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5 things to do this week: Comedy show, Sleigh and Cutter Day, toy show and more
Published 6:43 pm Monday, January 29, 2024
By Ayanna Eckblad
1
Groundhog Day Comedy Show
Come to the American Legion Post 56 at 8 p.m. Friday for a night of Groundhog Day fun. Bad Credit Comedy is bringing a hilarious lineup of stand-up comedians and will be headlined by veteran Trevor Clumpner. Tickets are $10.
2
Sleigh and Cutter Day
It’s the second annual Freeborn County Sleigh and Cutter Day at 11 a.m. Saturday at the Freeborn County Fairgrounds. Come have some fun riding sleighs and warm up in the Fairlane building. There will be refreshments and learning stations inside. The fair board will be there selling season fair passes, and there will be a free donation for the sleigh rides.
3
Toy Show and Mid-Winter Flea Market
Stop over at Skyline Plaza from 9 a.m. to 4 p.m. Saturday and Sunday for the Toy Show and Mid-Winter Flea Market. Items sold will include toys, antiques, collectibles, handmade gifts and goodies, comics, original art, jewelry, vintage clothing and more.
4
Indoor ‘ice fishing’ contest
Participate in a contest where the fish are guaranteed to bite. Lost Marsh Ducks Unlimited is hosting an indoor “ice fishing” contest at Nasinec Event Center in Wells at 2 p.m. Saturday. There will be prizes for the biggest three fish of each species and the smallest fish of each species. There will also be raffles and a silent auction for guns, gear, Ducks Unlimited merchandise and coolers. Food and drinks will be available for purchase. Space is limited and registration is open online now at MNDU.org.
5
Share the Love Month
During the month of February, visitors to the Freeborn County Historical Museum, Library and Village are invited to share their love for history by leaving a paper Valentine heart next to their favorite exhibit at the museum.They can also share their love for their favorite exhibit by sharing it on social media @fchmhistory #FCHMhistory. The opening day for the Share the Love Month is at 10 a.m. Thursday, and paper hearts will be available at the welcome desk. | https://www.albertleatribune.com/2024/01/5-things-to-do-this-week-comedy-show-sleigh-and-cutter-day-toy-show-and-more/ | 2024-01-30T00:56:08Z | blocked_url |
Man who stole ‘Wizard of Oz’ ruby slippers avoids prison time
Published 6:49 pm Monday, January 29, 2024
By Dan Kraker, Minnesota Public Radio News
A federal judge Monday told the man who stole a pair of the iconic ruby red slippers slippers worn in the classic film “The Wizard of Oz” that his crime was “extraordinary in its stupidity, selfishness and impact,” yet he did not sentence him to any prison time because the thief is terminally ill.
Chief U.S. District Judge Patrick Schiltz said he agreed to the sentencing recommendation from both the U.S. Justice Department and the attorney for 76-year old Terry Jon Martin because he likely only has a couple months to live.
The judge also noted that Martin did not commit any other crimes since he stole the slippers from the Judy Garland Museum in the late actor’s hometown of Grand Rapids in 2005.
Schiltz did order to Martin to pay $300 a month to the museum in restitution.
Martin appeared at the federal courthouse in Duluth wearing a blue flannel shirt, with a mask and oxygen tank that he needs to breathe at all times. His attorney, Dane DeKrey, pushed him in a wheelchair.
In arguing for a “time served” sentence, DeKrey argued that for a “significant length of time, Terry had no idea what happened to the slippers.”
When Martin stole the slippers while they were on loan to the museum in Grand Rapids, he believed they were made of real gemstones. After he discovered they were made of plastic and glass, DeKrey said, he told his accomplice he didn’t want them anymore. He held them for less than 48 hours.
Martin didn’t understand the cultural value they held, as one of four surviving pairs of shoes worn by Judy Garland during the filming of ‘Oz’ in 1939. The FBI says they are valued at several million dollars.
DeKrey acknowledged that his client refused to identify other people involved in the crime. Still, he argued that Martin’s confession provided some closure to both the government and to the Judy Garland Museum.
“He didn’t confess out of the goodness of his heart. But he did confess. He could have taken this to his grave. That would have resulted in zero closure,” DeKrey told the judge.
The FBI recovered the slippers in a sting operation in Minneapolis in 2018, when someone tried to claim insurance money.
After that extortion attempt, the FBI learned that Martin had extensive phone contact with people who were involved in that investigation, said government attorney Michael Greenley.
Martin’s extensive criminal history — the slipper heist was his 14th felony conviction — coupled with the fact he lived only 12 miles south of Grand Rapids, led the FBI to Martin, Greeley said.
After the theft, the Judy Garland Museum suffered financially for several years, founding director and current curator John Kelsch told the judge. He said the museum could no longer borrow world-class pieces, and had to sell about $250,000 in assets to stay afloat.
“Our credibility as a museum was gone. It was very hard to get that back,” said current executive director Janie Heitz.
Kelsch and Heitz said the slippers are currently under the protection of an auction house. They said the slipper’s owner, collector Michael Shaw, plans to sell the slippers after taking them on a worldwide tour.
After the hearing, Kelsch said there is a sense of relief in having his name cleared. For years he said some people suspected he was involved in the crime.
Now, he said people want to know where the slippers were for more than 12 years after they were stolen, before the FBI recovered them.
“We’re happy no one will be talking about an inside job anymore,” Kelsch said. “So that’s a good feeling. But the mystery still remains. I guess there’ll be books written and movies made. The story will go on. There is no closure in that regard.” | https://www.albertleatribune.com/2024/01/man-who-stole-wizard-of-oz-ruby-slippers-avoids-prison-time/ | 2024-01-30T00:56:14Z | blocked_url |
Trooper charged with murder of Ricky Cobb II makes first court appearance
Published 6:46 pm Monday, January 29, 2024
By Jon Collins, Minnesota Public Radio News
A Minnesota State Patrol trooper charged with murder and manslaughter for a fatal shooting during a traffic stop last year appeared in Hennepin County District Court on Monday afternoon.
Trooper Ryan Londregan was charged last week by Hennepin County Attorney Mary Moriarty for the killing of 33-year-old Ricky Cobb II last July during a traffic stop.
Londregan appeared in court Monday and acknowledged the charges read to him by a judge. He was not required to post bail but as a part of his conditions of release Londregan agreed to turn over his passport, have no contact with Cobb’s family, not transport any firearms and he agreed to obey all laws and show up for future court appearances.
Londregan, wearing a dark suit and red tie, only spoke when asked to say his name and then to tell the judge he didn’t have any more questions about the process.
The courtroom was packed with dozens of Londregan supporters as well as a smaller number of Cobb supporters. There weren’t any disruptions.
Outside the building, Londregan’s attorney Chris Madel continued his criticism of Hennepin County Attorney Mary Moriarty. He questioned why Moriarty didn’t consult with a use of force expert before she decided to file charges.
”Standing behind me is about 100 different current and former police officers,” he said. “here’s a bunch of use of force experts, all she needs to do is email me and I’ll hook her up with one.”
Londregan is charged with second-degree unintentional murder, first-degree assault and second-degree manslaughter.
Cobb was pulled over by another trooper on Interstate 94 in Minneapolis shortly before 2 a.m. on July 31, 2023. Troopers learned that Cobb was wanted for violating an “order-for-protection” in Ramsey County.
In body camera video released by the State Patrol, a trooper approaches on the driver’s side and eventually asks Cobb to step out of the car and hand over the car keys, saying he’d explain what’s happening once Cobb stepped out of the vehicle. Seconds later, the troopers open the car doors on both sides and Cobb starts to drive away.
Footage shows Cobb’s car moving as officers on each side try to force him out of the car followed by several shots into the vehicle by Londregan.
The state Bureau of Criminal Apprehension (BCA) said the car traveled about a quarter mile on the interstate before crashing into a barrier. Cobb was declared dead at the scene.
The BCA said a firearm and two cartridges were found in the car but that Cobb wasn’t holding the gun at any time during the stop.
When announcing charges against Londregan last week, Moriarty said state troopers are only allowed to use deadly force when it’s necessary to protect someone from death or great bodily harm. She said the trooper didn’t follow his training by firing at a fleeing car.
Londregan is on paid administrative leave while the state Department of Public Safety investigates the shooting. His next court appearance is scheduled for April 29.
In a statement released Monday afternoon, Cobb family attorneys didn’t comment directly on the arraignment. However, they reiterated their contention that Londregan used excessive force. | https://www.albertleatribune.com/2024/01/trooper-charged-with-murder-of-ricky-cobb-ii-makes-first-court-appearance/ | 2024-01-30T00:56:20Z | blocked_url |
WELLINGTON - New Zealand on Jan 30 joined the list of countries that have suspended funding to the embattled UN Palestinian refugee agency following Israeli allegations that some staff members participated in the Oct 7 Hamas attack.
Prime Minister Christopher Luxon said New Zealand had paused funding to the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) until the allegations are investigated.
The agency has fired several staff members over Israel’s accusations and promised a thorough investigation into the claims, which were not specified. Israel has vowed to stop the agency’s work in Gaza after the war.
“The allegations are incredibly serious. It’s important they are properly understood and investigated,” Mr Luxon told reporters.
New Zealand will not “be making any further contributions” to UNRWA until foreign minister Winston Peters “says it’s good to do so”, Mr Luxon added.
The United States, Australia, the United Kingdom, Japan and Germany are among the other countries to have already suspended funding to UNRWA, which has been at the heart of humanitarian efforts in Gaza.
Mr Luxon said New Zealand had been providing UNRWA with about NZ$1 million (S$821,600) in yearly funding.
The European Union on Jan 29 demanded an “urgent” audit of the UN Palestinian refugee agency and is also reviewing funding. AFP | https://www.straitstimes.com/asia/australianz/new-zealand-suspends-funding-to-embattled-un-agency-in-gaza | 2024-01-30T00:58:53Z | blocked_url |
SYDNEY – A shark mauled a woman as she swam in Sydney Harbour in a gory attack that left her in hospital with a “serious” leg injury, officials and media said on Jan 30.
The predator struck on Jan 29 evening as the woman swam off a wharf in Elizabeth Bay, less than 2km from the iconic Sydney Opera House, police said.
The woman suffered a “serious injury to her right leg”, New South Wales police said in a statement.
It was the first shark attack in Sydney Harbour since 2009, when an Australian navy diver fought off a bull shark that bit him in the arm and leg in Woolloomooloo Bay.
Neighbours rushed to help the Elizabeth Bay victim, the Sydney Morning Herald said, identifying her as Ms Lauren O’Neill, 29.
It quoted one resident, who said he had heard Ms O’Neill’s “soft yell” for help from his window.
“She was trying to climb in and behind her was her leg, which was completely open and full of dark red blood behind her,” resident Michael Porter was quoted as saying.
“It was surreal. We have always been worried and known about sharks in the harbour... it’s only now that it feels very real.”
A vet living nearby applied a tourniquet, the paper said.
“She swam out to a boat and on her way back, she got bitten by, I think it was, a bull shark,” another witness told local news outlet OnScene Bondi.
“We ran out. My wife’s a vet and she basically bandaged it up,” said the witness, who was not named.
Ms O’Neill was in stable condition and in intensive care at St Vincent’s hospital, a hospital spokesperson said.
She was expected to undergo surgery during the day.
In February 2002, 35-year-old British diving instructor Simon Nellis was devoured off Sydney’s ocean beach Little Bay, the first fatal attack in the city since 1963. AFP | https://www.straitstimes.com/asia/australianz/shark-mauls-woman-in-sydney-harbour | 2024-01-30T00:59:03Z | blocked_url |
HONG KONG - China Evergrande Group’s liquidation order by a Hong Kong court cements the downfall of a company that exemplified the country’s real estate boom and bust. For global investors, what happens to the remnants will have implications far beyond one property developer.
Key is whether the Jan 29 ruling will be followed in mainland China, which has a separate legal system. While Evergrande’s shares and dollar bonds are traded in Hong Kong, the bulk of Evergrande’s US$242 billion (S$324 billion) of assets are located in the mainland.
Few expect the process to be straightforward - there is no precedent for a company the size of Evergrande to be wound up by a Hong Kong court and the firm has multiple units. Yet an unfavourable outcome for foreign investors risks exacerbating already acute pessimism toward China as well as undermining Hong Kong’s role as a vital fundraising center for the nation’s companies.
“International investors will be watching closely to see if mainland courts accept the Hong Kong court’s ruling,” said Kher Sheng Lee, Asia-Pacific co-head of Alternative Investment Management Association, whose hedge and private credit fund members collectively oversee more than US$3 trillion. “That could set an important precedent regarding Hong Kong’s ability to have its legal judgments enforced in China.”
The uncertainty underscores the growing concern among investors that their interests will always be secondary to those of the Communist Party. Abrupt crackdowns on private industry from property to tech have hammered stock valuations, along with concern over an economic slowdown. Last week, the Hang Seng China Enterprises Index of stocks in Hong Kong fell toward its lowest level since 2005.
Prices of Evergrande’s shares and bonds suggest holders have little faith in recovery. Its shares fell to 16 HK cents before they were halted on Jan 29, a fraction of its initial public offering price of HK$3.50 in 2009. Most of Evergrande’s dollar notes have been indicated at about 1.5 cents on the dollar, according to Bloomberg-compiled data.
Hong Kong’s insolvency proceedings have limited recognition in China, whose courts may also appoint administrators in their own jurisdictions.
“The liquidation order should have very limited immediate impact on Evergrande’s onshore operations or assets,” said Brock Silvers, managing director at private equity firm Kaiyuan Capital. “While the liquidator will likely be able to assert control over offshore assets, its authority won’t be recognized onshore.”
Chinese officials have also made it clear in the past they favor the completion of unfinished property projects and paying off contractors over creditor interests - a priority seemingly backed by Evergrande.
“The company has made all efforts possible and is sorry about the winding-up order,” Evergrande chief executive officer Shawn Siu said in a statement. “The company will ensure home deliveries and steadily promote normal operation of the group.” It will also communicate with the appointed liquidator, he said.
The rise and fall of Evergrande illustrates the central role Hong Kong has played in the development of China’s private enterprise. Chairman Hui Ka Yan founded Evergrande in 1996 in the nearby city of Guangzhou, but it was Hong Kong’s deep capital markets and access to international investors that supercharged the company’s growth.
In the decade after the company’s listing, its shares surged as much as 800 per cent to be among Asia’s hottest investments, while Chinese property junk debt - led by Evergrande - turned into one of the most profitable and popular corporate bond trades globally. Hui became one the world’s richest people.
After President Xi Jinping cracked down on leverage in the property market in 2021, Evergrande - with more than US$300 billion of liabilities - foundered. China’s junk bond market collapsed as investor confidence in the ability of firms to repay dwindled. Like many of its peers, Evergrande defaulted on its debt. Last year Hui was placed under police control on suspicion of committing crimes.
Regardless of how mainland courts respond, the liquidation - led by Alvarez & Marsal - will be a challenging process. Most Evergrande projects are operated by local units, making it difficult for the offshore liquidator to seize. More than 90 per cent of the company’s assets are located in mainland China, according to a court filing.
The winding up of Evergrande is uncharted waters, said Alternative Investment’s Mr Lee. “This will be a complex, multi-year process with many open questions.” BLOOMBERG | https://www.straitstimes.com/business/evergrande-liquidation-is-a-big-test-for-international-creditors | 2024-01-30T00:59:13Z | blocked_url |
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Courts, not Govt, will decide use of new law to hold serious crime offenders indefinitely: Shanmugam
He said the period of continued incarceration will be assessed by a detention review board.
New sentencing regime draws mixed reactions from legal professionals
Asean ministers stay cautious despite Myanmar junta sending official to high-level meeting
Foreign Minister Vivian Balakrishnan described the talks with Myanmar as friendly, candid and constructive.
Singapore households continue to spend as inflation eases in 2023; credit card debt not a concern
Swiss man cuts off arm to escape bear attack in Chiang Mai
He used a pocket knife to sever his arm after the bear bit on it and refused to let go.
‘Who says Singapore is not politically mature?’: Janil Puthucheary
Young Singaporeans are interested and engaged, ask questions, attend grassroots events and offer their views, he said.
Keppel: Reinventing and reinvigorating its storied name
Keppel Ltd has shed its conglomerate clothes and successfully transformed itself into a global asset manager, says associate editor Ven Sreenivasan.
Europe’s rising fears as Trump marches towards the White House
A European army? Play the China card? Europe ponders its options in the event that Trump gets re-elected.
FAS fires head coach Takayuki Nishigaya after poor results
Tsutomu Ogura, a former Japan national team assistant coach, is expected to be his replacement.
Tunisia’s myriad worlds: Roman ruins and Mediterranean Sea, Arab spring and young influencers
The underrated North African country packs a punch with a diverse array of highlights. | https://www.straitstimes.com/singapore/morning-briefing-top-stories-from-the-straits-times-on-jan-30-2024 | 2024-01-30T00:59:24Z | blocked_url |
DOHA - Iraq’s football association condemned the “abhorrent behaviour” of journalists who confronted coach Jesus Casas following the team’s exit in the Asian Cup last 16 on Jan 29.
Iraq conceded two goals in stoppage time in a surprise 3-2 defeat to lower-ranked Jordan in Doha.
Tempers flared among some Iraqi reporters in the post-game press conference, who pointed and shouted angrily at Casas, and approached him at the front of the room before being ushered out by security.
“It pains me what happened,” the 50-year-old Spaniard, who has been Iraq coach since November 2022, said of the chaotic scenes.
Iraq’s football association released a statement in which it expressed its “great dismay” at the “scene that was more painful than the undeserved exit of our team”.
“We denounce the blatant and abhorrent behaviour that occurred against the coach,” it said, vowing “not to deal with these media personnel who seek to cause chaos”.
Casas was himself angered in Jan 28’s pre-match press conference by a question about interviews he has done with Spanish media during the Asian Cup.
Some journalists from Iraq, the country which won the Asian title in 2007, believe the interviews distracted him from his work and were partly to blame for the defeat.
Casas rubbished that notion, pointing out that his team had won all three of their group games, including beating pre-tournament favourites Japan 2-1.
“Concerning my future, I’m calm and our goal is to qualify for the 2026 World Cup,” Casas, a former assistant coach to Luis Enrique at Spain’s national side, said after the Jordan loss.
“Anything might happen and I’m very calm.” AFP | https://www.straitstimes.com/sport/football/abhorrent-behaviour-as-iraqi-journalists-confront-asian-cup-football-coach | 2024-01-30T00:59:34Z | blocked_url |
YAMOUSSOUKRO - Moussa Niakhate missed his penalty in the shoot-out as holders Senegal tumbled out of the Africa Cup of Nations after a drama-filled 5-4 loss to hosts Ivory Coast following a 1-1 draw at the Charles Konan Banny Stadium in their last-16 clash on Jan 29.
Senegal were quick out the blocks and took the lead inside four minutes as Sadio Mane's cross from the left was chested down by Habib Diallo, whose thunderous shot from 10-yards settled in the top corner of the net.
Mane was fortunate not to get a red card shortly after that following a poor challenge, but Senegal could not add to their lead and paid the price when the Ivorians were awarded a clear penalty and equalised through Franck Kessie four minutes from the end of the 90 minutes.
Ivory Coast will now face the winner of Jan 30’s last-16 tie between Mali and Burkina Faso in the quarter-finals on Feb 3.
The Ivorians were in disarray just days ago. Hammered 4-0 in a record loss on home soil by Equatorial Guinea, they were on the verge of elimination and sacked coach Jean-Louis Gasset, replacing him with assistant Emerse Fae.
But a fortuitous set of results elsewhere saw them squeeze into the last-16 and they put up a much-improved display against a Senegal side that had won all three of their pool matches with relative ease.
"It's very emotional, the last few days were tough for us," Ivory Coast striker Sebastien Haller said. "We have opened the door and given ourselves a chance. We can forget now about what happened in the group stages."
The hosts were the better side on the night and might have wrapped things up before the need for penalties, but will simply be relieved to fight another day having avoided an embarrassing early exit from their own tournament.
Leading 1-0, Senegal thought they should have had a penalty in the second half when Ismaila Sarr went down in the box, but the match officials decided there was not enough contact to send him sprawling, much to the annoyance of coach Aliou Cisse. Mane also fired wide when he should have scored.
The Ivorians could have been level when Nicolas Pepe had a clear shot of goal but could not beat Edouard Mendy, before they were awarded a clear spot-kick on VAR review as the former was clattered in the box by the latter and Kessie buried his kick.
The game went to penalties and the unfortunate Niakhate missed his side’s third kick as he struck the post and the Ivorians held their nerve to secure a place in the quarter-finals. REUTERS | https://www.straitstimes.com/sport/ivory-coast-send-defending-champions-senegal-out-of-cup-of-nations | 2024-01-30T00:59:45Z | blocked_url |
BRUSSELS - European Union members agreed unanimously on Monday to set aside billions of euros of windfall profits from Russian central bank assets frozen in Europe, the first step of a plan to help fund Ukraine reconstruction after Russia's invasion.
Ambassadors of the 27 EU countries agreed in principle this first step in a meeting late on Monday, according to a source from Belgium, which holds the six-month presidency of the European Union.
The agreement comes days ahead of a summit at which EU leaders will seek to overcome Hungary's objections to giving Kyiv 50 billion euros of funds for the next four years.
The text will undergo legal and language checks before the ambassadors will have the chance formally to adopt it. The source said this would take place as soon as possible.
The European Commission would then be expected to propose transferring the money set aside to the EU budget and subsequently to Kyiv though it is unclear when it would arrive in Ukraine.
France and Germany have already voiced reservations about the plan, while the European Central Bank has warned it could undermine confidence in the euro and unsettle global markets.
The EU, United States, Japan and Canada froze some $300 billion of Russian central bank assets in 2022 when Russia invaded Ukraine. About $200 billion of that is held in Europe, mainly in the Belgian clearing house Euroclear. REUTERS | https://www.straitstimes.com/world/europe/eu-envoys-back-setting-aside-russian-asset-profits-for-ukraine | 2024-01-30T00:59:55Z | blocked_url |
ROME - Mass tourism has turned Florence into a “prostitute”, one of the city’s museum directors said on Jan 29, sparking outrage from politicians including Italy’s culture minister.
“Once a city becomes a prostitute, it is difficult for it to become a virgin again,” Ms Cecilie Hollberg, director of the Accademia Gallery that houses Michelangelo’s statue of David, told reporters on the sidelines of an event.
“Florence is very beautiful and I would like it to return to its citizens and not be crushed by tourism,” the German historian added, complaining about a lack of normal shops in streets filled with souvenirs.
But “it is already too late,” she said, according to La Repubblica daily, warning that if there was not an “absolute” brake on numbers, “I do not see any more hope”.
The Gallery later issued a statement in which Ms Hollberg apologised “for having used the wrong words” about “a city that I love”.
“What I meant to say is that Florence must be a witness for all of Italy of an increasingly conscious tourism, not ‘hit and run’ tourism,” she said.
But Culture Minister Gennaro Sangiuliano said her words were “serious and offensive” to Florence and the whole of Italy – and threatened to take action, saying he would “evaluate all appropriate initiatives” under current legislation.
Prime Minister Giorgia Meloni’s nationalist government has been accused of seeking to promote more Italians into top cultural roles, as well as more people sympathetic to her right-wing views.
In 2023, ministers approved a change that forces opera chiefs to leave their jobs when they reach 70 years old, a measure widely viewed as a way to remove some foreigners from their posts.
The deputy mayor of Florence, Ms Alessia Bettini, also weighed in against Ms Hollberg, saying that if the city was a prostitute, “are then Florentines the children of a prostitute, and tourists clients of a prostitute?“
Former premier Matteo Renzi, a senator for Florence, said Ms Hollberg “should apologise or resign”.
The gallery director is the latest official in Italy to express concern about the impact of overtourism, particularly in cities such as Florence – where the historic centre is packed with crowds for much of the year – and Venice.
After the UN’s cultural organisation warned it could lose its prized heritage status, Venice in 2023 announced plans to test a ticketing scheme to seek to control numbers, which begins in April. AFP | https://www.straitstimes.com/world/europe/museum-chief-brands-tourist-hit-florence-a-prostitute | 2024-01-30T01:00:05Z | blocked_url |
GAZA STRIP, Palestinian Territories - Even the dead are not spared by the Hamas-Israel war raging in Gaza, with bodies dug up by Israeli troops and hurried burials happening in hospitals and even a school.
In Gaza City’s Al-Tuffah district, shrouded corpses of Palestinians torn from their graves lay atop muddied earth.
Israel’s military had bulldozed the site and exhumed bodies, according to an AFP photographer who visited it earlier January.
The desecration is part of a pattern which the religious affairs ministry in the Hamas-run Gaza Strip said has seen more than 2,000 graves damaged or destroyed by Israeli forces across the territory.
The Israeli military told AFP it “in no way targets cemeteries as such, and has no policy of harming or desecrating cemeteries”.
However, it said that “cemeteries or specific gravesites, like other civilian sites or structures, can come to be damaged” during the war.
Responding separately to allegations that soldiers have snatched bodies from graves, the military told AFP it acts “in the specific locations where information indicates that the bodies of hostages may be located”.
“Bodies determined not (to) be those of hostages are returned with dignity and respect,” it said in a statement.
The war erupted with the Oct 7 Hamas attack which resulted in about 1,140 deaths, mostly civilians, in southern Israel, according to an AFP tally of official figures.
Militants also seized 250 hostages, of whom Israel says around 132 remain in Gaza, including the bodies of at least 28.
Israel’s relentless military offensive has killed at least 26,637 people in Gaza, most of them women and children, according to the Hamas government’s health ministry in the territory.
At a school packed with displaced people in the central Deir al-Balah area, Ms Saida Jaber recalled seeing footage on social media of Jabalia refugee camp’s destroyed cemetery.
“I felt that my heart would stop,” Ms Jaber told AFP, adding that her father, grandparents and other relatives were buried at the site in northern Gaza.
“I felt that their souls trembled... I can’t imagine how anyone dares to dig up graves and violate the sanctity of the dead,” Ms Jaber said.
With no stop to the fighting, many Gazans have been unable to reach formal cemeteries and have instead turned to makeshift graveyards.
At a school-turned-shelter in the central Maghazi refugee camp, a woman touched the sandy earth where her daughter had been buried in the yard.
“My daughter died in my arms... we waited day and night and couldn’t send her to the emergency room,” said the woman, who did not give her name.
She told AFP that rockets hit the school compound and ignited gas canisters, causing deadly explosions.
A man tending to the site said more than 50 people are buried there, each grave containing three or four bodies, with their names written either on bricks or the adjacent wall.
‘Die of grief’
The scale of fatalities is such that AFP journalists have seen mass graves across Gaza.
They include rows of bodies buried in the grounds of Gaza’s largest hospital, Al-Shifa, where people have separated graves with stones and plant branches.
“If we went to the cemetery, they (Israel) might bomb us and we’d die,” said Mr Arfan Dadar, 46, living in a tent with his family in the hospital compound.
Mr Dadar said Israeli soldiers shot dead his 22-year-old son while he was returning to the hospital in Gaza City.
“I marked his grave, (but) now the hospital park is crammed with mass graves. I barely recognise my son’s grave,” he said.
Gazans have said they hope they can move their dead once the war ends.
Mr Wael al-Dahdouh, Al Jazeera’s Gaza bureau chief, said he had “no choice” but to bury his son in an overcrowded cemetery in southern Rafah, after the young journalist was killed in an Israeli strike.
“We will transfer him to the martyrs cemetery in Gaza (City) after the end of the war. We want his grave to be near to us, so that we can visit him and pray for him,” said Mr Dahdouh.
Displaced in Deir al-Balah, Ms Jaber said she longed to return to Jabalia to check on the graves of her relatives.
“I will die of grief if they were also swept away,” she said. AFP | https://www.straitstimes.com/world/middle-east/no-rest-for-gaza-dead-with-swift-burials-bodies-dug-up | 2024-01-30T01:00:15Z | blocked_url |
BAGHDAD - The U.S. believes the attack that killed three U.S. troops on the Jordanian-Syrian border has the "footprints" of Iran-backed Iraqi militia Kataib Hezbollah, the Pentagon said.
Who is the Kataib Hezbollah?
- Founded in the aftermath of the 2003 U.S.-led invasion of Iraq, Kataib Hezbollah is one of the elite Iraqi armed factions closest to Iran.
- It is the most powerful armed faction in the Islamic Resistance in Iraq, an umbrella group of hardline Shi'ite armed groups that have claimed more than 150 attacks on U.S. forces since the Gaza war began.
- After its founding, the group quickly developed a reputation for deadly attacks against military and diplomatic targets in the 2000s, using a mixture of sniper, rocket and mortar attacks and roadside bombs.
It does not openly confirm or deny involvement.
The U.S. designated it as a terrorist organization in 2009.
- It was led by dual Iraqi-Iranian citizen Abu Mahdi al-Muhandis until he was killed in a U.S. drone strike in 2020 along with Iranian Quds Force commander Qassem Soleimani at Baghdad's international airport.
- The group has a translational Shi'ite ideology that views the borders between Iraq, Syria and Lebanon as Western constructs. It views U.S. troops in Iraq as foreign occupiers and has called for their forceful expulsion.
- It fought alongside other Shi'ite militias against mostly Sunni rebels during Syria's civil war and has continued to operate in Syria since.
- A shadowy group with no announced leadership structure, Kataib Hezbollah has thousands of fighters and an arsenal of drones, rockets and short-range ballistic missiles, Iraqi officials and members of the group say.
- The U.S. has struck Kataib Hezbollah positions, bases and training and logistics hubs several times over the years.
On Jan. 24, it struck several targets in Kataib Hezbollah's stronghold in Jurf Al-Sakhar some 50 kilometres south of Baghdad in retaliation for drone and missile attacks.
- It forms several battalions in Iraq's Popular Mobilization Forces (PMF), a grouping of armed factions originally set up to fight Islamic State in 2014 that was subsequently recognised as an official security force.
Fighters receive state salaries and Kataib Hezbollah members, including some designated terrorists by the U.S., hold senior positions in the PMF.
While it is technically under the command of Iraq's prime minister as part of the PMF, the group often operates outside the chain of command and has defied and challenged government statements calling for an end to attacks on U.S. forces.
- Though it does not publicly confirm or deny links, the group is widely seen to have fielded a political party for the first time in 2021 elections, winning several seats in parliament. REUTERS | https://www.straitstimes.com/world/middle-east/who-is-kataib-hezbollah-the-group-blamed-for-killing-us-troops | 2024-01-30T01:00:26Z | blocked_url |
WASHINGTON - US Secretary of State Antony Blinken warned on Jan 29 that Ukraine’s gains over two years of fighting were all in doubt without new US funding, as Nato’s chief visited to lobby Congress.
Tens of billions of dollars in US aid has been sent to Ukraine since the invasion in February 2022, but Republican lawmakers have grown reluctant to keep supporting Kyiv, saying it lacks a clear end game as the fighting against President Vladimir Putin’s forces grinds on.
As Nato Secretary-General Jens Stoltenberg made the case on a visit to Washington, Mr Blinken offered an increasingly dire picture of Ukraine’s prospects without US approval of the so-called supplemental funding.
“Without it, simply put, everything that Ukrainians achieved and that we’ve helped them achieve will be in jeopardy,” Mr Blinken told a joint news conference with Mr Stoltenberg.
“Absent that supplemental, we’re going to be sending a strong and wrong message to all of our adversaries that we are not serious about the defense of freedom, the defense of democracy,” he said.
“It will simply reinforce for Vladimir Putin that he can somehow outlast Ukraine and outlast us,” he said.
President Joe Biden has asked Congress to approve US$61 billion (S$81.73 billion) in new aid to Ukraine.
But the talks have bogged down as Republican lawmakers – furious over record flows of migrants over the US border with Mexico – demand major changes in immigration and border control policy in exchange for approving more money for Ukraine.
Mr Stoltenberg said he would meet US lawmakers on Jan 30 and make the case that support for Ukraine was “in our own security interest.”
“It will be a tragedy for Ukrainians if President Putin wins but it will also make the world more dangerous and all of us more insecure,” Mr Stoltenberg said.
“It will embolden other authoritarian leaders – not only President Putin, but also North Korea, Iran and China to use force,” he said.
With many Republicans focused on opposing China, Mr Stoltenberg said: “Today it’s Ukraine; tomorrow it could be Taiwan.”
US and Nato officials have acknowledged limited gains in a counteroffensive launched by Ukraine in 2023.
But Mr Stoltenberg said that Ukrainians in the longer term have defied expectations, taking back half of the territory seized by Russia, which had expected a swift takeover.
“This idea that it doesn’t help to help them – actually, the Ukrainians have proved the opposite,” Mr Stoltenberg said.
Mr Stoltenberg earlier met at the Pentagon with Defence Secretary Lloyd Austin and top US military officer General Charles “CQ” Brown and later at the White House with Mr Jake Sullivan, Mr Biden’s national security advisor.
He also appeared on Fox News, a favourite network of Republicans, and made the case that US weapons help US workers as they are made in the United States.
Donald Trump, the likely Republican candidate in the November presidential election, and who has often praised Mr Putin, is urging Republican lawmakers to reject the immigration accord being negotiated in Congress – which would also torpedo aid for Ukraine.
Sweden expected in Nato soon
Mr Stoltenberg visited after Turkey gave its long-awaited green-light for Sweden to enter Nato.
Hungary, led by nationalist Viktor Orban, is the remaining holdout but both Mr Blinken and Mr Stoltenberg expected approval soon.
Mr Stoltenberg said Mr Orban told him that the Hungarian Parliament will reconvene at the end of February.
“I expect also in line with what he said that the Parliament will then finalise ratification shortly after that,” Mr Stoltenberg said.
Sweden and Finland – which joined Nato last year – had once hesitated to enter the alliance for fear of antagonising Russia, but switched gears after the invasion of Ukraine, which has unsuccessfully sought membership.
Turkey extracted concessions from Sweden on Kurdish militants in the country and US approval of a US$23 billion sale of 40 F-16 warplanes – announced at the same time as a deal for more advanced F-35 jets for Turkey’s historic rival Greece, also a Nato member. AFP | https://www.straitstimes.com/world/united-states/meeting-nato-blinken-warns-ukraine-gains-in-doubt-if-no-us-aid | 2024-01-30T01:00:36Z | blocked_url |
SAN FRANCISCO - Mr Elon Musk on Jan 30 said his Neuralink startup had installed a brain implant in its first human patient, with “promising” initial results.
The neurotechnology company co-founded by Mr Musk in 2016 aims to build direct communication channels between the brain and computers.
The ambition is to supercharge human capabilities, treat neurological disorders like ALS or Parkinson’s, and maybe one day achieve a symbiotic relationship between humans and artificial intelligence.
“The first human received an implant from Neuralink yesterday and is recovering well,” Mr Musk said in a post on X, formerly Twitter.
“Initial results show promising neuron spike detection,” he added.
The start-up in 2023 said it won approval from US regulators to test its brain implants in people.
Neuralink’s technology will mainly work through an implant called the “Link” – a device about the size of five stacked coins that is placed inside the human brain through invasive surgery.
According to data company Pitchbook, California-based Neuralink had more than 400 employees and has raised at least US$363 million (S$486.31 million).
Though he wins most of the headlines, Mr Musk is hardly alone in trying to make advances in the field, which is officially known as brain-machine or brain-computer interface research.
Hit with delays, the tycoon had reportedly reached out to join forces with implant developer Synchron about a potential investment.
Unlike Neuralink’s Link, its implant version does not require cutting into the skull to install it.
The Australia-based Synchron implanted its first device in a US patient in July 2022. AFP | https://www.straitstimes.com/world/united-states/musk-says-neuralink-installs-brain-implant-in-first-patient | 2024-01-30T01:00:47Z | blocked_url |
Three U.S. troops were killed and dozens wounded after a drone hit a military outpost in Jordan known as Tower 22.
Here is what is known about the base:
LOCATION
Tower 22 holds a strategically important location in Jordan, at the most northeastern point where the country's borders meet Syria and Iraq.
PURPOSE
Little is publicly known about the base. But it includes logistics support and there are 350 U.S. Army and Air Force troops at the base.
Tower 22 is near Al Tanf garrison, which is located across the border in Syria, and which houses a small number of U.S. troops. Tanf had been key in the fight against Islamic State and has assumed a role as part of a U.S. strategy to contain Iran's military build-up in eastern Syria.
Tower 22 is located close enough to U.S. troops at Tanf that it could potentially help support them, while also potentially countering Iran-backed militants in the area and allowing troops to keep an eye on remnants of Islamic State in the region.
U.S. TROOPS IN JORDAN
Jordan's army is one of the largest recipients of Washington's foreign military financing.
The kingdom has hundreds of U.S. trainers and is one of the few regional allies that hold extensive exercises with U.S. troops throughout the year.
Since the start of the Syrian conflict in 2011, Washington has spent hundreds of millions of dollars to help Amman set up an elaborate surveillance system known as the Border Security Programme to stem infiltration by militants from Syria and Iraq.
MANY UNKNOWNS
It is unclear what type of weapons are kept at the base, air defenses used, and what exactly went wrong. REUTERS | https://www.straitstimes.com/world/what-is-tower-22-site-of-the-attack-on-us-troops-in-jordan | 2024-01-30T01:00:58Z | blocked_url |
Greg Olsen drew rave reviews for his commentary during Sunday's NFC championship game on Fox.
Social media lit up with praise as Olsen correctly identified at kickoff San Francisco's exploitability against the run before the Detroit Lions reeled off 148 yards and three touchdowns on the ground before halftime.
That praise reflected the general assessment of Olsen's performance as the analyst on Fox's No. 1 broadcast team. He provides poignant insights into the game and informs viewers of relevant information that they might not otherwise be aware of. He's a pleasure to listen to. He's good at his job.
Barring something unexpected, Sunday was Olsen's last day on that job alongside lead play-by-play announcer Kevin Burkhardt. Thanks to Fox's deal with Tom Brady, Olsen is in line for a demotion. The question now for Olsen if he is demoted: will he stay or will he go?
Is Tom Brady ready to step up?
Brady's expected to step into Olsen's role in the fall with Fox slated to broadcast next season's Super Bowl. Fox signed Brady in 2022 to a 10-year, $375 million contract to take over as its lead game analyst pending his retirement from the NFL.
He was initially slated to take on the position for the 2023 season but put the job on hold for a year after an offseason of pondering continuing his NFL career. He ultimately retired, but wanted a year to prepare so he can "be great at what I do." Brady's since reiterated his plan to start in 2024, but Fox has yet to confirm the plans for next season's broadcast teams.
That meant another year for Olsen on Fox's No. 1 team, a position that he and Burkhardt took over when Joe Buck and Troy Aikman left for ESPN for the 2022 season. Olsen's proven himself in two years in the spotlight as a top-tier announcer. This is in a role where criticism regularly veers into vitriol from fans and media critics alike. Meanwhile, there's nothing to indicate Brady's competence for the job. We'll all have to wait and see.
Assuming that Brady does take over, Olsen's in line for a significant pay cut. Per the New York Post's Andrew Marchand, Olsen's five-year contract with Fox is worth $10 million annually when he's calling game's on the network's No. 1 team. On the No. 2 team, Olsen's contract will pay him $3 million per year.
His contract also offers him an out. Per Marchand, Olsen has an opt-out clause that allows him to seek a role with another network in the event that he's bumped from the No. 1 Fox team. This, of course, would require an opening at another network.
Will Greg Olsen have options?
Tony Romo is the lead analyst at CBS alongside Jim Nantz. Romo has a $180 million deal with the network through 2030. Cris Collinsworth is the top analyst at NBC alongside Mike Tirico. He was reportedly in contract talks in 2021 to extend through 2025 at $12.5 million annually. The results of those talks weren't made public, but he remains a fixture at NBC
Kirk Herbstreit will enter his second season calling games alongside Al Michaels at Amazon. He reportedly makes $10 million annually in the role that allows him to continue covering college football on a long-term deal at ESPN. And Aikman has the "Monday Night Football" gig at ESPN locked up alongside longtime partner Joe Buck. He'll enter the third year next season of a reported five-year, $92.5 million contract.
This is all to say that there are no No. 1 analyst openings in sight. What's a No. 1-caliber talent to do when faced with playing second chair to an unproven but immensely marketable Brady while facing a $7 million pay cut?
Without the prospect of another No. 1 gig, it may add up to Olsen remaining at Fox on the No. 2 team while eyeing his next shot at a top job. Which would be a boon for Fox. For now, it's a waiting game dependent on Brady actually taking over. | https://www.kiss104fm.com/news/national/greg-olsen-likely/2C3XHBLG4QJPSIKE45FUGCEP6Q/ | 2024-01-30T01:22:18Z | blocked_url |
In a dossier provided last week to the United States government, Israel accused a dozen employees of the United Nations Relief and Works Agency of participating in the Oct. 7 Hamas attacks that left an estimated 1,200 dead in Israel. On Friday, the U.N. said it had fired several employees in response to the allegations. So far, 11 countries — including the U.S. — have frozen funding to UNRWA, the main aid group responsible for schooling, sheltering and feeding hundreds of thousands of Palestinians in the war-torn Gaza Strip, where the reported death toll now stands at more than 26,000. Here are the key facts you need to understand the controversy.
What is UNRWA?
UNRWA was established in 1949 by the U.N. General Assembly to provide relief to all Palestinian refugees displaced by the 1948 war that followed the establishment of Israel, and subsequent conflicts. A subsidiary body of the U.N., it provides education, health care and social services in addition to basic food supplies. UNRWA is one of the largest employers in Gaza, with 13,000 people on staff — most of them Palestinians.
What is Israel claiming?
According to reports by the Associated Press and the New York Times — both of which obtained the dossier in question — Israel has alleged that 10 of the UNRWA employees had ties to Hamas; that an 11th employee was affiliated with the militant group known as Islamic Jihad; that seven UNRWA employees stormed into Israeli territory on Oct. 7; that one abducted a woman from Israel; and that another brought the body of a dead Israeli soldier to Gaza after distributing ammunition and coordinating vehicles on the day of the attacks. In total, Israeli intelligence has determined that at least 190 UNRWA workers could be considered operatives of Hamas or Islamic Jihad, according to the document.
What evidence has Israel provided?
Israeli intelligence says it based its allegations on cellphone data showing movements inside Israel on Oct. 7, calls inside Gaza to discuss the Hamas attacks and text messages ordering UNRWA workers to report to specific locations on Oct. 7 — including one that told an employee to come equipped with rocket-propelled grenades that had been stored in his home, according to the Times.
Other Western governments have yet to independently verify Israel’s claims, but “American officials say they found them credible enough to warrant suspending aid,” according to the Times. As for the U.N., it condemned “the abhorrent alleged acts” and fired nine of the accused workers. Two others are reportedly dead, and the last is still being identified as part of an ongoing investigation by the U.N.’s Office of Internal Oversight Services.
How have the U.S. and other countries responded?
As of Monday afternoon, 11 countries had suspended payments to UNRWA in response to the allegations: Australia, Canada, the United Kingdom, the United States, Finland, the Netherlands, Germany, Italy, Iceland, Estonia and Japan. That represents at least $363 million of UNRWA’s $1.6 billion budget.
"The United States is extremely troubled ... [and] has temporarily paused additional funding for UNRWA while we review these allegations and the steps the United Nations is taking to address them," State Department spokesperson Matthew Miller said in a statement last week. "There must be complete accountability for anyone who participated in the heinous attacks of October 7."
How has the U.N. responded?
In addition to firing the accused employees, the U.N. has announced a "comprehensive and independent" review of UNRWA — a process that will help "establish the truth without delay," according to UNRWA Commissioner-General Philippe Lazzarini. Lazzarini added that "any UNRWA employee who was involved in acts of terror" would potentially face criminal prosecution.
Yet Lazzarini also warned of an impending humanitarian catastrophe if relief money is withheld at a time when a quarter of Gaza's population is facing starvation. The vast majority of Gazans depend on UNRWA for some form of aid, and its schools alone provide shelter to more than a million residents.
“It would be immensely irresponsible to sanction an agency and an entire community it serves because of allegations of criminal acts against some individuals, especially at a time of war, displacement and political crises in the region,” he said. “The lives of people in Gaza depend on this support, and so does regional stability.”
What is Israel’s relationship with UNRWA?
Israel sees UNRWA as an obstacle to resolving the Israeli-Palestinian conflict because it “prevents Palestinian refugees from integrating into new communities and stokes their dreams of one day returning to what is now Israel,” according to the Times — “a goal that Israel says it will never allow.” And even before leveling its latest allegations, Israel has long insisted that Gaza’s UNRWA is under the influence of Hamas, which it claims uses the agency’s facilities to store weapons and launch attacks — accusations UNRWA has repeatedly denied.
Does this have any connection to the genocide allegations against Israel?
On Friday — the same day Israel’s UNRWA allegations surfaced — the U.N.’s top judicial body issued an interim ruling on accusations of genocide against Israel. After South Africa requested “provisional measures” to stop Israel’s military campaign while the International Court of Justice considered the broader genocide charge, the court ordered Israel to prevent acts banned under the 1948 Genocide Convention; to prohibit and punish statements that incite such acts; to allow more aid into Gaza; and to report back on its progress in a month. | https://www.kiss104fm.com/news/national/israel-claims-12-un/VKAOLV3SARPC3LQKGAJMEPCZKA/ | 2024-01-30T01:22:24Z | blocked_url |
The Minnesota Twins are trading former All-Star infielder Jorge Polanco to the Seattle Mariners, ESPN's Jeff Passan reports.
Terms of the deal were not initially reported.
Polanco, 30, has played his entire eight-season MLB career with the Twins. He made an All-Star game in 2019. A career .269/.334/.446 hitter, Polanco has averaged 14 home runs, 55.9 RBI and 6.4 stolen bases per season. He hit a career-high 31 home runs in 2021.
Ankle, knee and hamstring injuries limited Polanco to 80 games in 2023. He was productive when available while slashing .255/.335/.454 with 14 home runs, 48 RBI and six stolen bases. | https://www.kiss104fm.com/news/national/report-twins-trading/MUC6INW4CV4LNGMWXG36O2I5SY/ | 2024-01-30T01:22:31Z | blocked_url |
BESSEMER, Ala. — A kangaroo seen hopping through a neighborhood in central Alabama was captured on Monday, authorities said.
Dee Miller, a truck driver from Bessemer, took a video after witnessing the missing marsupial bouncing through the Birmingham suburb on Sunday night, AL.com reported.
Miller grabbed his cellphone and began recording, convinced that no one would believe him, WTVM reported. The kangaroo hopped away at a fast pace, according to the television station.
“I’m sure they’re looking for it,” Miller told AL.com. “I’ve never heard of anyone (exotic animal owner) being here until I posted the video.”
See the (now recaptured) kangaroo on the loose in Bessemer:
— AL.com (@aldotcom) January 29, 2024
More: https://t.co/iCrXWfQ6JP pic.twitter.com/Em4XevuXK9
Bessemer police Det. Justin Burmeister said the kangaroo’s owner apparently has several exotic pets at his residence in the city, AL.com reported. The owner caught the kangaroo later, Burmeister said on Monday.
Miller said the kangaroo was small, between two and four feet tall. He said he was in a vehicle with his mother when he saw the kangaroo about five blocks from his home.
“I said, ‘Mom, you see that?’” Miller told AL.com. “There it was, a kangaroo standing right in the road. I said, ‘It’s a kangaroo, Mom.’ Then it went to jumping in the grass.”
Miller said he was glad he recorded the encounter.
“I know people would have said, ‘No, ain’t no kangaroo in Bessemer,’” Miller told AL.com.
© 2024 Cox Media Group | https://www.kiss104fm.com/news/trending/kangaroo-who-escaped-home-containing-exotic-pets-captured/3PZB57LRJVGFTNKX5ZR3XDTIGM/ | 2024-01-30T01:22:38Z | blocked_url |
WASHINGTON — The Pentagon on Monday identified the three U.S. Army soldiers who were killed during a drone attack in Jordan on Sunday.
According to a news release from the U.S. Department of Defense, the three soldiers killed were all from Georgia. They were Sgt. William Jerome Rivers, 46, of Carrollton; Spec. Kennedy Ladon Sanders, 24; of Waycross; and Spec. Breonna Alexsondria Moffett, 23, of Savannah.
The soldiers were members of a reserve engineering unit who were in their housing units when the drone exploded, The Washington Post reported. At least 25 others were injured in the attack, which President Joe Biden said was a drone attack from an Iran-backed militia.
BREAKING: The Pentagon identifies three U.S. service members killed in the drone attack in Jordan by an Iran-backed group.
— ABC News (@ABC) January 29, 2024
“These brave Americans and their families are in our prayers and the entire Department of Defense mourns their loss." https://t.co/yKTmR3M23f pic.twitter.com/pyaB387YRn
They were assigned to the 718th Engineer Company, 926th Engineer Battalion, 926th Engineer Brigade, at Fort Moore, Georgia, according to the Department of Defense.
Defense officials said that the soldiers were at Tower 22, a small installation in northeastern Jordan, near the borders of Iraq and Syria, the Post reported.
Biden, who was traveling in South Carolina, said Sunday that the U.S. will respond to the attack.
“We had a tough day last night in the Middle East. We lost three brave souls in an attack on one of our bases,” the president said. “And we shall respond.”
Biden said in a written statement that the United States “will hold all those responsible to account at a time and in a manner (of) our choosing,” The Associated Press reported.
According to a statement from the Army Reserve Command, Rivers enlisted in the Army Reserve as an Interior Electrician in 2011, ABC News reported. He completed a nine-month rotation to Iraq in 2018 as part of Operation Inherent Resolve, for which he received the Inherent Resolve Campaign Medal with Campaign Star.
Rivers’ wife, who asked not to be identified, told WSB-TV that her husband was passionate about his work with the Army.
“He was away, and he just promised that he would be home safe. And unfortunately, that didn’t happen,” she told the television station, adding that she did not know her husband was in Jordan. “They came to the door and told me that he had passed away in Jordan, which I didn’t know he was in Jordan because, I guess, that was classified information.”
The heartbroken wife said her husband of almost 11 years and father of their teenage son was always there for them, even when he was overseas. https://t.co/JzH3rEB8a1
— WSB-TV (@wsbtv) January 29, 2024
Sanders was a 2017 graduate of Ware County High School in Waycross, WJCL-TV reported.
On Monday, officials in Ware County, located in the southeastern area of Georgia, issued a proclamation honoring Sanders and ordered that all flags will be flown at half-mast until sunset on the day of her internment.
“Her unwavering commitment to defending our nation and protecting the freedoms we hold dear will forever be etched in our hearts and memories,” the proclamation read. “Her sacrifice will not be forgotten, and his service will be forever honored. ... Her sacrifice reminds us of the profound debt of gratitude we owe to those who selflessly serve our country.”
'Their service and sacrifice will not be forgotten': Military releases info on Georgia soldiers | Click on the image to read the full story https://t.co/ACcfhad6s7
— WJCL News (@WJCLNews) January 29, 2024
Moffett, a graduate of Windsor Forest High School in Savannah, enlisted in the Army Reserves in 2019 as a Horizontal Construction Engineer, the Pentagon said. She was awarded the National Defense Service Medal and the Army Service Ribbon, according to the Savannah Morning News.
Savannah Mayor Van Johnson released a statement on Facebook, calling the soldiers heroes.
“May we always remember that freedom is not free,” Johnson wrote.
“On behalf of the Army Reserve, I share in the sorrow felt by their friends, family, and loved ones, Lt. Gen. Jody Daniels, Chief of Army Reserve and Commanding General U.S. Army Reserve Command, said in the Department of Defense press release. “Their service and sacrifice will not be forgotten, and we are committed to supporting those left behind in the wake of this tragedy.”
© 2024 Cox Media Group | https://www.kiss104fm.com/news/trending/pentagon-identifies-3-us-soldiers-killed-jordan-drone-attack/WCCQOOKMVBEB3DEZHUTY7JGWI4/ | 2024-01-30T01:22:45Z | blocked_url |
DETROIT — Officials at Toyota and General Motors on Monday urged the owners of approximately 61,000 older vehicles to stop driving them because their airbag inflators are at risk of exploding.
The urgent advisory covers Corolla compact cars and Matrix hatchbacks from 2003 and 2004., The Associated Press reported. It also includes the RAV4 model, a small SUV, from 2004 and 2005. An additional 11,000 Pontiac Vibes from 2003 and 2004, are also part of the warning, according to the news outlet.
The Matrix and Vibes are essentially the same vehicle and were produced at the same California factory, the AP reported.
The concern is from the vehicles’ Takata airbag inflators, which could explode and hurl debris, CBS News reported. Because of the airbags’ ages, an explosion could shoot sharp metal fragments, which could lead to injury and possibly death, according to Toyota.
All of the vehicles were in the United States.
The recalled RAV4s have Takata driver’s airbags while the Corolla, while they are located on the passenger side in the Matrix models, the AP reported.
“Owners SHOULD NOT DRIVE these vehicles until the FREE safety recall repair has been conducted,” Toyota said in a news release.
Toyota and General Motors said that owners of the affected vehicles should contact a local dealer, the news release stated. Dealers will provide options that will include mobile repair, towing the vehicle to a dealer, or vehicle pickup and delivery by the dealership.
The latest announcement comes about a month after Toyota recalled about 1 million vehicles in the U.S. because the front passenger airbags may not deploy properly in a crash, posing an additional risk of injury to riders.
© 2024 Cox Media Group | https://www.kiss104fm.com/news/trending/toyota-urges-drivers-old-corollas-rav4s-stop-driving-until-airbags-are-replaced/H5HWI37V4JD3FDZOZTCUAMVSZI/ | 2024-01-30T01:22:52Z | blocked_url |
Former South Carolina supreme court chief justice Jean Toal decisively shot down convicted killer Alex Murdaugh’s bid for a new trial on Monday, determining improper conduct with jurors was made by Colleton County clerk of court Becky Hill – but that Hill’s contacts did not rise to the level of necessitating a new trial for Murdaugh.
As a result, Murdaugh’s March 2, 2023 convictions for the murder of his wife and younger son remain standing … for now.
A fourth generation scion of one of the Palmetto State’s most influential legal dynasties, Murdaugh was found guilty last winter of the graphic murders of his wife, 52-year-old Maggie Murdaugh, and younger son – 22-year-old Paul Murdaugh – on the family’s hunting property near Islandton, S.C. on the evening of June 7, 2021.
He was sentenced to two consecutive life terms in prison on those charges on March 3, 2023. Murdaugh has appealed those convictions, although his appeal has put been on hold for the last few months as the jury tampering allegations against Hill were investigated.
Or, covered up … depending on your perspective.
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The killings of Maggie and Paul were part of an institutionally enabled maze of multifaceted criminality collectively referred to as the ‘Murdaugh Murders’crime and corruption saga. These crimes captured international audiences and turned Murdaugh’s double homicide trial in Walterboro, S.C. last year into the Palmetto State’s ‘Trial of the Century.’
Toal’s decision to deny Murdaugh a new trial came two weeks after she controversially narrowed the scope of this inquiry reached despite the absolute evisceration of Hill on the stand, an implosion reminiscent of the way Murdaugh himself imploded after he took the stand in his murder trial last year.
It also came after one of the Murdaugh jurors – rechristened “Juror Z” – testified under oath that Hill tampered with the jury and that her tampering influenced the juror’s guilty verdict. This testimony certainly appeared to not only meet – but exceed – the high bar set by Toal for granting Murdaugh a new trial under the state supreme court case she chose to use as her guide.
Another juror corroborated Juror Z’s testimony about Hill making these remarks – although they indicated the comments did not impact their decision to find Murdaugh guilty.
Nonetheless, Toal determined Hill’s tampering did not cross the line into impacting the verdict.
“I find that the answer to this question is ‘no,’” she said.
(Click to view)
Still, Toal chided Hill for succumbing to the “siren call of celebrity” and making “fleeting and foolish comments” to jurors – remarks Hill’s attorneys moved quickly to cast in the best possible light.
“We respect today’s ruling by Justice Toal denying Alex Murdaugh’s motion for a new trial,” a statement attributed to Justin Bamberg and Will Lewis. “Justice Toal described Becky Hill’s alleged comments at the center of Murdaugh’s defense counsel’s argument as ‘fleeting’ and that any interaction she had with jurors in no way influenced their collective decision on the facts of the case. We agree with Justice Toal’s finding that the Colleton County jurors selected for this very complicated and lengthy trial were consummate professionals and operated within the instructions of the court. We thank them for their service.”
The outcome of this chapter of this crime and corruption saga felt preordained, with Toal delivering a ruling less than fifteen minutes after Murdaugh’s attorneys – and prosecutors in the office of S.C. attorney general Alan Wilson – gave their closing arguments.
Wilson’s office clearly considers the matter closed – despite the massive, unresolved conflicts of interest this jury tampering investigation has exposed.
“As with all cases, the attorney general’s office and SLED’s only mission is to seek the truth and deliver justice, wherever the facts lead,” Wilson said in a statement following Toal’s decision. “It does not matter your name, position, or status, no one is above the law. We take very seriously the allegations in this situation and immediately requested an investigation, committed to discovering the truth, regardless of what it might find. After that thorough investigation, and a fair public hearing, it is clear that Alex Murdaugh’s convictions for the murders of Maggie and Paul are based solely upon the facts and evidence of the case. It is time to move on and forward.”
Wilson may want this chapter closed, but Murdaugh’s lawyers – who scored some significant points during Monday’s hearing – clearly have no intention of going gently into that brisk, midwinter South Carolina night.
Stay tuned for much more on this case as the fallout from justice Toal’s decision reverberates across the Palmetto State and the broader true crime universe …
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ABOUT THE AUTHOR …
Will Folks is the founding editor of the news outlet you are currently reading. Prior to founding FITSNews, he served as press secretary to the governor of South Carolina and before that he was a bass guitarist and dive bar bouncer. He lives in the Midlands region of the state with his wife and seven (soon to be eight) children.
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Updated January 29, 2024 at 7:17 PM ET
The Pentagon on Monday released the identities of the three American service members killed Sunday by a drone strike in northeastern Jordan.
The three were identified as Sgt. William Jerome Rivers, 46, of Carrollton, Ga.; Spc. Kennedy Ladon Sanders, 24, of Waycross, Ga.; and Spc. Breonna Alexsondria Moffett, 23, of Savannah, Ga.
The three were all reservists assigned to the 718th Engineer Company in Fort Moore, Ga.
Meanwhile, the number of those wounded in the attack rose to more than 40, the Pentagon announced on Monday.
National Security Council spokesman John Kirby said President Biden is committed to holding accountable those behind the drone strike, adding that the attack was "escalatory" and "requires a response."
But Kirby also emphasized that "we are not looking for a war with Iran," which U.S. officials say played a role in the attack.
"We'll do that on our schedule, in our time, and we'll do it in a manner of the president's choosing as commander in chief," he said.
The attack in Jordan marks the first deadly attack on U.S. forces in the Middle East since the Israel-Hamas broke out with the Hamas attacks on Israel on Oct. 7. The U.S. has been attempting to contain the conflict and prevent it from spreading further in the region.
What happened?
The aerial drone struck container housing units at Tower 22, a remote base in northeast Jordan near the Syrian border, early Sunday.
Tower 22 supports the Al-Tanf Garrison in southeastern Syria, where U.S. special operations have long operated in tandem with other countries in combating Islamic State militants. About 350 U.S. Army and Air Force personnel are deployed to the base.
Central Command said at least eight service members were evacuated out of Jordan to receive higher level care but they are in stable condition.
A U.S. official told NPR that the service members' injuries vary, with many suffering from traumatic brain injury. There are also reports of a spinal injury and at least one case of a shrapnel wound.
U.S. military has been under scrutiny after reports that air defenses at Tower 22 possibly mistook the enemy's drone for an American one which was operating around the same time and level of the attacker. The confusion was first reported by the Wall Street Journal.
Who was behind the attack?
The Islamic Resistance in Iraq, a coalition of militias backed by Iran, claimed credit for the attack. The group called it revenge for America's military presence in the region and the Palestinian death toll in Gaza. More than 25,000 people have been killed in Gaza, according to Gaza's health ministry.
The Islamic Resistance in Iraq claimed to have attacked a total of four military bases on Sunday — three of which are U.S. bases in Syria and on the Syrian-Jordanian border, and one belonging to Israel. There has been no confirmation of other attacks from U.S. officials.
Iranian officials deny the country had any involvement in the drone strike, according to the state-run IRNA news agency.
But U.S. officials say they are confident that Iran played a role in the attack, though it is too soon to say if Iran directed the strike.
"We know that Iran is behind it," said Deputy Pentagon press secretary Sabrina Singh at a press conference on Monday. "Iran continues to arm and equip these groups to launch these attacks."
Why are U.S. troops in the Middle East?
Defense Secretary Lloyd Austin described the service members as "brave Americans" who were deployed to northeastern Jordan to "work for the lasting defeat of ISIS."
"The President and I will not tolerate attacks on American forces, and we will take all necessary actions to defend the United States, our troops, and our interests," he said in a statement Sunday.
About 900 U.S. troops are stationed in Syria and 2,500 in Iraq, largely to help fight ISIS. Since the Israel-Hamas war started, Iranian-linked forces have carried out more than 140 attacks in those two countries.
Earlier this month, Central Command said a "number" of U.S. military personnel were evaluated for traumatic brain injuries after Iran-backed groups launched multiple ballistic missiles and rockets on an airbase in western Iraq. Most of the missiles were intercepted but at least one Iraqi service member was wounded, it added.
In December, three U.S. service members were injured, one critically, by a drone strike in northern Iraq. In response, the U.S. said it carried outmultiple airstrikes against facilities used by militants.
NPR's Tom Bowman, Jane Arraf and Peter Kenyon contributed reporting.
Copyright 2024 NPR. To see more, visit https://www.npr.org. | https://www.wskg.org/npr-news/2024-01-28/u-s-identifies-the-3-service-members-who-were-killed-in-drone-strike-in-jordan | 2024-01-30T01:36:00Z | blocked_url |
An incident involving a female student in a hijab, an Islamic headscarf, being attacked by a male student at Glenside Middle School in Queen Bee District 16 in Glendale Heights, is being investigated by the district and police.
The attack happened Thursday and was caught on students’ cellphones and shared widely on social media and WhatsApp. The video shows a male student grabbing the female student by her head and holding her in a headlock before shoving her to the ground near a set of lockers.
On Monday afternoon, the Chicago chapter of the Council on American-Islamic Relations, which had previously warned of an increase in bullying, harassment and discrimination incidents against Muslim students over the last couple of years, called on law enforcement to investigate the attack.
District 16 Superintendent Joseph Williams called the events “extremely upsetting” but said the investigation does not suggest that the attack was fueled by bigotry.
“This is a serious disciplinary incident and we’re handling it as such, but we have no evidence that this was some act of intolerance related to a matter of faith,” Williams said Monday. “This type of behavior is aberrant; we completely won’t tolerate it. Our duty at this point is to protect the child through what happened, and then respond within the limits of the law, understanding that everybody here is a child.”
Though Williams could not share the identity of the female student, he noted that she is one of 91 students in the district who are new to the country.
“We have 52 languages spoken in a student population of about 1,700. We embrace it as a gift and it is a strength of our community,” he said. “It’s a multifaith, multicultural community and it’s brilliant, so things like this hurt.”
Williams said the district notified the Glendale Heights Police Department, which has initiated an investigation into the attack. “We can report that we have identified the students responsible for this attack,” Williams said.
According to CAIR-Chicago, the student’s family came from Saudi Arabia and has been in the United States for two months.
In the footage, a crowd of students can be seen watching the events unfold but none are seen intervening.
Williams said that while the behavior of the other students was deeply distressing, within minutes, a teacher responded to the female student in distress and called the administration for help.
A member of the school’s administration then responded and cleared the scene, and made sure the student was physically safe, Williams said.
“At this time, we are working on our No. 1 priority, which is to support the student to whom this happened,” Williams said. “We will make sure that the school is safe for them, and will always continue to be and also hold the individual or individuals responsible for this behavior fully accountable.”
Daywatch
In a statement, CAIR-Chicago also called on the school and the district to effectively address the larger culture of bullying, which has become an intractable phenomenon.
“Bullying involves more than the perpetrator, bystanders who watch and accept, or even reward this behavior, make it possible for the bully to carry out their attack,” CAIR-Chicago’s operations manager and former CPS school teacher, Maggie Slavin, said in a statement. “In this case, we see bystander students reinforcing the terrible ambush, filming it, and even gloating about it on social media. This larger culture must be addressed.”
Williams said the district will investigate every possibility, considering the culture and climate of schools across the country.
“We’re not immune, just like any other school, seeing as, unfortunately, this happened,” he said. “But in our case, we will accept responsibility for the safety of the child and also to hold the ... individuals accountable. It just cannot happen again.”
Williams said the district is in communication with leaders from Muslim Society Inc., a mosque down the street from Glenside Middle School, as it ensures the well-being of the female student and her family.
Glendale Heights police did not immediately respond to requests for comment. | https://www.chicagotribune.com/education/ct-glenside-middle-school-attack-video-20240130-upl723xgafhovpzffstrpfqfue-story.html | 2024-01-30T01:40:57Z | blocked_url |
The city of Aurora and CyrusOne on the far northeast side of town are seeking a deal that would allow the company to expand.
Aurora staff is seeking City Council authorization to enter into a reimbursement deal with the data center company to expand on 30 acres along Bilter Road, west of the Eola Road interchange with Interstate 88.
If all goes well during negotiations, the company would expand on the property, and the city would get reimbursement for some of the money it spent years ago toward getting the Eola Road interchange.
“We have an opportunity to leverage a change in market conditions,” said Alex Alexandrou, the city’s chief management officer. “We could recapture some of the infrastructure cost and any opportunity cost.”
“(The expansion) would certainly be a nice addition to the community,” said Russ Whitaker, a Naperville-based attorney representing CyrusOne. “It’s a large scale win all around.”
CyrusOne is a Dallas-based data center company that first located in Aurora when it bought a 428,000-square-foot building at Eola and Diehl roads. It also added a 440,000-square-foot facility next door.
While the company has 24 data centers across the country, this is one of the most significant because it handles data for the Chicago Mercantile Exchange, as well as a number of foreign exchanges. The company serves nine of the Fortune 20 and 180 of the Fortune 1000 companies, along with more than 950 customers.
The company now wants to expand in Aurora because “they are out of room,” Alexandrou told members of the City Council Finance Committee recently.
The company approached the city about 30 acres on the north side of the tollway that is one of the final pieces of the DuPage Ventures property that brought the Butterfield development to the city. Officials want to build another 428,000- square-foot building to house more data servers.
It is next to the Eola Road interchange with I-88. The city has marketed the property for years as a potential home for a hotel, and at one point, specifically banned data centers from consideration for it.
But Alexandrou said “significant efforts” were made to attract a hotel there, and “it didn’t come to fruition.”
The Beacon-News
“The market has changed,” he said. “Adaptability in this environment is key. There is a need for data centers.”
The agreement being negotiated between Aurora and CyrusOne would seek to change the zoning on the property to facilitate the data center. The city is seeking to recapture some of the roughly $10 million to $11 million it put toward the Eola Road interchange project, as well as any revenue it might lose with the loss of a potential hotel on the property.
Alexandrou pointed out that a data center there would bring in significant property taxes, utility taxes and would create a number of construction jobs, not to mention permanent high technology jobs.
It also is in keeping with the area as a high tech center, with CyrusOne, Scientel Solutions and the Endeavor Edged data center currently under construction just to the east of where Cyrus One wants to build.
“Data centers don’t create so much traffic,” said Ald. Shweta Baid, 10th Ward, a Finance Committee member. “There is no pressure on the school district because it creates no children.”
Aldermen on the committee voted unanimously to recommend the resolution authorizing execution of a memorandum of reimbursement with CyrusOne. It will go before the full City Council at the Feb. 6 Committee of the Whole meeting. | https://www.chicagotribune.com/suburbs/aurora-beacon-news/ct-abn-aurora-cyrus-st-0131-20240130-iql4gavgrvfy7oatto362okmse-story.html | 2024-01-30T01:41:03Z | blocked_url |
A Chicago man was the first charged Friday in connection with a high-profile Munster home invasion.
Elkin Castillo, 46, is charged with 10 felonies. He is in custody in Cook County on an “unrelated crime,” according to Munster Police.
Authorities believe the heist was coordinated with at least four men participating and a man matching Castillo’s description who cased the neighborhood days before.
He is ordered held in Indiana on a $150,000, or $15,000 cash surety bond.
The victim previously offered a $15,000 reward for information leading to an arrest. Efforts to contact Munster Police to see if that reward money could be paid were unsuccessful.
Munster Police responded Oct. 27 in the early afternoon to the 1400 block of Park West Circle.
A woman told police she was visiting her relative’s home, when she answered a knock at the attached garage door. Thinking it was her daughter and son-in-law, she started to open it.
“Multiple” men rushed in and attacked her. They forced her to the ground, hitting her repeatedly, zip-tied her hands and feet and duct-taped her mouth, before dragging her down the stairs and taking her cell phone.
She was later taken to the hospital for treatment.
Another man, a visitor, said he was checking on a crying baby when he felt a gun on his forehead. The men also zip-tied his hands and feet, duct-taped his mouth, stole cash, a necklace, bracelet and his ring, according to the affidavit.
One man kept a gun pointed at him, ordering him not to move.
The homeowner was on his bedroom balcony when he heard “commotion” downstairs. Two men came out, point a gun and demanding cash and jewelry.
He said he didn’t have a lot of cash in the house.
“You have liquor stores,” one man said. “You have a lot of businesses. You have money counting machine here. You have money here.”
The man gave him $500 from his pocket. The bedroom was “already ransacked.”
The robbers “seemed to be already familiar with the (home’s) layout,” the affidavit states.
They ordered the man to his safe in the closet.
“C’mon ... you have some money here,” the first robber said. The man hit the victim with his gun, before the second robber zip-tied his hands. They left him on the closet floor.
“Take whatever you can and let’s go,” the men said in Spanish.
They stuffed a money counting machine in the victim’s black suitcase and took other stuff. The victim waited a minute, before he went to the balcony, got his cell phone and called 911.
He had a cut on head over left eye. He later told police they also took a pricey Breitling watch.
Police learned the first robber was a light-skinned Hispanic, aged 30-40, wearing a green construction vest under a black shirt and pants. He wore a tan cap, mask and blue rubber gloves. The man did “most of the talking” and had a “distinctive” accent and was mostly on the phone.
The second robber was a darker-skinned Hispanic, around 40, wearing the same clothes, aside from a black cap and mask.
Security video and license plate readers put a 2010 brown GMC Terrain and 2017 black Nissan Altima in the area that morning around 8:32 a.m.
Around 1 p.m. the four men are seen on camera leaving the home and getting into the SUV, according to court records.
Chicago Police found and towed the Altima Nov. 12 on the 4100 block of W. Oakdale. They found a black mask and walkie talkies inside.
They found the Terrain Nov. 14 parked on the 2300 block of N. Clybourn. Inside, there were walkie talkies and a birth certificate. The father listed died in 2021, but his booking photos included a photo of Castillo, who matched the first robber’s description.
Chicago Police got a tip after television news ran information from a news release. They learned Castillo had been on the 3700 block of S. Honore in Chicago putting on masks and vests and “loading up” the SUV before the robbery.
Police arrested him. He had a black gun, a fake Puerto Rico driver’s license and a Breitling watch, matching the description of the one stolen from the Munster home.
His cell phone pinged in the area during the robbery and several days before.
On Oct. 27, Castillo texted his daughter: “I’m getting ready to go to the job I’ve been talking about,” he wrote.
“Be safe, always listen to your gut,” she replied. “If you ain’t feeling it listen. If you have no bad vibes then go ahead.”
Post-Tribune
“I want to make sure everyone is okay with money,” he responded.
Investigators picked up references he planned to flee to Columbia soon afterward.
Security cameras appeared to show Castillo bagging vests and an orange hat early morning on Oct. 27 at a Skokie Walmart at the self-checkout, then leaving with the stuff without paying.
He was arrested with a gun on June 6 outside St. Stanislaus Church, 1351 West Evergreen in Chicago. He had been out on bond and cut off his ankle monitor, police noted.
Castillo was arrested Nov. 26 in the home invasion.
He was charged with Level 1 felony burglary, Level 2 felony burglary, Level 2 felony robbery resulting in serious bodily injury, three counts of Level 3 felony armed robbery, and four counts of Level 3 felony criminal confinement.
The other robbers are unidentified. Anyone with more information can leave an anonymous tip with Munster Police at 219-836-6658 or email tnosich@munster.org. | https://www.chicagotribune.com/suburbs/post-tribune/ct-ptb-castillo-st-0131-20240130-xifma3u7pfa6xby3nl45yjve4q-story.html | 2024-01-30T01:41:09Z | blocked_url |
The 2023 offseason did not produce great results for the Jets. Aaron Rodgers getting injured sidelined the most consequential player added, but none of the other major players the team added had a positive impact.
No team bats 1.000 in its decisions. The best teams, however, figure out why they made mistakes and take steps to avoid making them again. On today’s podcast we discuss some of the errors of the last offseason from the Jets and how they avoid these mistakes heading into 2024.
The Jets added multiple wide receivers to join Garrett Wilson. None of them had much of a track record of success prior to coming to New York. That should be a sign for the Jets going forward. The Jets also should look to add players in their prime and do a better job communicating between the coaching staff and the front office.
Thanks for watching and listening. | https://www.ganggreennation.com/2024/1/29/24054867/podcast-how-the-jets-can-learn-from-last-offseasons-mistakes | 2024-01-30T01:46:08Z | blocked_url |
“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” – William O’Neil
It’s been a solid start to the New Year for investors, with all three major U.S. indices well in positive territory for the month of January. We’re heading into the final trading week with the S&P 500 advancing 2.54%, the Nasdaq gaining 2.96%, while the Dow is up 1.11% as of this past Friday’s close.
The multi-month rally off the 2023 October lows has yet to run its course. Both the S&P 500 and Dow Jones Industrial Average notched new all-time highs last week. The Nasdaq hasn’t yet eclipsed its former high, but remains less than 4% away from the pivotal level.
There’s something about buying at record highs that just doesn’t sit well with most investors. Behavioral biases lead them to believe that they can likely buy at cheaper prices in the future. But as we’ll see, new highs have historically been a great time to purchase stocks. And while we certainly can’t guarantee that will be the case this time around, there’s plenty of reasons to suspect we’re in the early innings of a new bull market.
Bull Markets Last Longer Than Bear Markets
It took more than two years for the S&P 500 (SPY - Free Report) to eclipse the highs from January 2022. New highs should be viewed as a sign of strength; it means that stocks are ultimately surpassing levels that met former resistance, and a breakthrough of those levels normally ushers in additional buying pressure.
Image Source: StockCharts
We’re starting to see this now as volume was above-average over the past week, a good sign that the momentum can be sustained. As a general rule, volume flow usually precedes price movement.
Dating back to the 1950s, once those former highs were put in the rearview mirror, bull markets have lasted an average of another 4.5 years. This overlooked fact suggests the potential for more gains ahead that could be substantial. Investors normally underestimate the length and magnitude of bull markets.
In the past, when we’ve eclipsed a new high in the S&P 500 after at least one year (it was more than 2 years this time around), the index performance a year later averages a +14% return and has been higher 93% of the time:
Image Source: Zacks Investment Research
Economic Data Surprises to the Upside
A preliminary estimate of fourth-quarter GDP (released last week) showed that the economy grew at an annualized pace of 3.3% during the period, much faster than the median 2% projection. It’s another data point that suggests consumers ended the year on a strong note. Consumer spending expanded at a 2.8% annual rate; remember, consumer spending accounts for about 70% of U.S. GDP.
Despite the impressive Q4 GDP growth, inflation remained tame. The Fed’s primary inflation gauge (core PCE) rose at a 2% annual rate in the fourth quarter, matching expectations. Markets are expecting rate cuts this year, and the decelerating inflation trend is providing the Fed with ammunition to do just that.
Investors tend to associate rate cuts with a weak outlook and future problems with the economy, but once again, history shows that rate cuts have been good for stocks on average. In the span of over a century, the Dow has rallied an average of 14.4% over the next 12 months following the first rate cut. Perhaps this time around, the economy is on sound footing and the Fed believes the worst of the inflation issue is behind us.
The Fed will conduct its first policy meeting of the year on Tuesday and Wednesday of this week. They’ll hold rates steady (markets are currently pricing in a 98% probability), but a March rate cut is more likely (48%).
Positive Seasonality Supportive of Stocks
We remain the midst of the best 6-month stretch from a seasonality perspective that spans from November through April. This year is also an election year, which is the 2nd best year of the Presidential Cycle. Stocks typically do well in election years, particularly under new Presidents. The S&P 500 has averaged a 12.2% return during election years when a new President has been in office:
Image Source: Zacks Investment Research
Presidential incumbency is an influential phenomenon and considered to be a driving force behind the 4-year Presidential Election Cycle. Dating back to 1950, the S&P 500 is up more than 12% on average in election years when a sitting President is running for re-election, versus about 7% in all election years. When there is an open field (meaning years with no incumbent running for a second term), the S&P 500 has averaged a -1.5% loss.
Adding to the bullish case, in cycles where we’ve experienced negative midterm years (as was the case in 2022), we’ve never had a lower election year since 1950. When midterm years are negative, election years rise 13.2% on average and tend to follow strong pre-election years (which did occur last year).
Bottom Line
Investors would do well to fight the natural wariness of buying new highs, as history shows this is an excellent time to purchase stocks. Backed by a resilient economy and positive seasonality, a new bull market is underway with the potential for significant advancement in the coming months and years.
The Q4 earnings season continues to heat up with some major companies reporting this week including tech titans Apple, Microsoft, Facebook-parent Meta Platforms, Google-parent Alphabet, and Amazon. Make sure you’re taking full advantage of all that Zacks has to offer as we wrap up the first month of the New Year. | https://www.zacks.com/commentary/2216751/the-smart-money-is-buying-all-time-highs---and-why-you-should-too | 2024-01-30T01:47:39Z | blocked_url |
Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, January 29:
Western Digital Corporation (WDC - Free Report) : This data storage company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 26.5% over the last 60 days.
Western Digital's shares gained 39.4% over the last three months compared with the S&P 500’s advance of 17.6%. The company possesses a Momentum Score of A.
QCR Holdings, Inc. (QCRH - Free Report) : This multi-bank holding company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days.
QCR Holdings' shares gained 28.9% over the last three months compared with the S&P 500’s advance of 17.6%. The company possesses a Momentum Score of A.
Sandy Spring Bancorp, Inc. (SASR - Free Report) : This bank holding company for Sandy Spring Bank has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 12.7% over the last 60 days.
Sandy Spring Bancorp's shares gained 27.3% over the last three months compared with the S&P 500’s advance of 17.6%. The company possesses a Momentum Score of A.
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated here.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Western Digital Corporation (WDC) - free report >> | https://www.zacks.com/commentary/2216760/best-momentum-stocks-to-buy-for-january-29th | 2024-01-30T01:47:46Z | blocked_url |
Stocks hitting their 52-week high and delivering consistent performance offer attractive opportunities to investors while building a portfolio. This is because stocks near that level are perceived to be winners. However, stocks touching a new 52-week high are often predisposed to profit-taking, resulting in pullbacks and trend reversals.
Moreover, given the high price, investors often wonder if the stock is overpriced. While the speculations are not absolutely baseless, all stocks hitting a 52-week high are not necessarily overpriced.
In fact, investors might lose out on top gainers in an attempt to avoid the steep prices.
Stocks such as The Goodyear Tire & Rubber Company (GT - Free Report) , Casey's General Stores (CASY - Free Report) , Synovus Financial (SNV - Free Report) , Arch Resources (ARCH - Free Report) and The Bank of New York Mellon (BK - Free Report) are expected to maintain their momentum and keep scaling new highs. Extensive information on a stock is necessary to understand whether or not there is scope for further upside.
Here, we discuss a strategy to find the right stocks. The strategy borrows from the basics of momentum investing. This technique bets on “buy high, sell higher.”
52-Week High: A Good Indicator
Many times, stocks that hit a 52-week high fail to scale higher despite having potential. This is because investors fear that the stocks are overvalued and expect the price to crash.
In fact, overvaluation is natural for most of these stocks as investors’ focus (or willingness to pay a premium) has helped them reach the level. But that does not always indicate an impending decline. Factors such as robust sales, surging profit levels, earnings growth prospects and strategic acquisitions that encouraged investors to bet on these stocks could keep them motivated if there is no tangible negative. In other words, the momentum might continue.
Also, when a string of positive developments dominates the market, investors find their under-reaction unwarranted, even if there are no company-specific driving forces.
Setting the Right Filters
We ran a screen to zero in on 52-week high stocks (trading near the high level) that hold tremendous upside potential. The screen includes parameters to shortlist stocks with strong earnings growth expectations, sturdy value metrics and price momentum.
Moreover, the screen filters stocks that are relatively undervalued compared to their peers in terms of earnings as well as sales, ensuring the continuation of their rally for some time.
Current Price/52 Week High >= .8
This is the ratio between the current price and the highest price at which the stock has traded in the past 52 weeks. A value greater than 0.11 implies that the stock is trading within 20% of its 52-week high range.
% Change Price – 4 Weeks > 0
It ensures that the stock price has moved north over the past four weeks.
% Change Price – 12 Weeks > 0
This metric guarantees a continued upward price momentum for the stock over the past three months as well.
Price/Sales <= XIndMed
The lower, the better.
P/E using F(1) Estimate <= XIndMed
This metric measures the amount an investor puts into a company to obtain one dollar of earnings. It narrows down the list of stocks to those that are undervalued compared to the industry.
One-Year EPS Growth F(1)/F(0) >= XIndMed
This helps choose stocks that have higher growth rates than the industry. This is a meaningful indicator, as decent earnings growth adds to investor optimism.
Zacks Rank =1
No screening is complete without the Zacks Rank, which has proved its worth since its inception. It is a fundamental truth that stocks with a Zacks Rank #1 (Strong Buy) have always managed to brave adversities and beat the market average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Current Price >= 8
This parameter will help screen stocks that are trading at $8 or higher.
Volume – 20 days (shares) >= 100000
The inclusion of this metric ensures that there is a substantial volume of shares, so trading is easier.
Here are five stocks of the 11 that made it through the screen:
The Goodyear Tire & Rubber Company is one of the largest tire manufacturing companies in the world. In addition to selling tires, Goodyear provides other rubber-related chemicals while also offering repair and other services.
With the acquisition of Cooper Tire, Goodyear has strengthened its leadership position in the U.S. market as well as expanded its foothold in the global tire industry. The Goodyear Forward plan, designed to optimize portfolio, enhance margins and reduce leverage, aims to unlock significant value for shareholders. Encouragingly, Goodyear expects operating margins to double by 2025-end. The company's electrification strides also augur well.
The Zacks Consensus Estimate for GT’s 2023 earnings has gained 40% in the past 30 days to 7 cents per share. The company surpassed the Zacks Consensus Estimate once in the trailing four quarters while missing the same thrice, the average surprise being 76.39%.
Casey's General Stores operates convenience stores under the Casey's and Casey's General Store names in 16 states, mainly Iowa, Missouri and Illinois. Casey's offers a comprehensive range of products and services to meet the needs of its customers. In addition to fuel, the stores provide a wide variety of merchandise, including groceries, prepared food, snacks, beverages, tobacco products, health and beauty aids, school supplies, housewares, pet supplies and automotive supplies.
The company’s business operating model, omnichannel capabilities, enhanced customer reach and private-label offerings reinforce its position in the industry. Casey's price and product optimization strategies, increased penetration of private brands, and digital engagements are also commendable. The company’s focus on inventory management, technology advancements and data analytics positions it well for future growth.
The Zacks Consensus Estimate for CASY’s fiscal 2024 earnings has increased 1% to $12.64 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate thrice in the trailing four quarters while missing the same once, the average surprise being 17.79%.
Synovus Financial is a diverse financial services company, which conducts its banking operations through Synovus Bank. Synovus’ organic growth is supported by its relationship banking model. Loans and deposits witnessed a compound annual growth rate of 5.5% and 8.8%, respectively, in the last three years (2019-2022).
Its deposits are well diversified across industries and geographies in Southeast regions. Also, the company’s floating-rate loan portfolio is well positioned in the current high interest-rate regime.
The Zacks Consensus Estimate for SNV’s 2024 earnings has increased 5.5% to $4.03 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate twice in the trailing four quarters while missing the same twice, the average surprise being 1.61%.
Arch Resources is one of the largest coal producers in the United States, operating nine mines across the major coal basins of the country. The company mainly produces and sells metallurgical and thermal coal. The locations of its mines and access to export facilities enable the company to ship coal worldwide.
The company commenced longwall production at the Leer South mine, which will add 3 million tons of high-quality metallurgical coal annually to its total production. The ongoing rebound in production in the steel industry will create fresh demand for met coal supplied by the company.
The Zacks Consensus Estimate for ARCH’s 2023 earnings has increased 4.7% to $27.88 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate twice in the trailing four quarters while missing the same twice, the average surprise being 24.45%.
The Bank of New York Mellon (popularly known as BNY Mellon) is a financial services company that has been in business since 1784. Its global client base consists of financial institutions, corporations, government agencies, endowments and foundations, and high-net-worth individuals.
Higher interest rates are expected to support BNY Mellon’s top-line growth in the near term. Also, global expansion initiatives, robust assets under management balance, business restructuring efforts, solid balance sheet and digitization of operations have aided performance.
The Zacks Consensus Estimate for BK’s 2024 earnings has increased 4.2% to $5.16 per share in the past 30 days. The company surpassed the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 10.62%.
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The Biden administration’s decision to pause approvals for new U.S. projects seeking to export liquefied natural gas has spurred hopes for British Columbia’s long-stalled LNG prospects, even as climate activists urge restraint.
The White House announced the move on Friday, saying there would be a temporary pause on pending decisions on LNG exports. President Joe Biden said in a statement that the U.S. Department of Energy will be taking “a hard look at the impacts of LNG exports on energy costs, America’s energy security and our environment.”
He added that the pause “sees the climate crisis for what it is: the existential threat of our time.”
Curbing the use of natural gas has long been a demand of environmental advocates worried about the fossil fuel’s contribution to climate change, though the LNG industry has often noted that its product generates fewer greenhouse-gas emissions than coal when burned. With the U.S. now in a holding pattern for new approvals, Canada’s producers have an opportunity to fill the supply gap. But the industry is concerned that B.C.’s infrastructure isn’t up to the task.
“B.C.’s natural gas travels nearly 5,000 kilometres across North America to get to export facilities on the Gulf Coast. It’s a ludicrously indirect route that sends our natural gas south of the border,” Karen Ogen, chief executive of the First Nations LNG Alliance, an association of Indigenous communities involved in LNG development in B.C., said in a statement.
“Canadians could be exporting our own natural gas at a fraction of the distance,” Ms. Ogen said. “Canadians – and in particular, Indigenous Canadians – should be the ones to receive the rewards of training, jobs and business opportunities that come with a thriving LNG industry.”
The U.S. has seven operational LNG export terminals. Another five appear likely to open by 2028 because they are already approved. Canada, by contrast, has no export terminals up and running. The first to enter service would be the Shell PLC-led LNG Canada project in Kitimat, B.C., which is scheduled to begin loading tankers with fuel bound for Asia by 2025.
Two Canada-based producers – Tourmaline Oil Corp. TOU-T and ARC Resources Ltd. ARX-T – have deals to supply natural gas to Cheniere Energy Inc.’s LNG-A Corpus Christi LNG export terminal in Texas, though their ability to transport the fuel is limited by Canada-U.S. pipeline capacity.
Over the past decade, Canadian natural-gas pipeline giants Enbridge Inc. ENB-T and TC Energy Corp. TRP-T have been on the defensive at home, but have been able to expand their pipeline networks into the U.S. Gulf Coast.
Ten years ago, there were more than 20 proposals in B.C. to export LNG. Today, despite much hype, LNG Canada is the only project that has progressed significantly, and only four other B.C. export projects are in early stages: Cedar LNG in Kitimat; Ksi Lisims LNG on Pearse Island; Woodfibre LNG near Squamish; and FortisBC’s planned expansion at its Tilbury LNG site in Delta.
“This isn’t just about building big projects, it’s about lifting our Indigenous communities out of poverty,” Ms. Ogen said.
Climate activists in Canada praised Mr. Biden’s decision and urged B.C. Premier David Eby to reject LNG expansion plans in the province. Mr. Eby’s NDP government will be seeking re-election in October.
“True climate leadership means saying no to fossil fuel infrastructure,” Peter McCartney, a climate campaigner at the Wilderness Committee, said in a statement.
The provincial government has been attempting with policy measures to reduce the LNG industry’s environmental impact. Last year, B.C. introduced environmental standards for LNG projects, as part of a bid to reduce the province’s emissions to net-zero.
At the BC Natural Resources Forum in Prince George earlier this month, Mr. Eby reiterated his view that LNG has a role to play in the energy transition. “Our partners in LNG Canada, for example, and other major projects are going to continue to be our partners,” he said.
Teresa Waddington, LNG Canada’s vice-president of corporate relations, said in an e-mail that the shipping distance to Asia from Kitimat is about 50 per cent shorter than the route to Asia from the U.S. Gulf Coast.
LNG Canada’s terminal will be supplied with natural gas by Coastal GasLink, a 670-kilometre pipeline from northeast B.C., to be operated by TC Energy. About 190 kilometres of the pipeline route cross the unceded traditional territory of the Wet’suwet’en Nation, whose hereditary chiefs oppose the project and say they have jurisdiction over the territory.
“The LNG Canada export facility is now more than 90 per cent complete overall,” Ms. Waddington said. “GHG emissions from LNG Canada’s Kitimat operation will be lower than any facility of a similar size operating in the world today: 35 per cent lower than the world’s best-performing facilities.”
The owners of LNG Canada are considering whether to pursue a proposed expansion, once the terminal’s initial phase of construction is complete.
B.C.’s other potential LNG export projects are at various early stages. Cedar LNG is led by the Haisla Nation, together with co-owner Pembina Pipeline Corp. They expect to make a final decision by the end of March on whether to forge ahead with their planned floating production facility, which would use hydroelectricity to help supercool natural gas into liquid form.
The elected Lax Kw’alaams Band opposes Ksi Lisims, and has cast doubt on the LNG project’s goal of net-zero emissions. | https://www.theglobeandmail.com/business/article-lng-bc-biden-climate-activists/ | 2024-01-30T01:49:36Z | blocked_url |
Residents and businesses in Edmonton and the surrounding area were told Monday to limit their water use.
Epcor issued a mandatory ban on non-essential water use after a failure in the distribution pumping system at the E.L. Smith Water Treatment Plant in the morning.
“This mandated water ban includes all surrounding communities that Epcor provides water to, so that’s Edmonton and surrounding communities such as St. Albert, Sherwood Park, Stony Plain, Spruce Grove, Beaumont, Leduc, Fort Saskatchewan, amongst others,” said Craig Bonneville, the company’s director of engineering and technical services.
Epcor said in a press release that the Rossdale plant remained operational but can’t supply the entire service area with normal water consumption.
There was no timeline for when repairs were to be completed, though Epcor said drinking water remained safe.
People were told to take measures such as delaying laundry and turning taps off while brushing teeth. Businesses like laundromats and car washes that use large volumes of non-essential water were asked to halt water use.
“Businesses using water to provide an essential product for life-sustaining needs are exempt from these measures,” Bonneville said.
“Other exemptions could include businesses that must use water to meet health codes, such as hospitals.” | https://www.theglobeandmail.com/canada/alberta/article-epcor-issues-ban-on-non-essential-water-use-in-edmonton-area-due-to/ | 2024-01-30T01:49:42Z | blocked_url |
Ontario is proceeding with a massive, multibillion-dollar refurbishment of four aging nuclear reactors at its Pickering power plant east of Toronto, according to two provincial government sources.
The decision will be formally unveiled by Ontario Energy Minister Todd Smith at the facility in Pickering on Tuesday, a senior government source said. This would mark the government’s latest major move to preserve and expand the province’s reactor fleet.
Another government official said the province has approved a $2-billion budget for Ontario Power Generation, the plant’s owner, to complete the necessary engineering and design work and order crucial components, which can require years to manufacture. The Globe and Mail is not naming the sources, because they were not authorized to speak publicly about the decision.
No full cost estimate for the project has been revealed. Refurbishments under way at OPG’s Darlington nuclear plant in Clarington, and at Bruce Power’s station in Tiverton, have cost between $2-billion and more than $3-billion a reactor.
Mr. Smith’s announcement had been expected. In 2022, the province asked OPG to study the feasibility of refurbishing the four Pickering “B” units, which entered service in the mid-1980s and had previously been passed over for refurbishment 15 years ago. Mr. Smith received OPG’s report last summer, but his ministry rebuffed a request from this newspaper to release it under the province’s freedom of information legislation.
The Pickering station, situated on the shore of Lake Ontario about 30 kilometres from downtown Toronto, generates about 15 per cent of Ontario’s power. It also includes the four 1970s-era Pickering “A” reactors, which are not currently being considered for refurbishment. Two have been dormant for decades after an aborted refurbishment, and the remaining two are scheduled to shut down permanently this year.
OPG’s current licence for Pickering B allows its reactors to operate only to the end of this year. OPG has applied to the Canadian Nuclear Safety Commission, which regulates the industry, for permission to operate them until late 2026. CNSC approval would also be required for a refurbishment.
Refurbishment involves replacing major components to extend reactors’ operating lives by 30 years, although the list of required upgrades varies from station to station. Subo Sinnathamby, OPG’s chief projects officer, told The Globe earlier this month that, if the project were approved, OPG would begin Pickering’s refurbishment in 2028, with the goal of returning its reactors to service by the mid-2030s. Previous refurbishments have unfolded over longer periods.
“It is a compressed timeline,” she acknowledged. But she added that this time OPG will benefit from the experience it and its contractors and suppliers gained during previous refurbishments. | https://www.theglobeandmail.com/canada/article-ontario-pickering-nuclear-reactor/ | 2024-01-30T01:49:48Z | blocked_url |
The overall earnings for the semiconductor industry this earnings season is expected to be better than the year-ago quarter. After a challenging period marked by economic headwinds and disruptions in the supply chain, semiconductor stocks appear to be on the brink of a significant comeback, fueled by a steady increase in sales.
The semiconductor market grappled with challenges arising from pandemic-induced disruptions in the supply chain and the Federal Reserve's stringent monetary policies, which subdued demand and led to a decline in sales. However, with the easing of inflationary pressures and a gradual recovery in demand, the industry has been on an upward trajectory since the second quarter of 2023.
The advent of generative AI has further attracted investments. The technology has already proven beneficial across a variety of industries, including marketing, advertising, customer service, education, content creation, healthcare, automotive, energy and utilities and video game development.
The growing proliferation of generative AI has boosted the demand for chips, benefiting semiconductor sales. According to the latest data released by the Semiconductor Industry Association, global semiconductor sales grew 5.3% to $48 billion in November 2023, marking the first year-over-year increase since August 2022. This year-over-year rise also came after eight consecutive months of sequential growth, signifying a strong recovery.
How to Make the Right Choice?
With the presence of several industry participants, finding the right tech stocks with the potential to beat on earnings can be daunting. However, our proprietary methodology makes this task fairly simple.
You could narrow down your choices by looking at stocks that have the perfect combination of two key elements — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
Earnings ESP is our proprietary methodology for determining stocks that have maximum chances of beating estimates in their next earnings announcement. It is the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our research shows that for stocks with this favorable mix of ingredients, the odds of a positive earnings surprise are as high as 70%.
4 Semiconductor Stocks That Match the Criteria
Silicon Motion Technology (SIMO - Free Report) has an Earnings ESP of +4.92% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to report its fourth-quarter 2023 results on Feb 6. The Zacks Consensus Estimate for earnings has increased 5 cents upward to 76 cents per share over the past 30 days.
NVIDIA Corporation (NVDA - Free Report) has an Earnings ESP of +3.68% and currently has a Zacks Rank of 2.
The company is scheduled to report its fourth-quarter fiscal 2024 results on Feb 21. The Zacks Consensus Estimate for earnings has increased by a penny to $4.49 per share over the past 30 days.
Allegro MicroSystems (ALGM - Free Report) currently has an Earnings ESP of +1.16% and a Zacks Rank #3.
The company is set to report third-quarter fiscal 2024 results on Feb 1. The consensus mark for earnings has been steady at 29 cents per share over the past 60 days.
Ambarella (AMBA - Free Report) is expected to report fourth-quarter fiscal 2024 results on Feb 27. The company has an Earnings ESP of +0.60% and a Zacks Rank of 3.
The consensus estimate for the bottom line is pegged at a loss of 33 cents per share, 5 cents narrower than the loss of 38 cents expected 60 days ago.
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The Liberals and Conservatives sharpened their attacks in the House of Commons on Monday, with Pierre Poilievre charging that under Justin Trudeau’s government people are starving, while the minority government accused his party of crying “crocodile tears” for struggling Canadians.
The attacks were levelled in the first Question Period of the winter sitting. As MPs returned to Parliament, the Liberals, Conservatives and NDP tried to stake out their positions as the party most dedicated to the affordability crisis. The government suggested the Competition Bureau use its new subpoena powers to study the grocery market, the NDP called for an emergency debate on housing, and the Conservatives doubled down on their demands the government axe the carbon tax.
“I would like to welcome the Prime Minister back,” Mr. Poilievre said in reference to Mr. Trudeau’s gifted vacation to a Jamaican resort over New Year’s.
“Given that he gives himself a free vacation at other people’s expense, will he at least allow Canadians to heat their homes without his tax?” he asked.
In the flurry of responses to carbon price questions, Mr. Trudeau attacked the opposition party for failing to present a climate plan and defended the carbon price and its accompanying rebate. The Prime Minister also questioned whether individual Tories supported the Conservative’s decision to vote against issues they had previously championed.
“While the Conservative Leader is muzzling his own caucus and putting himself first, we will keep putting Canadians first,” Mr. Trudeau replied.
But Mr. Poilievre countered that it was backbench Liberal MP Ken McDonald who has been muzzled. The Newfoundland and Labrador MP called for a leadership review of Mr. Trudeau last week but recanted after having a conversation with the Liberal party whip.
That demand overshadowed the government’s caucus retreat, which was aimed at mapping out a strategy for the Liberals as they try to claw their way back from a double-digit drop in the polls and counter a buoyed Conservative Party.
But at the end of those meetings, Liberals insisted they were united and promised to present a pointier contrast with the Conservatives. Political scientist and Dalhousie University professor Lori Turnbull said the shift was exemplified in Monday’s Question Period.
“The increased edginess is on purpose,” Prof. Turnbull said, describing the atmosphere in the House as toxic.
In one exchange, Conservative House Leader Andrew Scheer described Mr. Trudeau as being “pathologically obsessed” with the carbon price policy, at the expense of Canadians who are struggling to put food on the table.
“When the Conservatives talk about working families, everyone knows that those are crocodile tears,” Deputy Prime Minister Chrystia Freeland countered, pointing to the party’s opposition to the Liberal’s child-care program.
Prof. Turnbull said the dramatic lead the Conservatives hold in the polls shows how big the challenge is for the Prime Minister, who is seeking a fourth consecutive mandate and has already served eight years in government.
“He’s increasingly on the defence and not just for the government, but for himself,” Prof. Turnbull said.
She said decisions like Mr. Trudeau accepting a free vacation to Jamaica over the holidays amplifies questions about his judgment. “I don’t think he sees how this comes across, and he doesn’t see this as the liability that it is,” Prof. Turnbull said.
Despite the leadership discontent that went public last week, Ms. Freeland told reporters that during the cabinet and caucus retreats last week, Mr. Trudeau reiterated to his colleagues that he’s staying.
“The Prime Minister was very clear, as he has been, that he intends to lead our party in the next election. He has my full support,” she said.
Ms. Freeland, Housing Minister Sean Fraser, Industry Minister François-Philippe Champagne and Treasury Board president Anita Anand have all been touted as possible leadership successors. None of them answered The Globe and Mail’s question Monday about whether they are considering a bid for the top job. | https://www.theglobeandmail.com/politics/article-liberals-conservatives-sharpen-attacks-as-mps-return-to-the-house-of/ | 2024-01-30T01:49:54Z | blocked_url |
After securing a provincial title with a three-man lineup, the members of Team Glenn Howard will be Regina-bound in about a month to play in the Montana’s Brier.
What remains uncertain is whether the short-handed crew will add a player – and if so, who – for the Canadian men’s curling championship.
Howard’s status remains uncertain due to lingering pain in his surgically repaired left knee. Son Scott Howard skipped the team to victory at last week’s Ontario playdowns and will likely throw last stone again at the March 1-10 nationals at Brandt Centre.
“Over the next little while – probably a week or so – we’re going to start batting out some names and see who [might] fit that mould for our team to give us the best chance to hopefully win this thing,” Scott said.
The elder Howard served as a coach last week in the London, Ont., suburb of Dorchester. He hasn’t played a competitive game in almost two months and remains out indefinitely.
Scott ran the table in his place and made a draw to the button for an 8-7 extra-end win over Jayden King in the final.
“The best part is I felt so confident,” Scott said Monday. “I felt comfortable actually the whole week skipping and having that last rock.”
The younger Howard usually plays third but has skipped on occasion over the years. He also guided the team to victory at a bonspiel last month in Penticton, B.C., when Glenn’s knee “seized up” midway through the event.
The Penetanguishene, Ont.,-based side, which also includes lead Tim March and second David Mathers, does not use a regular fifth player. Adam Spencer and Wayne Middaugh have served as team alternates on occasion in the past.
If the team decides to add a player, it can pick up anyone who played in the Ontario championship or any free agent who hasn’t competed in another provincial/territorial playdown this season, a Curling Canada spokesperson said in an e-mail.
Three-man squads are used infrequently in team curling but sometimes can be quite effective.
One of the more notable examples came in 2022 when Brad Gushue won the Brier without vice Mark Nichols, who missed the final weekend due to a positive COVID-19 test.
However, the Brier is a 10-day competition from start to finish. The physical toll on a short-handed squad would be more significant than at a shorter event like a provincial playdown or a Grand Slam.
Last week, March threw the first three rocks of each end for the team before sweeping the next five. His body “took a pretty big beating,” Scott said, adding that physiotherapy was needed after every game.
“It’s not like you get a break here or there being the opposite-side sweeper,” Scott said. “He’s sweeping hard every single rock … throughout 10 ends, it’s a daunting task for sure.”
Defending champion Brad Gushue of St. John’s, Calgary’s Brendan Bottcher and Winnipeg’s Matt Dunstone are some of the Brier headliners. The full 18-team field will be finalized Feb. 11.
Also Monday, Curling Canada released the draw for the Feb. 16-25 Scotties Tournament of Hearts in Calgary.
Canada skip Kerri Einarson, who’s aiming to win a record fifth straight Hearts crown, will open against Quebec’s Laurie St-Georges at the WinSport Event Centre.
Winnipeg’s Kate Cameron and Corryn Brown of Kamloops, B.C., rounded out the 18-team field based on their positions in the Canadian rankings.
Winnipeg’s Jolene Campbell missed the cutline by just 1.25 ranking points. | https://www.theglobeandmail.com/sports/article-three-man-howard-team-secures-brier-berth-now-its-decision-time-ahead/ | 2024-01-30T01:50:00Z | blocked_url |
Toronto star Vladimir Guerrero Jr. headlines 18 players scheduled for salary arbitration hearings that start Tuesday and run through Feb. 16 in Scottsdale, Arizona.
Guerrero has asked for US$19.9-million and been offered US$18.05-million by the Blue Jays. If the case doesn’t settle, it would be the highest salary awarded in arbitration win or lose, topping the US$14-million Seattle outfielder Teoscar Hernández received after he lost his hearing last year.
A total of 198 players were eligible for arbitration after the November deadline for teams to tender 2024 contracts to unsigned players on their 40-man rosters, and most reached agreements on Jan. 11, when teams and players exchanged proposed salaries. The highest deal was a US$31-million, one-year contract between Juan Soto and the New York Yankees, who acquired the outfielder from San Diego last month.
For players and teams unable to reach agreements, hearings will be held before three-person panels.
Baltimore left-hander Danny Coulombe avoided a hearing when he agreed Monday to a one-year contract with the Orioles guaranteeing US$2.3-million.
Adolis García and Texas have the largest gap at US$1.9*million, with the outfielder asking for US$6.9-million and the team offering US$5-million.
Right-hander Casey Mize and Detroit had the smallest gap among the 22 players who exchanged proposed salaries but then agreed to a one-year contract guaranteeing US$840,000 – an $830,000 salary for this year and a US$3.1-million team option for 2025 with a US$10,000 buyout. The pitcher had asked for US$840,000 and had been offered US$815,000.
Also slated for hearings are Baltimore right-hander Jacob Webb ($1 million vs. $925,000), outfielder Austin Hays ($6.3 million vs. $5.85 million) and first baseman/outfielder Ryan O’Hearn ($3.8 million vs. $3.2 million); Houston infielder/outfielder Mauricio Dubón ($3.5 million vs. $3 million); Los Angeles left-hander José Suarez ($1.35 million vs. $925,000) and outfielder Taylor Ward ($4.8 million vs $4.3 million); Minnesota infielder/outfielder Nick Gordon ($1.25 million vs. $900,000); Tampa Bay outfielder Harold Ramírez ($4.3 million vs. $3.8 million) and right-hander Jason Adam ($3.25 million vs. $2.7 million); Cincinnati second baseman Jonathan India ($4 million vs. $3.2 million); Miami second baseman Luis Arraez ($12 million vs. $10.6 million), centrefielder Jazz Chisholm Jr. ($2.9 million vs. $2,625,000) and left-hander Tanner Scott ($5.7 million vs. $5.15 million); New York Mets right-hander Phil Bickford ($900,000 vs. $815,000); Philadelphia third baseman Alec Bohm ($4 million vs. $3.4 million); and San Francisco third baseman J.D. Davis ($6.9 million vs. $6.55 million).
Ramírez and Adam will be trying to win for the second straight year.
Teams have won the majority of decisions for four straight years, going 13-6 in 2023. They lead players 347-257 since arbitration started in 1974. | https://www.theglobeandmail.com/sports/article-vladimir-guerrero-jr-headlines-18-players-scheduled-for-salary/ | 2024-01-30T01:50:06Z | blocked_url |
Dave Dickenson will have two newcomers to his Calgary Stampeders coaching staff this season.
Dickenson, Calgary’s head coach and general manager, unveiled his 2024 staff Monday and it includes Andre Bolduc (running backs) and Ryan Williams (quarterbacks).
Bolduc, of Alma, Que., has previous coaching experience with the Montreal Alouettes and Saskatchewan Roughriders and also played six CFL seasons as a receiver with Ottawa, Edmonton and Montreal.
Williams spent the previous six years at the University of Georgia (NCAA champions in 2021 and ’22). He played quarterback at Memphis and Miami before signing with the NFL’s Green Bay Packers as an undrafted free agent in 2016.
Nik Lewis, Juwan Simpson and Des Catellier all return for their second seasons as receivers coach, defensive line coach and offensive/special-teams assistant, respectively.
Mark Kilam, Calgary’s special-teams co-ordinator and assistant head coach, returns for a 20th season in Calgary. Defensive co-ordinator Brent Monson and Pat DelMonaco – the Stampeders offensive co-ordinator and offensive-line coach – are back for their 15th and 11th seasons, respectively.
Dwayne Cameron will enter his fifth season as the squad’s defensive backs coach and draft co-ordinator while linebackers coach Bob Slowick returns for a fourth campaign. | https://www.theglobeandmail.com/sports/football/article-andre-bolduc-ryan-williams-join-calgary-stampeders-coaching-staff/ | 2024-01-30T01:50:12Z | blocked_url |
One of the largest and most well-known asset management stocks — BlackRock (BLK - Free Report) — kicked off fourth-quarter earnings on Jan 12. In a challenging operating environment, BLK handily surpassed the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) balance more than offset a rise in total expenses. In an effort to capitalize on an accelerating demand for infrastructure investment, it announced an agreement to acquire Global Infrastructure Partners for $3 billion in cash and around 12 million shares of BlackRock common stock.
In the fourth quarter of 2023, the industry players continued to face a challenging operating backdrop, though, in the later part of the quarter, some clarity on the Federal Reserve’s interest rate path offered support. We are using our proprietary methodology to find stocks that are poised to outpace the Zacks Consensus Estimate in the fourth quarter. By using the Zacks Stock Screener, we have identified three such asset management stocks — SEI Investments Company (SEIC - Free Report) , T. Rowe Price Group, Inc. (TROW - Free Report) and Principal Financial Group, Inc. (PFG - Free Report) .
These stocks have the ideal combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — to surpass expectations. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our proprietary methodology, Earnings ESP, shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Research shows that for stocks with this combination of rank and ESP, chances of a positive earnings surprise are as high as 70%.
Before we go into the details regarding the abovementioned asset managers, let’s first understand the factors that are likely to have influenced quarterly performance.
The performance of equity markets during the fourth quarter was robust. The S&P 500 Index gained 11.2% in the quarter, driven by the central bank’s signal of no further hike in rates this cycle, three interest rate cuts in 2024 and fading near-term recession risks. Thus, the market value of assets witnessed a rise, supporting performance fees.
Further, as the U.S. dollar lost some value, FX favorably impacted the asset managers’ performance. All these supported the asset price and also resulted in net inflows.
On the cost front, as asset managers continue to optimize operations through digital initiatives, expenses are likely to have been manageable. However, fears of an economic slowdown are likely to have driven cost-cutting measures among many industry players, which might have led to one-time restructuring expenses.
Q4 Earnings Expectations
The Zacks Finance sector’s (of which asset management is part) earnings are projected to rise 9.9% year over year in the fourth quarter. This compares with the 9.7% increase recorded in the third quarter of 2023.
(For a detailed look at the earnings growth projections for this sector and others, please read our Earnings Preview.)
3 Potential Safe Bets
SEI Investments, based in Oaks, PA, is a leading provider of wealth management business solutions in the financial services industry. The company offers investment processing, management and operations solutions globally.
Similar to other industry players, SEIC is likely to have benefited from solid equity market performance in the to-be-reported quarter. This is likely to have aided the company’s inflows and AUM balance.
SEI Investments is scheduled to announce results on Jan 31 after market close. The Zacks Consensus Estimate for its fourth-quarter earnings of 91 cents per share implies a rise of 9.6% from the year-ago reported figure. SEIC has an Earnings ESP of +0.64% and a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
T. Rowe Price, based in Baltimore, is a global investment management organization that provides a broad array of mutual funds, sub-advisory services and separate account management for individual and institutional investors, retirement plans and financial intermediaries.
TROW continues to focus on fortifying its business by enhancing investment capabilities, broadening distribution reach and investing in new product offerings, which will support revenue growth. The company reported a Dec 31, 2023 preliminary AUM balance of $1.45 trillion. Though it has improved on a year-over-year basis, the company recorded preliminary net outflows of $28.3 billion during the fourth quarter. Thus, this is likely to have marred the company’s performance fee to some extent.
T. Rowe Price is slated to announce results on Feb 8 before market open. The Zacks Consensus Estimate for the company’s fourth-quarter earnings is pegged at $1.60, implying a fall of 8.1% year over year. TROW has an Earnings ESP of +1.33% and a Zacks Rank #3.
Des Moines, Iowa-based Principal Financial is a leader in global investment management, offering a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies.
PFG’s operations capitalize on the extensive distribution footprint, best-in-class solutions, strategic buyouts and operational discipline. As the uncertainty over the macroeconomic backdrop was over, the performance of equity markets improved in the fourth quarter of 2023. Thus, like other industry players, the company is likely to have witnessed improvement in the inflow and a rise in the AUM balance.
Principal Financial is scheduled to announce fourth-quarter and full-year 2023 numbers on Feb 12 after the closing bell. The Zacks Consensus Estimate for fourth-quarter earnings of $1.70 indicates no change from the prior-year quarter. PFG has an Earnings ESP of +2.00% and a Zacks Rank #3.
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BlackRock, Inc. (BLK) - free report >>
T. Rowe Price Group, Inc. (TROW) - free report >> | https://www.zacks.com/stock/news/2216896/3-asset-management-stocks-set-to-pull-off-earnings-beat-in-q4 | 2024-01-30T01:50:15Z | blocked_url |
Time has done little to erase Theo Benedet’s disappointment.
On Nov. 25, the towering University of British Columbia tackle capped a decorated college football career playing in the Vanier Cup. But there wouldn’t be a storybook ending as the Montreal Carabins got past the Thunderbirds 16-9 at Richardson Stadium in Kingston, Ont.
Two months later, the sting of that defeat still lingers.
“Oh, it’s still there,” Benedet said during a telephone interview. “It’s obviously tough still at this point to look back on the season and feel good about it given the way it ended.”
At least, though, there promises to be more football in Benedet’s future.
The native of North Vancouver, B.C., was ranked No. 2 last week on the CFL Scouting Bureau’s top-20 winter list for the ’24 draft. The 6-foot-7, 305-pound offensive lineman has also garnered attention south of the border, having played in the College Gridiron Showcase earlier this month in Texas after suiting up for the 2023 East-West Shrine Bowl.
The NFL draft is slated for April 25-27 in Detroit, and even if Benedet isn’t selected he could sign with a club as an undrafted free agent. The date of the CFL draft hasn’t been released yet but it traditionally follows the NFL's.
“To have interest on both sides of the border is perfect at this point,” Benedet said. “No matter what happens I know I'll have a place to play football next year and that’s really all I want.”
The prospect of waiting over three months for clarity on where he'll play next doesn’t bother Benedet, especially considering just how fast the last five years went by at UBC.
“It’s crazy,” he said with a chuckle. “It’s definitely surreal how far I've come.
“I came just hoping to play college football and get on the field and now all of this has happened. It’s insane, really.”
Benedet was a starter at UBC since his rookie campaign in 2019. Last year, he helped the Thunderbirds reach the Vanier Cup for the first time since 2015.
The 2023 season was another stellar one for Benedet. He captured the J.P. Metras Trophy as Canadian university’s football’s top down lineman for a second straight year, becoming the first offensive lineman to do so and just the third player overall.
And for a second straight year, Benedet secured All-Canadian honours. He also said the experience of playing in the two American college all-star contests really helped him elevate his game.
“They've been huge for me,” he said. “When I went to the Shrine game last year, it was knowing I was almost certainly going to come back to school so it was a chance to be around professional coaches and find places where I could improve.
“I came back this year understanding how to play without the yard [between offensive/defensive line in Canada], how to get out of my stance and use my hands better. And then at the Gridiron Showcase, I think I implemented a lot of those things and did really well and so to be able to show I could do well against Americans has helped me a lot.”
Benedet will audition for pro scouts at UBC’s pro day sometime in March. He’s been able to concentrate fully on training after having put the finishing touches on his history degree, meaning he'll be able to graduate in May.
“I planned it that way so I'd be able to focus on training and not also have to worry about school,” he said. “And now, my mom is happy because I finished my degree.”
While the prospect of playing pro football is enticing, Benedet has bittersweet emotions about leaving UBC.
“To have it end without a championship is tough,” he said. “But I look back at least fondly on the bonds I created with teammates there and what we were able to accomplish.”
He added playing for Thunderbirds head coach Blake Nill has prepared him well for whatever lies ahead.
“Coach Nill has instilled so much in me about understanding the importance of hard work,” Benedet said. “He always talks about the integrity of the game, how you can’t cheat it and that at the end of the day the truth will catch up to you if you’re not working hard.
“Obviously I’ve learned so much football stuff regarding technique but in the long-term that’s what I’ll take with me. For everything he’s done for me, it would’ve been nice to pay him back with [Vanier Cup championship] but unfortunately just wasn’t meant to be.” | https://www.theglobeandmail.com/sports/football/article-benedet-dealing-with-disappointment-of-ubcs-vanier-cup-loss-eyeing-pro/ | 2024-01-30T01:50:20Z | blocked_url |
It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.
The easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.
Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.
MassMutual Select Small Cap Growth Equity A (MMGEX - Free Report) : 1.42% expense ratio and 0.8% management fee. MMGEX is a Small Cap Growth mutual fund building their portfolio around stocks with market caps under $2 billion and large growth opportunities. With annual returns of 12.14% over the last five years, this fund is a winner.
MainStay Large Cap Growth Investor (MLINX - Free Report) . Expense ratio: 1.21%. Management fee: 0.61%. MLINX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. This fund has managed to produce a robust 17.25% over the last five years.
T. Rowe Price Value Adviser (PAVLX - Free Report) : 0.94% expense ratio and 0.56% management fee. PAVLX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. With a five-year annual return of 12.2%, this fund is a well-diversified fund with a long track record of success.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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MainStay Winslow LargeCap Grow Inv (MLINX) - free report >> | https://www.zacks.com/stock/news/2216897/3-top-ranked-mutual-funds-for-your-retirement | 2024-01-30T01:50:21Z | blocked_url |
There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.
How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.
Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.
If you are looking to diversify your portfolio, consider AQR Global Equity Fund N (AQGNX - Free Report) . AQGNX is a Global - Equity mutual fund investing in bigger markets like the U.S., Europe, and Japan; these kinds of funds aren't limited by geography. This fund is a winner, boasting an expense ratio of 1.05%, management fee of 0.6%, and a five-year annualized return track record of 10.51%.
AB Equity Income Z (AUIZX - Free Report) : 0.69% expense ratio and 0.55% management fee. AUIZX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. AUIZX, with annual returns of 12.6% over the last five years, is a well-diversified fund with a long track record of success.
Principal EDGE Midcap Instl (PEDGX - Free Report) : 0.77% expense ratio and 0.65% management fee. PEDGX is a Mid Cap Blend mutual fund, and usually features a portfolio with stocks of various styles and sizes, allowing for diversification within a strategy that focuses on mid cap companies. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 12.29% over the last five years.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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AB Equity Income Z (AUIZX) - free report >> | https://www.zacks.com/stock/news/2216898/are-these-3-top-ranked-mutual-funds-in-your-retirement-portfolio? | 2024-01-30T01:50:27Z | blocked_url |
Dan Campbell’s aggressiveness bit his team.
The Detroit Lions blew a 17-point halftime lead and missed an opportunity to reach the Super Bowl for the first time in franchise history because their head coach stuck to the same philosophy that helped him turn a perennial loser into a championship contender.
Hard to blame Campbell for staying true to himself.
On a Sunday filled with superlative performances by Patrick Mahomes and Travis Kelce in the AFC championship game and a stellar comeback by Brock Purdy and the San Francisco 49ers against the Lions in the NFC title game, Campbell’s fourth-down decisions stole the spotlight.
Even another playoff failure by Lamar Jackson won’t compare to the second-guessing Campbell will surely face throughout the offseason.
Kansas City are heading back to the Super Bowl to face the 49ers with a chance at a rare repeat in a rematch from four years ago.
But much of the talk is focused on Campbell’s gambles.
He was aggressive when the Lions went 3-13-1 in his first season in 2021 and he hasn’t wavered in his go-for-broke approach. The Lions have led the NFL with 62 conversions on fourth down in Campbell’s three seasons.
However, they couldn’t convert when the stakes were highest.
After the 49ers kicked a field goal on the opening drive of the third quarter, the Lions drove into San Francisco’s territory and had a chance to regain their 17-point lead with a 46-yard attempt by Michael Badgley.
But Campbell chose to go for a fourth-and-2 from the 28 instead of taking the field goal. Jared Goff’s pass bounced out of Josh Reynolds’s hands, giving the 49ers some hope.
“I feel like going for it on fourth down a lot will come back to bite you,” Niners edge rusher Nick Bosa said.
Purdy led them on a touchdown drive, tossing a six-yard scoring pass to Brandon Aiyuk. Lions rookie Jahmyr Gibbs fumbled on the next play and Christian McCaffrey ran in from the 1 to tie it at 24-24.
After Jake Moody’s field goal gave San Francisco a 27-24 lead, the Lions faced a fourth-and-3 from the 49ers 30 midway through the fourth quarter. Campbell passed up a shot at a tying field goal and Goff threw an incompletion.
Purdy drove the Niners for another TD that gave them a 10-point cushion and Detroit couldn’t recover an onside kick after closing within 34-31.
“I just felt really good about us converting and getting our momentum and not letting them play long ball,” Campbell explained. “They were bleeding the clock out, and that’s what they do. And, I wanted to get the upper hand back. It’s easy in hindsight, and I get it. I get that. But, I don’t regret those decisions. And, it’s hard. It’s hard because we didn’t come through. It wasn’t able to work out. … And, I understand the scrutiny I’ll get. That’s part of the gig, man. But, it just didn’t work out.”
Campbell, the 6-foot-5, 265-pound former NFL tight end, can handle the criticism. He knew the Lions were underdogs and hadn’t won a road playoff game since capturing their last NFL championship in 1957. Before beating the Rams and Buccaneers this month, they had only one playoff win in the previous 65 seasons.
He wasn’t going to come this close and change his coaching style.
“I told those guys, this may have been our only shot,” Campbell said. “Do I think that? No. Do I believe that? No. However, I know how hard it is to get here. I’m well aware. And it’s gonna be twice as hard to get back to this point next year than it was this year. That’s the reality. And if we don’t have the same hunger and the same work, which is a whole other thing once we get to the offseason, then we got no shot of getting back here.
“I don’t care how much better we get or what we add or what we draft. It’s irrelevant. It’s gonna be tough. Everybody in our division’s gonna be loaded back up. And, you’re not hiding from anybody any more. Everybody’s gonna want a piece of you. Which is fine, you know. Which is fine. So it’s hard. You wanna make the most of every opportunity. And we had an opportunity and we just couldn’t close it out.”
Others will wonder what would’ve happened if Campbell took the points, though field goals of 45-plus yards are no guarantee. He won’t.
The Lions went down doing what they did to get here. | https://www.theglobeandmail.com/sports/football/article-hard-to-blame-dan-campbell-for-staying-true-to-his-aggressive-self/ | 2024-01-30T01:50:26Z | blocked_url |
Tickets on at least one secondary-market site were the most expensive in Super Bowl history on Monday, underscoring the anticipation of the game’s Las Vegas debut between the defending champion and what likely is the most popular team in the West.
Oh, and the great possibility Taylor Swift will be on hand when Kansas City plays the San Francisco 49ers on Feb. 11.
The average purchase price on TickPick was US$9,815 on Monday morning. That’s nearly double the final average price of US$5,795 for last year’s game between Kansas City and Philadelphia Eagles in Glendale, Ariz., although current prices could decline.
It’s also more than the previous high of US$7,046 for the 2021 game in Tampa between the Buccaneers and Kansas City. The stadium was at 33-per-cent capacity because of COVID-19 restrictions, increasing the demand for each ticket.
TickPick’s highest non-COVID Super Bowl was in 2020 at Miami Gardens, Fla., when Kansas City and the Niners met for the first time in the championship game. That average price was US$6,370.
The cheapest ticket on TickPick for this year’s game was US$8,188 on Monday, more than the US$5,997 low price at this point last year.
“Location has always impacted demand for a Super Bowl, but Vegas takes things to a whole other level,” TickPick co-CEO Brett Goldberg said in a statement to the Associated Press. “It’s already the entertainment capital of the world, and could very well become the sports capital of the world after the Super Bowl.
“With both teams having made at least one Super Bowl appearance in the past five years, we would typically expect there to be slight fatigue from fans, in turn causing prices to dip. Instead, we’re seeing demand hit record highs and a big driver being that fans want to experience their team winning a Super Bowl in Vegas.”
StubHub was experiencing similar demand with an average price of tickets sold at US$9,300 on Monday, though that trails the Super Bowl two years ago. The average at the same time was US$9,797 for the game in Inglewood, Calif., when the hometown Los Angeles Rams were preparing to play the Cincinnati Bengals.
The lowest-priced ticket on StubHub for this year’s game was US$6,500.
Sales on that website are 90 per cent greater than last year at this time and 147 per cent greater than the 2020 meeting between Kansas City and San Francisco.
The convenient location for 49ers fans is helping drive demand, with California residents accounting for 26 per cent of tickets sold on StubHub. That’s more than the combined tickets sold to those who live in Nevada (8 per cent) and Kansas or Missouri (7 per cent).
“As predicted, the first Super Bowl in Vegas is seeing strong numbers – sales are nearly double this time last year and early demand has far surpassed the last time Kansas City and San Francisco met in Miami,” StubHub spokesman Adam Budelli said in a statement. | https://www.theglobeandmail.com/sports/football/article-las-vegas-first-super-bowl-is-driving-record-prices-on-the-secondary/ | 2024-01-30T01:50:33Z | blocked_url |
There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.
How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.
Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.
If you are looking to diversify your portfolio, consider American Century Small Cap Value R6 (ASVDX - Free Report) . ASVDX is a Small Cap Value fund, and these funds are known for investing in companies with market caps under $2 billion. This fund is a winner, boasting an expense ratio of 0.74%, management fee of 0.73%, and a five-year annualized return track record of 15%.
Voya Mid Cap Opportunities Portfolio S (ISMOX - Free Report) : 0.91% expense ratio and 0.79% management fee. ISMOX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. ISMOX, with annual returns of 13.42% over the last five years, is a well-diversified fund with a long track record of success.
Transamerica Large Cap Value I2 (TWQZX - Free Report) : 0.63% expense ratio and 0.58% management fee. TWQZX is a part of the Large Cap Value category, and invests in equities with a market capitalization of $10 billion or more, but whose share prices do not reflect their intrinsic value. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 10.4% over the last five years.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.
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Voya Mid Cap Opportunities Port S (ISMOX) - free report >> | https://www.zacks.com/stock/news/2216899/are-these-3-top-ranked-mutual-funds-in-your-retirement-portfolio? | 2024-01-30T01:50:34Z | blocked_url |
Anthony Lanier II will be returning for a fourth season with the Saskatchewan Roughriders.
According to a league source, the six-foot-six, 285-pound defensive lineman signed a one-year contract extension with the CFL club Monday. The source spoke on the condition of anonymity as the Riders haven’t announced the move.
But Saskatchewan did announce Monday that Canadian defensive back Nelson Lokombo, the second player taken in the 2021 CFL draft, had signed a one-year extension with the club.
Both Lanier and Lokombo were slated to become CFL free agents next month.,
Lanier, a 30-year-old Georgia native, has appeared in 35 career regular-season games with Saskatchewan. He has registered 51 tackles, 14 sacks and two forced fumbles.
Lokombo, who played his college football at the University of Saskatchewan, has played in 23 regular-season games (starting five) with the Riders. He has recorded 18 tackles, four special-teams tackles and a forced fumble.
At the University of Saskatchewan, Lokombo earned the Presidents’ Trophy as Canadian university football’s top defensive player.
Winnipeg Blue Bombers agree to extension with Canadian centre Kolankowski
WINNIPEG – The Winnipeg Blue Bombers agreed to terms on a two-year contract extension with Canadian centre Chris Kolankowski on Monday.
Kolankowski was slated to become a free agent Feb. 13.
The six-foot-one, 309-pound Toronto native started all 18 regular-season games last season with Winnipeg. He’s entering his seventh CFL season and fourth with the Blue Bombers.
Kolankowski was originally drafted by the Toronto Argonauts in 2016.
Calgary Stampeders re-sign American defensive back Titus Wall
CALGARY – The Calgary Stampeders re-signed American defensive Titus Wall on Monday.
Wall was slated to become a free agent Feb. 13.
The six-foot, 200-pound Wall has appeared in 22 games over two seasons with Calgary. He has registered 94 tackles (eight for loss), 10 special-teams tackles, four sacks, three forced fumbles, three interceptions and a fumble recovery.
Wall has also scored two defensive touchdowns – one on an interception, the other coming on a fumble return.
Toronto Argonauts re-sign linebacker Jones to contract extension
TORONTO – American linebacker Jonathan Jones signed a contract extension with the Toronto Argonauts on Monday.
Jones was eligible to become a CFL free agent next month.
The five-foot-eleven 230-pound Jones had 49 tackles, 13 special-teams tackles, seven sacks and an interception in 18 regular-season games last year. He joined the Argos as a free agent in 2022, appearing in six games that year.
Jones, 26, played collegiately at both Notre Dame and Toledo. | https://www.theglobeandmail.com/sports/football/article-saskatchewan-roughriders-re-sign-veteran-lanier-to-contract-extension/ | 2024-01-30T01:50:40Z | blocked_url |
The U.S. economy has shown remarkable strength this year, culminating in the S&P 500 Index’s all-time high last week. With three consecutive weeks of gain and 12 out of 13 weeks in positive territory, Wall Street's benchmark has demonstrated resilience.
Following a notable decline in the inflation rate last year, the Federal Reserve responded by initially scaling back the intensity of interest rate hikes and eventually halting them altogether in July 2023. This strategic decision contributed to an impressive 23.9% rally in the S&P 500 Index last year.
Going forward in 2024, the Fed is poised to implement an interest rate reduction. This move is anticipated to be favorable for stock markets, as a lower risk-free interest rate will decrease the discount rate, positively impacting the net present value of equity investments. Bolstered by robust economic growth in the fourth quarter, the outlook for markets in 2024 remains optimistic.
In light of this favorable scenario, astute investors are concentrating on relative price performance, strategically identifying and capitalizing on promising opportunities that offer the potential for accelerated returns.
Relative Price Strength Strategy
Whether a stock has the potential to offer considerable returns is determined primarily by its earnings and valuation ratios. Simultaneously, it is essential to check whether its price performance exceeds its peers or the industry average.
Upon such comparison, if we find that a stock is unable to match up to wider sectoral growth despite having impressive earnings momentum or valuation multiples, it may be better to avoid it.
However, those outperforming their respective industries or benchmarks should be included in your portfolio since they have a higher chance of securing significant returns. Picking a stock that outperforms its peers ensures a winning option on your hands.
Then again, it is imperative that you determine whether or not an investment has relevant upside potential when considering stocks with significant relative price strength. Stocks delivering better than the S&P 500 for 1 to 3 months at least and having solid fundamentals indicate room for growth and are the best ways to go about this strategy.
Finally, it is crucial to find out whether analysts are optimistic about the upcoming earnings of these companies. In order to do this, we have added positive estimate revisions for the current quarter’s (Q1) earnings to our screen. When a stock undergoes an upward revision, it leads to additional price gains.
Screening Parameters
Relative % Price change – 12 weeks greater than 0
Relative % Price change – 4 weeks greater than 0
Relative % Price change – 1 week greater than 0
(We have considered those stocks that have been outperforming the S&P 500 over the last 12 weeks, four weeks and one week.)
% Change (Q1) Est. over 4 Weeks greater than 0: Positive current-quarter estimate revisions over the last four weeks.
Zacks Rank equal to 1: Only Zacks Rank #1 (Strong Buy) stocks — that have returned more than 26% annually over the last 26 years and surpassed the S&P 500 in 23 of the last 26 years — can get through. You can see the complete list of today’s Zacks #1 Rank stocks here.
Current Price greater than or equal to $5 and Average 20-day Volume greater than or equal to 50,000: A minimum price of $5 is a good standard to screen low-priced stocks, while a high trading volume would imply adequate liquidity.
VGM Score less than or equal to B: Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2 (Buy), offer the best upside potential.
Here are five of the seven stocks that made it through the screen:
AZZ Inc. (AZZ - Free Report) : Based in Fort Worth, TX, the company is engaged in the galvanizing and coil coatings business. AZZ’s expected EPS growth rate for three to five years is currently 14%, which compares favorably with the industry's growth rate of 10.9%. The company has a VGM Score of A.
Notably, the 2024 Zacks Consensus Estimate for AZZ indicates 4.9% year-over-year earnings per share growth. The company has a market capitalization of $1.6 billion. AZZ shares have gone up 50.7% in a year.
Universal Technical Institute, Inc. (UTI - Free Report) : Founded in 1965, it operates workplace training programs for professionals in the technical industry and transportation. The fiscal 2024 Zacks Consensus Estimate for this firm indicates 376.9% year-over-year earnings per share growth. Headquartered in Phoenix, AZ, UTI has a VGM Score of B.
Universal Technical Institute beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of roughly 188.5%, on average. UTI shares have risen 104.4% in a year.
Acuity Brands, Inc. (AYI - Free Report) : Based in Atlanta, GA, Acuity Brands specializes in lighting and building management solutions across North America and beyond. Over the past 60 days, this firm saw the Zacks Consensus Estimate for fiscal 2024 move up 10.5%. AYI has a VGM Score of B.
The fiscal 2024 Zacks Consensus Estimate for Acuity Brands indicates 5.3% year-over-year earnings per share growth. It has a trailing four-quarter earnings surprise of roughly 13.9% on average. AYI shares have increased 29.2% in a year.
PACCAR Inc. (PCAR - Free Report) : The company is a leading manufacturer of heavy-duty vehicles in the world and has substantial manufacturing exposure to light/medium trucks. Over the past 60 days, this Bellevue, WA-based firm saw the Zacks Consensus Estimate for 2024 move up 6.6%. PCAR has a VGM Score of A.
PACCAR beat the Zacks Consensus Estimate for earnings in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 17.1%, on average. PCAR shares have increased 40.3% in a year.
The Progressive Corporation (PGR - Free Report) : It is one of the major auto insurers in the country. The 2024 Zacks Consensus Estimate for this firm indicates 40.3% year-over-year earnings per share growth. Headquartered in Mayfield, OH, PGR has a VGM Score of B.
Progressive’s expected EPS growth rate for three to five years is currently 20.9%, which compares favorably with the industry's growth rate of 13.4%. PGR shares have shot up 32.5% in a year.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
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PACCAR Inc. (PCAR) - free report >>
The Progressive Corporation (PGR) - free report >>
AZZ Inc. (AZZ) - free report >> | https://www.zacks.com/stock/news/2216901/5-relative-price-strength-stocks-compelling-enough-to-buy | 2024-01-30T01:50:40Z | blocked_url |
Team captain Marie-Philip Poulin and defender Ella Shelton are among the players looking to build on strong seasons in the Professional Women’s Hockey League when the Rivalry Series between Canada and the United States resumes next month.
Poulin and Shelton were among 24 players selected to Canada’s roster for the final three games of the series, which includes games Feb. 7 in Saskatoon and Feb. 9 in Regina before wrapping up Feb. 11 in St. Paul, Minn.
Poulin, one of the top players in international women’s hockey with three Olympic championship-winning goals to her credit, has continued her success at the club level with Montreal in the inaugural PWHL season.
The Montreal captain entered the week tied for first in the league with six goals in eight games.
Shelton, a defender for New York, scored the first goal in PWHL history in a 4-0 win over Toronto on Jan. 1, leads defenders and is tied for second among all skaters with eight points in eight games.
Fourteen players who competed in Rivalry Series games in Kitchener, Ont. and Sarnia, Ont., in December were named to the roster for the final three games.
Joining Poulin and Shelton as returnees are goaltenders Ann-Renée Desbiens, defenders Ashton Bell, Jaime Bourbonnais, Renata Fast, Jocelyne Laroque and forwards Emily Clark, Brianne Jenner, Emma Maltais, Sarah Nurse, Kristin O’Neill, Laura Stacey and Blayre Turnbull.
Forward Maggie Connors is the lone Rivalry Series rookie on the roster.
The United States leads this year’s series 3-1 and is 13-12 since it started in 2018-19.
Canada:
Goaltenders – Ann-Renée Desbiens, Clermont, Que., Montréal (PWHL); Emerance Maschmeyer, Bruderheim, Alta., Ottawa (PWHL); Corinne Schroeder, Elm Creek, Man., New York (PWHL)
Defenders – Erin Ambrose, Keswick, Ont., Montréal (PWHL); Ashton Bell, Deloraine, Man., Ottawa (PWHL); Jaime Bourbonnais, Mississauga, Ont., New York (PWHL); Jessica DiGirolamo, Mississauga, Boston (PWHL); Renata Fast, Burlington, Ont., Toronto (PWHL); Jocelyne Larocque, Ste. Anne, Man., Toronto (PWHL); Ella Shelton, Ingersoll, Ont., New York (PWHL); Micah Zandee-Hart, Saanichton, B.C., PWHPA
Forwards – Victoria Bach, Milton, Ont., Toronto (PWHL); Emily Clark, Saskatoon, Ottawa (PWHL); Maggie Connors, St. John’s, N.L., Princeton University (ECAC); Jessie Eldridge, Barrie, Ont., New York (PWHL); Brianne Jenner, Oakville, Ont., Ottawa (PWHL); Emma Maltais, Burlington, Ont., Toronto (PWHL); Sarah Nurse, Hamilton, Toronto (PWHL); Kristin O’Neill, Oakville, Montréal (PWHL); Marie-Philip Poulin, Beauceville, Que., Montréal (PWHL); Jamie Lee Rattray, Ottawa, Boston (PWHL); Natalie Spooner, Toronto, PWHPA; Laura Stacey, Kleinburg, Ont., Montréal (PWHL); Blayre Turnbull, Stellarton, N.S., Toronto (PWHL) | https://www.theglobeandmail.com/sports/hockey/article-pwhl-stars-poulin-shelton-headline-canadas-rivalry-series-roster/ | 2024-01-30T01:50:46Z | blocked_url |
Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Eli Lilly?
The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. Eli Lilly (LLY - Free Report) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at $2.77 a share eight days away from its upcoming earnings release on February 6, 2024.
LLY has an Earnings ESP figure of +0.19%, which, as explained above, is calculated by taking the percentage difference between the $2.77 Most Accurate Estimate and the Zacks Consensus Estimate of $2.76. Eli Lilly is one of a large database of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
LLY is just one of a large group of Medical stocks with a positive ESP figure. Merck (MRK - Free Report) is another qualifying stock you may want to consider.
Merck is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on February 1, 2024. MRK's Most Accurate Estimate sits at -$0.07 a share three days from its next earnings release.
The Zacks Consensus Estimate for Merck is -$0.09, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +23.45%.
Because both stocks hold a positive Earnings ESP, LLY and MRK could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >> | https://www.zacks.com/stock/news/2216951/how-to-find-strong-medical-stocks-slated-for-positive-earnings-surprises | 2024-01-30T01:53:59Z | blocked_url |
Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.
Life and the stock market are both about expectations, and rising above what is expected is often rewarded, while falling short can come with negative consequences. Investors might want to try to capture stronger returns by finding positive earnings surprises.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
Bringing together a positive earnings ESP alongside a Zacks Rank #3 (Hold) or better has helped stocks report a positive earnings surprise 70% of the time. Furthermore, by using these parameters, investors have seen 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.
Should You Consider Dutch Bros?
The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. Dutch Bros (BROS - Free Report) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at $0.03 a share 30 days away from its upcoming earnings release on February 28, 2024.
BROS has an Earnings ESP figure of +9.38%, which, as explained above, is calculated by taking the percentage difference between the $0.03 Most Accurate Estimate and the Zacks Consensus Estimate of $0.02. Dutch Bros is one of a large database of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
BROS is just one of a large group of Consumer Staples stocks with a positive ESP figure. Estee Lauder (EL - Free Report) is another qualifying stock you may want to consider.
Estee Lauder is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on February 5, 2024. EL's Most Accurate Estimate sits at $0.57 a share seven days from its next earnings release.
The Zacks Consensus Estimate for Estee Lauder is $0.55, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +3.55%.
Because both stocks hold a positive Earnings ESP, BROS and EL could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >> | https://www.zacks.com/stock/news/2216952/how-to-boost-your-portfolio-with-top-consumer-staples-stocks-set-to-beat-earnings | 2024-01-30T01:54:06Z | blocked_url |
Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.
The Zacks Earnings ESP, Explained
The Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Etsy?
The final step today is to look at a stock that meets our ESP qualifications. Etsy (ETSY - Free Report) earns a #3 (Hold) 30 days from its next quarterly earnings release on February 28, 2024, and its Most Accurate Estimate comes in at $0.80 a share.
Etsy's Earnings ESP sits at +3.17%, which, as explained above, is calculated by taking the percentage difference between the $0.80 Most Accurate Estimate and the Zacks Consensus Estimate of $0.78. ETSY is also part of a large group of stocks that boast a positive ESP. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
ETSY is one of just a large database of Computer and Technology stocks with positive ESPs. Another solid-looking stock is Veeco Instruments (VECO - Free Report) .
Veeco Instruments is a Zacks Rank #1 (Strong Buy) stock, and is getting ready to report earnings on February 14, 2024. VECO's Most Accurate Estimate sits at $0.43 a share 16 days from its next earnings release.
The Zacks Consensus Estimate for Veeco Instruments is $0.43, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +1.18%.
ETSY and VECO's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >> | https://www.zacks.com/stock/news/2216956/how-to-boost-your-portfolio-with-top-computer-and-technology-stocks-set-to-beat-earnings | 2024-01-30T01:54:31Z | blocked_url |
Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.
With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure. The system also utilizes our core Zacks Rank to provide a stronger system for identifying stocks that might beat their next quarterly earnings estimate and possibly see the stock price climb.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Block?
The final step today is to look at a stock that meets our ESP qualifications. Block (SQ - Free Report) earns a #3 (Hold) 24 days from its next quarterly earnings release on February 22, 2024, and its Most Accurate Estimate comes in at $0.62 a share.
Block's Earnings ESP sits at +10.89%, which, as explained above, is calculated by taking the percentage difference between the $0.62 Most Accurate Estimate and the Zacks Consensus Estimate of $0.55. SQ is also part of a large group of stocks that boast a positive ESP. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
SQ is one of just a large database of Business Services stocks with positive ESPs. Another solid-looking stock is Paychex (PAYX - Free Report) .
Paychex, which is readying to report earnings on April 3, 2024, sits at a Zacks Rank #3 (Hold) right now. It's Most Accurate Estimate is currently $1.37 a share, and PAYX is 65 days out from its next earnings report.
Paychex's Earnings ESP figure currently stands at +0.26% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.37.
SQ and PAYX's positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >> | https://www.zacks.com/stock/news/2216957/how-to-find-strong-business-services-stocks-slated-for-positive-earnings-surprises | 2024-01-30T01:54:37Z | blocked_url |
The Pentagon says a drone attack on a U.S. outpost in Jordan left three Americans dead and more than 40 injured.
The early morning attack over the weekend happened at a housing unit while some Americans slept.
It marked the first deadly airstrike against U.S. bases in the Middle East since the Israel-Hamas war began.
Arizona Gov. Katie Hobbs confirmed in a tweet that Arizona National Guardsmen were wounded in the strike.
I am heartbroken to hear reports of the Arizona National Guardsmen wounded in action during the attack in Jordan. I’m actively monitoring the situation and my administration is in contact with AZ NG Adjutant General Muehlenbeck. We are ready to offer support for the Guardsmen and…
— Governor Katie Hobbs (@GovernorHobbs) January 29, 2024
Hobbs says the state is ready to offer support for the guardsmen and their families.
The Arizona National Guard released a statement confirming guardsmen were in the area on January 27, but did not reveal how many.
A spokesperson with the Arizona National Guard confirmed Arizona servicemembers were among the eight people needing evacuation or imminent transport for their injuries.
The servicemembers deployed from Arizona last September for Operation Spartan Shield to advise and assist Jordanian forces.
President Joe Biden blames Iranian-backed militias in Syria and Iraq, and has vowed to retaliate.
Iran is denying any role in the attack.
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/arizona-national-guard-members-among-the-injured-in-jordan-attack | 2024-01-30T01:57:46Z | blocked_url |
Britney Spears isn't being "Toxic" when it comes to her ex Justin Timberlake.
In a Sunday night post to her Instagram, which has now gone private, the pop star issued an apology for some of the stories featuring Timberlake she included in her memoir, "The Woman in Me" — while also showing love for her former boyfriend's new music.
"I wanna apologize for some of the things I wrote about in my book. If I offended any of the people I genuinely care about I am deeply sorry," Spears wrote alongside a video of Timberlake on Thursday's episode of "The Tonight Show Starring Jimmy Fallon." "I also wanted to say I am in love with Justin Timberlake's new song 'Selfish.' It is soo good… PS 'Sanctified is wow too."
The post came a day after Timberlake debuted his gospel-style song "Sanctified" on "Saturday Night Live," where he also performed his upcoming album's lead single, "Selfish." But perhaps more of note, Spears' shout-out to Timberlake's tracks came as her fans have seemingly started a battle for who sang "Selfish" the best.
The day after Timberlake dropped "Selfish" last week, fans rallied to support Spears' 2011 song of the same name, shooting it to No. 1 on the iTunes charts while the former boy bander's single sat at No. 3.
Spears' music videos for her songs "Oops!... I Did It Again" and "I'm a Slave 4 U" also hit the top two spots on iTunes' music videos chart, while Timberlake's "Selfish" music video held third place.
SEE MORE: Reports: Britney Spears had an abortion while dating Justin Timberlake
The fan-induced battle of the exes seemed to draw from their new or renewed disdain toward Timberlake following the release of Spears' memoir last year.
In it, the singer revealed personal details about the pair's three-year relationship, which ended in 2002, including that he urged her to have an abortion — an experience she described as "one of the most agonizing things I have ever experienced in my life."
"Justin definitely wasn't happy about the pregnancy. He said we weren't ready to have a baby in our lives, that we were way too young," Spears wrote in the book. "I don't know if that was the right decision. If it had been left up to me alone, I never would have done it."
Timberlake hasn't commented on the story, but shortly after the story was made public he temporarily disabled his Instagram comments as Spears' fans swarmed with hate, which continues today.
That month, Spears made a now-deleted Instagram post saying she didn't "like the headlines I am reading" and that "most of the book is from 20 years ago … I have moved on."
She continued, saying, "although some might be offended, [writing this book] has given me closure on all things for a better future. Hopefully I can enlighten people who feel particularly alone in most cases or hurt or misunderstood !!!"
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/britney-spears-praises-justin-timberlake-s-new-music-in-apology-post | 2024-01-30T01:57:52Z | blocked_url |
According to the FBI, schools were the third-most common location for hate offenses in 2022 behind homes and residences and then roadways. The numbers speak for themselves.
From 2018 to 2022, more than 5,600 juveniles were reported to be hate crime victims while nearly 6,000 juveniles were reported as hate crime offenders, according to the data.
The most common offense was intimidation, followed by vandalism and then simple assault.
Child psychologist Elizabeth Sather says kids are particularly prone to internalizing these incidents.
"It's much more difficult for children, because children aren't mature enough to understand that the crime that is being committed against them says more about the person committing the crime than it does about them," said Sather.
Hate crimes overall rose steadily from nearly 8,500 in 2018 to more than 13,000 in 2022.
The percentage of hate crimes occurring at schools has varied over the years, from just over 8% in 2018, dropping to nearly 4% in 2020 due to pandemic-related stay-at-home orders, and then back up to 10% in 2022. Sather says it can affect how kids see themselves.
"The most important thing for kids is fitting in — 'Am I part of the larger group? Do people like me?' And I think a crime like that, for a child, has a lot more impact because that identity isn't fully formed yet," she said.
The report looked at the reasons behind the offenses and found the most common were anti-Black or African American. That was followed by antisemitic, then anti-LGBTQ+ offenses.
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/fbi-report-schools-3rd-highest-location-for-hate-crimes-in-2022 | 2024-01-30T01:57:58Z | blocked_url |
Georgia House members passed a bill Monday to revive a commission with powers to discipline and remove prosecutors, a move Democrats warn is aimed at disrupting Fulton County District Attorney Fani Willis' prosecution of former President Donald Trump.
The House voted 95-75 along party lines for House Bill 881, sending it to the Senate for further debate. A similar bill advanced out of a Senate committee last week.
Though Georgia Gov. Brian Kemp signed legislation last year creating the Prosecuting Attorneys Qualifications Commission, it was unable to begin operating after the state Supreme Court in November refused to approve rules governing its conduct. Justices said they had "grave doubts" about their ability to regulate the duties of district attorneys beyond the practice of law. Monday's measure removes the requirement for Supreme Court approval.
"This commission will now be able to begin their real work, which is bringing accountability to those rogue prosecuting attorneys who abuse their office," said Rep. Joseph Gullett, a Dallas Republican who sponsored the measure.
Gullett and some other Republicans deny that the measure is directly aimed at Willis, citing instances of prosecutor misconduct, including occasions in the past when Democrats supported the idea of a prosecutor oversight panel.
But Democratic opposition to the commission has hardened, saying Republicans are trying to overwrite the will of Democratic voters.
"The commission will be able to unilaterally proceed and have the ability to interfere and undermine an ongoing investigation against Donald J. Trump," said House Minority Whip Sam Park, a Lawrenceville Democrat. "You are taking action to protect former President Trump from an ongoing criminal prosecution."
SEE MORE: Judge orders unsealing of divorce case of Trump special prosecutor
Senators on Friday approved a special investigative committee that Republicans say will be used to probe whether Willis has used state money to benefit herself by employing attorney Nathan Wade as a special prosecutor.
Trump on Thursday joined an effort by co-defendant Michael Roman to have Willis, Wade and their offices thrown off the case. Ashleigh Merchant, a lawyer for Roman, filed a motion on Jan. 8 accusing Willis of having an inappropriate romantic relationship with Wade that resulted in a conflict of interest.
Willis has yet to respond publicly to the allegations of a romantic relationship between her and Wade. But she vigorously defended Wade and his qualifications during a Jan. 14 service honoring the Rev. Martin Luther King Jr. at a Black church in Atlanta. She suggested then that questioning of Wade is rooted in racism.
A filing in Wade's divorce case includes credit card statements that show Wade — after he had been hired as a special prosecutor — bought plane tickets in October 2022 for him and Willis to travel to Miami, and bought tickets in April to San Francisco in their names. Republicans allege Willis was improperly motivated by personal benefit in employing Wade.
Kemp has said he prefers that the prosecutor oversight panel and not the Senate committee probe any accusations of misconduct by Willis. But Democrats warn that removing the requirement for the Supreme Court to review rules could leave the commission itself without oversight. The measure also would make it harder for a court to overturn the commission's action by imposing a high standard of review.
"The question we should all ask is who will police this commission," said Rep Tanya Miller, an Atlanta Democrat. "Who will they be accountable to? Certainly not the voters, because they are not elected. This should terrify all of us."
Georgia's law is one of multiple attempts nationwide by Republicans to control prosecutors they don't like. Republicans have inveighed against progressive prosecutors after some have brought fewer drug possession cases and sought shorter prison sentences, arguing Democrats are coddling criminals.
"If you talk to victims across this state of district attorneys who aren't doing their job, you'll recognize why we can't delay this any further," said Rep. Houston Gaines, an Athens Republican.
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/ga-house-votes-to-revive-prosecutor-oversight-as-senate-probes-willis | 2024-01-30T01:58:04Z | blocked_url |
Here's an eye-opening statistic: older Americans are more afraid of running out of money than of death itself.
Also, retirees who have constructed a nest egg have valid justifications to be concerned, since the traditional ways to plan for retirement may mean income can no longer cover expenses. Some retirees are now tapping their principal to make a decent living, pressed for time between decreasing investment balances and longer life expectancies.
Retirement investing approaches of the past don't work today.
Years ago, investors at or close to retirement could put money into fixed-income assets and depend on appealing yields to generate consistent, solid pay streams to fund a comfortable retirement. 10-year Treasury bond rates in the late 1990s floated around 6.50%, but unfortunately, those days of being able to exclusively rely on Treasury yields to fund retirement income are over.
The effect of this drop in rates is substantial: over 20 years, the change in yield for a $1 million investment in 10-year Treasuries is over $1 million.
And lower bond yields aren't the only potential problem seniors are facing. Today's retirees aren't feeling as secure as they once did about Social Security, either. Benefit checks will still be coming for the foreseeable future, but based on current estimates, Social Security funds will run out of money in 2035.
So what can retirees do? You could dramatically reduce your expenses, and go out on a limb hoping your Social Security benefits don't diminish. On the other hand, you could opt for an alternative investment that gives a steady, higher-rate income stream to supplant lessening bond yields.
Invest in Dividend Stocks
We feel that these dividend-paying equities - as long as they are from high-quality, low-risk issuers - can give retirement investors a smart option to replace low-yielding Treasury bonds (or other bonds).
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
Going beyond those familiar names, you can find excellent dividend-paying stocks by following a few guidelines. Look for companies that pay a dividend yield of around 3%, with positive annual dividend growth. The growth rate is key to help combat the effects of inflation.
Here are three dividend-paying stocks retirees should consider for their nest egg portfolio.
BankUnited, Inc. (BKU - Free Report) is currently shelling out a dividend of $0.27 per share, with a dividend yield of 3.61%. This compares to the Banks - Major Regional industry's yield of 3.68% and the S&P 500's yield of 1.6%. The company's annualized dividend growth in the past year was 8%. Check BankUnited, Inc. (BKU - Free Report) dividend history here>>>
IdaCorp (IDA - Free Report) is paying out a dividend of $0.83 per share at the moment, with a dividend yield of 3.59% compared to the Utility - Electric Power industry's yield of 3.59% and the S&P 500's yield. The annualized dividend growth of the company was 5.06% over the past year. Check IdaCorp (IDA - Free Report) dividend history here>>>
Currently paying a dividend of $0.61 per share, Northrim BanCorp (NRIM - Free Report) has a dividend yield of 4.48%. This is compared to the Banks - West industry's yield of 2.54% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 20%. Check Northrim BanCorp (NRIM - Free Report) dividend history here>>>
But aren't stocks generally more risky than bonds?
Yes, that's true. As a broad category, bonds carry less risk than stocks. However, the stocks we are talking about - dividend -paying stocks from high-quality companies - can generate income over time and also mitigate the overall volatility of your portfolio compared to the stock market as a whole.
An upside to adding dividend stocks to your retirement portfolio: they can help lessen the effects of inflation, since many dividend-paying companies (especially blue chip stocks) generally increase their dividends over time.
Thinking about dividend-focused mutual funds or ETFs? Watch out for fees.
If you prefer investing in funds or ETFs compared to individual stocks, you can still pursue a dividend income strategy. However, it's important to know the fees charged by each fund or ETF, which can ultimately reduce your dividend income, working against your strategy. Do your homework and make sure you know the fees charged by any fund before you invest.
Bottom Line
Whether you select high-quality, low-fee funds or stocks, seeking the steady income of dividend-paying equities can potentially offer you a path to a better and more stress-free retirement.
See More Zacks Research for These Tickers
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IDACORP, Inc. (IDA) - free report >> | https://www.zacks.com/stock/news/2216999/improve-your-retirement-income-with-these-3-top-ranked-dividend-stocks | 2024-01-30T01:58:05Z | blocked_url |
A Russian man has been found guilty of being a stowaway on an aircraft after he flew from Copenhagen, Denmark, to Los Angeles International Airport without a ticket, passport or visa in November.
Sergey Vladimirovich Ochigava has been in federal custody since bewildering LAX Customs and Border Protection checkpoint personnel when he arrived via a Scandinavian Airlines flight that had no record of him being a passenger — and neither did any other flight manifest, according to the FBI's criminal complaint.
A three-day trial later revealed that the 46-year-old had "tailgated an unsuspecting passenger through a security turnstile" at the Copenhagen Airport on Nov. 3, the U.S. Attorney's Office in the Central District of California said. The next day, he went through the boarding gate and onto the flight to Los Angeles undetected and without a boarding pass.
SEE MORE: Man with no passport or ticket flew from Copenhagen to Los Angeles
The Scandinavian Airlines flight crew said Ochigava had originally sat in a seat that was supposed to be unoccupied. After takeoff, the complaint states that many crew members watched Ochigava continuously wander around the plane, changing seats and talking to passengers who ignored him. The staff also said he asked for two meals during each meal service and tried to take food that belonged to cabin crew members.
Upon landing, Ochigava gave "false and misleading information about his travel" to the U.S., including saying he left his passport on the plane, the U.S. Attorney's Office said. Customs officers searching his bags had found Russian and Israeli identification cards — where he holds passports — but neither permitted his travel to America. There was also no record of Ochigava in the U.S. State Department's database of visa applications, the complaint said.
On Nov. 5, Ochigava told the FBI he hadn't slept for three days, didn't understand what was happening, wasn't sure if he had a plane ticket to the U.S., didn't remember how he got through security or on the plane and didn't know why he was in Copenhagen to begin with.
Though Ochigava pleaded not guilty to the stowaway charge, the jury's decision on Jan. 26 means he'll face a statutory maximum sentence of five years in federal prison. His sentencing is set for Feb. 5.
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/how-a-russian-man-flew-from-denmark-to-lax-with-no-passport-ticket | 2024-01-30T01:58:10Z | blocked_url |
Believe it or not, seniors fear running out of cash more than they fear dying.
And unfortunately, even retirees who have built a nest egg have good reason to be concerned - with the traditional approaches to retirement planning, income may no longer cover expenses. That means retirees are dipping into principal to make ends meet, setting up a race against time between dwindling investment balances and longer lifespans.
Your parents' retirement investing plan won't cut it today.
Years ago, investors at or close to retirement could put money into fixed-income assets and depend on appealing yields to generate consistent, solid pay streams to fund a comfortable retirement. 10-year Treasury bond rates in the late 1990s floated around 6.50%, but unfortunately, those days of being able to exclusively rely on Treasury yields to fund retirement income are over.
The impact of this rate decline is sizable: over 20 years, the difference in yield for a $1 million investment in 10-year Treasuries is more than $1 million.
In addition to the considerable drop in bond yields, today's retirees are nervous about their future Social Security benefits. Because of certain demographic factors, it's been estimated that the funds that pay the Social Security benefits will run out of money in 2035.
Unfortunately, it looks like the two traditional sources of retirement income - bonds and Social Security - may not be able to adequately meet the needs of present and future retirees. But what if there was another option that could provide a steady, reliable source of income in retirement?
Invest in Dividend Stocks
Dividend-paying stocks from low-risk, high-quality companies are a smart way to generate steady and reliable attractive income streams to replace low risk, low yielding Treasury and bond options.
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
One approach to recognizing appropriate stocks is to look for companies with an average dividend yield of 3% and positive average annual dividend growth. Numerous stocks hike dividends over time, counterbalancing inflation risks.
Here are three dividend-paying stocks retirees should consider for their nest egg portfolio.
The Bank of New York Mellon Corporation (BK - Free Report) is currently shelling out a dividend of $0.42 per share, with a dividend yield of 3.04%. This compares to the Banks - Major Regional industry's yield of 3.68% and the S&P 500's yield of 1.6%. The company's annualized dividend growth in the past year was 13.51%. Check The Bank of New York Mellon Corporation (BK - Free Report) dividend history here>>>
Heartland BancCorp. (HLAN - Free Report) is paying out a dividend of $0.76 per share at the moment, with a dividend yield of 3.52% compared to the Banks - Midwest industry's yield of 3.09% and the S&P 500's yield. The annualized dividend growth of the company was 10% over the past year. Check Heartland BancCorp. (HLAN - Free Report) dividend history here>>>
Currently paying a dividend of $0.09 per share, Macatawa Bank (MCBC - Free Report) has a dividend yield of 3.24%. This is compared to the Banks - Midwest industry's yield of 3.09% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 12.5%. Check Macatawa Bank (MCBC - Free Report) dividend history here>>>
But aren't stocks generally more risky than bonds?
The fact is that stocks, as an asset class, carry more risk than bonds. To counterbalance this, invest in superior quality dividend stocks that not only can grow over time but more significantly, can also decrease your overall portfolio volatility with respect to the broader stock market.
A silver lining to owning dividend stocks for your retirement portfolio is that many companies, especially blue chip stocks, increase their dividends over time, helping offset the effects of inflation on your potential retirement income.
Thinking about dividend-focused mutual funds or ETFs? Watch out for fees.
If you prefer investing in funds or ETFs compared to individual stocks, you can still pursue a dividend income strategy. However, it's important to know the fees charged by each fund or ETF, which can ultimately reduce your dividend income, working against your strategy. Do your homework and make sure you know the fees charged by any fund before you invest.
Bottom Line
Regardless of whether you select high-quality, low-fee funds or stocks, looking for a steady stream of income from dividend-paying equities can potentially lead you to a solid and more peaceful retirement.
See More Zacks Research for These Tickers
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The Bank of New York Mellon Corporation (BK) - free report >> | https://www.zacks.com/stock/news/2217000/how-to-maximize-your-retirement-portfolio-with-these-top-ranked-dividend-stocks | 2024-01-30T01:58:11Z | blocked_url |
A judge on Monday rejected Cher's request that her adult son be put into a court conservatorship controlling his money.
The Oscar- and Grammy-winning singer and actor had argued in a petition that 47-year-old Elijah Blue Allman's large payments from the trust of his late father, rocker Gregg Allman, are putting him in danger because of his struggles with mental health and substance abuse.
But Los Angeles Superior Court Judge Jessica A. Uzcategui was not convinced that a conservatorship was urgently needed and declined the petition, though she will still consider a larger, long-term conservatorship at a hearing in March.
Cher observed the hearing remotely. She appeared on a large screen in the courtroom throughout, but did not take part in the arguments.
Allman was in the courtroom with his attorneys, who acknowledged his previous struggles but argued that he is in a good place now, attending meetings, getting treatment and reconciling with his previously estranged wife.
"We are thrilled that the court saw that he does not need a temporary conservatorship," Allman's lawyer said as he stood alongside him outside the courthouse. "He's got a lot of support, he's doing great."
Cher's attorneys argued that the support Allman was getting was from people who tell him what he wants to hear and downplay the size of his problems. They said his current apparent sobriety and mental health were illusory. They said he suffers from bipolar disorder, has been recently homeless, and that having large amounts of money might lead to access to drugs that could endanger his life.
Blue and his attorneys have consistently argued since the petition was first filed in December that none of this is true.
Uzcategui had already signaled at a hearing on Jan. 5 that she wasn't inclined to establish a conservatorship, delaying the decision until Monday because documents had not been shared in time with Allman's attorneys.
Cher's attorneys said that she was not necessarily seeking any direct control over Allman's money, and would be happy to have a court-appointed fiduciary manage his finances. They did not immediately reply to a request for comment on the judge's decision.
Court conservatorships, known as guardianships in some states, have come under far greater scrutiny in recent years after a temporary conservatorship imposed on Britney Spears in 2008 ended up leaving her without control of her money and major life affairs for nearly 14 years.
SEE MORE: Cher seeks conservatorship for son amid substance abuse concerns
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/judge-denies-cher-temporary-conservatorship-she-s-seeking-over-son | 2024-01-30T01:58:16Z | blocked_url |
Shannon Cano anticipates that she’ll be homeschooling her kids next year even though the idea of taking them away from their Wallace family breaks her heart.
Cano, who has three special-needs children, was one of about 15 parents and Lew Wallace Elementary teachers and staff protesting on Monday its alleged consolidation with Kenwood Elementary — or worse, the closing of both schools — outside the School City of Hammond’s Administration Building at 41 Williams St. She can’t fathom that the administration would be so shortsighted to tamper with the only elementary school with the equipment staff needs to deal with the district’s most vulnerable population. While the administration has yet to announce its full plan to cut $15 million from its budget, the thought stings even worse when she considers what she saw in her older child’s class at Eggers Middle School, she said.
“I went to my kid’s class, and there was one aide and 10 kids in there. The sub was at the desk apparently catnapping,” she said, demonstrating how the sub appeared. “The aide was chasing around another one of the kids who was literally mauling the others. I told the staff I would be staying there with my kid for a few days, but I ended up staying to the end of the year.
“These kids are not safe there, and they hide it from their parents.”
She’s particularly worried about what would happen to the kids if Wallace closes. Wallace has, for example, the room to have lifts for students who are wheelchair-bound, she said.
“What’s going to happen to these kids when they have to be slapped on a floor to be changed?” Cano said. “What about our kids’ dignity? It’s so aggravating to watch what the administration is doing, and I don’t know if the parents even know what’s going on.”
Post-Tribune
At least one School Board of Trustee member, Carlotta Blake-King, doesn’t know what the administration’s full plan is, either. After initially scheduling three executive sessions with the board for Jan. 27, Monday and Tuesday, the administration canceled both the Monday and Tuesday executive sessions.
“The draft of the plan has to be submitted to the (Department of Local Government Finance) by Wednesday, but we’re canceling meetings? We were here until midnight (Jan. 27), and I was prepared to be here until midnight tonight and tomorrow, too,” Blake-King said at the protest. “If I’m responsible for this plan, I should be able to give an educated, well-thought-out response, but we’re not allowed to take stuff home, either.”
Pam Austin, a teacher’s assistant and reading specialist at Wallace, said she understands that everything is just rumors at this point. Nevertheless, she and her colleagues “aren’t going down without a fight,” she said.
“We have 388 students who’re mostly African American, Hispanic and Latino and special needs. Our reading scores are third in the district,” she said. “Sending these kids to different schools would be a lot on them. Our kids would go to Burns-Hicks Elementary, and for that, they’d have to cross Calumet Avenue, and that’s dangerous. And what about the 70-some teachers and staff? They’ll be out of jobs.”
Alexis Hecker and her family moved to Hammond from Chicago about 10 years ago, and she’s never forgotten how the staff at Wallace made her feel like family. But she’s already homeschooling one of her kids, and the other would be too if she wasn’t involved in wrestling.
“They want more money to give the kids less,” Hecker said.
Michelle L. Quinn is a freelance reporter for the Post-Tribune. | https://www.chicagotribune.com/suburbs/post-tribune/ct-ptb-hamm-skul-protest-st-0130-20240130-belaemfaundklf5umm4jepdsje-story.html | 2024-01-30T01:58:21Z | blocked_url |
In 2005, Terry Jon Martin wanted what was described as "one last score" when he stole a pair of the famous ruby slippers featured in the film "The Wizard of Oz" — valued today at about $3.5 million — from the Judy Garland Museum in Grand Rapids, Minnesota.
On Monday, the 76-year-old, now housebound in hospice care and requiring constant oxygen therapy, was sentenced to time served and a year of probation, as well as an order to pay about $23,000 in restitution to the museum honoring the late actress who made the shoes famous.
Prosecutors wrote in a court filing that Martin's health "is simply too fragile" for prison.
Over the two decades since the theft, the high-profile heist has inspired a podcast, a documentary and several true crime sleuths to speculate on the mystery of the missing red shoes.
But according to his attorney, Martin didn't realize the cultural significance of the slippers, and originally thought the glass rubies were real.
Martin said he gave the slippers to an old mob associate, but the thief refused to identify anyone else involved in the theft.
The slippers were recovered by the FBI in 2018, but the Bureau's remained tight-lipped on how they were tracked down, and nobody else has ever been charged in the case.
SEE MORE: Ongoing trial may uncover mystery of stolen 'Wizard of Oz' slippers
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/man-who-stole-famous-wizard-of-oz-slippers-sentenced | 2024-01-30T01:58:23Z | blocked_url |
FERNDALE, Mich. (WXYZ) — Fourteen years ago, Scott Moloney founded Treat Dreams off Woodward Avenue in Ferndale because he wanted to bring joy to people.
"Ice cream seemed fun," Moloney said.
With out-of-the-box flavors like Avocado Chocolate Chip, Hogwarts Brew and Mac and Cheese, they've been doing just that.
"I always say that the folks that manage and run the place are basically the Willy Wonka of ice cream," local Treat Dreams customer Jim Shaffer told us.
Partly because of this, Treat Dreams has grown to be a sweet spot in the community, which is why many may be surprised to see Moloney post on Facebook this week that they're now struggling to stay open.
In the post, he shared that the 2023 construction on Woodward Avenue impacted the store dramatically.
The construction took place for most of 2023 and just ended in December.
"I did not expect it to impact our business as much as it did," Moloney said. "But we saw every month, at least a 30% decline every month."
Moloney wrote on Facebook that if it wasn't for help from loved ones and landlords, the store may not be open today.
To try and push through until the spring — a busier season — they're starting a "Share The Love With Treat Dreams" gift card campaign.
"Basically, you buy a $50 gift card, then we’ll give you that $50 gift card. We’ll give you 10 scoop cards to hopefully hand out to your friends and neighbors, and then we’re going to donate 10 to the nonprofit charity of your choice," Moloney said.
If you spend $100 on gift cards, you get 25 scoop cards and are entered to win free ice cream for life.
Shaffer has already bought some gift cards and told us, "Scott has always done a great job at being involved in the community here with Treat Dreams, even giving back to the local school district and folks that need help."
Moloney said kind words like that have moved him to tears the last couple of days.
He said if you can't afford a gift card, even buying a single scoop in the store helps because after all, "You give a kid an ice cream cone, he’s going to smile 100% of the time." | https://www.tv20detroit.com/news/region/oakland-county/ferndales-treat-dreams-selling-gift-cards-to-make-it-through-winter-after-woodward-construction-hit | 2024-01-30T01:58:26Z | blocked_url |
ALLEN PARK, Mich. (AP) — The Detroit Lions had their best season in generations.
Players, coaches and at least some fans are not ready to celebrate at the moment.
The Lions let an opportunity slip to play in the Super Bowl for the first time, becoming the first team to lose a 17-point halftime lead in a conference championship game with their 34-31 loss at San Francisco.
“We know we accomplished a lot this year, but our ultimate goal was the Super Bowl and we were within reaching distance and there's nothing worse than almost making it,” Lions linebacker Alex Anzalone said Sunday night. “These are the losses that you’ll remember forever.”
Even though nothing can erase the pain for the Lions, there's no doubt they were the source of joy for millions in the Motor City and throughout the state of Michigan in a season that surpassed unusually high expectations. And their future seems promising.
“I think think what we built was hope,” running back David Montgomery said.
Everyone can argue about Dan Campbell's decision making. But this is how his players feel about him.
— Jeanna Trotman (@JeannaTrotmanTV) January 29, 2024
Strongest words from Frank Ragnow: "I didn't even realize how good of a coach there is out there until I met him. He just blew me away. And he continues to blow me away." pic.twitter.com/mcyX0HTObz
Hopes were high for Detroit last summer as the favorite to win the NFC North, and the team lived up to the hype by ending a three-decade stretch without a division title and tying a franchise record with 12 regular-season wins.
The Lions had two home playoff games for the first time, earned two postseason victories for the first time since winning the 1957 NFL championship and reached the conference title game for the first time in 32 years and second time in franchise history.
Once there, they led San Francisco 24-7 early in the third quarter before blowing it.
“That feeling that we all had walking off of that field, I don’t think any one of us want to feel that again,” receiver Amon-Ra St. Brown said. “I think the feeling that we have is enough to motivate us for next year.
“We had a good year as a whole, but it is all for nothing if you don’t win the whole thing.”
Even though the franchise fell short, owner Sheila Ford Hamp got it right when she hired general manager Brad Holmes and coach Dan Campbell three years ago after decades of poor leadership in the front office and on the sideline.
Holmes has hit much more than he's missed in three drafts, giving the franchise plenty of building blocks on both sides of the ball.
Campbell's gambles have led to a league-high 62 conversions on fourth down in his three seasons and 22 wins in his last 30 games, but his characteristically risky moves didn't go his his way against the Niners.
Detroit had a chance to restore its 17-point lead midway through the third quarter, but Campbell chose to for it on fourth-and-2 from the 28 instead of having having Michael Badgley kick a field goal. Josh Reynolds dropped a slightly errant throw from Jared Goff, making the move backfire.
Dan Campbell back in Allen Park is reliving the emotions we saw from last night, saying that sometimes you have to live it to really understand why you play the game.
— Jeanna Trotman (@JeannaTrotmanTV) January 29, 2024
“Our eyes are wide open,” adding that this should be the ultimate motivation. pic.twitter.com/Wg5gdmMI5g
Reynolds also dropped a pass on third down later in the quarter.
“I definitely didn't help,” he said Monday as he and his teammates cleared out their lockers.
Down three points midway through the fourth quarter, Campbell went for it again on fourth-and-3 from the 30 instead of attempting a field goal, and Goff threw incomplete under pressure.
“You want to make the most of every opportunity and we had an opportunity, and we just couldn’t close it out,” Goff said. "It stings.”
Campbell stood by his choices, including running the ball on the team's final drive and being forced to use the first of three timeouts.
“I gambled and lost,” he said softly at his season-ending news conference about 10 hours after the team arrived back in Detroit.
MAKING MOVES
The Lions start their offseason with $60-plus million in salary cap space, ranking No. 7 in the league, and will have some decisions to make.
Goff has one year left on his contract, possibly making him a candidate for an extension.
Free agents include guards Jonah Jackson, who had a second straight injury-shortened season, and Graham Glasgow along with defensive back C.J. Gardner-Johnson, who was limited to three games due to injuries.
COVETED COACHES
Offensive coordinator Ben Johnson and defensive coordinator Aaron Glenn are among the candidates to be Washington's coach, potentially leaving Campbell with an important role to fill on his staff for next season.
___
AP NFL: https://apnews.com/hub/NFL | https://www.tv20detroit.com/sports/lions-lament-the-one-that-got-away-after-blowing-big-lead-with-a-chance-to-reach-first-super-bowl | 2024-01-30T01:58:32Z | blocked_url |
To address the surge in youth vaping and protect children's health, the United Kingdom is banning the sale of disposable vapes.
“I am taking bold action to ban disposable vapes — which have driven the rise in youth vaping — and bring forward new powers (measures) to restrict vape flavours, introduce plain packaging and change how vapes are displayed in shops,” Prime Minister Rishi Sunak announced Monday in a press release.
Additionally, the U.K. government says that vaping alternatives like nicotine pouches will also be banned from being sold to children, and it will start fining shops for selling vapes to children.
Although the new measures are not anticipated to take effect until next year, the government states that the primary motivation for implementing these actions is the significant rise in youth vaping, predominantly attributed to the popularity of disposable vapes.
Whileit’s currently illegal to sell vapes or tobacco to those under the age of 18 in the U.K., the government says that in the last three years, the proportion of children using vapes has tripled, with 9% of 11- to 15-year-olds now using them; and in the last two years, the number of 11- to 17-year-olds using disposable devices has increased nearly ninefold.
“The long-term impacts of vaping are unknown and the nicotine within them can be highly addictive, so while vaping can be a useful tool to help smokers quit, marketing vapes to children is not acceptable,” said Sunak. “Alongside our commitment to stop children who turn 15 this year or younger from ever legally being sold cigarettes, these changes will leave a lasting legacy by protecting our children’s health for the long term.”
The government says that adults will still be allowed to use vapes as a tool to quit smoking.
Trending stories at Scrippsnews.com | https://www.tv20detroit.com/this-country-is-banning-disposable-vapes-to-curb-surge-in-youth-vaping | 2024-01-30T01:58:38Z | blocked_url |
The Illinois Department of Natural Resources has awarded a $2.8 million grant to the Batavia Park District for a new downtown community center.
The department announced on Jan. 10 that the state funds will come from the Park and Recreational Facility Construction, or PARC, grant program. The Batavia Park District will put the funds toward the construction of the Patrick J. Callahan Community Center, a $7 million project that is set to fully renovate a nearly 13,000-square-foot former office building next to the Riverwalk.
“I’m happy to see the Batavia Park District receive these funds for their project to create a large indoor recreation center,” state Sen. Linda Holmes, D-Aurora, said in a Jan. 26 news release.
The community center, named for longtime Batavia Park District board member Pat Callahan, will include multipurpose spaces, a community room and programming for children, teens and adults, according to district Executive Director Allison Niemela.
While classes like dance, events like adult trivia nights and other “unique and innovative programming” will be offered, the center will also be open to community use, Niemela said. For example, she said that local organizations will be able to hold board meetings at the center.
Batavia Access Television is also set to be housed within the new community center.
“This grant, we see it as an investment in recreation infrastructure so we can continue to serve our residents with this one-for-all community center,” Niemela said.
Of the building’s 12,420 square feet, around 8,500 will be dedicated to indoor recreation. The rest of the space will be dedicated to park district administrative offices and an expansion of the Batavia Depot Museum.
The community center will not hold museum exhibits, but will instead hold the museum’s storage and work rooms. However, some of that space will be open to the public to learn about the arts and crafts currently being used to create the museum’s latest exhibits, according to Niemela.
“That maker space area is going to be designed to evolve with the changes of the exhibits,” she said. “For instance, if there’s going to be an exhibit with lots of costumes or period pieces, we may have sewing machines set up. If there’s a need for large format printing, then maybe people can come in and learn that experience.”
The Beacon-News
Construction on the building is set to begin in late 2024 and be completed at the end of 2025, according to Niemela. She said that the district is looking to bid out the construction in spring, and that Bear Construction has already been hired to manage the project.
According to the park district’s website, the park district purchased the building in 2021 for $907,667 without taking on debt.
The community center was originally set to open in 2027, but the state grant has sped up the timeline by relieving some of the district’s financial burden, Niemela said.
With the help of state investment and the Batavia Historical Society, which previously donated $430,000 toward the project, she said the project will be completed without raising taxes.
The Illinois Department of Natural Resources is distributing a total of $28 million through the PARC grant program to 13 projects throughout the state. The program is a part of the multi-year Rebuild Illinois capital improvement plan championed by Gov. J.B. Pritzker.
According to the department’s news release announcing the investments, the PARC grant program provides funding to local governments to create or improve recreational buildings or land for public use.
“Grant programs like these that support our local parks and community spaces represent government at its best and I am proud to support them. The IDNR’s $2.8 million investment in Batavia Park District will go a long way in repurposing an underutilized space,” state Rep. Matt Hanson, D-Montgomery, said in the release. | https://www.chicagotribune.com/suburbs/aurora-beacon-news/ct-abn-batavia-community-center-st-0131-20240130-w2hgehlfcjdflmymzxkzex2sky-story.html | 2024-01-30T02:02:42Z | blocked_url |
In 1974, Philippe Petit stepped into history when he became the first—and certainly only—human being ever to walk on a high wire that stretched between the two now-gone World Trade Center towers. On February 1, the French-born Woodstock resident, who was profiled in the May 2021 issue of Chronogram, will once again take to the hire wire for another nail-biting feat of derring-do, this time inside New York’s Cathedral of St. John the Divine.
The 74-year-old aerialist
will traverse a 600-foot wire set up beneath the eaves of the landmark cathedral
in Morningside Heights, nearly 100 feet above the historic structure’s floor,
walking through an art installation made from colorful, 75-foot ribbons hung
from its ceiling. Titled “The Ribbon Walk,” the feat marks Petit’s third public
daredevil performance at the site; in 1982, he walked outside the 1911 building,
on a wire suspended 150 feet over Amsterdam Avenue, to celebrate the long-awaited
resumption of construction work at the church, where he is an artist-in-residence.
Philippe Petit will perform “The Ribbon Walk” at the Cathedral of St. John the Divine in New York on February 1 at 6pm (doors open at 5:15pm). General admission tickets are $25-$50. | https://www.chronogram.com/arts/philippe-petit-to-walk-the-high-wire-again-19947413 | 2024-01-30T02:08:25Z | blocked_url |
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.
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Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: CrowdStrike Holdings (CRWD - Free Report)
Founded in 2011, Sunnyvale, CA-based CrowdStrike is a leader in next-generation endpoint protection, threat intelligence and cyberattack response services.
CRWD is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. CRWD has a Growth Style Score of A, forecasting year-over-year earnings growth of 91.6% for the current fiscal year.
15 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.13 to $2.95 per share. CRWD also boasts an average earnings surprise of 16.6%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CRWD should be on investors' short list. | https://www.zacks.com/stock/news/2217133/why-this-1-growth-stock-could-be-a-great-addition-to-your-portfolio | 2024-01-30T02:09:42Z | blocked_url |
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Allstate (ALL - Free Report)
Founded in 1931 and headquartered in Northbrook, IL, The Allstate Corporation is the third-largest property-casualty (P&C) insurer and the largest publicly-held personal lines carrier in the U.S. The company also provides a range of life insurance and investment products to its diverse customer base. It provides insurance products to approximately 16 million households through more than 12,000 exclusive agencies and financial specialists in the U.S. and Canada.
ALL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Finance stock. ALL has a Momentum Style Score of B, and shares are up 13.1% over the past four weeks.
For fiscal 2023, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.88 to -$0.94 per share. ALL boasts an average earnings surprise of 31.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, ALL should be on investors' short list. | https://www.zacks.com/stock/news/2217183/why-this-1-momentum-stock-could-be-a-great-addition-to-your-portfolio | 2024-01-30T02:14:12Z | blocked_url |
Who says January’s a long month? This week starts slow, but we’ll end it with a full-fledged Jobs Week for February. Tuesday ushers in new JOLTS data for December, Wednesday brings us private-sector ADP ((ADP - Free Report) payroll totals for this month (along with the latest Fed decision on interest rates), and Friday is the big non-farm payroll survey from the U.S. Bureau of Labor Statistics (BLS). All of the forecast numbers are expected to tick down in the labor market, aside from the Unemployment Rate, which is expected to lift back up slightly to 3.8%.
In addition, our new week also features several marquee names of the Tech industry reporting earnings: Microsoft ((MSFT - Free Report) and Alphabet ((GOOGL - Free Report) on Tuesday, Apple ((AAPL - Free Report) and Amazon ((AMZN - Free Report) on Thursday — all after the closing bell, as per normal. These major firms are all expecting growth on both top and bottom lines, year over year, led by anticipated earnings growth of +285% from Zacks Rank #2 (Buy)-rated Amazon, and +15% revenues growth year over year from Zacks Rank #2-rated Microsoft. (In other news, Amazon is no longer pursuing the acquisition for iRobot, citing antitrust issues, sending the smaller stock down -20% at this hour.)
Elsewhere, there will be a bevy of other reports hitting the tape this week, from Case-Shiller home prices to Consumer Confidence to Q4 Productivity to S&P and ISM Manufacturing. We also look for fresh Q4 earnings reports from across the spectrum of sectors, from AMD ((AMD - Free Report) to General Motors ((GM - Free Report) to Mondelez ((MDLZ - Free Report) to Pfizer ((PFE - Free Report) to Snapchat ((SNAP - Free Report) and Starbucks ((SBUX - Free Report) — and that’s just tomorrow!
Off near-term lows on January 18th, three of the four major stock market indices have rebounded into positive territory year-to-date. Only the Russell 2000 is still -3% from the start of this year’s trading, though that’s up from -6% on January 18th. The small-cap index, heavy in regional bank representation, needs three relatively strong trading days to finish the month in the green, along with the others which are already there.
We do not expect Wednesday’s Federal Open Market Committee (FOMC) decision to be any factor at all on trading behavior this week. Even among those analysts who still believe — or wish for — six interest rate cuts between now and the end of the year do not foresee one coming this early. Most of these folks look toward early March for the first cut, though this would likely take much weaker numbers in the economy before the Fed would risk loosening the monetary screws.
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Mondelez International, Inc. (MDLZ) - free report >> | https://www.zacks.com/stock/news/2217255/big-earnings-week-ahead | 2024-01-30T02:18:41Z | blocked_url |
The servicemen of the Russian armed forces killed Ukrainian civilians in the occupied Kreminna (Luhansk Oblast, eastern Ukraine), the Russian Telegram channel ASTRA reported on 29 January.
This is not the first time Russian soldiers have killed civilians in Ukraine. Russia’s attacks on unarmed Ukrainian citizens in occupied territories – torture, sexual violence, murder, and forcible detentions – are war crimes that are systemic in nature.
According to ASTRA, the bodies of 60-year-old Natalia Burlutska (photo 1), her 37-year-old daughter Alla Burlutska (photo 2), and her 41-year-old son-in-law Andrii Ruban with gunshot wounds were found in in the Russian-occupied city of Kreminna on 26 January 2024.
Relatives of the murdered family said that Alla Burlutska had an 18-year-old daughter who survived, ASTRA reported.
Russian war criminals who killed the Ukrainian family have been identified. According to ASTRA, the murderers of Ukrainian civilians are three Russian servicemen, Fidan Hayerzamanov, Igor Dmitriev, and Azamat Gareev.
Fidan Hayerzamanov, a 33-year-old soldier of the Russian military unit 12271, was detained by the Russian occupation forces for killing civilians, ASTRA reported. His companions, 30-year-old Igor Dmitriev and 39-year-old Azamat Gareev, are also wanted by Russian occupation authorities.
According to ASTRA, the motives for the murder are currently unknown.
“They just did it for fun”: Ukrainian survivors detail Wagner group horrors
Since the beginning of the full-scale Russian invasion of Ukraine, Russian forces have committed a series of atrocities, exemplified by the unearthing of mass graves and torture facilities in liberated cities such as Bucha (Kyiv Oblast, northern Ukraine) and Izium (Kharkiv Oblast, eastern Ukraine).
In March 2022, following Russia’s full-scale invasion, the president of the United Nations Human Rights Council (UNHRC), Federico Villegas Beltrán, announced the establishment of the Independent International Commission of Inquiry on Ukraine. This commission is investigating all alleged violations and abuses of human rights and international humanitarian law (IHL) during the Russian war against Ukraine. The commission has found numerous cases of inhuman treatment by Russian occupation authorities in Chernihiv, Donetsk, Kharkiv, Kherson, Kyiv, Sumy, and Zaporizhzhia oblasts.
Related:
- UN report accuses Russia of war crimes in Ukraine: Torture, sexual violence, and murder revealed
- Bucha – a turning point in Russia’s war in Ukraine and relations with the world
- Russian rockets attack civilian residences in Ukraine’s Myrnohrad at night, injuring three, including 15-year-old
- Russian troops execute Ukrainian POWs in southeastern Ukraine
- Russia continues demolishing buildings in occupied Mariupol to conceal its crimes against civilians, Ukraine says
- Top-10 Russian genocidal quotes about Ukraine | https://euromaidanpress.com/2024/01/30/russian-soldiers-kill-family-of-three-in-occupied-kreminna/ | 2024-01-30T02:19:33Z | blocked_url |
Box (BOX - Free Report) is making concerted efforts to expand its presence in the booming enterprise content management (ECM) market, which, per a Mordor Intelligence report, is expected to hit $77.20 billion in 2024 and reach $149.80 billion by 2029, indicating a CAGR of 14.2% between 2024 and 2029.
In a bid to expand its ECM solutions portfolio, Box acquired Crooze, a provider of no-code enterprise content management applications, to integrate Crooze’s advanced ECM capabilities into its robust set of content services.
With this acquisition, Box can leverage Crooze’s no-code builder for business-document applications, extensive metadata tools, customized dashboards, forms, document generation capabilities, and integration with Box Relay for automated content workflows.
This acquisition will enable Box to help organizations manage contract lifecycle, digital assets, controlled documents and enterprise content libraries.
Box is anticipated to gain solid traction across various enterprises on the back of its latest move.
Moreover, the Crooze acquisition will strengthen the company’s Content Could platform.
Expanding Enterprise Content Management Solutions
Apart from the Crooze acquisition, Box partnered with Alphabet (GOOGL - Free Report) to integrate Google Cloud’s generative AI capabilities to enhance enterprise work, integrating Vertex AI to improve data processing and analysis in Box Content Cloud.
The partnership with Alphabet will power Box's metadata extraction feature, which saves customers’ time by automatically identifying and tagging key context from documents, and matching metadata fields to attributes.
Box introduced Box Hubs, a Content Cloud solution that integrates with Box AI, enabling users to securely curate and publish content across the enterprise.
Further, all content published in a Hub retains enterprise-grade security, governance and compliance capabilities. Users can access all available Hubs via the new Box Hubs gallery, use robust search functionality, and view built-in insights to understand content performance and audience engagement.
Box recently partnered with CrowdStrike (CRWD - Free Report) to enhance cloud data security, integrating Box's secure content management with CrowdStrike's AI-powered platform, CrowdStrike Falcon.
This integration with CrowdStrike’s AI-powered platform enables users for real-time access control and threat prevention, allowing IT teams to detect malicious files and configure security policies.
Wrapping Up
All the above-mentioned endeavors to strengthen its content services will enable Box to enhance its workplace experience, which, in turn, will aid its overall financial performance in the upcoming period.
The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $1.08 billion, indicating an increase of 4.4% from the fiscal 2024 level.
The consensus mark for fiscal 2025 earnings is pegged at $1.70 per share, indicating growth of 19.2% from the year-ago quarter.
However, macroeconomic pressures and rising cloud competition are major concerns for the company. Box has lost 20.9% in the past year, underperforming the Zacks Computer & Technology sector’s growth of 48.2%.
Zacks Rank & A Stock to Consider
Currently, BOX carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Vertiv (VRT - Free Report) , which carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Vertiv have gained 283% in the past year. The long-term earnings growth rate for VRT is currently projected at 53.86%.
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Box, Inc. (BOX) - free report >> | https://www.zacks.com/stock/news/2217284/box-aids-enterprise-content-management-with-crooze-buyout | 2024-01-30T02:20:08Z | blocked_url |
Ukraine is trying to win the war against Russia by developing and manufacturing its own weapons, as well as seeking partnerships to produce weapons and ammunition with Western allies, Oleksandr Kamyshin, the Minister of Strategic Industries of Ukraine, told Time.
According to Oleksandr Kamyshin, Ukraine is taking active measures to increase the number of secret bases and factories where new weapons are tested and produced despite the ongoing Russian invasion and problems in Ukraine’s defense sector.
Ukraine has a large and motivated workforce, hundreds of factories, and tens of thousands of qualified specialists, but it also suffers from mismanagement and constant missile strikes from Russia, Kamyshin told Time.
How Ukraine’s scrappy marine drones are revolutionizing naval warfare
Despite the challenges, the Minister of Strategic Industries of Ukraine hopes that Ukraine will strengthen its collaboration with the US and other Western countries, which have supported the Ukrainians with weapons and money but also have strict rules on sharing advanced technology and secrets.
According to Time, a new stage in the Russian-Ukrainian war has begun this winter. Intensive drone strikes on targets deep in Russian territory mark this stage of the war.
Oleksandr Kamyshin told Time that Ukraine launches drones to hit targets inside Russia in the dead of night from secret bases in Ukraine. The Ukrainian military closely guards these bases. Several civilian engineers also have access to the launch, Kamyshin said.
“We don’t have time to test these things [long-range kamikaze drones – ed.] at the range. We test them in combat,” Kamyshin said. “No matter how much we produce in conventional weapons, we cannot catch up with Russia. We need to use advanced technology to find a new approach,” the Minister of Strategic Industries added. He compared the challenge to the story of David and Goliath playing on repeat, with each new phase of the war obliging Ukraine to find a new slingshot.
The biggest challenge for Ukraine in the coming months will be attracting foreign partners to the Ukrainian arms industry and securing the licenses needed to build and repair Western weapons needed to repel the Russian invasion, according to Time. “Our model used to be: Give it to us. Now our model is going to be: Let’s make it together,” Kamyshin told the Time.
According to Oleksandr Kamyshin, all recent strikes on targets in Russia have been carried out by Ukrainian-made drones.
Related: | https://euromaidanpress.com/2024/01/30/ukraine-builds-its-own-weapons-to-fight-russia/ | 2024-01-30T02:20:13Z | blocked_url |
A memorial service will be held Saturday for Ron Keller, the longtime Naperville Municipal Band director and music educator who died last week at 84.
[ Longtime Naperville Municipal Band director Ron Keller dies at 84 ]
The service is set for 5 p.m. at North Central College’s Wentz Concert Hall in downtown Naperville.
Visitation will be on Friday from 3 to 7 p.m. at the First Congregational United Church of Christ, 25 E. Benton St.
Emily Binder, asked by Keller’s family to speak on their behalf, said both services are open to the public. She said the family knows that because Keller was “such a public figure, a lot of people will want to pay their respects.”
Keller was a member of the municipal band for 70 years, 57 of which at its helm as director. He was also a longtime music educator, spending the bulk of his career in Naperville and at Jefferson Middle School for 26 years as well as serving as the coordinator of music for Naperville School District 203 for 18 years.
He is survived by his wife, Vicki Dahlsten Keller; sister Julie Keller; three daughters, Diana Keller Brandt (John), Jeri Thompson, Katie Palmer (Jon); one son, Jeff Keller; seven grandchildren; and five great grandchildren.
In addition to his parents, Adam and Dorothy (Goodge) Keller, he was preceded in death by a son, Michael.
Donations in Keller’s honor can be made to The Ronald J. Keller Scholarship Fund, P.O. Box 474, Naperville, IL 60566; First Congregational Church, UCC, 25 E. Benton St., Naperville, IL 60540, in care of the music ministry; or Lizzy’s Fund, a senior dog shelter and rescue at 1700 Park St., #202, Naperville, IL 60563 | https://www.chicagotribune.com/suburbs/naperville-sun/ct-nvs-naperville-ron-keller-funeral-service-st-0131-20240130-rpfoise2inbclg32kx2khwgn2u-story.html | 2024-01-30T02:28:55Z | blocked_url |
The telecom sector has been trending downward compared to the broader market. With the S&P Telecom Select Industry Index falling 8.78% over the past year, the descending trajectory in the industry is evident when compared to the S&P 500, which has added 21.20% over the past year.
However, optimistic AI forecasts amid the broader market rally may fare well for the telecom sector. The Fed’s dovish stance and estimates of interest rate cuts in 2024 also bode well. Both AT&T and Verizon Communications Inc. reported a healthy fourth quarter.
Below, we highlight fourth-quarter earnings results from these companies.
Earnings in Detail
Verizon Communications
On Jan 23,Verizon Communications (VZ - Free Report) reported healthy fourth-quarter numbers, driven by significant 5G adoption and wireless traction. The robust broadband performance was fueled by solid demand for fixed wireless products. Verizon witnessed solid momentum in the wireless business, with 449,000 total postpaid phone net additions in the quarter.
Net loss in the quarter amounted to $2.57 billion or a loss of 64 cents per share. In the prior-year quarter, the company had reported net income of $6.69 billion or $1.56 per share. This year-over-year decline can be mostly blamed on higher operating expenses led by a goodwill impairment charge. Excluding non-recurring items, quarterly adjusted earnings came in at $1.08 per share compared with $1.19 in the prior-year quarter, beating the Zacks Consensus Estimate by a penny.
Total operating revenues of $35.13 billion decreased from $35.25 billion in the prior year but managed to beat the consensus estimate of $34.82 billion. The year-over-year fall was mainly on account of lower wireless equipment revenues generated from a challenging macroeconomic environment and fewer postpaid phone upgrades.
The company expects wireless service revenues to grow by 2%-3.5% for 2024.
AT&T
On Jan 24, AT&T (T - Free Report) reported relatively healthy fourth-quarter 2023 results as solid wireless traction and customer additions were partially offset by lower demand for legacy voice and data services. The company recorded strong subscriber growth backed by a resilient business model and robust cash flow position driven by a diligent execution of operational plans.
On a GAAP basis, the company reported a net income of $2.14 billion or 30 cents per share, which marked a significant year-over-year improvement, primarily due to high asset impairment charges in the year-earlier quarter. Excluding non-recurring items, adjusted earnings from continuing operations were 54 cents per share compared with 61 cents in the year-ago quarter and below the Zacks Consensus Estimate by a penny.
Quarterly GAAP operating revenues increased 2.2% year over year to $32.02 billion, beating the consensus mark of $31.46 billion. This rise was largely due to higher Mobility, Mexico and Consumer Wireline revenues, partially offset by lower revenues from Business Wireline services.
While optimizing operations, AT&T aims to increase efficiencies to lower operating costs, while focusing on 5G and fiber-based connectivity along with an expanded reach of software-based entertainment platforms.
ETFs in Focus
Below, we highlight a few ETFs with considerable exposure to the mentioned companies.
iShares U.S. Telecommunications ETF (IYZ - Free Report)
iShares U.S. Telecommunications ETF seeks to track the performance of the Russell 1000 Telecommunications RIC 22.5/45 Capped Index with a basket of 19 securities. The fund has amassed an asset base of $277.9 million and charges an annual fee of 0.40%.
iShares U.S. Telecommunications ETF has an exposure of has an exposure of 14.66% and 4.34% in VZ and T, respectively. The fund has a Zacks ETF Rank #3 (Hold) and a Medium risk outlook. IYZ has added 5.71% over the past month and 7.45% over the past three months.
Invesco S&P 500 Equal Weight Communication Services ETF (RSPC - Free Report)
Invesco S&P 500 Equal Weight Communication Services ETF seeks to track the performance of S&P 500 Equal Weight Communication Services Plus Index, with a basket of 26 securities. The fund has amassed an asset base of $64.4 million and charges an annual fee of 0.40%.
Invesco S&P 500 Equal Weight Communication Services ETF has an exposure of 4.84% and 4.45% in VZ and T, respectively. The fund has a Zacks ETF Rank #2 (Buy). RSPC has added about 4.60% over the past month and 10.21% over the past three months.
Fidelity MSCI Communication Services Index ETF (FCOM - Free Report)
Fidelity MSCI Communication Services Index ETF seeks to track the performance of the MSCI USA IMI Communication Services 25/50 Index with a basket of 108 securities. The fund has amassed an asset base of $918.1 million and charges an annual fee of 0.08%.
Fidelity MSCI Communication Services Index ETF has an exposure of 4.54% and 3.58% in VZ and T, respectively. The fund has a Zacks ETF Rank #3 (Hold) and a Medium risk outlook. FCOM has added 5.37% over the past month and 12.32% over the past three months.
Vanguard Communication Services ETF (VOX - Free Report)
Vanguard Communication Services ETF seeks to track the performance of MSCI US Investable Market Communication Services 25/50 Index, with a basket of 118 securities. The fund has gathered an asset base of $3.61 billion and charges an annual fee of 0.10%.
Vanguard Communication Services ETF has an exposure of 4.42% and 3.58% in VZ and T, respectively. The fund has a Zacks ETF Rank #3 (Hold) and a Medium risk outlook. VOX has added 5.42% over the past month and 12.23% over the past three months.
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iShares U.S. Telecommunications ETF (IYZ) - free report >>
Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) - free report >> | https://www.zacks.com/stock/news/2217462/assessing-telecomm-etfs-amid-q4-earnings | 2024-01-30T02:30:15Z | blocked_url |
Liverpool fans in Thailand left heartbroken by the imminent departure of the club’s manager, Jurgen Klopp, have been warned by the police against falling for a scam involving fake messages from former Liverpool player Xabi Alonso, who is considered the front runner to replace the German.
Thai news outlet The Nation reported on Jan 29 that Thailand’s Central Investigation Bureau (CIB) warned that scammers were sending messages to fans claiming to be from Alonso and asking for donations to help the Premier League club.
The messages include a link to a fraudulent website designed to steal the victim’s personal information and money.
The CIB is urging fans to be vigilant and not to click on links from unknown online message senders.
Members of the public are advised to verify the authenticity of online messages and to avoid clicking on links from unknown senders, as well as to be suspicious of messages that ask for personal information or money.
The Nation said that Thai police are working with Liverpool to investigate the scam.
Alonso, who manages German Bundesliga team Bayer Leverkusen, has been widely tipped to be Klopp’s successor at the English giants after the latter announced that he would be leaving the Premier League club at the end of the 2023-2024 season.
Klopp joined Liverpool in 2015 and picked up various accolades, including the Champion’s League and the club’s first Premier League title, during his nine-year tenure. | https://www.straitstimes.com/asia/se-asia/thai-police-warn-liverpool-fans-of-scam-involving-xabi-alonso | 2024-01-30T02:31:06Z | blocked_url |
SINGAPORE - CDL Hospitality Trusts (CDLHT) said its total distribution per stapled security (DPS) for the second half ended Dec 31, 2023, dropped 11.1 per cent to 3.19 cents from 3.59 cents.
Total distribution to stapled security holders was down 10.7 per cent year-on-year to $39.8 million from $44.5 million previously, CDLHT’s managers reported on Jan 30.
They attributed the lower H2 total distribution and DPS to a rise in interest costs comprising funding costs on floating rate loans and on the refinancing of fixed-rate loans, as well as interest expenses incurred on additional amounts drawn to finance asset enhancement works.
The half-year period’s total distribution and DPS figures come after factoring in retained working capital as well as a capital distribution of $9.5 million. Without the retention, CDLHT’s DPS would have been 12.4 per cent lower at 3.46 cents compared to 3.95 cents for the year-ago period.
Revenue for the six-month period rose 5.8 per cent on the year to $138.3 million from $130.7 million, while net property income (NPI) grew 3.7 per cent to $75.5 million from $72.8 million previously.
The topline growth came on the back of improvements recorded throughout CDLHT’s portfolio, said its managers, save for lower NPI from Singapore and Perth.
They also noted positive momentum in revenue per available room (RevPAR) growth across all portfolio markets as global travel continued to recover in H2 FY2023.
In the group’s core market of Singapore, RevPAR rose 3.5 per cent to $217 from $209 in H2 FY2022 though the average occupancy rate fell 3.7 percentage points to 83.1 per cent.
Vincent Yeo, chief executive of CDLHT’s managers, said Singapore’s hospitality sector “witnessed remarkable growth” in the first three quarters of 2023.
“In the final quarter, the pent-up demand that fuelled the industry’s resurgence began to normalise, in contrast to the fervour experienced in 2022.”
Inclusive of retained working capital and capital distribution for the full year, CDLHT’s FY2023 DPS stood at 5.7 cents, up 1.2 per cent from 5.63 cents in FY2022. Total distribution for the period was 1.8 per cent higher at $71 million.
Its managers also noted broad improvement in operational results over FY2023, coupled with RevPAR growth across all portfolio markets.
“The year 2023 was a challenging one where we were pleased to achieve growth amidst a difficult economy and an elevated interest rate environment. The prospects for our portfolio hotels continue to be healthy while interest rates have shown signs of peaking,” said Mr Yeo.
Stapled securities of CDLHT were trading down three cents, or 2.9 per cent, at $1.02 as at 9.49am on Jan 30. THE BUSINESS TIMES | https://www.straitstimes.com/business/cdlht-second-half-dps-falls-111-to-319-cents-on-higher-interest-costs | 2024-01-30T02:31:17Z | blocked_url |
SINGAPORE – Keppel Reit’s distribution per unit (DPU) slipped 1.7 per cent to 2.9 cents for the second half of financial year 2023, as compared with 2.95 cents a year ago.
Gross rent for the period rose 7.2 per cent to $111.2 million, driving net property income to increase 7 per cent to $92.5 million, despite higher property expenses.
This was mainly due to higher rentals and occupancy for the Singapore properties, the Reit manager said on Jan 30.
Distributable income from operations registered a 0.7 per cent fall at $99.7 million for the half year.
The decrease was mainly attributable to lower interest income due mainly to repayment of advances by an associate.
The distribution will be paid out on March 15, after the record date on Feb 7.
For the whole financial year, DPU was 2 per cent lower at 5.8 cents. Distributable income from operations dropped 5.8 per cent to $198.7 million.
The manager noted that the lower distribution to unit holders was mainly due to higher borrowing costs at $67 million, up 16 per cent from financial year 2022.
Gross rent for the year rose 6 per cent to $220.2 million, leading net property income to increase 3.7 per cent to $182.4 million.
Units of Keppel Reit fell two cents, or 2.2 per cent, to 89.5 cents on Jan 29. THE BUSINESS TIMES | https://www.straitstimes.com/business/keppel-reit-posts-17-drop-in-second-half-dpu-to-29-cents | 2024-01-30T02:31:27Z | blocked_url |
SINGAPORE – Seatrium expects a financial loss for financial year 2023 that is “significantly higher than the previous year”, it said in a profit guidance on Jan 30.
The group noted that it is expected to make a material non-cash writedown related to “surplus non-core assets and obsolete inventories” for the financial year, which were identified by the management’s strategic review.
“In line with the group’s business transformation, management undertook a strategic review of its business focus, operational footprint and assets required to support its strategy of building a profitable and resilient business going forward,” the company said.
It added that the closure of surplus non-core assets and writedown of excess and obsolete inventories are expected to improve Seatrium’s productivity, optimise its cost structure and reduce cash operating expenses, resulting in significant value creation in the medium to long term.
Seatrium had noted during its third quarter business update on Nov 8, 2023, that a net loss for the full year is expected, despite improving operational and financial performances.
The group added on Jan 30 that it is in the process of finalising the unaudited financials to be released on Feb 26, and advised shareholders and investors to deal with its shares with caution.
Shares of Seatrium closed on Jan 30 up 0.4 cent or 3.8 per cent at 10.8 cents, before its profit guidance. THE BUSINESS TIMES | https://www.straitstimes.com/business/seatrium-warns-of-larger-full-year-loss-on-asset-surplus-writedown | 2024-01-30T02:31:37Z | blocked_url |
WASHINGTON/DUBLIN - Boeing said on Monday it would withdraw its request for a exemption that would have allowed US regulators to certify the upcoming 737 Max 7 without making immediate design changes, as it faces increasing scrutiny from lawmakers and regulators.
The company, long a symbol of America’s manufacturing prowess, is attempting to quell ongoing safety concerns following a harrowing mid-air cabin panel blowout on a 737 Max 9 jet operated by Alaska Airlines on Jan 5.
The withdrawal of the exemption request, first reported by Reuters, puts in question the certification timeline for the Max 7, which Boeing had predicted would occur in 2023 and has been drawn out due to the request made in December.
The exemption would have allowed the Max 7, like the Max 8 and 9, to be put into service before making changes to nacelle inlet structure and engine anti-ice system that are necessary to “address overheating during certain conditions that may result in failure of the engine inlet inner barrel and severe engine inlet cowl damage,” according to a notice on the Federal Register.
The upcoming Max 10 - the largest variant of the jet, which Boeing had also hoped to certify this year - uses the same nacelle design and anti-ice system and will also require design changes if an exemption is not sought.
Boeing originally proposed the Max 7 exemption run through May 31, 2026 - the time period the company believed necessary to develop and certify design changes, but its ability to gain approval was seen as doubtful after the Alaska Airlines accident.
“While we are confident that the proposed time-limited exemption for that system follows established Federal Aviation Authority (FAA) processes to ensure safe operation, we will instead incorporate an engineering solution that will be completed during the certification process,” Boeing said in a statement.
US Senator Tammy Duckworth, who leads the Senate Commerce Committee’s aviation safety subcommittee, said last week she requested that Boeing withdraw the exemption request during a meeting with the planemaker’s CEO Dave Calhoun. She said Mr Calhoun told her he would consider it.
Results in focus
The announcement came ahead of Boeing’s fourth-quarter results on Wednesday, to be delivered while the planemaker is in the middle of its biggest safety crisis since the two fatal 737 Max 8 crashes in 2018 and 2019.
Analysts said Mr Caulhoun will try to assure regulators and the public that its focus is on safety and production quality, building on moves like it withdrawing the Max 7 exemption request.
Executives at the Airline Economics conference in Dublin on Monday publicly backed Mr Calhoun and the rest of Boeing’s management, but made clear the challenge the company faces to regain industry confidence.
Even so, multiple sources said industry speculation was swirling behind closed doors about various permutations of leadership changes at Boeing or its commercial division ahead of a potentially critical U.S. National Transportation Safety Board (NTSB) report due in coming days and what could be a tricky hearing in front of the Senate Commerce Committee in coming weeks.
However, AerCap CEO Aengus Kelly dismissed talk of a leadership change.
“They’re under no illusions about the severity of the situation,” Mr Kelly told Reuters on the sidelines of the conference.
Before the Alaska accident, Boeing was expected to release a new financial and delivery target for 2024 and provide an update on its forecast for 2025-26, the timeframe in which the planemaker’s operations were expected to stabilize.
Boeing had previously projected free cash flow of about US$10 billion (S$13.4 billion) by 2025 or 2026, with 737 production expected to reach 50 jets per month.
That is now in question after the FAA on Jan 24 announced it would not approve further production rate increases for the 737 Max series.
The company’s projections now will be delivered with a cloud over the management’s head, with an influential industry leader saying in Dublin that the regulatory scrutiny will get worse if its record going forward is not flawless.
If there is one more significant problem “the FAA will stop (737) production”, Air Lease Executive Chairman Steven Udvar-Hazy told reporters at the conference.
The door plug that blew out is present on most 737 Max 9 planes, in place of an exit airlines could have added if they wanted a greater number of seats.
Trade publication The Air Current last week reported that the door plug on the affected Max 9 reached Boeing’s factory from Spirit AeroSystems with bolts installed, but that the planemaker re-opened it to give access to nearby rivets that had been mis-installed by Spirit.
Spirit and Boeing referred queries on the probe to the NTSB. The agency’s chair Jennifer Homendy said on Jan 18 it was too early to say if the root cause of the blowout was missing or mis-installed bolts.
In a letter to Mr Calhoun reviewed by Reuters on Monday, New York state comptroller Thomas DiNapoli requested the CEO provide details on the short and long-term steps necessary to “ameliorate” immediate quality and safety issues, and asked about the role of Boeing’s board in overseeing the current crisis.
Mr DiNapoli had asked Boeing: “How will you restore confidence among your customers and the flying public?“ he wrote.
Boeing did not immediately respond to a request for comments.
Despite the public support for Boeing’s leadership at the Dublin conference, several delegates and industry officials said privately that questions remained over the future of Boeing’s management.
“Behind the scenes everyone is livid,” a person familiar with lessor discussions with Boeing said.
In response, Boeing referred to comments made by Boeing Commercial Airplanes President Stan Deal in a message to employees on Friday.
“Our long-term focus is on improving our quality so that we can regain the confidence of our customers, our regulator and the flying public,” he said. “We own these issues and will make them right.” REUTERS | https://www.straitstimes.com/world/boeing-to-withdraw-max-7-exemption-request-as-safety-scrutiny-intensifies | 2024-01-30T02:31:48Z | blocked_url |
British Columbia will stop approvals of new colleges seeking to enroll international students until February 2026, the government of the Canadian province said on Monday.
The province will set minimum language requirements at private training institutions and also set higher standards for labor market needs and degree quality.
The move comes as the Canadian government has been attempting to curb a surge in immigration of international students, which has been partly blamed for a shortage of rental units and a 7.7% rise in rents nationwide in December versus a year earlier.
Last week, the federal government announced an immediate, two-year cap on new international student permits, which will cut the country's intake by 35% this year to about 360,000. It will also stop giving work permits to some students after graduation.
As of the end of last year, there were about 1 million international study permit holders in Canada, an amount about three times larger than that of a decade ago, according to government data.
Canada has emerged as a popular destination for international students since it is relatively easy for them to obtain work permits after they finish courses. REUTERS | https://www.straitstimes.com/world/british-columbia-to-pause-approvals-of-new-colleges-seeking-to-enroll-foreign-students | 2024-01-30T02:31:59Z | blocked_url |
CHICAGO - New York State’s comptroller has asked Boeing CEO Dave Calhoun to explain how it is handling its current crisis in the wake of a door plug blowout on its 737 Max 9 aircraft early in January, according to a letter on Jan 29 seen by Reuters.
The comptroller’s office oversees the state’s pension system, which held a 0.16 per cent stake in the US planemaker at the end of September 2023.
In his letter, New York Comptroller Thomas DiNapoli asked Mr Calhoun to detail the steps taken by the company, thus far, to “ameliorate” immediate quality and safety issues as well as the longer-term reforms needed to prevent a repeat.
Mr DiNapoli also asked about the role of Boeing’s board in overseeing the current crisis.
“How will you restore confidence among your customers and the flying public?“ he wrote.
Boeing did not immediately respond to a request for comments.
The company, long a symbol of America’s manufacturing prowess, is in the crosshairs of regulators, politicians and airlines following the Jan 5 incident, which is under investigation.
On Jan 5, a two-month-old Boeing 737 Max 9 narrowly escaped disaster after a mid-cabin door plug blew out the left side of the jet as it climbed from Portland, Oregon, en route to Ontario, California, forcing pilots to turn back and land safely with 171 passengers and six crew on board.
While the US Federal Aviation Administration has allowed grounded Max 9 planes to return to service after inspections, it has imposed a freeze on production increases of the single-aisle 737 Max - Boeing’s best-selling jets.
The planemaker and its Max jets have been under scrutiny ever since crashes of the more widely-sold Max 8 killed 346 people in 2018 and 2019. It led to worldwide groundings for 20 months.
The latest troubles are upending the aerospace industry’s 2024 plans, changing airlines’ fleet and expansion goals.
Several industry commentators, including influential analyst Richard Aboulafia, have called on Mr Calhoun or other executives and board members to step aside.
Mr DiNapoli wrote the recent events have “fuelled a narrative that Boeing continues to be plagued by safety and oversight failures”. REUTERS | https://www.straitstimes.com/world/united-states/new-york-state-comptroller-asks-boeing-ceo-to-explain-handling-of-max-9-fallout | 2024-01-30T02:32:09Z | blocked_url |
WASHINGTON - Two days after a man called in a fake emergency at the South Carolina home of Republican presidential candidate Nikki Haley, she was targeted by a second “swatting” attempt on New Year’s Day, this time by someone who said Mrs Haley had shot her daughter, according to an incident report seen by Reuters.
A Charleston County sheriff’s deputy responded on Jan 1 to Mrs Haley’s home after a person who identified themself as “Rose” called 911 claiming Mrs Haley’s daughter was lying in a pool of blood and Mrs Haley was threatening to shoot herself, a sheriff’s office report said.
The caller claimed to be on the phone with Mrs Haley.
The deputy spoke to an unidentified woman at the front door who matched Mrs Haley’s description and quickly concluded the call was a hoax, according to the report, which Reuters received in response to a request for records of swatting incidents at Mrs Haley’s residence.
The Jan 1 swatting attempt has not been previously reported.
The hoaxes against Mrs Haley, who is challenging frontrunner former President Donald Trump for the Republican presidential nomination, occurred in the town of Kiawah Island, an affluent, gated South Carolina community of around 2,000 people.
Reuters reported on Jan 27 that Mrs Haley’s Kiawah Island home had been swatted on Dec 30, when a man called authorities and claimed to have shot a woman and threatened to harm himself at her home.
The swatting incidents are among a wave of violent threats, bomb scares and other acts of intimidation against government officials, members of the judiciary and election administrators since the 2020 election that have alarmed US law enforcement officials ahead of this year’s US presidential contest.
Mrs Haley did not immediately respond to a request for comment. The sheriff’s office has not publicly identified any suspects in the hoax calls.
Swatting is the filing of false reports to the police to set off a potentially dangerous response by officers.
Law enforcement experts see it as a form of intimidation or harassment that is increasingly being used to target prominent figures, including officials involved in the civil and criminal cases against Trump.
On NBC’s “Meet the Press” on Jan 28, Mrs Haley alluded to a second swatting attempt but did not provide a date for the incident or share details of what happened. “I think we’ve had it happen twice,” she said.
Swatting cases have surged over the past two months, targeting both allies and rivals of Trump as he campaigns to return to the White House.
“Swatting and physical threats are designed to terrorize the civil servants our democracy relies upon,” said Mr David Becker, executive director of the non-partisan Center for Election Innovation and Research. “As the presidential campaign ramps up, it appears that harassment is increasing.”
Targets have included figures publicly opposed to Trump, such as Maine Secretary of State Shenna Bellows, a Democrat who barred him from her state’s primary ballot.
Judges and at least one prosecutor handling cases against Trump have been targeted. But Trump backers such as US Representative Marjorie Taylor Greene have also faced swatting attempts.
Guns drawn, elderly parents home
In the Dec 30 incident, Mrs Haley’s parents, aged 87 and 90, and their caretaker were home at the time, according to records received by Reuters on Jan 29, which provided new information on the incident.
Deputies “observed a silhouette of an individual through the second-floor window balcony. Deputies presented their weapons and ordered the individual to raise their hands,” an incident report from the sheriff’s office said.
Deputies then observed two people raise their hands, and possibly a third person, through the window.
The incident report did not identify the individuals.
But Mrs Haley said on Jan 28 that deputies had “guns drawn pointing at my parents.”
A deputy approached the front door and spoke to the caretaker, who said no one had been shot, the incident report said. Deputies later spoke to the homeowner, seemingly Mrs Haley, on the phone, it added.
“It put my family in danger,” Mrs Haley said in the Jan 28 TV interview about the Dec 30 incident. “It was not a safe situation. And that goes to show the chaos that’s surrounding our country right now.”
The call was made by a man who identified himself as “Travis,” according to the incident report.
Officials spoke with the occupants of the home and let them listen to the 911 call, but they “did not recognise the voice,” the report said.
Authorities were unable to locate the number the call originated from, the report added.
However, authorities appear to have more information about the Jan 1 call. The report on that incident, which was released to Reuters with redactions, said authorities had determined the caller’s phone number.
Mrs Haley and her husband bought the US$2.4 million (S$3.21 million) Kiawah Island residence in October 2019, local property records indicate. REUTERS | https://www.straitstimes.com/world/united-states/republican-candidate-nikki-haley-was-targeted-in-second-swatting-attempt | 2024-01-30T02:32:19Z | blocked_url |
WASHINGTON/CARACAS - The United States on Jan 29 began reinstating sanctions on Venezuela and a Biden administration source said a roll-back of restrictions on the oil industry could be allowed to expire, after the South American country’s top court upheld a ban blocking the candidacy of the leading opposition hopeful in presidential elections.
The United States had granted sanctions relief for Opec member Venezuela in October 2023 in recognition of a deal for elections this year.
But that relief was conditioned on President Nicolas Maduro’s government freeing certain opposition-linked and American prisoners and making progress toward removing bans on a number of opposition figures.
Though Venezuela in December 2023 carried out a prisoner swap, the Maduro-allied Supreme Court on Jan 26 kept in place a ban on opposition candidate Maria Corina Machado, upholding prior findings that she had supported the sanctions, was involved in corruption and lost money associated with Venezuela’s foreign assets.
Several opposition members were arrested the same day.
In a first reinstatement of sanctions, the Treasury Department said on Jan 29 evening any US entities conducting transactions with Venezuelan state-owned gold mining firm Minerven will have until Feb 13 to wind them down.
The move came hours after a Biden administration official had said the Treasury license that broadly restored dealings with Venezuela’s oil industry would be allowed to expire on April 18 if Machado and other opposition figures were not allowed to run.
“Unless Maduro and his representatives in Venezuela are able to get back on track, specifically with regard to allowing all presidential candidates to compete in this year’s election, we will not be in a position to renew General Licence 44, which provides relief to Venezuela’s oil and gas sector when it comes up for renewal in April,” the White House official said on condition of anonymity.
The official said the US was also considering additional, unspecified measures to punish the Venezuelan government.
White House national security spokesman John Kirby said earlier on Jan 29 that US measures would depend on Mr Maduro and his government.
“They’ve got till the spring to honour their commitments,” he told a daily briefing. “They’ve got decisions they have to make before we weigh what decisions we’ll take.”
Machado, a 56-year-old industrial engineer who overwhelmingly won an October opposition primary vote, said on Jan 29 she would not move aside in favour of a substitute.
“There is no retreat. We have a mandate and we will complete it,” Machado told a press conference in Caracas.
The ruling was “judicial crime,” she said, adding there will be many obstacles still to overcome but there will be elections this year.
Mr Jorge Rodriguez, a lawmaker who heads Mr Maduro’s team in negotiations with the opposition, said prior to the Treasury decision that if Washington took “any aggressive action,” Venezuela’s response would be “serene, reciprocal and energetic.”
Mr Maduro repeated the same rhetoric during his weekly television show on Jan 29 evening, without commenting directly on the Minerven decision. REUTERS | https://www.straitstimes.com/world/united-states/us-begins-reimposing-sanctions-on-venezuela-oil-may-come-next | 2024-01-30T02:32:30Z | blocked_url |
WASHINGTON - The US government in recent months launched an operation to fight a pervasive Chinese hacking operation that successfully compromised thousands of Internet-connected devices, according to two Western security officials and one person familiar with the matter.
The Justice Department and Federal Bureau of Investigation sought and received legal authorisation to remotely disable aspects of the Chinese hacking campaign, the sources told Reuters.
The Biden administration has increasingly focused on hacking, not only for fear nation states may try to disrupt the US election in November, but because ransomware wreaked havoc on Corporate America in 2023.
The hacking group at the centre of recent activity, Volt Typhoon, has especially alarmed intelligence officials who say it is part of a larger effort to compromise Western critical infrastructure, including naval ports, Internet service providers and utilities.
While the Volt Typhoon campaign initially came to light in May 2023, the hackers expanded the scope of their operations late last year and changed some of their techniques, according to three people familiar with the matter.
The widespread nature of the hacks led to a series of meetings between the White House and private technology industry, including several telecommunications and cloud commuting companies, where the US government asked for assistance in tracking the activity.
Such breaches could enable China, national security experts said, to remotely disrupt important facilities in the Indo-Pacific region that in some form support or service US military operations. Sources said US officials are concerned the hackers were working to hurt US readiness in case of a Chinese invasion of Taiwan.
China, which claims democratically governed Taiwan as its own territory, has increased its military activities near the island in recent years in response to what Beijing calls “collusion” between Taiwan and the United States.
The Justice Department and FBI declined to comment. The Chinese embassy in Washington did not immediately respond to a request for comment.
When Western nations first warned about Volt Typhoon in May, Chinese foreign ministry spokeswoman Mao Ning said the hacking allegations were a “collective disinformation campaign” from the Five Eyes countries, a reference to the intelligence sharing grouping of countries made up of the United States, Canada, New Zealand, Australia and the UK.
Volt Typhoon has functioned by taking control of swathes of vulnerable digital devices around the world - such as routers, modems, and even Internet-connected security cameras - to hide later, downstream attacks into more sensitive targets, security researchers told Reuters.
This constellation of remotely controlled systems, known as a botnet, are of primary concern to security officials because they limit the visibility of cyber defenders that monitor for foreign footprints in their computer networks.
“How it works is the Chinese are taking control of a camera or modem that is positioned geographically right next to a port or ISP (internet service provider) and then using that destination to route their intrusions into the real target,” said a former official familiar with the matter. “To the IT team at the downstream target it just looks like a normal, native user that’s sitting nearby.”
The use of so-called botnets by both government and criminal hackers to launder their cyber operations is not new. The approach is often used when an attacker wants to quickly target numerous victims simultaneously or seeks to hide their origins. REUTERS | https://www.straitstimes.com/world/united-states/us-disabled-chinese-hacking-network-volt-typhoon-targeting-critical-infrastructure-sources-say | 2024-01-30T02:32:40Z | blocked_url |
We see daily analyst upgrades and downgrades, coming with price targets. They can be helpful tools for investors, providing a more structured plan and helping to inject positivity surrounding future performance.
Of course, stocks don’t straightforwardly reach price targets, as unforeseen circumstances can always influence performance. Overall, the positive shift in sentiment can be seen as a primary takeaway from these upgrades.
Recently, three stocks – AbbVie (ABBV - Free Report) , Hershey (HSY - Free Report) , and Dollar Tree (DLTR - Free Report) – have all gotten favorable upgrades from analysts. Let’s take a closer look at each.
AbbVie
William Blair upgraded AbbVie shares to Outperform and provided a fresh $190 per share price target, which implies roughly 15% upside from today’s levels. It’s worth noting that the upgrade came just a few days before the company’s next quarterly release expected this Friday, February 2nd, before the market’s open.
AbbVie has been a consistent earnings performer as of late, exceeding our consensus revenue and EPS expectations in each of its last three releases. Concerning its latest print, the better-than-expected results were driven by a strong performance across its non-Humira growth platform, allowing the company to lift its guidance for FY23.
The company’s shareholder-friendly nature certainly can’t be overlooked, holding a spot in the elite Dividend Aristocrats club. ABBV shares presently yield a solid 3.8% annually paired with a sustainable payout ratio sitting at 50% of its earnings.
Image Source: Zacks Investment Research
Shares trade at a premium relative to historical levels, with the current 14.5X forward 12-month earnings multiple above the 9.1X five-year median. Still, the current multiple compares favorably to its Zacks – Large Cap Pharmaceuticals industry average of 18.9X.
Image Source: Zacks Investment Research
Hershey
Bernstein upgraded Hershey shares to Outperform, with its $235 price target suggesting more than 20% upside from current levels. Shares have had a rough showing over the last year, down roughly 12% and underperforming relative to the general market.
Like ABBV, Hershey carries a shareholder-friendly nature, currently sporting a 10% five-year annualized dividend growth rate.
Image Source: Zacks Investment Research
The company’s steady growth is slated to continue, with consensus expectations for its current year suggesting 12% earnings growth on 8% higher sales. Peeking ahead to FY24, estimates allude to an additional 3% of bottom line expansion paired with a 2.9% sales increase.
Image Source: Zacks Investment Research
Dollar Tree
JPMorgan upgraded Dollar Tree to Overweight and moved its price target up to $157 per share, implying 18% upside from current levels. Shares have displayed a modest amount of relative strength over the last three months, up 21% compared to the S&P 500’s impressive 18% gain.
Image Source: Zacks Investment Research
Consensus expectations for its next quarterly release suggest solid growth, with earnings forecasted to climb 13% year-over-year on 12% improved sales. Analysts have shown optimism for the release, taking the $2.66 Zacks Consensus EPS Estimate 3% higher since November.
Image Source: Zacks Investment Research
Bottom Line
Price targets can be helpful tools. Of course, it’s critical to note that not all stocks reach these forecasted levels, as unforeseen circumstances can always affect future performance.
Still, the positivity surrounding upgrades can be seen as a solid takeaway.
For those seeking stocks that analysts have recently received favorable coverage, all three above – AbbVie (ABBV - Free Report) , Hershey (HSY - Free Report) , and Dollar Tree (DLTR - Free Report) – precisely fit the criteria.
See More Zacks Research for These Tickers
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Dollar Tree, Inc. (DLTR) - free report >> | https://www.zacks.com/stock/news/2217509/3-stocks-enjoying-favorable-analyst-coverage | 2024-01-30T02:34:59Z | blocked_url |
Research Daily
Today's Must Read
User Growth, Instagram Strength Aids Meta Platforms (META)
Solid Insurance Business Aid Berkshire (BRK.B), Cat Loss Ail
Decent Comparable Sales Run to Fuel Costco's (COST) Top Line
Monday, January 29, 2024
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Meta Platforms, Inc. (META), Berkshire Hathaway Inc. (BRK.B) and Costco Wholesale Corporation (COST). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Meta Platforms shares have outperformed the Zacks Internet - Software industry over the past year (+168.0% vs. +65.0%). The company is benefiting from steady user growth across all regions, particularly Asia Pacific. Increased engagement for its offerings like Instagram, WhatsApp, Messenger and Facebook has been a major growth driver.
Meta Platforms is leveraging AI to recommend Reels content, which is driving traffic on Instagram and Facebook. Its innovative portfolio, which includes Threads, Reels and Llama 2, is likely to aid prospects.
However, challenging macroeconomic conditions remain a headwind for Meta’s advertising revenues, along with targeting and measurement headwinds due to Apple’s iOS changes. Slow monetization of Reels, along with mounting operating losses at Reality Labs, are concerns
(You can read the full research report on Meta Platforms here >>>)
Shares of Berkshire Hathaway have outperformed the Zacks Insurance - Property and Casualty industry over the past year (+25.4% vs. +21.4%). The company is one of the largest property and casualty insurance companies with numerous diverse business activities. A strong cash position supports earnings-accretive bolt-on buyouts and is indicative of its financial flexibility.
Continued insurance business growth fuels increase in float, drive earnings and generates maximum return on equity. The non-insurance businesses have also been doing well in the last few years. The addition of Pilot Travel Centers (PTC) has strengthened its energy business. A sturdy capital level provides further impetus.
However, exposure to cat loss induces earnings volatility and also affects the underwriting results. Huge capital expenditure remains a headwind. With the demise of Charles Munger, uncertainty looms over the company's performance.
(You can read the full research report on Berkshire Hathaway here >>>)
Costco Wholesale’s shares have outperformed the Zacks Retail - Discount Stores industry over the past year (+40.6% vs. +15.6%). The company being a consumer defensive stock, has been surviving the market turmoil pretty well. The discount retailer’s key strengths are strategic investments, a customer-centric approach, merchandise initiatives, and an emphasis on membership growth.
These factors have been helping it register decent sales and earnings numbers. This outlook reflects Costco’s ability to navigate the challenging operating environment, generate solid sales, and register high membership renewal rates.
A favorable product mix, steady store traffic, pricing power and strong liquidity position should help Costco keep outperforming. While trading at a premium to its peers, its long-term growth prospects should help the stock see a solid upside.
(You can read the full research report on Costco Wholesale here >>>)
Other noteworthy reports we are featuring today include Comcast Corporation (CMCSA), RTX Corporation (RTX) and PACCAR Inc (PCAR).
Director of Research
Sheraz Mian
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>> | https://www.zacks.com/research-daily/2217106/top-research-reports-for-meta-platforms-berkshire-hathaway-costco-wholesale?-costco-wholesale | 2024-01-30T02:38:37Z | blocked_url |
The rise in service activities, along with increased digital marketing services and the success of the work-from-home trend, is enabling the Zacks Advertising and Marketing industry to counter the prevailing revenue softness.
Customer-centric approaches to business, digital strategies and technology investments are helping Publicis Groupe S.A. (PUBGY - Free Report) , Omnicom Group Inc. (OMC - Free Report) and WPP plc (WPP - Free Report) to sail through the current testing times.
About the Industry
The Zacks Advertising and Marketing industry comprises companies that offer an extensive range of services, including advertising, branding, content marketing, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications and in-store design services. Prominent players from the industry include Interpublic and Omnicom. The pandemic has changed the way industry players have conducted business and delivered services so far. Currently, the industry’s key focus is on channelizing money and efforts toward media formats and devices. To position themselves suitably in the post-pandemic era, service providers are increasing their efforts toward formulating strategic initiatives and identifying sources of demand.
What's Shaping the Future of the Industry?
Economic Recovery: The sector is a major beneficiary of the broader economy and service activities. According to the Bureau of Economic Analysis, GDP grew at an annual rate of 2.5% in 2023 compared with 1.9% growth in 2022. Economic activities in the non-manufacturing sector are in good shape. The Services PMI measured by the Institute for Supply Management has stayed above the 50% mark for the past 12 months, indicating continued expansion.
Reviving Demand: The industry is mature, with demand for services remaining stable over time. Revenues, income and cash flows are anticipated to gradually reach pre-pandemic levels, aiding most industry players in paying out stable dividends.
Digital Marketing Gathering Steam: Digital media consumption has shot up, with consumers spending more time on various media platforms and video-streaming services. Thus, agencies offering digital marketing services stand to gain, as these firms are better positioned to address the rapid change in customer preference.
Zacks Industry Rank Indicates Bright Near-Term Prospects
The Zacks Advertising and Marketing industry, housed within the broader Zacks Business Services sector, currently carries a Zacks Industry Rank #53. This rank places it in the top 21% 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 solid near-term growth prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock market performance and current valuation:
Industry's Price Performance
Over the past year, the Zacks Advertising and Marketing industry has fallen while the S&P 500 composite and the broader sector witnessed growth. The industry has declined 5.9% against the S&P 500 composite’s growth of 22.9%. The broader sector has gained 15% in the said time frame.
One-Year Price Performance
Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing advertising and marketing stocks, the industry is currently trading at 10.57X compared with the S&P 500’s 20.47X and the sector’s 20.05X.
Over the past five years, the industry has traded as high as 16.98X and as low as 7.74X, with the median being 11.24X, as the charts below show.
Price to Forward 12 Months P/E Ratio
3 Advertising Stocks to Consider
Here, we have presented three stocks that are well-positioned for near-term growth:
Omnicom: The company is a provider of advertising, marketing and corporate communications services. Consistency and diversity of operations and focus on delivering consumer-centric strategic business solutions ensure the long-term profitability for Omnicom. It has divested underperforming and non-core businesses and reorganized them to meet clients’ ever-transforming needs.
The Zacks Consensus Estimate for the company’s 2024 EPS has been revised 0.8% over the past 60 days. It currently carries a Zacks Rank #2 (Buy). Shares of Omnicom have gained 22% in the past three months.
Price and Consensus: OMC
Publicis: The company is a provider of marketing, communications and digital business transformation services. It is witnessing strength across regions, especially in the United States and Europe, driven by strong momentum in account wins.
The Zacks Consensus Estimate for the company’s 2023 EPS increased 2% over the past 60 days. Shares of Publicis have gained 30.4% in the past three months. The company currently carries a Zacks Rank #2.
Price and Consensus: PUBGY
WPP plc: This provider of communications, experience, commerce and technology services has gained 15.3% in the past three months. WPP continues to win creative and media assignments from leading global organizations. Its net new business performance remains in good shape.
The Zacks Consensus Estimate for the company’s 2024 EPS has increased 2% over the past 60 days. The company currently carries a Zacks Rank #2.
Price and Consensus: WPP
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Several stocks from a variety of sectors are standing out after beating earnings expectations last Friday. Following their favorable quarterly results now appears to be a good time to buy as earnings estimate revisions are likely to trend higher in the following weeks.
This could very well lead to a nice amount of upside in these stocks and here are three to consider right now.
Booz Allen Hamilton (BAH - Free Report)
We’ll start with Booz Allen Hamilton as the management and technology solutions provider was added to the Zacks Rank #1 (Strong Buy) list after posting strong results for its fiscal third quarter last Friday.
Providing cyber expertise, analytics, engineering, and digital solutions to the United States and international governments it's noteworthy that Booz Allen’s Zacks Government Services Industry is in the top 1% of over 250 Zacks industries. Correlating with such Q3 earnings of $1.41 per share surpassed the Zacks Consensus of $1.13 a share by 25% and soared 32% from $1.07 a share in the prior-year quarter.
Image Source: Zacks Investment Research
Booz Allen was also able to beat top line estimates by 1.54% with Q3 sales at $2.56 billion. Third quarter sales rose 13% year over year and Booz Allen raised its full-year 2024 outlook. The company now sees revenue growth at 14-15% this year compared to previous forecast of 11-14%. Booz Allen now forecasts adjusted earnings at $5.25-$5.40 per share versus previous guidance of $4.95-$5.10 a share.
In addition to this Booz Allen raised its quarterly dividend by 8% to $0.51 a share and has now boosted its yield seven times in the last five years. Notably, Booz Allen’s total return over the last year is a very stellar +56% when including dividends and BAH shares hit 52-week highs of $147.52 last Friday.
Image Source: Zacks Investment Research
ColgatePalmolive (CL - Free Report)
Consumer staples giant Colgate-Palmolive looks attractive following its Q4 results and currently sports a Zacks Rank #2 (Buy). The home care consumer products company and oral hygiene titan posted Q4 earnings of $0.87 a share which beat expectations by 2%. Fourth quarter earnings jumped 13% YoY with sales of $4.95 billion beating estimates by 1% and rising 7% from $4.62 billion in the comparative quarter.
Furthermore, Colgate has now surpassed earnings expectations in each of its last four quarterly reports with its Latin America and Europe region sales propelling the company of late. Latin America and Europe net sales were up 18% and 10% respectively during Q4. Colgate’s stock is up a respectable +15% over the last year after hitting 52-week highs of $84 a share today. Plus, Colgate’s 2.32% annual dividend yield should keep investors locked in as macroeconomic conditions have improved significantly.
Image Source: Zacks Investment Research
Gentex (GNTX - Free Report)
Lastly, Gentex sports a Zacks Rank #2 (Buy) with the automotive original equipment manufacturer posting very reassuring Q4 results. As a provider of automatic-dimming rear-view mirrors and electronics, Gentex’s Q4 earnings of $0.50 a share topped the Zacks Consensus by 13% with sales of $589.13 million coming in 5% better than expected.
Year over year Q4 EPS climbed 37% from $0.37 a share in the comparitive quarter with quartelry sales expanding 19%. Gentex has exceeded earnings expectations in each of its last four quarterly reports posting an impressive average earnings surprise of 12.2%. Quieting fears of a potential negative impact from the UAW strikes, Gentex stock is now up +18% in the last year and is hovering near its 52-week highs of $34.33 a share seen last August. Gentex also offers a modest 1.42% annual dividend yield.
Image Source: Zacks Investment Research
Bottom Line
Booz Allen Hamilton, Colgate-Palmolive, and Gentex have started to reconfirm their growth expectations with many analysts raising their price targets for these stocks after stong quarterly results making now an ideal time to buy.
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It’s a highly critical week for earnings, with several mega-cap technology companies slated to reveal quarterly results. The strength of these mega-cap names has been admired by all, with many expecting positive results to keep overall market momentum flowing.
Perhaps the most popular of the bunch, market leader Apple (AAPL - Free Report) will reveal quarterly results on February 1st after the market’s close. The company has been on a solid earnings streak as of late, exceeding our consensus earnings and revenue expectations in three consecutive quarters.
Shares got a nice boost following its latest set of results, sparking a strong rally.
Image Source: Zacks Investment Research
How do expectations stack up heading into the release? Let’s take a quick look at headline estimates and a few key other metrics to keep an eye on within the release.
Headline Figures
Analysts have been bullish regarding the bottom line, with the $2.09 Zacks Consensus EPS Estimate up a modest 1.5% since November and suggesting growth of roughly 11% year-over-year.
Image Source: Zacks Investment Research
Revenue expectations have been revised modestly lower, as the $117 billion quarterly sales estimate has been taken 1.4% lower over the same period.
Image Source: Zacks Investment Research
Key Metrics
Apple’s services portfolio has also been a great source of growth over the last several years. It includes Apple Music, Apple TV+, Apple Arcade, Apple Pay, and more.
For the quarter, we expect the company to post $23.3 billion in revenue from Services, nicely above the year-ago mark of $20.7 billion, reflecting 12.5% growth. Apple has consistently positively surprised on this metric as of late, as we can see below.
Image Source: Zacks Investment Research
As expected, iPhone revenue will also be a big focus, particularly as the company continues to face competition in other markets. For the quarter, we expect Apple to post $68.6 billion in iPhone revenue, suggesting an increase of roughly 4% year-over-year.
iPhone results have been primarily mixed as of late, with the company falling short of consensus expectations in back-to-back releases.
Image Source: Zacks Investment Research
Valuation
Shares are trading at a premium relative to historical levels, with the current 28.4X forward 12-month earnings multiple sitting above the 25.2X five-year median. The forward 12-month price-to-sales ratio sits at 7.4X, near five-year highs and above the 6.0X five-year median.
Still, investors have had little issue forking up the premium given the company’s dominant stance, as reflected by the share performance.
Image Source: Zacks Investment Research
Bottom Line
We’ve got a loaded slate of earnings this week, with beloved Apple (AAPL - Free Report) a part of the reporting docket. Earnings estimates have been taken higher whereas revenue expectations have fallen modestly, with both items expected to be higher than the year-ago period.
Investors will closely watch the company’s Services results as well as iPhone sales, two key growth drivers for Apple. Heading into the release, the stock is presently a Zacks Rank #3 (Hold). | https://www.zacks.com/commentary/2217427/apple-q1-earnings-key-metrics-to-watch | 2024-01-30T02:38:56Z | blocked_url |
For investors seeking momentum, Alerian MLP ETF (AMLP - Free Report) is probably on radar. The fund just hit a 52-week high and is up 25.4% from its 52-week low price of $35.68/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
AMLP in Focus
The underlying Alerian MLP Infrastructure Index is capped, float-adjusted, capitalization-weighted composite of energy infrastructure Master Limited Partnerships that earn the majority of their cash flow from the transportation, storage, and processing of energy commodities. The expense ratio of the ETF is 0.85%.
Why the Move?
The Master Limited Partnerships (MLPs) corner of the broad energy space has been an area to watch lately, given the rise in oil prices. MLPs represent an attractive investment option for income-focused investors as these pay out substantially all of their income to investors on a regular basis.
These have relatively consistent and predictable cash flows, making them safer and less risky than the other plays in the broader energy space. In addition to high yields and the potential for capital appreciation, MLPs also have lower volatility and provide diversification benefits to the portfolio.
More Gains Ahead?
The momentum in AMLP remains strong, given a positive weighted alpha of 13.10. There is definitely still some promise for investors who want to ride on this surging ETF. | https://www.zacks.com/stock/news/2216863/mlp-etf-amlp-hits-new-52-week-high | 2024-01-30T02:39:02Z | blocked_url |
If you've been stuck searching for Mutual Fund Equity Report funds, consider Thrivent Large Cap Value Fund S (TLVIX - Free Report) as a possibility. TLVIX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
TLVIX finds itself in the Thrivent family, based out of Appleton, WI. The Thrivent Large Cap Value Fund S made its debut in December of 1997 and TLVIX has managed to accumulate roughly $1.88 billion in assets, as of the most recently available information. The fund's current manager, Kurt Lauber, has been in charge of the fund since March of 2013.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of 13.09%, and it sits in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 12.49%, which places it in the top third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 15.54%, the standard deviation of TLVIX over the past three years is 17.22%. The fund's standard deviation over the past 5 years is 19.72% compared to the category average of 17.26%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 0.98, so investors should note that it is hypothetically as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. The fund has produced a negative alpha over the past 5 years of -1.69, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Holdings
Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is largely on equities that are traded in the United States.
Currently, this mutual fund is holding 89.21% in stocks, with an average market capitalization of $181.58 billion. The fund has the heaviest exposure to the following market sectors:
- Finance
- Technology
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, TLVIX is a no load fund. It has an expense ratio of 0.56% compared to the category average of 0.94%. From a cost perspective, TLVIX is actually cheaper than its peers.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $50.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Thrivent Large Cap Value Fund S ( TLVIX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into TLVIX too for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible. | https://www.zacks.com/stock/news/2216865/is-thrivent-large-cap-value-fund-s-tlvix-a-strong-mutual-fund-pick-right-now? | 2024-01-30T02:39:08Z | blocked_url |
If you have been looking for Mutual Fund Equity Report funds, a place to start could be Parnassus Mid-Cap Investor (PARMX - Free Report) . PARMX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
PARMX finds itself in the Parnassus family, based out of San Francisco, CA. The Parnassus Mid-Cap Investor made its debut in April of 2005 and PARMX has managed to accumulate roughly $1.48 billion in assets, as of the most recently available information. The fund's current manager is a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. PARMX has a 5-year annualized total return of 8.76% and is in the bottom third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 0.95%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. PARMX's standard deviation over the past three years is 18.67% compared to the category average of 16.76%. Over the past 5 years, the standard deviation of the fund is 19.38% compared to the category average of 18.54%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
Investors should note that the fund has a 5-year beta of 0.99, so it is likely going to be as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. Over the past 5 years, the fund has a negative alpha of -5.66. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, PARMX is a no load fund. It has an expense ratio of 0.96% compared to the category average of 0.94%. PARMX is actually more expensive than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $2,000, and each subsequent investment should be at least $50.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, even with its comparatively weak performance, average downside risk, and higher fees, Parnassus Mid-Cap Investor ( PARMX ) has a high Zacks Mutual Fund rank, and therefore looks a good potential choice for investors right now.
Don't stop here for your research on Mutual Fund Equity Report funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare PARMX to its peers as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible. | https://www.zacks.com/stock/news/2216866/is-parnassus-mid-cap-investor-parmx-a-strong-mutual-fund-pick-right-now? | 2024-01-30T02:39:15Z | blocked_url |
Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with Fidelity Asset Manager 50% (FASMX - Free Report) . FASMX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
FASMX finds itself in the Fidelity family, based out of Boston, MA. Fidelity Asset Manager 50% debuted in December of 1988. Since then, FASMX has accumulated assets of about $7.29 billion, according to the most recently available information. The fund is currently managed by Avishek Hazrachoudhury who has been in charge of the fund since April of 2018.
Performance
Of course, investors look for strong performance in funds. FASMX has a 5-year annualized total return of 7.47% and is in the bottom third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 1.84%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of FASMX over the past three years is 11.06% compared to the category average of 13.93%. Over the past 5 years, the standard deviation of the fund is 11.48% compared to the category average of 14.96%. This makes the fund less volatile than its peers over the past half-decade.
Risk Factors
Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. FASMX has a 5-year beta of 0.59, which means it is likely to be less volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. With a negative alpha of -2.54, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, FASMX is a no load fund. It has an expense ratio of 0.61% compared to the category average of 0.94%. FASMX is actually cheaper than its peers when you consider factors like cost.
Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Fidelity Asset Manager 50% ( FASMX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, Fidelity Asset Manager 50% ( FASMX ) looks like a great potential choice for investors right now.
This could just be the start of your research on FASMXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are. | https://www.zacks.com/stock/news/2216867/is-fidelity-asset-manager-50-fasmx-a-strong-mutual-fund-pick-right-now? | 2024-01-30T02:39:21Z | blocked_url |
There are plenty of choices in the Mutual Fund Equity Report category, but where should you start your research? Well, one fund that may not be worth investigating is Brown Capital Management Small Company Investor (BCSIX - Free Report) . BCSIX bears a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
BCSIX finds itself in the Brown Capital Management family, based out of Rocky Mount, NC. Brown Capital Management Small Company Investor made its debut in July of 1992, and since then, BCSIX has accumulated about $715.96 million in assets, per the most up-to-date date available. The fund's current manager is a team of investment professionals.
Performance
Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 5.85%, and it sits in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of -10.88%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. BCSIX's standard deviation over the past three years is 22.55% compared to the category average of 18.06%. Over the past 5 years, the standard deviation of the fund is 23.83% compared to the category average of 19.75%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1.04, so investors should note that it is hypothetically more volatile than the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. Over the past 5 years, the fund has a negative alpha of -8.08. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, BCSIX is a no load fund. It has an expense ratio of 1.29% compared to the category average of 1.08%. So, BCSIX is actually more expensive than its peers from a cost perspective.
While the minimum initial investment for the product is $5,000, investors should also note that each subsequent investment needs to be at least $500.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Brown Capital Management Small Company Investor ( BCSIX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and higher fees, Brown Capital Management Small Company Investor ( BCSIX ) looks like a somewhat weak choice for investors right now.
Want even more information about BCSIX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible. | https://www.zacks.com/stock/news/2216868/is-brown-capital-management-small-company-investor-bcsix-a-strong-mutual-fund-pick-right-now? | 2024-01-30T02:39:28Z | blocked_url |
Mutual Fund Equity Report fund seekers should consider taking a look at MFS Growth Fund A (MFEGX - Free Report) . MFEGX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
History of Fund/Manager
MFS is based in Boston, MA, and is the manager of MFEGX. Since MFS Growth Fund A made its debut in December of 1986, MFEGX has garnered more than $8.32 billion in assets. The fund is currently managed by Eric B. Fischman who has been in charge of the fund since April of 2002.
Performance
Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 15.71%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 4.78%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. MFEGX's standard deviation over the past three years is 20.08% compared to the category average of 15.01%. Looking at the past 5 years, the fund's standard deviation is 19.56% compared to the category average of 16.01%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
The fund has a 5-year beta of 1, so investors should note that it is hypothetically as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. The fund has produced a positive alpha over the past 5 years of 0.29, which shows that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Holdings
Investigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is primarily on equities that are traded in the United States.
As of the last filing date, the mutual fund has 81.89% of its assets in stocks, and these companies have an average market capitalization of $563.02 billion. Turnover is 36%, which means this fund makes fewer trades than its comparable peers.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, MFEGX is a load fund. It has an expense ratio of 0.85% compared to the category average of 0.96%. From a cost perspective, MFEGX is actually cheaper than its peers.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, MFS Growth Fund A ( MFEGX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a great potential choice for investors right now.
For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are. | https://www.zacks.com/stock/news/2216869/is-mfs-growth-fund-a-mfegx-a-strong-mutual-fund-pick-right-now? | 2024-01-30T02:39:34Z | blocked_url |
Provident Financial (PROV - Free Report) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 19.23%. A quarter ago, it was expected that this holding company for Provident Savings Bank would post earnings of $0.28 per share when it actually produced earnings of $0.25, delivering a surprise of -10.71%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Provident Financial
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Provident Financial shares have added about 17.3% since the beginning of the year versus the S&P 500's gain of 2.5%.
What's Next for Provident Financial?
While Provident Financial 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 Provident Financial: 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 $0.26 on $10.05 million in revenues for the coming quarter and $1.05 on $40.03 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Savings and Loan is currently in the bottom 37% 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, New York Community Bancorp (NYCB - Free Report) , has yet to report results for the quarter ended December 2023. The results are expected to be released on January 31.
This bank holding company is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of +16%. The consensus EPS estimate for the quarter has been revised 4.8% lower over the last 30 days to the current level.
New York Community Bancorp's revenues are expected to be $935.9 million, up 62.2% from the year-ago quarter. | https://www.zacks.com/stock/news/2216874/provident-financial-prov-surpasses-q2-earnings-estimates | 2024-01-30T02:39:40Z | blocked_url |
DXC Technology (DXC - Free Report) is slated to report third-quarter fiscal 2024 results on Feb 1.
For the third quarter of fiscal 2024, the company anticipates revenues between $3.32 billion and $3.37 billion. The Zacks Consensus Estimate for fiscal third-quarter revenues stands at $3.36 billion, indicating a year-over-year decline of 5.8%.
DXC anticipates non-GAAP earnings between 75 cents and 80 cents per share. The consensus mark for earnings is pegged at 77 per share, suggesting a 19% year-over-year decrease.
The company’s earnings outpaced estimates twice in the trailing four quarters while matching on one occasion and missing once, with an average surprise of -1.8%.
Let’s see how things are shaping up for this announcement.
Factors to Consider
DXC’s third-quarter performance is likely to have been negatively impacted by softening IT spending as organizations are pushing back their investments in big and expensive technology products amid the ongoing macroeconomic and geopolitical issues.
Moreover, a weak traditional business is likely to have weighed on the to-be-reported quarter's performance. However, sequential revenue stabilization is expected to have continued.
The negative impacts of the aforementioned factors are likely to have been partially offset by DXC’s strength in the digital business and partnerships, which have been helping it expand in the cloud computing space.
The company expects third-quarter organic revenues to decline in the 4-5% range, considering the weaker demand environment amid the ongoing challenging macroeconomic situation. Our estimate suggests that DXC’s total organic revenues are likely to have dropped 4.8% in the to-be-reported quarter.
The year-over-year expected organic revenue decline is mainly due to an anticipated weak performance in DXC’s Global Infrastructure Services (“GIS”) as well as the Global Business Services (“GBS”) segment.
The GIS segment’s third-quarter performance is likely to have been negatively impacted by weakness in the IT Outsourcing and Modern Workplace areas, which are parts of this division.
Our estimate for the GIS segment’s third-quarter revenues is pegged at $1.68 billion, indicating a year-over-year decline of 8.7% on an organic basis. Meanwhile, our estimate of $1.67 billion for the GBS segment’s revenues suggests a year-over-year organic decline of 0.7%.
Furthermore, revenue shortfall is likely to have weighed on third-quarter margins. DXC projects the adjusted EBIT margin in the range of 7%-7.5% in the fiscal third quarter.
Additionally, DXC’s cost-saving initiatives and lower interest expenses are likely to have partially offset the negative impact of revenue shortfall on bottom-line results. Apart from the abovementioned factors, a reduction in shares outstanding on the company’s aggressive share repurchase initiative is likely to have boosted the EPS.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for DXC this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Though DXC currently carries a Zacks Rank of 3, it has an Earnings ESP of -2.14%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, Fabrinet (FN - Free Report) , Apple (AAPL - Free Report) and Meta Platforms (META - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Fabrinet carries a Zacks Rank #2 and has an Earnings ESP of +2.13%. The company is scheduled to report second-quarter fiscal 2024 results on Feb 5. Its earnings beat the Zacks Consensus Estimate in the preceding four quarters, with the average surprise being 3.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Fabrinet’s second-quarter earnings stands at $2.04 per share, indicating a year-over-year improvement of 7.4%. It is estimated to report revenues of $699.8 million, which suggests an increase of approximately 4.7% from the year-ago quarter.
Apple is slated to report first-quarter fiscal 2024 results on Feb 1. The company has a Zacks Rank #3 and an Earnings ESP of +1.96% at present. Apple’s earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 3.5%.
The Zacks Consensus Estimate for first-quarter earnings is pegged at $2.09 per share, suggesting an increase of 11.2% from the year-ago quarter’s earnings of $1.88. Apple’s quarterly revenues are estimated to improve marginally to $117.62 billion from $117.15 billion in the year-ago quarter.
Meta carries a Zacks Rank #2 and has an Earnings ESP of +0.51%. The company is scheduled to report fourth-quarter 2023 results on Feb 1. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 27.5%.
The Zacks Consensus Estimate for Meta’s fourth-quarter earnings is pegged at $4.84 per share, indicating a year-over-year increase of 61.3%. The consensus mark for revenues stands at $38.93 billion, calling for a year-over-year rise of 21%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Fabrinet (FN) - free report >> | https://www.zacks.com/stock/news/2216878/dxc-technology-dxc-to-report-q3-earnings-what-to-expect? | 2024-01-30T02:39:47Z | blocked_url |
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