54% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 20%. Check Northrim BanCorp (NRIM - Free Report) dividend history here>>>
But aren't stocks generally more risky than bonds?
Yes, that's true. As a broad category, bonds carry less risk than stocks. However, the stocks we are talking about - dividend -paying stocks from high-quality companies - can generate income over time and also mitigate the overall volatility of your portfolio compared to the stock market as a whole.
An upside to adding dividend stocks to your retirement portfolio: they can help lessen the effects of inflation, since many dividend-paying companies (especially blue chip stocks) generally increase their dividends over time.
Thinking about dividend-focused mutual funds or ETFs? Watch out for fees.
If you prefer investing in funds or ETFs compared to individual stocks, you can still pursue a dividend income strategy. However, it's important to know the fees charged by each fund or ETF, which can ultimately reduce your dividend income, working against your strategy. Do your homework and make sure you know the fees charged by any fund before you invest.
Bottom Line
Whether you select high-quality, low-fee funds or stocks, seeking the steady income of dividend-paying equities can potentially offer you a path to a better and more stress-free retirement.
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https://www.zacks.com/stock/news/2216999/improve-your-retirement-income-with-these-3-top-ranked-dividend-stocks
| 2024-01-30T01:58:05Z
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Believe it or not, seniors fear running out of cash more than they fear dying.
And unfortunately, even retirees who have built a nest egg have good reason to be concerned - with the traditional approaches to retirement planning, income may no longer cover expenses. That means retirees are dipping into principal to make ends meet, setting up a race against time between dwindling investment balances and longer lifespans.
Your parents' retirement investing plan won't cut it today.
Years ago, investors at or close to retirement could put money into fixed-income assets and depend on appealing yields to generate consistent, solid pay streams to fund a comfortable retirement. 10-year Treasury bond rates in the late 1990s floated around 6.50%, but unfortunately, those days of being able to exclusively rely on Treasury yields to fund retirement income are over.
The impact of this rate decline is sizable: over 20 years, the difference in yield for a $1 million investment in 10-year Treasuries is more than $1 million.
In addition to the considerable drop in bond yields, today's retirees are nervous about their future Social Security benefits. Because of certain demographic factors, it's been estimated that the funds that pay the Social Security benefits will run out of money in 2035.
Unfortunately, it looks like the two traditional sources of retirement income - bonds and Social Security - may not be able to adequately meet the needs of present and future retirees. But what if there was another option that could provide a steady, reliable source of income in retirement?
Invest in Dividend Stocks
Dividend-paying stocks from low-risk, high-quality companies are a smart way to generate steady and reliable attractive income streams to replace low risk, low yielding Treasury and bond options.
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
One approach to recognizing appropriate stocks is to look for companies with an average dividend yield of 3% and positive average annual dividend growth. Numerous stocks hike dividends over time, counterbalancing inflation risks.
Here are three dividend-paying stocks retirees should consider for their nest egg portfolio.
The Bank of New York Mellon Corporation (BK - Free Report) is currently shelling out a dividend of $0.42 per share, with a dividend yield of 3.04%. This compares to the Banks - Major Regional industry's yield of 3.68% and the S&P 500's yield of 1.6%. The company's annualized dividend growth in the past year was 13.51%. Check The Bank of New York Mellon Corporation (BK - Free Report) dividend history here>>>
Heartland BancCorp. (HLAN - Free Report) is paying out a dividend of $0.76 per share at the moment, with a dividend yield of 3.52% compared to the Banks - Midwest industry's yield of 3.09% and the S&P 500's yield. The annualized dividend growth of the company was 10% over the past year. Check Heartland BancCorp. (HLAN - Free Report) dividend history here>>>
Currently paying a dividend of $0.09 per share, Macatawa Bank (MCBC - Free Report) has a dividend yield of 3.24%. This is compared to the Banks - Midwest industry's yield of 3.09% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 12.5%. Check Macatawa Bank (MCBC - Free Report) dividend history here>>>
But aren't stocks generally more risky than bonds?
The fact is that stocks, as an asset class, carry more risk than bonds. To counterbalance this, invest in superior quality dividend stocks that not only can grow over time but more significantly, can also decrease your overall portfolio volatility with respect to the broader stock market.
A silver lining to owning dividend stocks for your retirement portfolio is that many companies, especially blue chip stocks, increase their dividends over time, helping offset the effects of inflation on your potential retirement income.
Thinking about dividend-focused mutual funds or ETFs? Watch out for fees.
If you prefer investing in funds or ETFs compared to individual stocks, you can still pursue a dividend income strategy. However, it's important to know the fees charged by each fund or ETF, which can ultimately reduce your dividend income, working against your strategy. Do your homework and make sure you know the fees charged by any fund before you invest.
Bottom Line
Regardless of whether you select high-quality, low-fee funds or stocks, looking for a steady stream of income from dividend-paying equities can potentially lead you to a solid and more peaceful retirement.
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https://www.zacks.com/stock/news/2217000/how-to-maximize-your-retirement-portfolio-with-these-top-ranked-dividend-stocks
| 2024-01-30T01:58:11Z
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM Score
What if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: CrowdStrike Holdings (CRWD - Free Report)
Founded in 2011, Sunnyvale, CA-based CrowdStrike is a leader in next-generation endpoint protection, threat intelligence and cyberattack response services.
CRWD is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. CRWD has a Growth Style Score of A, forecasting year-over-year earnings growth of 91.6% for the current fiscal year.
15 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.13 to $2.95 per share. CRWD also boasts an average earnings surprise of 16.6%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CRWD should be on investors' short list.
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https://www.zacks.com/stock/news/2217133/why-this-1-growth-stock-could-be-a-great-addition-to-your-portfolio
| 2024-01-30T02:09:42Z
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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Allstate (ALL - Free Report)
Founded in 1931 and headquartered in Northbrook, IL, The Allstate Corporation is the third-largest property-casualty (P&C) insurer and the largest publicly-held personal lines carrier in the U.S. The company also provides a range of life insurance and investment products to its diverse customer base. It provides insurance products to approximately 16 million households through more than 12,000 exclusive agencies and financial specialists in the U.S. and Canada.
ALL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Finance stock. ALL has a Momentum Style Score of B, and shares are up 13.1% over the past four weeks.
For fiscal 2023, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.88 to -$0.94 per share. ALL boasts an average earnings surprise of 31.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, ALL should be on investors' short list.
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https://www.zacks.com/stock/news/2217183/why-this-1-momentum-stock-could-be-a-great-addition-to-your-portfolio
| 2024-01-30T02:14:12Z
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Who says January’s a long month? This week starts slow, but we’ll end it with a full-fledged Jobs Week for February. Tuesday ushers in new JOLTS data for December, Wednesday brings us private-sector ADP ((ADP - Free Report) payroll totals for this month (along with the latest Fed decision on interest rates), and Friday is the big non-farm payroll survey from the U.S. Bureau of Labor Statistics (BLS). All of the forecast numbers are expected to tick down in the labor market, aside from the Unemployment Rate, which is expected to lift back up slightly to 3.8%.
In addition, our new week also features several marquee names of the Tech industry reporting earnings: Microsoft ((MSFT - Free Report) and Alphabet ((GOOGL - Free Report) on Tuesday, Apple ((AAPL - Free Report) and Amazon ((AMZN - Free Report) on Thursday — all after the closing bell, as per normal. These major firms are all expecting growth on both top and bottom lines, year over year, led by anticipated earnings growth of +285% from Zacks Rank #2 (Buy)-rated Amazon, and +15% revenues growth year over year from Zacks Rank #2-rated Microsoft. (In other news, Amazon is no longer pursuing the acquisition for iRobot, citing antitrust issues, sending the smaller stock down -20% at this hour.)
Elsewhere, there will be a bevy of other reports hitting the tape this week, from Case-Shiller home prices to Consumer Confidence to Q4 Productivity to S&P and ISM Manufacturing. We also look for fresh Q4 earnings reports from across the spectrum of sectors, from AMD ((AMD - Free Report) to General Motors ((GM - Free Report) to Mondelez ((MDLZ - Free Report) to Pfizer ((PFE - Free Report) to Snapchat ((SNAP - Free Report) and Starbucks ((SBUX - Free Report) — and that’s just tomorrow!
Off near-term lows on January 18th, three of the four major stock market indices have rebounded into positive territory year-to-date. Only the Russell 2000 is still -3% from the start of this year’s trading, though that’s up from -6% on January 18th. The small-cap index, heavy in regional bank representation, needs three relatively strong trading days to finish the month in the green, along with the others which are already there.
We do not expect Wednesday’s Federal Open Market Committee (FOMC) decision to be any factor at all on trading behavior this week. Even among those analysts who still believe — or wish for — six interest rate cuts between now and the end of the year do not foresee one coming this early. Most of these folks look toward early March for the first cut, though this would likely take much weaker numbers in the economy before the Fed would risk loosening the monetary screws.
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Amazon.com, Inc. (AMZN) - free report >>
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Automatic Data Processing, Inc. (ADP) - free report >>
Pfizer Inc. (PFE) - free report >>
Starbucks Corporation (SBUX) - free report >>
General Motors Company (GM) - free report >>
Mondelez International, Inc. (MDLZ) - free report >>
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https://www.zacks.com/stock/news/2217255/big-earnings-week-ahead
| 2024-01-30T02:18:41Z
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The servicemen of the Russian armed forces killed Ukrainian civilians in the occupied Kreminna (Luhansk Oblast, eastern Ukraine), the Russian Telegram channel ASTRA reported on 29 January.
This is not the first time Russian soldiers have killed civilians in Ukraine. Russia’s attacks on unarmed Ukrainian citizens in occupied territories – torture, sexual violence, murder, and forcible detentions – are war crimes that are systemic in nature.
According to ASTRA, the bodies of 60-year-old Natalia Burlutska (photo 1), her 37-year-old daughter Alla Burlutska (photo 2), and her 41-year-old son-in-law Andrii Ruban with gunshot wounds were found in in the Russian-occupied city of Kreminna on 26 January 2024.
Relatives of the murdered family said that Alla Burlutska had an 18-year-old daughter who survived, ASTRA reported.
Russian war criminals who killed the Ukrainian family have been identified. According to ASTRA, the murderers of Ukrainian civilians are three Russian servicemen, Fidan Hayerzamanov, Igor Dmitriev, and Azamat Gareev.
Fidan Hayerzamanov, a 33-year-old soldier of the Russian military unit 12271, was detained by the Russian occupation forces for killing civilians, ASTRA reported. His companions, 30-year-old Igor Dmitriev and 39-year-old Azamat Gareev, are also wanted by Russian occupation authorities.
According to ASTRA, the motives for the murder are currently unknown.
“They just did it for fun”: Ukrainian survivors detail Wagner group horrors
Since the beginning of the full-scale Russian invasion of Ukraine, Russian forces have committed a series of atrocities, exemplified by the unearthing of mass graves and torture facilities in liberated cities such as Bucha (Kyiv Oblast, northern Ukraine) and Izium (Kharkiv Oblast, eastern Ukraine).
In March 2022, following Russia’s full-scale invasion, the president of the United Nations Human Rights Council (UNHRC), Federico Villegas Beltrán, announced the establishment of the Independent International Commission of Inquiry on Ukraine. This commission is investigating all alleged violations and abuses of human rights and international humanitarian law (IHL) during the Russian war against Ukraine. The commission has found numerous cases of inhuman treatment by Russian occupation authorities in Chernihiv, Donetsk, Kharkiv, Kherson, Kyiv, Sumy, and Zaporizhzhia oblasts.
Related:
- UN report accuses Russia of war crimes in Ukraine: Torture, sexual violence, and murder revealed
- Bucha – a turning point in Russia’s war in Ukraine and relations with the world
- Russian rockets attack civilian residences in Ukraine’s Myrnohrad at night, injuring three, including 15-year-old
- Russian troops execute Ukrainian POWs in southeastern Ukraine
- Russia continues demolishing buildings in occupied Mariupol to conceal its crimes against civilians, Ukraine says
- Top-10 Russian genocidal quotes about Ukraine
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https://euromaidanpress.com/2024/01/30/russian-soldiers-kill-family-of-three-in-occupied-kreminna/
| 2024-01-30T02:19:33Z
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Box (BOX - Free Report) is making concerted efforts to expand its presence in the booming enterprise content management (ECM) market, which, per a Mordor Intelligence report, is expected to hit $77.20 billion in 2024 and reach $149.80 billion by 2029, indicating a CAGR of 14.2% between 2024 and 2029.
In a bid to expand its ECM solutions portfolio, Box acquired Crooze, a provider of no-code enterprise content management applications, to integrate Crooze’s advanced ECM capabilities into its robust set of content services.
With this acquisition, Box can leverage Crooze’s no-code builder for business-document applications, extensive metadata tools, customized dashboards, forms, document generation capabilities, and integration with Box Relay for automated content workflows.
This acquisition will enable Box to help organizations manage contract lifecycle, digital assets, controlled documents and enterprise content libraries.
Box is anticipated to gain solid traction across various enterprises on the back of its latest move.
Moreover, the Crooze acquisition will strengthen the company’s Content Could platform.
Expanding Enterprise Content Management Solutions
Apart from the Crooze acquisition, Box partnered with Alphabet (GOOGL - Free Report) to integrate Google Cloud’s generative AI capabilities to enhance enterprise work, integrating Vertex AI to improve data processing and analysis in Box Content Cloud.
The partnership with Alphabet will power Box's metadata extraction feature, which saves customers’ time by automatically identifying and tagging key context from documents, and matching metadata fields to attributes.
Box introduced Box Hubs, a Content Cloud solution that integrates with Box AI, enabling users to securely curate and publish content across the enterprise.
Further, all content published in a Hub retains enterprise-grade security, governance and compliance capabilities. Users can access all available Hubs via the new Box Hubs gallery, use robust search functionality, and view built-in insights to understand content performance and audience engagement.
Box recently partnered with CrowdStrike (CRWD - Free Report) to enhance cloud data security, integrating Box's secure content management with CrowdStrike's AI-powered platform, CrowdStrike Falcon.
This integration with CrowdStrike’s AI-powered platform enables users for real-time access control and threat prevention, allowing IT teams to detect malicious files and configure security policies.
Wrapping Up
All the above-mentioned endeavors to strengthen its content services will enable Box to enhance its workplace experience, which, in turn, will aid its overall financial performance in the upcoming period.
The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $1.08 billion, indicating an increase of 4.4% from the fiscal 2024 level.
The consensus mark for fiscal 2025 earnings is pegged at $1.70 per share, indicating growth of 19.2% from the year-ago quarter.
However, macroeconomic pressures and rising cloud competition are major concerns for the company. Box has lost 20.9% in the past year, underperforming the Zacks Computer & Technology sector’s growth of 48.2%.
Zacks Rank & A Stock to Consider
Currently, BOX carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Vertiv (VRT - Free Report) , which carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Vertiv have gained 283% in the past year. The long-term earnings growth rate for VRT is currently projected at 53.86%.
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https://www.zacks.com/stock/news/2217284/box-aids-enterprise-content-management-with-crooze-buyout
| 2024-01-30T02:20:08Z
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Ukraine is trying to win the war against Russia by developing and manufacturing its own weapons, as well as seeking partnerships to produce weapons and ammunition with Western allies, Oleksandr Kamyshin, the Minister of Strategic Industries of Ukraine, told Time.
According to Oleksandr Kamyshin, Ukraine is taking active measures to increase the number of secret bases and factories where new weapons are tested and produced despite the ongoing Russian invasion and problems in Ukraine’s defense sector.
Ukraine has a large and motivated workforce, hundreds of factories, and tens of thousands of qualified specialists, but it also suffers from mismanagement and constant missile strikes from Russia, Kamyshin told Time.
How Ukraine’s scrappy marine drones are revolutionizing naval warfare
Despite the challenges, the Minister of Strategic Industries of Ukraine hopes that Ukraine will strengthen its collaboration with the US and other Western countries, which have supported the Ukrainians with weapons and money but also have strict rules on sharing advanced technology and secrets.
According to Time, a new stage in the Russian-Ukrainian war has begun this winter. Intensive drone strikes on targets deep in Russian territory mark this stage of the war.
Oleksandr Kamyshin told Time that Ukraine launches drones to hit targets inside Russia in the dead of night from secret bases in Ukraine. The Ukrainian military closely guards these bases. Several civilian engineers also have access to the launch, Kamyshin said.
“We don’t have time to test these things [long-range kamikaze drones – ed.] at the range. We test them in combat,” Kamyshin said. “No matter how much we produce in conventional weapons, we cannot catch up with Russia. We need to use advanced technology to find a new approach,” the Minister of Strategic Industries added. He compared the challenge to the story of David and Goliath playing on repeat, with each new phase of the war obliging Ukraine to find a new slingshot.
The biggest challenge for Ukraine in the coming months will be attracting foreign partners to the Ukrainian arms industry and securing the licenses needed to build and repair Western weapons needed to repel the Russian invasion, according to Time. “Our model used to be: Give it to us. Now our model is going to be: Let’s make it together,” Kamyshin told the Time.
According to Oleksandr Kamyshin, all recent strikes on targets in Russia have been carried out by Ukrainian-made drones.
Related:
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https://euromaidanpress.com/2024/01/30/ukraine-builds-its-own-weapons-to-fight-russia/
| 2024-01-30T02:20:13Z
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The telecom sector has been trending downward compared to the broader market. With the S&P Telecom Select Industry Index falling 8.78% over the past year, the descending trajectory in the industry is evident when compared to the S&P 500, which has added 21.20% over the past year.
However, optimistic AI forecasts amid the broader market rally may fare well for the telecom sector. The Fed’s dovish stance and estimates of interest rate cuts in 2024 also bode well. Both AT&T and Verizon Communications Inc. reported a healthy fourth quarter.
Below, we highlight fourth-quarter earnings results from these companies.
Earnings in Detail
Verizon Communications
On Jan 23,Verizon Communications (VZ - Free Report) reported healthy fourth-quarter numbers, driven by significant 5G adoption and wireless traction. The robust broadband performance was fueled by solid demand for fixed wireless products. Verizon witnessed solid momentum in the wireless business, with 449,000 total postpaid phone net additions in the quarter.
Net loss in the quarter amounted to $2.57 billion or a loss of 64 cents per share. In the prior-year quarter, the company had reported net income of $6.69 billion or $1.56 per share. This year-over-year decline can be mostly blamed on higher operating expenses led by a goodwill impairment charge. Excluding non-recurring items, quarterly adjusted earnings came in at $1.08 per share compared with $1.19 in the prior-year quarter, beating the Zacks Consensus Estimate by a penny.
Total operating revenues of $35.13 billion decreased from $35.25 billion in the prior year but managed to beat the consensus estimate of $34.82 billion. The year-over-year fall was mainly on account of lower wireless equipment revenues generated from a challenging macroeconomic environment and fewer postpaid phone upgrades.
The company expects wireless service revenues to grow by 2%-3.5% for 2024.
AT&T
On Jan 24, AT&T (T - Free Report) reported relatively healthy fourth-quarter 2023 results as solid wireless traction and customer additions were partially offset by lower demand for legacy voice and data services. The company recorded strong subscriber growth backed by a resilient business model and robust cash flow position driven by a diligent execution of operational plans.
On a GAAP basis, the company reported a net income of $2.14 billion or 30 cents per share, which marked a significant year-over-year improvement, primarily due to high asset impairment charges in the year-earlier quarter. Excluding non-recurring items, adjusted earnings from continuing operations were 54 cents per share compared with 61 cents in the year-ago quarter and below the Zacks Consensus Estimate by a penny.
Quarterly GAAP operating revenues increased 2.2% year over year to $32.02 billion, beating the consensus mark of $31.46 billion. This rise was largely due to higher Mobility, Mexico and Consumer Wireline revenues, partially offset by lower revenues from Business Wireline services.
While optimizing operations, AT&T aims to increase efficiencies to lower operating costs, while focusing on 5G and fiber-based connectivity along with an expanded reach of software-based entertainment platforms.
ETFs in Focus
Below, we highlight a few ETFs with considerable exposure to the mentioned companies.
iShares U.S. Telecommunications ETF (IYZ - Free Report)
iShares U.S. Telecommunications ETF seeks to track the performance of the Russell 1000 Telecommunications RIC 22.5/45 Capped Index with a basket of 19 securities. The fund has amassed an asset base of $277.9 million and charges an annual fee of 0.40%.
iShares U.S. Telecommunications ETF has an exposure of has an exposure of 14.66% and 4.34% in VZ and T, respectively. The fund has a Zacks ETF Rank #3 (Hold) and a Medium risk outlook. IYZ has added 5.71% over the past month and 7.45% over the past three months.
Invesco S&P 500 Equal Weight Communication Services ETF (RSPC - Free Report)
Invesco S&P 500 Equal Weight Communication Services ETF seeks to track the performance of S&P 500 Equal Weight Communication Services Plus Index, with a basket of 26 securities. The fund has amassed an asset base of $64.4 million and charges an annual fee of 0.40%.
Invesco S&P 500 Equal Weight Communication Services ETF has an exposure of 4.84% and 4.45% in VZ and T, respectively. The fund has a Zacks ETF Rank #2 (Buy). RSPC has added about 4.60% over the past month and 10.21% over the past three months.
Fidelity MSCI Communication Services Index ETF (FCOM - Free Report)
Fidelity MSCI Communication Services Index ETF seeks to track the performance of the MSCI USA IMI Communication Services 25/50 Index with a basket of 108 securities. The fund has amassed an asset base of $918.1 million and charges an annual fee of 0.08%.
Fidelity MSCI Communication Services Index ETF has an exposure of 4.54% and 3.58% in VZ and T, respectively. The fund has a Zacks ETF Rank #3 (Hold) and a Medium risk outlook. FCOM has added 5.37% over the past month and 12.32% over the past three months.
Vanguard Communication Services ETF (VOX - Free Report)
Vanguard Communication Services ETF seeks to track the performance of MSCI US Investable Market Communication Services 25/50 Index, with a basket of 118 securities. The fund has gathered an asset base of $3.61 billion and charges an annual fee of 0.10%.
Vanguard Communication Services ETF has an exposure of 4.42% and 3.58% in VZ and T, respectively. The fund has a Zacks ETF Rank #3 (Hold) and a Medium risk outlook. VOX has added 5.42% over the past month and 12.23% over the past three months.
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Vanguard Communication Services ETF (VOX) - free report >>
Fidelity MSCI Communication Services Index ETF (FCOM) - free report >>
iShares U.S. Telecommunications ETF (IYZ) - free report >>
Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) - free report >>
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https://www.zacks.com/stock/news/2217462/assessing-telecomm-etfs-amid-q4-earnings
| 2024-01-30T02:30:15Z
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Liverpool fans in Thailand left heartbroken by the imminent departure of the club’s manager, Jurgen Klopp, have been warned by the police against falling for a scam involving fake messages from former Liverpool player Xabi Alonso, who is considered the front runner to replace the German.
Thai news outlet The Nation reported on Jan 29 that Thailand’s Central Investigation Bureau (CIB) warned that scammers were sending messages to fans claiming to be from Alonso and asking for donations to help the Premier League club.
The messages include a link to a fraudulent website designed to steal the victim’s personal information and money.
The CIB is urging fans to be vigilant and not to click on links from unknown online message senders.
Members of the public are advised to verify the authenticity of online messages and to avoid clicking on links from unknown senders, as well as to be suspicious of messages that ask for personal information or money.
The Nation said that Thai police are working with Liverpool to investigate the scam.
Alonso, who manages German Bundesliga team Bayer Leverkusen, has been widely tipped to be Klopp’s successor at the English giants after the latter announced that he would be leaving the Premier League club at the end of the 2023-2024 season.
Klopp joined Liverpool in 2015 and picked up various accolades, including the Champion’s League and the club’s first Premier League title, during his nine-year tenure.
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https://www.straitstimes.com/asia/se-asia/thai-police-warn-liverpool-fans-of-scam-involving-xabi-alonso
| 2024-01-30T02:31:06Z
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SINGAPORE - CDL Hospitality Trusts (CDLHT) said its total distribution per stapled security (DPS) for the second half ended Dec 31, 2023, dropped 11.1 per cent to 3.19 cents from 3.59 cents.
Total distribution to stapled security holders was down 10.7 per cent year-on-year to $39.8 million from $44.5 million previously, CDLHT’s managers reported on Jan 30.
They attributed the lower H2 total distribution and DPS to a rise in interest costs comprising funding costs on floating rate loans and on the refinancing of fixed-rate loans, as well as interest expenses incurred on additional amounts drawn to finance asset enhancement works.
The half-year period’s total distribution and DPS figures come after factoring in retained working capital as well as a capital distribution of $9.5 million. Without the retention, CDLHT’s DPS would have been 12.4 per cent lower at 3.46 cents compared to 3.95 cents for the year-ago period.
Revenue for the six-month period rose 5.8 per cent on the year to $138.3 million from $130.7 million, while net property income (NPI) grew 3.7 per cent to $75.5 million from $72.8 million previously.
The topline growth came on the back of improvements recorded throughout CDLHT’s portfolio, said its managers, save for lower NPI from Singapore and Perth.
They also noted positive momentum in revenue per available room (RevPAR) growth across all portfolio markets as global travel continued to recover in H2 FY2023.
In the group’s core market of Singapore, RevPAR rose 3.5 per cent to $217 from $209 in H2 FY2022 though the average occupancy rate fell 3.7 percentage points to 83.1 per cent.
Vincent Yeo, chief executive of CDLHT’s managers, said Singapore’s hospitality sector “witnessed remarkable growth” in the first three quarters of 2023.
“In the final quarter, the pent-up demand that fuelled the industry’s resurgence began to normalise, in contrast to the fervour experienced in 2022.”
Inclusive of retained working capital and capital distribution for the full year, CDLHT’s FY2023 DPS stood at 5.7 cents, up 1.2 per cent from 5.63 cents in FY2022. Total distribution for the period was 1.8 per cent higher at $71 million.
Its managers also noted broad improvement in operational results over FY2023, coupled with RevPAR growth across all portfolio markets.
“The year 2023 was a challenging one where we were pleased to achieve growth amidst a difficult economy and an elevated interest rate environment. The prospects for our portfolio hotels continue to be healthy while interest rates have shown signs of peaking,” said Mr Yeo.
Stapled securities of CDLHT were trading down three cents, or 2.9 per cent, at $1.02 as at 9.49am on Jan 30. THE BUSINESS TIMES
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https://www.straitstimes.com/business/cdlht-second-half-dps-falls-111-to-319-cents-on-higher-interest-costs
| 2024-01-30T02:31:17Z
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SINGAPORE – Keppel Reit’s distribution per unit (DPU) slipped 1.7 per cent to 2.9 cents for the second half of financial year 2023, as compared with 2.95 cents a year ago.
Gross rent for the period rose 7.2 per cent to $111.2 million, driving net property income to increase 7 per cent to $92.5 million, despite higher property expenses.
This was mainly due to higher rentals and occupancy for the Singapore properties, the Reit manager said on Jan 30.
Distributable income from operations registered a 0.7 per cent fall at $99.7 million for the half year.
The decrease was mainly attributable to lower interest income due mainly to repayment of advances by an associate.
The distribution will be paid out on March 15, after the record date on Feb 7.
For the whole financial year, DPU was 2 per cent lower at 5.8 cents. Distributable income from operations dropped 5.8 per cent to $198.7 million.
The manager noted that the lower distribution to unit holders was mainly due to higher borrowing costs at $67 million, up 16 per cent from financial year 2022.
Gross rent for the year rose 6 per cent to $220.2 million, leading net property income to increase 3.7 per cent to $182.4 million.
Units of Keppel Reit fell two cents, or 2.2 per cent, to 89.5 cents on Jan 29. THE BUSINESS TIMES
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https://www.straitstimes.com/business/keppel-reit-posts-17-drop-in-second-half-dpu-to-29-cents
| 2024-01-30T02:31:27Z
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SINGAPORE – Seatrium expects a financial loss for financial year 2023 that is “significantly higher than the previous year”, it said in a profit guidance on Jan 30.
The group noted that it is expected to make a material non-cash writedown related to “surplus non-core assets and obsolete inventories” for the financial year, which were identified by the management’s strategic review.
“In line with the group’s business transformation, management undertook a strategic review of its business focus, operational footprint and assets required to support its strategy of building a profitable and resilient business going forward,” the company said.
It added that the closure of surplus non-core assets and writedown of excess and obsolete inventories are expected to improve Seatrium’s productivity, optimise its cost structure and reduce cash operating expenses, resulting in significant value creation in the medium to long term.
Seatrium had noted during its third quarter business update on Nov 8, 2023, that a net loss for the full year is expected, despite improving operational and financial performances.
The group added on Jan 30 that it is in the process of finalising the unaudited financials to be released on Feb 26, and advised shareholders and investors to deal with its shares with caution.
Shares of Seatrium closed on Jan 30 up 0.4 cent or 3.8 per cent at 10.8 cents, before its profit guidance. THE BUSINESS TIMES
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https://www.straitstimes.com/business/seatrium-warns-of-larger-full-year-loss-on-asset-surplus-writedown
| 2024-01-30T02:31:37Z
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WASHINGTON/DUBLIN - Boeing said on Monday it would withdraw its request for a exemption that would have allowed US regulators to certify the upcoming 737 Max 7 without making immediate design changes, as it faces increasing scrutiny from lawmakers and regulators.
The company, long a symbol of America’s manufacturing prowess, is attempting to quell ongoing safety concerns following a harrowing mid-air cabin panel blowout on a 737 Max 9 jet operated by Alaska Airlines on Jan 5.
The withdrawal of the exemption request, first reported by Reuters, puts in question the certification timeline for the Max 7, which Boeing had predicted would occur in 2023 and has been drawn out due to the request made in December.
The exemption would have allowed the Max 7, like the Max 8 and 9, to be put into service before making changes to nacelle inlet structure and engine anti-ice system that are necessary to “address overheating during certain conditions that may result in failure of the engine inlet inner barrel and severe engine inlet cowl damage,” according to a notice on the Federal Register.
The upcoming Max 10 - the largest variant of the jet, which Boeing had also hoped to certify this year - uses the same nacelle design and anti-ice system and will also require design changes if an exemption is not sought.
Boeing originally proposed the Max 7 exemption run through May 31, 2026 - the time period the company believed necessary to develop and certify design changes, but its ability to gain approval was seen as doubtful after the Alaska Airlines accident.
“While we are confident that the proposed time-limited exemption for that system follows established Federal Aviation Authority (FAA) processes to ensure safe operation, we will instead incorporate an engineering solution that will be completed during the certification process,” Boeing said in a statement.
US Senator Tammy Duckworth, who leads the Senate Commerce Committee’s aviation safety subcommittee, said last week she requested that Boeing withdraw the exemption request during a meeting with the planemaker’s CEO Dave Calhoun. She said Mr Calhoun told her he would consider it.
Results in focus
The announcement came ahead of Boeing’s fourth-quarter results on Wednesday, to be delivered while the planemaker is in the middle of its biggest safety crisis since the two fatal 737 Max 8 crashes in 2018 and 2019.
Analysts said Mr Caulhoun will try to assure regulators and the public that its focus is on safety and production quality, building on moves like it withdrawing the Max 7 exemption request.
Executives at the Airline Economics conference in Dublin on Monday publicly backed Mr Calhoun and the rest of Boeing’s management, but made clear the challenge the company faces to regain industry confidence.
Even so, multiple sources said industry speculation was swirling behind closed doors about various permutations of leadership changes at Boeing or its commercial division ahead of a potentially critical U.S. National Transportation Safety Board (NTSB) report due in coming days and what could be a tricky hearing in front of the Senate Commerce Committee in coming weeks.
However, AerCap CEO Aengus Kelly dismissed talk of a leadership change.
“They’re under no illusions about the severity of the situation,” Mr Kelly told Reuters on the sidelines of the conference.
Before the Alaska accident, Boeing was expected to release a new financial and delivery target for 2024 and provide an update on its forecast for 2025-26, the timeframe in which the planemaker’s operations were expected to stabilize.
Boeing had previously projected free cash flow of about US$10 billion (S$13.4 billion) by 2025 or 2026, with 737 production expected to reach 50 jets per month.
That is now in question after the FAA on Jan 24 announced it would not approve further production rate increases for the 737 Max series.
The company’s projections now will be delivered with a cloud over the management’s head, with an influential industry leader saying in Dublin that the regulatory scrutiny will get worse if its record going forward is not flawless.
If there is one more significant problem “the FAA will stop (737) production”, Air Lease Executive Chairman Steven Udvar-Hazy told reporters at the conference.
The door plug that blew out is present on most 737 Max 9 planes, in place of an exit airlines could have added if they wanted a greater number of seats.
Trade publication The Air Current last week reported that the door plug on the affected Max 9 reached Boeing’s factory from Spirit AeroSystems with bolts installed, but that the planemaker re-opened it to give access to nearby rivets that had been mis-installed by Spirit.
Spirit and Boeing referred queries on the probe to the NTSB. The agency’s chair Jennifer Homendy said on Jan 18 it was too early to say if the root cause of the blowout was missing or mis-installed bolts.
In a letter to Mr Calhoun reviewed by Reuters on Monday, New York state comptroller Thomas DiNapoli requested the CEO provide details on the short and long-term steps necessary to “ameliorate” immediate quality and safety issues, and asked about the role of Boeing’s board in overseeing the current crisis.
Mr DiNapoli had asked Boeing: “How will you restore confidence among your customers and the flying public?“ he wrote.
Boeing did not immediately respond to a request for comments.
Despite the public support for Boeing’s leadership at the Dublin conference, several delegates and industry officials said privately that questions remained over the future of Boeing’s management.
“Behind the scenes everyone is livid,” a person familiar with lessor discussions with Boeing said.
In response, Boeing referred to comments made by Boeing Commercial Airplanes President Stan Deal in a message to employees on Friday.
“Our long-term focus is on improving our quality so that we can regain the confidence of our customers, our regulator and the flying public,” he said. “We own these issues and will make them right.” REUTERS
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https://www.straitstimes.com/world/boeing-to-withdraw-max-7-exemption-request-as-safety-scrutiny-intensifies
| 2024-01-30T02:31:48Z
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British Columbia will stop approvals of new colleges seeking to enroll international students until February 2026, the government of the Canadian province said on Monday.
The province will set minimum language requirements at private training institutions and also set higher standards for labor market needs and degree quality.
The move comes as the Canadian government has been attempting to curb a surge in immigration of international students, which has been partly blamed for a shortage of rental units and a 7.7% rise in rents nationwide in December versus a year earlier.
Last week, the federal government announced an immediate, two-year cap on new international student permits, which will cut the country's intake by 35% this year to about 360,000. It will also stop giving work permits to some students after graduation.
As of the end of last year, there were about 1 million international study permit holders in Canada, an amount about three times larger than that of a decade ago, according to government data.
Canada has emerged as a popular destination for international students since it is relatively easy for them to obtain work permits after they finish courses. REUTERS
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https://www.straitstimes.com/world/british-columbia-to-pause-approvals-of-new-colleges-seeking-to-enroll-foreign-students
| 2024-01-30T02:31:59Z
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CHICAGO - New York State’s comptroller has asked Boeing CEO Dave Calhoun to explain how it is handling its current crisis in the wake of a door plug blowout on its 737 Max 9 aircraft early in January, according to a letter on Jan 29 seen by Reuters.
The comptroller’s office oversees the state’s pension system, which held a 0.16 per cent stake in the US planemaker at the end of September 2023.
In his letter, New York Comptroller Thomas DiNapoli asked Mr Calhoun to detail the steps taken by the company, thus far, to “ameliorate” immediate quality and safety issues as well as the longer-term reforms needed to prevent a repeat.
Mr DiNapoli also asked about the role of Boeing’s board in overseeing the current crisis.
“How will you restore confidence among your customers and the flying public?“ he wrote.
Boeing did not immediately respond to a request for comments.
The company, long a symbol of America’s manufacturing prowess, is in the crosshairs of regulators, politicians and airlines following the Jan 5 incident, which is under investigation.
On Jan 5, a two-month-old Boeing 737 Max 9 narrowly escaped disaster after a mid-cabin door plug blew out the left side of the jet as it climbed from Portland, Oregon, en route to Ontario, California, forcing pilots to turn back and land safely with 171 passengers and six crew on board.
While the US Federal Aviation Administration has allowed grounded Max 9 planes to return to service after inspections, it has imposed a freeze on production increases of the single-aisle 737 Max - Boeing’s best-selling jets.
The planemaker and its Max jets have been under scrutiny ever since crashes of the more widely-sold Max 8 killed 346 people in 2018 and 2019. It led to worldwide groundings for 20 months.
The latest troubles are upending the aerospace industry’s 2024 plans, changing airlines’ fleet and expansion goals.
Several industry commentators, including influential analyst Richard Aboulafia, have called on Mr Calhoun or other executives and board members to step aside.
Mr DiNapoli wrote the recent events have “fuelled a narrative that Boeing continues to be plagued by safety and oversight failures”. REUTERS
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https://www.straitstimes.com/world/united-states/new-york-state-comptroller-asks-boeing-ceo-to-explain-handling-of-max-9-fallout
| 2024-01-30T02:32:09Z
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WASHINGTON - Two days after a man called in a fake emergency at the South Carolina home of Republican presidential candidate Nikki Haley, she was targeted by a second “swatting” attempt on New Year’s Day, this time by someone who said Mrs Haley had shot her daughter, according to an incident report seen by Reuters.
A Charleston County sheriff’s deputy responded on Jan 1 to Mrs Haley’s home after a person who identified themself as “Rose” called 911 claiming Mrs Haley’s daughter was lying in a pool of blood and Mrs Haley was threatening to shoot herself, a sheriff’s office report said.
The caller claimed to be on the phone with Mrs Haley.
The deputy spoke to an unidentified woman at the front door who matched Mrs Haley’s description and quickly concluded the call was a hoax, according to the report, which Reuters received in response to a request for records of swatting incidents at Mrs Haley’s residence.
The Jan 1 swatting attempt has not been previously reported.
The hoaxes against Mrs Haley, who is challenging frontrunner former President Donald Trump for the Republican presidential nomination, occurred in the town of Kiawah Island, an affluent, gated South Carolina community of around 2,000 people.
Reuters reported on Jan 27 that Mrs Haley’s Kiawah Island home had been swatted on Dec 30, when a man called authorities and claimed to have shot a woman and threatened to harm himself at her home.
The swatting incidents are among a wave of violent threats, bomb scares and other acts of intimidation against government officials, members of the judiciary and election administrators since the 2020 election that have alarmed US law enforcement officials ahead of this year’s US presidential contest.
Mrs Haley did not immediately respond to a request for comment. The sheriff’s office has not publicly identified any suspects in the hoax calls.
Swatting is the filing of false reports to the police to set off a potentially dangerous response by officers.
Law enforcement experts see it as a form of intimidation or harassment that is increasingly being used to target prominent figures, including officials involved in the civil and criminal cases against Trump.
On NBC’s “Meet the Press” on Jan 28, Mrs Haley alluded to a second swatting attempt but did not provide a date for the incident or share details of what happened. “I think we’ve had it happen twice,” she said.
Swatting cases have surged over the past two months, targeting both allies and rivals of Trump as he campaigns to return to the White House.
“Swatting and physical threats are designed to terrorize the civil servants our democracy relies upon,” said Mr David Becker, executive director of the non-partisan Center for Election Innovation and Research. “As the presidential campaign ramps up, it appears that harassment is increasing.”
Targets have included figures publicly opposed to Trump, such as Maine Secretary of State Shenna Bellows, a Democrat who barred him from her state’s primary ballot.
Judges and at least one prosecutor handling cases against Trump have been targeted. But Trump backers such as US Representative Marjorie Taylor Greene have also faced swatting attempts.
Guns drawn, elderly parents home
In the Dec 30 incident, Mrs Haley’s parents, aged 87 and 90, and their caretaker were home at the time, according to records received by Reuters on Jan 29, which provided new information on the incident.
Deputies “observed a silhouette of an individual through the second-floor window balcony. Deputies presented their weapons and ordered the individual to raise their hands,” an incident report from the sheriff’s office said.
Deputies then observed two people raise their hands, and possibly a third person, through the window.
The incident report did not identify the individuals.
But Mrs Haley said on Jan 28 that deputies had “guns drawn pointing at my parents.”
A deputy approached the front door and spoke to the caretaker, who said no one had been shot, the incident report said. Deputies later spoke to the homeowner, seemingly Mrs Haley, on the phone, it added.
“It put my family in danger,” Mrs Haley said in the Jan 28 TV interview about the Dec 30 incident. “It was not a safe situation. And that goes to show the chaos that’s surrounding our country right now.”
The call was made by a man who identified himself as “Travis,” according to the incident report.
Officials spoke with the occupants of the home and let them listen to the 911 call, but they “did not recognise the voice,” the report said.
Authorities were unable to locate the number the call originated from, the report added.
However, authorities appear to have more information about the Jan 1 call. The report on that incident, which was released to Reuters with redactions, said authorities had determined the caller’s phone number.
Mrs Haley and her husband bought the US$2.4 million (S$3.21 million) Kiawah Island residence in October 2019, local property records indicate. REUTERS
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https://www.straitstimes.com/world/united-states/republican-candidate-nikki-haley-was-targeted-in-second-swatting-attempt
| 2024-01-30T02:32:19Z
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WASHINGTON/CARACAS - The United States on Jan 29 began reinstating sanctions on Venezuela and a Biden administration source said a roll-back of restrictions on the oil industry could be allowed to expire, after the South American country’s top court upheld a ban blocking the candidacy of the leading opposition hopeful in presidential elections.
The United States had granted sanctions relief for Opec member Venezuela in October 2023 in recognition of a deal for elections this year.
But that relief was conditioned on President Nicolas Maduro’s government freeing certain opposition-linked and American prisoners and making progress toward removing bans on a number of opposition figures.
Though Venezuela in December 2023 carried out a prisoner swap, the Maduro-allied Supreme Court on Jan 26 kept in place a ban on opposition candidate Maria Corina Machado, upholding prior findings that she had supported the sanctions, was involved in corruption and lost money associated with Venezuela’s foreign assets.
Several opposition members were arrested the same day.
In a first reinstatement of sanctions, the Treasury Department said on Jan 29 evening any US entities conducting transactions with Venezuelan state-owned gold mining firm Minerven will have until Feb 13 to wind them down.
The move came hours after a Biden administration official had said the Treasury license that broadly restored dealings with Venezuela’s oil industry would be allowed to expire on April 18 if Machado and other opposition figures were not allowed to run.
“Unless Maduro and his representatives in Venezuela are able to get back on track, specifically with regard to allowing all presidential candidates to compete in this year’s election, we will not be in a position to renew General Licence 44, which provides relief to Venezuela’s oil and gas sector when it comes up for renewal in April,” the White House official said on condition of anonymity.
The official said the US was also considering additional, unspecified measures to punish the Venezuelan government.
White House national security spokesman John Kirby said earlier on Jan 29 that US measures would depend on Mr Maduro and his government.
“They’ve got till the spring to honour their commitments,” he told a daily briefing. “They’ve got decisions they have to make before we weigh what decisions we’ll take.”
Machado, a 56-year-old industrial engineer who overwhelmingly won an October opposition primary vote, said on Jan 29 she would not move aside in favour of a substitute.
“There is no retreat. We have a mandate and we will complete it,” Machado told a press conference in Caracas.
The ruling was “judicial crime,” she said, adding there will be many obstacles still to overcome but there will be elections this year.
Mr Jorge Rodriguez, a lawmaker who heads Mr Maduro’s team in negotiations with the opposition, said prior to the Treasury decision that if Washington took “any aggressive action,” Venezuela’s response would be “serene, reciprocal and energetic.”
Mr Maduro repeated the same rhetoric during his weekly television show on Jan 29 evening, without commenting directly on the Minerven decision. REUTERS
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https://www.straitstimes.com/world/united-states/us-begins-reimposing-sanctions-on-venezuela-oil-may-come-next
| 2024-01-30T02:32:30Z
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WASHINGTON - The US government in recent months launched an operation to fight a pervasive Chinese hacking operation that successfully compromised thousands of Internet-connected devices, according to two Western security officials and one person familiar with the matter.
The Justice Department and Federal Bureau of Investigation sought and received legal authorisation to remotely disable aspects of the Chinese hacking campaign, the sources told Reuters.
The Biden administration has increasingly focused on hacking, not only for fear nation states may try to disrupt the US election in November, but because ransomware wreaked havoc on Corporate America in 2023.
The hacking group at the centre of recent activity, Volt Typhoon, has especially alarmed intelligence officials who say it is part of a larger effort to compromise Western critical infrastructure, including naval ports, Internet service providers and utilities.
While the Volt Typhoon campaign initially came to light in May 2023, the hackers expanded the scope of their operations late last year and changed some of their techniques, according to three people familiar with the matter.
The widespread nature of the hacks led to a series of meetings between the White House and private technology industry, including several telecommunications and cloud commuting companies, where the US government asked for assistance in tracking the activity.
Such breaches could enable China, national security experts said, to remotely disrupt important facilities in the Indo-Pacific region that in some form support or service US military operations. Sources said US officials are concerned the hackers were working to hurt US readiness in case of a Chinese invasion of Taiwan.
China, which claims democratically governed Taiwan as its own territory, has increased its military activities near the island in recent years in response to what Beijing calls “collusion” between Taiwan and the United States.
The Justice Department and FBI declined to comment. The Chinese embassy in Washington did not immediately respond to a request for comment.
When Western nations first warned about Volt Typhoon in May, Chinese foreign ministry spokeswoman Mao Ning said the hacking allegations were a “collective disinformation campaign” from the Five Eyes countries, a reference to the intelligence sharing grouping of countries made up of the United States, Canada, New Zealand, Australia and the UK.
Volt Typhoon has functioned by taking control of swathes of vulnerable digital devices around the world - such as routers, modems, and even Internet-connected security cameras - to hide later, downstream attacks into more sensitive targets, security researchers told Reuters.
This constellation of remotely controlled systems, known as a botnet, are of primary concern to security officials because they limit the visibility of cyber defenders that monitor for foreign footprints in their computer networks.
“How it works is the Chinese are taking control of a camera or modem that is positioned geographically right next to a port or ISP (internet service provider) and then using that destination to route their intrusions into the real target,” said a former official familiar with the matter. “To the IT team at the downstream target it just looks like a normal, native user that’s sitting nearby.”
The use of so-called botnets by both government and criminal hackers to launder their cyber operations is not new. The approach is often used when an attacker wants to quickly target numerous victims simultaneously or seeks to hide their origins. REUTERS
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https://www.straitstimes.com/world/united-states/us-disabled-chinese-hacking-network-volt-typhoon-targeting-critical-infrastructure-sources-say
| 2024-01-30T02:32:40Z
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We see daily analyst upgrades and downgrades, coming with price targets. They can be helpful tools for investors, providing a more structured plan and helping to inject positivity surrounding future performance.
Of course, stocks don’t straightforwardly reach price targets, as unforeseen circumstances can always influence performance. Overall, the positive shift in sentiment can be seen as a primary takeaway from these upgrades.
Recently, three stocks – AbbVie (ABBV - Free Report) , Hershey (HSY - Free Report) , and Dollar Tree (DLTR - Free Report) – have all gotten favorable upgrades from analysts. Let’s take a closer look at each.
AbbVie
William Blair upgraded AbbVie shares to Outperform and provided a fresh $190 per share price target, which implies roughly 15% upside from today’s levels. It’s worth noting that the upgrade came just a few days before the company’s next quarterly release expected this Friday, February 2nd, before the market’s open.
AbbVie has been a consistent earnings performer as of late, exceeding our consensus revenue and EPS expectations in each of its last three releases. Concerning its latest print, the better-than-expected results were driven by a strong performance across its non-Humira growth platform, allowing the company to lift its guidance for FY23.
The company’s shareholder-friendly nature certainly can’t be overlooked, holding a spot in the elite Dividend Aristocrats club. ABBV shares presently yield a solid 3.8% annually paired with a sustainable payout ratio sitting at 50% of its earnings.
Image Source: Zacks Investment Research
Shares trade at a premium relative to historical levels, with the current 14.5X forward 12-month earnings multiple above the 9.1X five-year median. Still, the current multiple compares favorably to its Zacks – Large Cap Pharmaceuticals industry average of 18.9X.
Image Source: Zacks Investment Research
Hershey
Bernstein upgraded Hershey shares to Outperform, with its $235 price target suggesting more than 20% upside from current levels. Shares have had a rough showing over the last year, down roughly 12% and underperforming relative to the general market.
Like ABBV, Hershey carries a shareholder-friendly nature, currently sporting a 10% five-year annualized dividend growth rate.
Image Source: Zacks Investment Research
The company’s steady growth is slated to continue, with consensus expectations for its current year suggesting 12% earnings growth on 8% higher sales. Peeking ahead to FY24, estimates allude to an additional 3% of bottom line expansion paired with a 2.9% sales increase.
Image Source: Zacks Investment Research
Dollar Tree
JPMorgan upgraded Dollar Tree to Overweight and moved its price target up to $157 per share, implying 18% upside from current levels. Shares have displayed a modest amount of relative strength over the last three months, up 21% compared to the S&P 500’s impressive 18% gain.
Image Source: Zacks Investment Research
Consensus expectations for its next quarterly release suggest solid growth, with earnings forecasted to climb 13% year-over-year on 12% improved sales. Analysts have shown optimism for the release, taking the $2.66 Zacks Consensus EPS Estimate 3% higher since November.
Image Source: Zacks Investment Research
Bottom Line
Price targets can be helpful tools. Of course, it’s critical to note that not all stocks reach these forecasted levels, as unforeseen circumstances can always affect future performance.
Still, the positivity surrounding upgrades can be seen as a solid takeaway.
For those seeking stocks that analysts have recently received favorable coverage, all three above – AbbVie (ABBV - Free Report) , Hershey (HSY - Free Report) , and Dollar Tree (DLTR - Free Report) – precisely fit the criteria.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Dollar Tree, Inc. (DLTR) - free report >>
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https://www.zacks.com/stock/news/2217509/3-stocks-enjoying-favorable-analyst-coverage
| 2024-01-30T02:34:59Z
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Research Daily
Today's Must Read
User Growth, Instagram Strength Aids Meta Platforms (META)
Solid Insurance Business Aid Berkshire (BRK.B), Cat Loss Ail
Decent Comparable Sales Run to Fuel Costco's (COST) Top Line
Monday, January 29, 2024
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Meta Platforms, Inc. (META), Berkshire Hathaway Inc. (BRK.B) and Costco Wholesale Corporation (COST). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Meta Platforms shares have outperformed the Zacks Internet - Software industry over the past year (+168.0% vs. +65.0%). The company is benefiting from steady user growth across all regions, particularly Asia Pacific. Increased engagement for its offerings like Instagram, WhatsApp, Messenger and Facebook has been a major growth driver.
Meta Platforms is leveraging AI to recommend Reels content, which is driving traffic on Instagram and Facebook. Its innovative portfolio, which includes Threads, Reels and Llama 2, is likely to aid prospects.
However, challenging macroeconomic conditions remain a headwind for Meta’s advertising revenues, along with targeting and measurement headwinds due to Apple’s iOS changes. Slow monetization of Reels, along with mounting operating losses at Reality Labs, are concerns
(You can read the full research report on Meta Platforms here >>>)
Shares of Berkshire Hathaway have outperformed the Zacks Insurance - Property and Casualty industry over the past year (+25.4% vs. +21.4%). The company is one of the largest property and casualty insurance companies with numerous diverse business activities. A strong cash position supports earnings-accretive bolt-on buyouts and is indicative of its financial flexibility.
Continued insurance business growth fuels increase in float, drive earnings and generates maximum return on equity. The non-insurance businesses have also been doing well in the last few years. The addition of Pilot Travel Centers (PTC) has strengthened its energy business. A sturdy capital level provides further impetus.
However, exposure to cat loss induces earnings volatility and also affects the underwriting results. Huge capital expenditure remains a headwind. With the demise of Charles Munger, uncertainty looms over the company's performance.
(You can read the full research report on Berkshire Hathaway here >>>)
Costco Wholesale’s shares have outperformed the Zacks Retail - Discount Stores industry over the past year (+40.6% vs. +15.6%). The company being a consumer defensive stock, has been surviving the market turmoil pretty well. The discount retailer’s key strengths are strategic investments, a customer-centric approach, merchandise initiatives, and an emphasis on membership growth.
These factors have been helping it register decent sales and earnings numbers. This outlook reflects Costco’s ability to navigate the challenging operating environment, generate solid sales, and register high membership renewal rates.
A favorable product mix, steady store traffic, pricing power and strong liquidity position should help Costco keep outperforming. While trading at a premium to its peers, its long-term growth prospects should help the stock see a solid upside.
(You can read the full research report on Costco Wholesale here >>>)
Other noteworthy reports we are featuring today include Comcast Corporation (CMCSA), RTX Corporation (RTX) and PACCAR Inc (PCAR).
Director of Research
Sheraz Mian
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
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https://www.zacks.com/research-daily/2217106/top-research-reports-for-meta-platforms-berkshire-hathaway-costco-wholesale?-costco-wholesale
| 2024-01-30T02:38:37Z
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