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https://www.straitstimes.com/multimedia/st-picks-starting-cny-on-a-good-note
| 2024-01-30T22:32:24Z
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A short while ago, I was the recipient of a “lifetime achievement award” from the healthcare group that I worked in, and it was meant to recognise a corpus of successful things that I had done in my professional career.
The award also came with a weighty crystal trophy. Hefting it in my hand, I thought – somewhat grandiosely perhaps – of Percy Bysshe Shelley’s poem Ozymandias, of the once-great, ancient Egyptian pharaoh whose monumental statue had been reduced by the passage of time to a crumbling heap, with its visible inscription ironically proclaiming his greatness as the “King of Kings”.
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https://www.straitstimes.com/opinion/are-you-defined-by-the-success-you-find-at-work
| 2024-01-30T22:32:45Z
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I am flummoxed by the announcement that Woodlands Checkpoint will be expanded to five times its size (Woodlands Checkpoint expansion work to start in 2025, first phase to be completed by 2032, Jan 29).
A doubling or tripling of its operational capability would have been more realistic.
There are so many factors to be taken into account before this huge sum of money is spent on the project, including the completion of the Johor Bahru-Singapore rail link, and faster contactless clearance.
I agree there are improvements and adjustments to be made for faster Causeway clearance.
But decisions must be made with due consideration of all relevant factors.
We might not need improvements on such a grandiose scale, especially when there are periods of little activity at the checkpoint.
Gerald Lee
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https://www.straitstimes.com/opinion/forum/forum-does-woodlands-checkpoint-expansion-need-to-be-on-such-a-grand-scale
| 2024-01-30T22:32:55Z
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I would like to draw attention to the critical issue of fatigue management among migrant workers in the construction sector.
They play an indispensable role in building the nation and help in other ways too (Workers directed traffic to let ambulance pass, Jan 25).
We must acknowledge the challenges they face, especially in the current situation where the construction sector is ramping up efforts to meet timelines that were disrupted due to the Covid-19 pandemic, dengue timeout and persistent rainfall.
Many workers now work late-night shifts and some construction sites have been approved to carry out silent work on weekends and public holidays. While this is understandable, it is crucial to ensure that this does not compromise the well-being of the workers.
I am a pilot and we take safety very seriously as we are responsible for many lives. The lack of rest can result in a fatal decision or action that can result in a serious accident. We have learnt hard lessons in the aviation industry on how the lack of rest can affect human performance in flight.
Strict regulations are in place to manage duty periods and guarantee adequate rest for personnel to maintain high situational awareness when operating heavy machinery and working at heights.
Migrant workers also operate heavy machinery and work at heights, and it is thus crucial for them to keep themselves and others safe.
The harsh environmental conditions in Singapore further amplify the need for comprehensive fatigue management measures. To mitigate the risks associated with fatigue-related incidents, rest periods for migrant workers have to be meticulously regulated and guidelines stringently adhered to by the relevant authorities.
This not only safeguards the well-being of the workforce but also enhances overall safety in the construction sector.
It is our collective responsibility to ensure that the construction industry thrives while prioritising the health and safety of its workers. If employers attempt to incentivise workers with overtime pay while putting less focus on the issue of fatigue management, this could lead to severe consequences, including fatal accidents resulting from human factors related to insufficient rest.
Edwin Han Ruiguang
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https://www.straitstimes.com/opinion/forum/forum-make-sure-workers-are-well-protected-while-construction-works-are-ramped-up
| 2024-01-30T22:33:05Z
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On behalf of the Safety for Active Mobility Users group, I would like to extend our deepest sympathies to the Orlic family for the tragic loss of their daughter Zara (4-year-old girl dies in River Valley accident, woman arrested for careless driving, Jan 27).
We wish to draw attention to the problem, as raised by Dr Orlic, of speeding cars along Institution Hill towards River Valley Road.
They pose a significant risk to pedestrians, especially young children and the elderly.
In the light of this unfortunate incident, we urge the Land Transport Authority (LTA) to proactively address the issue of speeding along Institution Hill and similar streets in residential areas.
Considering the success of LTA’s Friendly Streets programme, which makes daily journeys in neighbourhoods safer for those walking or cycling, we propose an extension to include targeted measures to mitigate risks associated with speeding vehicles.
One potential avenue for risk mitigation involves minor infrastructure adjustments, such as having pinch points by extending curbs, and speed humps or chicanes.
These have proven effective in slowing vehicular traffic and ensuring safer streets for all users.
Acknowledging the challenges faced by the LTA in managing citywide traffic safety, we emphasise the need for swift action to prevent further accidents.
Implementing these simple measures can create an environment prioritising the safety of all road users, especially the most vulnerable.
Zhu Bingcheng
Co-founder
Safety for Active Mobility Users
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https://www.straitstimes.com/opinion/forum/forum-make-vehicles-slow-down-for-safer-streets
| 2024-01-30T22:33:16Z
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It is gracious of Transport Minister Chee Hong Tat to apologise to commuters for the “judgment error” made by the authorities in deciding to phase out older public transport payment cards for adults, underestimating how commuters want to continue seeing fare information and card balances. He promised that the authorities would learn from this episode and do better in future, and announced that adult ez-link cards which are not on the SimplyGo account-based system and Nets FlashPay cards can continue to be used for public transport fare payments until at least 2030. The Government will foot the estimated bill of $40 million needed for new equipment and hardware, as well as maintenance and operating costs, to keep the card-based ticketing system going for six more years. Thus, the bill will not have an impact on bus and train fares.
These concrete moves, and the forthrightness with which Mr Chee acknowledged the error of judgement, should mollify incensed commuters further after the Land Transport Authority (LTA) decided wisely to reverse its decision on the planned transition to SimplyGo. The concerns of dissenters to the switch were two-fold. First, passengers would no longer see fare deductions and card balances at fare gates and bus card readers, unlike in the old system. True, they could still view fare deductions and balances on a smartphone app or obtain fare information at ticketing machines.
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https://www.straitstimes.com/opinion/simplygo-u-turn-a-quick-lesson-in-public-policy
| 2024-01-30T22:33:27Z
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A 16-year-old male Singaporean, a Secondary 4 student at the time, was issued with a restriction order – which obliges him to observe several conditions – under the Internal Security Act (ISA) in November 2023. According to the Internal Security Department, investigations found that he had been radicalised by online far-right extremist propaganda. Although of Chinese ethnicity, the youth identified as a white supremacist, and aspired to conduct attacks overseas to further the white supremacist cause. The youth is the second Singaporean to be dealt with under the ISA for being radicalised by far-right extremist ideologies.
It is most disturbing that a 16-year-old Singaporean should fall prey to far-right extremist propaganda that espouses white supremacist, anti-Islam, xenophobic and anti-immigration beliefs. This shows the global scope of harmful online propaganda targeted at the demographic and cultural fears of white people that promotes an intense hatred of communities including African Americans, Arabs, and LGBTQ+ (lesbian, gay, bisexual, transgender and queer) individuals. The youth identified so deeply with the hatred that he was prepared to be recruited for violent attacks by white supremacist groups overseas to fight for white people. The pattern is similar to the extranational attraction exercised by extremist religious outfits that exploit faith-based affiliations among impressionable members of the religious community worldwide.
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https://www.straitstimes.com/opinion/st-editorial/keep-an-eye-on-right-wing-extremism
| 2024-01-30T22:33:37Z
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India’s 75th Republic Day, which was celebrated four days after the formal consecration of a spectacular Hindu temple on Jan 22 by Prime Minister Narendra Modi, is a moment to ponder upon the state of the nation and its future.
Post-independence India was born amid the bloodshed of 1947, when Pakistan was hived off as a homeland for Muslims. Republic Day commemorates the formal adoption of a Constitution that set the seal on India’s transition from a colonial dominion to a socialist, secular and democratic republic.
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https://www.straitstimes.com/opinion/the-indian-republic-at-75
| 2024-01-30T22:33:58Z
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In a few weeks from now, Taylor Swift will head to Singapore for the concerts in her Eras tour. If anyone had been worried that Covid-19 would lead to the end of the big concerts, her fans – the Swifties, as they are known – had proven otherwise.
Although my Singaporean students often complain about the rising prices of hawker food, many of them will be at the National Stadium in early March, having spent anywhere up to $1,000 for a coveted ticket. Others may opt to make a nice profit on the resale market, where some tickets are selling for several thousand dollars each.
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https://www.straitstimes.com/opinion/what-managers-can-learn-from-taylor-swift
| 2024-01-30T22:34:08Z
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SINGAPORE - Early on in negotiations with four armed terrorists who had bombed the Shell oil refinery on Pulau Bukom and hijacked a boat, the Internal Security Department (ISD) made an impossible ask.
The authorities needed volunteer officers in a proposed exchange for the crew members of the Laju, the ferry that the terrorists had taken at gunpoint on Jan 31, 1974, in a bid to escape Bukom after their bombing.
Despite fears for his safety, Mr Saraj Din, then a newly-wed 28-year-old officer with ISD’s counter-terrorism unit, put his hand up to be counted.
“I had to volunteer because I was the officer dealing with the case,” he said in an exclusive interview with The Straits Times to mark the 50th anniversary of the Laju incident.
The story of how the Laju ferry hijacking crisis was defused has been told through the eyes of commanders such as former president S R Nathan, and former commissioner of police Tee Tua Ba, but never from the perspective of a rank-and-file officer such as Mr Saraj.
While the hostage swop never came to fruition, it would not be the last time that the young officer put himself in harm’s way during the case, which was Singapore’s first encounter with international terrorism.
When negotiations were under way, officers found an abandoned car near Labrador Park that had been spotted at Taman Serasi in Tanglin. The car, which the authorities suspected belonged to the hijackers, yielded a set of keys to a flat in Taman Serasi.
A decision was made to storm the flat, but many officers were apprehensive. “They thought the place was booby-trapped, and there may be people inside and there could be a shoot-out,” said Mr Saraj.
He decided to volunteer for the operation, given that he “had a lot of experience with tight situations”, including the race riots that broke out after Singapore and Malaysia separated.
The flat was thankfully unoccupied during the raid, but ISD officers found plastic explosives and some documents, confirming their suspicions.
Meanwhile, negotiations with the terrorists stretched for days, during which two hostages escaped by jumping off the boat. In exchange for the remaining three hostages, the hijackers demanded safe passage on a flight to an Arab country, with a group of guarantors aboard to ensure their safety.
An agreement was reached only after another group of terrorists took the Japanese embassy in Kuwait hostage on Feb 6 and threatened to kill embassy staff unless the Japanese government sent a plane to take the Laju hijackers to Kuwait.
Mr Saraj was informed at about 5pm on Feb 7 to go home, get his passport and get ready to be taken to the airport. Shortly before 2am on Feb 8, a special Japan Airlines flight departed for Kuwait from Paya Lebar Airport with the four hijackers, 13 Singaporean guarantors, two Japanese officials and 12 Japan Airlines crew members.
The 13 were led by Mr Nathan, then director of the Security and Intelligence Division, the Republic’s foreign intelligence service, and included Mr Tee, who had led negotiations as officer-in-charge of the Marine Police (today’s Police Coast Guard), and Mr Saraj.
During the flight, Mr Saraj and the other guarantors sat themselves between the Japanese crew and the hijackers – two men who were from the Japanese Red Army, and two from the Popular Front for the Liberation of Palestine. Both groups were notorious for collaborating on aircraft hijackings and deadly attacks, including a 1972 massacre at Israel’s main airport that left 26 people dead.
The guarantors had to be alert and vigilant throughout the 10-hour flight, as they suspected that at least some of the aircrew were Japanese commandos.
Mr Saraj said: “We didn’t know if we would come back. Of course, I was worried that at any time something nasty could happen, but I kept myself calm.”
The one decision that still haunts him today was to leave without letting his pregnant wife know about his potential one-way trip. She was used to his long working hours, and had no clue he had left home that evening with his passport.
“She had told me just two weeks earlier that she was expecting our first baby, so it was quite sad to leave and not tell her,” he said, choking up. “I didn’t want to worry her because I was afraid she would get upset and lose the baby.”
When the plane finally touched down at Kuwait International Airport and the winter mist cleared, Mr Saraj was shocked to see the plane surrounded by army tanks and armed soldiers. Instructions from the air tower were that no one was allowed to alight.
Unbeknownst to him, the Kuwaiti authorities had allowed the plane to land on the condition that the terrorists stayed on the plane. The plane was to refuel and depart for another destination.
In his memoirs, Mr Nathan recounted the tough, hours-long negotiations with the Kuwaiti authorities for the guarantors to be allowed off the plane and to return to Singapore, having fulfilled their part of the deal.
At one point, the terrorists who had stormed the Japanese embassy arrived on the tarmac and boarded the plane fully armed with revolvers and grenades. With careful urging by Mr Nathan through Japanese officials, their ammunition was eventually stowed away.
“Mr Nathan managed to hold his ground... The good thing about him was that he was able to size up the situation and act accordingly,” said Mr Saraj.
Some time after, the guarantors were ordered off the plane and into waiting cars. Afraid that the hijackers might insist they be returned to the aircraft as hostages, in Kuwait City Mr Nathan gave each of the officers US$100 from the funds he had brought, and tasked them to disperse by going shopping.
Mr Saraj said the only thing he bought with the money was a US$10 bottle of perfume for his wife.
That evening, the Singaporeans boarded a Kuwaiti Airways plane to Bahrain, before returning to Singapore on Feb 9 on a Singapore Airlines flight.
Mr Saraj finally broke the news to his worried wife when he reached home. Tearing up again, he said: “She didn’t scold me; she said she was proud of me.”
Laju a turning point
Mr Saraj said much changed in the ISD after the Laju incident. Officers were better trained physically and had to keep abreast of geopolitical issues around the region.
“Laju was the turning point in our build-up of resources to handle such a situation, because an incident can happen any time and we must be prepared,” he said, noting that prior to the incident officers largely relied on their instincts and resourcefulness.
In the wake of the Laju hijacking, the police started the Negotiation Team to respond to terrorist and criminal hostage incidents.
Mr Saraj was one of the first officers to join the team and was involved in many security incidents, including the hijacking of Flight SQ117 in 1991, and an incident in 1996 when a drug trafficker and robber held two police officers hostage in a Criminal Investigation Department lock-up.
In 2002, the Negotiation Team was formalised as the Crisis Negotiation Unit (CNU) under the command of the police’s Special Operations Command (SOC). This arrangement was to foster greater responsiveness between the CNU and SOC units, such as the elite Special Tactics and Rescue Unit, said police.
After a storied career of more than 36 years, Mr Saraj left the police force in 1999 as an assistant superintendent of police. He became managing director of a private security firm before retiring in 2011.
Now a grandfather of three, Mr Saraj and his wife celebrated their 50th wedding anniversary in August 2023.
Mr Saraj said the 13 officials made a pact not to go public with their accounts of the Laju incident until Mr Nathan did, and the former president did so in his 2011 autobiography.
But just as the ISD still operates in the half-shadows to neutralise threats to Singapore, the steely-eyed veteran said he prefers to keep some parts of the mission untold.
“When I tell my children about my experiences and the cases I did, they say ‘Papa, you should write a book’,” he said. “But no, I think some things are still very sensitive and should be kept secret.”
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https://www.straitstimes.com/singapore/i-was-prepared-to-become-a-hostage-isd-officer-recounts-1974-laju-hijacking
| 2024-01-30T22:34:19Z
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SINGAPORE - Land plots underneath rail viaducts next to Yishun and Choa Chu Kang MRT stations may be leased out for commercial or community use in the coming years, if a study shows such a project is viable.
The Land Transport Authority (LTA) called a tender on Jan 19 for a property valuer to assess open market rental rates for the two sites in Yishun and Choa Chu Kang, each measuring about 5,000 sq m in land area.
The site in Yishun is a narrow strip of land starting near Block 749 Yishun Street 72 and ending near Block 757 on the same street.
The space in Choa Chu Kang is split into three plots – one near Keat Hong Community Club, another near Block 346 Choa Chu Kang Loop, and a final segment near Block 345 Choa Chu Kang Loop.
Responding to queries, LTA said it and the Ministry of Transport are exploring the possible use of sites next to MRT stations as part of efforts to increase vibrancy around the stations.
The study is still at an early stage, so issues such as land ownership will be considered later if LTA decides to, or is able to, proceed with the project, it added.
According to tender documents, the land plots in Yishun and Choa Chu Kang earmarked for the study comprise state land and Housing Board-owned land.
The plots are also managed by various government agencies. At the Yishun site, for instance, there is a park connector running through it that the National Parks Board oversees.
Asked about the commercial or community purposes it envisages the sites will be used for, LTA said it plans to consult stakeholders such as relevant government agencies, social and business entities, and local grassroots advisers, if it decides to proceed with the project.
According to tender documents, LTA’s plan is to lease out each site to a prospective operator, who will pay rent to the authority and sublet spaces at each location to tenants.
The prospective operator will have to bear the cost of civil, electrical and mechanical works to fit out the site, so that it is in a rentable condition. These works are estimated to cost $7.04 million for each location.
LTA said in its tender that the rent it intends to charge will correspond to the value of each site, and take into account the project term and capital expenditure borne by the operators.
The plan is for construction at the two sites to start in January 2025 and last until 2027. The sites will be occupied for a minimum of 10 years and a maximum of 20 years, inclusive of the two-year construction period.
The appointed property valuer is expected to provide LTA with analysis and advice on open-market rental rates for the two sites, based on these parameters and overall market conditions.
The valuer will also have to carry out a comparative study of equivalent properties.
In its reply to The Straits Times, LTA noted that similar projects under viaducts have been introduced successfully in countries such as Japan.
One example is the Koganecho area in Yokohama, where a 100m stretch of land beneath a train overpass was turned into a meeting space, an open-air piazza, an art studio, an art gallery and a cafe, among other things.
It is not the first time LTA has mooted repurposing the space underneath rail viaducts.
In 2022, for instance, it proposed turning a section of the rail viaduct near Tanah Merah MRT station – and the space below it – into a green corridor for walking and cycling after the 1km stretch is withdrawn from use in 2026.
In November 2023, LTA made an open call for ideas from the public, and the agency is in the process of reviewing submissions.
In addition, the authority is looking at how it can repurpose Changi Depot, which houses trains, after it is replaced by the upcoming East Coast Integrated Depot for trains and buses in 2025. Ideas for this were also sought during the 2023 open call.
Mr Michael Leong, deputy chief executive of architectural firm SAA Architects, said that leveraging underutilised spaces beneath rail viaducts is a step in the right direction, considering Singapore’s land scarcity.
“There are exciting opportunities to create inclusive spaces that cater to a diverse range of activities and users, such as flea markets, art galleries, farming plots, or social enterprises,” he added.
Ms Ray Krishna, head of the Singapore smart mobility department at consultancy firm Ramboll, said the rent for such spaces under viaducts may be more affordable for small businesses that are just starting out and testing their commercial viability.
“From a safety aspect, these areas will no longer be quiet and gloomy when they have a purpose,” she added.
Chua Chu Kang GRC MP Zhulkarnain Abdul Rahim welcomed LTA’s plans to develop the spaces underneath rail viaducts in his Keat Hong ward, as this will maximise their use.
He pointed to existing infrastructure such as a water playground underneath the LRT viaduct near Keat Hong Community Club and the pop-up space next to it, where young people can learn about science, technology, engineering, art and mathematics.
He also noted that the LRT and MRT viaducts in Choa Chu Kang connect to Tembusu Park, which is being rejuvenated.
“There is potential to create a seamless corridor of community and commercial spaces,” he said.
Nee Soon GRC MP Muhammad Faishal Ibrahim said that LTA’s project will complement plans to rejuvenate Nee Soon, noting that the proposed Yishun site is near key transport nodes with high foot traffic.
“It is a smart way to turn dead space into something functional and new – a place for people to come together, make new friends and strengthen existing bonds,” added Associate Professor Faishal, who is also Minister of State for Home Affairs and National Development.
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https://www.straitstimes.com/singapore/transport/lta-mulls-over-leasing-out-land-under-mrt-viaducts-for-commercial-community-use
| 2024-01-30T22:34:50Z
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NOTTINGHAM, England - Arsenal ended a barren run on the road as goals from Gabriel Jesus and Bukayo Saka beat Nottingham Forest 2-1 to close to within two points of Liverpool at the top of the Premier League on Jan 20.
Jesus had the assistance of former Arsenal goalkeeper Matt Turner to break the deadlock as the American let the Brazilian’s shot from a narrow angle slip through his legs.
Saka then rounded off a blistering counter-attack from the visitors and Taiwo Awoniyi’s late strike was too little, too late for the home side.
Mikel Arteta’s men had not won away from home since early December as their title challenge stumbled over the festive period.
But Arsenal kept the pressure up on Liverpool with the two sides set to face off at the Emirates on Feb 4.
Forest had won all of the previous three meetings between the sides at the City Ground, including the defeat that mathematically ended Arsenal’s title challenge last season.
But Nuno Espirito Santo opted to just try and contain Arsenal and Forest’s gameplan was undone once Jesus broke the deadlock 25 minutes from time.
The lack of a clinical striker has been pinpointed as the weakness in the Gunners’ bid for a first Premier League title in 20 years.
For long spells, it appeared the Arsenal could again rue the absence of a natural goalscorer as they struggled to make 80 per cent possession count before half-time.
Jesus fired against the post with his first big chance early in the second half after an inviting flick from Martin Odegaard played him through.
Turner then unconvincingly parried from Saka’s shot across goal as the Arsenal pressure built.
They finally got their reward as Forest switched off from Oleksandr Zinchenko’s throw-in.
Jesus burrowed his way down the by-line but his effort should have been stopped at his near post by Turner.
Forest were architects of their own downfall again seven minutes later as Gonzalo Montiel’s stray pass straight into the path of Odegaard sprang Arsenal on the break.
Odegaard picked out Jesus, who crossed for Saka to take a touch before firing in his 10th goal of the season.
Arsenal were cruising to victory as Forest had barely offered a threat all game until Awoniyi outmuscled William Saliba and fired home from close range in the 89th minute.
Awoniyi was then denied a dramatic equaliser deep into stoppage time by David Raya after Arsenal failed to clear a corner.
The Nigerian’s return for the first time since November offers his side hope in their battle to survive.
But defeat leaves Forest perilously placed just two points above the relegation zone and with the threat of a points penalty hanging over the club after admitting to breaches of the Premier League’s financial rules last season. AFP
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https://www.straitstimes.com/sport/football/arsenal-climb-to-second-with-win-over-forest
| 2024-01-30T22:35:00Z
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LONDON - Struggling duo Fulham and Everton fought out a 0-0 Premier League draw at Craven Cottage on Jan 30, with the visitors lucky to escape with a potentially precious point after being under sustained pressure in an all-action second half.
Both teams came into the match on the back of dire league runs, both also going out of the FA Cup at the weekend, and that lack of form showed in a cagey first half when the best chances came via deflections that were cleared off the line at either end.
It was far livelier after the break, with both teams hitting the woodwork and Everton keeper Jordan Pickford making a brilliant save to keep out a Tosin Adarabioyo header as Fulham produced a series of attacks, but without quite managing the killer final touch.
The result, combined with Luton’s big victory over Brighton, dragged Everton back into the relegation zone as their 10-point deduction begins to weigh heavily again after initially seeming to spur them into a hot streak before Christmas. REUTERS
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https://www.straitstimes.com/sport/football/everton-escape-fulham-with-a-point-but-drop-into-bottom-three
| 2024-01-30T22:35:11Z
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LUTON, England - Luton Town thrashed Brighton & Hove Albion 4-0 to move out of the Premier League relegation zone with Elijah Adebayo scoring a hat-trick after the Hatters went two goals up inside the first three minutes at Kenilworth Road on Tuesday.
Adebayo opened his tally with a header from close range after just 20 seconds before speedy winger Chiedozie Ogbene made it 2-0 after two minutes and 17 seconds.
Adebayo fired in his second of the night at the near post in the 42nd before completing his first top flight treble off a corner in the 56th.
In the history of the Premier League only Leicester City, in the opening two minutes against Derby County in 1998, had reached 2-0 quicker than Luton, who started the season as favourites for a quick return to the second tier.
The defeat left Brighton in eighth, level on 32 points with ninth-placed Manchester United, while Luton climbed one spot to 17th, a point clear of Everton who drew 0-0 at Fulham.
The evening had an emotional start before kickoff when Luton captain Tom Lockyer, recovering from a cardiac arrest during a match last month, walked around the pitch saluting the applauding crowd. REUTERS
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https://www.straitstimes.com/sport/football/lutons-adebayo-scores-first-top-flight-hat-trick-in-brighton-mauling
| 2024-01-30T22:35:22Z
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BRASILIA - The Brazilian Air Force said on Tuesday it fired warning shots at a plane and forced it to land for violating a no-fly ban over the Yanomami Indigenous reservation where illegal gold miners have been returning despite federal efforts to keep them away.
Two bursts of machine gun fire were fired during the interdiction on Monday to warn the pilot of the unregistered plane - a single-engine Cessna 182 - to change course and land, according to a video released by the Air Force.
Shortly after landing on an earthen airstrip, the pilot escaped into the rainforest, evading Federal Police who had arrived to seize the plane, an Air Force Statement said.
It was not clear whether the plane was involved in illegal gold mining, that has resumed in the vast protected reservation the size of Portugal, despite a government operation last year to remove some 20,000 illegal wildcat miners.
The Air Force has been criticized for not enforcing the no-fly zone ordered by the government of President Luiz Inacio Lula da Silva on Jan. 30 last year.
As Brazil's military scaled back support for the government crackdown, the gold-seeking miners have come back, deepening a humanitarian crisis that is killing the Yanomami from flu, malaria, malnutrition and violence in the isolated Amazon rainforest.
Environmental enforcers told Reuters in December that unregistered planes were flying miners back into the reservation due to the ineffective ban on flights. REUTERS
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https://www.straitstimes.com/world/brazil-intercepts-illegal-flight-over-indigenous-land-invaded-by-gold-miners
| 2024-01-30T22:35:32Z
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WASHINGTON - A deep sea exploration company has released a sonar image they say may be the remains of the plane of Amelia Earhart, the famed American aviatrix who disappeared over the Pacific Ocean in 1937.
Deep Sea Vision (DSV), a South Carolina-based firm, said the image was captured after an extensive search in an area of the Pacific to the west of Earhart’s planned destination, remote Howland Island.
Earhart went missing while on a pioneering round-the-world flight with navigator Fred Noonan.
Her disappearance is one of the most tantalising mysteries in aviation lore, fascinating historians for decades and spawning books, movies and theories galore.
The prevailing belief is that Earhart, 39, and Noonan, 44, ran out of fuel and ditched their twin-engine Lockheed Electra in the Pacific near Howland Island while on one of the final legs of their epic journey.
DSV said the blurry image captured by an unmanned underwater submersible at a depth of 16,000 feet (5,000m) using side scan sonar “reveals contours that mirror the unique dual tails and scale of her storied aircraft.”
“We always felt that she would have made every attempt to land the aircraft gently on the water, and the aircraft signature that we see in the sonar image suggests that may be the case,” DSV chief executive Tony Romeo said in a statement.
DSV said the exploration team spent 90 days searching 13,500 sq km of the Pacific Ocean floor, “more than all previous searches combined.”
DSV said it is keeping the exact location of the find confidential for now and is planning further search efforts.
But Mr Romeo said the discovery was made applying what is known as the “Date Line theory” first advanced in 2010 by Liz Smith, a former Nasa employee.
This theory posits that Noonan forgot to turn the calendar back a day as they flew over the International Date Line, resulting in a miscalculation of his celestial star navigation and a westward navigational error of 100km.
Earhart, who won fame in 1932 as the first woman to fly solo across the Atlantic, took off on May 20, 1937, from Oakland, California, hoping to become the first woman to fly around the world.
She and Noonan vanished on July 2, 1937 after taking off from Lae, Papua New Guinea, on a challenging 4,000km flight to refuel on Howland Island, a speck of a US territory between Australia and Hawaii.
They never made it. AFP
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https://www.straitstimes.com/world/united-states/deep-sea-explorer-says-may-have-found-amelia-earharts-plane
| 2024-01-30T22:35:43Z
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Biden decides how to respond to attack on US troops
US President Joe Biden said on Jan 30 he has made up his mind on how to respond to a drone attack that killed US service members in Jordan, as he weighs punishing Iran-backed militias without triggering a wider war.
Mr Biden, speaking to reporters as he left the White House on a campaign trip to Florida, did not elaborate on his decision, which came after consultations with top advisers at the White House.
But Mr John Kirby, the White House national security spokesman, told reporters aboard Air Force One as Mr Biden flew to Florida that the United States could respond more than once.
“It’s fair for you to expect that we will respond in an appropriate fashion and it is very possible that what you’ll see is a tiered approach here, not just a single action, but essentially multiple actions,” he said.
Israel flooding Gaza tunnels to halt Hamas attacks
The Israeli army said on Jan 30 it is channelling water into Gaza’s tunnels in a bid to destroy the sprawling underground network used by Hamas militants to launch attacks on Israel.
“It is part of a range of tools deployed by the IDF (Israeli army) to neutralise the threat of Hamas’ subterranean network of tunnels,” the military said in a statement, confirming media reports.
Dubbed “the Gaza metro” by the Israeli army, there were 1,300 tunnels over 500km in Gaza at the start of the war in October, according to a study from US military academy West Point.
Swift love affair sparks Republican conspiracy theory mania
You knew Taylor Swift was influential, but Republicans are now crediting the singer with James-Bond-villain-level powers in a wacky conspiracy theory claiming the singer’s romance with NFL star Travis Kelce is really a plot to rig the Super Bowl and get President Joe Biden reelected.
The relationship between the pop powerhouse and the Kansas City Chiefs tight end has gripped the nation for weeks, with TV cameras repeatedly panning from the field during the team’s surging NFL season to a cheering Swift in the stands.
Fascination peaked this weekend when the Chiefs defeated the Baltimore Ravens to book their berth in February’s Super Bowl and, in the midst of celebrations, Swift descended onto the field to kiss Kelce, fresh from playing one of the best games of his life.
Deep sea explorer may have found Amelia Earhart’s plane
A deep sea exploration company has released a sonar image they say may be the remains of the plane of Amelia Earhart, the famed American aviatrix who disappeared over the Pacific Ocean in 1937.
Deep Sea Vision (DSV), a South Carolina-based firm, said the image was captured after an extensive search in an area of the Pacific to the west of Earhart’s planned destination, remote Howland Island.
Earhart went missing while on a pioneering round-the-world flight with navigator Fred Noonan.
South Korea reach Asian Cup quarter-finals
Son Heung-min’s South Korea came back from the dead to beat Saudi Arabia 4-2 on penalties on Jan 30 and set up an Asian Cup quarter-final with Australia.
After a nail-biting game ended 1-1, Hwang Hee-chan scored the decisive penalty for Jurgen Klinsmann’s side, who are aiming to end a 64-year Asian Cup title drought.
South Korea goalkeeper Jo Hyeon-woo was the hero in Doha, saving penalties from Sami Al-Najei and Abdulrahman Ghareeb in the shootout.
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https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-jan-31-5
| 2024-01-30T22:35:54Z
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SINGAPORE – It was a regular Saturday afternoon in April 2017 when Mr Huang Junjie took his daughter for a swim at Safra Punggol. But what unfolded that evening turned into a nightmare for him and his wife.
Hours after the swim, Huang Siqing, then aged four, developed a fever that peaked at 41 deg C.
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https://www.straitstimes.com/life/i-thought-i-was-going-to-lose-her-says-father-of-girl-with-rare-condition?utm_campaign=STPicks
| 2024-01-30T22:36:46Z
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The giving of hongbao is one of the most iconic traditions during Chinese New Year in Singapore.
It is a token of good luck and blessings…
and the money placed inside the paper packets are usually crisp new notes or so-called “fit-for-gifting” used notes that are in suitably good condition.
About a month before Chinese New Year each year, the Monetary Authority of Singapore (MAS) announces the dates that selected banks would have these notes available for exchange.
UOB designated 19 ATM locations, 17 for new notes and two for fit-for-gifting notes, in 2024 for withdrawal from Jan 24 till Feb 6.
On the first day when fresh $2, $10 and $50 notes were made available, the selected ATMs were toggled to “Chinese Year New mode”, limiting customers to two withdrawals per ATM card or debit card a day.
Six options in fixed sets for each denomination or a combination of denominations are available for withdrawal: 50 pieces of $2 notes, for instance, or 10 or 16 pieces of $50 notes.
The $2 notes are offered at the special UOB ATMs only during CNY.
On the first day, about 10 people were already in the queue by 8.30am at the bank branch in Fu Lu Shou Complex, where two ATMs dispense new notes between 9am and 7.30pm.
The crisp new notes are first prepared by security services company Certis, which repacks the notes received from MAS into special cassettes.
Employees at Certis’ cash processing centre have to wear pocketless overalls that are locked at the collar which only security guards can open.
Staff are thoroughly checked as they leave, to make sure no theft has taken place.
The ATM cassettes are separated by denomination and loaded onto vans that make their rounds to replenish various ATMs around the island.
Each vehicle is fitted with a GPS Global Positioning System device and the Certis Secure Logistics Operations Monitoring Centre tracks their entire route.
If an ATM runs dry, UOB informs Certis to send new cassettes of cash.
At the same time, UOB has a dedicated public website that tracks the note levels of the special ATMs, with green denoting a healthy stock, yellow for low, and red to notify customers that the notes have run out.
Cash replenishment involves a minimum of two Certis officers (below) – a transaction officer switches out the empty cassettes for new ones, while a guardsman stands by the side to make sure the process goes uninterrupted.
While the loading and transportation of the cassettes are under Certis’ responsibility, UOB makes sure that the ATMs are in order.
Since usage is higher during this period, each ATM is cleaned around 10 times a day, twice as often as on a normal business day.
Field engineers from an ATM maintenance vendor are also on standby around the island, and they are activated if the machines encounter any problems, such as stuck notes.
The occasional misaligned cassette or notes are too tightly packed together – an issue usually associated with new notes – can be behind such problems.
CLOSED FOR THE DAY
These special ATMs are shut off at 7.30pm for checks and new notes to be topped up for the next day.
During this period, UOB stations digital advocates at its branches that are dispensing new and good-as-new notes to not only assist customers, but to encourage them to adopt the more environmentally friendly option of giving electronic hongbao.
Carbon footprint of new notes
Around 100 million new notes are issued annually for festive gifting. A majority of these notes are used only once and then deposited into bank accounts after Chinese New Year. While most of the returned notes are recirculated to meet public demand, such as to replace unfit notes, the volume of returned notes far exceeds replacement needs. The excess notes are subsequently destroyed.
According to MAS, issuing these excess new notes annually results in unwarranted carbon emissions equivalent to powering 430 four-room Housing Board flats annually. It requires planting 10,000 new trees to offset these emissions.
Last Chinese New Year, over 11 million pieces of fit-for-gifting notes were exchanged by members of the public. This resulted in emissions savings equivalent to the annual emissions from powering about 220 four-room flats.
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https://www.straitstimes.com/multimedia/graphics/2024/01/cny-hongbao-new-notes-singapore/index.html?shell
| 2024-01-30T22:36:57Z
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Switch vs DS Sales Comparison - December 2023 - Sales
by William D'Angelo , posted 5 hours ago / 1,311 ViewsThe VGChartz sales comparison series of articles are updated monthly and each one focuses on a different sales comparison using our estimated video game hardware figures. The charts include comparisons between the PlayStation 5, Xbox Series X|S, and Nintendo Switch, as well as with older platforms. There are articles based on our worldwide estimates, as well as the US, Europe, and Japan.
This monthly series compares the aligned worldwide sales of the Nintendo Switch and the Nintendo DS.
The DS launched in November 2004 in North America, December 2004 in Japan, and March 2005 in Europe, while the Nintendo Switch launched worldwide in March 2017. Therefore, the holiday periods for the two consoles do not lineup, which is why there are big increases and decreases.
Switch Vs. DS Global:
Gap change in latest month: 2,672,043 - Switch
Gap change over last 12 months: 672,266 - DS
Total Lead: 10,374,531 - DS
Switch Total Sales: 136,258,010
DS Total Sales: 146,632,541
December 2023 is the 82nd month that the Nintendo Switch has been available for. During the latest month, the gap grew in favor of the Switch by 2.67 million units when compared to the DS during the same timeframe.
In the last 12 months, the DS has outsold the Switch by 0.67 million units. The DS is ahead of the Switch by 10.37 million units.
The 82nd month on sale for the Nintendo Switch is December 2023, while for the DS it is August 2011. The Switch has sold 136.26 million units, while the DS sold 146.63 million units during the same timeframe.
The Nintendo DS sold 154.02 million units lifetime. The Nintendo Switch is currently 17.76 million units behind the lifetime sales of the DS.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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Gonna be a close race for sure. Pretty much inevitable that at the very least the Switch will be less than 10 Million away from the DS.
From here on out, apart from the little holiday boost in a couple months it should all go in favor of the Switch. After said holidays the DS will only sell an additional 5M units; Switch will probably sell almost twice that this year alone.
Finally!
In April of 2023, which is the 74th month, the DS had just finished its holiday sale of 2010. It was ahead by 15.4M units. Looking at the graph until October 2023, which is the 80th month, the Switch was entering its holiday sale, and had a positive gain of 1.2M units, for a total of -14.1M units.
In that time from Apr-Oct the DS sold 5M units, and the Switch sold 6.2M units.
(Im only gonna focus on Switch's April-October because those months are the most steady and reliable)
The DS's equivalent on the graph to Apr-Oct 2024, so Jan-July 2012 sold 1.44M units
I am making an assumption that the Switch will sell rather close to its 2017 Apr-Oct counterpart, selling around 4.9M units.
Switch will sell an increase of +3.46M compared to DS (4.9-1.44) for the time slot of Apr-Oct 2024 comparison charts.
Switch will sell just below 3M units for Jan-Mar (probably 2.7M).
Thus Switch will have sold about 7M units in 2024 when October comparison charts arrive, with the DS selling 4.62M units from Sept 2011-July 2012. Switch will have a comparison increase of +2.38M in 2024 with a DS total lead of 8M when the Oct comparison charts arrive.
Okay long story short, at the end of October this will be the sales total
DS 151.25M
Switch 143.25M
Looking the first graph, the Switch is almost on the same spot it was 12 months ago
I’m still not convinced. It’ll be close though. Crazy that DS still widened the gap by a little bit over the past 12 months. Should have been the final time it won though but who knows.
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https://www.vgchartz.com/article/459687/switch-vs-ds-sales-comparison-december-2023/
| 2024-01-30T22:37:05Z
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A short while ago, I was the recipient of a “lifetime achievement award” from the healthcare group that I worked in, and it was meant to recognise a corpus of successful things that I had done in my professional career.
The award also came with a weighty crystal trophy. Hefting it in my hand, I thought – somewhat grandiosely perhaps – of Percy Bysshe Shelley’s poem Ozymandias, of the once-great, ancient Egyptian pharaoh whose monumental statue had been reduced by the passage of time to a crumbling heap, with its visible inscription ironically proclaiming his greatness as the “King of Kings”.
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https://www.straitstimes.com/opinion/are-you-defined-by-the-success-you-find-at-work?utm_campaign=STPicks
| 2024-01-30T22:37:07Z
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The Last of Us Part II Remastered Debuts in 1st on the Australian Charts - Sales
by William D'Angelo , posted 6 hours ago / 595 ViewsThe Last of Us Part II Remastered has debuted in first place on the Australian charts, according to IGEA for the week ending January 21, 2024.
Prince of Persia: The Lost Crown, the one other new release in the top 10, debuted in second place.
EA Sports FC 24 remained third place, Call of Duty: Modern Warfare III is down two spots to fourth place, and Grand Theft Auto V fell from first to fifth place. Hellblade: Senua's Sacrifice and Hogwarts legacy re-entered the top 10 in sixth and seventh places, respectively.
Super Mario Bros. Wonder dropped three spots to eighth place, Minecraft (NS) re-entered the top 10 in ninth place, and NBA 2K24 rounds out the top 10.
Here are the top 10 best-selling titles in Australia for the week:
- The Last of Us Part II Remastered - NEW
- Prince of Persia: The Lost Crown - NEW
- EA Sports FC 24
- Call of Duty: Modern Warfare III
- Grand Theft Auto V
- Hellblade: Senua's Sacrifice
- Hogwarts Legacy
- Super Mario Bros. Wonder
- Minecraft (NS)
- NBA 2K24
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459773/the-last-of-us-part-ii-remastered-debuts-in-1st-on-the-australian-charts/
| 2024-01-30T22:37:12Z
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SINGAPORE – Rats are not the only ones wreaking havoc this rainy season – mould has been making an appearance in homes, including on furniture, ceilings and walls.
Three mould removal companies The Straits Times spoke to have seen a surge in the number of inquiries since the start of December 2023, attributing the rise to higher humidity because of frequent heavy showers.
EcoSense has seen an estimated 40 per cent increase in inquiries as at the second-last week of January, compared with the first week of December, said its director Thomas Lou, 38.
Mr Andrew Mantle, 56, sales manager and leading inspector of Mouldgone, said inquiries have risen about 47 per cent compared with the start of December.
Mr James Chua, 39, owner of Mold Medic, said the business has received 10 times the number of inquiries compared with the start of December, and the number of cases it took on increased from 35 in November 2023 to 97 in January.
Even without the recent downpours, Singapore has ideal conditions for mould growth.
As mould requires relative humidity of above 60 per cent to grow, said Mr Chua, Singapore’s average relative humidity of 82 per cent creates a conducive environment for the fungus to thrive.
The situation is exacerbated when prolonged periods of rain push relative humidity to 100 per cent, which means the air is fully saturated with moisture.
“We’re going to places we’ve not been to in the past,” said Mr Mantle. Before the rainy season, he said, the cases Mouldgone took on were mostly in areas near water, like Punggol. This was because of higher levels of moisture in the air in such areas. However, he is now going “all around the island”.
The severity of cases has also increased. Mould growth that used to be confined to bathroom ceilings now extends to entire bedrooms, living rooms and hallways, he added.
“Mould is able to replicate itself every 12 to 24 hours, so we’re getting these big fungal blooms in people’s homes and workplaces,” said Mr Mantle.
Mould’s primary purpose is to break down organic matter such as dust on walls and organic material found in some types of paint, so damp walls are able to support large mould growth.
When Mr Zahir Latif, 39, and his fiancee returned home from a three-week holiday in early January, they found mould spread over his wooden shoe cabinet and doors.
“When we came back and noticed the mould on the shoe cabinet, we had to deal with it immediately because we have four cats,” said the user experience designer. His cats were at home with a cat-sitter during those three weeks, and he was worried that they could have ingested the mould and might fall ill.
His non-wooden belongings were not spared. He soon found mouldy white patches on his mousepad, caps and the leather on his headphones.
He also believes that the mould exacerbated his fiancee’s eczema, causing her skin to feel drier and more itchy.
Mould releases allergens that are harmless to most people, but can trigger allergic reactions like itchy skin, wheezing, runny nose and asthma in others, said Dr Loh Jia Tong, 35, an assistant professor from Nanyang Technological University’s School of Biological Sciences.
“When we inhale these particles from the mould, they will enter our respiratory tracts. In predisposed individuals, their immune systems will overreact.”
This can result in asthma or allergic rhinitis, an inflammation of the inside of the nose. If contact is made through skin, it can result in eczema, Dr Loh said.
Children and the elderly are also more susceptible to mould’s effects.
As children have immature immune systems, they are more prone to developing allergies in a mouldy environment, while the elderly suffer more serious symptoms such as more severe asthma attacks, Dr Loh said.
Expert tips on mould prevention
“The best thing you can do is to run a dehumidifier and run it daily,” said Mr Mantle. “There is no point running a dehumidifier in a room once a week or once a fortnight.”
Electric dehumidifiers should be run for an hour or two in an enclosed room every day, he added.
Another way, Mr Lou said, is to let sunlight enter rooms, as ultraviolet rays can eliminate airborne pathogens like mould.
UVC, one of three types of ultraviolet rays found in sunlight, penetrates the cells of mould and damages its DNA, preventing it from reproducing. Therefore, leaving your home’s curtains open before setting off on an overseas trip is a good idea.
Keeping homes, especially areas such as bathrooms and kitchens, well ventilated can also help prevent mould, as this allows accumulated moist air in these areas to escape.
Home owners can leave fans turned on when they are going away for some time, said Mr Mantle. As mould thrives in still air, improving the airflow will stop it from growing.
For home owners whose air-conditioners can be remotely controlled through mobile applications, Mr Chua suggested turning them on for two hours daily to reduce air moisture and improve airflow.
Mr Mantle also advised storing leather goods and clothes that are not worn often – like winter jackets – in vacuum sealer bags and regularly opening and resealing the bags.
He added that it helps to place moisture absorbers in cupboards and wipe wooden furniture with antifungal products when cleaning.
Dealing with mould
White vinegar is a popular home remedy. However, vinegar with acetic acid levels that are too low is ineffective, especially when it is diluted with water, according to Mr Mantle.
Compared with white vinegar, which typically contains 5 per cent acetic acid, cleaning vinegar with 6 per cent acetic acid would be more effective.
If mould is on expensive leather products, consider getting a professional to remove it instead of using vinegar or baking soda – this will minimise the risk of damage to the leather. For non-leather bags like sports bags, Mr Mantle recommended applying fungicides. Off-the-shelf fungicides include bleach-based products.
However, where mould growth is extensive or in difficult-to-reach areas such as ceilings, Mr Chua suggested consulting mould removal specialists.
Specialists use different methods to remove mould.
Anti-microbial misting is one method they use to eliminate mould in the air or hidden within walls. Disinfection machines that emit intense UVC rays are also used. A coat of anti-mould paint is also commonly applied to prevent mould from reappearing.
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https://www.straitstimes.com/singapore/mould-cases-on-the-rise-during-rainy-season?utm_campaign=STPicks
| 2024-01-30T22:37:18Z
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The Last of Us Part II Remastered Tops the New Zealand Charts - Sales
by William D'Angelo , posted 6 hours ago / 781 ViewsThe Last of Us Part II Remastered has debuted in first place on the New Zealand charts, according to IGEA for the week ending January 21, 2024.
Prince of Persia: The Lost Crown, the one other new release in the top 10, debuted in fifth place.
Hellblade: Senua's Sacrifice re-entered the top 10 in second place, while Call of Duty: Modern Warfare III remained in third place. Grand Theft Auto V fell from first to fourth place and Grand Theft Auto Online fell from second to ninth place.
EA Sports FC 24 dropped two spots to sixth place, and Hogwarts Legacy re-entered the top 10 in seventh place. NBA 2K24 dropped one spot to eighth place and Avatar: Frontiers of Pandora rounds out the top 10.
Here are the top 10 best-selling titles in New Zealand for the week:
- The Last of Us Part II Remastered - NEW
- Hellblade: Senua's Sacrifice
- Call of Duty: Modern Warfare III
- Grand Theft Auto V
- Prince of Persia: The Lost Crown - NEW
- EA Sports FC 24
- Hogwarts Legacy
- NBA 2K24
- Grand Theft Auto Online
- Avatar: Frontiers of Pandora
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459774/the-last-of-us-part-ii-remastered-tops-the-new-zealand-charts/
| 2024-01-30T22:37:18Z
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Enshrouded, Tekken 8, and Like a Dragon: Infinite Wealth Debut Steam Charts - Sales
by William D'Angelo , posted 6 hours ago / 605 ViewsPalworld has remained in first place on the Steam Weekly Top Sellers chart (excluding revenue generated by free games) for Week 5, 2024, which ended January 30, 2024.
There were three new releases in the top 10 this week. Enshrouded debuted in second place, Tekken 8 debuted in third place, and Like a Dragon: Infinite Wealth debuted in fifth place.
Steam Deck dropped two spots to fourth place, EA Sports FC 24 fell three spots to sixth place, and Call of Duty fell from sixth to seventh place. Baldur's Gate 3 is down from fifth to eighth and Lethal Company dropped from fourth to ninth place. Monster Hunter: World rounds out the top 10.
Here are the Steam Weekly Top Sellers by revenue for the week (excluding free games):
- Palworld
- Enshrouded - NEW
- Tekken 8 - NEW
- Steam Deck
- Like a Dragon: Infinite Wealth - NEW
- EA Sports FC 24
- Call of Duty
- Baldur's Gate 3
- Lethal Company
- Monster Hunter: World
Here are the Steam Weekly Top Sellers by revenue for the week (including free games):
- Palworld
- Enshrouded - NEW
- Tekken 8 - NEW
- Counter-Strike 2
- Steam Deck
- Like a Dragon: Infinite Wealth - NEW
- EA Sports FC 24
- PUBG: Battlegrounds
- Apex Legends
- Call of Duty
The Steam charts are ordered by revenue, include pre-order numbers, and hardware. If a game appears multiple times it is because it has multiple editions.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459775/enshrouded-tekken-8-and-like-a-dragon-infinite-wealth-debut-steam-charts/
| 2024-01-30T22:37:25Z
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SINGAPORE – The faint beep of a distant cashier machine, ice cubes clinking in a takeaway cup, a pen dropping onto the carpeted floor.
These are sounds easily missed on a typical day, but become resoundingly clear once a month at the Silent Book Club meeting in an isolated corner deep within CIMB Plaza in Raffles Place.
Unlike traditional book clubs, where members discuss topics from an assigned book, the Silent Book Club is a global community of bookworms who gather to read in silent camaraderie, touting its free-for-all meetings as “Introvert Happy Hour”.
Its Singapore chapter meets for two hours on the third Saturday of every month and is organised by Ms Sisilia Kodyat, who invited The Straits Times to sit in for a session on Jan 20.
Ms Kodyat, 45, starts the session by facilitating introductions where each member declares what book they are tackling for the afternoon. She then sets a timer for 1½ hours and everyone knuckles down to read.
As with any group meeting, there are latecomers. But latecomers of the Silent Book Club creep in so quietly that others barely notice their presence until the end of the session.
There are also the occasional drilling noises from renovations at Clifford Centre next door, but even this does not faze the eight club members, who remain engrossed in their books.
Some have brought along hard-copy books, while others use electronic devices such as Kindles or iPads.
Ms Kodyat turns off the alarm a minute before it is slated to go off to maintain the tranquility of the session till the very end, and the meeting concludes with a few quiet exchanges within the group.
Ms Michelle Zhang, a 24-year-old marketing executive who attended the club for the first time that day, says she enjoys how members share books with one another, as it is a good way to broaden her reading horizons.
She adds that she prefers this to traditional book clubs where everyone is made to read the same book.
Auditor Luke Shih, 30, joined the club in 2021 because he wanted to meet like-minded people after moving to Singapore from Canada.
Now a regular member, he says the meetings take his mind off work and stressful situations, giving him two hours every month to read without distractions.
“I like that I feel compelled to come here to relax and forget other things,” he says.
Ms Monika Puhazhendhi, a software designer, also joined the club in 2021 and says she became a regular as the meetings bring her a sense of comfort.
The 31-year-old says: “This club works well for an introverted mindset. You can just read and not have to go out of your way to interact (with others).”
“There’s also this feeling of comfort here for me, because I think everybody here is like this,” she adds. “Most people seem to get the same amount of comfort from reading silently in this shared space.”
Ms Kodyat, who grew up in Indonesia, tells ST that she takes turns with her friends Ms Jennifer Tan and Ms Astrid Astuti to host the meetings, adding that the book club started with her and Ms Tan getting together on weekends to catch up on their reading.
She says: “We are very busy with our life and our work. Most of the time when we reach home after work, we have no energy to read, and even if we do, there are a lot of distractions.”
She and Ms Tan eventually decided to turn their meetings into a book club hosted at the Singapore Land Tower Starbucks outlet, and registered it officially with the global Silent Book Club community in May 2022.
The Silent Book Club movement has more than 500 chapters in 50 countries led by volunteers like Ms Kodyat.
The Singapore chapter, which is available to join only through social media platform Meetup, now has 744 registered members, with five to eight regulars who show up consistently every month – a number that has been growing steadily.
However, Ms Kodyat says she limits each session to only 12 participants and often has to waitlist interested parties due to space constraints.
As the club expanded and eateries got more crowded after the pandemic ended, she found that it became increasingly difficult to maintain the intimate and peaceful setting of the book club.
She then discovered the club’s current spot in CIMB Plaza, which is a public seating area set up by the building’s management.
But this also means that Ms Kodyat cannot predict how many mallgoers might be using the space, and cannot guarantee that there will be enough seats should the group expand beyond 12 members at a time.
While she is looking to expand the book club’s capacity to 20 participants, she and her co-organisers also have concerns about how a bigger group may change the dynamics of the club.
Ms Tan, 44, says one of her favourite parts of the Silent Book Club is the conversations about what they are reading, each other’s literary interests and swopping book recommendations.
She says: “I like a smaller, more intimate group. While we don’t have assigned readings, we still care what each of us reads.”
She adds that it would be more difficult to have such conversations in a larger group and hopes they can find a more permanent venue that can accommodate more readers while keeping the club’s personal touch.
Another local silent book club, run by Wardah Books owner Ibrahim Tahir, faces the opposite issue of dwindling members despite having a permanent space.
Mr Tahir’s silent book club, held at his Kampong Glam bookstore on the first Sunday of every month, started as online Zoom meetings in 2020 as a way for the bookstore to promote reading and bring back a social element for its community during the pandemic, but has suffered dwindling membership since.
As the meetings were online, the book club attracted participants across the region and had about 20 active members.
He says: “For time-starved people, having this kind of commitment to come down to a place and read for an hour helps them have a sort of accountability to reading.”
Mr Tahir said that many members then were Malaysians who were friends and reminded each other to log into sessions.
But as the pandemic ended and the club transitioned to in-person meetings, the number of members gradually dwindled until Mr Tahir found himself reading alone.
Wardah Book’s silent reading club is now on a hiatus as Mr Tahir brainstorms how to revive the community.
Reflecting on the differences between the silent book club and the other active book clubs Wardah Books organises, Mr Tahir says one of his club’s shortcomings is that it placed more emphasis on the “silent” aspect and not enough on the “social”.
He says: “One of the reasons why book clubs succeed is because of a social element. People may not initially be friends, but after a while, they get comfortable and find it’s a safe place to share their ideas and become genuine friends who see each other regularly.
“So, you come not just for discussing books, but because birds of a feather flock together. This social element recognises that readers, while they read in solitude, are also communing in different ways with other people.”
Other unique book clubs:
Read Aloud SG Club
If silent reading is not for you, check out its polar opposite: the Read Aloud Club. Run by Ms Liau Yun Qing, the club was inspired by her memories of her father reading to her as a child.
While the club does assign books, the Read Aloud Club does not require members to do prior reading, as the group will be on the same page – literally – as they take turns reading out loud together.
Where: library@orchard
When: First Saturday of every month, typically from 11.30am to 1pm
Admission: Free, RSVP on Meetup
Info: meetup.com/readaloudsg
Wardah Books’ Kids Book Club
Wardah Books specialises in literature for Muslim readers and hosts a book club exploring children’s books featuring Muslim characters.
Meant for kids aged between nine and 13 years old, the group meets about four times a year to coincide with the school holidays.
Where: Wardah Books, 58 Bussorah Street
When: March 10, 11am to 12pm
Admission: Free, no registration required
Info: str.sg/SZEG
Chunksters Book Club
Do you have a chunky book just sitting on your shelf collecting dust? Have you been putting off reading it because it is just too daunting to go through all those pages?
The Chunksters Book Club is a moral support group for readers to get through such long and difficult reads (“chunksters”) together.
Where: Virtual meeting
When: Once in May and once in November, with some additional meetings in between
Admission: Free, RSVP on Meetup
Info: str.sg/Nndt
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https://www.straitstimes.com/singapore/introvert-happy-hour-silent-book-clubs-a-novel-respite-for-shy-bookworms?utm_campaign=STPicks
| 2024-01-30T22:37:28Z
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Ufouria: The Saga 2 Releases March 1 for PS5, Xbox Series X|S, Switch, and PC - News
by William D'Angelo , posted 6 hours ago / 406 ViewsPublisher Red Art Games and developer Sunsoft announced the Metroidvania game, Ufouria: The Saga 2, will launch for the PlayStation 5, Xbox Series X|S, Nintendo Switch, and PC via Steam worldwide on March 1.
View a new trailer of the game below:
Read details on the game below:
Upyo! How’s everyone been? SUNSOFT’s Ufouria is back!
The Ufour-ic reboot of the classic 1991 Famicom action game, Ufouria! It’s up to Bop-Louie and his friends to save the world from the invading aliens! We’re keeping the big map and Metroidvania gameplay, but with randomized elements to keep you on your toes. The characters and stages from the original are also back, stylized in felt and craft materials for maximum cuteness and charm.
An Authentic Evolution of the Original Ufouria
Rampage through the fluffy feltwork arts-and-crafts recreation of the world of Ufouria, with your trusty crew from the original game in this exploration-based action side-scroller. Of course, newcomers to Ufouria are welcome too!
Adventure in the Lovingly Crafted Wacky World of Ufouria
Familiar characters and stages of the original game are back, transformed from their formal pixel art to charming handmade feltwork. Iron bead artwork also plays homage to the nostalgic pixelated look of the original. Look for all the similarities and differences if you’ve played the original!
Different Courses Each Time You Play
The various stages from the original game now change randomly every time your enter, making for a fresh new challenge each time! New characters joining your crew let you reach more areas, even ones that weren’t in the original game at all!
Popoons Are Now a Super Powerful Cleaning Agent
A new threat…the icky Bumyon makes an appearance! The troublesome Bumyon sticks to everything and everyone and is quite the annoyance, but Hebe and crews can counteract them perfectly with their Popoons. Clean up the Bumyons that litter the planet and thwart the Utsujin’s evil plans!
And More!
Visit the never before seen Hebe’s house! Meet rare characters that were only ever seen before in Ufouria art books! A Collection feature lets you read up on enemies and their backgrounds!
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459776/ufouria-the-saga-2-releases-march-1-for-ps5-xbox-series-xs-switch-and-pc/
| 2024-01-30T22:37:31Z
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Planet Zoo: Console Edition Launches March 26 for PS5 and Xbox Series X|S - News
by William D'Angelo , posted 6 hours ago / 495 ViewsFrontier Developments has announced Planet Zoo: Console Edition will launch for the PlayStation 5 and Xbox Series X|S on March 26 for $49.99 / £39.99 / €49.99.
The game first released for PC via Steam in November 2019.
View the announcement trailer below:
Read details on the game below:
Planet Zoo: Console Edition brings Frontier’s BAFTA-nominated creative management simulation to console, complete with over 4 years’ worth of features, content, and animals from the celebrated PC video game’s free updates.
Featuring an incredible array of animals who think, feel, and explore the habitats you create around them, Planet Zoo allows players to nurture and learn about an array of species as they construct, customize, and manage the world’s wildest zoos using intuitive console controls.
Budding zookeepers can test their skills across four engaging game modes: Career, Franchise, Challenge, and Sandbox. Deep management allows players to focus on the bigger picture, or control the smallest details to ensure animals, staff, and guests can thrive, in a world where animal welfare and conservation comes first.
With piece-by-piece construction, unique themes, and hundreds of building components, creating stunning zoos from the comfort of a sofa has never been easier. Players can also join a connected community with console cross-platform sharing via Frontier Workshop, with habitats, scenery, and even whole zoos available to download and share.
For players looking to expand their zoos with even more animals, scenery and gameplay scenarios, a Deluxe Edition is available to pre-order for an SRP of $59.99 / £49.99 / €59.99, including 16 additional animals and two additional scenarios, which transport players to both the heart of the tropical rainforests of Southeast Asia and rich, vibrant wetlands. The Ultimate Edition includes all Deluxe Content, plus a Season Pass granting access to 14 future console downloadable content packs for an SRP of $119.99 / £99.99 / €119.99.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459777/planet-zoo-console-edition-launches-march-26-for-ps5-and-xbox-series-xs/
| 2024-01-30T22:37:39Z
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Fate/Stay Night Remastered Announced for Switch and PC - News
by William D'Angelo , posted 6 hours ago / 494 ViewsPublisher Aniplex and developer TYPE-MOON have announced Fate/Stay Night Remastered for the Nintendo Switch and PC via Steam. It will launch later this year.
The game is a remastered version of the PlayStation Vita title Fate/Stay Night Realta Nua.
View the teaser trailer below:
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459778/fatestay-night-remastered-announced-for-switch-and-pc/
| 2024-01-30T22:37:48Z
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Former Volition Staff Form New Co-Development Studio Shapeshifter Games - News
by William D'Angelo , posted 6 hours ago / 456 ViewsSome former Volition developers have formed a new co-development studio called Shapeshifter Games.
Shapeshifter Games is based in Champaign, Illinois and will help other studios develop AAA games. Rob Loftus, who was the principal producer on Saints Row, will serve as the studio director on game development.
"Shapeshifter is a new co-development studio that was started by pulling together a group of experienced developers from Volition," said the studio on LinkedIn. "We are focused on AAA game development. One of the goals of the company is to create a more sustainable environment for developers to do their best work.
"We're already hard at work with a top publisher on their next great IP and looking to grow. Shapeshifter is always searching for talented developers to help us grow. Please reach out, we would love to hear from you."
Loftus on LinkedIn stated, "It's been five months since the closure of Volition, but I'm grateful to post that a group of us have re-formed as Shapeshifter Games. The industry climate remains tough and I know I’m fortunate to reconnect with colleagues and turn the page on a new adventure. I’m hopeful for more groups like us and for the brighter days ahead."
Developer Volition, the developers for the Saints Row franchise, was shut down in August 2023 by Embracer Group.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459779/former-volition-staff-form-new-co-development-studio-shapeshifter-games/
| 2024-01-30T22:37:55Z
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Super Nintendo World to Open in Florida in 2025 at Universal Epic Universe Theme Park - News
by William D'Angelo , posted 6 hours ago / 525 ViewsUniversal has shared the first details on its upcoming Universal Epic Universe theme park, which is set to open in 2025 as part of the Universal Orlando Resort.
The new theme park will feature five themed-lands - Celestial Park, The Wizarding World of Harry Potter - Ministry of Magic, Super Nintendo World, How to Train Your Dragon - Isle of Berk, and the Dark Universe.
This would be the third Super Nintendo World themed-land to open in the world, however, the Orlando version will feature the extra Donkey Kong area on the day it opens.
The first version of Super Nintendo World opened at Universal Studios Japan in March 2021, while the second version opened at Universal Studios Hollywood in February 2023. A fourth version is planned for Universal Studios Singapore.
View concept art for the Universal Epic Universe version of Super Nintendo World below:
Adventure awaits! SUPER NINTENDO WORLD, one of the five immersive worlds is opening at the all-new Universal Epic Universe theme park at Universal Orlando Resort in 2025. 💫 #EpicUniverse https://t.co/tpcR5lWnf6 pic.twitter.com/0A3ECtSblV
— Nintendo of America (@NintendoAmerica) January 30, 2024
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459780/super-nintendo-world-to-open-in-florida-in-2025-at-universal-epic-universe-theme-park/
| 2024-01-30T22:38:03Z
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Insurgency: Sandstorm Out Now for PS5 and Xbox Series X|S - News
by William D'Angelo , posted 5 hours ago / 589 ViewsPublisher Focus Entertainment and developer New World Interactive have announced Insurgency: Sandstorm is now available for the PlayStation 5 and Xbox Series X|S.
Users who already own the game on the PlayStation 4 and Xbox One will be able to upgrade for free, otherwise it will cost $39.99 for the Standard Edition, $49.99 for the Deluxe Edition, $69.99 for the Gold Edition, and 479.99 for the Ultimate Edition on the PS5 and Xbox Series X|S.
The game first released for PC in December 2018, and for the PS4 and Xbox One in September 2021.
View the next-gen launch trailer below:
Read details on the game below:
Battle in the war-torn environments of a contemporary conflict through a series of intense cooperative and player-versus-player multiplayer modes. Featuring unparalleled immersion, feel every bullet and fear every impact in fierce close quarters combat.
Death comes fast. Manage ammunition carefully, and use tactics to navigate environments as you and your team fights towards victory. Coordinate fire support, engage enemies with vehicle-mounted machine guns, and engage in thrilling modern firefights.
Features:
- Team up in intense eight-player cooperative gameplay.
- Compete in objective-based player-versus-player matches with up to 20 players.
- Fully customize your soldiers and weapons.
- Get immersed with realistic ballistics and stunning attention to detail.
- Unprecedented audio design with positional voice-chat for heart-pounding immersion.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459781/insurgency-sandstorm-out-now-for-ps5-and-xbox-series-xs/
| 2024-01-30T22:38:11Z
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Starfield Update Improves Graphics, Fixes Quests, and More - News
by William D'Angelo , posted 4 hours ago / 611 ViewsBethesda Game Studios has released update 1.9.51.0 for Starfield, which is the biggest update for the game to date, for the Xbox Series X|S and PC.
The update improves the graphics, fixes numerous quests, and more. In total there are "over 100 fixes and improvements" to the game.
"We’re grateful for all the feedback we’ve seen and received and will continue to monitor and track your issues and critiques," said Bethesda. "As we noted last year, we’ll continue to have a steady stream of updates about every six weeks, so if you don’t see your issue addressed below, don’t lose faith! Keep sharing your feedback and issues so we can do our best to prioritize."
🌌 With graphical improvements, fixes for numerous quests, and much more, #Starfield’s latest update is now available for all players!
— Starfield (@StarfieldGame) January 30, 2024
Full update notes: https://t.co/bbA6bHHe27 pic.twitter.com/LSEgZ1bthW
Read the patch notes below:
FIXES AND IMPROVEMENTS
- Fixed player character’s eyes remaining closed instead of blinking in third person view.
- Addressed rare cases where small animation pops could be seen in third person.
- Fixed incorrectly invisible creatures on some planets.
- Fixed an issue that could occur on some enemies causing them to stand instead of falling to the ground.
- Fixed crew members and companions positioning near the cockpit after fast traveling to the ship.
- Companions: Fixed a possible control-lock when talking to a companion without entering a dialogue while simultaneously trying to exit the ship.
- [ADDED TO 1.9.51] Addressed a crash that could occur when changing from Fullscreen to Windowed mode. (PC)
- Fixed an issue that prevented Windows users saving if their username featured certain characters (PC).
- Fixed rare save game corruptions on PC (MSS and Steam).
- Fixed an issue that could lead to a control lock or a crash after loading a quicksave while in the targeting mode.
- Fixed player marker following the camera on the surface map.
- Fixed a rare issue that could prevent access to the main menu on when prompted to “Press any button to Start” (Xbox).
- Body type should no longer reset to default when loading a Starborn save from the main menu.
- Fixed flickering on Neon’s Trade Tower elevator panel.
- Improved the appearance of the Ryujin Kiosk material during nighttime.
- Fixed rare issue with how Cydonia’s panel could display the hours without incident.
- Added Optimizations to cloud syncing of save games (MSS/Xbox).
- Improved how crowds behave when desired target is reserved.
- Fixed an issue that could cause airlock doors to sometimes appear floating in sky when arriving at locations.
- Fixed unintended text appearing on the shipbuilder’s UI.
- Fixed game session not properly resuming from shutdown in Energy Save mode (Xbox).
- Various stability improvements.
- Improved widescreen support (32:9, 21:9 and 16:10).
- Added support for stars displaying sun disk geometry.
- Shadows can now be seen on planet rings from planet surface.
- Improved eyes and skin on crowd characters.
- Improved reflection on water.
- Improved contact shadows on character skin (Xbox and PC Medium/High/Ultra).
- Improved contact shadows on character cloth (PC High/Ultra).
- Improved contact shadows on first person (PC Ultra).
- Improved lighting in character generation menu.
- Reduced the appearance of some minor artifacts during cutscene camera transitions.
- Fixed flickering on a number of VFX (Sandstorm, corrosive liquid pools, waterfall).
- Fixed a rare issue where the camera would lock while in handscanner mode whenever watching flying fauna (Xbox).
- Fixed potential control lock when opening a game menu a moment before triggering a dialogue with another character.
- Addressed various shadow popping, flickering and artifact issues.
- Improved the visibility of the sun’s lens flare during sunrise and sunset.
- Fixed a rare issue where foam or grime would not show up.
- Fixed rare flickering VFX that could occur in space (Xbox Series S).
- Fixed rare hair flickering (Xbox Series X/S).
- Fixed occasional flicker on digiframes and TV screens.
- Adjusted the appearance of bloom when activating the handscanner.
- Improved the appearance of clouds during weather transitions.
- Fixed rare cases where alignment of grass and wind could appear disconnected.
- Reduced bloom intensity effect while motion blur is active (PC).
- Addressed issues with concealment effect not always applying when using the handscanner.
- Fixed visible edge of the ocean in the distance when seen from a very high point of view.
- Fixed rare white flickering dots around characters' hair during cut scenes.
- Fixed a readability issue in the Starmap when using large menu font mode.
- Fixed inventory menu occasionally failing to generate previews when using a mouse (PC).
- Fixed a brief Depth of Field issue that sometimes occurred when aiming, alt-tabbing or leaving a dialogue screen.
- Fixed occasional lighting transition issues after loading or exiting a location.
- Fixed an issue that could cause intermittent bands to appear in distance fog.
- Fixed a rare issue that could cause fog color to appear inconsistent.
- Fixed a rare issue that could cause rocks to disappear near the player on the surface of a planet.
- Fixed a crash that could occur when switching to DLSS with dynamic resolution active (PC).
- Fixed flickering and delayed shadows sometimes occurring after unpausing the game.
- Fixed various FSR2 and DLSS artifacts (noise, black dots, ghosting).
- Fixed flickering when using the handscanner with DLSS enabled.
- Fixed initial lighting conditions when landing on a planet.
- Improved lighting at 73 locations.
- Fixed various geometry, texture, and ghosting issues.
- Fixed a rare missing terrain issue that could occur after fast traveling to an outpost near New Atlantis.
- Fixed an issue that could cause bulldozed objects to reappear when returning to an outpost.
- Fixed an issue that caused hazard damage to remain even when the hazard was removed by bulldozing in outposts.
- Fixed an issue where outpost’s cargo links would be removed from the terminal list if connected, disconnected, then reconnected to another cargo link during the cargo ship landing sequence.
- Fixed an issue where weapon cases built by the player in an Outpost would populate with weapons and ammo after reloading the game.
- Fixed a rare issue that could cause the Phased Time power to remain enabled.
- Fixed the extreme speed that could occur in zero G when using the Phased Time power.
- Solar Flare Power now accounts for critical hits.
- Absolute Power: Fixed missing slate in the safe preventing from completing the optional objective “Locate Evidence to Extort Ayumi Komiko”.
- Background Checks: Fixed possible control-lock that could occur if caught by security.
- Derelict Ship: Fixed an issue preventing the player from reaching the pilot seat if they did not have access to advanced locks.
- Drinks on the House: Fixed rare occurrence where the door to Sub 12 could remain locked.
- Echoes of the Past: Fixed Delgado getting stuck at bottom of stairs during "Continue Exploring the Lock" that could occur if The Lock was left during Delgado's history dialogue.
- Echoes of the Past: Resolved an issue that could cause Mathis' and Delgado’s guns to be invisible.
- Eye of the Storm: Fixed an issue that could cause data transfer to not start after placing the Data Core.
- Eye of the Storm: Fixed an issue where the docking prompt would be missing on the Legacy ship if the player undocked with the Legacy and then reloaded a save before having started the mission.
- Executive Level: Fixed an issue where players could get stuck on a chair in the Ryujin Industries HQ conference room.
- Failure to Communicate: Fixed an issue that prevented the player from finishing the quest if they downed all the members of the defense pact (Alban Lopez, Jacquelyn Lemaire, and Chanda Banda).
- Further Into the Unknown: Fixed a rare crash that could occur when trying to dock with The Eye.
- Groundpounder: Fixed an issue where the door to Lezama could sometimes be locked if the player left the location during the quest and came back later.
- Hostile Intelligence: Fixed blocked doors in the Steam Tunnels room where the Terrormorph transformation occurs.
- Into the Unknown: Fixed a rare issue that could prevent the quest from starting after completing The Old Neighborhood.
- Into the Unknown: Fixed a rare issue where a Temple location might not populate when receiving the “Go to” objective.
- Legacy’s End: Fixed an issue that could prevent interacting with Delgado when he was behind the glass inside in the command center of The Key.
- Legacy’s End: Fixed a debris pile where to player could become stuck while trying to reach the Mess Hall.
- Missed Beyond Measure: Fixed a dialogue between Sarah and Walter not playing at The Lodge.
- No Sudden Moves: Fixed companions not following player during personal quests.
- On The Run: Fixed various issues related to Mei Devine becoming inaccessible the objective updated to “Listen to Mei Devine’s Introduction”.
- On The Run: Fixed a possible control lock when sitting at the table to talk to Jade MacMillan.
- One Small Step: Fixed a rare issue that could prevent Lin / Heller from exiting the airlock.
- Operation Starseed: Fixed a bad view that could occur if the Beagle was boarded after a long idle.
- Power From Beyond: Fixed an issue that caused missing Starborn temples and scanner disturbances that could prevent obtaining all Starborn powers from that universe.
- Rough Landings: Resolved an issue that could occur during the “Meet up with Milena Axelrod” objective that could prevent ships from appearing at the desired location.
- Shadows in Neon: Fixed an issue that could occur when repeatedly using the door to Jaylen Pryce's office before he progressed to Neon Core.
- Supra et Ultra: Fixed a control lock that could occur when entering the Flight Simulator while a guard is attempting arrest.
- Tapping the Grid: Fixed inaccessible junction boxes that could occur after the Hunter attacks the Lodge.
- The Best There Is: Fixed an issue that could prevent objective from advancing when talking to Naeva and Jasmine in the engineering room.
- The Empty Nest: Fixed and issue that could cause Sam Coe’s gun to be invisible when inside Jacob’s house.
- The Heart of Mars: Fixed another location that could potentially prevent recovering The Heart of Mars.
- The Pale Lady: Fixed rare case of inaccessible ship crew log data slate making it impossible to complete the encounter.
- Top of the L.I.S.T.: Phil Hill should now accept survey data for Sumati.
- War Relics: Resolved an issue that could prevent Kaiser from moving to the mission site.
- Where Hope is Built: Fixed a crash that could occur with a specific set of player behaviors.
- Fixed another case that could cause an asteroid to follow a ship in space.
- Fixed ship hatch being marked inaccessible after swapping to a new home ship.
- Fixed an issue where the ship could end up in an unintended state by simultaneously attempting fast travel during a grav jump.
- Fixed a view issue that could occur when fast traveling during ship targeting mode.
- Fixed an issue that could occur when entering Ship Targeting mode immediately after selecting a Grav Jump.
- Fixed an issue that caused non-functional ladders to appear when the player modified their ship with a Taiyo All-In-One Berth Top A and a Deimos 1x1.
- Fixed an issue where the Legendary ship could take too long to resume firing after the weapons were repaired.
- Space combat should now match ground combat difficulty increase with successive trips through the Unity.
- Fixed an issue where loading an exit save made while docked to a space station could cause names of ships to change.
- Fixed marker not pointing to the current home ship after performing a save/load between different ships.
- Fixed in issue that could cause the Frontier to incorrectly appear if a non-home ship was removed from a landing pad.
- REJUVENATION: Rejuvenation skill VFX no longer replay whenever the handscanner is opened in third person.
- SURVEYING: Fixed surveying challenge progress issue with mineral resource.
- TARGETING CONTROL SYSTEMS: Fixed inconsistencies with level 3 and 4.
- Fixed incorrect reload amounts that could occur when consuming a Trauma Pack.
- Fixed FOV and zoom issues with weapon scopes.
- Fixed weapon sound effects occasionally continuing to play after killing an enemy.
- Fixed turret state not being restored properly after and save and load.
- Fixed an issue that could cause the helmet light to not reappear in third person after a save and load.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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just look how long that list is. Starfield and Forza were released a minimum of 6 months too early - deliberately.
Phil Spencer and Xbox proving that you can't trust them.
In a game the size of Starfield, there's probably no way Bethesda could have caught enough bugs to not end up with such a list anyway. It's pretty much guaranteed that in such a large game with so many players, a ton of bugs will be found. Perhaps they would have been different bugs, and maybe less troubling ones too, but judging just by the length of the list? Probably misleading and a waste of time.
Baldurs gate 3 patches have longer lists. https://baldursgate3.game/news/patch-5-now-live_99
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https://www.vgchartz.com/article/459782/starfield-update-improves-graphics-fixes-quests-and-more/
| 2024-01-30T22:38:19Z
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MLB The Show 24 Releases March 19 for PS5, Xbox Series X|S, Switch, PS4, Xbox One, and Game Pass - News
by William D'Angelo , posted 1 hour ago / 243 ViewsPublisher Sony Interactive Entertainment and developer San Diego Studio have announced MLB The Show 24 for the PlayStation 5, Xbox Series X|S, Nintendo Switch, PlayStation 4, Xbox One, and Xbox Game Pass. It will launch on March 19.
Toronto Blue Jays star Vladimir Guerrero Jr. is the cover athlete. Details on the Collector's Edition will be revealed on February 6. Pre-orders for the Standard Edition are now open.
View the cover athlete reveal trailer below:
Read details on the game below:
Swing for the fences, experience game-deciding moments, become a legend and live out your baseball dreams in MLB The Show 24.
Everyone has a moment to own. Everyone has a story to tell. Unlock your moment. Own The Show.
It’s your show. Ready to own it?
Set out on the road to baseball greatness—whatever it is you want to achieve, MLB The Show 24 has got you covered.
Earn your call up from the minors to the big leagues and prove you’ve got what it takes at the top. Learn about known and unsung legends of the sport and take inspiration from their heroics. Hold your nerve when it matters and earn the right to be called World Series champions.
Chalk up the wins, pick yourself up after the losses. Whatever happens, know you left nothing in the dugout.
Celebrating History With Storylines
Celebrate and learn about baseball legends and their amazing stories. The Storylines mode transports you into baseball’s past to relive iconic moments of baseball’s unsung and unknown heroes. Experience career-defining moments through a combination of immersive gameplay and visual storytelling.
Road to the Show
Unlock your moment and build your career in the ultimate baseball role-playing experience. Become a ballplayer and journey from the minors to the majors to define your legacy.
Franchise
Manage, build, and lead your team to World Series glory to become an annual powerhouse in Franchise Mode. Experience new features providing more in-depth and dynamic gameplay from March to October.
March to October
Take control of your favorite team, focus on the key streamlined in-season moments and see if you can get to the Postseason and beyond.
Diamond Dynasty
Build your fantasy team of players from across all eras of baseball’s history as Diamond Dynasty returns for another season. Collect player cards, build your dream squad, and play head-to-head against other players online and offline while customizing your team’s look and home stadium.
Multiplayer
Gather your friends and face off in cross-platform play. Climb the leaderboards and compete against others online, or experience team glory together through online co-op play. With cross-progression, continue your progress and earn and use content on other console platforms.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459783/mlb-the-show-24-releases-march-19-for-ps5-xbox-series-xs-switch-ps4-xbox-one-and-game-pass/
| 2024-01-30T22:38:27Z
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Clockwork Revolution is Co-Developed by Shapeshifter Games - News
by William D'Angelo , posted 1 hour ago / 290 ViewsPublisher Xbox Game Studios and developer inXile Entertainment have announced newly formed studio Shapeshifter Games is co-developing the steampunk first-person RPG, Clockwork Revolution.
"We’re happy to announce that the newly formed Shapeshifter Games, formed of ex-Volition developers, is working with us to help bring Clockwork Revolution to life," announced developer inXile Entertainment.
"Shortly after Volition closed, we flew to Illinois and worked with Xbox and the then ex-Volition leadership to secure this new team as our co-development partner. Their wealth of industry experience further bolstering our efforts in developing our upcoming steampunk RPG Clockwork Revolution."
The automaton cat is out of the bag. Happy to say that ex-Volition formed Shapeshifter Games has been working with us on @ClockworkGame!
— inile entertainment (@inXile) January 30, 2024
“... this one is special for us because of my long history with them going back to the Descent and FreeSpace games.” -@BrianFargo
More info:… pic.twitter.com/mI54q5yGaK
"I was very grateful to be able to help secure this new studio and get some truly amazing developers to help make Clockwork a reality," said inXile Entertainment Studio Head Brian Fargo. "Co-dev groups are almost a given these days, but this one is special for us because of my long history with them going back to the Descent and FreeSpace games."
inXile President Chris Keenan added, "One of the first games I tested in my career was Descent, so I have a special place in my heart for the Parallax/Volition team and history. First priority was ensuring these folks had a place to land on Clockwork Revolution, and we're thankful we were able to get it done so quickly. Bringing in new development partners can be challenging, but this was a rare partnership that felt right from the beginning."
Shapeshifter Games Studio Head Matt Madigan said, "The talented and experienced team that joined Shapeshifter has hit the ground running. We’ve had a lot of support from former Volitionites, and are truly grateful to inXile and Microsoft for the opportunity to assist with the development of a great new IP."
Clockwork Revolution is in development for the Xbox Series X|S, PC, and Xbox Game Pass.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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https://www.vgchartz.com/article/459784/clockwork-revolution-is-co-developed-by-shapeshifter-games/
| 2024-01-30T22:38:35Z
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Xbox Revenue Jumped 49% During Holiday Quarter, Driven By Activision Blizzard Acquisition - Sales
by William D'Angelo , posted 1 hour ago / 345 ViewsMicrosoft has released its earnings report for the second quarter of the 2024 fiscal year, which ended up December 31, 2023.
Xbox gaming revenue increased by 49 percent year-on-year to $7.11 billion. This includes "44 points of net impact from the Activision acquisition."
Xbox content & services revenue increased 61 percent compared to the same quarter a year ago. This includes "55 points of net impact from the Activision acquisition." Xbox hardware revenue grew three percent.
The growth in Xbox due to the Activision Blizzard acquisition was enough for it to surpass Windows as Microsoft's third biggest division in terms of revenue generated.
Overall, Microsoft reported for the quarter GAAP revenue was up 18 percent year-over-year to $62.02 billion and net income was up 33 percent to $21.87 billion.
Stay tuned for more information...
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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The main interesting piece from this fiscal report was that gaming has now surpassed Windows as Microsoft’s 3rd largest revenue generator.
I am really curious what MS’s long term strategy is going to be going forward, and how console fits into that going forward.
that's the first increase in hardware in a while, hopefully it stays that way.
That's a bit concerning that they only had a 3% increase in console hardware sales for the second quarter of the 2024 fiscal year. And they even had their biggest holiday price cut in a long time.
Good luck Microsoft!
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https://www.vgchartz.com/article/459785/xbox-revenue-jumped-49-during-holiday-quarter-driven-by-activision-blizzard-acquisition/
| 2024-01-30T22:38:43Z
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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, January 30th:
Warrior Met Coal, Inc. (HCC - Free Report) : This metallurgical coal mining company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.9% over the last 60 days.
Warrior Met Coal’s shares gained 33.8% over the last three months compared with the S&P 500’s advance of 16.7%. The company possesses a Momentum Score of A.
World Acceptance Corporation (WRLD - Free Report) : This consumer finance company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.1% over the last 60 days.
World Acceptance’s shares gained 45% over the last three months compared with the S&P 500’s advance of 16.7%. The company possesses a Momentum Score of A.
Eldorado Gold Corporation (EGO - Free Report) : This mining and exploration company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 11.5% over the last 60 days.
Eldorado’s shares gained 23% over the last six months compared with the S&P 500’s advance of 6.8%. 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/2217560/best-momentum-stocks-to-buy-for-january-30th
| 2024-01-30T22:46:20Z
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The Zacks Food – Meat Products industry players have been benefiting from the elevated demand for protein stemming from consumers’ shift toward health and wellness. Companies’ focus on catering to consumers’ evolving preferences has been working well.
However, several meat companies have been battling hurdles associated with cost inflation, though the trend is moderating. Also, companies remain troubled by challenges in the Beef business. Nonetheless, initiatives to expand capacity and undertake innovation position Tyson Foods, Inc. (TSN - Free Report) and Pilgrim's Pride Corporation (PPC - Free Report) well for growth.
About the Industry
The Zacks Food – Meat Products industry comprises companies that manufacture, process, market, distribute and sell a wide range of meat products like chicken, pork, beef, prepared food and plant-based meats. Some companies also offer poultry and turkey products, alongside providing nutritional food products and supplements, desserts and drink mixes and industrial gelatin products. Most companies offer their products to retail and foodservice customers, while some cater to deli and commercial operators, including grocery retailers, grocery wholesalers, meat distributors, warehouse club stores, industrial food processing companies, chain restaurants, international export companies, school cafeterias and hospitals, among others. Some products offered include frozen whole chicken, primary pork cuts, salads, sandwiches and meatballs.
Major Trends Shaping the Future of the Meat Food Industry
Protein Demand Rises, Plant-Based Meat Gains Traction: Increased inclination toward protein-rich sustenance has been proving advantageous for meat companies, which have continuously enhanced their product lines through innovative approaches. In recent years, the popularity of meatless alternatives and plant-based meat substitutes has been steadily increasing, driven by consumers' preference for fresh, healthier options over traditional meat products. Most plant-based food alternatives are well-regarded for their reduced reliance on artificial ingredients and additives, making them a wholesome choice. These alternatives also serve as valuable sources of protein for those following vegan dietary practices. Industry experts believe that plant-based protein could lead to significant disruptions in the traditional meat market.
Robust Expansion Strategies: Companies in the industry are actively engaged in initiatives aimed at diversifying their product portfolios and fortifying their position in the market through strategic collaborations, acquisitions and capacity expansion efforts. As part of these endeavors, businesses are looking for opportunities to bolster their manufacturing capabilities, such as establishing new production facilities, enlarging existing plants and entering into partnerships with co-manufacturers. Concurrently, select companies are making investments in automation technology, with a keen focus on accelerating the digitalization process. Additionally, some players are directing their efforts toward entering international markets, a strategy that is yielding favorable results.
Challenges in the Beef Segment: The beef segment is battling numerous challenges in 2024, including consumer caution, economic uncertainties, shifting preferences and reduced production. The segment is likely to continue witnessing consumer caution on account of the sluggish global economic recovery post the pandemic. Consumers, particularly, are shifting toward value-for-money products over premium ones due to heightened caution. This is likely to dampen demand for more expensive cuts of beef, leading to soft sales and revenues for producers. Additionally, the beef segment is undergoing a significant decline in production, which is resulting in elevated retail prices for consumers. The reduced production is likely to put pressure on beef processors, leading to challenges in maintaining profitability throughout the supply chain.
Ongoing Cost Concerns: High input costs have been a persistent issue for numerous participants in the meat food space, though the trend is moderating. Companies have been incurring elevated costs associated with raw materials, packaging, supplies, freight and logistics and labor. The continuation of inflationary pressures, along with increased operating expenditure, may strain margins.
Zacks Industry Rank Indicates Solid Prospects
The Zacks Food – Meat Products industry is housed within the broader Zacks Consumer Staples sector. The industry currently carries a Zacks Industry Rank #110, which places it in the top 44% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential. Since the beginning of January 2024, the industry’s earnings estimate for fiscal 2024 has climbed 1.4%.
Given the industry’s prospects, we present a few stocks that you may want to consider for your portfolio. However, before that, it’s worth taking a look at the industry’s performance and current valuation.
Industry vs. Broader Market
The Zacks Food – Meat Products industry has underperformed the broader Zacks Consumer Staples sector and the S&P 500 over the past year.
The industry has declined 21.3% over this period compared with the broader sector’s decrease of 7%. Meanwhile, the S&P 500 has witnessed an increase of 21.1%.
One-Year Price Performance
Industry's Current Valuation
On the basis of forward 12-month price-to-earnings (P/E), which is commonly used for valuing Consumer Staple stocks, the industry is currently trading at 19.84X compared with the S&P 500’s 20.47X and the sector’s 17.23X.
Over the past five years, the industry has traded as high as 21.76X and as low as 12.24X, with the median being 16.8X, as the chart below shows.
Price-to-Earnings Ratio (Past 5 Years)
2 Meat Food Stocks to Keep a Close Eye On
Tyson Foods: This Zacks Rank #1 (Strong Buy) company has been benefiting from its three main pillars. These include driving growth across the core protein platform, fueling growth through its robust brands and focusing on prudent international expansion. This meat products giant has been reaping gains from its strategic expansion initiatives, which emphasize protein-rich brands and efforts to expand its production capacity. Tyson Foods operates across various segments, including Beef, Pork, Chicken, and Prepared Foods, while also exploring alternative meat and protein sources as part of its diversification strategy.
The Zacks Consensus Estimate for Tyson Foods’ fiscal 2024 earnings per share (EPS) has increased by 5.6% over the past 60 days to $2.26. This indicates a rise of 68.7% from the prior-year reported figure. Shares of TSN have rallied almost 18% in the past three months.
Price and Consensus: TSN
Pilgrim’s Pride: Pilgrim’s Pride’s focus on key customers is a pathway for refining its portfolio and creating competitive advantages. Apart from this, this Zacks Rank #3 (Hold) company has been steadily augmenting the marketing support of its brands as they expand and enter new regions. This provider of fresh, frozen and value-added chicken and pork products continues to explore M&A opportunities to further diversify its portfolio across segments and geographies. Additionally, it resorts to frequent supply-chain improvements to enhance efficiency and reduce costs.
The Zacks Consensus Estimate for Pilgrim’s Pride’s 2024 EPS has remained unchanged over the past 30 days at $2.48. This suggests growth of 62.4% from the prior-year reported figure. Shares of PPC have risen 9% in the past three months.
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https://www.zacks.com/commentary/2217582/2-meat-food-stocks-worth-watching-on-bright-industry-trends
| 2024-01-30T22:46:26Z
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Banks across the globe have been continuously undertaking restructuring efforts to focus more on core operations. While these efforts are expected to result in elevated expenses, they will aid growth in the long run. Moreover, while the uneven economic recovery in developed and emerging nations has been hurting revenue growth for companies within the Zacks Foreign Banks Industry, higher interest rates will continue to provide support.
Thus, despite the geopolitical concerns, industry players like ICICI Bank Limited (IBN - Free Report) , Itaú Unibanco Holding S.A. (ITUB - Free Report) and Deutsche Bank Aktiengesellschaft (DB - Free Report) are well-poised to benefit from the high interest rate environment.
About the Industry
The Zacks Foreign Banks Industry consists of overseas banks with operations in the United States. Since a foreign banking organization may have federal and state-chartered offices in the country, the Federal Reserve plays a major role in supervising their U.S. operations. In addition to providing a broad range of products and services to customers in the United States, the banks offer financial services to corporate clients having businesses in the country. The financial firms establish relations with U.S. corporations operating in their home countries. Some units of foreign banks offer a broad range of wholesale and retail services, and conduct money-market transactions for their parent organizations. Some firms are involved in developing only specialized services.
3 Foreign Bank Industry Trends to Watch
High Interest Rates Likely to Aid Top-Line Growth: The efforts undertaken by the central banks across the globe to cushion economies from the pandemic-induced economic slowdown in 2020 (reducing benchmark interest rates to record lows) were successful in aiding immediate economic growth. However, it eroded banks’ profitability to a great extent. The pace of economic recovery, which has been uneven in the developed (home to a number of major foreign banks) and emerging nations, also hampered banking operations globally. Nevertheless, almost all central banks across the globe began raising interest rates since the beginning of 2022 to counter inflation, which supported banks’ top-line growth. Despite the current pause in rate hikes, banks are expected to continue to witness growth in their net interest income and margins in the high interest rate environment.
Restructuring Efforts Likely to Keep Costs Elevated: Several foreign banks are undertaking business-restructuring efforts. Many banks have been divesting/closing non-core operations to increase focus on core businesses and regions. While restructuring efforts are expected to boost growth in the long run, these have been leading to higher expenses. Increased costs related to technology upgrades are likely to keep hampering banks’ bottom-line growth to some extent in the near term.
Uneven Global Economic Recovery Poses a Concern: After the coronavirus outbreak, business confidence was shattered across the globe as the pandemic loomed over corporate earnings and economic growth. While the economy has recovered from the negative impacts of the pandemic in almost all parts of the world, growth has slowed in some regions because of certain other geopolitical concerns. Banks’ performances are directly linked to the performance of the overall economy. Thus, uneven economic growth may hurt banks’ finances to an extent in the upcoming period.
Zacks Industry Rank Indicates Bright Prospects
The Zacks Foreign Banks Industry is a 67-stock group within the broader Zacks Finance Sector. The industry currently carries a Zacks Industry Rank #71, which places it in the top 28% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates outperformance in the near term. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.
The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a decent earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gaining confidence in the group’s bottom-line growth potential. The industry’s most recent 2024 earnings estimates have been revised 4.4% higher since January 2023-end.
Thus, we present a few stocks from the industry that you may want to consider for your portfolio. But before that, let us check out the industry’s recent stock market performance and valuation picture.
Industry Underperforms the S&P 500 but Outperforms the Finance Sector
While the Zacks Foreign Banks Industry has outperformed its sector in the past two years, it has underperformed the S&P 500 in the same period.
Stocks in the industry have collectively gained 2.5%. The S&P 500 composite has rallied 7.8% and the Zacks Finance Sector has appreciated only 0.5%.
Two-Year Price Performance
Industry's Current Valuation
One might get a good sense of the industry’s relative valuation by looking at its price-to-tangible book ratio (P/TBV), which is commonly used for valuing banks because of large variations in their earnings results from one quarter to the next.
The industry currently has a trailing 12-month P/TBV of 1.83X. When compared with the highest level of 1.90X over the past five years, there is a slight upside left. Notably, the current value compares with the median value of 1.60X.
Additionally, the industry is trading at a significant discount when compared with the market at large, as the trailing 12-month P/TBV for the S&P 500 is 10.68X.
Price-to-Tangible Book Ratio (TTM)
As finance stocks typically have a lower P/TBV ratio, comparing foreign banks with the S&P 500 might not make sense to many investors. However, a comparison of the group’s P/TBV ratio with that of its broader sector ensures that it is trading at a decent discount. The Zacks Finance Sector’s trailing 12-month P/TBV of 4.75X and the median level of 4.23X for the same period are above the Zacks Foreign Banks Industry’s ratios.
Price-to-Tangible Book Ratio (TTM)
3 Foreign Banks to Consider
ICICI Bank: Headquartered in Mumbai, India, the company provides a wide range of banking products and financial services to corporate and retail customers.
ICICI Bank has made commendable progress in improving its digital banking services for retail and corporate clients. The bank has been striving to provide superior end-to-end seamless digital services, personalized solutions and value-added features to further enable data-driven cross-sell and up-sell opportunities.
The increasing adoption of the bank’s mobile banking app — iMobile Pay — is helping garner a solid market share. ICICI Bank’s digital platform for businesses — InstaBIZ — along with supply-chain platforms, has witnessed tremendous growth in the past few quarters. These efforts are leading to a rapid increase in end-to-end digital sanctions and disbursements across various products.
Moreover, IBN has been leveraging its technological initiatives to augment the contribution of non-interest income toward its top line. Driven by the efforts, its non-interest income continues to improve. The metric increased 15% in the first nine months of fiscal 2024 (ended Dec 31), following a 13% rise in fiscal 2023 and 27% growth in fiscal 2022. IBN’s efforts to digitize operations and a rise in mobile banking transactions will likely continue to help it garner more fee income, going forward.
Further, while ICICI Bank has wide international loan coverage, domestic loans represent a substantial part of its overall loans (97% as of Dec 31, 2023). As a result, the bank is secure with respect to loans and is less likely to be affected by global concerns.
Shares of the company have gained 16.3% on the NYSE in the past year. The Zacks Consensus Estimate for its current fiscal-year earnings has moved up 5.3% in the past 60 days. The consensus estimate indicates a rise of 23.2% from the previous year’s reported number. Currently, IBN carries a Zacks Rank #2 (Buy).
Price and Consensus: IBN
Itaú Unibanco: Headquartered in Sao Paulo, Brazil, this Zacks Rank #2 company, together with its subsidiaries, provides a vast array of credit and other financial services to a diverse customer base of individuals and companies in and outside Brazil via their international branches, subsidiaries and affiliates.
Intensive use of technology and electronic distribution channels serve as a competitive advantage for the company. ITUB has been expanding in Brazil and abroad on the back of strategic acquisitions. In 2022, the company acquired an 11.4% equity stake in XP Inc. Also, it inked a deal to acquire Ideal Holding to bolster its investment ecosystem and completed the first phase of the deal on Mar 31, 2023.
In 2020, Itau Unibanco completed the first phase of acquiring a 52.96% stake in Zup IT Servicos, aiding the development of digital transformation projects, and offering functionalities and digital products to its customers. In 2017, ITUB acquired Citigroup’s Brazilian consumer banking business. Such inorganic growth efforts are expected to support the company’s top line in the upcoming quarters.
Itau Unibanco has also displayed growth in revenues from commissions and fees, and results from insurance operations. The metric witnessed a compound annual growth rate (CAGR) of 4.6% over the three years ended 2022, with the uptrend continuing in the first nine months of 2023.
Given the company’s preeminent position in the asset management and investment banking businesses in Latin America, and growth opportunities in the insurance space, the metric is likely to keep improving in the quarters ahead, thus supporting the top line.
Shares of ITUB have gained 32.1% on the NYSE in the past 12 months. The Zacks Consensus Estimate for the company’s 2024 earnings has moved up 1.3% in the past 60 days. The estimate implies a year-over-year rise of 9.9%.
Price and Consensus: ITUB
Deutsche Bank: Headquartered in Frankfurt am Main, this is the largest bank in Germany and one of the largest financial institutions in the world, as measured by total assets. It offers a wide variety of investment, financial and related products and services.
Growth in net revenues has been a key strength at Deutsche Bank. The metric has seen a CAGR of 5.5% over the three years ended 2022, with the uptrend continuing in the first nine months of 2023. Notably, the bank’s efforts to shift focus from investment banking to more stable businesses, such as private bank, corporate bank and the asset management unit, will likely continue to aid revenues in the upcoming period.
Solid deposit balances also support DB’s financials. Though deposit balances declined in the first nine months of 2023 due to migration into higher-yielding investment products and continued inflationary pressure, the metric witnessed a CAGR of 2.4% over the four years ended 2022.
The company benefits from its well-diversified deposit base across various client segments and regions. Also, its loan-to-deposit ratio as of Sep 30, 2023, was 79.3%, reflecting a strong and stable funding base. Thus, we believe that the stable deposit balance will strengthen the company’s balance sheet.
The Zacks Consensus Estimate for the company’s 2024 earnings has been revised upward by 4.7% over the past 60 days. The estimate indicates a year-over-year rise of 7.8%. Shares of DB have lost 3% on the NYSE in the past year. The company currently sports a Zacks Rank #1 (Strong Buy).
Price and Consensus: DB
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https://www.zacks.com/commentary/2217653/3-stocks-to-consider-from-the-prospering-foreign-banks-industry
| 2024-01-30T22:46:45Z
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The Zacks Diversified Communication Services industry appears to be mired in high capital expenditures for 5G infrastructure upgrades, unpredictable raw material prices, supply-chain disruptions amid the prolonged Russia-Ukraine war and Israel-Hamas conflict, China’s soft market conditions and high customer inventory levels. However, the industry is likely to benefit in the long run from an accelerated 5G rollout and increased fiber densification.
Nevertheless, Swisscom AG (SCMWY - Free Report) , PT Telekom Indonesia (TLK - Free Report) and Telefonica Brasil S.A. (VIV - Free Report) should benefit in the long run from higher demand for scalable infrastructure for seamless connectivity amid the wide proliferation of IoT and transition to cloud network.
Industry Description
The Zacks Diversified Communication Services industry comprises firms that provide a wide array of communication services, including wireless, wireline and Internet, to business enterprises and consumers. These companies offer mobile and wireline telephone services, high-speed Internet, direct-to-home satellite television and other value-added services. In addition to providing integrated information and communications technology services to businesses and governments, some of these companies operate as local exchange carriers or full-service providers of data center colocation and related managed services in state-of-the-art data center facilities. Some industry participants also provide IP networks, private lines, network management and hosting services, along with sales, installation and maintenance of major branded IT and telephony equipment.
What's Shaping the Future of the Diversified Communication Services Industry?
Persistent Demand Erosion: Efforts to offset substantial capital expenditure for upgrading network infrastructure by raising fees have reduced demand, as customers tend to switch to lower-priced alternatives. Moreover, local-line access for traditional telephony services continues to decline due to higher wireless substitution and migration to IP-based services. This is reflected in the persistent erosion in overall network access services on a year-over-year basis, hurting revenues of local and long-distance operations. In addition, a shift toward wireless services and the aggressive rollout of VoIP and long-distance services have resulted in access line erosion. These adverse impacts have become more pronounced with the soft economic recovery in China, the prolonged Russia-Ukraine war and the Israel-Hamas conflict.
Escalated Production Costs: Although the supply chain woes have declined progressively, the industry continues to face a dearth of chips, which are the building blocks for various equipment used by telecom carriers. Moreover, high raw material prices due to inflation and economic sanctions against the Putin regime have affected the operation schedules of various firms. Extended lead times for basic components are also likely to hurt the delivery schedule and escalate production costs. The demand-supply imbalance has crippled operations and largely affected profitability due to inflated equipment prices.
Short-Term Profitability Compromised: Video and other bandwidth-intensive applications have witnessed exponential growth owing to the wide proliferation of smartphones and increased deployment of the superfast 5G technology. This has forced the industry participants to invest considerably in LTE, broadband and fiber to provide additional capacity and ramp up the Internet and wireless networks. These companies are rapidly transforming themselves from legacy copper-based telecommunications firms to technology powerhouses with capabilities to meet the growing demand for flexible data, video, voice and IP solutions. At the same time, the industry participants continue to focus on leveraging wireline momentum, expanding media coverage, improving customer service and achieving a competitive cost structure to generate higher average revenue per user while attracting new customers. Although these infrastructure investments are likely to be beneficial in the long run, short-term profitability has largely been compromised.
Integrated Service Offering: To improve profitability, the companies are increasingly focusing on providing support services to various small and mid-sized businesses (SMBs) with an integrated portfolio of voice, data and technology services. The firms are tailoring their services to suit individual business needs and are facilitating SMBs to better adapt themselves to necessary technology advancements. The industry is battling hard-to-mitigate operating risks stemming from volatility in demand, an unpredictable business environment and challenging geopolitical scenarios by offering free services to low-income families and seamless wireless connectivity to the masses.
Zacks Industry Rank Indicates Bearish Trends
The Zacks Diversified Communication Services industry is housed within the broader Zacks Utilities sector. It carries a Zacks Industry Rank #178, which places it in the bottom 29% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Before we present a few diversified communication stocks that are well-positioned to outperform the market based on a relatively modest earnings outlook, let’s take a look at the industry’s recent stock market performance and valuation picture.
Industry Lags S&P 500, Outperforms Sector
The Zacks Diversified Communication Services industry has lagged the S&P 500 composite but has outperformed the broader Zacks Utilities sector over the past year largely due to macroeconomic headwinds.
The industry has lost 1.1% over this period against the S&P 500’s growth of 22.8% and the sector’s decline of 8.9%.
One Year Price Performance
Industry's Current Valuation
On the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), which is the most appropriate multiple for valuing telecom stocks, the industry is currently trading at 13.36X compared with the S&P 500’s 14.23X. It is trading below the sector’s trailing 12-month EV/EBITDA of 15.74X.
Over the past five years, the industry has traded as high as 18.45X, as low as 8.36X and at the median of 13.11X, as the chart below shows.
Trailing 12-Month enterprise value-to EBITDA (EV/EBITDA) Ratio
3 Diversified Communication Services Stocks to Bet on
Swisscom: Headquartered in Bern, Switzerland, Swisscom offers mobile and fixed-network telecommunications services across the country and Italy. A wealthy domestic market with stable economic conditions, a relatively lax regulatory environment compared to the EU, its dominant market position and a strong leadership team are some of the key growth drivers of the company. With a complete spectrum of state-of-the-art data services, from leased lines to integrated solutions for corporate and residential customers, Swisscom’s healthy growth momentum is likely to continue. The Zacks Consensus Estimate for current-year and next-year earnings has been revised upward by 19.3% and 19.6%, respectively, since January 2023. The stock carries a Zacks Rank #2 (Buy).
Price and Consensus: SCMWY
PT Telekom: Headquartered in Bandung, Indonesia, PT Telekom offers mobile communication, fixed-line communication and broadcasting services worldwide. The company has collaborated with Indosat Ooredoo Hutchison, which is likely to contribute significantly toward the growth of the country’s digital ecosystem and economy. This Zacks Rank #2 stock has a VGM Score of B. PT Telekom has a long-term earnings growth expectation of 12.4%.
Price and Consensus: TLK
Telefonica Brasil: Based in Sao Paulo, Brazil, Telefonica Brasil is the subsidiary of Spain-based telecom giant Telefonica SA. The company has been actively investing in technology upgrades and broadband network expansion to retain competitiveness in the rapidly changing market. Its unique value proposition, coupled with excellent customer experience, should help it register net additions in postpaid. The Zacks Consensus Estimate for current-year earnings has been revised 25% upward over the past year. Telefonica Brasil has a long-term earnings growth expectation of 18.7%. This Zacks Rank #2 stock has gained 31% in the past year.
Price and Consensus: VIV
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| 2024-01-30T22:47:10Z
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Although the midstream energy business is less exposed to oil and gas price volatility, the Zacks Oil and Gas - Production & Pipelines industry’s outlook is still subjected to uncertainties. Due to conservative capital spending by upstream players and slowing global fuel consumption growth, demand for partnerships’ midstream assets may get dented.
Despite the uncertainties, pipeline players are better off than upstream and downstream firms since the partnerships generate stable fee-based revenues from their long-term contracts with shippers. The industry frontrunners include Enbridge Inc. (ENB - Free Report) , Kinder Morgan, Inc. (KMI - Free Report) , The Williams Companies Inc (WMB - Free Report) and MPLX LP (MPLX - Free Report) .
About the Industry
The Zacks Oil and Gas - Production & Pipelines industry comprises companies that own and operate midstream energy infrastructure assets. The properties consist of extensive pipeline networks that transport crude oil, liquids and natural gas. The midstream energy players are also involved in the processing and storing of natural gas. The companies have interests in natural gas distribution utilities, serving millions of retail customers across North America. Some companies are ramping up investments in renewable energy and power transmission businesses. The firms invested in wind farms, solar energy operations, geothermal projects and hydroelectric facilities. Thus, with a diversified portfolio of renewable energy projects, the firms have room to generate extra cash flows in addition to stable fee-based revenues from the transportation assets.
What's Shaping the Future of Oil & Gas - Production and Pipelines Industry?
Slowing Global Liquid Fuel Consumption Growth: Global liquid fuel consumption has decelerated, signaling the conclusion of the growth linked to the recovery from the pandemic. This, in turn, will lower the demand for oil pipeline assets of the partnerships.
Lower Fee-Based Revenues: Soft demand for midstream assets might ultimately lead to lower fee-based revenues for the master limited partnerships. Also, to sail through soft demand for pipeline networks, several energy players with midstream presence will likely have no option but to offer discounts to shippers.
Shift to Renewables: Energy majors will increasingly face challenges in providing sustainable energy to the world while reducing greenhouse gas emissions. Thus, to address the issue of climate change, there will be a gradual shift from fossil fuel to renewable energy. This will lower the demand for the partnerships’ pipeline and storage networks for oil and natural gas.
Explorers’ Conservative Capital Spending: Oil and gas exploration and production companies are facing heightened pressure from investors to focus on stockholders’ returns rather than production. This is hindering the production growth of commodities, thereby denting demand for pipeline and storage assets.
Zacks Industry Rank Indicates Bleak Prospects
The Zacks Oil and Gas - Production & Pipelines is an 11-stock group within the broader Zacks Oil - Energy sector. The industry currently carries a Zacks Industry Rank #170, which places it in the bottom 32% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates gloomy near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Despite the cloudy prospects, we present a few stocks that investors can retain or keep an eye on, given their solid potential. But before that, let’s take a look at the industry’s recent stock market performance and its current valuation.
Industry Lags S&P 500, Outperforms Sector
The Zacks Oil and Gas - Production & Pipelines industry has lagged the Zacks S&P 500 composite, but outperformed the broader Zacks Oil - Energy sector over the past year.
The industry has jumped 6.7% over this period compared with the 24.8% rise of the S&P 500 and 0.2% decline of the broader sector.
One-Year Price Performance
Industry's Current Valuation
Based on the trailing 12-month enterprise value-to EBITDA (EV/EBITDA), which is a commonly used multiple for valuing oil and gas production & pipeline stocks, the industry is currently trading at 12.07X, lower than the S&P 500’s 14.23X. It is also above the sector’s trailing 12-month EV/EBITDA of 3.66X.
Over the past five years, the industry has traded as high as 15.04X, as low as 8.89X and at a median of 12.76X.
Trailing 12-Month Enterprise Value-to EBITDA (EV/EBITDA) Ratio
4 Oil & Gas Pipeline Stocks to Keep a Close Eye On
MPLX: MPLX generates stable cashflows and has lower exposure to commodity price volatility since it is the operator of midstream energy infrastructure and logistics assets. It also generates cashflows from a relatively stable fuel distribution business.
The partnership, currently carrying a Zacks Rank #3 (Hold), has attractive organic growth capital projects and is pursuing low-carbon opportunities.
Price and Consensus: MPLX
Kinder Morgan: With its operating interests in oil and gas pipeline networks spread across 83,000 miles, Kinder Morgan is a leading energy infrastructure company in North America. It derives most of its earnings from take-or-pay contracts, generating stable fee-based revenues.
Kinder Morgan, with a Zacks Rank of 3, is poised to grow more on the back of its business model, which is relatively resilient to volume and commodity price risks.
Price and Consensus: KMI
Enbridge: With majority of its midstream assets under long-term contracts, the company’s business model seems extremely stable. A huge backlog of growth projects will aid Enbridge, carrying a Zacks Rank #2 (Buy), in generating incremental fee-based revenues.
Price and Consensus: ENB
The Williams Companies: The Williams Companies is well-poised to capitalize on the mounting demand for clean energy since it is engaged in transporting, storing, gathering and processing natural gas and natural gas liquids.
With its pipeline networks spread across more than 30,000 miles, The Williams Companies connects premium basins in the United States to the key market. With a Zacks Rank of 3 at present, WMB’s assets can meet 30% of the nation’s natural gas consumption, utilized for heating purposes and clean-energy generation.
Price and Consensus: WMB
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https://www.zacks.com/commentary/2217795/4-oil-pipeline-stocks-to-gain-despite-industry-challenges
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Despite weak commodity prices and high costs marring the near-term outlook of the Zacks Manufacturing - Farm Equipment industry, it will gain from sustained demand for agricultural equipment required to feed a growing population.
Major players like Deere (DE - Free Report) , Kubota (KUBTY - Free Report) , Alamo Group (ALG - Free Report) and Lindsay (LNN - Free Report) are well-poised to benefit from this demand by expanding their product offerings. The industry’s emphasis on revolutionizing agriculture with technology to make farming automated and more precise is expected to be a major catalyst. Deere, CNH Industrial (CNHI - Free Report) and others are thus actively investing in upping their technology game.
About the Industry
The Zacks Manufacturing - Farm Equipment industry comprises companies that manufacture agricultural equipment. These equipment include tractors, combines, cotton pickers and harvesting equipment; tillage, seeding and application equipment, consisting of sprayers, nutrient management and soil preparation machinery; and hay and forage equipment, comprising self-propelled forage harvesters and attachments, balers and mowers. Some of the companies in the industry also produce turf and utility equipment, consisting of riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, commercial mowing equipment, and garden tillers and snow throwers. Some participants manufacture irrigation equipment. Deere, CNH Industrial and AGCO presently hold the positions as the top three global manufacturers of agricultural equipment (in that order).
Trends Shaping the Future of the Manufacturing - Farm Equipment Industry
Low Commodity Prices Act as a Woe: High interest rates and a strong dollar took a toll on agricultural commodity prices last year. Soybean, corn and wheat prices have dipped lately as supply prospects from South America have improved due to favorable weather conditions in the backdrop of low demand. Demand in China for soybeans as animal feed is expected to go down due to the government’s efforts to reduce and substitute the use of soybeans in animal feed to decrease reliance on imports. Chicago corn futures have dropped to $4.40 per bushel at three-year lows. Wheat futures have fallen below $6 per bushel. Low commodity prices will weigh on farm income and might influence the investment decision-making for farmers.
High Costs & Supply-Chain Issues Are Worrisome: The industry has not been immune to the rampant cost inflation prevailing in the sector. Constraints on the availability of raw materials, labor and trucking resources had led to higher lead times for deliveries. However, the industry players have recently been reporting improvements in the supply chain. The companies have been implementing pricing and cost-reduction actions, which are likely to help sustain margins.
Need for Food to Drive Demand for the Industry: Despite the volatility in commodity prices, agricultural equipment demand will continue to be supported by increased global demand for food, stemming from population growth and an increasing proportion of the population aspiring for better living standards. The U.S. agricultural machinery market is projected to reach $52.73 billion by 2027, seeing a compound annual growth rate (CAGR) of 3.3% over 2021-2027. Farm size has been on the rise in the United States, which calls for more laborers. Given the escalation in labor costs every year, farmers are resorting to farming equipment to replace labor.
Technologically Advanced Machinery Continues to Gain Popularity: Customers are increasingly relying on advanced technology, smart farming solutions and mechanization to run their operations. Thus, the industry participants are enhancing investments in launching products equipped with advanced technologies and features to keep up with customers' evolving demands. Precision agriculture technology is expected to be a key catalyst, as it enables farmers to increase yield with reduced input costs and sustainability benefits. Deere, CNHI and AGCO are currently the forerunners in this. CNH Industrial’s acquisition of Raven Industries in November 2021 is a milestone in the company’s digital transformation. It expanded CNHI’s portfolio of precision agriculture technology offerings, and accelerated the development of advanced machine automation and autonomous agriculture technology. The company recently acquired global satellite navigation technology leader Hemisphere, boosting its in-house precision, automation and autonomy technology. CNHI is working toward its plan to reduce reliance on third parties and attain leadership in automation technology.
Zacks Industry Rank Indicates Dull Prospects
The Zacks Manufacturing - Farm Equipment industry is part of the broader Zacks Industrial Products sector. The industry currently carries a Zacks Industry Rank #178, which places it at the bottom 29% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dim prospects in the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Despite the bleak near-term prospects of the industry, we will present a few Manufacturing - Farm Equipment stocks that can be retained in one’s portfolio. It is worth taking a look at the industry’s stock-market performance and valuation picture before that.
Industry Underperform Sector and S&P 500
The Zacks Manufacturing - Farm Equipment industry has underperformed its sector and the Zacks S&P 500 composite over the past 12 months. Stocks in this industry have fallen 11.6% in the past 12 months against the S&P 500’s growth of 8.6%. The Industrial Products sector has gained 21.0% in the said time frame.
One-Year Price Performance
Industry's Current Valuation
On the basis of the forward EV/EBITDA ratio, which is a commonly used multiple for valuing farm equipment stocks, we see that the industry is currently trading at 27.95X compared with the S&P 500’s 11.28X. The Industrial Products sector’s forward 12-month EV/EBITDA is 17.19X. This is shown in the charts below.
Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)
Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)
Over the last five years, the industry traded as high as 37.70X and as low as 15.77X, the median being 25.10X.
4 Manufacturing - Farm Equipment Stocks to Keep an Eye on
Kubota: The company has formulated its long-term vision, “GMB2030.” It has been progressing with initiatives to realize smart agriculture with the aim of providing solutions that will improve the productivity and safety of food. Agricultural machine automation is one of the key pillars of these initiatives. The company recently invested in Chouette — an AgTech company that uses artificial intelligence (AI) technology to analyze images captured by cameras to detect diseases and tree vigor, and, based on the data analysis, creates the optimal spray volume of chemicals by unique algorithms. The company will continue to benefit from strong demand for its agricultural equipment. Demand for its construction equipment will be supported by increased infrastructure spending in the United States. Prospects look promising in other parts of the world as well.
Osaka, Japan-based Kubota manufactures and markets machinery and related solutions in the food, water and environment markets in Japan, North America, Europe, the rest of Asia, and internationally. The Zacks Consensus Estimate for the company’s earnings for fiscal 2024 has been unchanged in the past 30 days and is pegged at $5.56. The company has a trailing four-quarter earnings surprise of 31.2%, on average. It has an estimated long-term earnings growth rate of 10.7% and currently sports a Zacks Rank #1 (Strong Buy).
Price & Consensus: KUBTY
Deere: The company is witnessing solid growth in order levels, which is expected to aid its top-line performance. DE will continue to benefit from its focus on launching products equipped with advanced technologies and features that provide it with a competitive edge. Efforts to expand in precision agriculture will be a significant growth driver. Replacement demand, triggered by the need to upgrade old equipment, will continue to support its revenues. Considering that Deere also makes construction equipment, it will benefit from strong demand in the residential and non-residential construction markets. DE’s cost-control actions have been supporting margins despite the persistent inflationary pressures.
The Zacks Consensus Estimate for the Moline, IL-based company’s fiscal 2024 earnings has been unchanged over the past 30 days and is pegged at $28.46. The estimate implies year-over-year growth of 46%. DE has a trailing four-quarter earnings surprise of 16.7%, on average. Deere currently has an estimated long-term earnings growth rate of 12.1% and carries a Zacks Rank #3 (Hold).
Price & Consensus: DE
Alamo: Customer demand has been strong in the company’s end markets, which aided ALG in delivering record sales and earnings in the third quarter of 2023, thereby maintaining the trend of solid performances for eight straight quarters. An enhanced supply-chain performance has also benefited sales through this period, while efforts to improve efficiency and lower costs have led to margin expansion. Strong order levels in the Vegetation Management and Industrial Equipment segments bode well for solid performances in the quarters ahead. The acquisition of Timberwolf in October 2023 complements its existing range of tree care products and strengthens its presence in the U.K. and European forestry and tree care markets. ALG also acquired Royal Truck & Equipment, a leading producer of specialized highway safety equipment, including crash attenuator trucks. This marks the company’s foray into the highway safety equipment market, which has solid growth potential.
The Zacks Consensus Estimate for the Seguin, TX-based company’s ongoing-year earnings has been unchanged in 30 days’ time and is pegged at $13.17 per share. The consensus mark implies year-over-year growth of 13.6%. ALG has a trailing four-quarter earnings surprise of 19.8%, on average. It currently carries a Zacks Rank #3.
Price & Consensus: ALG
Lindsay: Increased concerns around food security will drive growth in the international irrigation markets, which bodes well for the company. Lindsay’s infrastructure business is positioned to grow on strong momentum in the Road Zipper System in the future. The business is well-poised for growth in the long run, backed by strong demand for transportation safety products and higher infrastructure spending. Lindsay recently announced plans to invest more than $50 million (the largest in its history) over the next two years in its manufacturing facility in Lindsay, NE. Plans for the modernization include implementing Industry 4.0 technologies, including data connectivity, analytics, artificial intelligence, and the addition of automation and robotics. This will help the company bring its latest innovations, including the Smart Pivo, to market while improving efficiency, enhancing product quality through better monitoring and adjustment of production systems and addressing labor availability challenges.
The Zacks Consensus Estimate for the company’s fiscal 2024 earnings is pegged at $6.29, suggesting year-over-year growth of 26%. LNN has a trailing four-quarter earnings surprise of 10.9%, on average. The company has an estimated long-term earnings growth rate of 10%. This Omaha, NE-based company currently carries a Zacks Rank #3.
Price & Consensus: LNN
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| 2024-01-30T22:47:39Z
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Earnings season continues to chug along, with a wide variety of companies reporting daily. This week, in particular, is dominated by mega-cap technology companies, a list that includes the likes of Apple, Amazon, and Meta Platforms, just to name a few.
As usual, there have been several notably strong releases throughout the cycle so far, a few of which have come from Super Micro Computer (SMCI - Free Report) , Netflix (NFLX - Free Report) , and American Express (AXP - Free Report) . All three saw their shares move higher post-earnings and currently sport a favorable Zacks Rank, with the latter reflecting optimism among analysts.
For those seeking post-earnings momentum, let’s take a closer look at each.
Super Micro Computer
Enjoying tailwinds stemming from the AI-frenzy, Super Micro Computer, a Zacks Rank #1 (Strong Buy), is the premier provider of advanced Server Building Block Solutions for 5G/Edge, Data Center, Cloud, Enterprise, Big Data, HPC, and Embedded markets worldwide.
Concerning headline figures, SMCI posted a 2% beat relative to the Zacks Consensus EPS estimate and exceeded sales expectations by 14%, representing growth rates of 70% and 103%, respectively. The better-than-expected results caused buyers to swarm, with SMCI shares now up a staggering 80% year-to-date.
Image Source: Zacks Investment Research
Demand for the company’s solutions has been scorching-hot, with Super Micro Computer continuing to win new partners throughout the period. And undoubtedly a major positive, current customers are demanding even more of its solutions, helping explain the remarkable top line growth. The favorable environment led SMCI to raise its FY24 sales outlook into a band of $14.3 - $14.7 billion.
The stock remains a prime selection for growth investors seeking AI exposure, further reinforced by its Style Score of ‘A’ for Growth. Analysts have already taken their revenue expectations well higher for its current fiscal year and will continue doing so following the guidance lift.
Image Source: Zacks Investment Research
Netflix
Streaming giant Netflix has enjoyed positive earnings estimate revisions across the board, landing it into a Zacks Rank #1 (Strong Buy). Earnings expectations jumped higher following its latest quarterly release.
Image Source: Zacks Investment Research
The company fell short of the Zacks Consensus EPS Estimate by a fair margin but posted revenue 1.3% ahead of expectations, reflecting growth rates of 1650% and 12%, respectively. Subscriber additions throughout the period totaled 13.1 million, well above the 7.7 million mark in the year-ago period and reflecting a Q4 record.
Netflix’s top line is showing signs of acceleration.
Image Source: Zacks Investment Research
In addition, the profitability picture improved in a big way, as operating income throughout the period totaled $1.5 billion vs. $0.5 billion previously, with operating margin improving to 17% from 7% in the same period last year.
American Express
American Express, a current Zacks Rank #2 (Buy), is a well-known diversified financial services company. Earnings expectations have inched higher across the board, with positive revisions following its latest set of quarterly results.
Image Source: Zacks Investment Research
Earnings and revenue both fell short of consensus expectations but reflected solid growth, with earnings climbing 27% and revenue seeing an 11% boost from the year-ago period. Growth has been driven by continued strength among Card Member spending, with credit metrics also remaining strong.
And to top off the results, AXP announced plans of a 17% hike to its quarterly dividend, bringing the payout to $0.70 per share. AXP’s top line remains visibly healthy, as shown below.
Image Source: Zacks Investment Research
Up nearly 9% in 2024, American Express shares have shown solid relative strength compared to the S&P 500’s nearly 4% gain. Price action looks to continue favorably given rising earnings estimate revisions and solid quarterly results.
Bottom Line
Earnings season continues its rapid pace this week, with the likes of several mega-cap technology companies dominating the reporting docket.
So far, we’ve gotten several strong reports, a few of which have come from Super Micro Computer (SMCI - Free Report) , Netflix (NFLX - Free Report) , and American Express (AXP - Free Report) . All three saw shares move higher post-earnings and sport favorable Zacks Ranks, reflecting positive momentum.
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| 2024-01-30T22:48:00Z
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Media companies’ results this earnings season are likely to reflect consumers’ growing preference for over-the-top (OTT) content consumption. The rise of streaming platforms has resulted in audiences moving away from traditional cable and satellite subscriptions.
The decline in ratings for broadcast television and the reduced demand for theatrical content sales pose significant challenges for industry participants. Advertisers' hesitant spending, driven by concerns over inflation and higher interest rates, has added to the industry's woes amid an increasing rate of cord-cutting and stiff competition from subscription video-on-demand and virtual Multichannel Video Programming Distributor services.
Despite stiff competition, industry players are benefiting from the spike in the demand for high-speed broadband. Strong demand for WiFi devices and wireless Internet has been a boon.
Diversified content offerings, which are original, regional, short and suitable for small screens (smartphones and tablets), improved Internet speed and penetration, and technological advancement are benefiting the industry participants. As monetization and revenues in terms of ad-spend continue to be subdued, profit protection and cash management with greater technology integration have gained strategic significance and are expected to have driven the top lines of industry participants like Disney (DIS - Free Report) and Paramount Global (PARA - Free Report) in the soon-to-be-reported quarter.
Industry Trends to Drive Growth
Investing in media companies at the forefront of the digital transformation, leveraging original content creation and the wave of high-speed Internet demand, presents a compelling opportunity. The convergence of these factors positions such companies to capture new revenue streams, expand internationally and navigate the evolving media landscape successfully.
The industry's pivot toward digital platforms is driving a surge in original content creation. Media companies like Warner Bros. Discovery (WBD - Free Report) are investing heavily in producing high-quality, exclusive content to meet the demands of a discerning audience. This shift is not only a response to changing consumption patterns but also a proactive strategy to differentiate and compete in a crowded digital space. Successful content creation not only enhances subscriber loyalty but also opens avenues for additional revenue streams through licensing and syndication deals.
Media companies are also experiencing a paradigm shift in revenue generation, moving beyond traditional TV platforms. The ability to harness ad revenues from diverse digital channels, including websites and other digital platforms, presents a significant growth opportunity. Target-based advertising, facilitated by the data-rich digital environment, is becoming a cornerstone for revenue diversification.
The growing preference for digital and subscription services over linear pay television has compelled media companies to alter their business models. Acknowledging the shift in consumer behavior, industry players are adopting alternative business models, such as skinny bundles, to provide more cost-effective options to consumers. These bundles, delivered at lower costs than traditional offerings, aim to attract a wider audience and enhance the industry's competitiveness.
The surge in demand for high-speed Internet, including broadband, is a pivotal catalyst propelling the growth of industry participants like Rogers Communications and Charter. Faster Internet speeds are fostering a preference for high-quality video content and the trend of binge-watching. The strengthening broadband ecosystem on a global scale, coupled with the proliferation of smart TVs, creates a conducive environment for media companies to thrive. As consumers seek seamless, high-quality content delivery, companies providing engaging digital experiences stand to benefit from the expanding market.
Continuous investment in technology, content innovation and strategic partnerships will be crucial to staying ahead in this dynamic landscape.
How to Make the Right Pick?
With the existence of a number of industry players, finding media stocks that have the potential to beat earnings estimates can be daunting. Our proprietary methodology, however, makes it fairly simple.
You could narrow down your choices by looking at stocks that have the perfect combination of two key elements: a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP is our proprietary methodology for determining stocks that have maximum chances of beating estimates at their next earnings announcement. It is the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate.
Our research shows that for stocks with this favorable mix of ingredients, the odds of an earnings surprise are as high as 70%.
Best Bets
Given below are two media stocks that have the favorable combination to beat on earnings this reporting cycle:
Disney is slated to report first-quarter fiscal 2024 results on Feb 7. The company currently has an Earnings ESP of +0.13% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Disney has been benefiting from a solid revival in the domestic and international theme park businesses. Latest attractions like the Frozen theme land at Hong Kong Disneyland and Walt Disney Park in Paris, as well as the Zootopia theme land at Shanghai Disney, are expected to have aided the theme park business.
The company’s focus on sports streaming, particularly Live Sports on ESPN+, remains a key catalyst in driving viewership. The renewal of the MLB sports rights deal through 2028 and the agreement with Spanish club football’s first division, La Liga, further strengthened the portfolio of its sports content.
The Zacks Consensus Estimate for earnings has moved south by 1% to $1 per share in the past 30 days.
Paramount Global is slated to report fourth-quarter 2023 results on Feb 28. The company currently has an Earnings ESP of +144.95% and carries a Zacks Rank #3.
Paramount Global has been benefiting from a spike in viewership for its streaming services, boosted by the strong adoption of Paramount+. An expanding content catalog of live sporting events and a solid portfolio of streaming services (both advertising and subscription-based offerings), including CBS All Access, Showtime OTT, Pluto TV, Noggin, and BET+, are expected to have boosted viewership in the to-be-reported quarter.
Moreover, subscriber growth is expected to have been boosted by the launch of Paramount+ with SHOWTIME plan, a cornerstone integration that makes Paramount+ the new streaming home for SHOWTIME.
The Zacks Consensus Estimate has remained steady at a loss of 4 cents per share in the past 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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| 2024-01-30T22:48:21Z
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Investors eyeing opportunities in the Apparel industry's dynamic landscape should consider well-positioned stocks. Companies showcasing a superior product strategy, advanced omnichannel capabilities, prudent capital investments and an extensive customer reach are primed for success in 2024.
Why Apparel Stocks?
The Apparel industry is gearing up for a year of substantial growth, driven by the confluence of factors that are transforming the landscape. The increasing millennial population, coupled with rising disposable income and enhanced internet accessibility, sets the stage for industry expansion, offering diverse fashion choices to consumers.
Affordable fashion lines and effective branding are pivotal drivers of the industry's upward trajectory. This approach caters to evolving consumer tastes, establishing a resilient foundation for sustained growth. Balancing cost-effectiveness and style has broadened the consumer base, positioning the industry for ongoing success.
The interplay between brand awareness, personalized product offerings and the digital landscape is reshaping the industry. Retailers leverage digital platforms to enhance customer engagement, streamline shopping experiences and stay competitive. This strategic approach ensures consumers enjoy unprecedented access to an expanding array of fashion choices.
The industry's performance is closely linked to consumers' purchasing power, which has demonstrated resilience despite economic challenges. According to 2023 holiday sales data from the National Retail Federation, clothing and clothing accessory stores experienced a 3% year-over-year increase in sales.
Anticipating a potential interest rate cut by the Federal Reserve in 2024, especially if inflation trends move downward, expectations rise for a further boost to consumer spending. This optimistic scenario is likely to encourage discretionary purchases, including clothing. With this in mind, we have identified four apparel stocks carrying a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Past 6-Month Price Performance
Image Source: Zacks Investment Research
4 Prominent Picks
Investors can count on Abercrombie & Fitch Co. (ANF - Free Report) . The company's ability to adapt, innovate and connect with customers positions it for a prosperous future. Abercrombie & Fitch’s regional operating model, with a focus on the Americas, the EMEA and the APAC, provides a solid foundation for global expansion. Its strong brand portfolio, operational efficiency and regional strategy make it an attractive investment opportunity as it continues to navigate and thrive in the evolving retail landscape.
This leading, global, omnichannel specialty retailer of apparel and accessories for men, women and kids delivered a trailing four-quarter earnings surprise of 713%, on average. The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial-year sales suggests growth of 15.1% from the year-ago period. The stock sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters, Inc. (AEO - Free Report) is another potential pick. The company’s efforts to rationalize inventory and contain costs are paying off. The strong performance of key brands like American Eagle and Aerie, coupled with expansions into premium and activewear segments, indicates potential for growth. Its store designs and online enhancements demonstrate a commitment to improving the customer experience.
The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal sales and EPS suggests growth of 5% and 45.4%, respectively, from the year-ago reported figure. AEO, which sports a Zacks Rank #1, delivered a trailing four-quarter earnings surprise of 23%, on average.
Hibbett, Inc. (HIBB - Free Report) is worth considering. Hibbett boasts distinct competitive advantages, including superior customer service, a best-in-class omnichannel shopping experience, strong vendor relationships, strategic in-store placement and a presence in underserved markets. These advantages contribute to the company's ability to maintain and grow its market share. The company’s focus on improved expense management and disciplined inventory controls demonstrates a commitment to operational efficiency.
The Zacks Consensus Estimate for Hibbett’s current fiscal sales suggests growth of 1.7% from the year-ago reported figure. This Zacks Rank #2 company has a trailing four-quarter earnings surprise of 24.2%, on average.
Deckers Outdoor Corporation (DECK - Free Report) is a promising choice. The company has been targeting profitable and underpenetrated markets, emphasizing product innovations, store expansion and the strengthening of e-commerce capabilities. The company’s focus on expanding brand assortments, bringing more innovative lines of products, targeting consumers digitally and optimizing omnichannel distribution positions it for continued success.
Impressively, the Zacks Consensus Estimate for Deckers’ current-fiscal sales and EPS calls for growth of 12.4% and 23.4%, respectively, from the year-ago reported figure. This Zacks Rank #2 company has a trailing four-quarter earnings surprise of 26.3%, on average.
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https://www.zacks.com/stock/news/2217699/4-apparel-stocks-that-look-well-poised-for-success-in-2024
| 2024-01-30T22:49:23Z
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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.
The easiest way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.
Let's take a look at some of our top-ranked mutual funds with the lowest fees.
Thrivent Small Cap Stock A (AASMX - Free Report) : 1.05% expense ratio and 0.64% management fee. AASMX is a Small Cap Blend mutual fund, and usually targets stocks with market caps of less than $2 billion, letting investors diversify their funds among other kinds of small-cap equities. With annual returns of 14.11% over the last five years, this fund is a winner.
Columbia Small Cap Value I Class Y (CSVYX - Free Report) is a stand out amongst its peers. CSVYX is a Small Cap Value mutual fund option, which typically invest in companies with market caps under $2 billion. With five-year annualized performance of 13.65%, expense ratio of 0.86% and management fee of 0.81%, this diversified fund is an attractive buy with a strong history of performance.
American Funds Growth and Income Portfolio F1 (GAIFX - Free Report) : 0.37% expense ratio and 0% management fee. GAIFX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset. With a five-year annual return of 10.46%, this fund is a well-diversified fund with a long track record of success.
There you have it. If your financial advisor had you put your money into any of our top-ranked funds, then they've got you covered. If not, you may need to talk.
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https://www.zacks.com/stock/news/2217700/make-the-most-of-your-retirement-with-these-top-ranked-mutual-funds
| 2024-01-30T22:49:29Z
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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 break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.
Goldman Sachs Large Cap Growth Insights IR (GLCTX - Free Report) : 0.68% expense ratio and 0.51% management fee. GLCTX 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. With annual returns of 16.39% over the last five years, this fund is a winner.
John Hancock Disciplined Value I (JVLIX - Free Report) : 0.7% expense ratio and 0.61% management fee. JVLIX 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. With yearly returns of 12.03% over the last five years, JVLIX is an effectively diversified fund with a long reputation of solidly positive performance.
T. Rowe Price New Horizons I (PRJIX - Free Report) : 0.66% expense ratio and 0.64% management fee. PRJIX is one of many Small Cap Growth mutual funds; these funds tend to create their portfolios around stocks with market capitalization of less than $2 billion. With a five-year annual return of 12.88%, 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/2217701/3-magnificent-mutual-funds-to-maximize-your-retirement-portfolio
| 2024-01-30T22:49:36Z
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Investing in mutual funds for retirement is never too late. And the Zacks Mutual Fund Rank can be an excellent tool for investors looking to invest in the best funds.
The best way to shortlist great mutual funds is to ensure solid performance, diversification, and low fees. Some are better than others, but utilizing the Zacks Mutual Fund Rank, we have identified three mutual funds that could be solid additions to one's retirement portfolio.
Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.
Davenport Small Cap Focus Fund (DSCPX - Free Report) has a 0.88% expense ratio and 0.75% management fee. DSCPX is a Small Cap Blend mutual fund, allowing investors a way to diversify their funds among various types of small-cap stocks. With yearly returns of 17.09% over the last five years, this fund clearly wins.
Fidelity Puritan Fund K (FPUKX - Free Report) . Expense ratio: 0.42%. Management fee: 0.38%. FPUKX is classified as an Allocation Balanced fund, which seeks to invest in a balance of asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual. This fund has managed to produce a robust 11.67% over the last five years.
State Street Institutional US Equity Services (SUSSX - Free Report) : 0.65% expense ratio and 0.37% management fee. SUSSX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 16.3% over the last five years.
There you have it. If your financial advisor had you put your money into any of our top-ranked funds, then they've got you covered. If not, you may need to talk.
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https://www.zacks.com/stock/news/2217702/3-top-performing-mutual-funds-to-consider-for-your-retirement-portfolio
| 2024-01-30T22:49:42Z
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The broader equity markets have witnessed intense volatility over the past few trading days as healthy economic and inflation data were partially negated by a relatively soft performance from some blue-chip firms. The recent GDP data revealed that the U.S. economy grew at 3.3% in the fourth quarter compared with broad-based expectations of a 2% rise. This portrays continued economic resiliency despite turbulent geopolitical conditions in the Middle East.
Earlier, the Fed had pledged to cut interest rates several times in 2024 owing to a decelerating inflation trend in the later stages of 2023. The Commerce Department’s personal consumption expenditures price index for December was up 0.2% month-over-month and 2.9% on a year-over-year basis. The December non-farm payrolls report also showed that the jobless rate held steady at 3.7%, while the economy added 216,000 jobs compared with 173,000 revised job additions in November, signifying economic strength.
However, given the soft quarterly results from certain blue-chip stocks, the markets appeared vulnerable to sudden downtrends. This, in turn, signifies that the markets need to brace for intense volatility owing to tempered expectations despite a relatively healthy U.S. economy and GDP data.
Amid the uncertainty, investors often seek to employ time-tested winning strategies to fetch sustained profits. One of the most successful game plans to beat the blues is to bet on momentum stocks when value or growth investing fails to generate the desired profits.
This approach primarily tends to follow the adage, “the trend is your friend.” At its core, momentum investing is “buying high and selling higher.” It is based on the idea that once a stock establishes a trend, it is more likely to continue in that direction because of the momentum that is already behind it. But before we delve deep into it, let us try to fathom why does the momentum strategy at all work?
There are several behavioral biases that most investors exhibit in their decision-making. And these emotional responses, or rather mistakes, make the momentum strategy work.
For example, some investors are anxious about booking losses and hence hold on to losing stocks for too long, hopeful of a rebound in prices. On the other hand, a few investors sell their winners way too early. Momentum investing is one of the best strategies to avoid making such errors in judgment.
Furthermore, investors initially tend to underreact to news, events or data releases. However, once things become clear, they have a habit of going with the flow and overreacting, causing dramatic price reactions. These behavioral problems extend trends, thus opening up huge opportunities for momentum players.
To sum up, momentum investing is a way to profit from the general human tendency to extrapolate current trends into the future. It is based on that gap in time before the mean reversion occurs, i.e., before prices become rational again.
In this context, stocks like Matson, Inc. (MATX - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Logitech International S.A. (LOGI - Free Report) are worth betting on.
Momentum strategies have been known to be alpha-generative over a long period and across market stages. So, this strategy is quite tricky to implement, as detecting these trends is no child’s play.
Here, we have created a strategy to help investors get in on these fast movers and rake in handsome gains. Our screen will help you benefit from both long-term price momentum and a short-term pullback in price.
Screening Parameters
Percentage Change in Price (52 Weeks) = Top #50: This selects the top 50 stocks with the best percentage price change over the last 52 weeks. This parameter ensures we get the best stocks that have appreciated steadily over the past year.
Percentage Change in Price (1 Week) = Bottom #10: From the above 50 stocks, we then choose those that are also among the 10 worst performers over a short one-week period. This parameter picks the ones that have witnessed a short-term pullback in price.
Zacks Rank #1: Stocks sporting a Zacks Rank #1 (Strong Buy) have a proven history of outperformance irrespective of the market conditions. You can see the complete list of today’s Zacks #1 Rank stocks here.
Momentum Style Score of B or Better: A top Momentum Style Score knocks out a lot of the screening process as it takes into account several factors that include volume change and performance relative to its peers. It indicates when the timing is best to grab a stock and take advantage of its momentum with the highest probability of success. Stocks with a Momentum Score of A or B, when combined with a Zacks Rank #1 or 2 (Buy), handily outperform other stocks.
Current Price greater than $5: The stocks must all be trading at a minimum of $5.
Market Capitalization = Top #3000: We have chosen stocks that are among the top 3000 in terms of market value to ensure the stability of price.
Average 20-Day Volume greater than 100,000: A substantial trading volume ensures that these stocks are easily tradable.
Here are three stocks out of the six that made it through this screen:
Headquarters in Honolulu, Hawaii, Matson is a leading provider of ocean transportation and logistics services. The company provides ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska and Guam, as well as to other island economies in Micronesia. Its fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. The stock has gained 72.3% in the past year but declined 6% in the past week. Matson has a Momentum Score of A.
Philadelphia, PA-based Carpenter Technology is a producer and distributor of premium specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, tool steels and drilling tools. The company is a leader in premium specialty alloys, including titanium, nickel, and cobalt, as well as alloys specifically engineered for additive manufacturing processes and soft magnetics applications. The stock has gained 34.3% in the past year but declined 3.4% in the past week. Carpenter Technology has a Momentum Score of A.
Based in Switzerland, Logitech is a global leader in peripherals for personal computers and other digital platforms. It develops and markets innovative products in PC navigation, Internet communications, digital music, home entertainment control, video security, interactive gaming and wireless devices. The stock has rallied 43.8% in the past year but declined 12.5% in the past week. Logitech has a Momentum Score of A.
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 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/2217712/3-momentum-anomaly-stocks-to-bet-on-amid-market-volatility
| 2024-01-30T22:50:07Z
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The homebuilding industry suffered the most over the past two years as multi-decade high inflation compelled the Federal Reserve to adopt a strict monetary tightening policy. High mortgage rates and rising raw material and labor costs prevented buyers from investing in new homes despite high demand.
However, the housing market is showing signs of a slow but steady rebound, as inflation continues to cool and mortgage rates are easing. Although inflation is still above the Fed’s 2% target, it kept its benchmark policy rate steady in the range of 5.25-5.5% in its last three FOMC meetings after hiking it by 525 basis points since March 2022.
Moreover, cooling inflation has finally made Federal Reserve officials change their stance from hawkish to dovish and indicate multiple interest rate cuts in 2024.
Housing Market Poised to Grow
Expectations of a reduced risk-free market interest rate have led to a decrease in mortgage rates since November. Once rate cuts come into effect, the homebuilding market is expected to flourish further as lower borrowing cuts will help both homebuilders and buyers.
The optimism surrounding interest rate cuts this year has seen mortgage rates fall sharply over the past couple of months. The average rate on 30-year fixed mortgages was 6.93% last week. The average 30-year fixed mortgage rate was above 8% just a few months back.
Also, homebuilders are more confident about the future of the housing market in 2024. The National Association of Homebuilders/Wells Fargo Index reading showed that homebuilder confidence jumped to 44 in January, the highest level since September 2023 and up from 37 in December.
Housing starts also increased 7.6% year over year in December to 1.46 million units, surpassing the consensus estimate of 1.44 million units. Building permits increased 1.9% month over month and 6.1% year over year in December to 1.495 million units.
Pending home sales also jumped a solid 8.3% in December on a month-over-month basis. Demand for new homes, which was already there but had slowed drastically over the past couple of years, is rebounding once again as price pressures ease.
Stocks in Focus
Given this situation, the housing market is expected to perform well in 2024 as the Fed gears up to cut rates this year. Investing in homebuilding stocks thus appears to be a wise decision. We have narrowed down our search to four such homebuilding stocks. Each of these stocks carries a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dream Finders Homes, Inc. (DFH - Free Report) is a homebuilding company. DFH operates principally in Florida, Texas, North Carolina, South Carolina, Georgia, Colorado, Virginia and Maryland. Dream Finders Homes is based in Jacksonville, FL.
Dream Finders Homes has an expected earnings growth rate of 2.5% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 9.6% over the last 90 days. DFH presently has a Zacks Rank #2.
PulteGroup (PHM - Free Report) engages in homebuilding and financial services businesses, primarily in the United States. PHM conducts operations through two primary business segments — Homebuilding (which accounted for 97.2% of 2021 total revenues) and Financial Services (2.8%). PulteGroup’s Homebuilding segment offers a wide variety of home designs, including single-family detached, townhouses, condominiums and duplexes at different prices, with a variety of options and amenities to all major customer segments: first-time, move-up and active adult.
PulteGroup’s expected earnings growth rate for the current year is 6.4%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the past 60 days. PHM has a Zacks Rank #2.
D.R. Horton (DHI - Free Report) is one of the leading national homebuilders, primarily engaged in the construction and sale of single-family houses both in the entry-level and move-up markets. DHI’s operations are spread over 91 markets across 29 states in the East, Midwest, Southeast, South Central, Southwest and West regions of the United States. D.R. Horton’s houses are sold under the brand names D.R. Horton - America’s Builder, Emerald Homes, Express Homes and Freedom Homes.
D.R. Horton’s expected earnings growth rate for the current year is 2.5%. The Zacks Consensus Estimate for current-year earnings has improved 3.3% over the past 90 days. DHI has a Zacks Rank #3.
KB Home (KBH - Free Report) is a well-known homebuilder in the United States and one of the largest in the state. KBH’s Homebuilding operations include building and designing homes that cater to first-time, move-up and active adult homebuyers on acquired or developed lands. KB Home also builds attached and detached single-family homes, town homes and condominiums.
KB Home’s expected earnings growth rate for next year is 7.8%. The Zacks Consensus Estimate for current-year earnings has improved 2.2% over the past 90 days. KBH currently carries a Zacks Rank #3.
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https://www.zacks.com/stock/news/2217721/4-stocks-to-watch-as-homebuilding-market-making-steady-rebound
| 2024-01-30T22:50:32Z
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U.S. stock markets continue to show momentum in January after some initial hiccups following an astonishing 2023. Month to date, the Dow, the S&P 500, and the Nasdaq Composite are up 1.1%, 2.5% and 3%, respectively.
A strong U.S. economy along with a steadily dwindling inflation rate, put an end to the fear of a near-term recession and restored hope among market participants that the Fed is likely to achieve the much-hyped soft landing of the economy.
However, market participants remain concerned regarding when the Fed would initiate the first cut in the benchmark interest rate. Recently, a few key Fed FOMC members said that although they believe that the rate hike regime is over, they are yet to be convinced that the economic condition is conducive enough for an immediate rate cut.
The CME FedWatch tool currently shows a 47.7% probability that the central bank will initiate the first rate cut. The probability of the first rate cut was 73% just two weeks ago and more than 90% at the beginning of 2024.
Stocks to Watch
At this stage, it should be wise for investors to accumulate dividend-paying stocks to safeguard their portfolios. In this regard, one should consider stocks that have recently raised their dividend payments. Five such companies are — Yum! Brands Inc. (YUM - Free Report) , Hexcel Corp. (HXL - Free Report) , Arthur J. Gallagher & Co. (AJG - Free Report) , United Rentals Inc. (URI - Free Report) and Heritage Financial Corp. (HFWA - Free Report) .
Yum! Brands is likely to benefit from continued focus on off-premise channels, strategic investments in digital technology and refranchising. YUM has implemented various digital features in mobile and online platforms across all brand segments to enhance the guest experience.
YUM has been working toward accelerating its delivery services and the results have been positive so far. YUM stated that its in-house developed AI module, Automated Inventory Management is expected to be launched across the KFC US system. Also, the emphasis on unit expansion efforts bodes well. YUM currently carries a Zacks Rank #3 (Hold).
On Jan 24, 2024, Yum! Brands declared that its shareholders would receive a dividend of $0.67 per share on Mar 8, 2024. It has a dividend yield of 2.1%. Over the past five years, YUM has increased its dividend six times, and its payout ratio presently stays at 46% of earnings. Check YUM’s dividend history here.
Hexcel’s commercial aerospace business is benefiting from the improvement in global air traffic and demand for Airbus and Boeing’s wide-body programs. The unit may continue to deliver robust performance in the near term.
HXL will also gain from increased defense spending of various nations like the United States. HXL also boasts a solid solvency position. HXL’s current ratio of 3.03 at the end of the third quarter indicates the stock’s capability to pay off its short-term debt. HXL currently carries a Zacks Rank #3.
On Jan 24, 2024, Hexcel declared that its shareholders would receive a dividend of $0.15 per share on Feb 16, 2024. It has a dividend yield of 0.8%. Over the past five years, HXL has increased its dividend three times, and its payout ratio presently stays at 28% of earnings. Check HXL’s dividend history here.
Arthur J. Gallagher is on track to generate both organic (particularly international) and inorganic growth. AJG’s focus on tapping opportunities across the globe bodes well for growth. AJG expects 2023 organic revenues and adjusted EBITDAC margins for the Risk Management and Brokerage segment to be better than the 2022 level.
This solid performance is expected to lead to an increase in cash flows, facilitating the return of wealth to shareholders via share buybacks and dividends. A higher return on equity bodes well. AJG currently carries a Zacks Rank #3.
On Jan 24, 2024, Arthur J. Gallagher declared that its shareholders would receive a dividend of $0.60 per share on Mar 15, 2024. It has a dividend yield of 1%. Over the past five years, AJG has increased its dividend six times, and its payout ratio presently stays at 25% of earnings. Check AJG’s dividend history here.
United Rentals is benefiting from sustained demand in its end markets and the strength of its core rental business. URI’s third-quarter 2023 earnings and revenues grew 26.5% and 23.4%, respectively, driven by higher rental revenues (up 18%), owing to the broad-based recovery of activity across end markets served by the company.
In 2023, URI expects to deliver another profitable year, strong cash flow, and attractive returns for shareholders backed by substantial opportunities across various federally funded projects. URI sees multi-year tailwinds across infrastructure, manufacturing, and energy and power. URI currently carries a Zacks Rank #3.
On Jan 24, 2024, United Rentals declared that its shareholders would receive a dividend of $1.63 per share on Feb 28, 2024. It has a dividend yield of 1.1%. Over the past five years, URI has increased its dividend once, and its payout ratio presently stays at 15% of earnings. Check URI’s dividend history here.
Heritage Financial operates as the bank holding company for Heritage Bank, which provides various financial services to small and medium sized businesses and individuals in the United States. HFWA accepts various deposit products, such as noninterest demand deposits, interest-bearing demand deposits, money-market accounts, savings accounts, personal checking accounts, and certificates of deposit.
HFWA’s loan portfolio includes commercial and industrial loans, owner-occupied and non-owner-occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, commercial business loans, lines of credit, term equipment financing, and term real estate loans, as well as commercial business loans to a range of businesses in industries. HFWA currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Jan 24, 2024, Heritage Financial declared that its shareholders would receive a dividend of $0.23 per share on Feb 22, 2024. It has a dividend yield of 4.6%. Over the past five years, HFWA has increased its dividend six times, and its payout ratio presently stays at 43% of earnings. Check HFWA’s dividend history here.
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https://www.zacks.com/stock/news/2217722/watch-these-5-stocks-that-have-hiked-dividend-recently
| 2024-01-30T22:50:38Z
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The fourth-quarter reporting cycle is underway, and investors can be lured by the profits of companies that have already released their quarterly figures. However, rather than adding the stock later to your portfolio, accumulating the ones poised to beat estimates can generate higher gains. This is because an earnings beat usually serves as a catalyst, raising investors’ confidence in the stock and resulting in price appreciation.
This is likely to be reflected in the earnings releases of American Tower Corporation (AMT - Free Report) , Welltower Inc. (WELL - Free Report) , VICI Properties Inc. (VICI - Free Report) and Kimco Realty Corporation (KIM - Free Report) .
Moreover, rather than fretting too much about the Fed’s impending decision on rates, focusing on REITs will be a smart move. This is because with the industry offering the real estate structure for several economic activities, be it real or virtual, there are pockets of strength, even in a challenging environment.
For example, the advancement in mobile technology, such as 4G and 5G, and the proliferation of bandwidth-intensive applications propel growth in mobile data usage globally. Moreover, the advent of next-generation technologies, including autonomous vehicle networks and the Internet of Things, along with the rampant usage of network-intensive applications for video conferencing and cloud services and hybrid-working scenarios, has rapidly increased wireless connectivity usage. Amid this, wireless service providers and carriers have been deploying additional equipment for existing networks to enhance network coverage and capacity. This is likely to have helped the tower REITs experience a favorable environment in the fourth quarter.
Similarly, an aging population and a rise in senior citizens’ healthcare expenditure are likely to aid the senior housing properties. The outpatient medical segment is also expected to benefit from favorable outpatient visit trends, in turn boosting the performance of the healthcare REITs dealing in such assets. Moreover, the rebound in demand for gaming facilities and other hospitality and entertainment destinations following the waning of pandemic concerns is likely to have aided the REITs’ performances, which are dealing with such assets in the quarter.
In the case of retail real estate, we note that per a report from CBRE Group (CBRE - Free Report) , the U.S. overall retail availability rate hit a record-low 4.7% at year-end, down 10 basis points (bps) quarter over quarter and 31 bps year over year. Among the categories, the neighborhood, community & strip center segment tightened the most. This property type continues to experience positive net absorption, with the fourth quarter net absorption of 12.5 million square feet, bringing the 2023 annual total to 40 million square feet.
There is a dearth of supply, and elevated construction costs and interest rates are likely to continue to keep new supply in check. Fourth-quarter and full-year construction completions of 5.3 million and 27 million square feet marked record lows. The average asking rent was up by 0.8% in the fourth quarter and 2.4% for the year to $23.76 per square foot, and both the growth rates were above their 10-year averages, per the CBRE report.
The Zacks Methodology
Picking the right stock could be difficult unless one knows the proper method. To make the task simple, we rely on the Zacks methodology, combining a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP.
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 the Zacks Rank and ESP, chances of a positive earnings surprise are as high as 70%.
Here are four REITs that have the right combination of elements to deliver positive surprises this season.
American Tower Corp currently carries a Zacks Rank of 3 and has an Earnings ESP of +1.05% for the quarter under review. Over the trailing four quarters, the company surpassed the Zacks Consensus Estimate on each occasion, the average beat being 6.42%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
American Tower is poised to benefit from its extensive and geographically diversified communication real estate portfolio. The high capital spending by wireless carriers amid growing wireless penetration, accelerated 5G network deployment efforts and spectrum auctions are likely to have kept demand up, poising it well to grow. Long-term leases with its tenants assure stable cash flows. Along with a decent financial position, AMT’s continued efforts toward macro-tower investments to expand its global footprint and address the demand in these markets bode well.
American Tower is scheduled to release earnings on Feb 27 before market open.
The Zacks Consensus Estimate of $2.73 billion for quarterly revenues suggests a 1.03% increase year over year. The consensus estimate for the quarterly funds from operations (FFO) per share is pegged at $2.18.
Welltower carries a Zacks Rank of 3 and has an Earnings ESP of +0.80% for the to-be-reported quarter at present. Over the trailing four quarters, this healthcare REIT surpassed the Zacks Consensus Estimate on each occasion, the average surprise being 3.23%. You can see the complete list of today’s Zacks #1 Rank stocks here.
According to its latest business update, Welltower expects its 2023 normalized FFO at the high end of its previously issued guidance range of $3.59-$3.63 per share. The Zacks Consensus Estimate for the same is currently pegged at $3.61.
With respect to its Seniors Housing Operating portfolio, the company expects to achieve full-year 2023 same-store year-over-year revenue growth in line with the prior issued guidance of 9.8%. Welltower attributed its asset management initiatives and additional improvement in demand/supply conditions to lead to favorable trends across all geographies.
While giving its update, WELL noted that the year-over-year occupancy growth in the fourth quarter of 2023 “meaningfully outperformed historical seasonality” and marked the strongest quarterly growth of the year. Welltower also noted that its same-store expenses per occupied room growth continued to decelerate in the fourth quarter as labor market conditions continued to normalize, while broader inflationary pressures continued to subside. Consequently, WELL expects its year-over-year same-store net operating income growth to come in at around the midpoint of its prior issued guidance of 23-26%.
Welltower is set to release earnings results on Feb 13 after market close.
Currently, the Zacks Consensus Estimate for the company’s quarterly revenues stands at $1.71 billion, indicating a 12.58% increase year over year. The Zacks Consensus Estimate for the quarterly normalized FFO per share of 94 cents suggests year-over-year growth of 13.25%.
VICI Properties Inc. holds a Zacks Rank #2 and has an Earnings ESP of +2.16% at present. Over the trailing four quarters, VICI surpassed estimates on each occasion, the average surprise being 1.93%.
VICI Properties owns a geographically diverse portfolio, which includes a mix of gaming, hotel and entertainment assets that are located in the high barriers-to-entry markets across the United States and Canada. It enjoys ownership of three of the most iconic entertainment facilities on the Las Vegas Strip, namely Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas.
VICI’s healthy relationships with the highest quality experiential operators are likely to have paid off well. The long-term triple-net leases with such tenants that are embedded with CPI-based rent escalators are likely to have aided stable revenue generation during the quarter, boosting its top-line growth. Further, the company’s robust balance sheet position is likely to have supported its growth endeavors.
VICI Properties is scheduled to report its quarterly figures on Feb 22 after market close.
The Zacks Consensus Estimate for quarterly revenues stands at $926.32 million, calling for a 20.32% year-over-year increase. The consensus mark for the fourth-quarter FFO per share of 55 cents implies 7.84% year-over-year growth.
Kimco Realty Corporation currently carries a Zacks Rank of 2 and has an Earnings ESP of +2.56% for the quarter under review. Over the trailing four quarters, the company surpassed the Zacks Consensus Estimate on one occasion, met in two and missed in the other period.
In the fourth quarter, Kimco Realty is expected to have benefited from its portfolio of premium shopping centers, which are predominantly grocery-anchored and are in the drivable first-ring suburbs of its top major metropolitan Sunbelt and coastal markets, having several growth levers. A diversified tenant base assures stable cash flows. A solid balance sheet is likely to have supported its growth endeavors.
Kimco Realty is scheduled to announce fourth-quarter figures on Feb 8 before market open.
The Zacks Consensus Estimate of $448.77 million for quarterly revenues suggests a 2.03% increase year over year. The consensus estimate for the quarterly FFO per share is currently pegged at 39 cents, calling for a 2.63% increase year over year.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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https://www.zacks.com/stock/news/2217732/4-reits-likely-to-emerge-victorious-this-earnings-season
| 2024-01-30T22:51:09Z
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Investors are always looking for stocks that are poised to beat at earnings season and GSK plc (GSK - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because GSK is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for GSK in this report.
In fact, the Most Accurate Estimate for the current quarter is currently higher than the broader Zacks Consensus Estimate of 80 cents per share. This suggests that analysts have very recently bumped up their estimates for GSK, giving the stock a Zacks Earnings ESP of +0.63% heading into earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that GSK has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for GSK, and that a beat might be in the cards for the upcoming report.
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https://www.zacks.com/stock/news/2217733/is-a-surprise-coming-for-gsk-this-earnings-season?
| 2024-01-30T22:51:15Z
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After a tough start to the year, the S&P 500 topped the 4,900 milestone for the first time in the latest trading session. This week is packed with more than 100 corporate earnings, a Federal Reserve policy meeting and the job report data that may dictate the next moves for the market’s rally.
Key Earnings Releases
Five of the "Magnificent Seven" tech companies are set to report earnings, with Microsoft (MSFT - Free Report) and Alphabet (GOOGL - Free Report) , (GOOG - Free Report) leading the pack on Jan 30. Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) and Meta Platforms META will report on Feb 1. Outside the tech sector, General Motors (GM - Free Report) and United Parcel (UPS - Free Report) are among the well-known companies set to release results before the bell on Jan 30, while Starbucks (SBUX - Free Report) will report after market close.
Microsoft
Microsoft has an Earnings ESP of 0.00% and a Zacks Rank #2 (Buy). According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Microsoft saw a positive earnings estimate revision of a penny over the past 30 days for the to-be-reported quarter. Analysts increasing estimates right before earnings — with the most up-to-date information possible — is a good indicator for a stock. The Zacks Consensus Estimate indicates earnings growth of 18.9% and modest revenue growth of 15.7% from the year-ago quarter. Microsoft’s earnings track record is impressive, with the four-quarter earnings surprise being 7.83%, on average. Microsoft has gained 14.5% over the past three months and has a solid Growth Score of A (read: Microsoft Tops Apple Ahead of Q4 Earnings: 5 ETFs to Invest).
Select Sector SPDR Technology ETF (XLK - Free Report) and MSCI Information Technology Index ETF FTEC have the largest exposure of more than 20% each in Microsoft.
Alphabet
Alphabet has an Earnings ESP of +2.26% and a Zacks Rank #3. It saw a positive earnings estimate revision of a penny over the past 30 days for the to-be-reported quarter. The company’s earnings surprise track record over the past four quarters is good, with the average being 4.62%. Earnings are expected to increase 52.4%, while revenues are expected to grow 12% from the year-ago quarter. Alphabet has a Growth Score of A and has risen 18% in the past three months.
Communication Services Select Sector SPDR Fund XLC and iShares Global Comm Services ETF IXP have 12.6% exposure in Alphabet.
Meta Platforms
Meta Platforms has an Earnings ESP of +0.51% and Zacks Rank #2. The social media giant saw a positive earnings estimate revision of 4 cents for the to-be-reported quarter over the past 30 days. The current Zacks Consensus Estimate for the yet-to-be-reported quarter indicates year-over-year earnings growth of 61.3% and revenue growth of 21%. Meta Platforms delivered an earnings surprise of 27.50%, on average, in the last four quarters. The stock has a solid Growth Score of A and has surged about 25% over the past three months.
Amazon
Amazon has an Earnings ESP of -0.04% and a Zacks Rank #2. The stock saw a positive earnings estimate revision of a couple of cents over the past 30 days for the fourth quarter. The Zacks Consensus Estimate indicates a whopping year-over-year earnings increase of 285.7% and substantial revenue growth of 11.4% for the to-be-reported quarter. Additionally, Amazon’s earnings surprise history is impressive, with the four-quarter average surprise being 54.87%. The stock has a solid Growth Score of A and has returned 15% in the past three months.
Communication Services Select Sector SPDR Fund XLC and Fidelity MSCI Communication Services Index ETF FCOM have at least 23% exposure each in Amazon.
Apple
Apple has an Earnings ESP of +1.96% and a Zacks Rank #3. Apple saw a positive earnings estimate revision of a penny over the past 30 days for the fiscal fourth quarter. The iPhone maker has a strong track record of positive earnings surprises. It delivered an average earnings surprise of 3.47% in the trailing four quarters. The Zacks Consensus Estimate indicates a modest year-over-year increase of 11.2% for earnings and 0.4% for revenues. Apple is up 9% over the past three months.
Vanguard Information Technology ETF VGT and Select Sector SPDR Technology ETF (XLK - Free Report) have the largest exposure of at least 21% each in Apple (read: Tech Leads S&P 500 to Highs: Does Further Rally Await ETFs?).
General Motors
General Motors has an Earnings ESP of +1.78% and Zacks Rank #2. It saw a positive earnings estimate revision of 7 cents over the past 30 days for the to-be-reported quarter. The company’s earnings surprise track record over the past four quarters is good, with the average being 23.82%, on average. Earnings and revenues are expected to decline 49% and 5.4%, respectively, from the year-ago quarter. General Motors has a solid Momentum Score of A and has climbed 18% in the past three months.
First Trust Nasdaq Transportation ETF FTXR has the largest exposure of 8.2% in General Motors (read: 5 Top-Ranked Beaten-Down ETFs to Rebound in 2024).
United Parcel Service
United Parcel has an Earnings ESP of +1.69% and a Zacks Rank #3. The courier company saw a negative earnings estimate revision of a penny for the to-be-reported quarter over the past 30 days. The current Zacks Consensus Estimate for the yet-to-be-reported quarter indicates a year-over-year earnings decline of 32.6% and a revenue decline of 6.4%. United Parcel delivered an earnings surprise of 27.50%, on average, in the last four quarters. The stock has a solid Momentum Score of A and has gained about 11% over the past three months.
iShares US Transportation ETF (IYT - Free Report) has a substantial 11.2% exposure in UPS.
Fed Meet
Fed Chair Jerome Powell is expected to hold rates steady in the range of 5.25% to 5.5%. According to the CME FedWatch tool, the fed funds futures market has priced in an approximately 97% probability that the central bank will leave rates unchanged during its Wednesday announcement and there’s a 48% probability of a rate cut at the next meeting in March. If the Fed signals a possible rate cut in March, the U.S. dollar will likely weaken against all major currencies. As such, Invesco DB US Dollar Index Bullish Fund (UUP - Free Report) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU - Free Report) might experience some declines. These two ETFs are the prime beneficiaries of the rising dollar.
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Starbucks Corporation (SBUX) - free report >>
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General Motors Company (GM) - free report >>
Technology Select Sector SPDR ETF (XLK) - free report >>
Invesco DB US Dollar Index Bullish ETF (UUP) - free report >>
iShares U.S. Transportation ETF (IYT) - free report >>
Alphabet Inc. (GOOGL) - free report >>
WisdomTree Bloomberg U.S. Dollar Bullish ETF (USDU) - free report >>
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https://www.zacks.com/stock/news/2217734/etfs-to-watch-this-earnings-packed-week
| 2024-01-30T22:51:22Z
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On Jan 19, 2024,Schlumberger (SLB - Free Report) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.84 per share, before the market opened. This compares to earnings of $0.71 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2.38%. A quarter ago, it was expected that this world's largest oilfield services company would post earnings of $0.77 per share when it actually produced earnings of $0.78, delivering a surprise of 1.30%. Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Schlumberger, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $8.99 billion for the quarter ended December 2023, surpassing the Zacks Consensus Estimate by 0.09%. This compares to year-ago revenues of $7.88 billion. The company has topped consensus revenue estimates two times over the last four quarters. Shares surged 2.2% on Jan 19, 2024, reflecting earnings strength.
On Jan 23, 2024, Halliburton Company (HAL - Free Report) reported fourth-quarter 2023 adjusted net income per share of 86 cents, surpassing the Zacks Consensus Estimate of 80 cents and well above the year-ago quarter profit of 72 cents (adjusted). The outperformance reflects strength in the international markets, partly offset by weak performance in the North American region.
Meanwhile, revenues of $5.7 billion were 2.8% higher than the corresponding period of 2022 but came below the Zacks Consensus Estimate (by some $47 million). In good news for investors, Halliburton raised its quarterly dividend by 6.3% to 17 cents per share (or 68 cents per share annualized).
Halliburton — the world’s biggest provider of hydraulic fracking — noted that 2023 turned out to be a great year, with both its segments recording their highest operating margins in over a decade. Looking ahead, the company sees strong demand for oilfield services this year. HAL, which generated an impressive $2.3 billion of free cash flow in 2023, sees the momentum continuing in 2024 as well. Regarding debt retirement, this yea, Halliburton repaid some $300 million to further improve its balance sheet strength.
ETFs in Focus
Investors might want to know the impact of earnings results on ETFs that are heavily invested in these popular oil service companies. Below we highlight three oil-services ETFs with considerable allocation to SLB and HAL that could be in focus:
VanEck Vectors Oil Services ETF (OIH - Free Report)
OIH invests $2.09 billion of assets in about 25 holdings and devotes as much as 20.32% of the portfolio weight to SLB, followed by 11.00% in HAL. Generally, when one stock accounts for as much as 20% of an ETF's weight, its individual performance decides much of the fund’s price movement. OIH gained 6.2% in the past five days (as of Jan 26, 2024).
iShares US Oil Equipment & Services ETF (IEZ - Free Report)
This ETF invests about $318.3 million of assets in about 15 securities, focusing solely on the energy world. The in-focus SLB takes up the first position here with 22.88% of holdings. HAL takes up the fifth position with about 4.6% of total assets. The fund added 5.7% in the past five days.
Energy Select Sector SPDR Fund (XLE - Free Report)
XLE invests about $34.93 billion of assets in 26 stocks. The fund puts 4.19% of the portfolio weight in SLB. It added about 5.3% in the past five days.
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https://www.zacks.com/stock/news/2217740/q4-earnings-put-oil-services-etfs-in-focus
| 2024-01-30T22:51:30Z
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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.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Hunting for 'earnings whispers' or companies poised to beat their quarterly earnings estimates is a somewhat common practice. But that doesn't make it easy. One way that has been proven to work is by using the Zacks Earnings ESP tool.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
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 Stanley Black & Decker?
The final step today is to look at a stock that meets our ESP qualifications. Stanley Black & Decker (SWK - Free Report) earns a #3 (Hold) two days from its next quarterly earnings release on February 1, 2024, and its Most Accurate Estimate comes in at $0.80 a share.
Stanley Black & Decker's Earnings ESP sits at +10.35%, which, as explained above, is calculated by taking the percentage difference between the $0.80 Most Accurate Estimate and the Zacks Consensus Estimate of $0.73. SWK 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.
SWK is just one of a large group of Industrial Products stocks with a positive ESP figure. Terex (TEX - Free Report) is another qualifying stock you may want to consider.
Terex is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on February 8, 2024. TEX's Most Accurate Estimate sits at $1.42 a share nine days from its next earnings release.
Terex's Earnings ESP figure currently stands at +1.25% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.41.
SWK and TEX'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/2217751/why-investors-need-to-take-advantage-of-these-2-industrial-products-stocks-now
| 2024-01-30T22:52:04Z
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Whether you're a growth, value, income, or momentum-focused investor, building a successful investment portfolio takes skill, research, and a little bit of luck.
How do you find the right combination of stocks that will generate returns that could fund your retirement, or your kids' college tuition, or your short- and long-term savings goals?
Enter the Zacks Rank.
What is the Zacks Rank?
The Zacks Rank is a unique, proprietary stock-rating model that utilizes earnings estimate revisions to help investors build a winning portfolio.
There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise.
Agreement is the extent to which all brokerage analysts are revising their earnings estimates in the same direction. The greater the percentage of analysts revising their estimates higher, the better chance the stock will outperform.
Magnitude is the size of the recent change in the consensus estimate for the current and next fiscal years.
Upside is the difference between the most accurate estimate, which is calculated by Zacks, and the consensus estimate.
Surprise is made up of a company's last few quarters' earnings per share surprises; companies with a positive earnings surprise are more likely to beat expectations in the future.
Each one of these factors is given a raw score that's recalculated every night, and then compiled into the Zacks Rank. Using this data, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell."
The Power of Institutional Investors
The Zacks Rank also allows individual investors, or retail investors, to benefit from the power of institutional investors.
Institutional investors are responsible for managing the trillions of dollars invested in mutual funds, hedge funds, and investment banks. Research has shown that these investors can and do move the market due to the large amount of money they deal with, and thus, the market tends to move in the same direction as them.
In order to determine the fair value of a company and its shares, institutional investors design valuation models that focus on earnings and earnings estimates. Because if you raise earnings estimates, it then creates a higher fair value for a company and its stock price.
With these changes, institutional investors will act, usually buying stocks with rising estimates and selling those with falling estimates. An increase in earnings expectations can potentially lead to higher stock prices and bigger gains for the investor.
Because it can take a long time for an institutional investor to build a position -- sometimes weeks, if not months -- retail investors who get in at the first sign of upward revisions have a distinct advantage over these larger investors, and can benefit from the expected institutional buying that will follow.
Not only can the Zacks Rank help you take advantage of trends in earnings estimate revisions, but it can also provide a way to get into stocks that are highly sought after by professionals.
How to Invest with the Zacks Rank
The Zacks Rank is known for transforming investment portfolios. In fact, a portfolio of Zacks Rank #1 (Strong Buy) stocks has beaten the market in 26 of the last 32 years, with an average annual return of +25.41%.
Moreover, stocks with a new #1 (Strong Buy) ranking have some of the biggest profit potential, while those that fell to a #4 (Sell) or #5 (Strong Sell) have some of the worst.
Let's take a look at CrowdStrike Holdings (CRWD - Free Report) , which was added to the Zacks Rank #1 list on January 30, 2024.
Founded in 2011, Sunnyvale, CA-based CrowdStrike is a leader in next-generation endpoint protection, threat intelligence and cyberattack response services.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.02 to $2.95 per share. CRWD boasts an average earnings surprise of 16.6%.
Analysts are expecting earnings to grow 91.6% for the current fiscal year, with revenue forecasted to rise 36.1%.
Additionally, CRWD has climbed higher over the past four weeks, gaining 17.8%. The S&P 500 is up 3.4% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, CrowdStrike Holdings should be on investors' shortlist.
If you want even more information on the Zacks Ranks, or one of our many other investing strategies, check out the Zacks Education home page.
Discover Today's Top Stocks
Our private Zacks #1 Rank List, based on our quantitative Zacks Rank stock-rating system, has more than doubled the S&P 500 since 1988. Applying the Zacks Rank in your own trading can boost your investing returns on your very next trade. See Today's Zacks #1 Rank List >>
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https://www.zacks.com/stock/news/2217791/how-to-find-strong-buy-computer-and-technology-stocks-using-the-zacks-rank
| 2024-01-30T22:54:54Z
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Believe it or not, seniors fear running out of cash more than they fear dying.
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.
In today's economic environment, traditional income investments are not working.
For many years, bonds or other fixed-income assets could produce the yield needed to provide solid income for retirement needs. However, these yields have dwindled over time: 10-year Treasury bond rates in the late 1990s were around 6.50%, but today, that rate is a thing of the past, with a slim likelihood of rates making a comeback in the foreseeable future.
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.
Today's retirees are getting hit hard by reduced bond yields - and the Social Security picture isn't too rosy either. Right now and for the near future, Social Security benefits are still being paid, but it has been estimated that the Social Security funds will be depleted as soon as 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.
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.
Heartland Financial (HTLF - Free Report) is currently shelling out a dividend of $0.3 per share, with a dividend yield of 3.13%. This compares to the Banks - Midwest industry's yield of 3.05% and the S&P 500's yield of 1.6%. The company's annualized dividend growth in the past year was 7.14%. Check Heartland Financial (HTLF - Free Report) dividend history here>>>
Smucker (SJM - Free Report) is paying out a dividend of $1.06 per share at the moment, with a dividend yield of 3.22% compared to the Food - Miscellaneous industry's yield of 0% and the S&P 500's yield. The annualized dividend growth of the company was 3.92% over the past year. Check Smucker (SJM - Free Report) dividend history here>>>
Currently paying a dividend of $1.1 per share, Target (TGT - Free Report) has a dividend yield of 3.11%. This is compared to the Retail - Discount Stores industry's yield of 0.59% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 1.85%. Check Target (TGT - 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 advantage of owning dividend stocks for your retirement nest egg is that numerous companies, particularly blue chip stocks, raise their dividends over time, helping alleviate the impact of inflation on your potential retirement income.
Thinking about dividend-focused mutual funds or ETFs? Watch out for fees.
You may be thinking, "I like this dividend strategy, but instead of investing in individual stocks, I'm going to find a dividend-focused mutual fund or ETF." This approach can make sense, but be aware that some mutual funds and specialized ETFs carry high fees, which may reduce your dividend gains or income, and defeat the goal of this dividend investment approach. If you do wish to invest in a fund, do your research to find the best-quality dividend funds with the lowest fees.
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/2217798/improve-your-retirement-income-with-these-3-top-ranked-dividend-stocks
| 2024-01-30T22:55:12Z
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Here's a revealing data point: older Americans are scared more of outliving wealth than of death itself.
And retirees have good reason to be worried about making their assets last. People are living longer, so that money has to cover a longer period. Making matters worse, income generated using tried-and-true retirement planning approaches may not cover expenses these days. That means seniors must dip into principal to meet living expenses.
The tried-and-true retirement investing approach of yesterday doesn't work today.
In the past, investors going into retirement could invest in bonds and count on attractive yields to produce steady, reliable income streams to fund a predictable retirement. 10-year Treasury bond rates in the late 1990s hovered around 6.50%, whereas the current rate is much lower.
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.
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
As we see it, dividend-paying stocks from generally low-risk, top notch companies are a brilliant way to create steady and solid income streams to supplant low risk, low yielding Treasury and fixed-income alternatives.
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.
Atlantic Union (AUB - Free Report) is currently shelling out a dividend of $0.32 per share, with a dividend yield of 3.57%. This compares to the Banks - Northeast industry's yield of 2.72% and the S&P 500's yield of 1.6%. The company's annualized dividend growth in the past year was 6.67%. Check Atlantic Union (AUB - Free Report) dividend history here>>>
Peoples Financial Services (PFIS - Free Report) is paying out a dividend of $0.41 per share at the moment, with a dividend yield of 3.48% compared to the Banks - Northeast industry's yield of 2.72% and the S&P 500's yield. The annualized dividend growth of the company was 2.5% over the past year. Check Peoples Financial Services (PFIS - Free Report) dividend history here>>>
Currently paying a dividend of $0.26 per share, Tanger (SKT - Free Report) has a dividend yield of 3.73%. This is compared to the REIT and Equity Trust - Retail industry's yield of 4.22% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 18.18%. Check Tanger (SKT - Free Report) dividend history here>>>
But aren't stocks generally more risky than bonds?
It is true that stocks, as an asset class, carry more risk than bonds, but high-quality dividend stocks not only have the ability to produce income growth over time but more importantly, can also reduce your overall portfolio volatility relative 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
Seeking steady, consistent income through dividends can be a smart option for financial security in retirement, whether you invest in mutual funds, ETFs, or in dividend-paying stocks.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Tanger Inc. (SKT) - free report >>
Peoples Financial Services Corp. (PFIS) - free report >>
Atlantic Union Bankshares Corporation (AUB) - free report >>
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https://www.zacks.com/stock/news/2217799/improve-your-retirement-income-with-these-3-top-ranked-dividend-stocks
| 2024-01-30T22:55:18Z
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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.
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.
It also includes access to 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
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most 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 trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
If you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank
A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
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: RenaissanceRe (RNR - Free Report)
Founded in 1993 and based in Pembroke, Bermuda, RenaissanceRe Holdings Ltd. primarily provides property-catastrophe reinsurance to insurers and reinsurers globally on the basis of excess of loss (coverage of losses over a specified limit). Additionally, RenaissanceRe provides certain specialty reinsurance coverage on accident, health, aviation and satellite concerns, as well as homeowners' insurance in various parts of the U.S. The company also writes specialty and catastrophe reinsurance through two joint ventures, Top Layer Re and Reinsurance, and through certain specialty reinsurance and primary insurance lines.
RNR is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. RNR has a Growth Style Score of B, forecasting year-over-year earnings growth of 358.2% for the current fiscal year.
Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $2.39 to $33.45 per share. RNR boasts an average earnings surprise of 16.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, RNR should be on investors' short list.
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https://www.zacks.com/stock/news/2217897/why-this-1-growth-stock-could-be-a-great-addition-to-your-portfolio
| 2024-01-30T23:02:52Z
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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.
The research service features 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, all of which will help you become a smarter, more confident investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that 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
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
While good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
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.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, 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.
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.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Automatic Data Processing (ADP - Free Report)
Automatic Data Processing, Inc. is one of the leading providers of cloud-based Human Capital Management (HCM) technology solutions - including payroll, talent management, Human Resources and benefits administration, and time and attendance management - to employers around the world. The company delivers it’s global HCM strategy and make investments in highly strategic areas and technology in order to strengthen its underlying business model and prospects for continued growth.
ADP is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Business Services stock. ADP has a Momentum Style Score of A, and shares are up 2% over the past four weeks.
One analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0 to $9.14 per share. ADP also boasts an average earnings surprise of 2.6%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, ADP should be on investors' short list.
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https://www.zacks.com/stock/news/2217950/why-this-1-momentum-stock-could-be-a-great-addition-to-your-portfolio
| 2024-01-30T23:08:08Z
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Overall, ETFs pulled in $15 billion in capital last week, taking year-to-date inflows to $588.6 billion. U.S. equity ETFs led the way higher with $11.6 billion in inflows, followed by international equity ETFs ($2 billion) and international fixed-income ETFs ($1.5 billion), per etf.com.
Invesco QQQ Trust (QQQ - Free Report) , iShares S&P 500 Value ETF (IVE - Free Report) , Vanguard S&P 500 ETF (VOO - Free Report) , BlackRock U.S. Equity Factor Rotation ETF (DYNF - Free Report) and iShares Core S&P 500 ETF (IVV - Free Report) dominated the top creation list last week.
Wall Street logged gains last week, with the S&P 500 and technology-heavy Nasdaq Composite Index rising 1.1% and 0.9%, respectively, and the Dow Jones Index gaining 0.7%. The latest data on moderating inflation and a strong economy has led to risk-on trade.
The personal consumption expenditure index — the Federal Reserve's preferred inflation gauge — rose 2.6% in December. This marks the third time that inflation is below 3%. Meanwhile, the economy grew at a much more rapid pace than expected, with GDP rising at a 3.3% annualized rate in the fourth quarter of 2023, up from the Wall Street consensus estimate growth rate of 2% (read: U.S. GDP Growth Beats Expectations in Q4: ETFs to Benefit).
We have detailed the ETFs below:
Invesco QQQ Trust (QQQ - Free Report)
Invesco QQQ Trust is the top asset creator, pulling in $3.4 billion in capital. It provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Invesco QQQ is heavily concentrated on the top two firms with a double-digit allocation, while other firms hold no more than 5% of the assets.
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $246.1 billion and an average daily volume of 40 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
iShares S&P 500 Value ETF (IVE - Free Report)
iShares S&P 500 Value ETF gathered $2.9 billion in capital last week, propelling its asset base to $30.2 billion. It offers exposure to large U.S. companies that are potentially undervalued relative to comparable companies. iShares S&P 500 Value ETF follows the S&P 500 Value Index, holding 444 stocks in its basket. It is widely spread across components, with none accounting for less than 3.7% of assets.
iShares S&P 500 Value ETF trades in a volume of 896,000 shares per day on average and charges 18 bps in annual fees. It has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (read: 5 ETF Tactics for Your Portfolio in 2024).
Vanguard S&P 500 ETF (VOO - Free Report)
Vanguard S&P 500 ETF has accumulated $2.3 billion in capital. It tracks the S&P 500 Index and holds 505 stocks in its basket, each accounting for no more than 7% of the assets. Vanguard S&P 500 ETF is heavy on the information technology sector, while consumer discretionary, industrials and healthcare round off its next three spots with a double-digit allocation.
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.5 million shares. It has an AUM of $388.8 billion and a Zacks ETF Rank #2 with a Medium risk outlook.
BlackRock U.S. Equity Factor Rotation ETF (DYNF - Free Report)
BlackRock U.S. Equity Factor Rotation ETF has accumulated $1.9 billion in its asset base. It is an actively managed ETF that seeks to outperform the investment results of the large- and mid-capitalization U.S. equity markets by providing diversified and tactical exposure to style factors via a factor rotation model. BlackRock U.S. Equity Factor Rotation ETF holds 71 stocks in its basket, with each accounting for less than 9% share each. It is heavy on the information technology sector, while consumer discretionary and financials round off the next two spots with a double-digit allocation.
BlackRock U.S. Equity Factor Rotation ETF has AUM of $1.9 billion and charges 30 bps in annual fees. It trades in a volume of 600,000 shares a day on average.
iShares Core S&P 500 ETF (IVV - Free Report)
iShares Core S&P 500 ETF has gathered $1.7 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.3% of the assets. iShares Core S&P 500 ETF is heavy on the information technology sector, while financials, healthcare and consumer discretionary round off its next three spots with a double-digit allocation each (read: ETFs in Focus as S&P 500 Confirms Bull Market: How Long Will It Last?).
iShares Core S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.5 million shares. It has an AUM of $420 billion and a Zacks ETF Rank #2 with a Medium risk outlook.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Invesco QQQ (QQQ) - free report >>
Vanguard S&P 500 ETF (VOO) - free report >>
iShares Core S&P 500 ETF (IVV) - free report >>
iShares S&P 500 Value ETF (IVE) - free report >>
BlackRock U.S. Equity Factor Rotation ETF (DYNF) - free report >>
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https://www.zacks.com/stock/news/2218068/5-hot-etfs-of-last-week
| 2024-01-30T23:17:50Z
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"Thanks for checking out our launch- Your feedback is incredibly important to us as we continue to refine ColdScribe and make it even more valuable for you. So, please don't hesitate to share your thoughts in the comments below. Let's build a stronger ColdScribe together!"
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https://www.producthunt.com/posts/coldscribe
| 2024-01-30T23:21:08Z
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Scope
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Scope
The only truly collaborative project management platform
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Real-time workspace where your projects, documents and chats live together. The fusion of project management tools, contextual chats, and robust document management enables you to seamlessly collaborate with team members, customers and partners
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https://www.producthunt.com/posts/scope-8
| 2024-01-30T23:21:15Z
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Earnings season steps it up a notch this week as over 400 companies are expected to report earnings. Many of them are large cap growth stocks, including several Magnificent 7 stocks like Microsoft, Alphabet, Apple, Amazon and Meta Platforms.
But the Mag 7 aren’t the only stocks hitting new highs. Even among these five stocks featured here, two are hitting new highs which aren’t in the Mag 7. One is a mid-cap which is little known unless you’re in the Zacks Value Investor portfolio which owns it.
Great Earnings Surprise Records
Let’s not forget that many of these growth stocks also have outstanding earnings surprise track records. Two of the companies have only missed once in the last 5 years. That’s impressive given that there was a pandemic during that time.
It’s difficult for any company to beat every quarter, or nearly every quarter, over the course of 5 years. Pandemic or not.
Can they beat again?
5 Growth Stocks to Watch This Week
1. Microsoft Corp. (MSFT - Free Report)
Microsoft has only missed one time in the last 5 years and it was in 2022. The analysts are on the sidelines. There’s been no changes to the earnings estimates going into the earnings report.
Shares of Microsoft are up 65% over the last year and it’s hitting new all-time highs. But Microsoft isn’t cheap. It trades with a P/S ratio of 13.8. The last time it was over 10, was at the end of the dot-com boom.
Are valuations stretched on Microsoft?
2. Alphabet Inc. (GOOGL - Free Report)
Alphabet has a so-so earnings record. While it’s beat 3 quarters in a row, it had missed 4 quarters in a row prior to that.
Shares of Alphabet are up 53.1% in the last year and are hitting new all-time highs. Alphabet is cheaper than Microsoft, with a P/S ratio of just 6.4.
Does Alphabet have attractive valuations?
3. Starbucks Corp. (SBUX - Free Report)
Starbucks has beat 3 quarters in a row but it hasn’t helped the shares, which are actually down 14.9% over the last year.
Is Starbucks cheap? It trades with a P/S ratio of just 2.9 and a forward P/E of 22.6. For a growth stock, that’s attractively valued.
Is this a buying opportunity in Starbucks?
4. Mastercard Inc. (MA - Free Report)
Mastercard has a great earnings surprise track record. It has only missed once in the last 5 years and it was back in 2020.
Shares of Mastercard are up 17.2% over the last year and are busting out to new highs. Mastercard trades with a P/S ratio of 16.8, which is high. It also has a forward P/E of 31.
Should you be concerned about valuations with Mastercard?
5. Modine Manufacturing Co. (MOD - Free Report)
Modine Manufacturing is the unknown company among these 5, with a market cap of just $3.4 billion, but it’s chart is just as red hot. Modine has a great earnings surprise track record, beating 8 quarters in a row.
Shares of Modine Manufacturing are up 178.6% over the last year. It trades with a P/S ratio of just 1.36. That would put it in the value category.
Is Modine Manufacturing a steal even at all-time highs?
[In full disclosure, Tracey owns shares of MSFT, GOOGL and SBUX in her own personal portfolio and MOD in the Zacks Value Investor portfolio.]
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Microsoft Corporation (MSFT) - free report >>
Mastercard Incorporated (MA) - free report >>
Starbucks Corporation (SBUX) - free report >>
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https://www.zacks.com/stock/news/2218196/how-expensive-are-the-growth-stocks?
| 2024-01-30T23:23:52Z
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Wall Street was upbeat last week. The S&P 500 managed to secure a weekly win after setting a new record on Thursday. The S&P 500 added 1.1% last week, the Dow Jones inched up 0.7% and the Nasdaq Composite added about 0.9%. This suggests resilience in the market, although uncertainties loom.
The tech-heavy Nasdaq Composite experienced a decline of nearly 0.4% on Friday, largely driven by Intel's disappointing first-quarter outlook. This setback has tempered some of the optimism generated by AI-related stocks that have been instrumental in pushing the market to record highs. Intel's shares took a huge hit, with its peers AMD and Nvidia also feeling the impact.
Inflation Gauge Indicates Moderation
The release of the PCE (Personal Consumption Expenditures) index for December provided further evidence of moderating inflation. The "Core" PCE, the Federal Reserve's preferred inflation measure, dropped below 3% on an annual basis, marking the slowest growth rate since March 2021.
This data, coupled with a stronger-than-expected initial estimate of fourth-quarter U.S. GDP, suggests the possibility of a "soft landing" for the US economy. The U.S. economy exhibited a robust performance in the fourth quarter of 2023, with the real Gross Domestic Product (GDP) expanding at an annualized rate of 3.3%. This growth exceeded market expectations of 2% and followed a 4.9% increase in the third quarter (read: U.S. GDP Growth Beats Expectations in Q4: ETFs to Benefit).
Earnings Reports Offer Insights
Investors also closely examined the latest batch of earnings reports. Colgate-Palmolive (CL - Free Report) stood out with robust fourth-quarter results attributed to its Latin American consumer markets. In contrast, Visa (V - Free Report) delivered a cautious revenue growth forecast, raising concerns about a slowdown in U.S. payments volume growth, which could signal an impending economic downturn.
Meanwhile, Netflix (NFLX - Free Report) logged its best weekly performance in more than a year due to a better-than-expected earnings report. Tesla (TSLA - Free Report) , the electric vehicle (EV) manufacturer, released its Q4 earnings report on Jan 24, after the market closed, which missed estimates and led to a decline in its stock price. The company also provided a pessimistic outlook for full-year production in 2024.
ETFs in Focus
Against this backdrop, below we highlight a few winning ETFs of last week.
Valkyrie Bitcoin Miners ETF (WGMI - Free Report) ) – Up 10.2%
The Valkyrie Bitcoin Miners ETF is an actively-managed exchange-traded fund that will invest at least 80% of its net assets in securities of companies that derive at least 50% of their revenue or profits from bitcoin mining operations and from providing specialized chips, hardware and software or other services to companies engaged in bitcoin mining.
Roundhill Cannabis ETF (WEED - Free Report) ) – Up 9.2%
The Roundhill Cannabis ETF is designed to offer investors exposure to the cannabis sector. Cannabis stocks and ETFs have surged over the past few months since the Department of Health and Human Services asked the DEA to review its classification of cannabis. Earlier this month, a group of 12 state attorneys general sent a letter to the DEA supporting the reclassification (read: Cannabis ETFs: What's Behind the Latest Surge).
SPDR S&P Oil & Gas Equipment & Services ETF (XES - Free Report) ) – Up 7.1%
The SPDR S&P Oil & Gas Equipment & Services ETF seeks to replicate as closely as possible, before expenses, the total return performance of the S&P Oil & Gas Equipment & Services Select Industry Index. U.S. crude oil topped $78 in best week since September on upbeat U.S. growth and China stimulus.
Global X MSCI China Real Estate ETF (CHIR - Free Report) – Up 6.5%
The Global X MSCI China Real Estate ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI China Real Estate 10/50 Index.
The People’s Bank of China surprised investors on Wednesday by revealing a bigger-than-expected RRR cut weeks in advance, providing markets with a much-needed boost. China’s central bank also revealed broad plans to guide money into sectors of national importance to boost the faltering economy this year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Visa Inc. (V) - free report >>
Netflix, Inc. (NFLX) - free report >>
Colgate-Palmolive Company (CL) - free report >>
Tesla, Inc. (TSLA) - free report >>
SPDR S&P Oil & Gas Equipment & Services ETF (XES) - free report >>
Global X MSCI China Real Estate ETF (CHIR) - free report >>
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https://www.zacks.com/stock/news/2218208/4-best-performing-etf-areas-of-last-week
| 2024-01-30T23:23:58Z
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The S&P 500 may be hovering around all-time highs, but uncertainties still prevail in the market. May be this why, quality stocks are dominating the market, up 25% in the past year, per an article published on CNBC. Although the U.S. economy seems to be on decent footing along with falling inflation, global economy is yet to recover.
This puts focus on quality ETF investing. In the midst of these conflicting market signals, quality investing presents itself as a strategic approach to weathering market turbulence. Quality investing focuses on identifying companies with strong fundamentals, stable earnings, and durable competitive advantages. By investing in high-quality companies, investors can potentially mitigate the risks associated with economic downturns and market fluctuations.
Below we highlight a few reasons that can hinder economic growth, cause market fluctuations and boost quality investing.
Geopolitical Concerns
“The geopolitical factor with China is certainly on everyone’s mind,” said Franklin Templeton Investments’ David Mann, the firm’s global head of product and capital markets. “China was down last year. It is down again this year. Investors are probably looking a lot at the political side,” as quoted on CNBC.
Tensions in the Red Sea and the Baltic Sea pose risks to oil supplies. Houthi militants in Yemen continue to target shipping in the Red Sea, affecting global supply chains. Additionally, a suspected Ukrainian drone attack on a Russian fuel terminal highlights the ongoing geopolitical threats to fuel supplies. An increase in oil prices can contribute to global inflation, potentially hindering economic growth.
Interest Rate Environment
The interest rate environment can significantly impact different types of stocks. Moreover, investors recently scaled back their expectations for Imminent Fed interest rate cuts. Although the latest inflation data came in at hopeful, the Fed may seek continuation of low inflation before taking decision of rate cuts. In fact, Fed Governor Chris Waller expressed his belief that the Fed could lower interest rates in the coming year as long as inflation remains in check.
Will Rampant Job Cuts Lead to Economic Slowdown?
In times of economic uncertainty and increased market volatility, investors often gravitate towards quality stocks. Tech layoffs increased in January. About 23,670 workers have been laid off in January, the most in any month since March, according to the website Layoffs.fyi, as quoted on CNBC. Concerns have emerged in various sectors of the economy about the diminishing necessity for human labor, due to growing deployment of artificial intelligence (AI).
The layoffs aren’t limited to the tech industry. Citigroup said earlier this month that it was cutting 10% of its workforce. And on Thursday Levi Strauss said it will lay off at least 10% of its global corporate workforce as part of a restructuring. Paramount became the latest media brand to announce cuts.
In its latest earnings release,Visa (V) delivered a cautious revenue growth forecast, raising concerns about a slowdown in U.S. payments volume growth, which could signal an impending economic downturn.
ETFs in Focus
Against this backdrop, investors can bet on quality ETFs like WisdomTree U.S. Quality Growth Fund (QGRW - Free Report) , American Century U.S. Quality Growth ETF (QGRO - Free Report) , Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG - Free Report) , iShares MSCI USA Quality Factor ETF (QUAL - Free Report) and JPMorgan U.S. Quality Factor ETF (JQUA - Free Report) .
In uncertain economic times, these companies are perceived as safer investments because they are more likely to withstand market downturns and continue to perform well.
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Japan’s Nikkei 225 index has surged about 9% this month, after a 28% gain in 2023. Currency-hedged Japan ETFs, which neutralize the fluctuations of the Japanese yen, are up more than 45% over the past year.
A combination of factors contributed to the rally. Last year, Warren Buffett's Berkshire Hathaway (BRK.B - Free Report) increased its stake in Japan's five largest trading houses. Buffett said that he likes these stocks for their earnings yields and dividends.
Global money managers now view Japan as a much more attractive investment destination than China. Chinese individual investors are also piling into Japanese shares.
The government has incentivized companies to improve corporate governance and use their capital efficiently. We have seen significant improvements in dividends and share buybacks, as well as the unwinding of cross-shareholdings in recent years.
Despite the recent surge, Japanese stocks remain attractively valued, particularly compared to US stocks. At the same time, the earnings and economic outlook remain positive.
The government is spending billions to attract semiconductor giants like Taiwan Semiconductor Manufacturing (TSM - Free Report) as it tries to regain its status as a major semiconductor power amid rising tensions.
The Bank of Japan has retained its ultralow interest rates while most of its peers raised rates aggressively last year, as inflation remains low compared with other developed countries. As a result, the yen has plunged against the dollar.
The decline in the currency boosts sales and profits for Japanese exporters. Furthermore, due to the strength of the dollar, currency-hedged ETFs have significantly outperformed unhedged Japan funds as well as the S&P 500 index.
The WisdomTree Japan Hedged Equity Fund (DXJ - Free Report) holds dividend paying exporters. Well-known companies like Toyota Motor (TM - Free Report) and Mitsubishi Financial Group (MUFG - Free Report) are its top holdings.
To learn more about DXJ, the Franklin FTSE Japan Hedged ETF (FLJH - Free Report) and the JPMorgan BetaBuilders Japan ETF (BBJP - Free Report) , please watch the short video above.
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Founded in 2014 to aid pro-Russian forces in Ukrainian Donbas, the Kremlin-backed Wagner Group has grown into a global network advancing Russian interests while generating revenue to sustain Russia’s war effort in Ukraine. A key focus is illicit African gold.
The Blood Gold Report, made by the international group of independent analysts, claims that the Kremlin has obtained over $2.5 billion in gold from Africa since Russia’s 2022 invasion of Ukraine. Wagner secures control of gold mines and refineries in the Central African Republic (CAR), Sudan, and Mali by propping up regimes and terrorizing civilians.
In CAR, Wagner obtained the country’s largest Ndassima gold mine in exchange for backing President Touadera’s authoritarian rule. Through control of a major gold refinery in Sudan, Wagner has become the dominant buyer of unprocessed Sudanese gold and a major smuggler of processed gold. In Mali, Wagner’s $10.8 million monthly payment from the junta depends on Western mining companies that provide over 50% of state revenue.
Exploiting gold’s meltability, Wagner infiltrates unethical sources into legal supply chains via refineries in Russia and the UAE’s sanction-free system. This blood gold fuels Russia’s war machine with up to $114 million monthly.
With the help of security expert Omar Ashour of the Doha Institute, Euromaidan Press analyzed the key findings of the Blood Gold Report, closely tracking Wagner Group’s gold exploitation in Africa and exposing illicit financing of Russia’s brutal war in Ukraine. Experts believe there are ways to close off these illegal money channels.
The CAR model: Wagner Group’s $2.8 billion mine
Wagner’s primary vehicle for managing its blood gold operations in CAR is Midas Resources, established in November 2019. Midas is steered by Wagner operative Dmitry Sytiy, who is personally sanctioned by the US and EU for human rights abuses.
Midas Resources has preferential mining access to CAR’s Ndassima gold mine, the country’s only industrial-scale mine. Canadian firm Axmin had exclusive rights but was forced out in 2013 and is now pursuing arbitration against CAR’s government.
Satellite imagery reveals Midas Resources is expanding production at Ndassima. The concession covers 12 unexploited locations in a 700 sq km radius.
Per the Blood Gold Report, Wagner Group’s operations there yield up to $290 million in gold annually. According to the CAR’s Ministry of Mines, the estimated gross value of gold deposits at the site is $2.8 billion. Wagner mercenaries ruthlessly oversee Ndassima, violently suppressing miner revolts.
A web of Wagner front companies also hold interests in the country. One example is the gold and diamond extraction company Lobaye Invest, whose managing director, Yevgeny Khodotov, is also sanctioned.
St. Petersburg-based M-Finance is pivotal in linking Wagner Group’s operations in CAR to global logistics and financial networks. M-Finance exports equipment for Wagner’s African enterprises from Russia to Africa. Initially headed by Valeriy Zakharov until his 2021 removal due to EU sanctions, M-Finance’s responsibilities were divided among Wagner operatives Vitalii Perfilev, leading Wagner’s CAR mission, Dmitry Sytii, and Alexandr Ivanovis, who directs Wagner spying and sabotage missions on behalf of the Touadera regime.
Diamville SAU, another Wagner-linked company, participated in a gold-selling scheme converting CAR-origin gold into US dollars until facing US sanctions in 2023. After that, participants in the scheme planned to move their operations onto a cash-only basis.
Under heightened scrutiny and sanctions, Wagner resorts to complex means to export resources from CAR. A favored tactic involves transshipping gold via third-party countries, such as the route between CAR and Cameroon. Overland shipment to the Congo market in Douala port facilitates cash-only transfers managed by Wagner-affiliated International Global Logistics.
CAR’s border with Sudan is an alternate smuggling route, allowing Wagner Group to carry items to and from “friendly” countries.
When such paths fail, Wagner uses unconventional methods, including registering private jets instead of cargo planes to evade controls. Additionally, the group seeks collaboration with criminal networks and militia groups in CAR to smuggle goods on its behalf.
The Sudan model: a “gold town” for Wagner Group
Sudan’s gold sector is rife with factionalism among political elites, military factions, and financial players. The state sees little revenue as up to 90% of gold production is smuggled out illegally. Artisanal mining – done by hand using basic tools – generates 85% of production.
Wagner Group’s extensive Sudan interests are managed by M-Invest, led by Andrei Mandel and Mikhail Potepkin.
M-Invest’s financial agreement with Sudanese intelligence firm Aswar involves a $200,000 “goodwill fee,” $100,000 monthly covering Aswar staff salaries and taxes, plus $500 per Wagner individual entering Sudan. In exchange, Aswar provides the Russians access to Sudan and its Ministry of Defense weaponry.
M-Invest’s subsidiary, Meroe Gold, served as Wagner’s primary front until 2021, exploiting regulatory exemptions granted under al-Bashir’s regime. Meroe Gold dominated gold processing, notably through a plant in “gold town” al-Ibaidiya. This area, abundant with artisanal miners and local mining companies, also hosted a major processing facility known locally as “the Russian company,” which was synonymous with Meroe Gold.
By controlling the al-Ibaidiya plant, Meroe, and consequently Wagner Group, became major players in Sudan’s gold sector. Facing 2020 US sanctions, Meroe Gold was simply replaced by Al Sawlaj for Mining Ltd.
A 2018 letter revealed M-Invest arrangements with Aswar to utilize military flight codes. In 2022, a Russian plane was found smuggling a ton of gold hidden among cookie boxes, one of at least 16 such flights between Khartoum and Russia’s Syrian airbase. Wagner also transports gold overland to CAR through a shared border.
Russians also plan for a new major naval base in Port Sudan. Announced in 2018 under al-Bashir’s rule, the al-Burhan junta later approved the project. This may facilitate large-scale Russian smuggling operations if Wagner can navigate Sudan’s civil war. The proposed base includes a logistics center, a repair yard, four naval ships, up to 300 personnel, and nuclear-powered ships.
The Mali model: cash instead of gold
Wagner initially tried to replicate its strategy from CAR and Sudan in Mali, Africa’s 4th largest gold producer. The group brought in geologists and mining executives and established mining companies. However, displacing international corporations proved difficult.
So, Wagner pivoted to a cash-for-security deal with the junta. Mali pays Wagner a reported $10 million monthly, handing over $200 million between late 2021 and mid-2023. This is enabled by taxes from international mining companies, especially the four largest: Barrick Gold, B2Gold, Resolute Mining, and Allied Gold, which paid approximately $588 million in taxes and royalties to the junta in 2022. International mining firms operate with the State of Mali holding a 20% stake in their respective operating companies.
Unlike in CAR and Sudan, Wagner does not need elaborate corporate schemes in Mali to turn blood gold into cash. Major international mining companies certify Malian gold exports as ethical before refining. Then, it enters the legal global market and becomes untraceable.
- Barrick Gold, a Canadian-based mining firm, has operated gold mines in Mali for 26 years. It now owns two active mines there – Loulo and Gounkoto. The company paid $263 million in taxes in 2022, making it the largest contributor.
- B2Gold, the Canadian-based mining company, has operated the Fekola gold mine in Mali since 2014. In 2022, B2Gold paid $196 million in taxes.
- Resolute Mining, the Australia-based gold miner, has run the Syama mine since 2004. Resolute paid $67 million in taxes for 2022.
- Allied Gold, another Canadian headquartered company, bought Mali’s Sadiola mine in 2020. Allied has aligned with the junta, getting tax breaks. Sadiola paid over $63 million in taxes and royalties in 2022.
All four companies state human rights commitments but did not respond when the Blood Gold Report authors asked how they reconcile these with the junta’s abuses, enabled by Wagner. By continuing operations, companies have reaped revenues despite the coup. The junta also benefits – 2022 revenues from miners rose 35% to $1.3 billion, over 50% of tax income.
Under Russian influence, the junta aims to increase control and revenues. In July 2023, the junta moved to review the mining code, proposing rules allowing the state to take up to 35% of new mining projects, up from 20%. Barrick Gold CEO Mark Bristow stated the junta needs time to “comprehend” as they are “military people.”
Despite the junta’s increasing demands and Russia’s growing influence, the companies seem intent on maintaining the status quo of operations and investments.
Beyond the $10 million monthly payment, Wagner appears to be considering mining concessions in northern Mali, an area abundant with artisanal mining sites but lacking industrial mining.
This move could further complicate matters for international companies, particularly as the junta has inked a deal for Russia to construct a 200-tonne annual refinery – the largest in West Africa. Given the refinery’s significant capacity compared to the 2022 production of 66.2 tonnes, it suggests the junta aims to channel all Malian gold through it, potentially demanding more from its international partners.
Western complicity in Wagner atrocities across Africa
Western companies operating in Africa are indeed to some extent responsible for Wagner Group’s abuses in Africa, agrees security expert Omar Ashour of the Doha Institute. However, pinpointing culpability within those private firms is challenging.
“The company paying the largest amount to the Malian government is registered in Canada. But who runs it? You could have a Russian dual citizen register there while living in Moscow,” explains Ashour. “Or a Putin loyalist from Brazil registers in Canada but resides in Rio. So untangling ownership is complicated.”
While complex, tracing responsibility is possible given Western transparency standards requiring companies to register owners and directors. As Ashour notes, backgrounds of board members and managers can be accessed.
Western governments, particularly former colonial power France which still wields influence, also bear a degree of responsibility for turmoil unfolding across post-colonial Africa, notes the expert. In Mali after 2012, a coalition of insurgents including separatists, Al-Qaeda affiliates and other militants severely challenged government control, occupying significant territory. Though France initially helped Mali’s government regain control, their military success gradually declined, leading to stalemate. When a coup occurred in 2020, the new Malian junta expelled French forces then turned to the Wagner Group, paying its mercenaries $10.8 million monthly partly using taxes imposed on Western mining companies.
“Western forces, including the French, British, and Italians, were present in Mali, but they left at the request of the Malian government following a coup. This shift in dynamics resulted in the regime aligning with Russia,” explained Ashour.
Western response to Wagner Group’s blood gold: effectiveness and limitations
Wagner’s blood gold network uses complex corporate and individual intermediaries, remaining largely adaptable. However, sanctions disrupt supply chains and financing. Since Putin’s 2022 Ukraine invasion, Western allies imposed asset freezes, trade and travel bans on Wagner and Russia with turbulent impact.
- Over €20 billion in assets belonging to 1,500+ sanctioned entities were frozen by the EU, G7 nations, and Australia. In July 2023, the UK introduced thirteen new sanctions against Wagner leaders and front companies, restricting dealings for UK citizens, companies, and banks.
- Export prohibitions limit Kremlin access to vital technologies, hindering heavy machinery development crucial for industrial gold mining.
- Import restrictions severed Russia’s gold sales in the UK, Canada, the US, and Japan, causing a revenue drop. Russian gold exports fell from $17.3 billion in 2021 to $7.1 billion in 2022.
- Travel bans force Russia and Kremlin affiliates to avoid sanctioned territories, potentially restricting access to entire continents.
- Dollar dominance allowed the US to freeze half of Russia’s “war chest,” crippling international transactions. The EU’s SWIFT system, developed with the US, disconnected a number of Russian banks.
- Secondary sanctions add to the impact, with the London Bullion Market Association prohibiting gold trades with entities violating relevant EU, US, UK, or other economic and trade sanction lists.
However, Western sanctions against Kremlin-linked entities face significant weaknesses.
- Lack of harmonization among EU, UK, and US sanctions leads to inconsistencies and potential evasion opportunities.
- Gaps in the overall scope of sanctions, particularly regarding the use of private jets for transnational travel, allow for continued Russian air travel to non-Western allies despite restrictions on elite access to European airspace.
- The reactive nature of sanctions frameworks, with slow updates, contrasts with the adaptive nature of Wagner’s blood gold networks.
- Lack of a unified policy among Western powers to automatically sanction any sovereign or political actor employing Wagner’s services.
- Vast areas of global commerce remain unaffected by sanctions, allowing Wagner and Kremlin actors to conduct business uninhibitedly.
The UAE, suspected to be a major destination for Wagner and Kremlin-linked blood gold, increased Russian gold imports from 1.3 to 75.7 tonnes between 2021 and 2022. The UAE gold industry largely avoided Western sanctions, allowing the export of laundered Russian gold to countries that also do not impose sanctions on the Kremlin, such as India, Hong Kong, Saudi Arabia, Switzerland, and Türkiye. Once gold is melted and recast, its origin becomes effectively untraceable.
While some of the above limitations can be amended, others are inherent to the nature of sanctions. Additional private sector support is crucial to counter Wagner’s adaptive blood gold system robustly. Corporate social responsibility (CSR) frameworks in mining firms and investors can enhance vigilance. However, for CSR to significantly wind down Wagner’s gold revenue, it must be robustly and proactively applied. Evidence suggests this did not happen.
Furthermore, only the UK and France formally designated Wagner a terrorist group. However, public pressure could convince more Western governments, believes Ashour.
“Ukrainian legal experts should file cases against Wagner for crimes, with aid from Western colleagues. Their atrocities could warrant International Criminal Court prosecution,” Ashour stated.
Stopping Wagner’s blood gold system
The Blood Gold Report authors offer measures to close off avenues for Wagner blood gold profiteering:
- WIDEN sanctions to automatically target any party that employs Wagner’s security services.
Sanctioning just Wagner is ineffective since the group readily shifts personnel and assets to new entities. Instead, authorities must also target governments and companies employing Wagner, imposing a binary choice: work with sanctioned mercenaries or access global markets. Where authoritarian regimes still choose Wagner, third parties cannot work with them without penalties, preventing scenarios as in Mali.
- INTRODUCE stringent supply chain controls to prevent blood gold infiltration.
Wagner profits by turning looted African gold into hard currency, targeting upstream supply links. The group ships illicit gold to refining hubs with lax oversight like the UAE. This infiltration polluents downstream supply chains globally. Refineries must face penalties for insufficient due diligence, including potential exclusion from the global gold industry. By targeting upstream links, enhanced diligence standards can sever Wagner’s cash flow.
- DEMAND real responsibility from international mining companies.
No company should engage in activity enriching the Wagner Group or regimes using state resources for Wagner-directed brutality. Despite extensive CSR frameworks, mining firms and trade bodies trigger little meaningful withdrawal from risky deals. Where self-regulation fails, institutional investors and governments must force change by penalizing complicit companies.
- DESIGNATE Wagner a terrorist group and set the International Criminal Court on the group’s trail.
The UK designated Wagner a terrorist entity in 2023, enabling tighter scrutiny. However the US, EU and allies have not yet done so, missing an opportunity to boost law enforcement cooperation and ICC referral. Despite typically lengthy cases, the ICC demonstrates determined pursuit of justice against rights violators.
- DEEPEN sanctions collaboration between allies and international partners.
Tightening UK/EU/US sanctions coordination via a swift unified mechanism would minimize circumvention risks and patchwork policies, while expanding collaboration through the UN, EU and African institutions like the African Union, ECOWAS and EAC can prioritize addressing Wagner’s blood gold.
- INCREASE support to African democratic states, independent media, and civil society groups threatened by Wagner Group operations on the continent.
While the Kremlin bears full responsibility for Wagner Group’s damage and displacement of millions in Africa, Western government failure over the past decade to counter Russia’s hybrid warfare enabled Wagner’s success. To correct this, Western nations should engage with countries under the Kremlin’s influence, strengthen ties with neighboring democratic African states, and offer real support to African democracies facing Russian hybrid warfare and Wagner Group violence.
Read more:
- How Wagner Group exports Putin-style rule to Africa
- Wagner defector exposes Russia’s Donbas ruse, false-flag ops in bombshell interview
- UK intel: Russia officially recognizes Wagner Group veterans
- “They just did it for fun”: Ukrainian survivors detail Wagner group horrors
- UK declares Russian Wagner Group a terrorist organization
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“It gives them a deeper strike capability they haven’t had, it complements their long-range fire arsenal,” the US official told Politico. “It’s just an extra arrow in the quiver that’s gonna allow them to do more.”
The bomb enhances Ukraine’s long-range capabilities, used for targeting Russian logistics and Crimea targets, supplementing existing stocks, including the Storm Shadow/SCALP and US Army Tactical Missile System (ATACMS), as Ukraine’s munitions deplete.
Ground forces’ rocket-propelled bomb
According to media reports, the US considered GLSDB supplies to Ukraine in late 2022, with deliveries initially planned for the spring of 2023.
The US announced an aid package containing the GLSDB in February 2023, long before Congress started to delay the approval of new funds for Ukraine in the fall of 2023.
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The queues of volunteers signing up for the draft from the early days of the invasion are all but gone. Many soldiers deployed to the front have only several days of vacation per year as their families increasingly demand that defending the motherland become a truly common obligation.
This is because Ukraine’s current law contains many reasons exempting a person from mobilization duty and doesn’t specify the service timeline, making it essentially an endless volunteer commitment.
Now, an increasing number of Ukrainians demand justice for soldiers fighting for two or more years, while army commanders of various levels warn that if parliament doesn’t adopt a new mobilization law, the shortage of personnel can become critical.
Why de-jure obligatory mobilization is largely a volunteer service
The current mobilization law was adopted back in the 1990s when few believed there would be a war. Due to numerous exemptions from mobilization, the law in practice meant that “obligatory” mobilization became at least half-voluntary.
According to the current law, the mobilization duty applies to men aged 27 to 60.
However, those who didn’t want to serve could easily refer to health issues or ill relatives. They could enroll in university or take care of their old parents with disabilities – all these were legal reasons to receive postponement from mobilization. All state bureaucracy staff and officials, all teachers at schools and universities, and some medical workers also had an official mobilization postponement. Just like workers at the so-called “critical infrastructure,” which included many services such as city transport and even parking inspection. Finally, fathers of three or more children also were exempt from duty.
Although many could easily find a legal excuse to avoid mobilization, over one million Ukrainians joined the army in the first months of the Russo-Ukrainian war – some coming to the enlistment offices themselves and some immediately after the first call.
After two years of exhausting battles, military officials and ordinary soldiers demand replenishment.
This is not only to replace killed and wounded in action. Many soldiers also now have critical health issues after two years spent in the trenches, eating mostly canned food and sleeping in dugouts. They also need the possibility of at least short rotations, which are not possible everywhere due to a shortage of personnel.
Finally, to conduct offensive operations, Ukraine needs more reserves.
The new draft law is expected to make mobilization rules stricter
The government submitted a draft law to parliament and the public on 25 December 2023. However, after three weeks of hot debates, the bill was returned to the government for revision and finalization and submitted again on 30 January 2024.
Ukraine’s parliament made the first step towards mobilization reform on 16 December 2023, adopting the law on the digital register of conscripts.
This register will synchronize information about recruits from different databases, providing military enlistment offices with more up-to-date and accurate information. It will help the offices reach out to people living outside of their official address, which was a problem previously.
This digital register will also accelerate all administrative services for already mobilized people, including certificates of participation in combat actions.
However, the parliament still has to adopt the main mobilization law.
Parliament is slated to debate the revised mobilization bill on 6 February 2024 when the new legislative session commences, as the draft law remains the most contentious issue on the agenda.
- The initial draft proposed cutting the number of exemptions from mobilization, lowering the minimum mobilization age from 27 to 25, and imposing harsher penalties for draft evasion.
- Another measure was introducing an electronic system of notifications for conscripts and setting the maximum length of service at three years.
- Finally, it proposed to introduce basic military training for all Ukrainians so that they would be ready for possible mobilization.
The MPs’ main concerns were related to the proposed extended functions of military enlistment offices and the draft allowing them to freeze the property of those who failed to arrive upon a call.
Why compulsory mobilization is necessary for Ukraine to beat Russia
Compulsory mobilization is needed to replenish losses and prepare reserves for the Ukrainian offensive. But it is also necessary to connect the rear and the front, making the entire society work for the war effort. Last but not least, it would provide soldiers fighting the entire war with at least some temporary rest and recovery.
A Ukrainian breakthrough is possible only with a sufficient number of troops, significantly larger than at least 400,000 Russians deployed in Ukraine.
Moreover, as Ukrainian Commander-in-Chief Valeriy Zaluzhnyi mentioned, additional troops may be needed for defensive operations if Russians prepare reserves and attack from new directions, such as the northern border.
Finally, under current laws, mobilization can continue indefinitely with no set end date as long as martial law remains in effect, creating tremendous unfairness and divide between soldiers and civilians.
At the outset of war, society rallied together behind the war effort. But as the frontline solidified, civilians retreated to their personal lives while fatigue and casualties mounted for frontline troops. Troops who enlisted two years ago when Russia’s full invasion began continue serving without the prospect of even a few months rest. Though officially allotted 30 vacation days annually, soldiers seldom obtain such respite.
“Last year, I had a vacation for four days. On 30 December, they called me to go back the next day. At three in the morning, that is, on New Year’s morning, I was already returning to the position,” says Runa, a servicewoman of the 56th brigade, in her interview with Hromadske.
She emphasizes that “military personnel also have families, children, and they also want to go home,” adding that she does not condemn only those men who are more useful in the rear by purchasing and driving cars to the frontline or providing other volunteer help.
She says that the Armed Forces of Ukraine need some reinforcement and at least partial replacement because there are not enough people now, especially in the infantry.
Only 7% of working-age Ukrainians are serving. Can Ukraine maintain a larger army?
Numerically, Ukraine still retains a vast reserve pool for potential mobilization. Roughly 31 million people live in Ukraine, down from 38 million before the war. Of them, nearly 15 million are of working-age; among these, almost 5 million are men eligible for mobilization based on age and health status.
But only about 1 million are currently serving, of whom presumably a few hundred thousand are frontline fighters bearing the most harrowing war toll. The publicly announced number of 880,000 servicemen includes rear support and numerous military units patrolling rear areas and borders.
Mobilization of women could also be considered, especially given that the army needs not only infantry but also different specialists.
Currently, only about 5% of military personnel in the Ukrainian army, or 43,000, are women – those who signed contracts voluntarily. The compulsory mobilization of women was taken off the table in December 2023 when Zelenskyy rejected it during his press conference, saying he would not sign such a law even if parliament adopted it.
He also said funds are the main limiting factor to mobilizing additional troops. Financial aid that Ukraine receives from partners is spent only on social support, education, and healthcare. At the same time, all soldiers’ salaries, equipment, food, fuel, and ammunition are paid from Ukraine’s budget. Ukraine spends over 80% of all taxes on defense.
“I also want to defend civilians for one second,” Zelenskyy said during his press-conference. “When we are talking about mobilization, it takes six civilians paying taxes to provide for one fighter.”
Later, during the interview with a journalist from the German TV channel ARD in Kyiv, Zelenskyy said that Ukraine lost nearly 7 million people as emigrants due to the war. Some of them were also men who left the country illegally or used exempts in the current law to leave. This means not only a lack of reserves for the army but also a lack of workers and taxpayers to support the country’s economy and the withdrawal of money from Ukraine to the countries where refugees took their savings. Therefore, Zelenskyy hinted it would be right if the EU support for such alleged “refugees” was redirected to support Ukraine.
Ukraine squeezes every last drop for defense in 2024 budget, Russia still 2.5x more
Still, speaking about full staffing of existing units and establishing fixed terms of service, rest, and rotation, additional mobilization is not only financially and demographically possible but also a must.
Human rights issues regarding mobilization in Ukraine
Ombudsman for Human Rights Dmytro Lubinets named provisions of the draft law which, in his opinion, violate the Constitution of Ukraine.
In particular, he said, the proposed draft would allow military enlistment offices to freeze property of those failing to arrive on the call. Although likely a practical measure, it would give enlistment offices, which are part of the military, the power to conduct law enforcement functions and limit the rights of citizens, contradicting the Constitution. Lubinets does not oppose such measures but highlights that other agencies, not the military, should perform this role.
“We have bodies that check the documents of Ukrainian citizens, primarily the National Police, the State Border Service, and the National Guard. But definitely not the military,” Lubinets said.
The speaker of the Ukrainian Parliament, Ruslan Stefanchuk, named similar concerns. He said that the main problems of the previous draft included the possibility of military enlistment offices freezing the assets of those avoiding service.
“We heard the military, the military heard us, we continue to work on preparing the right legal mechanism for mobilization,” Stefanchuk stated.
Another proposal was to limit the rights of Ukrainians who fled abroad from mobilization and failed to arrive at the military enlistment offices—in particular, freezing their assets in Ukraine and also depriving them of Ukrainian citizenship.
As the former judge of the Ukrainian Constitutional Court, Viktor Shyshkin, explained, the state cannot deprive citizens of citizenship – this contradicts the Constitution. According to Article 25 of the Constitution of Ukraine, citizens of Ukraine cannot be deprived of citizenship. They can only change their citizenship at their own will.
“Conversations about this are provocative. We need to look for other forms of solving this problem,” said Shyshkin.
But he also added that the current law on mobilization was adopted more than 30 years ago during the presidency of the first Ukrainian president, Leonid Kravchuk. The main focus of the law was on categories of people who are exempt from mobilization duties rather than the effectiveness of mobilization to staff the army:
“The Constitution was also written by politicians, among whom no more than ten people thought about a possible war. The law is written, roughly speaking, with the left hand under the right knee. The politicians of that time did not see any external threats: they called Russia a friend, and they gave it both our missiles and airplanes. When the war began, it became clear how flawed this mobilization law was. But I also call the current numerous draft laws on mobilization irresponsible,” Shyshkin said.
What Zelenskyy, Zaluzhnyi, and other politicians say
“We cannot afford war fatigue. If we get tired, we will lose what we have,” Ukraine’s President Volodymyr Zelenskyy said in his interview for Channel 4 News.
The new law on mobilization is, first of all, about justice, he said, reiterating that mobilization is necessary so that people who have been at war since the first day can rest.
And finally, “it is unfair to dodge mobilization when someone dies for you,” Zelenskyy said. “That is why the whole story about mobilization is, first of all, a question of justice.“
However, Zelenskyy avoided taking political responsibility for the law, saying that it was the military leadership who requested additional mobilization.
It appears he tries to satisfy all parts of society by saying both that new mobilization rules are needed and that taxpayers working in the rear also contribute a lot to victory.
Ukrainian media even wrote about a proposal considered by the Presidential office and the government to exempt a man from mobilization if he pays lots of taxes. However, it was never mentioned officially. This approach has struck a nerve with many Ukrainians, exacerbating grievances about perceived social inequality, which allegedly drives the poor to the trenches while the rich can buy their way out.
In turn, Ukraine’s Commander-in-Chief, Valeriy Zaluzhnyi, gave a large press conference on the topic of mobilization on 26 December 2023. The fact that it was his first press conference since the beginning of the full-scale invasion indicates the issue’s significance. Zaluzhnyi emphasized that mobilization is needed to enlarge the armed forces, ensure rotations, and conduct planned operations. It is also a response to Russia’s ongoing mobilization. https://euromaidanpress.com/2023/12/26/ukraines-commander-in-chief-addresses-mobilization-and-frontline-situation-in-briefing/?swcfpc=1
Zaluzhnyi also mentioned that the General Staff lacks the right to legislative initiative and has not submitted any documents to the government. The government and parliament are responsible for preparing a legal framework for mobilization and providing resources, while the army’s function is only to fight, Zaluzhnyi said.
In an interview with the Financial Times, the head of the Ukrainian military intelligence, Kyrylo Budanov, supported the mobilization reform, saying, “It is impossible even to imagine that we will be able to do without mobilization.” According to him, there needs to be more personnel in the ranks of Ukrainian troops.
Budanov repeated the call of the Ukrainian Commander-in-Chief Zaluzhnyi to increase the number of recruits. During the conversation, he wanted to avoid making bold predictions for the current year, saying only that he hopes Ukraine’s success will be greater than Russia’s in 2024.
Deputy Minister of Defense Nataliia Kalmykova said on TV that approving the new mobilization law is “a matter of weeks.” Its implementation is expected to begin in about a month. She also said the Ministry of Defense is already preparing drafts of decrees necessary to implement the law after its adoption. However, the new version of the law has yet to be submitted to the parliament by the Cabinet, and it is unclear whether MPs will vote for it within the mentioned terms.
Lawmakers already discussed the new law with Kalmykova for several days during the committee meeting before the Cabinet withdrew it for finalization on 11 January 2024. Ukraine’s Commander-in-Chief Valeriy Zaluzhyi and Minister of Defense Rustem Umerov were also at the committee meetings, one of the participants told Ukrainska Pravda.
Recruitment campaign
While parliament and government prepare the law’s final version, servicemen of various ranks are addressing the society, saying that Ukrainians should already start preparing for full-scale mobilization.
Trying to handle the shortage of staff in the army, the government launched a new recruiting campaign in November 2023 in cooperation with job-search platforms. Within the program, every recruit can freely choose the unit and position where he wants to serve. This is the program’s benefit compared to mobilization since the mobilized soldier would be sent not where he wants but where the enlistment office decides.
In the last three months, dozens of thousands of Ukrainians submitted applications to join the army, mostly elite units, according to job-search platforms. It is expected that as soon as the new mobilization law is adopted, the number of recruits participating in this program will further increase.
Read more:
- Ukraine passes law to enhance military readiness and veteran welfare
- Intel: Russia intensifies forced mobilization in occupied territories of Ukraine
- Ukraine’s Commander-in-Chief addresses mobilization and frontline situation in briefing
- Zelenskyy: Military proposes to mobilize up to 500,000 more people
- Russian authorities seek to suppress small-scale dissent among soldiers’ wives – UK intel
- Danilov warns of possible total mobilization in Russia after 2024 presidential election
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https://euromaidanpress.com/2024/01/30/ukraine-moves-to-plug-loopholes-demand-equal-sacrifice-in-draft/
| 2024-01-30T23:29:19Z
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The Main Intelligence Directorate of Ukraine (GUR) announced a successful cyberattack on a key communications server of the Russian Ministry of Defense.
According to a statement released by Ukrainian intelligence on the evening of 30 January, this cyber operation halted the information exchange between the Russian Ministry of Defense units using the Moscow-based server.
“As a result of a cyberattack, the server of the Defense Ministry of the aggressor state of Russia, which was used for special communications, went down,” the report detailed.
The software on the attacked server was reportedly approved by the Russian Federal Security Service (FSB) and was claimed to meet the state standards for information protection. This software was also installed on various strategic facilities in the Russian state sector, including military ones, the GUR added.
Earlier reports indicated that websites within the Russian domain zone “ru” had experienced widespread outages. The Coordination Center of Domains .ru/.рф, the administrator of national domains, acknowledged the issue.
The internet disruptions were not confined to a single region. Significant interruptions were reported in several major Russian cities, including St. Petersburg, Moscow, Yekaterinburg, Tyumen, and Rostov-on-Don, in the Far East, as well as in Kaliningrad, Samara, Omsk, and Kazan. Major Russian websites like Yandex and VK and various media outlets also faced operational issues.
Read also:
- Politico: Ukraine to receive first GLSDB rocket-propelled bombs with 150 km range on Jan. 31
- EU imposes sanctions on Russian internet censorship agency
- UK intel: Aircrew fatigue, poor training behind Russia’s repeated bombing blunders
- ISW: Russia using nationalist sentiments to drive wedges between Ukraine and its western neighbors
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https://euromaidanpress.com/2024/01/30/ukrainian-cyberattack-disrupts-russian-mod-server/
| 2024-01-30T23:29:59Z
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Exclusive
Military
General Staff: Ukraine destroys Russian Su-34 bomber in Luhansk Oblast. Ukrainian troops downed another Russian Su-34 bomber aircraft on 29 January, bringing the total of destroyed Russian fixed-wing assets to 332, Ukraine’s General Staff says.
Ukraine downs 15/35 Russia’s explosive drones overnight. Overnight, Russia attacked Ukraine with 35 Shahed “kamikaze” drones, hurting no one. Ukraine downed 15 of those, according to Ukraine’s military.
Intelligence and technology
Politico: Ukraine to receive first GLSDB rocket-propelled bombs with 150 km range on Jan. 31. Ukraine will receive the first ground-launched small-diameter bombs with 150 km range on 31 January, per Politico sources. The US announced GLSDB supplies early last year, but the new weapon’s testing lasted months.
UK intel: Aircrew fatigue, poor training behind Russia’s repeated bombing blunders. Repeated accidental bombings of Russian villages by Russian military aircraft this month point to aircrew fatigue and deficient aerial mission training, per UK intelligence.
Ukraine builds its own weapons to fight Russia. Ukraine has a clear plan to win the war with Russia by increasing the number of secret bases and factories where new weapons are tested and produced, Ukraine’s Minister for Strategic Industries tells Time.
Rheinmetall to build new ammo factory to meet needs of Germany and Ukraine. Ukraine, which is in dire need of ammunition after the US cut off military aid, will receive a boost from a leading German arms manufacturer.
Netherlands boosts military aid to Ukraine by €122 million. The Netherlands will help Ukraine buy 155-mm artillery ammunition and strengthen its cyber defense.
International
EU imposes sanctions on Russian internet censorship agency. The European Council also sanctioned Russian judicial figures for human rights violations, including the detention of activist Vladimir Kara-Murza.
ISW: Russia using nationalist sentiments to drive wedges between Ukraine and its Western neighbors. Russia appears to be fueling and seizing on neo-imperialist and nationalist sentiments in Europe in order to drive wedges between Ukraine and its Western neighbors, the US-based think tank Institute for the Study of War (ISW) says.
Humanitarian and social impact
Russian soldiers kill family of three in occupied Kreminna. A 60-year-old woman, her daughter, and her son-in-law were shot dead by Russian soldiers in cold blood, according to Russian social media.
Political and legal developments
Ukraine ranks 104th out of 180 in the 2023 Corruption Perceptions Index by Transparency International, achieving one of the world’s best results. The Corruption Perceptions Index ranks 180 countries and territories around the globe by their perceived levels of public sector corruption, scoring on a scale of 0 (highly corrupt) to 100 (very clean).
RFE/RL: Russian figure skaters lose Olympic gold amid doping scandal. The International Skating Union (ISU) has demoted the Russian figure-skating team that took part in the 2022 Beijing Olympics from gold to bronze due to the disqualification of Russian teen skater Kamila Valiyeva, 17, for a doping offense.
New developments
Ukrainian cyberattack disrupts Russian MoD server. The cyber operation halted the information exchange between the Russian Ministry of Defense units using the Moscow-based server.
Read our earlier daily review here.
As of 30 Jan 2024, the approximate losses of weapons and military equipment of the Russian Armed Forces from the beginning of the invasion to the present day:
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- Personnel: 384140 (+960)
- Tanks: 6300 (+10)
- APV: 11725 (+29)
- Artillery systems: 9144 (+31)
- MLRS: 972
- Anti-aircraft systems: 663 (+3)
- Aircraft: 332 (+1)
- Helicopters: 324
- UAV: 7084 (+35)
- Cruise missiles: 1846
- Warships/boats: 23
- Submarines: 1
- Vehicles and fuel tanks: 12191 (+42)
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https://euromaidanpress.com/2024/01/31/russo-ukrainian-war-day-706-ukraines-cyberattack-disrupts-key-russian-military-server/
| 2024-01-30T23:30:39Z
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Rising environmental concerns are driving a global shift toward sustainable energy, with electric vehicles (EVs) taking center stage. This surge in EV sales is poised to drive significant growth in the Zacks Automotive – Foreign industry as cities and nations worldwide push for green energy transitions and deadlines to phase out fossil fuel vehicles. Notably, India, China, Japan and Europe experienced year-over-year growth in vehicle sales in 2023. The momentum is expected to continue in 2024, albeit at a possibly slower pace. The attractive valuation of the industry, trading at a discount compared to the S&P 500 and broader automotive sector, further bolsters its appeal. Prominent industry players such as BYD Co Ltd. (BYDDY - Free Report) , BMW AG (BMWYY - Free Report) and Honda (HMC - Free Report) present compelling investment opportunities.
Industry Overview
Companies in the Zacks Automotive – Foreign industry are involved in designing, manufacturing and selling vehicles, components as well as production systems. The foreign automotive industry is highly dependent on business cycles and economic conditions. China, Japan, Germany and India are some of the key foreign automotive manufacturing countries. The widespread usage of technology is resulting in a fundamental restructuring of the market. Stricter emission and fuel-economy targets, the ramp-up of charging infrastructure as well as supportive government policies are boosting sales of green vehicles. With almost all firms intensifying their electrification game, competition is getting tougher with each passing day. Foreign automakers are now actively engaged in the R&D of electric and autonomous vehicles, fuel efficiency and low-emission technologies.
Things to Consider
EU Car Market Navigating Challenges Amid Growth Prospects: The European car market displays a cautiously optimistic outlook for 2024. New car registrations in the European Union (EU) rose 13.9% in 2023, reaching 10.5 million units. Although sales are anticipated to continue their upward trajectory this year, the pace of growth is projected to moderate compared to the previous year. According to GlobalData, sedan and SUV sales in Western Europe are forecast to rise 5.5% in 2024. S&P Global Mobility predicts a 2.9% year-over-year increase in auto sales in the Western and Central European markets. Despite the expected growth, factors that may contribute to a slower pace include the looming risks of economic recession, tighter credit conditions, the gradual release of pent-up demand, persistent high car prices and the gradual reduction of electric vehicle (EV) subsidies. So, looking ahead, while the European car market is poised for further expansion, the momentum is likely to be tempered by various economic and industry-specific challenges.
India's Continued Car Market Growth: In 2023, India maintained its position as the world's third-largest automotive market, staying ahead of Japan for the second consecutive year. India's growing population, economic growth, and rising motorization have propelled its passenger vehicle industry to secure the third position globally in volumes, trailing only China and the United States. India’s burgeoning middle class, increasing disposable incomes, improved road infrastructure and accessible financing are escalating demand for automobiles. Amid robust demand and supply chain enhancements, India's passenger vehicle market achieved a significant milestone in 2023 by surpassing 4 million units for the first time. The SUV segment dominated with a 48.7% share in 2023 and is projected to maintain strength, potentially increasing to 52-53% this year. Industry executives anticipate growth in the domestic car market in 2024, albeit subdued to single digit growth rate.
China's EV-Driven Auto Market Momentum: In 2023, China's vehicle sales rose 12% year on year to reach 30.1 million units, per the China Association of Automobile Manufacturers. In 2024, the market is expected to maintain momentum, buoyed by pent-up demand and a gradual restoration of consumer confidence, which is yet to fully return to pre-pandemic levels. S&P Mobility forecasts a 4.2% increase in demand for the year. Specifically, the EV sector in China is experiencing robust activity. The affordability of new energy vehicles (NEVs) in China is anticipated to improve further in 2024, with local battery cell prices already witnessing significant declines throughout 2023. Combined with the extension of NEV tax exemptions into 2024-2025, the penetration of NEVs as a percentage of passenger vehicles is projected to rise to 44% in 2024, up from 36% in 2023.
Japan’s Auto Market Recovery Amid EV Transition Hurdles: In 2023, total passenger car sales in Japan reached 3.99 million vehicles, marking a significant 15.6% year-over-year increase. This signals a promising turnaround following four consecutive years of contraction. The easing of the global semiconductor shortage played a pivotal role in Japan's car sales recovery, with the Honda N-Box retaining its position as the most popular passenger car. Additionally, EV sales surged 50% in 2023. While government subsidies for EVs and charging stations will serve as incentives for buyers, sales growth of zero-emission vehicles is expected to be gradual compared to regions like the United States and Europe, where government regulations actively drive EV adoption to support the automotive industry. Also, stimulating EV sales in Japan is a little challenging due to the dominance of hybrid cars, which effectively meet consumer demand, diverting potential interest away from EVs.
Zacks Industry Rank Indicates Rosy Prospects
The Zacks Automotive – Foreign industry within the broader Zacks Auto-Tires-Trucks sector currently carries a Zacks Industry Rank #63, which places it in the top 25% of around 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates decent near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. Since October, the industry’s earnings estimates for 2024 have moved 7.5% north.
Before we present a few stocks that investors can buy, given their solid potential, let’s look at the industry’s recent stock market performance and current valuation.
Industry Tops Sector and S&P 500
The Zacks Automotive – Foreign industry has outperformed the Auto, Tires and Truck sector and the Zacks S&P 500 composite over the past year. The industry has rallied 25.1% compared with the sector and S&P 500’s growth of 1% and 22.9%, respectively.
One-Year Price Performance
Industry's Current Valuation
Since automotive companies are debt-laden, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest Tax Depreciation and Amortization) ratio.
Based on trailing 12-month enterprise value to EBITDA (EV/EBITDA), the industry is currently trading at 11.27X compared with the S&P 500’s 14.23X and the sector’s 12.66X.
Over the past five years, the industry has traded as high as 12.54X, as low as 5.63X and at a median of 8.54X, as the chart below shows.
EV/EBITDA Ratio (Past Five Years)
3 Stocks to Buy
BYD: China-based BYD is a leading player in automobile research, manufacturing and distribution, alongside secondary rechargeable batteries and mobile phone components. In the fourth quarter of 2023, BYD surpassed Tesla to become the world's top seller of pure electric vehicles. With a vertically integrated structure spanning mines, battery production and chip manufacturing, BYD holds a competitive advantage.
The company boasts an international footprint across Asia, Europe and Latin America, with significant inroads in markets such as Japan, India, Malaysia, Australia, Singapore, Israel and Europe. Its diverse electric vehicle lineup, featuring models like Seagull, Denza, and Yangwang, has propelled its global acclaim. BYD maintains a steadfast commitment to cost-reduction initiatives across its production processes.
BYD currently sports a Zacks Rank #1 (Buy) and has a VGM Score of A. The consensus mark for 2023 sales and earnings implies year-over-year growth of 27.3% and 35.3%, respectively. The Zacks Consensus Estimate for 2024 earnings per share has been upwardly revised by 30 cents over the past seven days to $3.93 per share.
Price: BYDDY
BMW: It is a Germany-based automotive powerhouse that specializes in producing and distributing luxury vehicles and motorcycles. In the previous year, the BMW Group achieved a record-breaking milestone, delivering 2,555,341 BMW, MINI and Rolls-Royce vehicles to customers, marking a 6.5% increase in sales. Stepping boldly into electrification, BMW anticipates EVs to comprise 50% of its global sales by 2030.
The company has ambitious plans to deliver 2 million fully electric vehicles by 2025 and increase this number to 10 million by 2030. With an extensive lineup of 18 fully electric models across all its brands, BMW is poised for significant growth in the BEV segment. Currently, one in every five newly delivered vehicles boasts a fully electric drivetrain, a figure set to rise to one in four by 2025.
BMW aims to deliver more than 500,000 electric vehicles this year, ensuring substantial double-digit growth aligned with the company's global objectives. The stock currently sports a Zacks Rank #1 and has a VGM Score of A. The Zacks Consensus Estimate for 2023 and 2024 EPS has been upwardly revised by 16 cents and 42 cents, respectively, over the past 60 days.
Price: BMWYY
Honda: Based in Japan, it is one of the prominent manufacturers of automobiles and the largest producer of motorcycles in the world. Honda’s 2030 Vision, which emphasizes electrified mobility products, bodes well. Honda targets EVs to account for 20% of its sales in Japan and 40% of its sales in North America and China by the decade's end. Its joint venture with GAC Group and Dongfeng Motor Group will drive its EV prospects in China.
In August 2023, Honda launched its first personal-use electric motorcycle in Japan, EM1 e. Demonstrating innovation, it showcased the SC e: Concept motorcycle at the Japan Mobility Show 2023. The company plans to introduce 10 models in the next five years in its e:N series. As part of the global restructuring move, Honda has been taking steps to control costs and optimize production capacity.
HMC currently sports a Zacks Rank #1 and has a VGM Score of A. The consensus mark for fiscal 2024 and 2025 earnings implies year-over-year growth of 37.3% and 11%, respectively. The Zacks Consensus Estimate for fiscal 2024 and 2025 EPS has been upwardly revised by 7 cents and 3 cents, respectively, in the past seven days.
Price & Consensus: HMC
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
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https://www.zacks.com/commentary/2217641/3-top-foreign-auto-picks-riding-the-industrys-strength
| 2024-01-30T23:36:45Z
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Research Daily
Today's Must Read
Robust Portfolio, Services Strength to Benefit Apple (AAPL)
Visa (V) Rides on Increasing Payments Volume, Expenses High
Strong Wegovy & Ozempic Demands Boost Novo Nordisk (NVO)
Tuesday, January 30, 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 Apple Inc. (AAPL), Visa Inc. (V) and Novo Nordisk A/S (NVO). 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 >>>
Apple’s shares have outperformed the Zacks Computer - Mini computers industry over the past year (+33.6% vs. +33.0%). The company is benefiting from strong demand for the iPhone. Apple expects the iPhone’s year-over-year revenues to grow on an absolute basis in first-quarter fiscal 2024.
Revenues for Mac are expected to significantly accelerate compared with the fourth-quarter fiscal 2023’s reported figure. It expects the year-over-year revenue growth for both iPad and Wearables, Home and Accessories to decelerate significantly from the September quarter due to a different timing of product launches.
For the Services segment, Apple expects average revenues per week to grow at a similar strong double-digit rate as it did during the September quarter. It is benefiting from increasing customer engagement in the services segment. The expanding content portfolio of Apple TV+ aids subscriber growth.
(You can read the full research report on Apple here >>>)
Shares of Visa have outperformed the Zacks Financial Transaction Services industry over the past year (+19.8% vs. +15.6%). The company’s stock prices are driven by strategic acquisitions and alliances fostering long-term growth.
Fueled by increased payments and sustained investments in technology, it is witnessing bottomline growth. The ongoing shift to digital payments is advantageous for Visa, with strong domestic volumes supporting overall performance. A robust cash position enables the company to enhance shareholder value.
However, elevated operating expenses pose margin challenges. Increased client incentives may impact the top line. Additionally, it is witnessing a declining cash volume from the Asia Pacific and CEMEA regions. As such, the stock warrants a cautious stance.
(You can read the full research report on Visa here >>>)
Shares of Novo Nordisk have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+58.5% vs. +22.8%). The company has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus have been performing well in the diabetes market.
Obesity drug Wegovy has been enjoying increasing demand. Label expansions of diabetes and obesity care drugs in cardiovascular and other indications will likely boost sales. Novo Nordisk raised its 2023 view due to higher demand for Ozempic and Wegovy.
Its diversifying efforts to develop new treatments are encouraging. To tackle the supply constraints of Wegovy in international markets, Novo recently announced initiating a €2.1 billion project to expand its current manufacturing facility in Chartres, France. Despite intense rivalry in the obesity care market, Novo Nordisk has been maintaining its market share.
(You can read the full research report on Novo Nordisk here >>>)
Other noteworthy reports we are featuring today include PepsiCo, Inc. (PEP), S&P Global Inc. (SPGI) and CrowdStrike Holdings, Inc. (CRWD).
Mark Vickery
Senior Editor
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/2217814/top-stock-reports-for-apple-visa-novo-nordisk?-novo-nordisk
| 2024-01-30T23:36:51Z
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The Zacks Accident and Health Insurance industry is expected to ride on the increase in underwriting exposure. Aflac Incorporated (AFL - Free Report) , Unum Group (UNM - Free Report) , Employers Holdings (EIG - Free Report) and Trupanion (TRUP - Free Report) should continue to benefit from prudent underwriting standards. However, a rise in claims frequency could weigh on the positives.
The industry has been witnessing soft pricing over the past several quarters, which is not expected to change any time soon. Nonetheless, a rise in claims, with business activities returning to normal levels, is likely to favor pricing for this industry. Also, the increasing adoption of technology in operations will help the industry to function smoothly.
About the Industry
The Zacks Accident and Health Insurance industry comprises companies providing workers’ compensation insurance, mainly to employers operating in hazardous industries. These companies offer group, individual or voluntary supplemental insurance products. Workers' compensation is a form of accident insurance paid by employers without affecting employees’ pay. Claims are generally met by insurers or state-run workers’ compensation fund, benefiting both employers and employees. While it boosts employees’ morale and, in turn, productivity, employers stand to benefit from lower claim costs. As awareness about the benefits of having such coverage rises, the future of these insurers seems bright. Per reports published in IBISWorld, the size of U.S. workers' compensation insurance industry was $55 billion in 2023 based on revenues.
3 Trends Shaping the Future of the Accident & Health Insurance Industry
Pricing Pressure to Continue: The worker compensation industry has been witnessing pricing pressure over the past several quarters. Efforts to retain market share will further increase pricing pressure, which might curb top-line growth. With commercial and industrial activities back on track, the demand for insurance coverage is likely to be on the rise. SpendEdge estimates workers’ compensation insurance pricing to increase at a five-year (2022-2026) CAGR of 5.3%. Also, per a CBIZ report, workers’ compensation pricing is expected to rise 2%.
Claims Frequency to Improve: The accident and health insurance space has witnessed growth over the years, primarily driven by an increase in benefits offered by employers. The right kind of workers’ compensation policy translates into personal care for injured workers, increased productivity, higher employee morale, lower turnover, reduced claims costs and less financial worry amid rising medical costs. Increasing underwriting exposure, sustained decrease in claims frequency rates attributable to a better working environment and conservative reserve levels have been boosting the industry’s performance. Per U.S. Bureau of Labor Statistics data in an AmTrust Financial report, workers over the age of 55 will increase to about 25% in 2024 from 21.7% in 2014. Thus, claims could rise based on the degree of severity, the report states.
Increasing Adoption of Technology: The industry is witnessing accelerated adoption of technology in operations, including artificial intelligence. Electronic applications, e-signatures, electronic policy delivery, cloud computing and blockchain should help insurers gain a competitive edge. Per a CBIZ report, industry data reveals that artificial intelligence could reduce workers’ compensation claim expense by about 45%. Nonetheless, higher spending on technological advancements will result in escalated expense ratios.
Zacks Industry Rank Indicates Bright Prospects
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates encouraging near-term prospects. The Zacks Accident and Health Insurance industry, housed within the broader Zacks Finance sector, currently carries a Zacks Industry Rank #34, which places it in the top 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.
The industry’s position in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential. The industry’s earnings estimate for the current year has moved up 7.1% in a year.
We present a few stocks one can buy or retain, given their business advancement endeavors. But before that it’s worth taking a look at the industry’s performance and current valuation.
Industry Outperforms Sector but Underperforms S&P 500
The Accident and Health Insurance industry has outperformed its own sector but underperformed the Zacks S&P 500 composite over the past year. The stocks in this industry have collectively gained 11.1% in the past year compared with the Finance sector’s increase of 8.6% and the Zacks S&P 500 composite’s increase of 21.1% over the same period.
One-Year Price Performance
Current Valuation
On the basis of a trailing 12-month price-to-book (P/B), commonly used for valuing insurance stocks, the industry is currently trading at 1.77X compared with the Zacks S&P 500 composite’s 3.39X and the sector’s 6.21X.
Over the past five years, the industry has traded as high as 1.87X, as low as 0.58X and at the median of 1.15X.
Price-to-Book (P/B) Ratio (TTM)
Price-to-Book (P/B) Ratio (TTM)
4 Accident & Health Insurance Stocks in Focus
We are presenting two Zacks Rank #2 (Buy) stocks and two Zacks Rank #3 (Hold) stocks from the Zacks Accident and Health Insurance industry.
Aflac Incorporated: This Columbus, GA-based company offers voluntary supplemental health and life insurance products and operates through Aflac Japan and Aflac U.S. Aflac’s Argus buyout will provide it with a platform to build the company’s network of dental and vision products and further strengthen its U.S. segment.
AFL delivered a trailing four-quarter earnings surprise of 14.50% on average. The Zacks Consensus Estimate for 2024 earnings has moved 3 cents north in the past 30 days. The expected long-term earnings growth is pegged at 6.2%. The stock has gained 14.8% in a year. Aflac carries a Zacks Rank #2 currently.
Price and Consensus: AFL
Trupanion: Headquartered in Seattle, WA, this Zacks Rank #2 pet insurer is well-poised to grow, courtesy of a heightened focus on pets’ health and well-being in an underpenetrated pet insurance market, product launches, extended operating boundaries and a solid capital position. TRUP is poised well for growth in a total addressable market worth $34.1 billion. This pet insurer continues to invest in areas where it believes it can achieve high internal rates of return. Improving pricing should add to the upside.
The Zacks Consensus Estimate for 2024 has moved 2 cents north in the past 30 days and indicates a 57.7% year-over-year increase. The stock has lost 53.1% in a year.
Price and Consensus: TRUP
Employers Holdings: This Reno, NV-based provider of workers' compensation insurance to small businesses in the low-to-medium hazard industries carries a Zacks Rank #3. EIG should continue to benefit from a solid presence in attractive markets and prudent underwriting.
Employers Holdings delivered a trailing four-quarter earnings surprise of 26.50% on average. The Zacks Consensus Estimate for 2024 earnings indicates a 1.5% year-over-year increase. The stock has lost 5.5% in a year.
Price and Consensus: EIG
Unum Group: Chattanooga, TN-based Unum Group, carrying a Zacks Rank #3, provides long-term care insurance, life insurance, employer- and employee-paid group benefits and related services. The continued rollout of dental products and geographic expansion has been paying off as the acquired dental insurance businesses are growing in the United States and the United Kingdom.
The expected long-term earnings growth rate for Unum Group is 7.3%, better than the industry average of 6%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 1.8%. UNM delivered a trailing four-quarter earnings surprise of 5.62% on average. The stock has risen 12.7% in a year.
Price and Consensus: UNM
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https://www.zacks.com/commentary/2218077/4-accident-health-insurers-to-watch-as-underwriting-exposure-increases?-health-insurers-to-watch-as-underwriting-exposure-increases
| 2024-01-30T23:36:58Z
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What Caused the Regional Banking Crisis?
Eleven months ago, a regional banking crisis in the U.S. dominated the financial news. Initially, the abrupt surge in interest rates led to a swift decline in the worth of regional banking assets. With numerous mortgages issued at bargain basement rates below 4%, the subsequent spike to almost 7% in mortgage rates resulted in a significant devaluation of these previously granted mortgages. Next, two regional banks – Signature Bank of New York, First Republic Bank, and Silicon Valley Bank (SVB) collapsed. To compound the crisis and make matters worse, news of the collapses began to spread fears of an old-fashioned bank run while banks were confronted with the possibility that a large number of their depositors would simultaneously withdraw their funds. Finally, like in 2008, after several banks failed, the U.S. government stepped in via the Federal Deposit Insurance Corporation (FDIC) to protect deposits, fund acquisitions, and bail out the banking sector.
Bank Term Funding Program (BTFP) is Set to Come to an End
The controversial BTFP program is what stabilized these regional banks. The Federal Reserve website describes the program as follows: “The Bank Term Funding Program (BTFP) was created to support American businesses and households by making additional funding available to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. The BTFP offers loans of up to one year offers loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging any collateral eligible for purchase by the Federal Reserve Banks in open market operations such as U.S. Treasuries, U.S. agency securities, and U.S. agency mortgage-backed securities. The BTFP is an additional source of liquidity against high-quality securities, eliminating and institutions need to quickly sell those securities in times of stress.”
Last week, the Federal Reserve announced that the liquidity protection program will be terminated on March 11th. Does the end of BTFP spell more trouble for regional banks, or is the worst behind the sector? Below are 4 reasons I believe the worst is over for regional banks:
End of BTFP: Bad News is No News
Monitoring the price action of stocks is akin to noticing a subtle but valuable tell in poker. A bullish signal occurs when “Bad news is no news.” Theoretically, the Regional Bank ETF ((KRE - Free Report) ) should have fallen on January 24th when the Fed said they would sunset the BTFP program.
Image Source: TradingView
Market Projects Interest Rate Cuts Ahead
Remember, the root cause of the regional banking crisis is attributed to the unprecedented interest rate hikes by the Fed. The CME FedWatch tool analyzes the probabilities of changes in the Fed rate and U.S. monetary policy using 30-day Fed Funds futures pricing data. The FedWatch tool is pricing in an 82.6% chance that the Fed will cut interest rates as soon as May. Regional banks should rally ahead of time because markets discount the future.
Bullish Price Action
Two bullish clues appear on the KRE chart and charts of some of its top holdings like Zions Bancorp ((ZION - Free Report) ), Truist Financial Corp ((TFC - Free Report) ), and Western Alliance Bancorp ((WAB - Free Report) ), including:
· Golden Cross: Occurs when the 50-day moving average crosses above the 200-day moving average from below. A Golden Cross signal is evidence of a bullish trend change.
· 1st Tag of 10-week Moving Average: The 10-week zone represents an area of favorable reward-to-risk after a robust rally.
Image Source: TradingView
Valuations are Attractive
With the routing that occurred in the industry, several regional banking stocks have valuations at or near historic lows.
Image Source: Zacks Investment Research
Bottom Line
Though the Bank Term Funding Program (BTFB) is ending, there are four reasons to believe the worst is over for regional banking stocks. Look for them to be much higher 12 months from now.
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https://www.zacks.com/commentary/2218225/navigating-the-storm-how-regional-banks-weathered-the-crisis-and-why-the-worst-is-behind-them
| 2024-01-30T23:37:04Z
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Equinor ASA, (EQNR - Free Report) the Norwegian state-owned energy giant, announced a swap transaction with BP plc (BP - Free Report) , leading to Equinor's full ownership of the Empire Wind lease and projects in the United States.
Per the terms of the agreement, Equinor will gain 100% ownership of Empire Offshore Wind Holdings LLC and BP's 50% share of the South Brooklyn Marine Terminal lease. In return, BP will take over Beacon Wind Holdings LLC and become the operator of the Beacon Wind projects. The transaction is designed to be cash-neutral, accounting for standard settlements of cash and working capital items.
This move provides both Equinor and BP with the flexibility to pursue their respective priorities aligned with their corporate strategies. Equinor's extensive experience in offshore wind, spanning more than 20 years, positions it as a key player in the rapidly evolving U.S. offshore wind market. Pål Eitrheim, executive vice president of Renewables in Equinor, expressed the company's commitment to being a leader in the energy transition.
Following the agreement, Equinor submitted a bid for the Empire Wind 1 project in New York's fourth offshore wind solicitation round, closing on Jan 25, 2024. Additionally, Equinor has agreed with the New York State Energy Research and Development Authority to terminate the Offshore Wind Renewable Energy Certificate Purchase and Sale Agreement for the Beacon Wind 1 project.
Upon the transaction’s closing, Equinor will advance the Empire Wind projects on a 100% ownership basis, further solidifying its presence in the U.S. offshore wind market. Meanwhile, BP will take charge of the Beacon projects with full ownership.
According to Molly Morris, senior vice president for Renewables in the Americas at Equinor, Empire Wind 1 is poised to make a significant contribution to New York's climate and energy objectives. She highlighted the project's preparedness, citing the acquisition of permits and supplier contracts.
However, both Empire Wind 1 and 2 faced industry-wide macroeconomic challenges. While Empire Wind 1 bids in the NY4 solicitation, Empire Wind 2 will be matured for future rounds. The assets will be fully consolidated into Equinor's balance sheet upon closing, with a near-term reported capital expenditure increase of approximately $1.2 billion for 2024 and $1.5 billion for 2025.
A positive outcome in the NY4 solicitation is crucial for the development of Empire Wind 1, with a final investment decision expected in mid-2024. Equinor plans to use project financing and introduce a partner at the right time to enhance value and reduce ownership share and exposure.
The transaction, subject to regulatory approval, has an agreed effective date of Jan 1, 2024. It is expected to close in the second or third quarter of 2024. Equinor estimates a combined reported loss of $200 million, assuming a positive NY4 solicitation outcome, with no cash impact and effect on adjusted earnings.
Zacks Rank & Key Picks
Equinor currently carries a Zack Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Oceaneering International, Inc. (OII - Free Report) and Enbridge Inc. (ENB - Free Report) . While Oceaneering International sport a Zacks Rank #1 (Strong Buy), Enbridge carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Oceaneering International is a leading provider of integrated technology solutions, active at all phases of the offshore oilfield lifecycle. Its strong relationship with high-quality customers provides revenue visibility and business certainty. OII is well-positioned to supply equipment for deep-water projects.
Enbridge has an extensive oil and liquid pipeline system that spreads across 17,809 miles. A significant portion of the midstream operator’s earnings is generated from transportation operations, driven by a string of long-term contracts. ENB anticipates substantial cash flows from the recently completed midstream projects.
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https://www.zacks.com/stock/news/2217681/equinor-eqnr-takes-100-ownership-in-empire-wind-swap-with-bp
| 2024-01-30T23:37:10Z
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Cardinal Health, Inc. (CAH - Free Report) is scheduled to report second-quarter fiscal 2024 results on Feb 1, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 23.57%. CAH’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 15.67%.
Q2 Estimates
For the fiscal second quarter, the consensus mark for earnings is pegged at $1.57 per share, indicating an improvement of 18.9% from the prior-year quarter’s reported figure. The same for revenues is pinned at $56.82 billion, implying growth of 10.4% year over year.
Factors to Note
Cardinal Health's Pharmaceutical segment is one of the largest pharmaceutical distributors in the United States. In the first quarter of fiscal 2024, revenues from this segment amounted to approximately $51 billion, up 11% on a year-over-year basis. The performance reflects branded pharmaceutical sales growth in the Pharmaceutical Distribution and Specialty Solutions segment, whose profit was also up 18% in the first quarter. This momentum is likely to have continued in the fiscal second quarter. Moreover, rising demand for GLP-1 medications is likely to have acted as a tailwind.
The company’s generics program sales were also strong during the last reported quarter and its upcoming results are expected to gain from this trend.
These developments are likely to have favored CAH’s fiscal second-quarter performance. Moreover, new distribution centers might have helped alleviate supply-chain challenges.
For the Medical segment, a decrease in product and distribution volumes, as well as pricing, led to lower revenues in the previously reported quarter. Earnings were also hurt by net inflationary impacts.
However, the fiscal second-quarter results are likely to reflect a recovery in the Medical segment on the back of strong demand for at-Home Solutions. Operating profit might have benefited during the fiscal second quarter due to the timing of orders. The profit is estimated to be almost $400 million in fiscal 2024, which is likely to be reflected in the upcoming quarterly results.
In September 2023, Cardinal Health launched its next-generation Kangaroo OMNI enteral feeding pump in the United States to meet personalized needs. The company had launched its next-generation NTrainer System 2.0 in August, that will help in reducing the neonatal intensive care unit length of stay for premature and newborn infants. These launches are likely to have brought additional revenues during the soon-to-be-reported quarter. CAH is expected to provide an update on the uptake of these products on its fiscal second-quarter earnings call.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Cardinal Health this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here, as you will see below.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate ($1.53 per share) and the Zacks Consensus Estimate, is -2.28% for Cardinal Health.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: Cardinal Health currently carries a Zacks Rank #2.
Stocks Worth a Look
Here are a few medical stocks worth considering, as these have the right combination of elements to come up with an earnings beat this reporting cycle.
Dentsply Sirona (XRAY - Free Report) has an Earnings ESP of +6.43% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The stock has fallen 5.2% in the past year. XRAY’s earnings beat estimates in the last reported quarter. It has a trailing four-quarter average earnings surprise of 20.65%.
Merit Medical Systems (MMSI - Free Report) has an Earnings ESP of +3.68% and a Zacks Rank of 2 at present.
The stock has risen 15% in the past year. MMSI’s earnings beat estimates in the last reported quarter. It has a trailing four-quarter average earnings surprise of 14.41%.
AMN Healthcare Services (AMN - Free Report) has an Earnings ESP of +3.42% and a Zacks Rank of 3 at present.
The stock has fallen 22.3% in the past year. COO’s earnings beat estimates in the last reported quarter. It has a trailing four-quarter average earnings surprise of 12.66%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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https://www.zacks.com/stock/news/2217682/whats-in-store-for-cardinal-health-cah-in-q2-earnings?
| 2024-01-30T23:37:16Z
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Several large-cap Medical Product industry players have already announced fourth-quarter results. Of these, Intuitive Surgical, Elevance Health and ResMed’s earnings and sales beat their respective estimates. Abbot beat on revenue estimates while earnings were in line. Revenues and earnings improved for each of these companies from the prior-year period level on the back of recovering supply-chain issues and improving pricing. However, these players delivered mixed quarterly results with recovery in certain categories on a year-over-year basis. A similar trend is expected to be reflected in the results of other industry players.
Some major industry players like Stryker (SYK - Free Report) , Cencora, Inc. (COR - Free Report) and Accuray (ARAY - Free Report) are set to report their results tomorrow.
Q4 Preview and Scorecard
Per the latest Earnings Trends report, quarterly results of the Medical sector so far have improved year over year despite the ongoing macroeconomic headwinds in the form of worldwide geopolitical issues, inflationary pressure and unfavorable foreign exchange. Going by the broader Medical sector’s scorecard, 8.3% of the companies, constituting 25.9% of the sector’s market capitalization, reported earnings till Jan 24. Of these, 100% beat on earnings and 60% beat on revenues. Earnings improved 7.9% year over year on 3.3% higher revenues.
However, the overall fourth-quarter earnings of the Medical sector are expected to plunge 22.2% on 4.2% revenue growth. This compares with the third-quarter earnings decline of 16.7% on revenue growth of 6.6%.
Factors That Influenced MedTech Stocks
The Zacks-defined Medical Products companies might have faced a big negative impact from the ongoing economic challenges in and outside the United States during the fourth quarter. The U.S. dollar rose against several foreign currencies in the fourth-quarter months. This must have made currency issues worse for Medical Product companies that do international trade.
The profit margin of many stocks might have suffered from high unit costs and logistical problems, according to the industry-wide trend. The economic difficulties must have also reduced capital investments in the fourth quarter, impacting the sector's performance. The companies are accelerating their cost-reduction initiatives to cope with the rising costs.
Consumer preferences changed sharply due to the tight monetary policy. This, in turn, reduced the demand for non-essential MedTech products. This must have lowered the companies' revenues in the fourth quarter on a sequential basis.
On a positive note, the companies might have seen a strong recovery in their traditional businesses and testing demand in the fourth quarter. AI and robotics for the medical Internet of Things, which became popular during the pandemic, remained in demand.
Medical Products Stocks to Watch
Let's take a look at three Medical product companies that are scheduled to report fourth-quarter 2023 earnings on Jan 30, and find out how things might have shaped up prior to the announcements.
Stryker: Robust sales growth in the MedSurg and Neurotechnology segment on the back of robust performance of subsegments is likely to have continued in the fourth quarter. Heightened demand is expected to have contributed to the Orthopaedics & Spine segment's performance in the soon-to-be-reported quarter. Strong customer demand for its existing as well as new products is an added advantage. However, ongoing hospital staffing pressure and foreign currency movements are likely to have hurt its sales growth.
(Read more: Stryker to Report Q4 Earnings: What’s in the Cards?)
The Zacks Consensus Estimate for Stryker’s fourth-quarter 2023 revenues is pegged at $5.6 billion, indicating an increase of 7.7% from the year-ago reported figure. The Zacks Consensus Estimate for EPS of $3.27 indicates a 9% improvement from the year-ago reported figure.
Per our proven model, a stock with the combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a good chance of posting an earnings beat.
SYK currently has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Cencora: Sustained strong growth in specialty product sales, coupled with broad-based solid performance and utilization trends across the portfolio in the U.S. Healthcare Solutions segment, might have favored COR’s fiscal first-quarter performance. High demand for the recently approved GLP-1 drugs for diabetes and/or weight loss is likely to have boosted growth. Moreover, the new distribution center in California will continue to support its scale of supply.
The International Healthcare Solutions segment’s World Courier unit is expected to have exhibited a solid performance in the quarter under review. The addition of PharmaLex in 2023 is also likely to have brought additional revenues.
(Read more: Cencora to Report Q1 Earnings: What's in the Cards?)
The Zacks Consensus Estimate for Cencora’s first-quarter 2024 revenues is pegged at $68.81 billion, implying an improvement of 9.5% from the year-ago reported figure. The Zacks Consensus Estimate for first-quarter earnings is pinned at $2.85 per share, indicating an improvement of 5.2% year over year.
COR has an Earnings ESP of 0.00% and a Zacks Rank #2 at present.
Accuray: The company’s products have been registering robust customer adoption over the past few months. On its first-quarter fiscal 2024 earnings call in November, management confirmed that the company witnessed continued customer adoption of CyberKnife, Radixact and TomoTherapy platforms. Accuray also expanded its installed base of customers within the quarter to 1,040 systems, indicating 5% year-over-year growth. Per management, new order growth was also solid, which outpaced product revenue shipments. The trend is likely to have continued in the second quarter of fiscal 2024.
However, a volatile macroeconomic environment raises uncertainty. Inflationary pressure, coupled with costs to support launch of new products, is likely to have fueled operating expenses during the soon-to-be-reported quarter, thereby hurting margins.
The Zacks Consensus Estimate for Accuray’s second-quarter fiscal 2024 revenues is pegged at $107.1 million, indicating a decline of 6.7% from the year-ago reported figure. The Zacks Consensus Estimate for second-quarter earnings is pinned at a loss of 7 cents per share, indicating a year-over-year decline of 250%.
ARAY has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
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https://www.zacks.com/stock/news/2217683/medical-product-stocks-q4-earnings-due-on-jan-30-syk-more?-more
| 2024-01-30T23:37:22Z
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Alliance Resource Partners, L.P. (ARLP - Free Report) reported fourth-quarter 2023 operating earnings per unit (EPU) of 88 cents, which missed the Zacks Consensus Estimate of $1.14 by 22.8%. The bottom line also declined 46% from the year-ago quarter’s $1.63.
The firm reported full-year 2023 EPU of $4.81, up 9.6% from the previous year’s figure of $4.39.
Revenues
Total revenues were $625.4 million, which missed the Zacks Consensus Estimate of $673 million by 7.1%. The top line also decreased 11.2% from $704.2 million reported in the year-ago quarter.
The firm reported full-year 2023 revenues of $2,566.7 million, up 6.1% from the prior-year quarter’s figure of $2,420 million.
Highlights of the Release
The firm reported total operating expenses of $509.7 million, up 5.2% year over year. This was due to higher transportation expenses and outside coal purchases. However, operating expenses (excluding depreciation, depletion and amortization) totaled $356.6 million, down 5.8% year over year.
Income from operations amounted to $115.7 million, down 47.3% from the prior-year quarter’s reported figure.
The firm reported interest expense of $6.2 million compared with $9 million in the prior-year period.
Financial Highlights
Cash and cash equivalents totaled $59.8 million as of Dec 31, 2023, compared with $296 million as of Dec 31, 2022.
Long-term debt was $316.8 million as of Dec 31, 2023, compared with $397.2 million as of Dec 31, 2022.
Cash provided by operating activities for the year ended December 2023 was $830.6 million compared with $802.3 million in the year-ago period.
Guidance
Alliance Resource expects 2024 total sales in the range of 34-35.8 million short tons. Total coal sales price is expected to be in the band of $61.75-$63.75 per ton.
Total capital expenditures for 2024 are expected to be in the $450-$500 million range. Net interest expense is expected to be in the band of $20-$25 million.
Zacks Rank
Alliance Resource currently has a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Consol Energy (CEIX - Free Report) is slated to report fourth-quarter results on Feb 6, before market open. The Zacks Consensus Estimate for earnings is pegged at $4.28 per share, implying a year-over-year increase of 10%.
The Zacks Consensus Estimate for sales is pinned at $590.1 million, It delivered an average earnings surprise of 3.5% in the last four quarters.
Peabody Energy (BTU - Free Report) is slated to report fourth-quarter results on Feb 8, before market open. The Zacks Consensus Estimate for earnings is pegged at $1.41 per share.
The Zacks Consensus Estimate for sales is pinned at $1.24 billion, implying a year-over-year decrease of 24%.
Warrior Met Coal (HCC - Free Report) is slated to report fourth-quarter results on Feb 14, after market close. The Zacks Consensus Estimate for earnings is pegged at $3.16 per unit, implying a year-over-year increase of 66.3%.
The Zacks Consensus Estimate for sales is pinned at $416.3 million, It delivered an average earnings surprise of 3.4% in the last four quarters.
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https://www.zacks.com/stock/news/2217685/alliance-resource-arlp-q4-earnings-sales-miss-estimates?-sales-miss-estimates
| 2024-01-30T23:37:29Z
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Woodward, Inc (WWD - Free Report) reported adjusted net earnings of $1.45 per share for first-quarter fiscal 2024, which beat the Zacks Consensus Estimate by 31.8%. In the year-ago quarter, WWD reported adjusted net earnings of 49 cents.
Quarterly net sales increased 27% year over year to $787 million. Continued momentum in end market demand and improved operational performance resulted in this uptick. The top line beat the consensus estimate by 6.4%.
Post this announcement, the stock is up 5.8% in the pre-market trading hours on Jan 30. In the past year, shares of WWD have gained 39.6% compared with sub-industry’s growth of 10%.
Image Source: Zacks Investment Research
Segment Results
Aerospace: Net sales were $461 million, up 16% year over year. The upside can be attributed to higher commercial OEM and commercial aftermarket sales resulting from higher OEM production rates, improving passenger traffic and fleet utilization.
Defense OEM sales also improved due to higher ground vehicles and guided weapons sales. Defense aftermarket sales benefited from supply-chain stabilization and higher output. We predicted the metric to be $456.9 million.
Segmental earnings were $79 million, up from $55 million a year ago. Higher OEM sales and improved aftermarket volume resulted in the uptick.
Industrial: Net sales totaled $326 million, up 46% year over year due to higher demand across all markets, especially on-highway natural gas truck business in China. We expected the metric to be $268.5 million.
Demand for natural gas heavy-duty trucks in China increased due to a number of factors including a stable supply of natural gas, favorable LNG to diesel price spread and carbon reduction efforts across China. Sales for on-highway natural gas trucks in China came in at $75 million in the quarter under review. However, management does not expect higher sales to continue in fiscal second quarter as demand trends indicate return to earlier peak levels of $50 million.
Segmental earnings were $67 million, up from $11 million in the year-earlier quarter mainly due to increased demand for on-highway natural gas trucks in China and operational improvements (like higher output and other efficiency gains).
Other Details
Gross margin was up 560 basis points year over year to 26%.
Total costs and expenses increased to $677 million, up 15.4% year over year. Adjusted EBITDA was $148 million compared with $72 million a year ago.
Cash Flow & Liquidity
As of Dec 31, Woodward had $144.4 million in cash and cash equivalents with $653 million of long-term debt (less the current portion).
For the fiscal first quarter, WWD generated $47 million of net cash from operating activities, rising from $5 million in the prior-year quarter.
Adjusted free cash flow was $3 million. It recorded adjusted free cash outflow of $19 million in the prior-year quarter. The uptick was mainly due to increased earnings partly offset by the “above-target payout” for fiscal 2023 annual incentive compensation and higher capital expenditures.
Woodward did not repurchase any shares in the quarter under review. Management recently approved a new three-year stock repurchase program, allowing the company to buy back up to $600 million worth of its stock through open market or private transactions. This program replaces the prior two-year $800 million repurchase program, initiated in January 2022, during which WWD repurchased around $572 million in stock.
During the fiscal first quarter, the company paid dividends worth $13 million. Recently, it declared a dividend of 25 cents per share, up by about 14% compared with the previous quarter's 22 cents. This dividend will be paid on Mar 5, 2024, to shareholders as of Feb 20, 2024.
Fiscal 2024 Outlook
Net sales are now expected in the $3.15-$3.3 billion band. Earlier, net sales were forecast to be between $3.1 billion and $3.25 billion. The Zacks Consensus Estimate is pegged at $3.19 billion.
Adjusted free cash flow is projected to be between $300 million and $350 million (previous projection: in the range of $275-$325 million).
Earnings are suggested to be between $5.00 per share and $5.40 per share. Earlier, earnings per share were forecast between $4.75 and $5.20. The Zacks Consensus Estimate is pegged at $4.95.
Aerospace segment revenues are anticipated to increase in the range of 10-14%. Industrial segment revenues are expected to increase in the range of 8-10% compared with previous guided range of 4-6%.
Woodward currently flaunts a Zacks Rank #1 (Strong Buy).
Other Stocks to Consider
Other stocks worth consideration in the broader technology space are Watts Water Technologies (WTS - Free Report) , NETGEAR (NTGR - Free Report) and Blackbaud (BLKB - Free Report) . While NETGEAR currently sports a Zacks Rank #1, Watts Water and Blackbaud carry a Zacks Rank of 2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Watts Water Technologies’ 2023 EPS has improved by 1.1% in the past 60 days to $8.09. WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have jumped 23.9% in the past year.
The Zacks Consensus Estimate for 2023 is pegged at a loss of 9 cents per share for NETGEAR, which remained unchanged in the past 30 days. NTGR’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters while missing once. The average surprise was 127.5%. Shares of NTGR were down 25.7% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 EPS has improved by 1% in the past 60 days to $3.86. BLKB’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.6%. Shares of BLKB have gained 35.3% in the past year.
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https://www.zacks.com/stock/news/2217686/woodward-wwd-q1-earnings-revenues-top-estimates-rise-yy?-revenues-top-estimates,-rise-y/y
| 2024-01-30T23:37:35Z
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Enerplus Corporation (ERF - Free Report) released the production and operational results for the fourth quarter of 2023. The company’s production totalled 103,500 barrels of oil equivalent per day (boepd), which topped the high end of its guided range. Liquids production was reported at 67,100 barrels per day. The company’s prior projection for its total production was in the range of 95,000-99,000 barrels per day and the same for liquids production was in the band of 60,500-64,500 barrels per day.
Enerplus’ average annual production of 100,000 boepd also surpassed its guidance of 98,000-99,000 boepd. Liquids production amounted to 62,500 barrels per day, which surpassed its guidance of 60,500-61,500 barrels per day.
The capital expenditure for the fourth quarter totalled $91 million. Capital spending for full-year 2023 amounted to $532 million, well within guidance. The company also returned $106 million through repurchase of shares and in dividends. For the full year, ERF returned capital worth $307 million.
While Enerplus’ fourth-quarter operational results were stronger than anticipated, the company cautioned that severe cold weather conditions might negatively impact output during January-March 2024. Extremely low temperatures resulted in power outages and production disruptions in North Dakota. However, the volume impacted due to these has now been restored.
In the first quarter of 2024, the liquids production is anticipated to go down 2,000-3,000 barrels per day from the previously forecasted range. Despite the negative impact of the cold weather, Enerplus anticipates to deliver liquids production of approximately 64,000 barrels per day in 2024. Additionally, annual capital spending is estimated to be $550 million.
The company’s guidance for 2024 and the full-year 2023 report will be released on Feb 22.
Zacks Rank and Key Picks
Enerplus is an independent oil and gas company, headquartered in Canada. It owns resources across Western Canada and the United States. Currently, ERF carries a Zacks Rank #5 (Strong Sell).
Investors might want to look at some better-ranked stocks in the energy sector, such as Oceaneering International (OII - Free Report) , Vaalco Energy (EGY - Free Report) and Harbour Energy (HBRIY - Free Report) . While both Oceaneering International and Vaalco Energy currently sport a Zacks Rank #1 (Strong Buy), Harbour Energy holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Oceaneering International is a market-leading supplier of offshore equipment and technology solutions to the energy industry. The company has projected an increase in free cash flows for 2024. The bright outlook is supported by the growing market demand for its mobile robotic forklifts and underride vehicles.
Vaalco Energy is an independent energy company involved in upstream operation business with a diversified presence in Africa and Canada. With a large inventory of drilling locations in premium Canadian Acreage, its production outlook seems bright.
Harbour Energy is a leading independent oil and gas company, primarily involved in upstream operations. Upon completion of the recently announced acquisition of Wintershall Dea asset portfolio, its estimated production will increase to 500,000 boepd. The company has also done well in reducing its debt in the past year.
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https://www.zacks.com/stock/news/2217688/enerplus-erf-q4-production-outperforms-guidance
| 2024-01-30T23:37:41Z
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Helmerich & Payne (HP - Free Report) reported first-quarter fiscal 2024 adjusted net income of 97 cents per share, which beat the Zacks Consensus Estimate of 68 cents. The outperformance signifies a significant improvement in the company's International Solutions unit’s performance. However, the bottom line was lower than the year-ago quarter’s reported figure of $1.11. This was primarily due to the poor performance of the company's North America Solutions and Offshore Gulf of Mexico units.
Operating revenues of $659.6 million outpaced the Zacks Consensus Estimate of $658 million. Sales from the International Solutions unit totaled $54.8 million, which beat the consensus mark of $51 million. However, the figure decreased 3.6% from the year-ago quarter’s level.
In good news for investors, Helmerich & Payne is using the excess cash from a supportive environment to reward investors with dividends and buybacks. HP’s board of directors declared a quarterly cash dividend of 25 cents per share to its common shareholders of record as of Feb 13. The payout will be made on Feb 27. In addition to the regular dividend, HP declared a supplemental cash dividend of 17 cents per share.
During the fiscal third quarter, the company distributed around $90 million to shareholders, comprising $25 million in base dividends, $17 million in supplemental dividends and $47 million in share repurchases.
Segmental Performance
North America Solutions: Operating revenues of $594.3 million were down 5.2% year over year on lower activity levels, with the average number of active rigs at 149. The figure beat our projection of $575.2 million.
Operating profit totaled $144.5 million compared with $145.3 million in the prior-year period. The figure beat our estimate of $128.5 million. The decline in drilling activity levels during the quarter can be attributed to this underperformance.
Offshore Gulf of Mexico: Revenues of $25.5 million decreased 27.6% from the year-ago quarter’s level of $35.2 million. The figure also missed our projection of $28.9 million.
Operating profit totaled $3.1 million, down 53.7% from that recorded in the prior-year period. The figure also missed our estimate of $4.7 million.
International Solutions: Sales in this segment decreased 0.1% from the year-ago quarter’s level of $54.8 million. The figure beat our projection of $53.2 million.
Operating profit totaled $5.4 million compared with $1.6 million in the prior-year quarter. The figure also exceeded our projection of a loss of $5 million.
Financial Position
In the reported quarter, HP spent $136.4 million on capital programs. As of Dec 31, 2023, the company had $214.1 million in cash and cash equivalents, while the long-term debt totaled $545.3 million (debt-to-capitalization of 16.5%).
Guidance
For the second quarter of fiscal 2024, Helmerich & Payne expects operating gross margin to be in the range of $255-$275 million and $1-$3 million for North America Solutions and Offshore Gulf of Mexico, respectively. The company expects to exit the quarter with around 154-159 contracted rigs.
HP anticipates International Solutions' direct margins to be between $1 million and $3 million, exclusive of any foreign exchange gains or losses. The projected sequential decline is due to one less rig operating in Argentina and Colombia, and the costs associated with preparing rigs for export. The company also expects offshore Gulf of Mexico direct margins to be in the band of $4-$7 million.
Helmerich & Payne estimates capital outlay between $450 million and $500 million for 2024. The company projects depreciation and amortization expenses of $390 million, and research and development expenses of $30 million. General and administrative expenses are anticipated to be $230 million. Cash taxes are anticipated to be in the $150-$200 million range.
Zacks Rank and Key Picks
Currently, HP carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Sunoco LP (SUN - Free Report) and Oceaneering International, Inc. (OII - Free Report) , both sporting a Zacks Rank #1 (Strong Buy), and Enbridge Inc. (ENB - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Headquartered in Dallas, TX, Sunoco is valued at $5.85 billion. The company currently pays a dividend of $3.37 per share, or 5.78%, on an annual basis.
Sunoco, along with its subsidiaries, distributes and retails motor fuels in the United States. It operates under two segments — Fuel Distribution and Marketing and All Other.
Oceaneering International is worth $2.17 billion. In the past year, its shares have risen 4.1%.
The company provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries worldwide.
Enbridge is valued at $76.33 billion. The company currently pays a dividend of $2.6 per share, or 7.24%, on an annual basis.
Enbridge and its subsidiaries are an energy infrastructure company with five segments — Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation and Energy Services.
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https://www.zacks.com/stock/news/2217689/helmerich-payne-hp-q1-earnings-and-revenues-top-estimates?-payne-(hp)-q1-earnings-and-revenues-top-estimates
| 2024-01-30T23:37:47Z
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Huntington Ingalls Industries, Inc. (HII - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 1, before market open.
Huntington Ingalls delivered an average earnings surprise of 4.68% in the trailing four quarters. Mixed revenue performance across its business segments is expected to have had a moderate impact on HII’s overall fourth-quarter top line.
Ingalls: Anticipated Decline in Revenues
Higher revenues from surface combatants are likely to have contributed to this segment’s revenue performance in the fourth quarter. However, the upside might have been offset by lower revenues from the National Security Cutter program.
The Zacks Consensus Estimate for Ingalls’ fourth-quarter revenues is pegged at $646.7 million, indicating a decline of 1.7% from the year-ago quarter’s reported figure.
Newport News: Mixed Expectation
Higher revenues from aircraft carriers and submarines might have contributed to the Newport segment’s revenues in the soon-to-be-reported quarter.
However, lower volumes from aircraft carrier refueling and complex overhaul (RCOH) might have impacted the overall top-line performance of this unit.
Mission Technologies to Witness Growth Momentum
Higher volumes of mission-based solutions are likely to have aided Mission Technologies segment’s revenue performance in the fourth quarter of 2023.
The Zacks Consensus Estimate for Mission Technologies’ fourth-quarter revenues is pegged at $631.4 million, implying growth of 4.9% from the year-ago quarter’s reported figure.
Fourth-Quarter Estimates
Mixed sales expectations across HII’s business segments can be projected to have had a moderate impact on the company’s overall top line.
The Zacks Consensus Estimate for sales is pegged at $2.76 billion, indicating a decrease of 1.9% from the prior-year reported number.
Margin improvement in the majority of its segments is likely to have contributed to HII’s fourth-quarter bottom line. Also, gradually stabilizing supply-chain issues might have had favorably contributed to HII’s earnings performance amid persistent labor shortage challenges.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $4.27 per share, indicating an improvement of 39.1% from the prior-year reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Huntington Ingalls this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Huntington Ingalls has an Earnings ESP of -2.46% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Below are two defense stocks that have the right combination of elements to post an earnings beat this reporting cycle.
CAE Inc. (CAE - Free Report) is slated to release third-quarter fiscal 2024 results on Feb 14. CAE has an Earnings ESP of +7.18% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CAE delivered a four-quarter average earnings surprise of 15.97%. The consensus estimate for fiscal third-quarter earnings is pegged at 18 cents per share, while that for sales is pinned at $800.7 million.
Leidos (LDOS - Free Report) is scheduled to release fourth-quarter results on Feb 13. LDOS has an Earnings ESP of +1.88% and a Zacks Rank #2 at present.
Leidos delivered a four-quarter average earnings surprise of 11.51%. The Zacks Consensus Estimate for LDOS’ fourth-quarter earnings is pegged at $1.73 per share, while that for sales is pinned at $3.79 billion.
A Recent Defense Release
RTX Corporation’s (RTX - Free Report) fourth-quarter 2023 adjusted earnings per share of $1.29 beat the Zacks Consensus Estimate of $1.25 by 3.2%. The bottom line also improved 1.6% from the year-ago quarter’s level of $1.27.
RTX’s fourth-quarter adjusted sales totaled $19,824 million. The company reported GAAP sales of $19,927 million compared with $18,093 million in the fourth quarter of 2022.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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https://www.zacks.com/stock/news/2217690/will-segmental-sales-boost-huntington-ingalls-hii-q4-earnings?
| 2024-01-30T23:37:54Z
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Fate Therapeutics (FATE - Free Report) shares rallied 25.4% in the last trading session to close at $5.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.9% gain over the past four weeks.
This suuden rise in the stock price is attributable to positive investor sentiments towards the company’s early-stage cell therapy pipeline consisting of several cellular immunotherapies targeting cancer and aitoimmune disorders. Earlier this month, the company reported initiating a phase I study of FT825 to treat patients with HER2-expressing advanced solid tumors.
This clinical-stage biotech company that develops stem cell treatments is expected to post quarterly loss of $0.57 per share in its upcoming report, which represents a year-over-year change of +1.7%. Revenues are expected to be $0.84 million, down 98.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Fate Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FATE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Fate Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Regeneron (REGN - Free Report) , closed the last trading session 1.7% higher at $955.80. Over the past month, REGN has returned 7%.
Regeneron's consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $10.46. Compared to the company's year-ago EPS, this represents a change of -16.7%. Regeneron currently boasts a Zacks Rank of #1 (Strong Buy).
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https://www.zacks.com/stock/news/2217692/fate-therapeutics-fate-soars-254-is-further-upside-left-in-the-stock?
| 2024-01-30T23:38:00Z
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MSCI (MSCI - Free Report) came out with quarterly earnings of $3.68 per share, beating the Zacks Consensus Estimate of $3.29 per share. This compares to earnings of $2.84 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 11.85%. A quarter ago, it was expected that this maker of software tools to help portfolio managers make investment decisions would post earnings of $3.33 per share when it actually produced earnings of $3.45, delivering a surprise of 3.60%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
MSCI
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
MSCI shares have lost about 2.6% since the beginning of the year versus the S&P 500's gain of 3.3%.
What's Next for MSCI?
While MSCI has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for MSCI: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $3.51 on $672.2 million in revenues for the coming quarter and $14.73 on $2.8 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Business - Software Services is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Cognizant (CTSH - Free Report) , is yet to report results for the quarter ended December 2023. The results are expected to be released on February 6.
This information technology consulting and outsourcing firm is expected to post quarterly earnings of $1.04 per share in its upcoming report, which represents a year-over-year change of +3%. The consensus EPS estimate for the quarter has been revised 0.3% higher over the last 30 days to the current level.
Cognizant's revenues are expected to be $4.76 billion, down 1.6% from the year-ago quarter.
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https://www.zacks.com/stock/news/2217694/msci-msci-q4-earnings-and-revenues-top-estimates
| 2024-01-30T23:38:06Z
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Pfizer (PFE - Free Report) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of a loss of $0.19 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 152.63%. A quarter ago, it was expected that this drugmaker would post a loss of $0.32 per share when it actually produced a loss of $0.17, delivering a surprise of 46.88%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Pfizer
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Pfizer shares have lost about 4.6% since the beginning of the year versus the S&P 500's gain of 3.3%.
What's Next for Pfizer?
While Pfizer has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Pfizer: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.78 on $14.68 billion in revenues for the coming quarter and $2.21 on $60.41 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Large Cap Pharmaceuticals is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Merck (MRK - Free Report) , is yet to report results for the quarter ended December 2023. The results are expected to be released on February 1.
This pharmaceutical company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -92%. The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level.
Merck's revenues are expected to be $14.68 billion, up 6.2% from the year-ago quarter.
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https://www.zacks.com/stock/news/2217695/pfizer-pfe-surpasses-q4-earnings-estimates
| 2024-01-30T23:38:13Z
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Investing in China has always been a topic of interest for both local and international investors, given the country's rapid economic growth and dynamic markets. However, recent developments in China's real estate sector, the evolving global macroeconomic environment, and shifting monetary policies have left investors pondering whether China represents a value play or a potential value trap.
Evergrande Saga and Property Market Concerns
One of the most pressing concerns for investors is the court-ordered liquidation of China Evergrande Group, a property giant. This development has sent ripples through China's fragile property market, causing uncertainty among investors. The fate of Evergrande and its impact on the broader economy remain uncertain, making it a major point of concern for those considering investments in China.
This incident serves as a reminder of the risks associated with investing in China's real estate sector. The challenges facing the sector in its road to recovery further add to the uncertainty.
Monetary Policy and Economic Trends
In a bid to shore up the struggled property sector, China's central bank, the People's Bank of China (PBOC), recently announced a reduction in reserve ratio requirements for banks in an effort to boost its struggling economy.
This move, the first reduction in 2024 after two cuts the previous year, is aimed at increasing the capacity for lenders to extend loans and stimulate economic growth. Furthermore, the PBOC has signaled that there is room for further monetary policy easing.
The PBOC's actions, combined with China's post-Covid economic recovery challenges, suggest that the gap between U.S. and Chinese monetary policy cycles is narrowing. This change in the external environment can impact the attractiveness of investing in China compared to other global markets.
Stock Market Performance
China's stock markets have witnessed fluctuations in recent months. The dwindling performances of Chinese indexes reflect the complex and ever-changing nature of China's investment landscape. It is crucial for investors to carefully assess the risks and rewards before making investment decisions.
Global Macroeconomic Factors and Geopolitical Tensions
Investor sentiment in China is also influenced by global macroeconomic factors and geopolitical tensions. The U.S. Federal Reserve's monetary policy decisions, including the possibility of rate cuts, have a significant impact on the attractiveness of the U.S. dollar and its assets, affecting international investments, including those in China.
Additionally, rising geopolitical tensions in the Middle East have created uncertainty in global markets. Events such as the U.S. drone attack in Jordan and Qatar's concerns about regional security can influence risk sentiment and investor behavior.
China Investing: A Value Play or Value Trap?
The decision of whether China represents a value play or a potential value trap ultimately depends on an individual investor's risk tolerance and investment horizon. However, as with any investment, diversification and a long-term perspective can help mitigate risks and capitalize on opportunities.
ETFs in Focus
Below we highlight a few China ETFs that have relatively low P/E ratio and have chances of outperformance if held for the longer period of time.
iShares MSCI China Multisector Tech ETF (TCHI - Free Report) – P/E: 14.06X; Yield: 4.7% annually
iShares MSCI China A ETF (CNYA - Free Report) – P/E:14.74X; Yield: 4.40% annually
Global X MSCI China Consumer Staples ETF (CHIS - Free Report) – P/E: 20.21X; Yield: 3.51% annually
iShares MSCI China ETF (MCHI - Free Report) – P/E: 10.89X; Yield: 3.73% annually
iShares China Large-Cap ETF (FXI - Free Report) – P/E: 10.62X; Yield: 3.36% annually
SPDR S&P China ETF (GXC - Free Report) – P/E: 10.38X; Yield: 3.93% annually
(Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.)
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iShares MSCI China Multisector Tech ETF (TCHI) - free report >>
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https://www.zacks.com/stock/news/2217697/china-etfs-value-play-or-value-trap?
| 2024-01-30T23:38:19Z
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Charter Communications (CHTR - Free Report) is set to report its fourth-quarter 2023 results on Feb 2.
The Zacks Consensus Estimate for fourth-quarter 2023 revenues is pegged at $13.72 billion, indicating a 0.34% increase from the year-ago quarter’s reported figure.
The consensus mark for earnings dropped 0.1% to $8.93 per share in the past 30 days, suggesting a decline of 12.5% from the figure reported in the year-ago quarter.
CHTR’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the negative surprise being 0.05%, on average.
Let’s see how things are shaping up for the upcoming announcement.
Factors to Consider
Charter Communications’ strategic investments in network infrastructure and fiber-optic construction, particularly through Spectrum's expanding network, are likely to have contributed to CHTR’s prospects in the to-be-reported quarter.
Continuous enhancements in the company's Spectrum One network have been a major growth driver. Third-quarter total residential and SMB mobile lines increased by 594K. As of Sep 30, 2023, Charter Communications served a total of 7.2 million mobile lines. The momentum is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for mobile lines’ net additions in the fourth quarter is pegged at 570K.
The company’s total residential revenues are likely to reflect a strong momentum in its mobile service segment, partly offset by lower voice and video revenues. A higher mix of non-video customers and growth of lower-priced video packages is expected to have kept the top line under pressure.
In the to-be-reported quarter, Charter Communications’ Spectrum launched Spectrum SportsNet+, a direct-to-consumer streaming subscription service that delivers a 24/7 feed of its SportsNet programming.
The Zacks Consensus Estimate for total residential revenues is pegged at $10.78 billion, indicating 5% year-over-year growth. The consensus mark for total residential customer relationships is pegged at 30.015 million, indicating a rise of 0.1% year over year.
The top-line growth in the to-be-reported quarter is expected to have been affected by the increasing competition in the cable space and sluggish Internet subscribers’ addition rate.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Charter Communications has an Earnings ESP of -11.55% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release.
Meta Platform (META - Free Report) has an Earnings ESP of +0.51% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meta Platform is set to announce fourth-quarter 2023 results on Feb 1. META’s shares have jumped 23.7% in the past six months.
Bill Holdings (BILL - Free Report) has an Earnings ESP of +6.17% and a Zacks Rank #3 at present.
Bill Holdings is slated to announce second-quarter fiscal 2024 results on Feb 8. BILL’s shares have plunged 40.7% in the past six months.
Twilio (TWLO - Free Report) has an Earnings ESP of +31.37% and a Zacks Rank #2 at present.
Twilio is scheduled to announce fourth-quarter 2023 results on Feb 14. TWLO’s shares have gained 8.9% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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https://www.zacks.com/stock/news/2217706/whats-in-store-for-charter-communications-chtr-q4-earnings?
| 2024-01-30T23:38:25Z
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Pentair plc (PNR - Free Report) came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 1.16%. A quarter ago, it was expected that this company would post earnings of $0.87 per share when it actually produced earnings of $0.94, delivering a surprise of 8.05%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Pentair plc
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Pentair plc shares have added about 0.8% since the beginning of the year versus the S&P 500's gain of 3.3%.
What's Next for Pentair plc?
While Pentair plc has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Pentair plc: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.98 on $1.04 billion in revenues for the coming quarter and $4.22 on $4.25 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Thermal Products is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Zebra Technologies (ZBRA - Free Report) , has yet to report results for the quarter ended December 2023. The results are expected to be released on February 15.
This producer of printers for bar codes, plastic cards and, radio-frequency identification tags is expected to post quarterly earnings of $1.63 per share in its upcoming report, which represents a year-over-year change of -65.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Zebra Technologies' revenues are expected to be $992.63 million, down 34% from the year-ago quarter.
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https://www.zacks.com/stock/news/2217707/pentair-plc-pnr-q4-earnings-and-revenues-surpass-estimates
| 2024-01-30T23:38:31Z
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Johnson Controls (JCI - Free Report) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2%. A quarter ago, it was expected that this diversified technology and industrial company would post earnings of $1.09 per share when it actually produced earnings of $1.05, delivering a surprise of -3.67%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Johnson Controls
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Johnson Controls shares have lost about 1.7% since the beginning of the year versus the S&P 500's gain of 3.3%.
What's Next for Johnson Controls?
While Johnson Controls has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Johnson Controls: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.77 on $6.93 billion in revenues for the coming quarter and $3.66 on $28.07 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Security and Safety Services is currently in the top 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Napco (NSSC - Free Report) , is yet to report results for the quarter ended December 2023.
This security products and software company is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of +13%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Napco's revenues are expected to be $44.05 million, up 4.1% from the year-ago quarter.
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https://www.zacks.com/stock/news/2217709/johnson-controls-jci-q1-earnings-surpass-estimates
| 2024-01-30T23:38:38Z
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Cambridge (CATC - Free Report) came out with quarterly earnings of $1.11 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $1.92 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 20.65%. A quarter ago, it was expected that this bank would post earnings of $1.06 per share when it actually produced earnings of $1.15, delivering a surprise of 8.49%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Cambridge
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Cambridge shares have added about 4.2% since the beginning of the year versus the S&P 500's gain of 3.3%.
What's Next for Cambridge?
While Cambridge has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Cambridge: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.85 on $37.15 million in revenues for the coming quarter and $3.71 on $154.3 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, HarborOne Bancorp (HONE - Free Report) , has yet to report results for the quarter ended December 2023.
This bank holding company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -23.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
HarborOne Bancorp's revenues are expected to be $42.11 million, down 14.2% from the year-ago quarter.
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https://www.zacks.com/stock/news/2217713/cambridge-catc-beats-q4-earnings-and-revenue-estimates
| 2024-01-30T23:38:44Z
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Enphase Energy, Inc. (ENPH - Free Report) recently commenced shipment of its new IQ8 microinverters, IQ8HC and IQ8X, with a peak output power of 384 watts (W), in North America’s solar market. These microinverters will support high-powered solar modules.
The IQ8HC microinverters are now available in the whole of North America, while the IQ8X is available in the United States.
Significance of IQ8 Microinverters
Enphase Energy’s two new microinverters can seamlessly pair with a full range of solar modules up to 540W Direct Current (DC). The IQ8HC can manage a continuous DC of 14 amperes, thereby supporting high-powered solar modules. The IQ8X supports solar modules with higher output DC voltage and cell counts, such as 96 cells, 80 half-cut cells and 88 half-cut cells.
For all IQ8 Microinverters activated in the United States and Canada, an industry-leading 25-year warranty is available while for those activated in Mexico, a 12-year warranty is offered.
Growth Prospects
The Global solar market provides significant growth opportunities, primarily driven by various government policies, declining prices of solar panels and rising adoption of alternate clean power sources. Per a report from the Mordor Intelligence firm, the solar energy market size in terms of installed base is expected to go from 1.84 Thousand gigawatts (GWs) in 2024 to 5.08 Thousand GWs by 2029, at a CAGR of 28.82% during the 2024-2029 period.
Considering such abounding growth prospects offered by the global solar market and North America constituting a major portion of this market, the introduction of Enphase microinverters should aid the company in generating solid revenues in the coming years.
Peers to Benefit
Other prominent players like Canadian Solar Inc. (CSIQ - Free Report) , SolarEdge Technologies Inc. (SEDG - Free Report) and Emeren Group Ltd. (SOL - Free Report) are also expanding their footprint to reap the benefits of the global solar market’s prospects.
In December 2023, Canadian Solar’s e-STORAGE launched SolBank 3.0, which is the latest iteration of its utility-scale energy storage system. The company expects solar PV installations to reach 5 terawatts (TWs) by 2030 and the battery energy storage cumulative capacity installations to reach 1 TW-hour by 2028.
The Zacks Consensus Estimate for 2024 sales implies an improvement of 20.2% from the prior-year estimated number. The stock delivered an average earnings surprise of 67.89% in the last four quarters.
SolarEdge launched the high-power, three-phase SolarEdge 330kW Inverter and its complementing H1300 Power Optimizer in the United States in September 2023. During the third-quarter 2023, it shipped more than 3.8 GW of inverters. The United States accounted for 28.9% of the company’s total revenues during the previous reported quarter.
SEDG has a long-term (three-to-five years) earnings growth rate of 16.4%. Its shares have risen 65.4% in the past five years.
As of Sep 30, 2023, Emeren Group had a global solar development pipeline of 7,762 megawatts (MWs) and a storage project pipeline of 17,282 MW-hour. On Jan 9, 2024, the company acquired a 10.76 MWh energy storage power portfolio in China, comprising six energy storage power stations.
The Zacks Consensus Estimate for SOL’s fourth-quarter 2023 sales implies an increase of 24.6% from the year-ago figure. The Zacks Consensus Estimate for fourth-quarter 2023 earnings implies an improvement of 33.3% from the prior-year quarter’s recorded number.
Price Performance
In the past three months, shares of ENPH have rallied 37.2% compared with the industry’s 8.4% increase.
Image Source: Zacks Investment Research
Zacks Rank
Enphase currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
See More Zacks Research for These Tickers
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Canadian Solar Inc. (CSIQ) - free report >>
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https://www.zacks.com/stock/news/2217715/enphase-enph-unveils-iq8-microinverters-in-north-america
| 2024-01-30T23:38:50Z
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Malibu Boats (MBUU - Free Report) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $1.83 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 11.76%. A quarter ago, it was expected that this maker of performance sports boats would post earnings of $0.90 per share when it actually produced earnings of $1.13, delivering a surprise of 25.56%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Malibu Boats
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Malibu Boats shares have lost about 6.9% since the beginning of the year versus the S&P 500's gain of 3.3%.
What's Next for Malibu Boats?
While Malibu Boats has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Malibu Boats: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.63 on $297.47 million in revenues for the coming quarter and $5.33 on $1.1 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Leisure and Recreation Products is currently in the bottom 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Pool Corp. (POOL - Free Report) , is yet to report results for the quarter ended December 2023.
This distributor of supplies for swimming pools is expected to post quarterly earnings of $1.26 per share in its upcoming report, which represents a year-over-year change of -29.6%. The consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level.
Pool Corp.'s revenues are expected to be $1.02 billion, down 7.1% from the year-ago quarter.
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https://www.zacks.com/stock/news/2217718/malibu-boats-mbuu-tops-q2-earnings-estimates
| 2024-01-30T23:38:57Z
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Affiliated Managers Group Inc. (AMG - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 5, before the opening bell. Its quarterly earnings and revenues are expected to have declined in the quarter on a year-over-year basis.
In the last reported quarter, the company’s earnings outpaced the Zacks Consensus Estimate. Results benefited from lower expenses, partly offset by a decline in the assets under management (AUM) balance and revenues.
The company boasts an impressive earnings surprise history. Its earnings surpassed the consensus estimate in each of the trailing four quarters, the average beat being 4.36%.
The Zacks Consensus Estimate for AMG’s fourth-quarter earnings is pegged at $5.92, which has moved 5% north over the past month. The figure indicates an 18.7% decline from the year-ago quarter’s reported number. Our estimate for economic earnings per share stands at $5.54.
The company expects economic net income (controlling interest) of $191-$210 million. Economic earnings per share is predicted to be between $5.43 and $5.96.
The consensus estimate for sales is pegged at $532 million, indicating a 1.4% year-over-year fall. Our estimate for total revenues is pegged at $532.6 million.
Other Key Expectations for Q4
Management expects adjusted EBITDA to be in the $260-$285 million range based on the current AUM levels, net performance fee earnings of up to $75-$100 million and the partial quarter contribution from Forbion. Our estimate for adjusted EBITDA is $265.9 million.
Interest expenses are expected to be $31 million. We expect interest expenses of $31.6 million.
Controlling interest depreciation is likely to be $2 million.
Net income (controlling interest) is expected to be between $145 million and $163 million. We anticipate the metric to be $148.1 million.
The company’s share of reported amortization and impairments is estimated to be $30 million. Our estimate for the metric is $30.1 million.
Intangible-related deferred taxes are projected to be $15 million. Our estimate for the metric is the same as the company guidance.
Other economic items, which now include realized gains, are anticipated to be roughly $2 million.
Earnings Whispers
Our quantitative model doesn’t conclusively predict an earnings beat for Affiliated Managers this time. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or higher.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Affiliated Managers is 0.00%.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are a couple of asset managers that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time:
The Earnings ESP for SEI Investments Company (SEIC - Free Report) is +0.64% and carries a Zacks Rank #1 (Strong Buy) at present. The company is scheduled to report fourth-quarter and full-year 2023 results on Jan 31.
Over the past 30 days, the Zacks Consensus Estimate for SEIC’s quarterly earnings has moved 3.4% north to 91 cents per share.
T. Rowe Price Group, Inc. (TROW - Free Report) is scheduled to release quarterly numbers on Feb 8. The company has an Earnings ESP of +1.33% and carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
TROW’s quarterly earnings estimates have been revised upward by 7.4% to $1.60 over the past month.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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https://www.zacks.com/stock/news/2217723/affiliated-managers-amg-to-post-q4-earnings-whats-in-store?
| 2024-01-30T23:39:03Z
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Investors are always looking for stocks that are poised to beat at earnings season and Automatic Data Processing, Inc. (ADP - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Automatic Data Processing is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for ADP in this report.
In fact, the Most Accurate Estimate for the current quarter is currently higher than the broader Zacks Consensus Estimate of $2.10 per share. This suggests that analysts have very recently bumped up their estimates for ADP, giving the stock a Zacks Earnings ESP of +0.21% heading into earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that ADP has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Automatic Data Processing, and that a beat might be in the cards for the upcoming report.
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https://www.zacks.com/stock/news/2217728/should-you-buy-automatic-data-processing-adp-ahead-of-earnings?
| 2024-01-30T23:39:09Z
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For most investors, how much a stock's price changes over time is important. This factor can impact your investment portfolio as well as help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in Chipotle Mexican Grill (CMG - Free Report) ten years ago? It may not have been easy to hold on to CMG for all that time, but if you did, how much would your investment be worth today?
Chipotle Mexican Grill's Business In-Depth
With that in mind, let's take a look at Chipotle Mexican Grill's main business drivers.
A Delaware corporation, Chipotle Mexican Grill, together with its subsidiaries, operates quick-casual and fresh Mexican food restaurant chains. The company was founded in 1993 by Steve Ells, who started with a single restaurant in Denver, CO. The company offers a focused menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. Chipotle restaurants feature free-range, hormone-free pork, natural chicken and other meat products cooked using traditional methods and served in a unique atmosphere.
The company is committed to using high-quality real ingredients, classic cooking techniques and distinctive interior design to serve customers. As of Sep 30, 2023, the company owned and operated about 3,321 restaurants across the United States, Canada, the U.K., France and Germany.
The company’s growth is significantly driven by its digital platform. It has enhanced its capabilities by digitizing restaurant kitchens, expanding partnerships with third-party delivery services, and increasing the number of Chipotlanes (drive-through format for customer pick-up of digital orders). Digital sales, encompassing revenue generated through the Chipotle website, Chipotle app, or third-party delivery aggregators, which also includes revenue deferrals linked to Chipotle Rewards, constituted 39.4% of food and beverage revenue in 2022, compared to 45.0% in 2021. The company has facilitated convenient digital ordering through enhancements to the Chipotle app and website, including unlimited customization, contactless delivery, and group ordering.
The company utilizes multiple marketing channels, including national television, digital marketing, social media, fundraising, events and sponsorships to reach consumers. Third-party service providers mostly provide delivery services.
In 2018, Chipotle launched a loyalty program called Chipotle Rewards, which provides customers with the opportunity to earn bonus points or free food. Earned rewards generally expire one to six months after they are issued and points typically expire if an account is inactive for six months.
Bottom Line
Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in Chipotle Mexican Grill ten years ago, you're likely feeling pretty good about your investment today.
A $1000 investment made in January 2014 would be worth $4,962.91, or a gain of 396.29%, as of January 30, 2024, according to our calculations. This return excludes dividends but includes price appreciation.
The S&P 500 rose 177.76% and the price of gold increased 57.24% over the same time frame in comparison.
Analysts are forecasting more upside for CMG too.
Shares of Chipotle have outperformed the industry in the past year. The company benefits from its digital efforts, Chipotlane add-ons and marketing initiatives. This and strength in digital sales, a rise in menu prices and new restaurant openings have been driving the company. Also, a strong comparable restaurant sales growth bodes well. Going forward, it continues to focus on the stage gate process and leveraging digital programs to expand access and convenience. Earnings estimates for 2024 have increased in the past 30 days, depicting analysts optimism regarding the stock growth potential. However, supply chain challenges, elevated wage inflation and expenses associated with new menus remain headwinds. For fourth-quarter 2023, the company anticipates the cost of sales to be around 30%.
The stock is up 5.14% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 6 higher, for fiscal 2023. The consensus estimate has moved up as well.
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https://www.zacks.com/stock/news/2217730/heres-how-much-youd-have-if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago
| 2024-01-30T23:39:16Z
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How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in Amazon (AMZN - Free Report) ten years ago? It may not have been easy to hold on to AMZN for all that time, but if you did, how much would your investment be worth today?
Amazon's Business In-Depth
With that in mind, let's take a look at Amazon's main business drivers.
Amazon.com is one of the largest e-commerce providers, with sprawling operations in North America, now spreading across the globe.
Its online retail business revolves around the Prime program well-supported by the company’s massive distribution network. Further, the Whole Foods Market acquisition helped Amazon establish footprint in physical grocery supermarket space.
Amazon also enjoys dominant position in the cloud-computing market, particularly in the Infrastructure as a Service (IaaS) space, thanks to Amazon Web Services (AWS), which is one of its high-margin generating businesses.
Amazon has also become a household name with its Alexa powered Echo devices. Artificial Intelligence (AI) backed Alexa is helping the company sell products and services.
Revenues were $513.98 billion in 2022. The company reports revenue under three broad heads—North America, International and AWS, which generated 61.5%, 23% and 15.6% of total revenues, respectively.
Headquartered in Seattle, WA, Amazon targets three categories of customers—consumers, sellers and website developers. Consumers are offered variety, convenience and free delivery of goods displayed on the company’s websites.
The agreements with sellers are varied, enabling them to use the company’s websites to either sell their merchandise directly, or redirect customers to the sellers’ own branded websites. In case of the latter arrangement, Amazon earns a fee for the sales thus generated.
Competition comes in the form of traditional retailers, other online retailers, media companies, web portals, search engines, e-commerce companies and cloud computing service providers.
Bottom Line
Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in Amazon ten years ago, you're likely feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in January 2014 would be worth $8,394.59, or a gain of 739.46%, as of January 30, 2024, and this return excludes dividends but includes price increases.
The S&P 500 rose 177.76% and the price of gold increased 57.24% over the same time frame in comparison.
Analysts are anticipating more upside for AMZN.
Amazon’s shares have outperformed the industry over a year. The company is gaining on solid Prime momentum owing to ultrafast delivery services and strong content portfolio. Strengthening relationship with third-party sellers is a positive. Additionally, strong adoption rate of AWS is aiding the company’s cloud dominance. Expanding AWS services portfolio is continuously helping Amazon in gaining further momentum among the customers. Robust Alexa skills and expanding smart home products portfolio are positives. The company’s strong global presence and solid momentum among the small and medium businesses remain tailwinds. Considering the abovementioned facts, we expect 2023 revenue to be up 10.8% from 2022. However, inflationary pressure, geopolitical tensions and foreign currency headwinds remain concerns.
Shares have gained 6.13% over the past four weeks and there have been 5 higher earnings estimate revisions for fiscal 2023 compared to none lower. The consensus estimate has moved up as well.
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https://www.zacks.com/stock/news/2217731/heres-how-much-a-1000-investment-in-amazon-made-10-years-ago-would-be-worth-today
| 2024-01-30T23:39:22Z
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