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McDonald's (MCD) Gains But Lags Market: What You Should Know
In the latest trading session, McDonald's (MCD) closed at $204.51, marking a +0.34% move from the previous day. This change lagged the S&P 500's 0.97% gain on the day. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the world's biggest hamburger chain had gained 2.42% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.48% and the S&P 500's gain of 0.64% in that time.
MCD will be looking to display strength as it nears its next earnings release. On that day, MCD is projected to report earnings of $2.05 per share, which would represent year-over-year growth of 3.02%. Our most recent consensus estimate is calling for quarterly revenue of $5.30 billion, down 0.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.04 per share and revenue of $21 billion, which would represent changes of +1.77% and -0.12%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MCD. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. MCD currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MCD has a Forward P/E ratio of 25.35 right now. This represents a premium compared to its industry's average Forward P/E of 23.13.
Investors should also note that MCD has a PEG ratio of 2.85 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Restaurants industry currently had an average PEG ratio of 2.1 as of yesterday's close.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportMcDonald's Corporation (MCD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Illumina (ILMN) Stock Sinks As Market Gains: What You Should Know
Illumina (ILMN) closed the most recent trading day at $347.53, moving -1.02% from the previous trading session. This change lagged the S&P 500's 0.97% gain on the day. Elsewhere, the Dow gained 1.35%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the genetic testing tools company had gained 16.81% over the past month. This has outpaced the Medical sector's gain of 3.17% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from ILMN as it approaches its next earnings release. In that report, analysts expect ILMN to post earnings of $1.40 per share. This would mark a year-over-year decline of 2.1%. Meanwhile, our latest consensus estimate is calling for revenue of $886.93 million, up 6.86% from the prior-year quarter.
ILMN's full-year Zacks Consensus Estimates are calling for earnings of $6.68 per share and revenue of $3.76 billion. These results would represent year-over-year changes of +16.78% and +12.84%, respectively.
Any recent changes to analyst estimates for ILMN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ILMN is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ILMN currently has a Forward P/E ratio of 52.56. For comparison, its industry has an average Forward P/E of 23.04, which means ILMN is trading at a premium to the group.
Meanwhile, ILMN's PEG ratio is currently 2.44. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.78 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportIllumina, Inc. (ILMN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Halt Libra? US Lawmakers Call for Hearings on Facebook’s Crypto
The head of the U.S. House of Representatives Financial Services Committee wants Facebook to stop developing its new Libra cryptocurrency network – at least temporarily.
Congresswoman Maxine Waters asked Facebook to halt development of the Libra Network untilhearings can be held. The move follows a letter written to her by her Republican counterpart, Representative Patrick McHenry.
McHenrywrote, “We know there are many open questions as to the scope and scale of the project and how it will conform to our global financial regulatory framework,” adding:
Related:Bank of England Governor Says Facebook’s Libra Crypto Will Be Scrutinized
In a statement, Waters said, “with the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users.”
She added that there is currently no “clear regulatory framework to provide strong protections for investors, consumers and the economy,” when it comes to cryptocurrencies.
“We look forward to responding to lawmakers’ questions as this process moves forward,” a Facebook spokesperson said in a statement.
Related:Watch Facebook’s Libra Videos: An Inside Look At the Calibra Wallet
Waters and McHenry joined a small, bipartisan group of lawmakers in expressing concern about the Libra project.
Earlier, Senate Banking Committee ranking memberSherrod Brownsaid on Twitter that Facebook has exploited user data in the past, and cannot be allowed “to run a risky new cryptocurrency out of a Swiss bank account without oversight.” (The Libra currency will be governed by a Swiss foundation.)
The Senate Banking Committeewrote a letter to Facebooklast month asking a number of questions about how the project would work and how Facebook would handle user data.
A spokesperson for the company told CoinDesk on Tuesday that the social media gianthad yet to respond to the letter, and was working on answers to the questions.
Facebook image via Shutterstock
• Facebook’s Cryptocurrency Is a Nail in the Coffin for ‘Blockchain Not Bitcoin’
• Facebook Has Yet to Answer US Lawmakers’ Questions About Libra Crypto |
Arista Networks (ANET) Outpaces Stock Market Gains: What You Should Know
Arista Networks (ANET) closed the most recent trading day at $242.06, moving +1.45% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 1.39%.
Coming into today, shares of the cloud networking company had lost 2.59% in the past month. In that same time, the Computer and Technology sector lost 1.04%, while the S&P 500 gained 0.64%.
Investors will be hoping for strength from ANET as it approaches its next earnings release. The company is expected to report EPS of $2.21, up 14.51% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $606.67 million, up 16.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.35 per share and revenue of $2.55 billion, which would represent changes of +17.46% and +18.39%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ANET. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% lower. ANET is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, ANET is holding a Forward P/E ratio of 25.51. This represents a no noticeable deviation compared to its industry's average Forward P/E of 25.51.
It is also worth noting that ANET currently has a PEG ratio of 1.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Communication - Components was holding an average PEG ratio of 1.58 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportArista Networks, Inc. (ANET) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Wix.com (WIX) Stock Sinks As Market Gains: What You Should Know
Wix.com (WIX) closed the most recent trading day at $144.63, moving -0.4% from the previous trading session. This change lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 1.39%.
Coming into today, shares of the cloud-based web development company had gained 6.3% in the past month. In that same time, the Computer and Technology sector lost 1.04%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from WIX as it approaches its next earnings report date. On that day, WIX is projected to report earnings of $0.17 per share, which would represent a year-over-year decline of 41.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $183.78 million, up 25.77% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.83 per share and revenue of $761.91 million. These totals would mark changes of -22.43% and +26.21%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for WIX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. WIX is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, WIX currently has a Forward P/E ratio of 175.8. Its industry sports an average Forward P/E of 18.71, so we one might conclude that WIX is trading at a premium comparatively.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WIX in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportWix.com Ltd. (WIX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
PepsiCo (PEP) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, PepsiCo (PEP) closed at $132.06, marking a -0.35% move from the previous day. This change lagged the S&P 500's 0.97% gain on the day. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the food and beverage company had gained 1.95% over the past month. This has outpaced the Consumer Staples sector's gain of 1.05% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from PEP as it approaches its next earnings release, which is expected to be July 9, 2019. On that day, PEP is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 6.83%. Meanwhile, our latest consensus estimate is calling for revenue of $16.42 billion, up 2.08% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.51 per share and revenue of $66.52 billion. These totals would mark changes of -2.65% and +2.88%, respectively, from last year.
Any recent changes to analyst estimates for PEP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PEP is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, PEP currently has a Forward P/E ratio of 24.05. This represents a no noticeable deviation compared to its industry's average Forward P/E of 24.05.
Also, we should mention that PEP has a PEG ratio of 3.44. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Beverages - Soft drinks industry currently had an average PEG ratio of 2.23 as of yesterday's close.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PEP in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPepsico, Inc. (PEP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Turtle Beach (HEAR) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Turtle Beach (HEAR) closed at $11.11, marking a +1.83% move from the previous day. This move outpaced the S&P 500's daily gain of 0.97%. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the audio technology company had gained 16.93% over the past month. This has outpaced the Computer and Technology sector's loss of 1.04% and the S&P 500's gain of 0.64% in that time.
HEAR will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.17, down 142.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $42.66 million, down 29.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.12 per share and revenue of $246.12 million, which would represent changes of -63.28% and -14.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for HEAR. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. HEAR is currently a Zacks Rank #2 (Buy).
Looking at its valuation, HEAR is holding a Forward P/E ratio of 9.74. This valuation marks a discount compared to its industry's average Forward P/E of 25.51.
We can also see that HEAR currently has a PEG ratio of 1.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Communication - Components was holding an average PEG ratio of 1.58 at yesterday's closing price.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportTurtle Beach Corporation (HEAR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Enbridge (ENB) Outpaces Stock Market Gains: What You Should Know
Enbridge (ENB) closed the most recent trading day at $34.59, moving +1.02% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 1.39%.
Coming into today, shares of the oil and natural gas transportation and power transmission company had lost 8.33% in the past month. In that same time, the Oils-Energy sector lost 2.99%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. On that day, ENB is projected to report earnings of $0.39 per share, which would represent a year-over-year decline of 37.1%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $1.89 per share and revenue of $37.15 billion. These results would represent year-over-year changes of -7.8% and -3.45%, respectively.
It is also important to note the recent changes to analyst estimates for ENB. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.54% lower. ENB is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ENB is currently trading at a Forward P/E ratio of 18.14. Its industry sports an average Forward P/E of 15.79, so we one might conclude that ENB is trading at a premium comparatively.
We can also see that ENB currently has a PEG ratio of 2.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 4.28 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportEnbridge Inc (ENB) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Abbott (ABT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Abbott (ABT) closed at $83.42, marking a +1.67% move from the previous day. This change outpaced the S&P 500's 0.97% gain on the day. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 8.29% over the past month. This has outpaced the Medical sector's gain of 3.17% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from ABT as it approaches its next earnings release. On that day, ABT is projected to report earnings of $0.80 per share, which would represent year-over-year growth of 9.59%. Meanwhile, our latest consensus estimate is calling for revenue of $7.99 billion, up 2.82% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.22 per share and revenue of $31.92 billion. These totals would mark changes of +11.81% and +4.4%, respectively, from last year.
Any recent changes to analyst estimates for ABT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ABT is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ABT currently has a Forward P/E ratio of 25.51. This represents a no noticeable deviation compared to its industry's average Forward P/E of 25.51.
Also, we should mention that ABT has a PEG ratio of 2.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 2.39 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAbbott Laboratories (ABT) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Atlassian Corporation PLC (TEAM) Stock Sinks As Market Gains: What You Should Know
Atlassian Corporation PLC (TEAM) closed the most recent trading day at $129.55, moving -0.84% from the previous trading session. This move lagged the S&P 500's daily gain of 0.97%. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Coming into today, shares of the company had gained 4.9% in the past month. In that same time, the Computer and Technology sector lost 1.04%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from TEAM as it approaches its next earnings report date. On that day, TEAM is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 23.08%. Our most recent consensus estimate is calling for quarterly revenue of $330.53 million, up 35.59% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.82 per share and revenue of $1.21 billion, which would represent changes of +67.35% and +38%, respectively, from the prior year.
Any recent changes to analyst estimates for TEAM should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. TEAM is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, TEAM is currently trading at a Forward P/E ratio of 159.98. For comparison, its industry has an average Forward P/E of 63.5, which means TEAM is trading at a premium to the group.
Meanwhile, TEAM's PEG ratio is currently 8.75. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TEAM's industry had an average PEG ratio of 2.55 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAtlassian Corporation PLC (TEAM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Walgreens Boots Alliance (WBA) Stock Sinks As Market Gains: What You Should Know
Walgreens Boots Alliance (WBA) closed at $52.80 in the latest trading session, marking a -0.02% move from the prior day. This move lagged the S&P 500's daily gain of 0.97%. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the largest U.S. drugstore chain had gained 1.05% over the past month. This has lagged the Retail-Wholesale sector's gain of 1.48% and outpaced the S&P 500's gain of 0.64% in that time.
WBA will be looking to display strength as it nears its next earnings release, which is expected to be June 27, 2019. In that report, analysts expect WBA to post earnings of $1.43 per share. This would mark a year-over-year decline of 6.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.53 billion, up 0.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.99 per share and revenue of $136.74 billion, which would represent changes of -0.5% and +3.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for WBA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. WBA currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, WBA is holding a Forward P/E ratio of 8.81. This represents a no noticeable deviation compared to its industry's average Forward P/E of 8.81.
Also, we should mention that WBA has a PEG ratio of 1.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Retail - Pharmacies and Drug Stores stocks are, on average, holding a PEG ratio of 1.09 based on yesterday's closing prices.
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportWalgreens Boots Alliance, Inc. (WBA) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Blackstone Group (BX) Stock Sinks As Market Gains: What You Should Know
Blackstone Group (BX) closed at $43.39 in the latest trading session, marking a -1.92% move from the prior day. This change lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 1.39%.
Coming into today, shares of the investment manager had gained 8.94% in the past month. In that same time, the Finance sector gained 1.01%, while the S&P 500 gained 0.64%.
BX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.60, down 33.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.44 billion, down 26.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.36 per share and revenue of $5.89 billion, which would represent changes of +4.42% and -1.44%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.24% higher within the past month. BX is currently a Zacks Rank #3 (Hold).
Digging into valuation, BX currently has a Forward P/E ratio of 18.77. This represents a premium compared to its industry's average Forward P/E of 12.29.
Also, we should mention that BX has a PEG ratio of 0.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.71 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportThe Blackstone Group L.P. (BX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Lauren Bushnell’s Engagement Ring Is Valued at $60,000: Get All the Details
chris lane lauren bushnell When country star Chris Lane dropped to one knee and proposed to Bachelor alum Lauren Bushnell this week, he knew one very important thing for sure (aside from his love for Bushnell, of course): that he had picked out the right ring. The pair had gone ring shopping five months ago “just for fun,” and Lane made sure to pay special attention to which sparkler caught her eye. (In a recent Brilliant Earth survey , a reported 77 percent of respondents said they would prefer to go engagement ring shopping together.) “Watching her try on rings, I learned she loves emerald-cut diamonds,” he told People . “I even heard her say that was the exact kind of ring she wanted. Thankfully she made it pretty easy to pick out!” Bushnell, 29, knew that she wanted “something simple” with “a solitaire and dainty band,” and that’s exactly when Lane got for her. View this post on Instagram I can’t stop smiling 😭 I feel so incredibly blessed that every misstep, mistake and heartache has led me to you. I couldn’t be happier to call you mine, forever. The journey was well worth it. Thank you Christopher Eric Lane for softening my heart and making it whole. Never going to stop telling you how much I love you and I will hold onto you forever and ever! Lauren Lane has a nice ring to it 💍 PS he wrote me a song 😭 I linked in my bio for y’all. I can’t stop listening or looking down at my hand 😍 thanks @people for covering 💕 A post shared by Lauren Bushnell (@laurenbushnell) on Jun 18, 2019 at 10:08am PDT According to Kathryn Money, VP of Strategy & Merchandising for Brilliant Earth , Bushnell’s ring was a dazzling 3.5 carat emerald-cut diamond set on a delicate, diamond-accented band, reflective of Bushnell’s down-to-earth personality. “The elegant simplicity of the ring’s design allows the gorgeous center diamond to be the focal point,” she tells The Knot , adding, “Emerald cut engagement rings are becoming increasingly popular, and many celebrities including J.Lo and Jennifer Lawrence have recently opted for this particular diamond shape. Elongated diamonds—including emeralds, elongated cushions and ovals—create a flattering look as their shape lengthens the wearer’s finger.” Story continues Money estimates that the ring likely cost between $60,000 to $80,000 (depending on the quality of the diamond itself), and as compared to Bushnell’s previous engagement ring, from Bachelor star Ben Higgins, more suits her personality. (Higgins’ ring for Bushnell was a whopping 4.25 carat Art Deco-style ring with a radiant-cut center diamond surrounded by over 240 round and baguette cut diamonds.) “Chris is the most thoughtful person,” Bushnell told People . “He clearly put so much time and thought into not only the song, but also making sure everyone I love most was surrounding us in that moment. Holding each other, hearing the song for the first time and then seeing him get down on one knee is a moment I’ll never forget. Watching the video back was almost just as emotional as the proposal itself— I still get teary-eyed even thinking about it. Seeing all of those memories in one place and then reliving the best day of my life is pretty special!” The couple have been friends for several years, but only began to spend time romantically last fall, and made their relationship debut on the red carpet at November’s BMI Country Awards in Nashville, Tennessee. Related Articles Bachelorette Party Decorations You Can Get at Steep Discounts on Amazon Prime Day A ‘Friends’ Collection With Pottery Barn Is Coming to Newlywed Nests Everywhere The Absolute Best Bridal Beauty and Makeup Deals You’ll Find on Amazon Prime Day |
FOMC decision — What to know in markets Wednesday
The Federal Open Market Committee (FOMC) will deliver its interest-rate decision Wednesday, following a two-day meeting. After the committee’s announcement, Federal Reserve Chairman Jerome Powell will hold a press conference. Given the recent escalation of the U.S.-China trade war and slew of worrisome economic data, this month’s FOMC meeting will be even more closely watched than usual.
While consensus among economists is that there will be no rate cut following this month’s meeting, how Federal Reserve Chairman Jerome Powell illustrates the Fed’s views on the state of the economy and outlines the Fed’s future monetary path will be focal points among market watchers.
“We think the FOMC will guide markets towards the possibility of a cut, if conditions warrant. We expect the Fed to remove the ‘patience’ guidance in the statement and underscore that it stands ready to offer accommodation to sustain the recovery,” Bank of America wrote in a note Friday. “Chair Powell will have to thread the needle in sounding sanguine on the outlook, but also discuss that the Fed is ready to ease in order to make sure the recovery continues.”
Another focal point will be the Fed’s dot plot. “We do not think the Committee will see a need to include a rate cut in their dot plot for this year. The current setting of the funds rate is at or below the longer-run dot for all participants, implying that they see policy as either neutral or slightly accommodative. Even with a reduction in the longer-run dot, that would still leave policy as neutral for the majority of the Committee,” UBS wrote in a note Wednesday.
Morgan Stanley economists point out that while the Fed will be ready to act if necessary, it is unlikely that policymakers will “rock the boat” ahead of the highly-anticipated G20 summit at the end of this month.
[Read more:FOMC Preview: Threading the needle on rate changes for July]
Meanwhile, corporate earnings remain light. Tech giant Oracle (ORCL) will announce quarterly results after the market close. Analysts expect the company to report adjusted earnings of $1.07 per share on $10.94 billion of revenue.
—
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter:@heidi_chung.
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Boeing 737 Max jet: A timeline of the crisis and where the plane maker stands now
On Tuesday, Boeing signed its first deal for the 737 MAX jet since the deadly crashes that led to a temporary ban of the plane's use in the U.S. and global airspace at the Paris Air Show. Months after the crashes, the company's chief executive admitted Boeing made a mistake in how it handled the controversy which continues to unfold. FOX Business takes a look at the developments in the following timeline which examines how the company addressed the tragedy and how it is attempting to move forward with the 737 MAX jet, once considered its most promising new plane. August 30, 2011 Boeing publicly announces the 737 MAX that, according to then-Commercial Airplanes President and CEO Jim Albaugh, "will deliver improved fuel efficiency and lowest operating costs in a single-aisle market." "This, coupled with industry-leading reliability and maintainability, is what customers have told us they want . As a result, we are seeing overwhelming demand for this new and improved version of the 737. We are working with our customers to finalize these and other agreements in the weeks and months ahead." December 8, 2015 Boeing rolls out its first 737 MAX jet in Renton, Washington with a goal of a first flight the following year. According to the press release announcing the launch, "The new single-aisle airplane will deliver 20 percent lower fuel use than the first Next-Generation 737s and the lowest operating cost." January 29, 2016 737 MAX performs its first flight. May 16, 2017 Boeing marked the first delivery of the new 737 MAX. The airplane, a 737 MAX 8, was handed over to Malindo Air at the Seattle Delivery Center. The Malaysia-based airline will be the first to put the 737 MAX into commercial service. October 29, 2018 A Lion Air Boeing 737 MAX 8 crashes into the Java Sea shortly after taking off from an airport in Jakarta, Indonesia, killing all 189 people on board. November 6, 2018 Boeing details what pilots should do if a sensor failure erroneously triggers an automated flight-control system called MCAS that may cause the plane to pitch downward, a scenario suspected in the Lion Air crash. Story continues Boeing's bulletin provides the first description of MCAS, which pilots and airlines had previously been unaware of, according to reports. November 13, 2018 In a FOX Business exclusive , Boeing CEO Dennis Muilenburg said the company plans to continue to fully cooperate in the investigation into last months fatal Lion Air Crash in Indonesia. January 31, 2019 Despite the crash, Boeing reportedly has 5,011 orders for the new 737 MAX from 79 customers through the end of January. March 10, 2019 An Ethiopian Air flight crashes shortly after takeoff on its way from Addis Ababa to Nairobi, Kenya, killing all 157 people on board. The circumstances of this crash were similar to Lion Air. March 12, 2019 A number of countries around the world close their airspace to the Boeing 737 MAX planes, with Canada and the U.S. remaining key holdouts. Aviation regulators in China, Indonesia, Australia and Europe are among those banning the plane. The FAA releases a statement noting that it will not ground the 737 MAX. Amid the crisis, President Trump weighs in via a tweet, stating planes have become "too far complex" but stops short of mentioning Boeing by name. March 13, 2019 Following analysis of the new Ethiopian Air crash data, the FAA issues an emergency order, temporarily banning the aircraft from flying in the U.S. or entering its airspace, citing "new evidence" from the Ethiopian Airlines crash. FAA concluded that it saw similarities between the two crashes based on recently analyzed satellite data and evidence investigators found in the wreckage in Ethiopia. Boeing also releases a statement saying it remains confident in the aircraft's safety but recommends a temporary suspension of operations of the global fleet. March 17, 2019 Information retrieved from the "black boxes" of the Ethiopian Airlines crash shows "clear similarities" to the October Lion Air crash. A Seattle Times report revealed that deadline pressure prodded the FAA and Boeing to delegate more safety decisions to the plane maker's engineers working on behalf of the FAA. March 18, 2019 The Wall Street Journal reports that a federal grand jury in Washington, D.C., issued a broad subpoena dated March 11 to at least one person involved in the 737 MAXs development, seeking related documents, including correspondence, emails, and other messages. March 19, 2019 Transportation Secretary Elaine Chao called for her agencys internal watchdog to open an inquiry into the process the department followed to certify the Boeing 737 MAX, saying that safety is the top priority of the department. March 20, 2019 It is reported that the FBI has joined the DOT's criminal investigation into the certification of the Boeing's 737 MAX . Senator Ted Cruz (R-TX) also announces he will hold a Commerce subcommittee hearing to examine the government's oversight of the jet. March 27, 2019 Boeing unveils new fixes to the MCAS software system and says it plans to send the software updates and new plans for pilot training to the FAA for approval by the end of the week. March 29, 2019 The investigation into the Ethiopian Airlines crash reaches a preliminary conclusion that the MCAS "activated before the plane nose-dived into the ground," according to a Wall Street Journal report. April 1, 2019 FAA says Boeing is expected to submit its proposal for new fixes to the MCAS software system "over the coming weeks," emphasizing more time is needed "for additional work" to ensure that Boeing "has identified and appropriately addressed all pertinent issues." Upon receiving the fix, the FAA said it will "subject Boeing's completed submission to a rigorous safety review ... [and] will not approve the software for installation until the agency is satisfied with the submission." April 4, 2019 Boeing says it has identified an additional software issue the FAA will require to be repaired before the planes are cleared to fly again. It characterizes the newly detected issue as "relatively minor," but the Washington Post reports the problem is still classified as "critical for safety." April 5, 2019 Boeing announces plans to cut MAX production by 20 percent, to 42 aircraft per month. May 5, 2019 Boeing said it knew of a safety alert flaw in the cockpit of its 737 MAX jetliners months before the first of 2 fatal crashes involving the now-grounded aircraft, but it didn't immediately notify regulators. May 9, 2019 Bloomberg interviewed a handful of former Boeing employees who described a corporate culture that prioritizes cost-cutting and profitability over reporting plane defects to upper management. May 14, 2019 A preliminary conclusion from an internal FAA review has "tentatively determined that senior agency officials didn't participate in or monitor crucial safety assessments" of the MCAS system, per the Wall Street Journal. May 29, 2019 The head of Boeing acknowledged that the company "clearly fell short" in dealing with the accident-ridden 737 MAX and said that it had not adequately communicated with regulators. Chief Executive Dennis Muilenburg's remarks to CBS News -- his first interview since the global grounding of the plane following two crashes that claimed 346 lives. Muilenburg was pressed by CBS about failing to notify the FAA for more than a year that the company had deactivated a signal designed to advise the crew of a disagreement between the plane's "angle of attack" sensors, which measure its angle vis-a-vis oncoming air to warn of impending stalls. The sensors provide data to the Maneuvering Characteristics Augmentation System, a flight handling system connected to the deadly crashes of Lion Air and Ethiopian Airlines MAXs. June 2, 2019 U.S. air-safety regulators said nearly 150 parts inside the wings of more than 310 of Boeing 737 jets, including grounded MAX models, may be defective and need to be replaced. June 7, 2019 Reports suggest that Boeing planned to wait three years to fix a nonworking safety alert on its 737 Max aircraft and sped up the process only after the first of two deadly crashes involving the planes. The company acknowledged that it originally planned to fix a cockpit warning light in 2020 after two key U.S. lawmakers disclosed the company's timetable Friday. Reps. Peter A. DeFazio (D-Ore.) and Rick Larsen (D-Wash.) wrote to Boeing and the Federal Aviation Administration and asked why the company took more than a year to tell the safety agency and airlines that the alert did not work on Max jets. The feature, called an angle of attack alert, warns pilots when sensors measuring the up-or-down pitch of a plane's nose relative to oncoming air might be wrong. June 9, 2019 American Airlines announces it is extending cancellations for the 737 MAX through Setpember 3, 2019 June 11, 2019 Boeing said Tuesday that it delivered 30 commercial airliners in May, a 56% drop from a year ago, when 68 jets were delivered. Deliveries of 737s dropped from 47 last year to just eight last month, all of which were an older model of the jet. The Chicago-based company has 4,550 unfulfilled orders for the Max, but stopped deliveries after regulators around the world grounded the jets following crashes in Indonesia and Ethiopia that killed 346 people. June 12, 2019 FAA official says 737 MAX could be back in the air by December. Its not possible to give an exact date as work progresses on safety fixes to the aircraft, said Ali Bahrami, the Federal Aviation Administrations associate administrator for aviation safety, in an interview Wednesday at a conference in Cologne, Germany. June 13, 2019 Southwest Airlines joins AA in removing the Boeing 737 Max from its schedule through the start of September. June 16, 2019 Boeings chief executive said on Sunday that the company made a mistake in how it handled a cockpit warning light on the 737 Max. Dennis Muilenburg, the executive, made the comments while addressing reporters on the eve of the Paris Air Show. Mr. Muilenburg also said the companys inconsistent communication with regulators and customers about the warning light was unacceptable." June 17, 2019 Boeing Chief Financial Officer Greg Smith revealed the possibility of a name change for the 737 MAX while speaking to Bloomberg on the sidelines of the Paris Air Show. Boeing executives later pushed back on this report. June 18, 2019 It's reported that Boeing Co. ended a two-month drought of orders for its airliners in the wake of the grounding of its 737 MAX fleet, by securing a commitment from Korean Air Lines Co. Ltd. and Air Lease Corp. to buy 787 Dreamliners. Previously, Boeing had not announced any new sales since late March, shortly after its bestselling jet, the 737 Max, was grounded. Additionally, International Airlines Group announced plans to buy 200 737 MAX jets in a deal valued at $24 billion. *Sources compiled from FOX Business' reporting as well as major news outlets including The Associated Press, The Wall Street Journal, Reuters and others. Related Articles How Much is Michael Phelps Worth? Ryan Lochte's Brand Value Sinks Amid Rio Scandal Here's How You Get a Body Like An Olympian |
Can Sanford Limited (NZSE:SAN) Improve Its Returns?
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Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Sanford Limited (NZSE:SAN).
Sanford has a ROE of 6.4%, based on the last twelve months. That means that for every NZ$1 worth of shareholders' equity, it generated NZ$0.064 in profit.
View our latest analysis for Sanford
Theformula for return on equityis:
Return on Equity = Net Profit ÷ Shareholders' Equity
Or for Sanford:
6.4% = NZ$38m ÷ NZ$594m (Based on the trailing twelve months to March 2019.)
Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. It is all the money paid into the company from shareholders, plus any earnings retained. The easiest way to calculate shareholders' equity is to subtract the company's total liabilities from the total assets.
Return on Equity measures a company's profitability against the profit it has kept for the business (plus any capital injections). The 'return' is the profit over the last twelve months. A higher profit will lead to a higher ROE. So, all else being equal,a high ROE is better than a low one. That means it can be interesting to compare the ROE of different companies.
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As shown in the graphic below, Sanford has a lower ROE than the average (8.8%) in the Food industry classification.
That certainly isn't ideal. We'd prefer see an ROE above the industry average, but it might not matter if the company is undervalued. Nonetheless, it could be useful todouble-check if insiders have sold shares recently.
Virtually all companies need money to invest in the business, to grow profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used.
Sanford has a debt to equity ratio of 0.28, which is far from excessive. I'm not impressed with its ROE, but the debt levels are not too high, indicating the business has decent prospects. Conservative use of debt to boost returns is usually a good move for shareholders, though it does leave the company more exposed to interest rate rises.
Return on equity is useful for comparing the quality of different businesses. In my book the highest quality companies have high return on equity, despite low debt. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
But when a business is high quality, the market often bids it up to a price that reflects this. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to take a peek at thisdata-rich interactive graph of forecasts for the company.
Of courseSanford may not be the best stock to buy. So you may wish to see thisfreecollection of other companies that have high ROE and low debt.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
The Latest: Lawmaker wants Facebook to suspend currency plan
NEW YORK (AP) — The Latest on Facebook's new digital currency (all times local): 5:40 p.m. The head of the House Financial Services Committee wants Facebook to suspend plans for a new currency until Congress and regulators are able to study it more closely. In asking Facebook to put the Libra currency plans on hold, Rep. Maxine Waters, a California Democrat, says Facebook "is continuing its unchecked expansion and extending its reach into the lives of its users." Earlier, the senior Democrat on the Senate Banking Committee said Facebook's new digital currency will give the tech giant unfair competitive advantages in collecting data on financial transactions as well as control over fees. Sen. Sherrod Brown of Ohio says "Facebook is already too big and too powerful." Brown and Waters both called on financial regulators to examine the new currency project closely. In a statement, Facebook said "We look forward to responding to lawmakers' questions as this process moves forward." Rep. Darren Soto, a Florida Democrat who's on the House Energy and Commerce Committee, says Facebook's plan is potentially "a big step forward towards a more global and inclusive financial infrastructure." Facebook unveiled plans for the Libra cryptocurrency on Tuesday. It's a digital currency similar to Bitcoin for global use, one that could drive more e-commerce on its services and boost ads on its platforms. Facebook's Libra currency is expected to roll out in the next six to 12 months. ___ 2:30 p.m. One regulatory expert believes Facebook's new currency will "almost surely" fall under new U.S. regulation adopted in the wake of the 2008 financial crisis. Karen Shaw Petrou, managing partner of Federal Financial Analytics in Washington, says the Facebook-led partnership running the project shouldn't think it can adopt the social media model of light regulation. Otherwise, she says, "they are going to get a rude awakening, because people's money is at risk. This is really serious stuff." Story continues She says which agency will oversee the venture will depend on what the currency system does. Earlier Tuesday, French Finance Minister Bruno Le Maire warned on Europe-1 radio that Facebook must offer assurances that its currency won't hurt consumers or be used for financing illegal activities. ___ noon Facebook has surprised cryptocurrency experts in announcing a digital currency that shares fundamental privacy characteristics with Bitcoin, the leading cryptocurrency today. Human Rights Foundation expert Eric Wall says the Libra currency's base layer will allow for anonymity even though the bulk of the exchanges where it trades will adhere to anti-money laundering and other regulations. Wall says it seems to Libra is designed not just for Facebook properties — where data on who is buying what from whom can be scooped up — but also to leak into the unregulated world at large. The Swedish expert said Tuesday that Facebook appears bent on making Libra the global currency of choice and is very clever in seeking to place the regulatory burden on other businesses. He said, "It's a pretty sneak move." ___ 11:15 a.m. Facebook's introduction of a new digital currency is likely to draw regulatory scrutiny. But New York University law professor Eleanor Fox says initial details about the currency don't signal any traditional antitrust problems. Facebook is already under federal investigation over its privacy practices, and along with other technology giants also faces a new antitrust probe in Congress. Creating its own globe-spanning currency — one that could conceivably threaten banks, national currencies and the privacy of users — isn't likely to dampen regulators' interest in Facebook. Fox says critics will say this is too much power for Facebook and shouldn't be allowed. But she considers Facebook's foray "a grass-roots entry into a new field" and says it can increase innovation. Facebook said Tuesday it plans to launch the currency over the next six to 12 months. ___ 11 a.m. Shares in Western Union are falling after Facebook announced that it is teaming up with more than two dozen partners to create a new digital currency called Libra. Facebook has a built-in customer base of two billion users that could help it take a share of the booming digital payment market. It could also take business from more traditional payment companies like Western Union, whose shares fell about 2% in morning trading. Shares in another money transfer company, MoneyGram, doubled to $2.90 in morning trading after it said it would partner with the cryptocurrency service Ripple to improve its cross-border payment system. Facebook says Libra is expected to launch in the next six to 12 months. ____ 10:30 a.m. The head of Facebook's cryptocurrency operation said in a tweet that feedback from customers has been "loud and clear" about keeping social media and financial data separate. David Marcus said, "We understand we will have to earn your trust." Facebook is currently under federal investigation over its privacy practices. The company on Tuesday unveiled plans to create a new digital currency similar to Bitcoin for global use, one that could drive more e-commerce on its services and boost ads on its platforms. Facebook's "Libra" currency is expected to roll out in the next six to 12 months. ___ 10:00 a.m. Facebook's plan announced Tuesday to introduce a digital currency comes as the company seeks out new revenue sources, said Wedbush Securities analyst Dan Ives. Facebook plans to launch the currency, called Libra, in six to 12 months. "With 2 billion users, Facebook is now looking beyond advertising to find other ways to monetize its massive ecosystem," he said. But it comes at a tricky time as Facebook is facing increased scrutiny by regulators over data privacy and security concerns. "It's a bold and strategic movie that has clear risks as well as opportunities tied to it," Ives said. "For now, it really comes down to execution, and how comfortable consumers feel around Facebook and cryptocurrency." ___ 8:40 a.m. Facebook is unveiling plans to create a new digital currency similar to Bitcoin for global use, one that could drive more e-commerce on its services and boost ads on its platforms. The digital currency, called Libra, is scheduled to launch sometime in the next six to 12 months. Facebook is taking the lead on building Libra and its underlying technology; its more than two dozen partners — including PayPal, Uber, Spotify, Visa and Mastercard — will help fund, build and govern the system. Facebook hopes to raise as much as $1 billion from existing and future partners to support the effort. Creating its own globe-spanning currency — one that could conceivably threaten banks, national currencies and the privacy of users — isn't likely to dampen regulators' interest in the social media giant. Facebook is currently under federal investigation over its privacy practices, and along with other technology giants also faces a new antitrust probe in Congress. David Marcus, who is heading Facebook's cryptocurrency operation, tweeted on Tuesday that Libra is in part aimed at "the 1.7 billion people who are still unbanked 30 years after the invention of the web." |
Nissan considers seats for Renault chairman, CEO in new committees: Nikkei
(Reuters) - Nissan Motor Co Ltd plans to give seats in its four proposed committees to alliance partner Renault SA's chief executive and chairman, Japan's Nikkei newspaper reported on Wednesday, citing sources.
Reuters reported last week that Nissan was considering having Renault executives as members of nomination, audit and compensation committees, after the French automaker expressed discontent with Nissan's envisioned governance reform.
Nissan is proposing an additional board committee possibly named "strategy committee", the Nikkei said https://asia.nikkei.com/Business/Nissan-s-Ghosn-crisis/Nissan-offers-seats-to-Renault-s-top-2-in-new-governance-plan.
A spokesman for the Japanese automaker told Reuters it would not comment on the report, and that no announcements have been made.
The 20-year-old partnership has been strained since former leader Carlos Ghosn was arrested for suspected financial misconduct in November. He denies wrongdoing.
It was plunged further into crisis this month as Renault's demand for a greater say in Nissan's governance drew rare public censure by the Japanese automaker.
Nissan will hold a shareholder meeting on June 25 to vote on its overhauled governance structure.
(Reporting by Niyati Shetty in Bengaluru; Additional reporting by Kevin Buckland in Tokyo; Editing by Maju Samuel and Christopher Cushing) |
Trump says he'll talk trade with Xi next week in Japan
WASHINGTON (AP) — President Donald Trump said he'll hold trade talks with Chinese President Xi Jinping next week at a summit of nations in Japan. And U.S. and Chinese negotiators will resume talks before the leaders meet.
Financial markets greeted the news with relief Tuesday. The Dow Jones Industrial Average closed 1.4% higher, adding 353 points.
Investors have been on edge since the world's two biggest economies last month broke off talks aimed at settling a dispute over U.S. allegations that China steals technologies and forces foreign companies to hand over trade secrets. The U.S. says the predatory tactics are part of Beijing's aggressive drive to supplant American technological dominance.
Trump has already imposed 25% tariffs on $250 billion in Chinese imports. And he's preparing to target the $300 billion in Chinese imports that he hasn't already hit with tariffs, extending them to everything China ships to the United States. China has retaliated with tariffs on U.S. goods.
"Had a very good telephone conversation with President Xi of China," Trump tweeted. "We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting."
The White House said in a statement that the two leaders discussed leveling the playing field for U.S. farmers, workers and businesses through a "fair and reciprocal" economic relationship. The White House said that includes addressing barriers to trade with China and achieving meaningful reforms that can be verified and enforced.
Departing the White House for a campaign rally in Orlando, Florida, Trump said "our people are starting to deal as of tomorrow. The teams, they're starting to deal." The administration provided no details about talks between the negotiating teams.
One of Trump's top economic advisers, Larry Kudlow, would not speculate on what will happen at the Trump-Xi meeting on the sidelines of the G-20.
"Talk is better than no talk," said Kudlow, director of the National Economic Council.
He said the administration will push China to make fundamental changes to its economic policies.
"We want structural changes on all the items — theft of (intellectual property), forced transfer of technology, cyber hacking, of course trade barriers," he said. "We've got to have something that's enforceable."
Appearing before the Senate Finance Committee Tuesday, Trump's top trade negotiator sounded a cautious note.
"I can't predict what the United States is going to do or whether we're going to be able to resolve this issue with China," U.S. Trade Representative Robert Lighthizer said. "My hope is that we can."
The two countries each have an incentive to reach a deal.
China is contending with a decelerating economy, high debts and consumer worries about the impact of Trump's tariffs.
"The time may be ripe for China to make strong enforceable commitments on intellectual property and technology transfer," said Dean Pinkert, a partner at the law firm Hughes Hubbard & Reed and a former member of the U.S. International Trade Commission.
U.S. businesses are imploring Trump not to expand his tariffs to $300 billion in goods from China or at least spare those imports that are of key importance to their customers.
"I don't know if it'll get them to stop cheating, tariffs alone," Lighthizer told senators. But he added: "I don't think you have any other option. I know what won't work, and that is talking to them because we've done that for 20 years .... If there's a better idea than tariffs, I'd like to hear it."
___
Associated Press Writer Kevin Freking contributed to this story. |
IBM Announces New Multicloud Update to Blockchain
IBMhas announced upgrades to itsBlockchainPlatform, according to areportby Ledger Insights on June 18.
The new IBM Blockchain Platform will reportedly be able to run on multiple cloud networks, such as major tech corporationMicrosoft’sAzureorAmazonWeb Services (AWS).
This is apparently the main upgrade over its previous iteration, which was available solely through IBM’s cloud. The multicloud platform will be available via Kubernetes, a container program that will reportedlyallowusers to scale their blockchain networks as needed.
One of the main upshots of its new multicloud framework is that IBM Blockchain Platform 2.0 that IBM boasts on its website is its interoperability. According to the website, the multicloud platform lets the blockchain participants provide governance across multiple cloud networks, even those with differing privacy environments.
IBM Blockchain CTO Gari Singh commented on this cross-network advantage, saying:
“We want to bring on XYZ company, but XYZ has a contract with Azure or AWS or Oracle,” he said. “How do we allow those guys to connect up a peer [node] to join the network and how can you support that?” [...] We can now actually leverage all the great things that are in Hypeledger Fabric, and we can support you wherever you need to be. And we can also help to support networks that want to work with IBM, but they have other members that don’t.”
According to the report, IBM’s platform is a variation on the open source blockchain platformHyperledgerFabric, which is fundamentally the same but with the addition of ease-of-access tools provided by IBM. The tools reportedly streamline the process of launching a permissioned network, assisting with necessary tasks such as assigning governance and creating consensus mechanisms.
As previouslyreportedby Cointelegraph, IBM recently partnered withBrazilianpaymentsnon-profit Câmara Interbancária de Pagamentos to release a blockchain ID platform built on Hyperledger Fabric.
The platform, called “Device ID,” will reportedly act as an authenticator for digital signatures on mobile devices, presumably aimed at preventingfraudand other criminal activities. Ninebanksand the Brazilian Payment System are reportedly set to make use of the new blockchain verification platform.
• Visa Set to Join the Expanding Field of Blockchain-Based International Payment Providers
• Hyperledger Gains Microsoft and Ethereum Foundation Among Raft of New Members
• Twitter Founder Jack Dorsey Expounds on Planned Crypto Team
• IBM, Hyperledger Blockchain ID System for Banks Launches in Brazil |
Final 2 competitive games help NBA Finals in ratings
NEW YORK (AP) — The two top winter sports crowned their champions as summer neared, separated by exactly 10 million viewers. The sixth game of the NBA Finals, where the Toronto Raptors dethroned the depleted Golden State Warriors, was seen by 18.76 million viewers in the United States, according to the Nielsen company. The final two games buoyed ABC, which had been suffering in the ratings with the series between a Canadian opponent and a team competing in its fifth consecutive finals. The seventh game of the NHL Stanley Cup Finals, won by the St. Louis Blues over the Boston Bruins, was seen by 8.76 million viewers, Nielsen said. The NBA Finals, plus a few game shows, helped ABC to the week's ratings championship. ABC averaged 6.1 million viewers in prime time. NBC had 4.1 million, CBS had 3.8 million, ION Television had 1.4 million, Telemundo had 1.2 million, Univision had 1.1 million and the CW had 630,000. Fox's average was not immediately available. Fox News Channel was the week's most popular cable network, averaging 2.19 million viewers. MSNBC had 1.47 million, HGTV had 1.3 million, A&E had 1.13 million and USA had 1.04 million. ABC's "World News Tonight" topped the evening newscasts with an average of 7.6 million viewers, NBC's "Nightly News" had 6.8 million and the "CBS Evening News" had 5.2 million. For the week of June 10-16, the top 10 shows, their networks and viewerships: NBA Finals: Toronto at Golden State, Game 6, ABC, 18.76 million; NBA Finals: Golden State at Toronto, Game 5, ABC, 18.6 million; "America's Got Talent," ABC, 9.46 million; NHL Stanley Cup Final: St. Louis at Boston, Game 7, NBC, 8.76 million; "60 Minutes," CBS, 6.17 million; "NBA Countdown" (Monday), ABC, 5.64 million; "The Big Bang Theory," CBS, 5.36 million; "NBA Countdown" (Thursday), ABC, 5.18 million; "NCIS," CBS, 5.03 million; "Young Sheldon," CBS, 4.94 million. Story continues ___ ABC is owned by The Walt Disney Co. CBS is owned by CBS Corp. CW is a joint venture of Warner Bros. Entertainment and CBS Corp. Fox is owned by 21st Century Fox. NBC and Telemundo are owned by Comcast Corp. ION Television is owned by ION Media Networks. ___ Online: http://www.nielsen.com |
U.S. lawmakers are calling for Facebook to halt Libra development
After U.S. Rep. Patrick McHenry, senior Republican on the House Financial Services Committee, asked for a hearing on Project Libra in aletterto committee Chairwoman, U.S. Rep. Maxine Waters. Waters, a Democrat, has called for a halt in Facebook's development of its cryptocurrency.
Waters referenced previous controversy surrounding Facebook's data policies in herstatementand called its foray into the cryptocurrency a market a continuation of its "unchecked expansion" into peoples' lives.
"Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies," she said in a statement. "Given the company's troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action."
Before Waters' response to McHenry's letter, McHenry said he was open to having Facebook directly testify to Congress, according to a spokesperson for the lawmaker. Now, Waters is asserting executives should testify before the committee.
Reuters' Pete Schroedertweetedthat McHenry's letter wasn't explicitly critical, but pointed out that a hearing could indicate skepticism from lawmakers.
"We need to go beyond the rumors and speculations and provide a forum to assess this project and its potential unprecedented impact on the global financial system," McHenry wrote.
Indeed, this isn't the first time lawmakers have taken an interest in a Facebook crypto. Before Libra was announced, the U.S. Committee on Banking, Housing and Urban Affairs addressed an open letter to Facebook CEO Mark Zuckerberg with questions on regulatory and privacy concerns if Facebook was pursuing a digital payment system for its platform. |
Facebook’s whitepaper revealed the Libra Association’s entire operating structure
As The Block continues its comprehensive coverage of Facebook’s stablecoin progression, we explore the operating structure of Libra’s governing body, the Libra Association. In the documents released this morning, Facebook revealed the specific responsibilities and governance mechanisms of the many entities upholding the network.
As previously reported, Facebook’s cryptocurrency, Libra, will be governed by a consortium of firms known as the Libra Association. The Block revealed last week the list of firms included in the consortium’s “Founding Members” which consisted of many big-name companies covering a host of industries and geographical backgrounds.
Source: Facebook, The Block
Within the whitepaper and supporting documents, however, Facebook revealed details of the entire operating structure of Libra’s governing body beyond just the Libra Association.
Join Genesis nowand continue reading,Facebook’s whitepaper revealed the Libra Association’s entire operating structure! |
HP Enterprise to Move Toward Subscription Model, Chasing Amazon
(Bloomberg) -- Hewlett Packard Enterprise Co. will make all its products available through subscriptions, Chief Executive Officer Antonio Neri’s biggest move yet to shield the server maker from growing cloud-computing competition.
HPE’s computer servers, storage hardware, networking gear and software will be available through a pay-per-use or subscription model by 2022, the San Jose, California-based company said Tuesday in a statement.
Neri took over the company in February 2018, and has focused on keeping HPE relevant in a changing market for information technology. Cloud vendors such as Amazon.com Inc. and Microsoft Corp. have seen booming sales while global server demand has stagnated. First, Neri downplayed the threat from the public cloud companies, investing $4 billion in edge computing, which lets clients process information on hardware far away from data centers and he touted as the next wave of computing. Recently, HPE has taken a more pragmatic approach, forming a partnership with Google that will help clients adopt a hybrid model -- to move information between their own corporate data centers and large public clouds.
HPE made the subscription announcement at its annual Discover conference in Las Vegas. This is the company’s most significant effort to generate more recurring revenue, which can help boost overall sales. HPE’s revenue has shrunk in the last two quarters compared with a year earlier.
“We will reshape HPE and transform the market, with a new and better way to deliver as a service,” Neri said in a statement.
To contact the reporter on this story: Nico Grant in San Francisco at ngrant20@bloomberg.net
To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Alistair Barr
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
Nissan considers seats for top two Renault execs in new committees - Nikkei
(Reuters) - Nissan Motor Co has plans to give multiple seats in its four proposed committees to alliance partner Renault SA's chief executive and chairman, Japan's Nikkei newspaper reported on Wednesday, citing sources.
Reuters had reported last week that Nissan was considering having Renault executives as members of nomination, audit and compensation committees, after the French firm expressed discontent with Nissan's envisioned governance reform.
Nissan is proposing an additional board committee possibly named "strategy committee", the Nikkei said https://asia.nikkei.com/Business/Nissan-s-Ghosn-crisis/Nissan-offers-seats-to-Renault-s-top-2-in-new-governance-plan.
The 20-year-old partnership was plunged into a crisis earlier this month, as the French automaker's demand for a greater say in Nissan's new governance system drew rare public censure by the Japanese firm.
On June 25, Nissan will be holding a shareholder meeting, which would see the company adopt an overhauled governance structure.
Nissan was not immediately available for comment outside office hours.
(Reporting by Niyati Shetty in Bengaluru; Editing by Maju Samuel) |
Blink-182’s Travis Barker talks ‘second chance at life,' health scares: 'As long as I'm not dead, I'm going to tour'
This summer, Blink-182 will embark on a joint tour with Lil Wayne that’ll also include them playing their breakthrough album, Enema of the State , in its entirety to celebrate its 20th (yes, TWENTIETH) anniversary. It’s a tour that some fans might have feared would never happen, after Blink canceled or postponed a slew of 2018 dates, including their Las Vegas residency, due to two major health scares for beleaguered drummer Travis Barker. But Barker and his bandmates, bassist/singer Mark Hoppus and relatively new guitarist/singer Matt Skiba, never had any doubts. “As long as I'm not dead, I think they know I'm going to tour,” Barker quips. “I mean, I'm able to tour. I still am on blood-thinners, because I have scarred veins that are creating blood clots. But I'm touring and I'm playing drums every day, so I'm fine,” Barker assures Yahoo Entertainment. “And then I got hit by a bus… but I'm running and kind of working out again and my back's in good shape. I bounce back pretty quickly, knock on wood, but yeah, I'm good. I'm excited for this summer’s tour and everything's all good.” Barker, 43, says that when he underwent an MRI last June, he developed a staph infection, cellulitis, nerve damage, and multiple blood clots in both arms , due to technicians sticking him “40 or 50 times with a needle, trying to find a vein.” But that wasn’t the end of Barker’s troubles. A month later, a school bus that he says was “going about 30, 40 miles per hour” collided with his Mercedes as he drove through Calabasas, Calif., with his son Landon in the car. Travis Barker at the 2019 iHeartRadio Music Awards. (Photo: Emma McIntyre/Getty Images for iHeartMedia) “I think the biggest concern was a blood clot going to my heart, my lungs, or my brain,” Barker reveals. “And I didn't know [I had clots]. I was playing drums, hitting things, doing a lot of explosive exercising. So I had no idea until I got home, went to an emergency room, and they told me I couldn't drive anywhere and I got admitted to a hospital. So, that was how I found out. I had no idea. I just had a weird show in Vegas and I wasn't sure what was going on. And then come to find out, I had staph and about 40 to 50 blood clots in my right arm and 10 to 20 in my left arm.” Story continues Some drummers might want to take it easy after all of this, but Barker, who notes that he’s “always gotten hurt, always been injured” and has been known to play with a broken foot or one hand, has actually been through much worse: In 2008, he was critically injured in a plane crash alongside his friend, DJ AM, and he became suicidal as a result. But today, he hasn’t lost his fighting spirit. “I just don't take no for an answer," Barker says matter-of-factly. “And unfortunately with my conditions, with my blood clots, knock on wood, if something did happen, if a blood clot did move, it's not like I'd have a chance to do anything about it, really. “I guess from my history, the stuff I've overcome, my plane crash and stuff like that has just given me strength to overcome stuff and just really take advantage and cherish my second chance at life,” Barker continues. “When little things like this happen, I can't let them be so big or just take over my life to where I give up. I don't know, it's never been an option.” A positive outcome of all of these injuries and tragedies is the outreach Barker gets from fans who find his survival story inspirational. “I get a lot of people that hit me up that read my book [the memoir Can I Say: Living Large, Cheating Death, and Drums, Drums, Drums ] that say, ‘I was struggling with addiction’ or ‘I was struggling with losing my mom’ or ‘I was in a horrific accident, I was also burned.’ I get a lot of burn survivors, because I had like 65 percent of my body burned in the plane crash,” Barker explains. “So I feel a lot of them reach out… I go to the Grossman Burn Center in Los Angeles, where I was in the hospital for several months, and I'll visit patients there. I'm really close with Dr. Grossman over there still. So I feel like giving back and having that communication with people that are in the burn center keeps me on track, because I was there at one point.” Travis Barker signs copies of 'Can I Say: Living Large, Cheating Death, and Drums, Drums, Drums.' (Photo: Getty Images) And now, as Barker and his longtime bandmate Hoppus revisit Enema of the State , it’s a triumphant, full-circle moment. (There seriously needs to be a biopic about Blink-182; Barker suggests that his “mini-me” son could play him, while Hoppus jokes that Skiba should be played by Crispin Glover, Tom Cruise could portray ex-member Tom DeLonge, and “you know, obviously Brad Pitt for me.”) “We've gone through band breakups and crashes and health scares and marriages and kids and divorces and everything,” Hoppus says more seriously. “So Travis is probably the closest thing that I have to a brother in the whole world. It's family at this point. It's beyond just ‘Oh, we play in a band together.’ We've kind of been there through everything together: We were in a hospital at a burn center, and we've been onstage at Madison Square Garden together. I don't think that there's much more that you can go through as a band than what we've overcome and what we've done.” When asked if there is any irony or bittersweetness involved with singing a song titled “What's My Age Again” as grown-up men who have been through so much, Hoppus seems to reflect on his own mortality — albeit with a grin. “It still feels the same as when I wrote it. I still feel like an idiot. Luckily, we get to do what we love for a living, and we don't really have to grow up except when it comes to being responsible parents. We kind of get license to be kids for the rest of our lives,” Hoppus says. “Although I know that when I die, it'll either be ‘What's My Age Again’ or ‘Well, I Guess This Is Growing Up’ that's going to be the title of my obituary.” Read more from Yahoo Entertainment: · Steven Van Zandt on why millennials are a 'more evolved species' and why he's putting politics aside · Guns N' Roses' Duff McKagan defends misunderstood '80s lyrics: "None of our friends said, 'Grab her by the…'" · Twisted Sister frontman Dee Snider's one rule for presidential candidates using his song: 'If you're pro-choice, go for it' Follow Lyndsey on Facebook , Twitter , Instagram , Amazon , Tumblr , Spotify . Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle’s newsletter. |
Joe Biden has record Wall Street fundraising event in New York City amid protests
A fundraiser for former Vice President Joe Biden Monday night at the Manhattan townhouse of hedge fund billionaire Jim Chanos was met with angry protests, as demonstrators brandished signs and shouted class-warfare barbs at attendees, many of them Wall Street executives and real estate barons. But inside Chanos swanky digs, it was all peace, love and lots of money . The fundraiser, attended by a bipartisan crowd of 180 people, was a wild success, having raised in excess of $500,000, FOX Business has learned. The draw, while still being counted Tuesday afternoon, is said to be a record for a single candidate at a Manhattan residence fundraiser, according to people with direct knowledge of the matter. Presidential candidates from both parties have been feted by the uber-rich at their Manhattan homes over the years as a way to tap into one of the biggest pools of campaign cash available: That coming from Wall Street, New Yorks real estate industry and local celebrities. In 2012, former President Barack Obama made headlines for attending a similar event at the Manhattan townhouse of actress Sarah Jessica Parker, a $40,000-a-person soiree famously dubbed Checks and the City . But the Biden bash was a bit different. First, it included a bipartisan crowd (former Sen. Al DAmato, R-N.Y., and other New York City Republicans attended), showing Bidens cross-party appeal even as the Democratic front-runner faces opposition from his own partys leftist voter base. It is also said to have raised a lot more money than other such fundraisers, as its fat-cat list of attendees easily forked over $2,800 a head for a chance to meet the former vice president who served nearly four decades in the U.S. Senate. Although its early in the race, Biden is currently the partys front-runner and is outpolling the nearly two-dozen candidates running to oppose President Trump in the 2020 presidential election . A spokesman for Biden had no comment; a spokeswoman for Chanos declined to comment. Story continues The 76-year-old Biden grew up in Scranton, Pennsylvania and is best known for his blue-collar appeal; his nickname Amtrak Joe, underscores this persona as he famously took the train from his home in Delaware to work in Washington, D.C. During that time, he also crafted a reputation as a centrist who worked with Republicans on legislation a bipartisan approach that is eschewed by many of the other progressive contenders for the 2020 Democratic nomination. Bidens centrism and its opposition from the far left of the party was on full display Monday night as attendees, many of them brokerage and real estate millionaires and billionaires, entered Chanos swanky townhouse. Protesters greeted them with chants of Down with Big Oil! Down with Corporate America, while holding signs advocating various left-wing causes on everything from the environment to income redistribution. Biden hasnt traditionally been associated with Big Oil but he has supported banks and financial firms, many of them domiciled in his home state of Delaware, another big plus for the donors at the event. And he didnt appear flustered by the protests; attendees say he fired up his crowd by making a few pointed jabs at Trump, then reminded his donors that while the country needs to strengthen our middle class, it will not be at the expense of economic growth. He said the rich will do just fine during a Joe Biden presidency, a remark taken to mean that while he may raise taxes on the rich, he has no grand plan to redistribute wealth in the ways proposed by other leading Democratic candidates such as independent Sen. Bernie Sanders of Vermont, a self-described democratic socialist, and Sen. Elizabeth Warren of Massachusetts. Despite the class-warfare mood of the party, Sanders and Warren are said to be the only Democratic candidates not soliciting Wall Street money. Biden also spoke of the need to repair U.S. relationships with our allies, a reference to Trumps more aggressive positions on trade, which has focused not just on Chinese misbehavior but on upending trade deals with long-standing partners like Canada and Mexico. He then called for major new government funding for research to cure cancer, diabetes and Alzheimers. "He had the crowd really fired up, said one attendee. And he spent very little time on Trump, instead offered a more positive message. CLICK HERE TO GET THE FOX BUSINESS APP Other attendees to the event included John Catsimatidis, a Republican who ran for New York City mayor, Charles Myers, a prolific Democratic fundraiser and chairman of the investment firm Signum Global Advisers, and Omeed Malik of merchant bank Farvahar Partners, who recently had held a fundraiser for Tulsi Gabbard, the Hawaii congresswoman also seeking the Democratic nomination. Noticeably absent from the event was New York Gov. Andrew Cuomo, who was supposed to introduce Biden to the crowd but was said to have had a scheduling conflict. With Cuomo a no-show, that task was left to Chanos, one of Wall Streets most successful short sellers, or a type of trader who profits by betting stocks will decline in value. Chanos has uncovered a slew of corporate frauds during his career including the 2001 Enron debacle that led to one of the nations largest bankruptcies. A long-time Democrat and liberal, Chanos is personal friends with Biden but has told people he has political views that are further to the left than the former vice president, particularly on environmental issues and in regulating big companies. In fact, as he was introducing Biden and the protests of Down with Corporate America could be heard faintly from outside, Chanos quipped, I guess theyre not familiar with my work. Biden is said to have laughed before moving on to his remarks. Related Articles Fmr. Notre Dame Coach Lou Holtz Predictions for Trump vs. Media Trump May Have Dropped Another Clinton Bombshell Carson: Trump Could Destroy Obama's Legacy |
Experts say blackout in Argentina should have been limited
BUENOS AIRES, Argentina (AP) — As authorities in Argentina try to figure out why electricity surged on a transmission line and touched off a massive blackout covering three nations, experts say power companies should have spotted the problem and taken action to limit the outage. While government officials say it could have happened anywhere, U.S. industry experts say safeguards put in place after the giant Northeast blackout in 2003 would likely stop a recurrence. Here are answers to some questions about what happened and how it could be prevented: ___ WHAT COULD HAVE CAUSED THIS? Argentina's energy secretary said that somewhere along the transmission line between two hydroelectric powerplants, the line was damaged or couldn't handle the electric load. The plants kept generating power, and there was too much of it on that part of the grid. That caused an overload, which tripped circuits that protect the generators, shutting them down. That left the system short of electricity to meet demand, and even though it was a Sunday when electric use was low, other generators didn't have enough capacity to pick up the slack, tripping protection circuits on the rest of the power plants and bringing down the entire grid. That blacked out Argentina, Uruguay and parts of Paraguay. Experts say a tree limb bringing down a power line or a lightning strike damaging equipment could have been causes. "Everything has to be in balance," said Susan Tierney, an expert on energy policy at the U.S.-based Analysis Group consulting firm. "One big thing happens and everything goes haywire." ____ COULD SOMETHING HAVE BEEN DONE TO LIMIT THE OUTAGE? Yes. Power grids can be programmed to sense surges and reroute power to other lines to stop from tripping circuits that protect generators. If the circuits are tripped and generators are shut down, utilities would black out smaller areas to deal with a shortage and stop the problem from spreading. When a fault occurs on a line "you try to isolate the fault and not let it spread to three times the size of Texas," said Alan Mantooth, director of the National Center for Reliable Electric Power Transmission and a University of Arkansas electrical engineering professor. Most systems have sensors to detect power surges or shortages and software that can take generators offline or reroute electricity. But Argentina's system apparently didn't react fast enough. "If the automatic system had worked correctly, we would not be talking about this," said former Argentine Energy Secretary Daniel Montamat. Story continues ___ COULD THIS HAVE BEEN A CYBER ATTACK? Argentine government energy officials have not ruled it out, but it's unlikely. Power plants or sensors designed to shut off parts of the system when there are surges or power shortages could be hacked, but such an attack would have to cause a lot of simultaneous problems. Hackers would have to know how the system operates, which would be difficult, said Raúl Bertero, president of the Center for the Study of Energy Regulatory Activity in Argentina. ___ WHY DO OUTAGES HAPPEN? Outages can be caused by weather as it happened with a devastating hurricane in Puerto Rico, cyberattacks like ones that hit Ukraine or equipment outages like in the Eastern U.S., Tierney said. They can also be sparked by attacks on critical equipment. ___ WHERE ELSE IN THE WORLD HAVE THERE BEEN MASSIVE OUTAGES? Brazil was spared this time, but a similar outage in the region's largest country left more than 60 million in the dark in 2009. Three months ago, crisis-torn Venezuela suffered its worst power outage. _____ IS THE ARGENTINA OUTAGE SIMILAR TO THE 2003 BLACKOUT THAT AFFECTED 50 MILLION PEOPLE IN THE U.S. AND PARTS OF CANADA? Yes. A similar cascade of failures happened after a tree limb brought down a transmission line near Cleveland, Ohio. ___ COULD ANOTHER BIG BLACKOUT LIKE THIS HAPPEN IN THE U.S.? Never say never, experts say, but after the 2003 blackout Congress passed a law setting reliability standards. Now, sensors are in place and powerplant and transmission companies constantly watch demand and supply to keep them in balance, said Tierney. Michigan-based ITC Holdings Corp., the largest U.S. independent transmission company, constantly monitors its system and the weather, trying to anticipate what might happen, said Jon Jipping, chief operating officer. For instance, the company generates wind power in Iowa, and if high winds are forecast, generators are taken off line to prevent a surge, or maintenance on lines would be stopped so they can handle added electricity, he said. "There's never a time when we're in a situation where we don't know what's going to happen absent something that's so catastrophic that we can't even predict," Jipping said. Tierney said power systems in Europe take similar precautions. ___ WHAT DOES ARGENTINA NEED TO DO TO STOP THIS FROM HAPPENING AGAIN? Better coordination between electric utilities to spot problems and isolate them. Train plant operators and update software and sensors. Take immediate action. And just having a catastrophe should help. "There may never have been something so instructive that happened to these grid operators," said Tierney. Argentine energy officials defend the power system as "robust." It had been known for being in a state of disrepair for years. But since President Mauricio Macri came into power in 2015, he has cut energy subsidies and price freezes by the previous administration that he said left the energy industry unprofitable and weakened the grid. He also has reinvested in the grid, and outages have become less common. But he has faced large protests against a spike in utility costs. ___ Associated Press writer Tom Krisher reported this story from Detroit and AP writer Luis Andres Henao reported in Buenos Aires, Argentina. AP writer Almudena Calatrava in Buenos Aires contributed to this report. |
Why Blue Apron Stock Tumbled Today
Two days afterBlue Apron(NYSE: APRN)did a 1-for-15 reverse split to stay in the good graces of the New York Stock Exchange, shares of the meal-kit provider were tumbling as investors seemed to see through the ruse. Though there was no specific news out on the stock, it finished today's session down 13% in the aftermath of the reverse split, pushing the stock below $7.50, or $0.50 in pre-split terms.
Blue Apron stock has been volatile since the company announced the reverse split after hours last Thursday following its annual shareholders meeting. On Friday, the stocklost 16%as investors reacted to news of the split, though it didn't go into effect until after hours that day. On Monday, the stock momentarily popped as much as 15% in morning as investors seemed to respond favorably to the cosmetic effects of the reverse split. However, by the end of the day, the stock was down 1%.
Image source: Blue Apron.
That slide continued today, showing that even though the company has defrayed the threat of getting delisted, investors are becoming even more skeptical that the company can turn around its business as revenue has declined for several quarters in a row.
What's also notable about Blue Apron's recent slide, which brought the stock to an all-time low more than 95% below its IPO price, is that it comes as other food businesses have caught the market's eyes. Shares ofBeyond Meathave surgedsince its IPO last month, a sign that demand for plant-based meat may be replacing organic produce in meal kits like Blue Apron. Meanwhile, the delivery-app wars have heated up as companies likeGrubhubandUberEats are aggressively pursuing new customers, and by doing so are directly competing with Blue Apron and other meal-kit purveyors.
As the market shifts its focus, it seems that investors are giving up on Blue Apron and the meal-kit industry as a whole.
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'The risk is that prices are going up' as trade war poses big test for consumers
The U.S. trade war with China may behitting the wallets of consumers, as the price of everyday items could rise.
Americans are taking notice. Arecent YouGov pollfound that 86% of Americans said they would know if prices rose on grocery store items they frequently purchase. Meanwhile, 24% of those surveyed said they’d put off at least one purchase over the fear of tariffs hiking prices.
The timeline of U.S. tariffs imposed on China is still unclear. Last month, the United States raised the rate to 25% on $200 billion worth of Chinese goods, and is threatening more hikes on an additional $300 billion.
And witha new studyby the National Bureau of Economic Research estimating that 10% tariffs have already cost the average American household $414 last year, consumers may start feeling real pain very soon.
“If the tariffs on $200 billion of goods remain at 25%, I think we [will] come to understand the impact that that has on consumer spending power,” Keel Point chief economic advisor’s Steven Skancke toldThe Tickeron Tuesday.
President Donald Trump is still confident in his relationship with China’s President Xi Jinping, and his tweet saying the two would meet this month sentinvestor optimism — as well as major stocks—surging in Tuesday’s session.
“The good news is that President Trump and President Xi spoke earlier today,” Skancke said. “That’s relieved a lot of tension and a lot of pressure from the thought that they might add 25% tariffs to another $300 billion of goods.”
Another wild card the oil, which has been on a roller-coaster ride since the beginning of the year. While expectations of falling demand have kept crude prices contained,turmoil in Venezuela and the Middle Easthave stoked concerns about a supply squeeze — and pushed up energy prices.
“For most people, the risk is that prices are going up,” says Bankrate.com chief financial analyst Greg McBride.
“Even the relief you’re getting at the gas pump is relatively small potatoes,” he said. “You look at the drop in gas prices since the beginning of May: a typical 2-car household is going to save maybe $20 on that in the last 2 months.”
Crude oilprices have tumbled more than 20% since their peak in late April on trade war concerns, and a slowing world economy.
For consumers, oil is a clear measure of how financial fluctuations hit their wallets. But Skancke said consumers can’t rule out the possibility of market whiplash.
“We saw the markets were up 18% coming into this year at the end of April,” Skancke notes. “It would be very easy to revisit those highs and even push higher.
Trade war jitters have been “a huge overhang on market concern about where it goes and what happens next.”
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The Latest: San Francisco closer to ban on e-cigarette sales
SAN FRANCISCO (AP) — The Latest on San Francisco's effort to ban sales of electronic cigarettes in the city (all times local): 3:10 p.m. San Francisco supervisors have voted unanimously to move the city toward becoming the first in the United States to ban all sales of electronic cigarettes. Supervisors on Tuesday approved a measure to stop the sale and distribution of e-cigarettes until the Food and Drug Administration completes a review of the effects of e-cigarettes on public health. They also supported a ban on manufacturing e-cigarettes on city property as they move to crack down on teen vaping. Supervisor Shamann Walton says there was a battle against tobacco in the 1990s, and "now we see its new form in e-cigarettes." Walton introduced the measures, and they will require another vote before becoming law. ___ 12 a.m. San Francisco supervisors are considering whether to move the city toward becoming the first in the United States to ban all sales of electronic cigarettes to crack down on youth vaping. Supervisors on Tuesday were set to weigh a ban on the sale and distribution of e-cigarettes until the Food and Drug Administration completes a review of the effects of e-cigarettes on public health, as well as ban the manufacturing of e-cigarettes on city property. If supervisors approve the measures, they will require a subsequent vote before becoming law. Since 2014, e-cigarettes have been the most commonly used tobacco product among young people in the country. Last year, 1 in 5 U.S. high school students reported vaping in the previous month, according to a government survey. |
Here Are All the F-35's New Upgrades
Photo credit: JACK GUEZ - Getty Images From Popular Mechanics The F-35 Joint Strike Fighter is set to receive a series of upgrades designed to keep the jet ahead of the emerging fifth-generation pack. Known as Block 4, the upgrades include the ability to control drones and robotic wingmen, more fuel tanks to extend range, an anti-ground collision system, and classified upgrades we couldnt even guess. The F-35 was conceived in the late 1990s and has spent more than two decades in development. Although only recently operational in the U.S. military, it was designed at a time when some technologies, including robotics, had yet to become the big deal they are today. The armed services and the allies that have committed to ordering the F-35 are eager to integrate that new tech into their existing and future aircraft. Photo credit: Anadolu Agency - Getty Images Block 4 will incorporate 53 new technologies, features largely aimed at countering peer and near-peer competitors like Russia and China. As Air Force magazine writes, None of these upgrades will change the aircrafts outer appearance, or mold line. Instead, they are primarily new or enhanced features executed in software, which will be rolled out in stages, with updates every April and October starting in 2019 and continuing through at least 2024. Block 4 will be 80 percent new software and 20 percent new hardware. In advance of Block 4, most existing F-35s are getting new hardware, including new cockpit displays, more system memory, and faster processors, in a package called Technology Refresh 3. Lockheed Martin F-35 VP Greg Ulmer shows some details on Block 4 roadmap at #PAS19 . Includes unmanned teaming and missile defense capability. We reported addition of 600-gal. external fuel tanks last week. pic.twitter.com/Sece4IzcZh - Steve Trimble (@TheDEWLine) June 17, 2019 Block 4 breaks down into the following improvements: Story continues * New weapons. Block 4 will support the Stormbreaker smart glide bomb (formerly known as Small Diameter Bomb II) and allied weapons such as the UKs ASRAAM and Meteor missiles, Turkey and Lockheed Martins Standoff Missile (SOM-J) , and the Kongsberg/Raytheon Joint Strike Missile , a new missile capable of land attack and anti-ship missions. * Electronic warfare and communications updates. The F-35 will receive 11 radar and electro-optical updates and 13 electronic warfare updates, allowing the jet to detect enemies sooner and jam them. * Ground control collision avoidance system (GCAS). Pilot disorientation is a serious issue in modern combat aircraft. Earlier this year, a F-35 was lost after Major Akinori Hosomi, an experienced pilot with the Japan Air Self Defense Force, lost situational awareness and flew his aircraft into the Pacific Ocean. GCAS will use the aircrafts onboard sensors to detect when the aircraft is on a dangerous path to crashing. The system will warn the pilot and, if the warnings arent heeded, will actually take control of the aircraft and place it on a safe flight path. GCAS would have saved the pilot and aircraft in the April 2019 incident. * Extended fuel tanks. The F-35s range has come into criticism in recent years, as the U.S. fighter fleet faces the prospect of long-range combat against other major powers. Block 4 would add an additional 600 gallons of fuel carried in external fuel tanks. That isn't ideal, as even minor changes to the external appearance of the F-35 will compromise the airplanes carefully crafted anti-radar profile, but short of magically finding room inside the plane for more fuel, it's pretty much the only solution to the range problem. * Unmanned teaming. The U.S. Air Force, and undoubtedly other air forces, are looking into the idea of pairing F-35s with unmanned aircraft to handle complex threat environments. Drones like the XQ-58 Valkyrie, which the USAF wants to buy to experiment with, could probe enemy defenses, carry jammers, and carry out diversions to allow the manned to get close enough to the target to safely attack it. Such use of drones could dramatically increase the effectiveness of a F-35 fighter without teaming it with other, equally expensive F-35s. * Other upgrades. According to a slide shared by Aviation Week & Space Technology's Stephen Trimble from the Paris Air Show, other system upgrades include an increased ability to help shoot down ballistic missiles, probably including using the Distributed Aperture System of infrared cameras to detect the heat plume of a missile taking off. The F-35 will also get open architecture improvements, likely to help speed the integration of future upgrades, the ability to work alongside naval and ground units, and other classified improvements. Finally, Block 4 will apparently include classified improvements from Lockheed Martins famous Skunk Works, responsible for such aircraft as the SR-71 Blackbird and U-2. Exactly what those improvements are remains to be seen, but they could include literally anything from jam-proof communications to laying the groundwork for adding a laser weapon to the F-35. 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Chipmakers QCOM and AVGO Bounce-Back After Rough Week
Recently, there has been significant turmoil surrounding the electronics component sector, specifically in wireless equipment and semiconductors. This was mostly due to the US blacklist of Huawei in May, coupled with increased US-China trade war tensions. Huawei is the worlds largest telecommunications company, and therefore is a large purchaser of electronics components from companies in these industries. This means that Huawei will no longer be able to purchase components from US companies, and faces export uncertainties with the trade war raging. In fact, these headwinds just led the company to announce that it will likely make $30 billion less revenue this year and next than previously projected. Over the past month, the wireless equipment industry took a 3.86% hit and the semiconductor industry fell 5.08%. The decline is due in part to Huaweis downbeat outlook, combined with certain US companies like Google GOOG suspending some business with Huawei. Positive Outlook However, things are starting to look up for these industries to start the week. Microsoft MSFT on Monday announced that it would resume sales of Huawei laptops from the Microsoft store. It is beginning to seem that companies like Microsoft are willing to look past the political uncertainty to continue to provide support for revenue generators like Huawei. On top of the Microsoft news, President Trump announced Tuesday that he will have an extended meeting with President Xi Jinping of China at the G-20 summit in Japan next week. This raised hopes that the trade war will be resolved soon, instead of dragging out for months. As a result, many chipmakers bounced back Tuesday on hopes that the tit-for-tat tariff fight might end and that Huaweis blacklist status could be lifted. Wireless equipment companies climbed, with large player Qualcomm QCOM up 4.12%. Meanwhile, Broadcom Inc. AVGO climbed 4.54% today and Intel INTC 2.66%, as both chip firms are major Huawei suppliers. Story continues Two other affected stocks to watch are Nvidia NVDA and Amkor AMKR. Amkor is a Zacks Rank #1 (Strong Buy) and sells products diversified into 5 end markets, making it a strong pick. Nvidia has taken a tumble recently but seems to have turned around, it has great exposure to high growth markets like gaming, AI, and autonomous vehicles making it a potential for quick growth depending on the market in the near future. Our Zacks consensus estimates show a projected 6.93% price drop for this year, but a strong 20.97% bounce back in 2020 that could be even higher if any of these high growth markets take off. If trade disputes are resolved in the coming days, these wireless and semiconductor firms stand to benefit, along with much of the rest of electronics component market. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. Theyre also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98% , +119% and +164% in as little as 1 month. The stocks in this report could perform even better. See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alphabet Inc. (GOOG) : Free Stock Analysis Report QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Amkor Technology, Inc. (AMKR) : Free Stock Analysis Report Intel Corporation (INTC) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
Toronto police seek 4th person in Raptors rally shooting
TORONTO (AP) — Police are looking for a fourth person and haven't recovered the gun involved in a shooting at a rally for the NBA champion Raptors that wounded four people and sent thousands fleeing, authorities said Tuesday. Toronto Police Chief Marc Saunders said they are looking for a male who was wearing a white button down T-shirt at Monday's shooting at city hall square, less than a block from where the players and Prime Minister Justin Trudeau sat on stage. Police arrested three people who are now facing firearm charges, but the shell casings at the scene didn't match two guns seized. Shaquille Anthony Miller, 25, Abdikarim Kerow, 18, and Thaino Toussaint, 20 have been charged and made brief bail hearing appearances on Monday. Droves of Raptors fans stampeded from the site. Those wounded by the gunshots didn't suffer life-threatening injuries. Investigators did not discuss a possible motive. Hordes of fans jammed downtown Toronto for Monday's parade, raising concerns about safety, lack of proper barriers and overcrowding as the city celebrated its first major sports title in more than a quarter-century. The parade ran three hours behind schedule as the team's double-decker buses had trouble getting through the throngs. Mayor John Tory said the team owner and the city only had "three days" to prepare for the parade. Tory said the city's manager will work with police and the city's sports teams to review the parade to see how they can improve on it. |
Trumps Polish Defense Deal
I sraeli prime minister Benjamin Netanyahu may have dedicated a settlement Trump Heights in honor of the U.S. president, but pipe dreams of a Fort Trump in Poland have effectively been quashed by Trump himself, no less. The idea was first floated last year by controversial Polish president Andrzej Duda. During a visit from Duda last week, Trump announced a new agreement for U.S. military involvement in Poland. The plans central point is the addition of a thousand U.S. troops to the roughly 4,500 already rotating through Poland. While the compromise was touted as a success by both the Polish and the U.S. administrations, the U.S.Poland deal falls short of Dudas dream of a Fort Trump, due to both practical and doctrinal obstacles. But ultimately, the compromise strikes the right balance. What would the case for such a base have been? Poland would likely be a major avenue for any Russian incursion into Europe. The small Russian exclave of Kaliningrad borders directly on Poland, and it houses thousands of ground troops, not to mention anti-aircraft weaponry as well as air and naval forces. For years, the U.S. has expressed disapproval of the strong and growing Russian military presence in Kaliningrad, but Russia doesnt seem to be backing down . The military threat in Kaliningrad should not be underestimated, and Kaliningrads obvious strategic importance is as a gate to Poland, and thus to Europe and NATO. Nevertheless, Kaliningrad is small, and any massive land incursion i.e., any incursion large enough to be successful in a conflict with NATO would likely have to come from the main body of Russia and so would have to cross through the small NATO states of Estonia, Latvia, and Lithuania before marching into Poland. It is highly doubtful that any of those nations would be able to support the kind of large-scale, permanent base that Duda had proposed, so Poland would still seem the obvious location for a physical deterrent to Russian aggression. But it turns out that Poland couldnt support Fort Trump, either. Army Secretary Mark Esper concluded as much after considering the Polish proposal. The space the Polish government was prepared to provide was nowhere near sufficient for a full-scale base, and while the financial commitment of the Polish government was sizable ($2 billion), there is no guarantee that this would cover the costs of such a massive project. A permanent project would almost certainly require significant financial contributions from the U.S., sooner or later. Beyond the logistical difficulties, theres a problem of NATO policy and norms here. The Founding Act on Mutual Relations, Cooperation, and Security between NATO and the Russian Federation (1997) states, In the current and foreseeable security environment, NATO plans to carry out its collective defence and other missions by ensuring the necessary interoperability, integration and capability for reinforcement rather than by additional permanent stationing of substantial combat forces. Accordingly, the Alliance will have to rely on adequate infrastructure to allow for reinforcement if necessary. This doctrine has guided the American practice of cycling troops through Poland on a constant (but rotational and thus technically impermanent) basis, while maintaining longstanding posts in Germany as the base of U.S. forces in Europe. Poland has clearly determined that this guideline is no longer binding, either because we have moved beyond the current and foreseeable security environment of 1997 or because of some general perception of relaxed standards for meeting NATO commitments. Story continues Hence the more limited deal struck between Duda and Trump. Yet even that agreement has drawn criticism from two opposing sides. One camp argues that it increases the already outsized American role in the defense of NATOs European frontier; another that it fails to adequately protect that frontier against possible attack. Neither objection ultimately withstands scrutiny. In an analysis at The Hill , Daniel DePetris argues that the U.S. should not provide any further military support to NATO until other member states start paying their fair share. The U.S. is one of only five member states out of 28 that actually meet the minimum defense-spending threshold of 2 percent of GDP. In fact, at 3.6 percent of its own GDP and 71.7 percent of NATOs total defense spending, the U.S. is paying well above its fair share. But DePetris quickly glances over the fact that one of the other four non-delinquent countries is . . . you guessed it, Poland. More than just meeting its NATO obligation, Poland has actually spent billions of dollars in recent years to augment its own national-defense systems with American technology. Rather than focusing on these facts, and the inclination they should inspire in us to work with Poland especially , DePetris uses the recent agreement as a jumping-off point to discuss the delinquency of one of NATOs most negligent members: Germany. He justifies his imprecision with a shockingly blatant dismissal: The details are less important than the general picture. Actually, the details are pretty important. For one thing, the additional troops being sent to Poland will be drawn from the many thousands currently stationed in Germany. Beside the obvious strategic advantages of a strong presence in Poland, the removal of a thousand troops in favor of a more cooperative and supportive ally should send a clear message to German leaders. Given how important and established our German bases are, and considering the various other limitations on American action here, such a relatively small, symbolic action is probably all we can afford at the moment. But it could be enough to light a fire under some rear ends in Berlin. The opposite objection that the escalation doesnt go far enough has a kernel of legitimacy, too. If Russia ever does invade Poland, a thousand extra U.S. soldiers probably wont tip the scales in Polands favor. But, just as the move sends a message to apathetic allies, it sends another to our more ambitious rivals: If we can place these troops here, we can place more, and we wont be afraid to do it if the need arises. It is more a deterrent than an actual defense plan in the event of an invasion. The kind of large-scale operation that Duda requested would be plausible only in such an event. In the meantime, a show of strength to Russia and of friendship to Poland is a step in the right direction. We need to be ready for major military action in defense of Poland and to make our readiness known. An invasion is unlikely, certainly, but Russian military activity in Kaliningrad suggests that we cant afford to be naïve about the possibility. They may not be planning an invasion, but they have certainly prepared for one. We would be foolish not to do the same. More from National Review NATOs Expanding Liabilities Why NATO Matters NATO Predictions: Trump Makes Progress, Change Ahead View comments |
MLB's top-rated stadiums, according to ticket buyers
The San Diego Padres’ home field, Petco Park, is Major League Baseball’s top-rated stadium, according to ticket buyers on one secondary market platform.
Roughly 8,000 MLB fans active on SeatGeek, a secondary market vendor, ranked the league’s 30 stadiums based on three major criteria – atmosphere, food and bathrooms. Users were asked questions by email about their home team’s stadium ranging from the cleanliness of its bathrooms to which features qualified as “can’t miss” attractions. Based on their responses, the stadiums were ranked on a 1 to 5 scale.
PetCo Park topped all other MLB stadiums with a 4.28 overall rating, ranking third or higher in all three major categories. Fans touted PetCo Park’s close relationship with its local military population, extensive craft beer selection and food-based promotions such as Taco Tuesday as some of their favorite features.
“PetCo Park is the perfect stadium for those that don’t enjoy staying in their seats for the whole nine innings,” SeatGeek says in itsstadium guide.
The Philadelphia Phillies’ Citizens Bank Park ranked second with a 4.21 rating, followed by the San Francisco Giants’ Oracle Park with a 4.20 rating.
In terms of stadium atmosphere, the Pittsburgh Pirates’ PNC Park outpaced all other contenders with a 4.65 rating out of 5. Fans said the Chicago White Sox’s Guaranteed Rate Field has the best food of any baseball stadium (4.33 out of 5), while the Atlanta Braves’ SunTrust Park has the cleanest bathrooms (4.18 out of 5).
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On the other end of the spectrum, the Oakland A’s’ dated Oakland-Alameda County Coliseum drew a league-worst rating of 3.03 out of 5. The Tampa Bay Rays’ Tropicana Field (3.34) and the Toronto Blue Jays’ Rogers Centre (3.44) rounded out the bottom three.
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Hands on the wheel with Tesla's new in-car racing video game
Why not play a game while sitting and waiting for your electric vehicle to charge up? No, not on your phone. That'd be too easy. Instead, you can now use the very car you're sitting in — well, if it's a Tesla.
Tesla's Easter egg drawer full of video games housed in the main touchscreen is bursting with new additions, including a kart racing game from Vector Unit made just for Tesla. A new bottom menu on the main screen now includes an Arcade button for direct access to the games menuBeach Buggy Racing 2'sTesla Edition takes drivers on 22 beach-themed tracks. The new game is rolling out to Tesla Model S, X, and 3 owners this week.Read more...
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This Bride Had Two Haute Couture Gownsand Over Five LooksFor Her Stunning Wedding in Capri
Photo credit: Shawn Connell From Town & Country Photo credit: Shawn Connell It took a decade of dating, but there was never any doubt that college sweethearts Jamie Bernfield and Seth Birkan would end up married-the only question was where. Travel is a huge part of our relationship, says Jamie. Any excuse we have to get away, we do. The bride, the director of marketing of Everafter and The Westside (retail concepts from the founders of Intermix), and the groom, a writers assistant on Showtimes Ray Donovan, had visited Iceland, France, Portugal, Spain, and Seths childhood home of Johannesburg, South Africa in their many years together. But, it was a 2013 trip to Italys Amalfi Coast-specifically the island of Capri-that really captured their hearts. Photo credit: Shawn Connell Photo credit: Shawn Connell Jamie and Seth met as many young couples do: at a bar in college. She was a freshman and he was a sophomore at the University of Illinois at Urbana-Champaign. A mutual friend had a feeling theyd hit it off; the night they were introduced, Jamie may have been sending signals, but I wasnt really picking them up because Im generally much more introverted, says Seth. The two became friends first-often studying together-and, says Jamie, Our relationship didnt flourish until months after we met, once we both realized that we were spending all of our time together. They were each others first real relationship, and the couple dated throughout college, spent a year doing long-distance while Seth was in graduate school in Chicago, and finally reunited in New York, where they still live today. It was a few more years before Seth popped the question, but he did propose-with a round-cut diamond on a rose gold band, designed by Levy Creations in Chicago. He also made it well worth the wait. The two were on vacation in the French Riviera, and on the second day, Seth had arranged for their terrace at La Chèvre DOr to be decorated with hundreds of flowers. Jamie wasnt completely surprised, and not only because she saw the photographer Seth had hired to capture the moment. Wed been together for a really long time, and its hard to get things past me, she says. I really wanted to be surprised, but I also needed to be prepared to know what to pack, so there were hints along the way. This became an unspoken engagement trip, but I didnt know it would happen on the second day. Photo credit: Shawn Connell Photo credit: Shawn Connell As they began to consider where to wed, they each made a list of five destinations they liked; Capri was the only destination where their lists overlapped. The New York-based couple enlisted Jung Lee of Fete to bring every vision of their four-day wedding celebration to life, from Thursdays beach party to Sundays farewell supper. The couple also tapped Shawn Connell to capture each event of their multi-day affair. As Jamie says, It was a journey through Capri filled with food, love, and la dolce vita. Story continues Capri came to no surprise, since, as Jamie says, We talked about getting married there for a good two and a half years-and some of the things we did, we had actually fake planned before. It also helped that its located about halfway between New York and South Africa, so a lot of family could attend. The couple ended up visiting four more times while putting together the four-day itinerary for their friends and family. Eating and drinking was a theme throughout the weekend, Seth says. The couple privatized the 52-room Hotel Luna , where almost all of the 137 guests stayed. (The rest of their guest list booked rooms at the propertys sister hotel, La Residenza , a few blocks away.) Photo credit: Shawn Connell Photo credit: Shawn Connell Photo credit: Darren Ornitz The official events began on Thursday, with a welcome party for 90+ close family and friends at Il Riccio beach club, followed by dinner at Da Paolino . Jamie wore a Dolce & Gabbana star-studded mini dress with Dolce & Gabbana pink studded heels; Seth donned a Dolce & Gabbana double-breasted blue-grey linen blazer, white Dolce & Gabbana jeans, and Ferragamo loafers. That night also served as Jamie and Seths official bachelorette/bachelor parties. Following dinner, they split up with their closest friends- a night in the VIP area of a dance club for her, cigars and beer pong in the hotel suite for him (before the two reunited at the club to party with their entire bridal party). By Friday, all 137 guests had made it to Capri. For the rehearsal dinner, Seth and Jamie invited everyone to La Fontelina , a place they fell in love with on their initial trip in 2013. The couple arranged for 18 traditional wooden boats to transport everyone from the marina to the restaurant, which the team at Fête had designed to feel like 1960s Italy. It was classic, sophisticated, and in many ways influenced by Sofia Loren, says Jamie, who wore a black-and-white embroidered lace mini dress by Dior and Dolce & Gabbana chunky lace sandals. The decor included custom tables inspired by Gio Pontis painted tiles, specialty bottled cocktails for each guest, an Italian quartet, and a family-style meal that included linguini with zucchini, the restaurants most iconic dish. It tastes like its made with tons of cream, but its just zucchini and pasta, says Seth, who wore a blue-grey Prada suit with white Zegna sneakers. The wedding day did not began as Jamie was hoping-there was rain. Lots of it. Without a back-up plan, Jamie and Jung Lee from Fête considered postponing the ceremony until the next day, but decided to hope for the best. (Seth, meanwhile, was doing his Fantasy Football draft with his friends, and had no idea.) By some miracle, it didnt rain during the ceremony, Jamie recalls. But the wind was whipping, and by the end you could tell a storm was brewing...the sky got dark and there was lightning. We learned after the fact that there were flash floods in Naples! But get married they did. And before the ceremony, Jamie and Seth had a traditional first look-which Seth recalls as his favorite moment of the day. She had spent so much time on [her dress], and it [was[ not what I was expecting at all, he says. The dress was stunning. Photo credit: Mark Kauzlarich Photo credit: Shawn Connell Photo credit: Shawn Connell Photo credit: Shawn Connell But finding her bridal look was no easy feat for Jamie, who visited boutiques across New York, Chicago, Los Angeles, and London-trying on more than 50 dresses in the process-without finding what she was looking for. Fashion has always been rooted in my DNA, personally and professionally, and I did not want to lose that identity as a bride, Jamie says. It wasnt until she attended the Haute Couture runway show of Giambattista Valli in Paris, and saw a rose-print gown she knew was the one. The designer agreed to create two custom dresses for her: one in the rose pattern with a short hem in front and a long flowing train to wear down the aisle, and the other a floor-length, off-the-shoulder pink chiffon gown for the reception. Designing the dresses through sketches, mock-ups, and fittings was a idyllic process, she says. The team was incredible to work with from start to finish. She completed her ceremony look with Aquazzura ruby red velvet platform sandals, as well as an Emsaru custom ruby choker and Anita Ko marquis diamond stud earrings. The couple exchanged vows at the Gardens of Augustus, botanical gardens with various tiers and terraces that date back to the early 1900s. After sipping on pre-ceremony cocktails, guests were led to a higher level where seats had been arranged in a semi-circle facing the Faraglioni rocks. We wanted the ceremony to have a sense of whimsy, says Jamie. Most aisles are straight, but Fête created an organic pathway delineated with thousands of pale pink carnations, inspired by a photo they showed me of Tory Burchs Fall 2018 fashion show. Photo credit: Shawn Connell Photo credit: Shawn Connell Photo credit: Shawn Connell Perhaps the biggest challenge was finding a rabbi to officiate. Luckily, they found an American expat in nearby Calabria, who incorporated a few Italian-Jewish traditions. We signed the ketubah during the ceremony instead of before, so it was special to have everyone be able to witness that, Jamie says. For their vow exchange, the groom wore a custom Tom Ford navy tuxedo. After the ceremony, the local folk band, Scialapopolo , led guests to the reception at the Capri Rooftop . Our vision for the reception was an Italian villa, Seth says. It felt like an intimate and lively dinner party, with long tables decorated with candles and candelabras, floral arrangements of varying heights, and mismatched china and glassware. Fête even designed pale pink and grey stucco-like wallpaper to mimic the worn walls of a villa, says Jamie, who changed into her pink chiffon gown and Gucci T-strap platform sandals in metallic and moire silk an hour into the party, just in time for the surprise fireworks display. Photo credit: Shawn Connell Photo credit: Shawn Connell Dinner was an epic Italian feast that included burrata with grilled vegetables and balsamic vinegar, grilled branzino, and steak with potatoes. Waiters also came around with big bowls of pasta-gnocchi pomodoro and tagliatelle with pesto-serving people individually. But the focus of the evening was on the dance floor, which was designed to look like a mosaic tile pattern and felt like an extension of the gardens, with a canopy of greenery and bright pink florals. The Inspiration Band from Paris set the tone for a night of partying, walking around the tables, serenading guests, and getting down on the dancefloor. That was a priority for us-we wanted people to be out of their seats, says Seth. My 85-year-old grandma who had just had her hip replaced danced for three straight hours. Photo credit: Darren Ornitz Photo credit: Shawn Connell Photo credit: Darren Ornitz Photo credit: Darren Ornitz Jamie and Seth waited until the end of the night to cut their Italian-style millefoglie wedding cake, doing it in the middle of the dance floor right before their speeches. I feel like people miss the cake or its an afterthought, and we wanted it to be a moment for everyone and not just bride and groom, Jamie said. They also surprised Jamies parents with a cake of their own, since the wedding fell on the same weekend as their anniversary. Other sweet treats included homemade bombolinis fried and filled on the spot, and a local sorbet and gelato cart. At around 12:30 a.m., everyone headed to the lobby of the Hotel Luna, where DJ Charlie Weaver from London-who had played the night prior at La Fontelina-took over. There was a club-style lounge, tables with bottle service, and waiters passing mini burgers and fries. But the highlight may have been the pizza maker they brought over from nearby Sorrento. He worked the oven until 4 a.m. and must have made 500 pizzas! Jamie says. Ive never stayed up that late in my life, but we didnt want the night to end. Photo credit: Darren Ornitz Photo credit: Shawn Connell Photo credit: Darren Ornitz The next day, Jamie and Seth threw a party at Lido del Faro beach club. Buses were scheduled to leave at 11 a.m., and Jamie did not have high hopes of people being ready on time. 100 people were there, she says. That was just a testament that nobody wanted to miss anything, and everyone was on this high. That night, they hosted a dinner at Villa Verde with an all-white dress code; Jamie was a vision in a Zimmermann white beaded lace mini-dress with Zimmermann white beaded wedges, and Seth wore a white Dolce & Gabbana T-shirt, a tan laser-cut Zegna couture blazer, white Dolce & Gabbana denim, and white Zegna sneakers. When it was time to say goodbye, people who had never met before were hugging and making plans to see each other again, Jamie recalls. We feel so lucky to have been able to create this meaningful experience for people. Photo credit: Shawn Connell Photo credit: Shawn Connell The newlyweds postponed their honeymoon travels for five months, which gave them plenty of time to plan a six-week getaway to New Zealand, Australia, and Fiji. These destinations allowed for the perfect mix of exploration and adventure, breathtaking scenery, culinary and wine experiences, and relaxation, Jamie says. They stayed in a variety of stunning properties-including Matakauri Lodge in Queenstown and Longitude 131 in the Australian outback-but the highlight was their stay at 25-room Laucala Island in Fiji. Its so remote; a few days into our stay, we were the only guests on the property, Seth says. Whatever we wanted to do, they helped us do it-it was like having our own private-island playground. Each of them secretly emailed with their travel agent to pull off surprises-tickets to the Australian Open for Seth, and a photographer in Fiji for an official honeymoon shoot for Jamie. Since hed also hired a photographer for our engagement, it took it full circle, Jamie says. It was really special. ('You Might Also Like',) 12 Weekend Getaway Spas For Every Type of Occasion What Your Favorite Champagne Brand Says About You Beauty Gurus Share Their Makeup Secrets for Older Women View comments |
You Might Like Port of Tauranga Limited (NZSE:POT) But Do You Like Its Debt?
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Port of Tauranga Limited (NZSE:POT) is a small-cap stock with a market capitalization of NZ$4.1b. While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. Why is it important? Evaluating financial health as part of your investment thesis is essential, since poor capital management may bring about bankruptcies, which occur at a higher rate for small-caps. The following basic checks can help you get a picture of the company's balance sheet strength. However, these checks don't give you a full picture, so I’d encourage you todig deeper yourself into POT here.
Over the past year, POT has ramped up its debt from NZ$431m to NZ$469m , which accounts for long term debt. With this rise in debt, the current cash and short-term investment levels stands at NZ$3.2m , ready to be used for running the business. On top of this, POT has produced NZ$101m in operating cash flow in the last twelve months, resulting in an operating cash to total debt ratio of 21%, meaning that POT’s current level of operating cash is high enough to cover debt.
Looking at POT’s NZ$321m in current liabilities, it appears that the company may not have an easy time meeting these commitments with a current assets level of NZ$62m, leading to a current ratio of 0.19x. The current ratio is the number you get when you divide current assets by current liabilities.
POT is a relatively highly levered company with a debt-to-equity of 43%. This is somewhat unusual for small-caps companies, since lenders are often hesitant to provide attractive interest rates to less-established businesses. No matter how high the company’s debt, if it can easily cover the interest payments, it’s considered to be efficient with its use of excess leverage. A company generating earnings before interest and tax (EBIT) at least three times its net interest payments is considered financially sound. In POT's case, the ratio of 7.63x suggests that interest is appropriately covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback.
POT’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow. But, its low liquidity raises concerns over whether current asset management practices are properly implemented for the small-cap. Keep in mind I haven't considered other factors such as how POT has been performing in the past. You should continue to research Port of Tauranga to get a better picture of the stock by looking at:
1. Future Outlook: What are well-informed industry analysts predicting for POT’s future growth? Take a look at ourfree research report of analyst consensusfor POT’s outlook.
2. Valuation: What is POT worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? Theintrinsic value infographic in our free research reporthelps visualize whether POT is currently mispriced by the market.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
PCI Express 6 spec promises massive headroom for AI and storage
PCI Express 5.0 has barely been finalized, but that isn't stopping its creators from dreaming about what comes next. The PCI Special Interest Group hasunveileda PCI Express 6.0 specification that should deliver up to a blistering 256GB per second across 16 lanes -- that's twice as fast as the yet-to-ship PCIe 5.0 spec, and four times as much as the 4.0 spec that's only just reaching computers. The PCI-SIG aims to achieve the feat by using Pulse Amplitude Modulation technology that can carry twice as much data as existing methods without needing to double the transmission bandwidth and use ridiculously high frequencies.
The format will remain backward compatible with earlier versions, so you won't have to toss out legacy cards.
There's one main obstacle: as with past specs, there will be a long gap between the PCIe specification's introduction and when it reaches something you can buy. The PCI-SIG doesn't expect to finalize 6.0 until 2021, and it'll realistically require a year or two after that before processors and peripherals take advantage of the extra bandwidth.
Still, it could be worth the wait. Everyday graphics cards wouldn't benefit as much (at least not at first), but this could be extremely helpful for AI acceleration, solid-state drives,non-volatile memoryand other tasks that are highly dependent on transferring massive amounts of data. If there are any bottlenecks in the near future, PCI Express won't be to blame. |
Twice burned: Winklevii overshadowed by Zuckerberg yet again
SAN FRANCISCO (AP) — Can a Libra and two Geminis get along? How about Facebook and the Winklevoss twins? Back in the day, Mark Zuckerberg's hunky Harvard classmates claimed the Facebook CEO stole their idea for the social network when he was just a nerdy undergrad. Now, Facebook's grand plan for a new digital currency called Libra could bring the three men together again — though it remains to be seen whether there'll be enough drama to warrant a sequel to "The Social Network," the 2010 film based on the story of Facebook's founding. Tyler and Cameron Winklevoss have busied themselves since their Harvard days — they're 37 now, while Zuckerberg is 35 — investing heavily in Bitcoin, currently the best-known "cryptocurrency." With Libra, though, Facebook is hoping to change that, and so once again Zuckerberg seems to be one-upping the "Winklevii" in their own backyard. Perfect for a dramatic retelling, right? But how about a rom-com, or at least a bromance? The Winklevoss twins, it turns out, have also founded Gemini, a cryptocurrency exchange based in New York City. The idea behind the exchange, started in 2014, was to create a secure ecosystem that is "free of hacking, fraud and security breaches," to move cryptocurrency out of Wild West days and into something that's regulated, secure and used by regular people. Facebook's Libra, meanwhile, hopes to be the first Bitcoin-like currency with mass appeal, thanks to its backing by familiar corporations like Uber, Visa and Mastercard. Is there room for some cooperation? Or will the twins get burned again? In an interview with CBS News on Sunday, Cameron Winklevoss said he was not worried about Libra's launch. "There's so much pie to grow, I mean, at this point, we need to be frenemies," he said. Representatives for Facebook and Gemini did not immediately return messages for comment on Tuesday. |
IAAF said Caster Semenya was 'biologically male' in court
South Africa's Caster Semenya competes in the women's 800-meter final during the Diamond League in Doha, Qatar, Friday, May 3, 2019. (AP Photo/Kamran Jebreili) The International Association of Athletics Federation (IAAF) contended in court that Olympic gold medalist Caster Semenya is a “biologically male athlete with female gender identities.” That was the argument the organization made in February that led to Semenya getting banned from events unless she took hormone-suppressants, according to the Associated Press. Court documents were released Tuesday which showed the tactics used by the IAAF to get the ban instituted. The 28-year-old Semenya said the IAAF’s argument “hurts more than I can put into words.” Semenya was assigned female at birth. The IAAF initially won that ruling 2-1. It was later temporarily suspended by the Swiss Supreme Court. The IAAF has until June 25 to respond. The 163-page court decision also revealed Semenya’s decade-long fight with the IAAF. In 2009, the organization sent a gynecologist to examine Semenya. She later realized she had undergone “a gender verification test.” Prior to the 2009 World Championships, a newspaper wrote an article saying Semenya had both female and male organs. Semenya won the race, but called it the “most profound and humiliating experience of my life.” After winning that event, Semenya had to undergo another “gender verification test.” She said she was ordered to do it by the IAAF, and had “ no choice but to comply with” it. Semenya did take hormone suppressants for a few years, but said they caused nausea, abdominal pain and weight gain. Those symptoms kept her from competing at a high level for years. When the IAAF attempted to impose its ban early in 2019, Semenya said she had no interest in taking hormone suppressants again. With the temporary suspension of that ruling, Semenya will compete in the 800-meter event June 30. She has dominated that event, winning gold medals in the 800-meter event at both the 2012 and 2016 Olympics. (Yahoo Sports Olympics H/N: NBCSports ) ——— Chris Cwik is a writer for Yahoo Sports. Have a tip? Email him at christophercwik@yahoo.com or follow him on Twitter! Follow @Chris_Cwik More from Yahoo Sports: Women’s World Cup about to get tougher for USWNT Report: Kyrie has ‘essentially ghosted’ Celtics Prosecutors identify man allegedly behind Ortiz plot How does Davis trade compare to other NBA mega-deals? |
LaCroix Sparkling Water Mystery Reveals Gaps in Regulation of Carbonated Bottled Water
Consumer Reports has no financial relationship with advertisers on this site. Consumer Reports has no financial relationship with advertisers on this site. Update: On June 26, LaCroix announced it had received a permit from Massachusetts to sell its carbonated water in the state. The action followed a report from CR showing that the company previously lacked a permit. The state has still not responded to CR's public records request seeking results of the most recent quality test results for LaCroix. This story was originally published on June 18, 2019. What's in the popular sparkling water LaCroix? The question has sparked fascination on the internet, as consumers have tried to understand what gave the popular beverage its flavor, and even became a focal point in recent litigation. LaCroix's parent company, National Beverage Corp., offers little insight, saying only that its carbonated water is flavored with "natural essence oils." Consumer Reports tried to unpack the beverage's vague backstory by turning to Massachusetts, one of apparently only a few states in the U.S. that requires carbonated water manufacturers to obtain a permit to sell its product, as well as submit water-quality test results to regulators . Late last month, CR filed a public records request for National Beverage's most recently submitted quality test results for LaCroix. But the mystery of LaCroix carries on. The Massachusetts Department of Public Health told CR that it doesn't have a permit on file for National Beverage to sell in the state, nor did it have any test results that could be provided. The situation reveals an unusual quirk of food safety regulations: Federal and state regulations typically treat artificially carbonated waters—including club soda, tonic water, seltzer, and sparkling water—differently than bottled water. (Sparkling mineral water, which is naturally carbonated and contains natural minerals, is regulated like bottled water.) And even in states that have added oversight of those fizzy waters, there's apparently occasional slip-ups in enforcement. Story continues "This highlights that we have a patchwork of often ineffective rules for bottled and canned waters, and that there are some gaping holes in this scheme," says Erik Olson, senior director of health and food at the Natural Resources Defense Council (NRDC), which published a major bottled water study in 1999 . The Food and Drug Administration, which oversees the bottled water industry, regulates carbonated water as soft drinks . The agency requires manufacturers of those products to adhere to "good manufacturing practices," like maintaining proper sanitation in their workspace. And federal law requires soft drinks to be safe and truthfully labeled, says Peter Cassell, an FDA spokesperson. But the "FDA has not established a standard of quality regulation" for soft drinks, including carbonated beverages, Cassell says. That means that, unlike bottled water, there's no limits set for contaminants that can be present in carbonated water. A few states have extra measures that go above and beyond FDA regulations of soft drinks, according to a spot check by CR of bottled water regulations in 31 states. But generally, companies that sell carbonated water are exempt from key regulations that bottled-water makers must abide by, including routine quality testing and contamination limits. Massachusetts appears to be a rarity among states in requiring carbonated water manufacturers to conduct quality tests and submit them to a regulator. The LaCroix Mystery Continues Massachusetts' health department sent National Beverage a notice dated June 4 to submit the necessary paperwork for LaCroix or face potential legal consequences, says Ann Scales, a spokesperson for the agency. Scales says the state could fine the company or bar it from selling LaCroix in the state if it fails to correct the situation. National Beverage told CR in a statement that it is subject to regulations of "numerous states and localities that vary on a market-by-market basis," and that it received a letter from Massachusetts regulators on June 10, "following a recent file review by the Commonwealth." "The Company intends to work with the Commonwealth to provide all requested information in a timely fashion," the statement said. Different Water, Different Rules The disconnect between the FDA’s oversight of bottled water and its fizzy counterparts has been criticized in the past. For example, in the late 1990s, after the FDA create a more robust set of regulations for bottled water, Olson, at the NRDC, urged the agency to regulate carbonated waters under the same set of rules as still or spring bottled water. "We doubt that most consumers would agree that water in a bottle listed on the ingredient label as 'water' or 'sparkling water' or 'filtered water' should be exempted from the specific health-protection standards that cover any other bottled water," Olson wrote at the time. Carbonated waters include club soda (infused with sodium, potassium, or other minerals), tonic water (infused with minerals and quinine), and seltzer or sparkling water (with carbonation alone or infused with flavors). The agency conceded in the mid-1990s that carbonated waters "may constitute a major portion of some consumers' daily water intake." But ultimately it decided that, because there were already different standards in place for bottled water and carbonated products, there was no reason to make a change. And the agency doesn't appear to have plans to change that approach anytime soon. As a result, it’s still harder for consumers to get information about the quality of carbonated waters than for bottled waters. And, as CR previously reported , even information about bottled water can be hard to get. Though the FDA has general oversight of bottled water, it relies on states to conduct facility inspections and monitor compliance with quality standards. States have leeway, like Massachusetts, to enforce the same standards for carbonated water that exist for bottled water, but many don't, creating a patchwork of regulations across the country. Consumers interested about how their state oversees carbonated and seltzer waters could contact their relevant state authority and ask whether those products are regulated similarly as bottled water. Companies generally include contact information on the side of their product, too. More from Consumer Reports: Top pick tires for 2016 Best used cars for $25,000 and less 7 best mattresses for couples Consumer Reports is an independent, nonprofit organization that works side by side with consumers to create a fairer, safer, and healthier world. CR does not endorse products or services, and does not accept advertising. Copyright © 2019, Consumer Reports, Inc. |
San Francisco May Ban All E-Cigarette Sales
San Francisco supervisors are considering whether to move the city toward becoming the first in the United States to ban all sales of electronic cigarettes to crack down on youth vaping.
Supervisors on Tuesday were set to weigh a ban on the sale and distribution of e-cigarettes until the Food and Drug Administration completes a review of the effects of e-cigarettes on public health, as well as ban the manufacturing of e-cigarettes on city property.
If supervisors approve the measures, they will require a subsequent vote before becoming law.
“Young people have almost indiscriminate access to a product that shouldn’t even be on the market,” said City Attorney Dennis Herrera. Because the FDA has not acted, he said, “it’s unfortunately falling to states and localities to step into the breach.”
Since 2014, e-cigarettes have been the most commonly used tobacco product among young people in the country. Last year, 1 in 5 U.S. high school students reported vaping in the previous month, according toa government survey.
FDA spokesman Michael Felberbaum said in a statement that the agency will continue to “tackle the troubling epidemic of e-cigarette use among kids.”
“This includes preventing youth access to, and appeal of, flavored tobacco products like e-cigarettes and cigars, taking action against manufacturers and retailers who illegally market or sell these products to minors, and educating youth about the dangers of e-cigarettes and other tobacco products,” he said.
Leading San Francisco-based e-cigarette company Juul frames vaping as a healthier alternative to smoking tobacco. Juul has said it has taken steps to deter children from using its products. The company said in a statement that it has made its online age-verification process more robust and shut down its Instagram andFacebookaccounts to try to discourage vaping by those under 21 years old.
“But the prohibition of vapor products for all adults in San Francisco will not effectively address underage use and will leave cigarettes on shelves as the only choice for adult smokers, even though they kill 40,000 Californians every year,” said Juul spokesman Ted Kwong.
Tuesday’s expected vote also sets the stage for a November ballot fight over e-cigarettes. Juul has already contributed $500,000 to the Coalition for Reasonable Vaping Regulation, which is set to gather signatures to put an initiative on the issue before voters.
The American Vaping Association also opposes San Francisco’s proposal, saying adult smokers deserve access to less hazardous alternatives.
“Going after youth is a step that you can take before taking these out of the hands of adults,” said association president Gregory Conley.
Groups representing small businesses also oppose the measures, which they say could force stores to close.
“We need to enforce the rules that we have in place already,” said Carlos Solórzano, CEO of the Hispanic Chamber of Commerce of San Francisco.
Although San Francisco’s proposed ban is unlike any other in the country, the Public Health Law Center at Mitchell Hamline School of Law reports that all but two states have at least one law restricting youth access to e-cigarettes. City voters last year approved a ban on sales of candy and fruit-flavored tobacco products.
Stanton Glantz, a professor of medicine at the University of California San Francisco Center for Tobacco Control and Research and a supporter of the measures, said e-cigarettes are associated with heart attacks, strokes, and lung disease.
The presence of e-cigarettes has “completely reversed the progress we’ve made in youth smoking in the last few years,” he said.
—P&G and Thrive Global team upto boost wellness with everyday products
—As states like Texasban under-21 tobacco sales, retailers are adapting
—Commentary: WhyAlexa gaining medical skillscould be bad for health care
—CVS wants to make yourdrugstore your doctor
—Listen to our new audio briefing,Fortune 500 Daily
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Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project
Rep. Maxine Waters, chairwoman of theUnited StatesHouseof Representatives’ Financial Services Committee is requesting thatFacebookhalt development on its cryptocurrency, the Libra, as reported by CNN Tech Reporter Brian Fung in a series oftweetsJune 18.
In her statement, Rep. Waters explained:
“Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action”
In response, Rep. Patrick McHenry, also of the Financial Services Committee, said the following:
“It is incumbent upon us as policymakers to understand Project Libra. We need to go beyond the rumors and speculations and provide a forum to assess this project and its potential unprecedented impact on the global financial system.”
The implications of these statements remain unclear, as does their significance for Facebook and Project Libra.
This news comes the same day that Facebook released the white paper for its new crypto project, as Cointelegraphreported.
Recently, Facebook has been assembling investors into its “Libra Association,” a who’s who of major payment and tech companies willing to invest $10 million each into Project Libra.
Only last month, the Financial Services Committee passed aresolutionto form the Task Force on Financial Technology. The Task Force’s mission is to “examine the current legal framework forfintech, how fintech is used in lending and how consumers engage with fintech.”
• Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16
• Russia Will Not Legalize Facebook’s Cryptocurrency, Official Says
• French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin
• CME: Open Interest in Bitcoin Futures Contracts Hit All-Time High |
Why National Veterinary Care Ltd's (ASX:NVL) High P/E Ratio Isn't Necessarily A Bad Thing
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This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll show how you can use National Veterinary Care Ltd's (ASX:NVL) P/E ratio to inform your assessment of the investment opportunity.What is National Veterinary Care's P/E ratio?Well, based on the last twelve months it is 21.96. That corresponds to an earnings yield of approximately 4.6%.
View our latest analysis for National Veterinary Care
Theformula for P/Eis:
Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Or for National Veterinary Care:
P/E of 21.96 = A$2.02 ÷ A$0.092 (Based on the year to December 2018.)
A higher P/E ratio implies that investors paya higher pricefor the earning power of the business. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future.
Earnings growth rates have a big influence on P/E ratios. Earnings growth means that in the future the 'E' will be higher. And in that case, the P/E ratio itself will drop rather quickly. A lower P/E should indicate the stock is cheap relative to others -- and that may attract buyers.
National Veterinary Care maintained roughly steady earnings over the last twelve months.
One good way to get a quick read on what market participants expect of a company is to look at its P/E ratio. You can see in the image below that the average P/E (17) for companies in the healthcare industry is lower than National Veterinary Care's P/E.
Its relatively high P/E ratio indicates that National Veterinary Care shareholders think it will perform better than other companies in its industry classification. Shareholders are clearly optimistic, but the future is always uncertain. So further research is always essential. I often monitordirector buying and selling.
One drawback of using a P/E ratio is that it considers market capitalization, but not the balance sheet. That means it doesn't take debt or cash into account. The exact same company would hypothetically deserve a higher P/E ratio if it had a strong balance sheet, than if it had a weak one with lots of debt, because a cashed up company can spend on growth.
Such spending might be good or bad, overall, but the key point here is that you need to look at debt to understand the P/E ratio in context.
National Veterinary Care's net debt equates to 29% of its market capitalization. You'd want to be aware of this fact, but it doesn't bother us.
National Veterinary Care's P/E is 22 which is above average (16.2) in the AU market. With debt at prudent levels and improving earnings, it's fair to say the market expects steady progress in the future.
When the market is wrong about a stock, it gives savvy investors an opportunity. As value investor Benjamin Graham famously said, 'In the short run, the market is a voting machine but in the long run, it is a weighing machine.' So thisfreevisual report on analyst forecastscould hold the key to an excellent investment decision.
Of course,you might find a fantastic investment by looking at a few good candidates.So take a peek at thisfreelist of companies with modest (or no) debt, trading on a P/E below 20.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Donations to Charities Drop After Trump Tax Law
Americans gave less money to charity in 2018 and some experts think the GOP tax overhaul is to blame.
Total donations fell 1.7% in inflation-adjusted terms to $427.7 billion last year, according to Giving USA’s annual report released Tuesday. By comparison, charitable donations grew 3% the year before.
The Tax Cuts and Jobs Act eliminated the benefit of the tax deduction for charitable donations for millions of Americans by doubling the standard deduction. About 88% of taxpayers took the standard deduction for 2018, with the number of filers itemizing their deductions falling from 46.5 million in 2017 to 18 million in 2018. As many charitieswarned might happen, the change appears to have had a significant negative effect on individual giving, which dropped 3.4% in 2018.
Some types of organizations were hit harder than others. While environmental and animal-related organizations recorded a 1.2% increase in donations, religious organizations saw 3.9% decrease and public-society benefit organization such as the United Way saw a 6% drop.
Although some experts say that instability in the stock market at the end of 2018 could have played a role in the drop, Steve Taylor, a vice president at United Way Worldwide,toldthe Washington Post that “[t]here really is no other explanation for these numbers than changes to the tax law,” adding that he expects the downward trend to continue as more potential donors take the new tax rules into account.
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FedEx (FDX) Outpaces Stock Market Gains: What You Should Know
FedEx (FDX) closed the most recent trading day at $166.34, moving +1.6% from the previous trading session. This change outpaced the S&P 500's 0.97% gain on the day. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 1.39%.
Heading into today, shares of the package delivery company had lost 2.67% over the past month, lagging the Transportation sector's loss of 1.23% and the S&P 500's gain of 0.64% in that time.
FDX will be looking to display strength as it nears its next earnings release, which is expected to be June 25, 2019. The company is expected to report EPS of $4.89, down 17.26% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $17.86 billion, up 3.14% from the year-ago period.
Investors might also notice recent changes to analyst estimates for FDX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.4% lower. FDX is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, FDX is currently trading at a Forward P/E ratio of 10.04. This valuation marks a discount compared to its industry's average Forward P/E of 13.12.
Meanwhile, FDX's PEG ratio is currently 0.79. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.18 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FDX in the coming trading sessions, be sure to utilize Zacks.com.
Click to get this free reportFedEx Corporation (FDX) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Democrats More Likely to Chip Away at the GOP Tax Cuts Than Repeal Them
While some Democratic presidential candidates have talked about repealing the Tax Cuts and Jobs Act in full, Bloomberg’s Laura Davisonsaysthat if the balance of power in Washington shifts in 2020, the more likely course of events would be a slow but steady rolling back of the 2017 tax law’s provisions.
Democrats are debating ambitious policies that call for significant new funding sources, and the tax cuts are being treated as a piggy bank of sorts that could help pay for everything from efforts to fight climate change to new tax credits for low-income workers, Davison reports.
One of the prime targets is the corporate tax rate, which Republicans lowered to 21% and many Democrats would like to raise to 28%. The top individual tax rate is another focus, with some Democrats talking about raising it from 37% to 39.6%, where it was before the tax new law, and others proposing much higher tax rates for the wealthiest.
Speaking to a clergy-led led group Monday, former Vice President Joe Biden said he would like to roll back parts of the GOP tax law to pay for free community college and universal access to Medicaid.
“We have the greatest income inequality in the ... United States of America since 1902. The fact here is, there is plenty of money to go around,” Biden said, according toRoll Call. “This isn’t about punishment ... this is just plain fairness. Simple, basic fairness and we have all the money we need to do it.”
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There are now three people worth over $100 billion
Bernard Arnault, Europe’s richest person, just joinedJeff Bezos and Bill Gatesin the world’s most exclusive wealth club with a fortune of at least $100 billion.
Arnault, chairman of LVMH, entered the ranks of centibillionaires Tuesday as the luxury-goods maker climbed 2.9% to a record 368.80 euros a share. His net worth has increased almost $32 billion this year, the most on the 500-member Bloomberg Billionaires Index.
France’s multibillionaires have added the most wealth among European members of Bloomberg’s ranking in 2019, with Arnault, Kering SA’s Francois Pinault and cosmetics heir Francoise Bettencourt Meyers tacking on more than $40 billion between them. Meanwhile, the brothers behind the Chanel brand, Gerard and Alain Wertheimer, saw their fortunes soar $9.8 billion this week after the Parisian fragrance and fashion house reported its 2018 results.
Arnault’s fortune of $100.4 billion now equals more than 3% of France’s economy, underscoring the wealth gap in his native country, where protesters have agitated this year for more benefits paid for by the rich. Even amid growing trade tensions, Chinese consumers’ appetite for Louis Vuitton handbags and Hennessy cognac has bolstered results for LVMH, the owner of Dom Perignon Champagne and Tag Heuer watches. The company’s shares have surged 43% this year, the third-best performer on France’s CAC 40 Index.
Arnault, 70, and his family are among luxury tycoons who pledgedmore than $650 million in Aprilfor the reconstruction of Notre Dame Cathedral after the landmark church was ravaged by fire. He controls about half of Paris-based LVMH through a family holding company and also owns a 97% stake in Christian Dior, the fashion house founded three years before his birth in 1949.
Arnault entered the luxury-goods market by acquiring a textile group that owned Christian Dior. He sold all of the company’s other businesses and used the proceeds to buy a controlling stake in LVMH in 1988.
Gates, theMicrosoftCorp. co-founder, has donated more than $35 billion tothe Bill & Melinda Gates Foundation.Amazon.comInc.’s Bezos, meanwhile,saw his net worth drop $40 billionearlier this year after reaching a divorce settlement with MacKenzie Bezos.
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Republicans May Understand ‘Medicare for All’ Better Than Democrats: Poll
The 2020 elections are still more than 500 days away, but the first Democratic debates of the presidential campaign are fast approaching. When the candidates gather on June 26 and 27, it’s clear what voters want them to address: health care. More specifically, bringing down health care costs.
The latest tracking poll from theKaiser Family Foundationfinds that 87% of Democratic and Democratic-leaning voters say it’s very important for candidates to talk about health care at the debate. When asked to describe in their own words which health care issues they want addresses, more than one in four pointed to the affordability of care while another 8% said lowering prescription drug prices. Increasing access to care was cited by 18% of respondents, and protecting the Affordable Care Act and protections for people with pre-existing medical conditions was mentioned by 16%.
Another 15% mentioned implementing a single-payer or Medicare-for-all system.
Thepriorities differedamong liberals and moderates, with liberals more likely to mention increased access to health care and implementing Medicare for All.
The Kaiser poll also found that many Americans, especially Democrats, remain confused about just what a single-payer Medicare for All system would entail. The poll finds that most voters believe that taxes would rise for most people under a Medicare for All system. That’s true. But most voters also believe that Americans would have the option of keeping their private insurance plans and would continue to pay premiums, deductibles and co-pays.
By contrast, the Medicare for All overhaul proposed by Sen. Bernie Sanders (I-VT) or in a similarHouse billforth by Rep. Pramila Jayapal (D-WA) would have a government-run system replace most private insurance and provide comprehensive health care benefits without any premiums, deductibles or co-pays. (To be fair, other Democrats have spoken in favor of a hybrid system that allows private insurance to continue to operate alongside a public option.)
The Kaiser poll results are similar to those of aNavigator Research pollwe told you about yesterday, which found that 60% of voters, including 73% of Democrats, said that “Medicare for All” means a health care system “that lets anyone buy Medicare instead of their private insurance, if they want to.”
ThisAxioschart breaks down the Kaiser Family Foundation voters’ conceptions:
The disconnect between American’s perceptions of Medicare for All and the flagship legislation proposed under that name may stem from voters not understanding or knowing the details of the proposals, a Kaiser Family Foundation polling expert toldKaiser Health News— or it could be the result of public skepticism about how much lawmakers would change the existing system.
“It’s not terribly surprising that Americans would have differing ideas of what Medicare-for-all would mean,” The Washington Post’s Paige Winfield Cunninghamwrites. “Such a sweeping overhaul of the country’s patchwork health insurance system hasn’t been attempted before — and even though the 2020 contenders frequently mention it, they tend to shy away from details on exactly how the whole thing would work.”
Why it matters:Americans’ perception of Medicare for All hews more closely to plans offering a public option than to the Sanders vision.
At the same time, Eric Levitz of New York magazinenotesthat “the polls also suggest that voters are unaware of single-payer’s most popular features. When Navigator asked respondents to pick their top three priorities for health-care policy, reducing out-of-pocket costs, premiums, deductibles, and drug prices were by far the most commonly cited. Meanwhile, ‘ensuring that you can keep your existing insurance coverage’ ranked next to last.”
That suggests that the Sanders version of Medicare for All would be more popular “if voters understood that it would abolish premiums and deductibles and bring down overall health-care costs,” Levitz suggests. On the other hand, support for a public option might be even higher than it is if voters knew that such a plan wouldn’t necessarily require significant middle-class tax increases.
The bottom line:The upcoming debates will be a great opportunity for candidates to explain what they envision for the health care system. Also, it’s a good thing we still have 500 days until the election.
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New Jersey may let Golden Nugget casino take some NBA bets
ATLANTIC CITY, N.J. (AP) New Jersey lawmakers are considering loosening their sports betting restrictions to allow the owner of the Golden Nugget casino to accept bets on most National Basketball Association teams. Texas billionaire Tilman Fertitta owns the casino and also owns the NBA's Houston Rockets. When New Jersey lawmakers legalized sports betting last year, a provision in the law banned team owners from placing or accepting bets on any games involving their sport. It was directly aimed at the Golden Nugget and enacted over protests that Nevada regulators allow Fertitta's casinos to take bets on pro basketball games as long as they don't involve the Rockets. A bill introduced Monday in the New Jersey Legislature would allow team owners to take bets on games involving other teams in their leagues, but not their own. "New Jersey's sports wagering industry is new and fledgling, but if we take the handcuffs off, it could surpass Nevada as the largest market in the country within a few years," said Assemblyman Raj Mukherji, a northern New Jersey Democrat who co-sponsored the bill. "I don't see the point of leaving out a potential significant participant in this new industry if sufficient regulation and integrity protections are in place. Nevada has long allowed this same arrangement." Officials with the Golden Nugget and Fertitta's company, Landry's Inc., declined to comment on the bill Tuesday. But casino officials in the past have complained that the law puts them at a significant disadvantage in New Jersey's burgeoning sports betting market because customers are typically not willing to visit two different casinos to place their sports bets. A gambler wanting to place bets on football at the Golden Nugget would have to go somewhere else to bet on basketball, making it much less likely he or she would visit the Golden Nugget at all for sports betting, they argue. New Jersey won a U.S. Supreme Court case in May 2018 clearing the way for all 50 states to offer sports betting should they so choose. Story continues Since it took its first sports bets in June 2018, New Jersey's casinos and horse racing tracks have taken in close to $3 billion, second only to the $5.2 billion Nevada's sports books handled over roughly the same period. ___ Follow Wayne Parry at http://twitter.com/WayneParryAC |
What Oxford Industries Wants Shareholders to Know
Lifestyle fashion brand manufacturerOxford Industries(NYSE: OXM)recorded its ninth consecutive quarter of positive comparable-sales growth in its fiscal first quarter of 2019. The owner of popular clothing labels like Tommy Bahama and Lilly Pulitzer also exceeded its own revenue and earnings guidance in results released on June 12.
Part of the company's success lies in dodging mistakes which have plagued fellow clothing retailers. During Oxford's first-quarterearnings conference call, CEO Thomas Chubb discussed company strategies for avoiding the ongoing risk of selling product in physical stores. Chubb also provided insight into Oxford's brand-specific approaches to successfully disposing of clearance inventory. Let's discuss three of his comments on these topics below.
Our selection of brick-and-mortar locations has been very carefully curated, and across the enterprise, we operate only 230 stores worldwide. The locations we select reflect the very nature of our Tommy Bahama and Lilly Pulitzer brands. They are generally in lifestyle centers that offer beautiful open-air shopping and dining experiences, on streets and boulevards that are destinations in and of themselves, and in resorts which epitomize the essence of our brands.
In addition to the details on Oxford's real estate approach above, Chubb noted that less than half of the company's domestic branded stores are located in regional shopping malls. Oxford aims to place its flagship stores in healthier, higher-end malls that attract more affluent customers. Chubb asserted that Oxford continues to embrace selective physical-store expansion. This will include additional Tommy Bahama Marlin Bar locations (which include a restaurant concept within stores), and westward expansion of Lilly Pulitzer stores, which are now primarily on the East Coast.
While physical stores generate 40% of Oxford's revenue, e-commerce sales constitute the company's fastest-growing channel, and now account for 21% of its consolidated top line. The ability to blend a successful store strategy with online sales has helped management generate the current string of comps growth.
Oxford's Tommy Bahama fashion and furnishings brand is aimed at those who embrace a relaxed beach lifestyle. Image source: Getty Images.
On the wholesale front, we have been equally strategic in taking measures that strengthen our brands for the long term. We have developed meaningful partnerships with specialty retailers, signature stores, and select department stores that demonstrate their ability to support our strong pricing discipline and cadence.
The wholesale channel represents a growth opportunity for Oxford's brands, but it also entails the risk of brand dilution as the company extends product availability outside of its own locations. In addition, management believes that an overreliance on this channel isn't wise, as physical retailers continue to struggle with the explosion of e-commerce.
This caution is particularly strong in the department-store segment of the wholesale channel. Oxford has purposefully reduced its department-store exposure in recent quarters. In fiscal 2017, department-store business accounted for 14% of total company sales; this decreased to 12% in 2018. During the earnings call, Chubb stated that as of the first quarter of 2019, department-store sales now account for just 10% of consolidated net sales.
As with anyone in our business, a successful end-of-season clearance strategy is essential. We focus on ensuring the integrity of our brands with a well-controlled approach that limits the availability of our products at reduced prices. At Tommy Bahama, we operate 130 full-price retail locations and only 37 outlet stores worldwide.
Of Oxford Industries' four segments -- Tommy Bahama, Lilly Pulitzer, Lanier Apparel, and Southern Tide -- the Tommy Bahama and Lilly Pulitzer brands together account for 86% of the manufacturer's $1.1 billion in annual sales. Both brands generategross marginsof roughly 61%, considerably higher than either Lanier's 29% or Southern Tide's 50%.
Given the two segments' importance to the overall earnings picture, Oxford's management exercises tight control over the liquidation of Tommy Bahama and Lilly Pulitzer unsold merchandise.
As Chubb alludes to above, just over a fifth of all Tommy Bahama locations are outlet stores. During the call, the CEO stated that the sole function of these outlet units is to clear out unsold inventory from the previous year.
A different strategy is employed at Lilly Pulitzer, which has developed a very successful e-commerce operation (accounting for 36% of total brand sales annually). Lilly Pulitzer uses its online sales channel to execute flash clearance sales, to unload its discontinued and unsold inventory.
Management sets a minimum gross margin of 40% on these sales. By design, Lilly Pulitzer offers only five flash clearance sale days each year, thus raising anticipation among loyal customers and ensuring enough sales volume to move the targeted merchandise. These five sale days represented 46% of Lilly Pulitzer's e-commerce sales last year.
In sum, while the Tommy Bahama and Lilly Pulitzer divisions employ very different methods for selling outmoded inventory, both approaches are designed to optimize margin and dispose of obsolete product without cannibalizing the organization's bread-and-butter sales.
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Stoke Therapeutics Announces Pricing of Initial Public Offering
BEDFORD, Mass.–(BUSINESS WIRE)–Stoke Therapeutics, Inc., a biotechnology company that is pioneering anew way to treat the underlying cause of genetic diseases by preciselyupregulating protein expression, today announced the pricing of itsinitial public offering of 7,891,110 shares of its common stock at aprice to the public of $18.00 per share. All of the shares are beingoffered by Stoke. The shares are expected to begin trading on The NasdaqGlobal Select Market on June 19, 2019 under the symbol “STOK.” Theoffering is expected to close on June 21, 2019, subject to customaryclosing conditions. The gross proceeds from the offering, beforededucting underwriting discounts and commissions and other offeringexpenses payable by Stoke, are expected to be approximately $142.0million. In addition, the underwriters have been granted a 30-day optionto purchase up to an additional 1,183,666 shares of common stock.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Credit SuisseSecurities (USA) LLC are acting as joint book-running managers for theoffering. Canaccord Genuity LLC is acting as lead manager.
A registration statement relating to these securities has been filedwith the Securities and Exchange Commission and became effective on June18, 2019. The offering is being made only by means of a prospectus. Acopy of the final prospectus relating to the offering, when available,may be obtained from J.P. Morgan Securities LLC, c/o BroadridgeFinancial Services, Attention: Prospectus Department, 1155 Long IslandAvenue, Edgewood, New York 11717, or by telephone: (866) 803-9204, or byemailingprospectus-eq_fi@jpmchase.com;from Cowen and Company, LLC c/o Broadridge Financial Solutions,Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NewYork 11717, or by telephone: (631) 592-5973, or by emailingPostSaleManualRequests@broadridge.com;or from Credit Suisse Securities (USA) LLC, Attention: ProspectusDepartment, Eleven Madison Avenue, 3rd floor, New York, NY 10010, or bytelephone: (800) 221-1037, or by emailingusa.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or thesolicitation of an offer to buy, nor shall there be any sale of thesesecurities in any state or jurisdiction in which such offer,solicitation, or sale would be unlawful prior to registration orqualification under the securities laws of any such state orjurisdiction.
About Stoke TherapeuticsStoke Therapeutics is abiotechnology company that is pioneering a new way to treat theunderlying causes of severe genetic diseases by precisely upregulatingprotein expression to restore target proteins to near normal levels.Stoke aims to develop the first precision medicine platform to targetthe underlying cause of a broad spectrum of genetic diseases in whichthe patient has one healthy copy of a gene and one mutated copy thatfails to produce a protein essential to health. These diseases, in whichloss of approximately 50 percent of normal protein expression causesdisease, are called autosomal dominant haploinsufficiencies. Stoke waslaunched with investments by Apple Tree Partners. Stoke is headquarteredin Bedford, Massachusetts with offices in Cambridge, Massachusetts.
Contacts
Dawn KalmarVice President, Head of Corporate Affairsdkalmar@stoketherapeutics.com781-303-8302 |
Canada reapproves contentious Pacific coast pipeline
TORONTO (AP) — Canadian Prime Minister Justin Trudeau has once again approved the contentious Trans Mountain pipeline expansion that would nearly triple the flow of oil from the Alberta oil sands to the Pacific Coast. The approval Tuesday comes 10 months after the Federal Court of Appeal halted the project and ordered Canada's National Energy Board to redo its review of the pipeline, saying the original study was flawed and lacked adequate consultations with First Nations peoples. Trudeau's government first approved it in 2016, and he was so determined to see it built the government bought the pipeline. The pipeline expansion would triple the capacity of an existing line to ship oil extracted from the oil sands in Alberta across the snow-capped peaks of the Canadian Rockies. It would end at a terminal outside Vancouver, resulting in a seven-fold increase in the number of tankers in the shared waters between Canada and Washington state. It is projected to lead to a tanker traffic balloon from about 60 to more than 400 vessels annually as the pipeline flow increases from 300,000 to 890,000 barrels per day. Trudeau said he expects shovels in the ground this summer, but it faces stiff environmental opposition from the British Columbia government and from activists. The pipeline would allow Canada to diversify oil markets and vastly increase exports to Asia, where it could command a higher price. Canada has the world's third largest oil reserves, but 99 percent of its exports now go to refiners in the U.S., where limits on pipeline and refinery capacity mean Canadian oil sells at a discount. "It's really simple. Right now, we basically have one customer for our energy resources, the United States. As we've seen over the past few years anything can happen with our neighbors to the south," Trudeau said. Trudeau said every dollar Canada earns from the project will be invested in clean energy. The court said the government needed to be better, Trudeau noted. "And you know what?" he said. "They were right." Story continues His government ordered the National Energy Board to look at marine shipping impacts; and there was another round of consultations with Indigenous communities affected by the project. The decision is a blow for indigenous leaders and environmentalists, who have pledged to do whatever necessary to thwart the pipeline, including chaining themselves to construction equipment Washington state Gov. Jay Inslee called the Canadian government's decision "alarming and deeply disturbing," and said he stands with the Premier of British Columbia in opposing it. "The costs to our environment and communities are simply too high. This pipeline, if built, will impose significant negative impacts on our coastal communities, increase the risk of oil spills in our shared waters and double down on carbon-intensive fossil fuels at a time when world leaders need to double down on clean energy," Inslee said in a statement. "But this expansion is not inevitable." Many indigenous people see the 620 miles (1,000 kilometers) of new pipeline as a threat to their lands, echoing concerns raised by Native Americans about the Keystone XL project in the U.S. Many in Canada say it also raises broader environmental concerns by enabling increased development of the carbon-heavy oil sands. New Alberta conservative Premier Jason Kenney said his government appreciates the second federal cabinet approval of the project. "We need to get a fair price for our country's energy to create good jobs & pay for public services," Kenney tweeted. "Approval is not construction. So now let's get it built!" Analysts have said China is eager to get access to Canada's oil, but largely gave up hope a pipeline to the Pacific Coast would be built. |
Some Link Administration Holdings (ASX:LNK) Shareholders Are Down 30%
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For many investors, the main point of stock picking is to generate higher returns than the overall market. But if you try your hand at stock picking, your risk returning less than the market. Unfortunately, that's been the case for longer termLink Administration Holdings Limited(ASX:LNK) shareholders, since the share price is down 30% in the last three years, falling well short of the market return of around 42%. The falls have accelerated recently, with the share price down 27% in the last three months.
View our latest analysis for Link Administration Holdings
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
Link Administration Holdings became profitable within the last five years. That would generally be considered a positive, so we are surprised to see the share price is down. So given the share price is down it's worth checking some other metrics too.
Revenue is actually up 22% over the three years, so the share price drop doesn't seem to hinge on revenue, either. It's probably worht worth investigating Link Administration Holdings further; while we may be missing something on this analysis, there might also be an opportunity.
The graphic below shows how revenue and earnings have changed as management guided the business forward. If you want to see cashflow, you can click on the chart.
We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. So it makes a lot of sense to check out what analysts think Link Administration Holdings willearn in the future (free profit forecasts).
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Link Administration Holdings, it has a TSR of -21% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted thetotalshareholder return.
Over the last year, Link Administration Holdings shareholders took a loss of 18%, including dividends. In contrast the market gained about 11%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Shareholders have lost 7.7% per year over the last three years, so the share price drop has become steeper, over the last year; a potential symptom of as yet unsolved challenges. We would be wary of buying into a company with unsolved problems, although some investors will buy into struggling stocks if they believe the price is sufficiently attractive. If you want to research this stock further, the data on insider buying is an obvious place to start. You canclick here to see who has been buying shares - and the price they paid.
Link Administration Holdings is not the only stock that insiders are buying. For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Bella Thorne 'Saddened and Displeased' by Whoopi Goldberg's Response to Release of Nude Photos
Bella Thorne says she’s “saddened and displeased” by Whoopi Goldberg ‘s response to her releasing her own nude photos in an attempt to take power back from an alleged hacker. On Monday’s episode of The View , Goldberg, 63, did not praise Thorne’s decision, but seemingly blamed Thorne, 21, for taking nudes in the first place. “If you’re famous, I don’t care how old you are. You don’t take nude pictures of yourself,” Goldberg said on the show as co-host Sunny Hostin defended the Famous in Love star. “It just saddens me that these kids have to go through this,” Hostin, 50, said. “For someone to extort her or threaten her with posting these pictures, it’s terrible.” Goldberg, however, had little sympathy. “Once you take that picture it goes into the cloud and it’s available to any hacker who wants it, and if you don’t know that in 2019 that this is an issue, I’m sorry. You don’t get to do that,” Goldberg said. BELLA THORNE POSTS NUDE PICS TO THWART HACKER: Actress Bella Thorne said she took her “power back” by sharing nude photos of herself after blackmailers threatened to leak them – the co-hosts discuss if this was the right move. https://t.co/1091s9Fn2d pic.twitter.com/VqFXmggPle — The View (@TheView) June 17, 2019 Thorne addressed Goldberg’s sentiments on her Instagram Stories on Tuesday, writing in a note, “Dear whoopi, I have loved u for so long but honestly I’m so displeased and saddened by your response to my leek [sic]. Blaming girls for taking the photo in the first place? Is sick and honestly disgusting.” “So what a girl can’t send her boyfriend that she misses photos of her that are sexy?” Thorne continued. “Things he’s already seen? I as a women [sic] should be so scared walking around my home, being on my phone, doing anything?” Story continues “Is that what u want our women to be like? Scared of the masses for their sexuality?? Is that what u want? I don’t. I’m offended for anyone out there who has ever taken a sexy photo. I am offended for Jennifer Lawrence who feels publicly raped. I am offended for every person who has committed suicide for someone leaking their nudes. Ur view on this matter is honestly awful and I hope u change ur mind set as u are on a show talking to young girls,” Thorne wrote. Bella Thorne | Bella Thorne/Instagram RELATED: Bella Thorne Spotted Kissing New Guy Days After Announcing Split from Rapper Mod Sun The singer also revealed in a different post that she was “supposed to go on The View ,” but has since changed her mind as she doesn’t “feel like being beaten down by a bunch of older women.” Thorne later posted a video of herself breaking down into tears over Goldberg’s words, saying, “I’m not going to lie, I want to say I feel pretty disgusting, you know, I feel pretty disgusting.” “Whoopi, now that everyone’s seen my s—, I hope you’re so f—ing happy.” She then begins crying uncontrollably. “I can only imagine all the kids who have their s— released and then they commit suicide. You’re so crazy for thinking such terrible things on such an awful situation,” she said. Bella Thorne | Bella Thorne/Instagram “Shame on you Whoopi,” she continued. “Shame on you for putting that public opinion out there like that for every young girl to think that they’re disgusting for even taking a photo like that. Shame on you.” A rep for Goldberg did not immediately respond to PEOPLE’s request for comment. On Saturday, Thorne sent a personal message to her alleged nude photo hacker by reposting the explicit photos that had been used to expose her on her own Twitter page. Along with three angry face emojis, Thorne wrote, “F— u and the power u think you have over me. I’m gonna write about this in my next book,” in a tweet which featured several of the hacked photos. The tweet also featured a snapshot of a message she wrote to her fans following the photo hack where she admitted to feeling exposed and “gross.” Bella Thorne RELATED: Bella Thorne Slams Ex Mod Sun as Press ‘Hungry’ In Twitter Feud “Yesterday as u all know, all my s— was hacked. For the last 24 hours I have been threatened with my own nudes and I feel gross, I feel watched, I feel someone has taken something from that I only wanted one special person to see,” the star’s message began. But despite feeling violated, Thorne made it clear that she was not going to let the hacker’s actions faze her. “For too long I let a man take advantage of me over and over and I’m f—ingsick of it,” she said. “I’m putting this out because it’s MY DECISION NOW U DON GET TO TAKE ANOTHER THING FROM ME.” |
Asian Stocks Rise as Trump Confirms Meeting with Xi
Investing.com - Asian stocks rose in morning trade on Wednesday after U.S. President Donald Trump confirmed he would be meeting his Chinese counterpart Xi Jinping next week to discuss trade-related issues.
China’s Shanghai Composite and the Shenzhen Component gained 1.5% and 2.0% respectively by 10:34PM ET (02:34 GMT).
Trump tweeted that he will meet Xi at the G-20 summit next week, adding that he had a “very good” phone conversation with the Chinese president.
“Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting,” Trump said on Twitter.
Hong Kong’s Hang Seng Index jumped 2.4%. The city’s chief executive Carrie Lam apologized on Tuesday after two mass protests this month over a highly controversial extradition bill. However, the leader refused to step down or officially withdraw the bill.
Multiple local reports said protesters have vowed to continue hitting the streets until she resigns and withdraws the bill completely. Lam has previously said the bill is now suspended and there is no timeline to revive it again.
Japan’s Nikkei 225 climbed 1.7%. The Bank of Japan is widely expected to keep its stimulus unchanged in today’s meeting. Last week, BoJ Governor Haruhiko Kuroda told Bloomberg in an interview that no policy action is needed now, although the central bank still has room for big stimulus.
Meanwhile South Korea’s KOSPI rose 1.0%.
Down under, Australia’s ASX also rose 1.0%.
Overnight, Wall Street closed higher, with the Dow gaining more than 1%. The U.S. Federal Reserve will conclude its two-day meeting later in the day.
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Teacher Patricia Stoops dies while rock climbing in Yosemite
A special-needs teacher and philanthropist died in Yosemite National Park while rock climbing when something went “horribly wrong.” Patricia “Trish” Stoops, 57, a teacher at Norman N. Glick Middle School in Modesto, Calif., died of blunt force trauma to the head while rappelling on June 8th, according to KCRA . A representative for the Association of National Park Rangers did not return Yahoo Lifestyle’s information request. The Los Angeles Times reports that Trish’s brother Michael Stoops wrote on a website for climbers, “She had taken the lead to get the team down before dark and something, what exactly still isn’t clear, went horribly wrong. She did not survive the fall, unfortunately. No one else was injured.” Patricia Stoops, a skilled rock climber, died in Yosemite National Park in June. while rappelling. (Photo: Courtesy of Jamey Johnson-Olney) Members of The Mountain Project shared loving memories of the teacher with a “heart of gold” on a tribute page. “I never met a climber more dedicated to supporting our tribe than Trish. She selflessly gave of her time, leading skills, friendship, and humor to anyone in the vicinity. Funny, spontaneous, gregarious, and sincere, Trish made an impression on anyone she met.” “She was a unique human being, spreading good vibrations around the Universe,” wrote a fellow climber. Another said, “Goodbye to my dear 20 year climbing friend. I will miss your adventures spirit. You were sometimes scary, always unique, inclusive, and kind. Always ready to stand up for the underdog and to help people in need.” Trish’s friend Jamey Olney, also a Glick teacher, wrote a loving Facebook post calling her “brave, brash, funny, smart, and loved everyone she came in contact with.” He added, “She was a living, breathing example of a life lived abundantly and joyfully.” Olney and Trish, who gave up a lucrative career as an architect to build houses for Habitat for Humanity, co-founded The H.O.P.E. (Helping Other People Everywhere) Project to take their students on service trips and encourage kindness. They distributed meals to people affected by last year’s Camp Fire in Paradise, California, and will take a July 26th trip to Mexico to build a home for a need-based family. “I'd like to thank our friends and family and especially the climbing community for your support of this project. We are going to see this project to completion and honor the life and legacy of an angel here on earth,” he said. Story continues Olney sent Yahoo Lifestyle a GoFundMe page that Stoops penned, to pay for the children’s three-day excursion, which has raised $2,000. Trish was so respected in the climbing community that according to an obituary , a route in Arizona will be retitled in her name. “Next time you're in the hills, go climb it, and know that Trish was there,” a friend shared on The Mountain Project . “Our family is blown away by this outpouring of love and respect for Trish,” Michael wrote on The Mountain Project . ”....We want the climbing community to know that following a family service for Trish back in Michigan at the end of June, we will be having a service for her in the Modesto area where her ashes will be spread…” Read more from Yahoo Lifestyle: Texas Couple Dies While on Vacation in Fiji After Contracting Mysterious Illness Coroner claims woman died of a marijuana overdose College student dies after falling from cliff while taking photos: 'She loved being outdoors' Follow us on Instagram , Facebook and Twitter for nonstop inspiration delivered fresh to your feed, every day. |
Emotional video shows moment color blind high school graduate sees color for the first time: 'It's so pretty'
The first thing that Goshuami “Gigi” Valoy saw when she put on color-blind corrective glasses was green — the vibrancy of the grass and trees — and later, the brilliance of red in stop signs and flowers. In a June 14th video capturing the emotional moment, the color-blind Pennsylvania teen cried as she took in the full spectrum of colors for the very first time. “The world was just so much brighter and more full of life than I had seen it. I didn’t realize that everything was this pretty,” Valoy tells Yahoo Lifestyle. Because color-blindness is more common in men than women , Valoy wasn’t diagnosed with red-green color blind deficiencies until the fourth grade. For the past 17 years, Valoy says she has lived in a “black and white movie,” with red and greens appearing gray or black. “Where those colors are there’s just nothing at all. I grew up missing out on a lot of things that I didn’t even know about,” the recent Louis E. Dieruff High School graduate says. Before she was diagnosed, Valoy says she struggled with certain topics in school and would even paint the ocean purple. But not anymore. The transformative moment all started with a public speaking class Valoy took at Penn State Lehigh Valley as a part of its Pathway to College and Career Readiness program. After making an informative speech to her class about growing up with color blindness, her professor, Sandy Kile, was inspired to teach the class a more important life lesson. “As she was doing the speech, she mentioned that they had corrective glasses but they were too expensive,” Kile tells Yahoo Lifestyle, adding that color blind glasses can cost up to $350. “I try to teach these kids that they can do anything, they just have to reach out and ask for it.” Recent high school graduate Gigi Valoy poses with her professor, Sandy Kiles, and some classmates after trying on color blind corrective glasses for the first time. (Credit: Sandy Kiles) Kile decided the class would reach out to companies that made corrective glasses to see if they would donate a pair to Valoy. While Kile encouraged Valoy to write a narrative about living in a world with mostly shades of grey and brown, her classmates wrote accompanying statements about why she needed the glasses. Story continues “I didn’t have any hopes,” Valoy says. “Professor Kile truly believed it was going to happen and we were all unsure.” Valoy says she wasn’t surprised when the first company turned down their request. Then, the class received a reply from the founder of Pilestone Inc ., a Philadelphia-based company that designs the glasses, offering her and six other community members his glasses for free. “I started this business by trying to help people. This is another chance for me to help," founder Ben Zhuang told ABC6 , who delivered the glasses himself. Kile, some school guidance counselors, and a couple of friends brought Valoy outside to test out the glasses for the first time. “When I saw the [colors] and that they were right in front of me the whole time, it was emotional,” Valoy recalls of the life-changing moment. The entire moment was captured on video as Valoy turned around to see the expanse of green grass around her and Kile’s bright red pants. “It’s so pretty,” Valoy said in the video, as she burst into tears. “Is that red?” Valoy says she’s grateful for Kile and her classmates for their efforts in helping her see the world in a way that she didn’t think was possible. But Kile says that being able to help change Valoy’s life is something she will “never forget for the rest of my life.” “I’m 62, I’ve been teaching at the college level for 30 years. And just attempting to do something for her and being able to be part of that transformation for her, I will never forget that for the rest of my life,” says Kile. Now that Valoy is seeing the world in a new light, she has a bucket list of things she wants to see and do with her new color-blind glasses before she goes off to Gannon University in Erie to study psychology. “I’m looking forward to seeing the sunset and the pinks and reds on Valentine’s Day,” says Valoy, adding that she’s excited to see stop signs while driving and the holiday cheer around Christmas. “You truly don’t know what you’re missing out on until you see it.” Read more from Yahoo Lifestyle: • Viral high school valedictorian speech calls out teachers, staff for ‘alcoholism’ and ‘negligence’ • Valedictorian’s moving speech honoring migrant farm worker parents goes viral • Graduate student finishes her thesis with proud mama photos: 'Longest labor ever' Follow us on Instagram , Facebook , and Twitter for nonstop inspiration delivered fresh to your feed, every day. |
President Trump Announces His 2020 Re-Election Campaign — Watch Video
President Donald Trump officially announced the launch of his 2020 re-election campaign at a Tuesday-night rally at the Amway Center in Orlando, Fla. The announcement and speech that followed (watch embedded video above) was mostly a formality, given that Trump filed notice of his re-election committee with the Federal Election Commission on the day of his inauguration, Jan. 20, 2017. Related stories The Mueller Report: Watch AG William Barr's Press Conference Alec Baldwin Changes Tune on Being 'So Done' as SNL's Trump Trump Calls On FBI, DOJ to Investigate Jussie Smollett Case: 'It Is an Embarrassment to Our Nation' Why choose Orlando for this milestone rally? In the 2016 election, Trump won Florida — the biggest swing state in the nation — with 49 percent of the vote, which marked just a 1.2 percent margin over Democratic contender Hillary Clinton. Central Florida, in which Orlando is situated and the home to almost half of the registered voters in the state, is stubbornly and famously independent. President Trump expected a SRO crowd at the Amway Center, which holds 20,000 but was only permitted to admit 17,000 for this event. Amid reports that 100,000 of his supporters had requested tickets, jumbo TV screens and food trucks had been planned to accommodate those standing outside. All told in the November 2016 election, Trump amassed 304 Electoral Votes to Clinton’s 227. (Clinton, for what it is worth, led in the popular vote with 48.2 percent.) Sign up for TVLine's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . |
Do Insiders Own Shares In Evans Dixon Limited (ASX:ED1)?
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Every investor in Evans Dixon Limited (ASX:ED1) should be aware of the most powerful shareholder groups. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Warren Buffett said that he likes 'a business with enduring competitive advantages that is run by able and owner-oriented people'. So it's nice to see some insider ownership, because it may suggest that management is owner-oriented.
Evans Dixon is a smaller company with a market capitalization of AU$187m, so it may still be flying under the radar of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions don't own many shares in the company. Let's take a closer look to see what the different types of shareholder can tell us about ED1.
See our latest analysis for Evans Dixon
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
Since institutions own under 5% of Evans Dixon, many may not have spent much time considering the stock. But it's clear that some have; and they liked it enough to buy in. If the business gets stronger from here, we could see a situation where more institutions are keen to buy. It is not uncommon to see a big share price rise if multiple institutional investors are trying to buy into a stock at the same time. So check out the historic earnings trajectory, below, but keep in mind it's the future that counts most.
Hedge funds don't have many shares in Evans Dixon. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known.
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
It seems insiders own a significant proportion of Evans Dixon Limited. Insiders own AU$58m worth of shares in the AU$187m company. It is great to see insiders so invested in the business. It might be worth checkingif those insiders have been buying recently.
The general public, mostly retail investors, hold a substantial 54% stake in ED1, suggesting it is a fairly popular stock. This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.
It seems that Private Companies own 11%, of the ED1 stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.
It's always worth thinking about the different groups who own shares in a company. But to understand Evans Dixon better, we need to consider many other factors.
I always like to check for ahistory of revenue growth. You can too, by accessing this free chart ofhistoric revenue and earnings in thisdetailed graph.
Of coursethis may not be the best stock to buy. So take a peek at thisfreefreelist of interesting companies.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Boris Johnson builds lead in race to be UK prime minister
LONDON (AP) — Former Foreign Secretary Boris Johnson increased his lead in the race to become Britain's next prime minister Tuesday in a Conservative Party vote that eliminated one of his rivals and enabled upstart candidate Rory Stewart to defy expectations by remaining in the contest. Johnson, a flamboyant former foreign secretary, won 126 of the 313 votes cast by Conservative lawmakers in their second-round of balloting. The vote left five contenders vying to be the Tory leader who will succeed Theresa May as prime minister, and all but guaranteed Johnson would be one of the two candidates competing in a runoff decided by rank-and-file party members as well as elected politicians. Jeremy Hunt, who followed Johnson as foreign secretary in May's government, had the next-highest number of votes. Hunt Environment Secretary Michael Gove, Home Secretary Sajid Javid and Stewart all trailed far behind in what is now effectively a race for second place. Ex-Brexit Secretary Dominic Raab got only 30 votes, three short of the threshold needed to go through to the next round. After lawmakers' votes were counted, Johnson and the other remaining candidates traded barbs about Brexit and their plans for the economy, the welfare system and the environment in a messy, fractious televised debate. Johnson was accused of trying to dodge scrutiny after he skipped an earlier debate and a question session with journalists. Tory lawmakers will vote again Wednesday and Thursday, eliminating at least one candidate each time. The final two contenders will go to a postal ballot of all 160,000 Conservative Party members nationwide. The winner who will replace May is due to be announced in late July. May stepped down as party leader earlier this month after failing to secure Parliament's approval for her Brexit deal. She is leading the government until her successor is picked. All the contenders vow they will succeed where May failed and lead Britain out of the European Union, though they differ about how to break the country's Brexit deadlock. Story continues Johnson insists the U.K. must leave the bloc on the rescheduled date of Oct. 31, with or without a divorce deal to smooth the way. He said during the BBC debate there would be a "catastrophic loss of confidence in politics" if Brexit was delayed any further. The withdrawal, originally set for March 29, was pushed back after May sought two extensions from the EU. The EU says it won't reopen the Brexit agreement it struck with May's government, which has been rejected three times by Britain's Parliament. Many economists and businesses say a no-deal exit would cause economic turmoil by ripping up the rules that govern trade between Britain and the EU. Johnson and Javid both said they would opt to leave the EU without an agreement rather than delay Brexit beyond Oct. 31. Gove and Hunt both said they would support another postponement if needed to secure a deal, but only for a short time. Stewart said "there would never be no-deal" if he were prime minister because it would be too damaging to the economy. While Johnson is odds-on favorite to become Britain's next leader, some in the party still have doubts about him. He is admired by many Conservatives for his ability to connect with voters, but others mistrust him for his long record of misleading and false statements, verbal blunders and erratic performance in high office. During the country's 2016 EU membership referendum, Johnson campaigned on the inaccurate claim that Britain sends the EU 350 million pounds ($444 million) a week. Last year he faced criticism for comparing Muslim women who wear face-covering veils to "letter boxes." Pressed about his language during Tuesday's debate, he said "insofar as my words have given offense over the last 20 or 30 years ... I am sorry for the offense that they have caused." Hunt and Gove are both considered experienced and competent ministers, but unexciting. Gove seems to have shrugged off the revelation that he used cocaine two decades ago. Javid, the son of Pakistani immigrants, says he offers a common-man alternative to private school-educated rivals like Johnson and Stewart, although he was a highly paid investment banker before entering politics. Stewart has the most momentum, almost doubling his first-round tally, while Hunt and Gove barely increased their totals. Stewart, Britain's minister for international development, calls himself the "anti-Boris," the pragmatist rival to populist Johnson. He has energized the contest with a combination of plain-speaking and quirkiness. A former diplomat who once walked across Afghanistan and was a deputy provincial governor in Iraq after the 2003 U.S.-led invasion, Stewart is also the only contender regularly asked whether he has been a British spy. He denies it — but notes that former spies are barred by law from disclosing their covert pasts. Stewart claimed to be the only candidate facing up to political reality, arguing the only way to leave the EU was to get Parliament to approve May's unpopular Brexit deal. "We are in a room with a door, and the door is called Parliament," he said. "And I am the only one trying to find the key to that door. Everybody else is staring at the walls yelling 'Believe in Britain." Retorted Gove: "We've run into that door three times already, Rory. We've got to have a different route out." ___ Danica Kirka in London contributed to this story. ___ Follow AP's full coverage of Brexit and the Conservative Party leadership race at: https://www.apnews.com/Brexit ___ This story corrects original Brexit date to March 29. |
Should You Be Adding Jyothy Laboratories (NSE:JYOTHYLAB) To Your Watchlist Today?
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For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. But as Peter Lynch said inOne Up On Wall Street, 'Long shots almost never pay off.'
In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies likeJyothy Laboratories(NSE:JYOTHYLAB). Now, I'm not saying that the stock is necessarily undervalued today; but I can't shake an appreciation for the profitability of the business itself. While a well funded company may sustain losses for years, unless its owners have an endless appetite for subsidizing the customer, it will need to generate a profit eventually, or else breathe its last breath.
View our latest analysis for Jyothy Laboratories
If a company can keep growing earnings per share (EPS) long enough, its share price will eventually follow. Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. Who among us would not applaud Jyothy Laboratories's stratospheric annual EPS growth of 38%, compound, over the last three years? Growth that fast may well be fleeting, but like a lotus blooming from a murky pond, it sparks joy for the wary stock pickers.
I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. Jyothy Laboratories maintained stable EBIT margins over the last year, all while growing revenue 3.7% to ₹18b. That's progress.
In the chart below, you can see how the company has grown earnings, and revenue, over time. Click on the chart to see the exact numbers.
Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want tocheck this interactive graph of professional analyst EPS forecasts for Jyothy Laboratories.
Like that fresh smell in the air when the rains are coming, insider buying fills me with optimistic anticipation. That's because insider buying often indicates that those closest to the company have confidence that the share price will perform well. Of course, we can never be sure what insiders are thinking, we can only judge their actions.
We did see some selling in the last twelve months, but that's insignificant compared to the whopping ₹624m that the Founder, Moothedath Ramachandran spent acquiring shares. The average price paid was about ₹185.45. The quantum of that insider purchase is both rare and a sight to behold, not unlike an endangered Amur Leopard in the wild.
On top of the insider buying, we can also see that Jyothy Laboratories insiders own a large chunk of the company. In fact, they own 59% of the company, so they will share in the same delights and challenges experienced by the ordinary shareholders. To me this is a good sign because it suggests they will be incentivised to build value for shareholders over the long term. At the current share price, that insider holding is worth a whopping ₹36b. That means they have plenty of their own capital riding on the performance of the business!
Jyothy Laboratories's earnings per share have taken off like a rocket aimed right at the moon. If you're like me, you'll find it hard to ignore that sort of explosive EPS growth. And indeed, it could be a sign that the business is at an inflection point. If that's the case, you may regret neglecting to put Jyothy Laboratories on your watchlist. Of course, just because Jyothy Laboratories is growing does not mean it is undervalued. If you're wondering about the valuation, check outthis gauge of its price-to-earnings ratio, as compared to its industry.
There are plenty of other companies that have insiders buying up shares. So if you like the sound of Jyothy Laboratories, you'll probably love thisfreelist of growing companies that insiders are buying.
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Usain Bolt wants to launch electric scooters in London
Usain Bolt publicising his new mobility company Bolt. Photo: Bolt Mobility An electric bike and scooter company backed by Olympic sprinter Usain Bolt is planning to launch in London — but could face a legal battle over its name. Bolt Mobility, which has raised money from Usain Bolt, said on Wednesday it plans to launch its bikes in the UK and hopes to launch electric scooters soon. The company is meeting MPs and other City officials in London this week to lobby for rule changes that would allow their vehicles on the road. Bolt lets people rent electric bikes and electric scooters through its app, and has even developed a small prototype electric car that can fit through some doorways. To rent a bike, people unlock it through the app and then drop it off wherever they want at the end of the journey. “As an athlete who runs in cities across the world, I’ve seen first-hand the impact that polluted air and overcrowded transport systems have on people’s lives,” Usain Bolt said in a statement. “London’s roads are some of the most congested in Europe — so we see huge potential for the UK to benefit from the micromobility technology that is taking other cities by storm.” However, a rival transportation company with the same name says it plans to challenge Bolt Mobility over copyright. Taxi hailing app Taxify, headquartered in Estonia, recently rebranded as Bolt and operates in the UK and Europe. A spokesperson for Bolt, formerly Taxify, told Yahoo Finance UK: “We have been using the name Bolt since the launch of our electric scooters in Paris last September and hold the trademark for Bolt in Europe as well as our other markets (in total 54 countries). “Obviously, we want to avoid a situation that would create confusion for our customers in Europe and consumers in general, so will be taking necessary steps to make sure our trademark is not infringed in the UK.” Lobbying for change Electric scooter companies such as Lime and Bird have attracted hundreds of millions of dollar in investment in recent years and spread around the world. Bolt Mobility CEO Haynes declined to say how much Bolt had raised or how much Usain Bolt had invested. Story continues Bolt is part of a surge of new “urban mobility” startups around the world. “We realised now people are using Ubers for less than five miles so cars are actually sitting in traffic for a long time,” Haynes told Yahoo Finance UK. These scooter companies have proved popular with users but attracted criticism for cluttering cities and wasting resources. The average scooter lasts just three months in the wild and uses non-recyclable materials. Haynes said the shelf-life for its scooters was two years as Bolt manufactures them itself. She added that the scooters are fully recyclable and batteries are replaceable. Bolt will compete with Lime, which has launched bikes in London, as well as Boris bikes, Freebikes, Uber’s Jump bikes, and Mobikes. “There’s certainly space for different brands, just like cars, there are many cars on the street,” Haynes said. “What makes us different is our design is first and foremost based on safety.” Electric scooters are currently illegal on Britain’s streets, but Haynes told Yahoo Finance UK her team is lobbying for change. “We have to educate. Because it’s a new technology, people don’t know how to match it to their Department of Motor Vehicles. Do they go on sidewalks? Do they go on streets? However the city deems to be acceptable, we’re flexible,” Haynes said. Bolt Mobility was founded in Miami in 2018 and currently operates in 10 US cities. It expanded to Paris, its first international market, in May. ———— Oscar Williams-Grut covers banking, fintech, and finance for Yahoo Finance UK. Follow him on Twitter at @OscarWGrut . Read more: Facebook's Libra could spark 'mass adoption' of crypto Facebook hasn't told us: why launch a cryptocurrency? Bitcoin hits 13-month high as Facebook prepares to launch cryptocurrency Hong Kong protests may hit luxury brands like Burberry and Hermes Startup bank Monzo heads to US as monthly sign-ups hit 250,000 Watchdog's full investigation into 'highly damaging' RBS SME scandal published |
The Kids Are Not All Right: Brainstorm Health
Good afternoon, readers.
Suicide has been on the rise in America in recent years. Anda new reportsuggests the trend has hit teenagers especially hard.
Harvard Medical School and Tel Aviv University researchers found that “adolescents are of particular concern” when it comes to the 30% spike in American suicides between 2000 and 2016, “with increases in social media use, anxiety, depression, and self-inflicted injuries.” The researchwas publishedin the medical journalJAMA.
The study authors note that suicide rates rose sharply among both female and male teens and young adults in 2017, reaching their highest levels since 2000 (there was a 21% increase in males aged 15 to 19 dying by suicide between 2016 and 2017 alone).
It’s important to note that a one year spike could ultimately prove to be temporary, and that the figures will settle back into a more conventional trend. But the new research appears to be in linewith earlier reportsof a concerning rise in self-harm and suicidal thoughts among America’s youth.
Read on for the day’s news.
Sy Mukherjee@the_sy_guysayak.mukherjee@fortune.com
1. DIGITAL HEALTHThe Roche app trying to map multiple sclerosis.Drug giant Rochetells FiercePharmaabout its Floodlight Open app to passively collect data from multiple sclerosis patients, including information individual patients’ experience with the disease. It’s a two-pronged approach to mobile health data collection – personalize the information and feedback to patients and their caregivers, but also pool it into a de-identified database that can be used by researchers.(FiercePharma)
2. INDICATIONSIs Allergan headed for a split?Shares of Botox maker Allergan enjoyed a not-too-shabby 4.2% spike in Tuesday trading following a note from influential Evercore ISI analyst Umer Raffat predicting the company will split. Raffat says he believes Allergan will lay out the plans and timeline for a split in the coming months after persistent investor concerns over the drug giant’s pipeline and the future of Botox in a crowded competitive field.
3. THE BIG PICTUREPreschool obesity ticks downward.And now for a bit of good news: The downtick in childhood obesity rates may be a persistent trend, with new data showing that it edged down to 14% in 2016 compared with 16% in 2010. Childhood obesity, especially among the youngest, is a critical predictor of future obesity and its associated chronic health problems.(NBC News)
4. REQUIRED READINGFacebook Announces ProjectLibra,Its Wildly Ambitious Plan to Bring Crypto to the Masses,by Jeff John RobertsCommentary: Cashless Isn’t Just Classist – It’s Bad for Business,by Hikmet ErsekGoogle Pledges $1 Billion to Develop 20,000 New S.F. Bay Area Homes Over Next Decade,by Kevin KelleherExclusive: Fintech Startup Tally Raises $50 Million to Automate People’s Finances,by Robert HackettProduced by Sy Mukherjee@the_sy_guysayak.mukherjee@fortune.comFind past coverage. Sign up for other Fortune newsletters. |
Blackstone chief donates $188 million to Oxford University
LONDON (Reuters) - The head of private equity firm Blackstone has pledged 150 million pounds ($188.37 million) to Oxford University, the biggest single donation in its history, to fund a centre for humanities that would also house an institute to study the ethics of artificial intelligence.
Stephen Schwarzman, chairman, chief executive and co-founder of Blackstone which has about $500 billion in assets, said the donation would fund the Schwarzman Centre that would support programmes ranging from history to music.
The centre will also house a new Institute for Ethics in Artificial Intelligence (AI).
"For nearly 1,000 years, the study of the humanities at Oxford has been core to Western civilisation and scholarship. We need to ensure that its insights and principles can be adapted to today's dynamic world," Schwarzman said in a statement.
The university said the centre would consider the impact of AI, which could "challenge the very nature of what it means to be human and transform most aspects of our lives".
Tim Berners-Lee, inventor of the World Wide Web, said in the statement: "If AI is to benefit humanity we must understand its moral and ethical implications. Oxford with its rich history in humanities and philosophy is ideally placed to do this."
About a quarter of Oxford University students study humanities, including modern languages, theology, philosophy and English.
New facilities funded by the donation would include a 500-seat concert hall and a 250-seat auditorium.
Schwarzman has also donated to U.S. universities, including $350 million to the Massachusetts Institute of Technology and $150 million to Yale. He founded a $575 million international scholarship programme in 2013 at China's Tsinghua University.
($1 = 0.7963 pounds)
($1 = $1.0000)
(Reporting by Simon Jessop; Editing by Edmund Blair) |
Oracle's Cloud: How This Will Effect Tomorrow Earnings
Oracle ORCL is releasing its May quarter (fiscal Q3) earnings after the bell tomorrow. Analysts are estimating an all-time high EPS of $1.07 a share along with sales of $10.95 billion, representing growth of 8% and negative 2.7% respectively. ORCL has dropped on the last 7 consecutive earnings releases even after reporting beats on both top and bottom-lines.
Restructuring
Oracle is in the midst of restructuring its business model from an on-premise software licensing company to a one that is focused on cloud-based subscriptions and services. This transition has been done almost entirely inorganically through a frenzy of acquisitions. Oracle acquired 9 different companies last year, with a total of 53 acquisitions since 2012, all projected to advance its cloud product offering. The cost of this business model upheaval has diminished the firm’s top-line growth in the short term but is expected to post increasingly robust financials as the businesses acclimate and synergies are leveraged.
This is a smart move for Oracle, in the long run, to transition away from their archaic on-premise software business model. Cloud software delivery is much more efficient and less costly than the older model. More and more businesses are using cloud-based software and Oracle needs to hold its current market position amid its transition to have a fighting chance of leaving a footprint in this overly competitive space.
Subscription based cloud services are extremely lucrative revenue streams that provide reoccurring sales indefinitely if the product offering satisfies the consumer’s needs. If Oracle is able to to expand this model successfully, I believe that ORCL could see some large upsides to come.
Key competitors include Adobe ADBE, Microsoft MSFT, and Salesforce CRM, which are all growing at a significantly faster rate than Oracle. ORCL needs to quickly get its act together if it’s going to stay competitive in this space. ORCL has far underperformed these competitors when examining its 5-year performance but is in the middle of the pack for 52-week and year-to-date performance.
Valuation
Oracle’s poor performance compared to its competitors is reflected in its discounted valuation. ORCL is trading at a forward P/E of 13.9x considerably less than the computer software industry which is being valued at an average P/E of 27.5x.
ORCL is being valued considerably below the industry on every valuation multiple but that does not mean that this stock is a value buy. This is only an indication of low growth in an industry where growth is almost synonymous with cloud computing.
Adobe Earnings Release
Adobe, one of Oracle’s key competitors, released earnings this afternoon and wowed investors posting the strongest results since the company’s inception. Adobe illustrated 25% top-line growth driven primarily by its cloud-based subscriptions. ADBE is up over 2.5% in after-hours trading. This could be a sneak peek into what to expect from ORCL tomorrow with its other key competitors also beating both top and bottom-line estimates.
Take Away
Cloud tech has been performing better than expected this year but this is not indicative of strong performance by Oracle who has consistently lagged behind the category. Look for big growth numbers in its revenue segment “Cloud services and license support” which is expected to drive Oracle’s sales moving forward.
Oracle is still in a restructuring phase with its massive number of acquisitions just beginning to integrate into Oracle’s operations. Look for restructuring costs to be decreasing as this process finalizes and hopefully shifts Oracle’s top-line back into robust growth on pace with its peers.
Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of+98%,+119%and+164%in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportMicrosoft Corporation (MSFT) : Free Stock Analysis Reportsalesforce.com, inc. (CRM) : Free Stock Analysis ReportOracle Corporation (ORCL) : Free Stock Analysis ReportAdobe Systems Incorporated (ADBE) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Twice Burned: With Facebook Libra, Winklevoss Brothers Get Overshadowed by Zuckerberg Yet Again
Can a Libra and two Geminis get along? How aboutFacebookand the Winklevoss twins?
Back in the day, Mark Zuckerberg’s hunky Harvard classmates claimed the Facebook CEO stole their idea for the social network when he was just a nerdy undergrad. Now, Facebook’s grand plan for a new digital currency calledLibracould bring the three men together again—though it remains to be seen whether there’ll be enough drama to warrant a sequel toThe Social Network, the 2010 film based on the story of Facebook’s founding.
Tyler and Cameron Winklevoss have busied themselves since their Harvard days—they’re 37 now, while Zuckerberg is 35—investing heavily in Bitcoin, currently the best-known “cryptocurrency.” With Libra, though, Facebook is hoping to change that, and so once again Zuckerberg seems to be one-upping the “Winklevii” in their own backyard.
Perfect for a dramatic retelling, right? But how about a rom-com, or at least a bromance? The Winklevoss twins, it turns out, havealso founded Gemini, a cryptocurrency exchange based in New York City. The idea behind the exchange, started in 2014, was to create a secure ecosystem that is “free of hacking, fraud, and security breaches,” to move cryptocurrency out of Wild West days and into something that’s regulated, secure, and used by regular people.
Facebook’s Libra, meanwhile, hopes to be the first Bitcoin-like currency with mass appeal, thanks to its backing by familiar corporations like Uber,Visa, andMastercard. Is there room for some cooperation? Or will the twins get burned again?
In aninterview with CBS Newson Sunday, Cameron Winklevoss said he was not worried about Libra’s launch. “There’s so much pie to grow, I mean, at this point, we need to be frenemies,” he said.
Representatives for Facebook and Gemini did not immediately return messages for comment on Tuesday.
—Does the SEC’s ICO lawsuit against Kikgo too far?
—Howcord-cutting is driving big changesacross the media landscape
—Andreessen Horowitz’s Scott Kupordemystifies the VC funding process
—Tobreak up Facebook, here’s where the government might start
—Listen to our new audio briefing,Fortune500 Daily
FollowFortuneon Flipboardto stay up-to-date on the latest news and analysis. |
PG&E settles California fire claims with local governments for $1 billion
By Jim Christie
SAN FRANCISCO (Reuters) - PG&E Corp will pay $1 billion as part of its bankruptcy reorganization to more than a dozen local governments in California struck by wildfires in recent years, the company and lawyers for the governments said on Tuesday.
Payments to the local governments will settle claims from lawsuits put on hold by PG&E's bankruptcy and are separate from the thousands of individual claims stemming from wildfires that the company expects will be filed against it during the bankruptcy period.
PG&E will not be able to make settlement payments until it receives court approval for a Chapter 11 bankruptcy reorganization plan.
San Francisco-headquartered PG&E filed for Chapter 11 protection in January anticipating $30 billion in liabilities from wildfires in 2017 and 2018 blamed on its equipment.
The local governments said in a filing in March that their claims could top more than $2.5 billion for fire-related damage to roads, bridges, sidewalks, road signs and signals, public landscaping and water systems.
The governments include the city of Paradise, which was leveled by November's Camp Fire in California deadliest and most destructive wildfire of modern times.
Paradise settled for $270 million, John Fiske, a lawyer for the governments from Baron & Budd, told Reuters.
A Paradise park district and Butte and Yuba Counties also settled claims stemming from the Camp Fire, for a combined $312 million.
The city of Santa Rosa and Sonoma and Napa Counties, which were hard hit by blazes in 2017, are among the localities that settled.
Other governments that settled 2017 fire claims include the cities of Sonoma and Napa as well as Lake, Mendocino, Nevada and Yuba Counties and some special districts.
The governments that settled the 2017 fire claims will receive a total of $415 million. How the money will be allocated has not been decided yet, Fiske said.
A water district in Calaveras County settled claims arising from a 2015 fire. It will receive $3 million.
"This is an important first step toward an orderly, fair and expeditious resolution of wildfire claims and a demonstration of our willingness to work collaboratively with stakeholders to achieve mutually acceptable resolutions," PG&E said in a statement provided to Reuters.
"We hope to continue making progress with other stakeholders," PG&E added.
(Reporting by Jim Christie; editing by Grant McCool and G Crosse) |
Xi says China backs N.Korea's efforts to solve Korean Peninsula issue -Rodong Sinmun
SEOUL, June 19 (Reuters) - Chinese President Xi Jinping said that China supports North Korea's "correct direction" in resolving the issue of the Korean peninsula politically, according to North Korean state newspaper Rodong Sinmun on Wednesday.
In an front page Rodong Sinmun op-ed, Xi said that "we will actively contribute to peace, stability, development and prosperity in the region by strengthening communication and coordination with the Democratic People's Republic of Korea," according to the newspaper. The Democratic People's Republic of Korea is North Korea's official name.
Xi is set to visit Pyongyang on Thursday and Friday, making him the first Chinese leader to visit in 14 years.
(Reporting by Joyce Lee Editing by Shri Navaratnam) |
Buy & Hold Disney (DIS) Stock at New Highs on Streaming TV Future?
Shares of Disney DIS touched a new 52-week intraday trading high Tuesday as part of broader market optimism. Yet, aside from possible positive U.S.-China trade war news, Disney is a stock that Wall Street is laser-focused on as the entertainment powerhouse prepares to launch its streaming TV platform in the fall. Recent News Imperial Capital analysts on Monday downgraded Disney stock to ‘in-line’ from ‘outperform,’ citing valuation concerns. Analyst David Miller kept his $147 per share price target for DIS, which marked a roughly 4% upside to Monday’s closing price. This move came just a few days after Morgan Stanley MS analysts came out with a bullish view regarding Disney’s streaming future. Morgan Stanley’s Benjamin Swinburne late last week raised his Disney price target to $160 from $135 and maintained a ‘buy’ rating. The bullish outlook is based, in part, on projections that Disney streaming will reach more than 130 million subscribers globally by 2024, as it challenges Netflix NFLX, Amazon Prime AMZN, and soon-to-be-competitors Apple AAPL and AT&T T. This growth is projected to come across the firm’s three core streaming platforms: ESPN+, the soon-to-be-launched Disney+, and Hulu—which Disney owns a majority of and now effectively controls after Comcast CMCSA agreed to sell its ownership stake within the next five years. Swinburne based his bullish outlook on a quicker than projected Disney+ international roll out. With that said, the Morgan Stanley analyst projects that Disney’s streaming division will be larger in the U.S. at a projected 95 million by 2024, compared to an expected 79 million for Netflix. However, NFLX is projected to have 280 million global users within five years after it officially closed Q1 with roughly 149 million, up 25% from Q1 2018. Outlook These two analyst notes help provide investors with a solid picture of where Disney is at the moment. Imperial Capital warned of increasingly stretched valuations. Yet it is Disney’s climbing stock price that has helped its earnings multiple look somewhat out of whack. Disney stock is now up roughly 28% in 2019 to crush the S&P 500’s 14% climb. DIS got a big boost after the company detailed some of its Disney+ streaming plans in mid-April. Disney+ will launch in November at $6.99 a month and feature both new and old movies and TV shows from Disney, Pixar, Star Wars, Marvel, and National Geographic. It is these brands that have sparked bullish analyst outlooks and are likely to attract consumers, especially since it will cost much less than Netflix, where a premium plan runs $15.99 a month. “Stepping back and admittedly taking the long view, investing in Disney shares is a play on the durability of its IP,” Morgan Stanley’s Swinburne wrote. Story continues “Encouragingly, consumers are voting with their wallets today, spending an estimated $15 [billion] to $20 billion a year for movies and TV product that will ultimately make its way to Disney+.” On top of that, Disney’s $71 billion deal to buy key Fox FOXA entertainment assets helped it initially grab control over Hulu, which now boasts roughly 28 million users. The purchase will also bolster its streaming, box office, and parks future. Meanwhile, ESPN+ accumulated over 2 million subscribers in roughly a year despite not offering the sports giant’s biggest offerings. Instead, ESPN’s stand-alone streaming sports offering, which costs $4.99 per month, is focused on expansion through secondary sports such as UFC and soccer. But one day somewhat soon there will likely be a completely detached version of ESPN that features all of the core content and more. Looking ahead, our current Zacks Consensus Estimate calls for Disney’s Q3 fiscal 2019 revenue to soar 42.3% and reach $21.68 billion. Investors should note that these figures include the likely positive impact of its Fox deal. Last quarter, revenue jumped just 3% to $14.9 billion. With that said, the company’s full-year revenue is expected to surge 20.5% to $71.61 billion. Peeking further down the road, DIS’ 2020 revenue is expected to jump 17% above our current year estimate to reach $83.94 billion. Bottom Line Disney’s bottom-line outlook is less positive as it spends heavily on its streaming future. The company’s adjusted full-year 2019 earnings are expected to sink 6.4% to $6.63 per share. This projected downturn, coupled with huge gains, has caused DIS’ valuation picture to become less attractive. Disney is trading at 21.1X forward 12-months Zacks Consensus Estimates. This marks a premium compared to its industry’s 18.9X average, the S&P 500’s 16.7X, and its own five-year median of 16.6X. Despite its somewhat stretched valuation picture, Disney’s price/sales ratio sits below its 10-year median. In the end, Disney stock is certainly one to consider in order to gain exposure to the booming streaming market. But unlike some other pure plays such as Roku ROKU or even Netflix, Disney pays a dividend and has a diversified business model. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98% , +119% and +164% in as little as 1 month. The stocks in this report could perform even better. See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Walt Disney Company (DIS) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report AT&T Inc. (T) : Free Stock Analysis Report Comcast Corporation (CMCSA) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Morgan Stanley (MS) : Free Stock Analysis Report Fox Corporation (FOXA) : Free Stock Analysis Report Roku, Inc. (ROKU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments |
Report: Wizards deny trying to lure Masai Ujiri to Washington
After weeks of reports that suggested the Washington Wizards were courting Toronto Raptors president Masai Ujiri, it looks like Ted Leonsis has set the record straight. The Wizard’s managing partner recently addressed the Ujiri rumours in a Washington Post story, where he shared some insight on the organization’s search for a new president of basketball operations. In the story, Leonsis strongly denied that the Wizards were looking to poach the man who built a Toronto team that just won its first NBA championship. “We have not commented on the many rumours surrounding potential candidates during this process, but I wanted to make an exception in this case out of respect to the Raptors organization as they celebrate their well-deserved championship,” Leonsis shared with the Post . “Any reports that we have interest in Masai Ujiri as a candidate are simply not true, and we have never planned in any way to ask for permission to speak to him during our process.” Masai Ujiri celebrates the Raptors' victory over the Golden State Warriors in Game Six of the 2019 NBA Finals at ORACLE Arena. (Photo by Lachlan Cunningham/Getty Images) Leonsis was addressing the many reports that suggested the Wizards were prepared to offer Ujiri a king’s ransom in order to come to Washington. The Wizards’ package for Ujiri reportedly included a near-$10 million salary with an ownership stake in Monumental Sports and Entertainment, which owns and operates the Wizards, Washington Capitals, and the WNBA’s Washington Mystics. After building a championship roster north of the border, Ujiri has quickly become a superstar in the NBA executive ranks, one that many teams would surely love to employ. Shortly before he signed a multi-year contract extension with the Raptors just before the beginning of the 2016 NBA season, the New York Knicks were believed to be interested in Ujiri’s elite services. There’s no doubt that Washington had interest in Ujiri, but this report suggests the 2012-13 Executive of the Year won’t be heading to the U.S. Capital any time soon. More Raptors coverage from Yahoo Sports |
Are Investors Undervaluing Emeco Holdings Limited (ASX:EHL) By 37%?
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Does the June share price for Emeco Holdings Limited (ASX:EHL) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by projecting its future cash flows and then discounting them to today's value. I will be using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple!
We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of theSimply Wall St analysis model.
View our latest analysis for Emeco Holdings
We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.
Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:
[{"": "Levered FCF (A$, Millions)", "2019": "A$20.45", "2020": "A$84.88", "2021": "A$84.80", "2022": "A$85.34", "2023": "A$86.30", "2024": "A$87.59", "2025": "A$89.11", "2026": "A$90.81", "2027": "A$92.65", "2028": "A$94.61"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x2", "2020": "Analyst x4", "2021": "Analyst x3", "2022": "Est @ 0.63%", "2023": "Est @ 1.14%", "2024": "Est @ 1.49%", "2025": "Est @ 1.74%", "2026": "Est @ 1.91%", "2027": "Est @ 2.03%", "2028": "Est @ 2.11%"}, {"": "Present Value (A$, Millions) Discounted @ 9.87%", "2019": "A$18.61", "2020": "A$70.30", "2021": "A$63.93", "2022": "A$58.55", "2023": "A$53.89", "2024": "A$49.78", "2025": "A$46.09", "2026": "A$42.75", "2027": "A$39.70", "2028": "A$36.90"}]
Present Value of 10-year Cash Flow (PVCF)= A$480.52m
"Est" = FCF growth rate estimated by Simply Wall St
The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 10-year government bond rate (2.3%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 9.9%.
Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = AU$95m × (1 + 2.3%) ÷ (9.9% – 2.3%) = AU$1.3b
Present Value of Terminal Value (PVTV)= TV / (1 + r)10= A$AU$1.3b ÷ ( 1 + 9.9%)10= A$499.15m
The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is A$979.67m. The last step is to then divide the equity value by the number of shares outstanding.This results in an intrinsic value estimate of A$3.16. Compared to the current share price of A$1.99, the company appears quite good value at a 37% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.
Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Emeco Holdings as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.9%, which is based on a levered beta of 1.269. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.
Whilst important, DCF calculation shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. What is the reason for the share price to differ from the intrinsic value? For Emeco Holdings, There are three essential factors you should further examine:
1. Financial Health: Does EHL have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk.
2. Future Earnings: How does EHL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart.
3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of EHL? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing!
PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks justsearch here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
What Did TVS Srichakra Limited's (NSE:TVSSRICHAK) CEO Take Home Last Year?
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Shobhana Ramachandhran is the CEO of TVS Srichakra Limited (NSE:TVSSRICHAK). This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. After that, we will consider the growth in the business. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. The aim of all this is to consider the appropriateness of CEO pay levels.
Check out our latest analysis for TVS Srichakra
Our data indicates that TVS Srichakra Limited is worth ₹15b, and total annual CEO compensation is ₹68m. (This figure is for the year to March 2018). While we always look at total compensation first, we note that the salary component is less, at ₹27m. When we examined a selection of companies with market caps ranging from ₹7.0b to ₹28b, we found the median CEO total compensation was ₹16m.
It would therefore appear that TVS Srichakra Limited pays Shobhana Ramachandhran more than the median CEO remuneration at companies of a similar size, in the same market. However, this fact alone doesn't mean the remuneration is too high. A closer look at the performance of the underlying business will give us a better idea about whether the pay is particularly generous.
You can see a visual representation of the CEO compensation at TVS Srichakra, below.
On average over the last three years, TVS Srichakra Limited has shrunk earnings per share by 20% each year (measured with a line of best fit). It achieved revenue growth of 13% over the last year.
Unfortunately, earnings per share have trended lower over the last three years. There's no doubt that the silver lining is that revenue is up. But it isn't sufficiently fast growth to overlook the fact that earnings per share has gone backwards over three years. It's hard to argue the company is firing on all cylinders, so shareholders might be averse to high CEO remuneration. You might want to checkthis free visual report onanalyst forecastsfor future earnings.
With a three year total loss of 15%, TVS Srichakra Limited would certainly have some dissatisfied shareholders. It therefore might be upsetting for shareholders if the CEO were paid generously.
We compared total CEO remuneration at TVS Srichakra Limited with the amount paid at companies with a similar market capitalization. Our data suggests that it pays above the median CEO pay within that group.
Earnings per share have not grown in three years, and the revenue growth fails to impress us.
Just as bad, share price gains for investors have failed to materialize, over the same period. In our opinion the CEO might be paid too generously! CEO compensation is one thing, but it is also interesting tocheck if the CEO is buying or selling TVS Srichakra (free visualization of insider trades).
Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Jervois Completes Merger with M2 Cobalt
• Jervois Mining Limited ("Jervois") completes plan of arrangement with M2 Cobalt Corp. ("M2 Cobalt") (the "Arrangement") after receiving M2 Cobalt shareholder approval and final approval from the British Columbia Supreme Court
• Following receipt of a final acceptance bulletin from the TSX Venture Exchange ("TSXV"), it is anticipated that Jervois will begin trading in Canada under the ticker JRV on or about June 21, 2019. Jervois' primary listing will remain on the ASX, also trading under JRV
• eCobalt Solutions Inc. ("eCobalt") shareholders will vote on their merger with Jervois on Friday 19thJuly, following the Jervois shareholder meeting to approve the same merger on Thursday 18thJuly. Completion of the eCobalt merger is scheduled for Tuesday 23rdJuly, subject to the shareholder approvals and satisfaction of other customary conditions
• In connection with the completion of the Arrangement, Mr. Simon Clarke, former CEO of M2 Cobalt, has been appointed as a Non-Executive Director of Jervois and Mr. Andy Edelmeier, former CFO of M2 Cobalt, has been appointed as Interim CFO of Jervois
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2019) - Jervois Mining Limited (ASX: JRV) is pleased to report that it has completed its previously announced plan of arrangement with M2 Cobalt Corp. (TSXV: MC) under theBusiness Corporations Act(British Columbia). Pursuant to the terms of the Arrangement, at 12:01a.m. Pacific Time on June 19, 2019, Jervois will automatically acquire all the issued and outstanding common shares in the capital of M2 Cobalt in consideration for issuing 63,819,995 ordinary shares in the capital of Jervois to eligible M2 Cobalt shareholders at a ratio of one Jervois share for each M2 Cobalt share.
Upon completion of the Arrangement, Mr. Simon Clarke, former Chief Executive Officer and Executive Director of M2 Cobalt, has joined Jervois' Board of Directors as a Non-Executive Director and Mr. Stephen van der Sluys has stepped down as a director of Jervois. The board would like to thank Mr. van der Sluys for his contribution to Jervois during his time as a director and as interim Chief Executive Officer during the transitionary period up to the appointment of current management.
Mr. Simon Clarke has 25 years in senior roles focused on resources, energy and energy technologies. He was a Co-Founder, Director and former VP of OSUM Oil Sands from inception in 2005 and helped grow the company to a valuation of > US$1 billion and remains a Board Observer and Advisor. Mr. Clarke was a former EVP at RailPower Technologies, which developed hybrid technologies for railroad and other applications, and helped grow the company from C$15 million market cap to over C$350 million in three years while raising more than C$125 million during that time. Mr. Clarke qualified as a securities lawyer and then worked in investment banking and corporate broking and has been a director and advisor to a number of resources and energy technology companies. Mr. Clarke holds an LLB, Dip.LP from Aberdeen University in Scotland.
In addition, Mr. Andy Edelmeier, former Chief Financial Officer of M2 Cobalt, has joined Jervois' management team and will continue as Interim Chief Financial Officer of Jervois. Prior to co-founding M2 Cobalt, he gained extensive experience working in the finance and capital markets industries for more than 25 years. He was formerly a Partner at Strata Partners, a London-based corporate finance firm, where he advised on private equity financings and cross border M&A. Previously, Mr. Edelmeier was at Credit Suisse First Boston in London, where he raised institutional and private equity capital for public and private companies and served as a Vice President at JP Morgan Chase (Chase Manhattan) where he worked in private equity and acquisition finance roles. Mr. Edelmeier holds an MBA from the London Business School, a BBA from Simon Fraser University and is a Chartered Professional Accountant (CPA, CMA).
The acquisition of M2 Cobalt provides Jervois with entry into Uganda to complement Jervois' East African ambitions particularly regarding opportunities around the historic Kilembe Mine and Kasese Cobalt Refinery. The Arrangement combines complimentary management teams with a strong integrated skill set in exploration, development, financing and capital markets, construction, commissioning and operations.
As previously announced on January 22nd2019, Jervois extended a US$3.0 million working capital bridge loan to M2 Cobalt as part of the Arrangement, of which US$1.8 million is currently drawn. This bridge loan is supporting the current field programs at Bujagali in south central Uganda, and the Kilembe area in the western region. Uganda has a continuation of geological trends from neighbouring Democratic Republic of Congo but with greater political and regulatory stability.
On April 2nd2019, Jervois announced that it had entered into an at-market merger with eCobalt Solutions Inc. pursuant to which Jervois will acquire all of the shares of eCobalt by way of a Plan of Arrangement under the Business Corporation Act (British Columbia) (the "eCobalt Merger"), subject to approval of both companies' shareholders and the satisfaction of other customary conditions.
eCobalt shareholders are expected to vote on its merger with Jervois on Friday July 19th2019, with holders of 19.2% of eCobalt's outstanding shares locked-up and committed to approve the eCobalt Merger, which requires the approval of a 66 2/3% majority of voted shares. Jervois' shareholders are expected to vote on the issue of shares in connection with the eCobalt Merger on Thursday July 18th2019, which requires a majority of shares voting to approve. Completion of the eCobalt Merger is scheduled for Tuesday July 23rd2019, if approved by both companies' shareholders and the other customary conditions are satisfied.
Full details of the Arrangement and certain other related matters are set out in the management information circular of M2 Cobalt dated May 15th2019 (the "Information Circular"). A copy of the Information Circular can be found under M2 Cobalt's profile on SEDAR at www.sedar.com. Former M2 Cobalt shareholders who require assistance with the completion of the letter of transmittal are advised to contact Computershare Investor Services Inc., the depositary for the Arrangement, by telephone (toll-free) at 1-800-564-6253 or by email atcorporateactions@computershare.com.
Delisting of M2 Cobalt Shares
In connection with the completion of the Arrangement, trading of M2 Cobalt's common shares on the TSXV has been halted. Subject to TSXV approval, it is anticipated that such shares will be delisted from the TSXV effective as of the close of market on June 20th2019. In addition, M2 Cobalt will begin the process of applying to cease to be a reporting issuer in the relevant Canadian jurisdictions.
Jervois Secondary Listing
In conjunction with the Arrangement and the delisting of M2 Cobalt, Jervois has received final acceptance from the TSXV to complete its secondary listing on the TSXV. It is anticipated that Jervois' ordinary shares will commence trading on the TSXV on or around June 21st2019. Jervois' primary listing on the ASX will continue and the Company will be listed on both the ASX and TSXV under the symbol JRV. Jervois has also applied for an OTCQX listing to provide greater accessibility and liquidity for its shares held by United States investors. The OTCQX listing remains subject to final United States regulatory approval.
For further information, please contact:
Investors and analysts:
Bryce CrockerChief Executive OfficerJervois Miningbcrocker@jervoismining.com.auOffice: +61 3 9583 0498
Media:
Nathan RyanNWR Communicationsnathan.ryan@nwrcommunications.com.auCell: +61 420 582 887
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Jervois and M2 Cobalt. Forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "anticipate", "intend", "plan", "will", "would", "estimate", "expect", "believe", "target", "indicative", "preliminary", or "potential". All statements, other than statements of historical fact, included herein including, without limitation, statements or information about the integration of the business of M2 Cobalt into the Jervois organization, the anticipated benefits from the Arrangement, the completion of and the anticipated benefits from the eCobalt Merger, the receipt of required regulatory approvals and satisfaction of other customary closing conditions, the timing for the special meetings of eCobalt shareholders and Jervois shareholders, the secondary listing of Jervois' ordinary shares on the TSXV and the OTCQX, the delisting of M2 Cobalt common shares on the TSXV, information about M2 Cobalt applying to cease to be a reporting issuer in the relevant Canadian jurisdictions, expectations regarding future exploration, licensing, development, growth and potential of Jervois' and M2 Cobalt's operations, projects and investments, future opportunities associated with or in relation to the historic Kilembe Mine and Kasese Cobalt Refinery, are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risk factors include, among others: risks associated with the business of Jervois, M2 Cobalt and eCobalt; risks related to the integration of M2 Cobalt into the Jervois organization following completion of the Arrangement; risks related to the satisfaction or waiver of certain conditions contemplated by the eCobalt Merger; risks related to reliance on technical information provided by Jervois, M2 Cobalt and eCobalt; risks relating to exploration and potential development of Jervois', M2 Cobalt's and eCobalt's projects; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; prices for commodities to be produced and changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of mineral resources); risks relating to unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time and the additional risks identified in Jervois', M2 Cobalt's and eCobalt's filings with Canadian securities regulators on SEDAR in Canada (available atwww.sedar.com) and with the Australian Securities Exchange in Australia (available atwww.asx.com.au). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Jervois does not assume any obligation to update or revise them to reflect new events or circumstances.
On behalf of the Board of Directors of Jervois,"Bryce Crocker"Bryce Crocker, CEO and Director
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45719 |
Mark Esper, Trump's New Defense Secretary Pick, Is Army Veteran
President Donald Trump’s pick for new Defense Secretary is an Army veteran who served in the first Iraq war and also has experience as a national security adviser on Capitol Hill as well as a defense industry lobbyist.
Trump on Tuesday said Mark Esper, his current Army secretary, would lead the Defense Department on an acting basis.
“I know Mark, and have no doubt he will do a fantastic job!” the president tweeted.
He later told reporters that he would most likely nominate Esper for the permanent job.
“Frankly this could happen very quickly for Mark Esper,” Trump said. “He’s very experienced. He’s been around all of the things that we’ve been talking about for a very long period of time.”
The move came after actingDefense Secretary Patrick Shanahanwithdrew from the job before his formal nomination ever went to the Senate, citing a “painful” family situation that would hurt his children and reopen “wounds we have worked years to heal.”
Esper was sworn in as Army secretary in November 2017 following a seven-year stint as vice president for government relations at defense contractorRaytheon.
That lobbyist background raised immediate alarms from Citizens for Responsibility and Ethics, which said that Raytheon had recently won multiple government contracts worth hundreds of millions of dollars.
“While Esper may not have had sway over these types of deals as Secretary of the Army, as acting Secretary of Defense he will have potential influence over such deals,” as well as a proposed merger between Raytheon andUnited TechnologiesCorp., CREW executive director Noah Bookbinder said in a statement.
Esper previously served a national security adviser for former Senate Majority Leader Bill Frist.
He was policy director for the House Armed Services Committee and a professional staff member on the Senate Foreign Relations and Government Affairs committees and also advised former Obama administration Defense Secretary Chuck Hagel when Hagel was in the Senate.
He’s also served as a deputy assistant secretary of defense and was a war planner on the Army staff.
Esper spent more than a decade in the Army, including serving in the Persian Gulf War in 1990 and 1991 with the 101st Airborne Division. He has won the Bronze Star Medal and other awards.
“He has a great background. I know him and I think he’ll do very well in the acting role,” said Sen. David Perdue, R-Ga., a close Trump ally who speaks frequently with the president.
It is not clear whether Esper’s defense industry background might complicate any confirmation prospects.
Shanahan came under scrutiny because of his prior career as aBoeingexecutive and persistent questions about possible conflicts of interest.
The Defense Department’s Inspector General cleared Shanahan of any wrongdoing in connection with accusations he had shown favoritism toward Boeing during his time as deputy defense secretary, while disparaging Boeing competitors.
Bookbinder said Shanahan’s past work at Boeing overshadowed his decisions at the Defense Department.
“His successor will likewise risk being tainted by his previous work for a major defense contractor,” Bookbinder said.
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—The campaign finance power behindTrump impeachment efforts
—Not every state is restrictingabortion rights—some are expanding them
—Richard Nixon‘s “Western White House” is back on the market—at a discount
—Trump administration to use former Japanese internment camp to housemigrant children
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Could China SCE Group Holdings Limited's (HKG:1966) Investor Composition Influence The Stock Price?
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A look at the shareholders of China SCE Group Holdings Limited (HKG:1966) can tell us which group is most powerful. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. I generally like to see some degree of insider ownership, even if only a little. As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.'
China SCE Group Holdings has a market capitalization of HK$15b, so we would expect some institutional investors to have noticed the stock. Taking a look at our data on the ownership groups (below), it's seems that institutions are noticeable on the share registry. Let's take a closer look to see what the different types of shareholder can tell us about 1966.
Check out our latest analysis for China SCE Group Holdings
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
We can see that China SCE Group Holdings does have institutional investors; and they hold 8.6% of the stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone, since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of China SCE Group Holdings, (below). Of course, keep in mind that there are other factors to consider, too.
China SCE Group Holdings is not owned by hedge funds. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.
The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
Our most recent data indicates that insiders own the majority of China SCE Group Holdings Limited. This means they can collectively make decisions for the company. Given it has a market cap of HK$15b, that means insiders have a whopping HK$9.0b worth of shares in their own names. Most would argue this is a positive, showing strong alignment with shareholders. You canclick here to see if they have been selling down their stake.
The general public holds a 32% stake in 1966. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too.
I always like to check for ahistory of revenue growth. You can too, by accessing this free chart ofhistoric revenue and earnings in thisdetailed graph.
If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can checkthis free report showing analyst forecasts for its future.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
What Kind Of Shareholders Own Eveready Industries India Limited (NSE:EVEREADY)?
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The big shareholder groups in Eveready Industries India Limited (NSE:EVEREADY) have power over the company. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Companies that used to be publicly owned tend to have lower insider ownership.
Eveready Industries India is not a large company by global standards. It has a market capitalization of ₹5.9b, which means it wouldn't have the attention of many institutional investors. In the chart below below, we can see that institutions are noticeable on the share registry. Let's take a closer look to see what the different types of shareholder can tell us about EVEREADY.
View our latest analysis for Eveready Industries India
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
As you can see, institutional investors own 25% of Eveready Industries India. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Eveready Industries India's historic earnings and revenue, below, but keep in mind there's always more to the story.
Hedge funds don't have many shares in Eveready Industries India. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.
The definition of company insiders can be subjective, and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
We can see that insiders own shares in Eveready Industries India Limited. In their own names, insiders own ₹69m worth of stock in the ₹5.9b company. Some would say this shows alignment of interests between shareholders and the board, though I generally prefer to see bigger insider holdings. But it might be worth checkingif those insiders have been selling.
With a 30% ownership, the general public have some degree of sway over EVEREADY. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.
It seems that Private Companies own 8.0%, of the EVEREADY stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.
We can see that public companies hold 35%, of the EVEREADY shares on issue. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further.
While it is well worth considering the different groups that own a company, there are other factors that are even more important.
I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph.
Of coursethis may not be the best stock to buy. So take a peek at thisfreefreelist of interesting companies.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Facebook Triggers Fresh Washington Fury Over Crypto Project
(Bloomberg) -- Facebook Inc.’s plans to create a new cryptocurrency that can be used for everything from commerce to money transfers is facing pushback from angry U.S. lawmakers.
House Financial Services Committee Chairwoman Maxine Waters urged the company to halt development of the token until Congress and regulators can examine it. Other lawmakers demanded hearings and questioned whether the coin, called Libra, will have appropriate oversight.
The scrutiny shows the risks for a corporate titan like Facebook, which already faces deep skepticism in Washington, of moving into a controversial industry like cryptocurrencies. Still reeling from allegations that it failed to protect users’ data, the Silicon Valley power is now entering a space that is known for its lax regulation and resistance to oversight.
“Facebook has data on billions of people and has repeatedly shown a disregardfor the protection and careful use of this data,” Waters, a California Democrat, said in a statement. “With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users.”
Representative Patrick McHenry, the top Republican on the financial services panel, wants Waters to hold a hearing. He said Congress needs to go “beyond the rumors and speculations and provide a forum to assess this project and its potential unprecedented impact on the global financial system.”
Particular concerns lawmakers have had about digital currencies include the risk that consumers’ coins might be stolen and the potential for money laundering.
David Marcus, the Facebook executive leading the company’s cryptocurrency and blockchain efforts, told Bloomberg last week that he has been in touch with regulators and central banks in multiple countries. “We really wanted to make them stakeholders early on in the process and get their feedback early on,” he said.
In response to criticism Tuesday from U.S. lawmakers, a Facebook spokeswoman said: “We look forward to responding to lawmakers’ questions as this process moves forward.”
Facebook intends to launch its coin in 2020. Senator Mark Warner, a Virginia Democrat, said he was concerned the company appears to be using its corporate heft to move into and try to dominate new industries.
Senator Sherrod Brown, the top Democrat on the Senate Banking Committee, made a point that was common in lawmakers’ statements: regulators must make sure Facebook users are protected. But like others, he didn’t identify a particular watchdog, perhaps signaling uncertainty over who might police Libra.
The Securities and Exchange Commission typically steps in when companies raise money by selling ownership stakes in an asset likes shares. The Commodity Futures Trading Commission has oversight of trading in futures and derivatives but not underlying digital tokens. States and banking regulators like the Federal Reserve could potentially have a role in regulating Libra.
The Wall Street Journal reported Tuesday that Facebook said a Libra subsidiary that will create crypto wallets that can be used to pay for items will be regulated. Facebook didn’t say which agency will have jurisdiction.
(Updates with Facebook comment in seventh, eighth paragraphs.)
--With assistance from Kurt Wagner.
To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net
To contact the editors responsible for this story: Gregory Mott at gmott1@bloomberg.net, Jillian Ward, Andrew Pollack
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
General Insurance Corporation of India (NSE:GICRE): The Best Of Both Worlds
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As an investor, I look for investments which does not compromise one fundamental factor for another. By this I mean, I look at stocks holistically, from their financial health to their future outlook. In the case of General Insurance Corporation of India (NSE:GICRE), it is a notable dividend-paying company that has been able to sustain great financial health over the past. In the following section, I expand a bit more on these key aspects. For those interested in understanding where the figures come from and want to see the analysis, take a look at thereport on General Insurance of India here.
Investors should not worry about GICRE’s debt levels because the company has none! It has only utilized funding from its equity capital to run the business, which is rather impressive for a ₹371b market cap company. Investors’ risk associated with debt is virtually non-existent and the company has plenty of headroom to grow debt in the future, should the need arise.
GICRE is considered one of the top dividend payers in the market, and it has also been able to maintain it at a level in which net income is able to cover dividend payments.
For General Insurance of India, I've compiled three pertinent aspects you should look at:
1. Future Outlook: What are well-informed industry analysts predicting for GICRE’s future growth? Take a look at ourfree research report of analyst consensusfor GICRE’s outlook.
2. Historical Performance: What has GICRE's returns been like over the past? Go into more detail in the past track record analysis and take a look atthe free visual representations of our analysisfor more clarity.
3. Other Attractive Alternatives: Are there other well-rounded stocks you could be holding instead of GICRE? Exploreour interactive list of stocks with large potentialto get an idea of what else is out there you may be missing!
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Is New Zealand King Salmon Investments Limited (NZSE:NZK) Potentially Undervalued?
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New Zealand King Salmon Investments Limited (NZSE:NZK), which is in the food business, and is based in New Zealand, saw significant share price movement during recent months on the NZSE, rising to highs of NZ$2.97 and falling to the lows of NZ$2.15. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether New Zealand King Salmon Investments's current trading price of NZ$2.22 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at New Zealand King Salmon Investments’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change.
Check out our latest analysis for New Zealand King Salmon Investments
According to my relative valuation model, the stock seems to be currently fairly priced. I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 19.3x is currently trading slightly below its industry peers’ ratio of 22.98x, which means if you buy New Zealand King Salmon Investments today, you’d be paying a fair price for it. And if you believe that New Zealand King Salmon Investments should be trading at this level in the long run, then there’s not much of an upside to gain from mispricing. Is there another opportunity to buy low in the future? Since New Zealand King Salmon Investments’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market.
Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. With profit expected to grow by a double-digit 16% over the next couple of years, the outlook is positive for New Zealand King Salmon Investments. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.
Are you a shareholder?NZK’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the track record of its management team. Have these factors changed since the last time you looked at NZK? Will you have enough confidence to invest in the company should the price drop below its fair value?
Are you a potential investor?If you’ve been keeping an eye on NZK, now may not be the most optimal time to buy, given it is trading around its fair value. However, the optimistic forecast is encouraging for NZK, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.
Price is just the tip of the iceberg. Dig deeper into what truly matters – the fundamentals – before you make a decision on New Zealand King Salmon Investments. You can find everything you need to know about New Zealand King Salmon Investments inthe latest infographic research report. If you are no longer interested in New Zealand King Salmon Investments, you can use our free platform to see my list of over50 other stocks with a high growth potential.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Senators Reach Bipartisan Deal on a Border Funding Package
Senate Republicans and Democrats reached a deal on $4.6 billion in emergency funds to deal with a surge in migration at the U.S. border with Mexico, people familiar with the deal said Tuesday. President Donald Trump requested the funds on May 1, including $3.3 billion to be used to shelter undocumented migrants at the southern border and $1.1 billion for border operations. Senate Majority Leader Mitch McConnell has said the Senate will vote on a border measure by the end of next week. Because of squabbles over immigration policy, the border funding was left out of a $19.1 billion disaster aid package signed into law earlier this month. Senate Appropriations Chairman Richard Shelby of Alabama and top Democrat Patrick Leahy of Vermont reached an agreement and plan to announce details before a committee vote on the bill tomorrow morning, the people said. The House plans to vote on a separate border package next week, according to Representative Henry Cuellar, a Texas Democrat who has become a point person on the issue for Speaker Nancy Pelosi. If that plan differs from the Senate effort, the House and Senate could convene a conference committee to work out the differences. Democrats have sought to ensure that funds in the package wouldn’t be used to build Trump’s border wall or pay for raids on undocumented immigrants within the U.S. Party members have also sought to limit the government’s ability to transfer information on those seeking to care for child migrants to Immigration and Customs Enforcement, which could lead to deportations. There was no immediate word on whether Leahy was able to secure changes addressing these points. More must-read stories from Fortune : —2020 Democratic primary debates : Everything you need to know —The campaign finance power behind Trump impeachment efforts —Not every state is restricting abortion rights —some are expanding them — Richard Nixon ‘s “Western White House” is back on the market—at a discount —Trump administration to use former Japanese internment camp to house migrant children Get up to speed on your morning commute with Fortune ’s CEO Daily newsletter. |
Reconciliation of Preliminary Economic Assessment prepared in accordance with Canadian NI 43-101 to ASX guidance
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2019) - Jervois Mining Limited (ASX: JRV) provides the following statement in connection with the recently announced completion of the plan of arrangement ("Arrangement") with M2 Cobalt Corp. ("M2 Cobalt").
Canadian Requirements
In connection with the Arrangement with M2 Cobalt, Jervois commissioned a National Instrument 43-101 compliant preliminary economic assessment (the "PEA)"), titled "Nico Young Project PEA Young, NSW, Australia National Instrument 43-101 Technical Report - Preliminary Economic Analysis" and dated April 5 2019, for its 100% owned Nico Young nickel-cobalt project in New South Wales, Australia. Extracts from the PEA were included in M2 Cobalt's management information circular recommending M2 Cobalt shareholders approve the Arrangement.
The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. As a condition of Jervois' secondary listing on the TSXV, and in accordance with Canadian provincial securities laws, Jervois was required to file a current technical report, being the PEA, on SEDAR, the document filing system for Canadian publicly traded companies.1Accordingly, a copy of the PEA was made available under M2 Cobalt's SEDAR profile, atwww.sedar.com, on May 21, 2019 and, as at the date of this press release, will be available under Jervois' SEDAR profile, also atwww.sedar.com. eCobalt's management information circular recommending its shareholders vote in favour of Jervois' merger with eCobalt will also include a summary of the PEA.
Australian Disclosure Policies
The PEA was prepared in accordance with Canadian law and regulation, and has been produced to satisfy Canadian legal requirements. Nevertheless, the PEA contains production targets and financial projections which are based to a significant extent on inferred mineral resources.
The JORC Code defines an "inferred mineral resource" as "that part of a mineral resource for which quantity and grade (or quality) are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade (or quality) continuity. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes."
There is a low level of geological confidence associated with inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated or measured mineral resources or that production targets or forecast financial information will be realised.
The Australian Securities and Investments Commission ("ASIC") and the ASX caution against the making of forward-looking statements based on inferred mineral resources that are determinative of project economics, for the reason that such statements may lack a reasonable basis and may therefore be deemed misleading. Accordingly, the PEA cannot be released in Australia and, in relation to the release of the PEA in Canada, Jervois shareholders and potential investors are cautioned against placing undue reliance on the content or outcomes of the PEA.
Cautionary Statement
The economic assessment within the PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorised as ore reserves. There is no certainty that the preliminary economic assessment in the PEA will be realised. There has been no ore reserve estimate developed. There is no certainty that further exploration work will result in the determination of adequate measured and indicated mineral resources or that the production targets underlying the PEA will be realised. Further evaluation work and appropriate studies are required to establish sufficient confidence that any PEA production targets or financial forecasts contained in the PEA will be met.
As the majority of the mineral resource is inferred and of lower confidence, any technical and financial results should be viewed with caution.
The stated production target and forecast financial information is based on the entity's current expectations of future results or events and should not be solely relied upon by investors when making investment decisions.
Future Intentions for Nico Young
Following completion of Jervois' merger with M2 Cobalt announced today, Jervois will redirect its financial resources to its new projects, while continuing to focus on the Kabanga and Kilembe / Kasese Cobalt Refinery negotiations with the Governments of Tanzania and Uganda, respectively. Similar to other east coast nickel-cobalt laterites in Australia, at today's metal prices Nico Young is not economic. However Jervois is confident that the chosen heap leach flowsheet is a sensible, lower capital and reduced technical risk development approach versus the high capital and elevated construction and operating risk nature of high pressure acid leach facilities. Nico Young provides an attractive opportunity for development as and when commodity prices improve, as demonstrated by the positive outcomes of the PEA. However, as of today at current metal prices Nico Young is not material to the future prospects of the Company.2In the event that nickel and cobalt prices rise from prevailing levels, the Nico Young asset represents an option on such developments.
Jervois intends to progress Nico Young in accordance with the recommendations in section 26 of the PEA, relying exclusively on funding to be sourced from project and/or off-take partners. Jervois will sell down its current 100% equity ownership prior to construction. Off-take and partner negotiations are advancing.
For further information, please contact:
Investors and analysts
Bryce CrockerChief Executive OfficerJervois Miningbcrocker@jervoismining.com.auOffice: +61 3 9583 0498
Media:
Nathan RyanNWR Communicationsnathan.ryan@nwrcommunications.com.auCell: +61 420 582 887
Qualified Person's Statement
The technical content of this news release, as it relates to the PEA, has been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and qualified person as defined by National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Jervois and M2 Cobalt. Forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "anticipate", "intend", "plan", "will", "would", "estimate", "expect", "believe", "target", "indicative", "preliminary", or "potential". All statements, other than statements of historical fact, included herein including, without limitation, statements or information about the integration of the business of M2 Cobalt into the Jervois organization, the anticipated benefits from the Arrangement, expectations regarding future exploration, licensing, development, growth and potential of Jervois' and M2 Cobalt's operations, projects and investments, including those extracted from and set out in the PEA, statements pertaining to mineral resource estimates, Jervois' ongoing off-take and partnering process in respect of the Nico Young nickel-cobalt project, future opportunities associated with or in relation to the historic Kabanga and Kilembe Mine and Kasese Cobalt Refinery, Jervois' expectations with respect to commodity prices, and information relating to the future allocation of capital resources are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risk factors include, among others: risks associated with the business of Jervois and M2 Cobalt; risks related to the integration of M2 Cobalt into the Jervois organization following completion of the Arrangement; risks related to reliance on technical information provided by Jervois and M2 Cobalt; risks relating to exploration and potential development of Jervois'and M2 Cobalt's projects; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; prices for commodities to be produced and changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of mineral resources); risks relating to unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time and the additional risks identified in Jervois' and M2 Cobalt's filings with Canadian securities regulators on SEDAR in Canada (available atwww.sedar.com) and with the Australian Securities Exchange in Australia (available atwww.asx.com.au). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Jervois does not assume any obligation to update or revise them to reflect new events or circumstances.
On behalf of the Board of Directors of Jervois,
"Bryce Crocker"Bryce Crocker, CEO and Director
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
1The TSXV listing requirements for a mining company require the submission and approval of a NI 43-101 compliant technical report for a material mining property: Policies 2.1 and 2.3 of the TSXV Corporate Finance Policies. The TSXV has accepted the PEA as being such a report. There is no realistic prospect of waiver or exemption of this requirement, which must be satisfied at the time of listing.
In addition, Jervois will become a "reporting issuer" at the Effective Time of the M2 Cobalt arrangement, and as a result must file on SEDAR a NI 43-101 compliant report for each mineral property material to the issuer (43-101 Section 4.1(1)). The PEA is such a report. There is no realistic prospect of a waiver or exemption from this requirement.
2Based on Jervois redirecting its financial resources to its new projects with continuing focus on the Kabanga / Kasese Cobalt Refinery negotiations. Also, Canadian regulation may nevertheless deem Nico Young to be a material mineral property.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45724 |
US, Iran voice resolve in brinkmanship, say war not sought
WASHINGTON (AP) The United States and Iran said Tuesday they were not seeking war with each other as tensions simmered between the two in the Persian Gulf and President Donald Trump vowed the U.S. would respond to any attack. "We have a lot of things going with Iran," Trump told reporters as he left the White House for a campaign event in Florida. "We'll see what happens. Let me just say this: We are very prepared." Trump's comments came just hours after he announced the sudden departure of acting Pentagon chief Patrick Shanahan, jolting the Defense Department only a day after he signed off on sending an additional 1,000 troops to the Middle East to counter Iran. On a visit Tuesday to U.S. Central Command in Florida, Secretary of State Mike Pompeo said he was confident the U.S. is taking the necessary steps to confront any challenge from Iran. He said the military is ready to respond to any attack by Iran on U.S. interests or Iranian disruption of international shipping lanes through which much of the world's oil supplies flow. Pompeo said Trump only wants to reestablish a deterrent to Iranian threats. "President Trump does not want war, and we will continue to communicate that message, while doing the things that are necessary to protect American interests in the region," he told reporters. Pompeo said he made the trip to meet with commanders who would be responsible for any operations in the Gulf to ensure that America's diplomatic and military efforts are coordinated "to make sure that we're in the position to do the right thing." The "right thing," he said, "is to continue to work to convince the Islamic Republic of Iran that we are serious and to deter them from further aggression in the region." Similarly measured sentiments of resolve came from Iran, where President Hassan Rouhani said, "We do not wage war with any nation," but Iranians will withstand mounting U.S. pressure and prevail in the brinksmanship. Story continues Iran announced on Monday that it could soon start enriching uranium to just a step away from weapons-grade levels, a challenge to Trump's assurances to allies that the U.S. withdrawal from the deal last year made the world safer. The Pentagon responded by ordering the additional troops to the region, including security forces for added surveillance and intelligence-gathering. The U.S. accuses Iran of attacking two tankers near the Persian Gulf; the Iranians deny responsibility. With details murky and no one owning up to the attacks, the Pentagon released new photos intended to bolster its case. In Congress, some lawmakers expressed worry that the gradual buildup of U.S. troops in the Middle East could become a slippery slope. "We expect the administration to seek authorization (from Congress) prior to any deployment of forces into hostilities or areas where hostilities with Iran are imminent," said a statement from a bipartisan group of senators led by Democrat Tim Kaine of Virginia and Republican Mike Lee of Utah. Yet some Republicans argued that rising tensions necessitate a more forceful response from the White House. "You can't have provocative acts by a rogue regime go unanswered," Sen. Lindsey Graham of South Carolina said, adding that he doesn't believe the president would need to come to Congress before striking Iran. Sen. Tom Cotton of Arkansas said he favored a "retaliatory military strike." In announcing the new deployment before he resigned, Shanahan said the forces are "for defensive purposes to address air, naval, and ground-based threats" in the Mideast. "The United States does not seek conflict with Iran," Shanahan said, describing the move as intended "to ensure the safety and welfare of our military personnel working throughout the region and to protect our national interests." He said the U.S. will continue to adjust troop levels as needed. Shanahan abruptly stepped down Tuesday before his formal nomination ever went to the Senate, citing a "painful" family situation. Trump said Army Secretary Mark Esper would be the new acting Pentagon chief. ___ Associated Press writer Susannah George contributed to this report. |
How Much Of CPMC Holdings Limited (HKG:906) Do Institutions Own?
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Every investor in CPMC Holdings Limited (HKG:906) should be aware of the most powerful shareholder groups. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Companies that have been privatized tend to have low insider ownership.
CPMC Holdings is not a large company by global standards. It has a market capitalization of HK$3.1b, which means it wouldn't have the attention of many institutional investors. Taking a look at our data on the ownership groups (below), it's seems that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about 906.
View our latest analysis for CPMC Holdings
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
CPMC Holdings already has institutions on the share registry. Indeed, they own 21% of the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at CPMC Holdings's earnings history, below. Of course, the future is what really matters.
We note that hedge funds don't have a meaningful investment in CPMC Holdings. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.
The definition of company insiders can be subjective, and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
We can see that insiders own shares in CPMC Holdings Limited. It has a market capitalization of just HK$3.1b, and insiders have HK$61m worth of shares, in their own names. It is good to see some investment by insiders, but it might be worth checkingif those insiders have been buying.
The general public holds a 26% stake in 906. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
It seems that Private Companies own 28%, of the 906 stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.
It appears to us that public companies own 23% of 906. We can't be certain, but this is quite possible this is a strategic stake. The businesses may be similar, or work together.
It's always worth thinking about the different groups who own shares in a company. But to understand CPMC Holdings better, we need to consider many other factors.
I always like to check for ahistory of revenue growth. You can too, by accessing this free chart ofhistoric revenue and earnings in thisdetailed graph.
Ultimatelythe future is most important. You can access thisfreereport on analyst forecasts for the company.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Wizards deny interest in Masai Ujiri
The Washington Wizards claim they never had interest in hiring Toronto Raptors president Masai Ujiri. Wizards owner Ted Leonsis shut down reports Tuesday, telling Candace Buckner of the Washington Post the team never planned to talk to Ujiri. That news comes as a bit of a surprise considering how much the Wizards had been tied to Ujiri over the past couple weeks. In early June, it was reported the Wizards were considering giving Ujiri an ownership stake in the team to convince him to join the Wizards. A week later, it was reported the Wizards were going to offer Ujiri $10 million a year . Leonsis strongly denied those reports. Leonsis: "Any reports that we have interest in Masai Ujiri as a candidate are simply not true, and we have never planned in any way to ask for permission to speak to him during our process. https://t.co/ioZUOGN3vv Candace Buckner (@CandaceDBuckner) June 18, 2019 The Wizards are in search of a new president after firing long-time exec Ernie Grunfeld during the season. The Wizards reportedly wanted Denver Nuggets president Tim Connelly, but Connelly rejected Washingtons offer . Following the Raptors win in Game 6 of the NBA Finals, Ujiri was involved in an incident with a deputy on the court. The deputy reportedly asked Ujiri to present credentials as Ujiri was heading to the court to celebrate. The deputy then claims things got physical. Ujiri has been seen in videos holding his credentials right before and right after the incident. The deputy involved may sue after claiming he suffered a concussion and serious jaw injury during the altercation . Ujiri may have hinted at his long-term future at the Raptors championship parade Monday. He told fans well win some more in Toronto. Chris Cwik is a writer for Yahoo Sports. Have a tip? Email him at christophercwik@yahoo.com or follow him on Twitter! Follow @Chris_Cwik Story continues More from Yahoo Sports: Goodwill: Relationship between CP3, Harden seems doomed Golfer gets Stanford diploma at Pebble Beach after U.S. Open Bushnell: Mexican fans' homophobic chant wrongfully going strong Brett Favre IG post causes brief hysteria about a comeback |
Is Vtech Holdings Limited (HKG:303) Excessively Paying Its CEO?
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In 2004 Allan Wong was appointed CEO of Vtech Holdings Limited (HKG:303). First, this article will compare CEO compensation with compensation at similar sized companies. Then we'll look at a snap shot of the business growth. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. This method should give us information to assess how appropriately the company pays the CEO.
View our latest analysis for Vtech Holdings
Our data indicates that Vtech Holdings Limited is worth HK$18b, and total annual CEO compensation is US$3.0m. (This is based on the year to March 2019). That'slessthan last year. We think total compensation is more important but we note that the CEO salary is lower, at US$1.1m. As part of our analysis we looked at companies in the same jurisdiction, with market capitalizations of US$1.0b to US$3.2b. The median total CEO compensation was US$523k.
As you can see, Allan Wong is paid more than the median CEO pay at companies of a similar size, in the same market. However, this does not necessarily mean Vtech Holdings Limited is paying too much. We can get a better idea of how generous the pay is by looking at the performance of the underlying business.
The graphic below shows how CEO compensation at Vtech Holdings has changed from year to year.
Over the last three years Vtech Holdings Limited has grown its earnings per share (EPS) by an average of 4.1% per year (using a line of best fit). In the last year, its revenue is up 1.5%.
I would argue that the improvement in revenue isn't particularly impressive, but the modest improvement in EPS is good. Considering these factors I'd say performance has been pretty decent, though not amazing. It could be important to checkthis free visual depiction ofwhat analysts expectfor the future.
Since shareholders would have lost about 4.1% over three years, some Vtech Holdings Limited shareholders would surely be feeling negative emotions. This suggests it would be unwise for the company to pay the CEO too generously.
We examined the amount Vtech Holdings Limited pays its CEO, and compared it to the amount paid by similar sized companies. Our data suggests that it pays above the median CEO pay within that group.
While we have not been overly impressed by the business performance, the shareholder returns, over three years, have been disappointing. Shareholders may wish to consider further research. Although we don't think the CEO pay is too high, it is probably more on the generous side of things. CEO compensation is one thing, but it is also interesting tocheck if the CEO is buying or selling Vtech Holdings (free visualization of insider trades).
Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
South Korea's Korean Air to buy 30 Boeing 787 planes for $9.67 bln
SEOUL, June 19 (Reuters) - South Korea's biggest carrier Korean Air Lines said on Wednesday it has signed a memorandum of understanding to buy 30 Boeing planes for $9.67 billion.
The company said in a statement that it will buy 20 Boeing 787-10s and 10 more 787-9s to add to its existing fleet.
It is the first purchase for a South Korean carrier of a 787-10 model, the largest member of the Dreamliner family, the company said. (Reporting by Hayoung Choi, Joori Roh Editing by Shri Navaratnam) |
Shania Twain Opens Up About Her 'Intense' Open-Throat Surgery and Having to 'Rediscover' Her Voice
Shania Twain is looking back on a challenging time in her life with an optimistic mindset. The country singer, who contracted Lyme disease in 2003, recently opened up to Extra about her recovery from the tick-borne illness and how she managed to move forward, despite temporarily losing her voice. In order to regain her voice from the damaging effects of dysphonia, which she says was caused by her Lyme disease, Twain, 53, underwent multiple invasive surgeries. I had to have an operation that was very intense and its an open-throat operation, very different from a vocal cord operation, she explained to Extra on Tuesday. I had to have two of them, so that was really, really, really tough and I survived that meaning emotionally I survived and am just ready to keep going. Initially, the That Dont Impress Me Much singer struggled after her voice was impacted and she withdrew from the spotlight for over a decade. Shania Twain | Bryan Steffy/Getty RELATED: How Shania Twain Has Learned to Own Her Pain and Live in the Now : Its All About Reflecting What Ive Been Through She eventually made her return in 2017, but Twain said it took time for her to embrace the fact that she would not have the same voice as she did before her diagnosis and surgeries. When youre a singer and its your voice, it is just a terrible, terrible feeling, she told the outlet. It was a great, great loss, so I had to come to terms with losing the voice that I had and rediscovering my new one. Although Twain acknowledged that some of the vocal damage is permanent, progressively getting worse, and may require future adjustments, that hasnt stopped her from viewing her Lyme disease battle with a positive outlook. Its been a long, a really rewarding, journey, she revealed to Extra . What Ive learned in the interim through therapy is how to manipulate my voice to get it to do what I want it to do or at least close enough. Story continues I dont want to give up, so Im willing, you know, you just gotta be willing and give in to change and you have to accept that you dont always have to be the same, she added, and thats what I have to do, and Im embracing that. Shania Twain performing | Dave Simpson/WireImage RELATED: Shania Twain Was Shattered by Divorce as She Battled Lyme Disease: I Never Thought I Would Sing Again Twain previously opened up to PEOPLE about the toll the illness took on her, both physically and emotionally, in 2017 the same year she returned to the music scene with her album Now . I was very scared for a little while that I wouldnt sing again, ever, she revealed that July. I went through that moment, but I found a way. I found a way to do it. The country singer explained that using her new voice required lengthy warmups and physical therapy that she described as very, very difficult. In an interview with 60 Minutes Australia, she also said that her divorce from Robert Mutt Lange left her broken as she fought for her health. I was shattered, she told the outlet. How many more traumatic moments can I take? she said. I wasnt just broken, I was shattered. Shania Twain | Charles Sykes/Invision/AP RELATED: Shes Still the One! Shania Twain Announces Second Headlining Residency in Las Vegas However, the singer has fought her way back and has just announced a Las Vegas residency at Zappos Theater at Planet Hollywood Resort & Casino her second stint headlining in Sin City. Twain shared the exciting news on Monday, revealing that her second go-round will be called Lets Go! and is scheduled to kick off Friday, Dec. 6 and stretch through June 2020. Tickets will go for $60 each, with $1 of each ticket sold benefiting Shania Kids Can , a foundation launched by the singer in 2010 to promote positive change in childrens lives in times of crises and economic hardship. The Queen of Country Pop previously headlined Still the One on the Strip, which kicked off in December 2012 at Caesars Palace and marked her return to the stage for the first time in eight years. The show ran for more than 100 performances before ending in December 2014. |
Consumer Product Safety Commission chairwoman stepping down
The acting chairwoman of the Consumer Product Safety Commission announced Tuesday that she is withdrawing her nomination to continue running the federal regulatory agency.
Ann Marie Buerkle, a former Republican congresswoman from New York, said in astatementthat she intends to continue as acting chairwoman until Sept. 30 and “to complete the remainder of my term until October 27 and am committed to an orderly transition to keep the agency focused on its critical mission of protecting consumers.”
In the statement, Buerkle called her work with commission "one of the most rewarding periods of my professional career" and said she would "pursue new opportunities that will allow me to continue my life’s work of advocacy and public service as well as spend more time with my six children and eighteen grandchildren."
In recent months the agency has been criticized for how it has handled recent recalls such as theFisher-Price Rock ‘n Play Sleeper.
Major recall:Fisher-Price recalls 4.7 million Rock ‘n Play sleepers
Craving some dough?:Cookie monsters should be extra careful amid ongoing flour recall
The recall of 4.7 million infant sleepers came a week after Fisher-Price and the agency issueda warningabout the product and days afterConsumer Reports and the American Academy of Pediatricsurged for an immediate recall.
More than 30 babies died in the product.
After the recall was announced April 12,Senator Richard Blumenthal, D-Conn., urged Buerkle to work with "Fisher-Price to streamline recall requirements and insist on a full refund for all affected, to ensure these deadly products are removed from homes."
Sprouts spinach recall:Retailer recalls frozen cut spinach leaves after listeria bacteria found in product
Check your cabinets:Some Ragu pasta sauces recalled, may contain fragments of plastic
Buerkle has served as a consumer product safety commissioner since July 2013 and the acting chairwoman since February 2017. President Donald Trump nominated her to the position, but her nomination was not acted on.
In September 2017, former Sen. Bill Nelson blasted Buerkle for not doing more to improve the safety of portable power generators following several carbon monoxide-related deaths in Florida from Hurricane Irma's aftermath.
The commission is charged with protecting the public "from unreasonable risks of injury or death associated with the use of the thousands of types of consumer products.”
"We made significant safety advancements on previously stalled, complex issues including improved standards that require stock window coverings be cordless, portable generators be equipped with low carbon monoxide emission or shutoff technology, and more stringent safety measures to avoid injury and death from tip-over furniture," Buerkle said Tuesday.
Follow Kelly Tyko on Twitter:@KellyTyko
This article originally appeared on USA TODAY:Consumer Product Safety Commission chairwoman stepping down |
Are Shenzhen Investment Limited's (HKG:604) Interest Costs Too High?
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Investors are always looking for growth in small-cap stocks like Shenzhen Investment Limited (HKG:604), with a market cap of HK$24b. However, an important fact which most ignore is: how financially healthy is the business? Understanding the company's financial health becomes crucial, as mismanagement of capital can lead to bankruptcies, which occur at a higher rate for small-caps. The following basic checks can help you get a picture of the company's balance sheet strength. Nevertheless, these checks don't give you a full picture, so I recommend youdig deeper yourself into 604 here.
604's debt level has been constant at around HK$36b over the previous year including long-term debt. At this current level of debt, 604's cash and short-term investments stands at HK$12b to keep the business going. We note it produced negative cash flow over the last twelve months. For this article’s sake, I won’t be looking at this today, but you can assess some of 604’soperating efficiency ratios such as ROA here.
Looking at 604’s HK$44b in current liabilities, the company has been able to meet these obligations given the level of current assets of HK$61b, with a current ratio of 1.38x. The current ratio is the number you get when you divide current assets by current liabilities. For Real Estate companies, this ratio is within a sensible range as there's enough of a cash buffer without holding too much capital in low return investments.
604 is a relatively highly levered company with a debt-to-equity of 78%. This is somewhat unusual for small-caps companies, since lenders are often hesitant to provide attractive interest rates to less-established businesses. We can test if 604’s debt levels are sustainable by measuring interest payments against earnings of a company. Ideally, earnings before interest and tax (EBIT) should cover net interest by at least three times. For 604, the ratio of 158x suggests that interest is comfortably covered, which means that debtors may be willing to loan the company more money, giving 604 ample headroom to grow its debt facilities.
Although 604’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised. This may mean this is an optimal capital structure for the business, given that it is also meeting its short-term commitment. I admit this is a fairly basic analysis for 604's financial health. Other important fundamentals need to be considered alongside. You should continue to research Shenzhen Investment to get a better picture of the small-cap by looking at:
1. Future Outlook: What are well-informed industry analysts predicting for 604’s future growth? Take a look at ourfree research report of analyst consensusfor 604’s outlook.
2. Historical Performance: What has 604's returns been like over the past? Go into more detail in the past track record analysis and take a look atthe free visual representations of our analysisfor more clarity.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Korean Air to buy 20 Boeing 787s, lease 10 more
SEOUL (Reuters) - Korean Air Lines Co Ltd said on Wednesday it will add 30 Boeing Co Dreamliner passenger jets to its fleet, including what it said would be the country's first use of the largest Dreamliner model, the 787-10.
South Korea's biggest carrier in a regulatory filing said it will buy 20 Boeing 787-10s and lease 10 Boeing 787-9s.
The deal, also jointly announced at the Paris Airshow on Tuesday, gives a needed boost to the world's largest planemaker, which has suffered a sales drought following the grounding of its 737 MAX jets in March after two deadly crashes.
"The 787 Dreamliner family will become the backbone of our mid- and long-haul fleet for many years to come," Korean Air Chairman Walter Cho was quoted as saying in a statement.
The 787 planes will replace the carrier's existing aircraft such as its A330s, B777s and B747s, Korean Air said.
(Reporting by Hayoung Choi; Editing by Shri Navaratnam and Christopher Cushing) |
Read This Before Buying Hotel Property Investments (ASX:HPI) For Its Dividend
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Dividend paying stocks like Hotel Property Investments (ASX:HPI) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful.
With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if Hotel Property Investments is a new dividend aristocrat in the making. We'd agree the yield does look enticing. When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable.
Click the interactive chart for our full dividend analysis
Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. Hotel Property Investments paid out 42% of its profit as dividends, over the trailing twelve month period. A medium payout ratio strikes a good balance between paying dividends, and keeping enough back to invest in the business. Plus, there is room to increase the payout ratio over time.
Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Hotel Property Investments paid out 73% of its free cash flow last year, which is acceptable, but is starting to limit the amount of earnings that can be reinvested into the business. It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.
As Hotel Property Investments has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments on debt. Essentially we check that a) a company does not have too much debt, and b) that it can afford to pay the interest. Hotel Property Investments has net debt of 6.66 times its earnings before interest, tax, depreciation and amortisation (EBITDA) which implies meaningful risk if interest rates rise of earnings decline.
Net interest cover can be calculated by dividing earnings before interest and tax (EBIT) by the company's net interest expense. With EBIT of 3.10 times its interest expense, Hotel Property Investments's interest cover is starting to look a bit thin. Low interest cover and high debt can create problems right when the investor least needs them. We're generally reluctant to rely on the dividend of companies with these traits.
Remember, you can always get a snapshot of Hotel Property Investments's latest financial position,by checking our visualisation of its financial health.
One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. Looking at the data, we can see that Hotel Property Investments has been paying a dividend for the past five years. During the past five-year period, the first annual payment was AU$0.088 in 2014, compared to AU$0.20 last year. This works out to be a compound annual growth rate (CAGR) of approximately 17% a year over that time.
We're not overly excited about the relatively short history of dividend payments, however the dividend is growing at a nice rate and we might take a closer look.
The other half of the dividend investing equation is evaluating whether earnings per share (EPS) are growing. Growing EPS can help maintain or increase the purchasing power of the dividend over the long run. Earnings have grown at around 3.8% a year for the past five years, which is better than seeing them shrink! Hotel Property Investments is paying out less than half of its earnings, which we like. Earnings per share growth have grown slowly, which is not great, but if the retained earnings can be reinvested effectively, future growth may be stronger.
Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. Firstly, we like that Hotel Property Investments pays out a low fraction of earnings. It pays out a higher percentage of its cashflow, although this is within acceptable bounds. Unfortunately, earnings growth has also been mediocre, and we think it has not been paying dividends long enough to demonstrate resilience across economic cycles. While we're not hugely bearish on it, overall we think there are potentially better dividend stocks than Hotel Property Investments out there.
Earnings growth generally bodes well for the future value of company dividend payments. See if the 5 Hotel Property Investments analysts we track are forecasting continued growth with ourfreereport on analyst estimates for the company.
Looking for more high-yielding dividend ideas? Try ourcurated list of dividend stocks with a yield above 3%.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
With EPS Growth And More, Oriental Watch Holdings (HKG:398) Is Interesting
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Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story stocks' without revenue, let alone profit. But as Warren Buffett has mused, 'If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.' When they buy such story stocks, investors are all too often the patsy.
So if you're like me, you might be more interested in profitable, growing companies, likeOriental Watch Holdings(HKG:398). While profit is not necessarily a social good, it's easy to admire a business than can consistently produce it. Loss-making companies are always racing against time to reach financial sustainability, but time is often a friend of the profitable company, especially if it is growing.
View our latest analysis for Oriental Watch Holdings
Over the last three years, Oriental Watch Holdings has grown earnings per share (EPS) like young bamboo after rain; fast, and from a low base. So I don't think the percent growth rate is particularly meaningful. Thus, it makes sense to focus on more recent growth rates, instead. Like a firecracker arcing through the night sky, Oriental Watch Holdings's EPS shot from HK$0.10 to HK$0.27, over the last year. Year on year growth of 170% is certainly a sight to behold.
Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. Oriental Watch Holdings's EBIT margins have actually improved by 4.2 percentage points in the last year, to reach 5.8%, but, on the flip side, revenue was down 17%. That falls short of ideal.
In the chart below, you can see how the company has grown earnings, and revenue, over time. For finer detail, click on the image.
Since Oriental Watch Holdings is no giant, with a market capitalization of HK$1.2b, so you shoulddefinitely check its cash and debtbeforegetting too excited about its prospects.
I like company leaders to have some skin in the game, so to speak, because it increases alignment of incentives between the people running the business, and its true owners. So it is good to see that Oriental Watch Holdings insiders have a significant amount of capital invested in the stock. Indeed, they hold HK$372m worth of its stock. That's a lot of money, and no small incentive to work hard. Those holdings account for over 31% of the company; visible skin in the game.
Oriental Watch Holdings's earnings per share have taken off like a rocket aimed right at the moon. That EPS growth certainly has my attention, and the large insider ownership only serves to further stoke my interest. The hope is, of course, that the strong growth marks a fundamental improvement in the business economics. So yes, on this short analysis I do think it's worth considering Oriental Watch Holdings for a spot on your watchlist. Now, you could try to make up your mind on Oriental Watch Holdings by focusing on just these factors,oryou couldalsoconsider how its price-to-earnings ratio compares to other companies in its industry.
Although Oriental Watch Holdings certainly looks good to me, I would like it more if insiders were buying up shares. If you like to see insider buying, too, then thisfreelist of growing companies that insiders are buying, could be exactly what you're looking for.
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Is Dalmia Bharat Sugar and Industries Limited's (NSE:DALMIASUG) CEO Pay Fair?
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Gautam Dalmia is the CEO of Dalmia Bharat Sugar and Industries Limited (NSE:DALMIASUG). This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. After that, we will consider the growth in the business. And finally we will reflect on how common stockholders have fared in the last few years, as a secondary measure of performance. The aim of all this is to consider the appropriateness of CEO pay levels.
Check out our latest analysis for Dalmia Bharat Sugar and Industries
Our data indicates that Dalmia Bharat Sugar and Industries Limited is worth ₹8.5b, and total annual CEO compensation is ₹45m. (This is based on the year to March 2018). While we always look at total compensation first, we note that the salary component is less, at ₹40m. We took a group of companies with market capitalizations below ₹14b, and calculated the median CEO total compensation to be ₹1.3m.
Thus we can conclude that Gautam Dalmia receives more in total compensation than the median of a group of companies in the same market, and of similar size to Dalmia Bharat Sugar and Industries Limited. However, this doesn't necessarily mean the pay is too high. We can better assess whether the pay is overly generous by looking into the underlying business performance.
The graphic below shows how CEO compensation at Dalmia Bharat Sugar and Industries has changed from year to year.
Dalmia Bharat Sugar and Industries Limited has increased its earnings per share (EPS) by an average of 21% a year, over the last three years (using a line of best fit). In the last year, its revenue is down -9.9%.
This demonstrates that the company has been improving recently. A good result. Revenue growth is a real positive for growth, but ultimately profits are more important. Although we don't have analyst forecasts, you could get a better understanding of its growth by checking outthis more detailed historical graphof earnings, revenue and cash flow.
With a three year total loss of 8.3%, Dalmia Bharat Sugar and Industries Limited would certainly have some dissatisfied shareholders. It therefore might be upsetting for shareholders if the CEO were paid generously.
We compared the total CEO remuneration paid by Dalmia Bharat Sugar and Industries Limited, and compared it to remuneration at a group of similar sized companies. Our data suggests that it pays above the median CEO pay within that group.
However we must not forget that the EPS growth has been very strong over three years. Having said that, shareholders may be disappointed with the weak returns over the last three years. One might thus conclude that it would be better if the company waited until growth is reflected in the share price, before increasing CEO compensation. Shareholders may want tocheck for free if Dalmia Bharat Sugar and Industries insiders are buying or selling shares.
If you want to buy a stock that is better than Dalmia Bharat Sugar and Industries, thisfreelist of high return, low debt companies is a great place to look.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Wall Street Is in Love With This Oil Stock
Diamondback Energy(NASDAQ: FANG)has lots of adoring fans on Wall Street. That's evident by the fact that all 36 analysts who cover the Permian Basin oil producer have rated its stock a buy or something equivalent. That makes it just one of two companies in the entireS&P 500that have earned a unanimous buy rating from the Wall Street analysts who follow the company, according to research by CNBC.
While Diamondback Energy's growth prospects are the main reason analysts love it, they also see the increasing amount of cash it's returning to shareholders as an attractive feature.
Image source: Getty Images.
Diamondback Energy has been an oil growth machine since its initial public offering in late 2012. The Permian Basin-focused oil driller has increased its output by a jaw-dropping 785% during that time through a combination of acquisitions and organic drilling. However, what has set Diamondback Energy apart from other growth-focused oil stocks is that it hasn't been increasing production just so that it can get bigger. Instead, the company has focused on doing deals that are accretive on a per-share basis. That has enabled it to deliver an even bigger surge in earnings, which have zoomed more than 850% on a per-share basis over that time frame despite a 37% slump in oil prices.
Diamondback Energy still has plenty of fuel to continue growing at a rapid rate. Thanks to its prime position in the low-cost Permian Basin, the oil company can generate enough cash flow at $50 oil to drill 290 to 320 new wells this year, which should expand its oil output by another 30%. Meanwhile, with roughly 7,600 high-return drilling locations remaining, the company has the inventory to continue growing production at a high-octane rate for the next several years.
Analysts love this oil growth story. Piper Jaffray, for example, has an overweight rating on Diamondback's stock because "FANG's outlook is increasingly differentiated, with leading growth." Meanwhile,Wells Fargoreiterated its outperform call earlier this year by noting that "Diamondback Energy is positioned to provide both peer-leading growth and cash return to shareholders beginning in 2020." Others have similarly bullish views on the company thanks to its top-tier growth profile.
While Wall Street loves a good growth story, what has taken its affinity for Diamondback Energy up a notch is the growing gusher of cash it's sending back to investors. The oil producer started returning money to shareholders last year by initiating a dividend. However, the company has ramped up its cash returns this year. Not only did it increase its payout by 50%, but it also recentlyauthorizeda $2 billion share repurchase program, which is enough money to retire 11% of the oil company's outstanding stock.
Analysts absolutely adore that buyback.Bank of America, for example, responded by adding Diamondback to its US 1 List after the oil driller announced the share program. The bank said that it sees "a three-to-one risk/reward profile that is hard to ignore" thanks to the uplift from the "significant" buyback program.Raymond James, meanwhile, also took its bullishness up a notch by upgrading Diamondback Energy's stock from outperform to a strong buy. On top of that, Raymond James bumped up its price target from $145 a share up to $155, which is more than 50% above the current price. Others see similar upside as the company executes its strategic plan to deliver fast-paced oil growth while returning an increasing amount of cash to its investors.
Diamondback Energy offers investors the best of both worlds. Not only is the oil producer on track to deliver top-tier growth, but it's also starting to return a growing gusher of cash to investors through its dividend and needle-moving share repurchase program. Analysts firmly believe that those two factors should provide Diamondback Energy with the fuel to produce market-crushing total returns for investors over the next year. That's why they universally agree that investors should buy this oil stock.
More From The Motley Fool
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Matthew DiLallohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. |
33K pounds of cocaine seized in one of biggest US drug busts
PHILADELPHIA (AP) — U.S. authorities seized 33,000 pounds, or 15,000 kilograms, of cocaine from a ship at Philadelphia's port in what they described as one of the largest drug busts in American history. They said the haul could have been worth more than $1 billion on the street. The U.S. attorney's office in Philadelphia announced the massive bust on Twitter on Tuesday afternoon, saying that law enforcement agents found the cocaine on a ship at the Packer Marine Terminal. Two members of the crew were arrested and face federal charges. Agents with dogs swarmed the colossal ship Tuesday afternoon, including one officer who could be seen climbing into the back of a large red container on wheels. Court documents said the bust began Monday. An affidavit alleged that crew members helped load the cocaine onto the MSC Gayane while it was at sea off the west coast of South America. Citing an interview with one of the crew members, authorities said a total of 14 boats approached the vessel on two separate occasions during its voyage. Several crew members allegedly helped transfer bales of cocaine. The ship's second mate, Ivan Durasevic, and another crew member, Fonofaavae Tiasage, were charged with conspiracy to possess cocaine aboard a ship. An online court docket did not list attorneys for the defendants. It wasn't clear whether other crew members would face charges. The drug seizure is the latest in a series of large cocaine busts along the East Coast. In a March bust in Philadelphia, drug dogs sniffed out 1,185 pounds (538 kilograms) of cocaine worth about $38 million — at that time the city's largest seizure of the drug in more than two decades. In February, customs agents seized 3,200 pounds (1,451 kilograms) at the Port of New York and New Jersey with a street value estimated at $77 million. That was the largest cocaine bust at the ports since 1994. Online ship trackers said the vessel detained in Philadelphia sails under the flag of Liberia and arrived in Philadelphia after 5 a.m. Monday. The ship's previous ports of call were the Bahamas on June 13, Panama on June 9, Peru on May 24 and Colombia on May 19, records show. Story continues Federal authorities say Colombia is the primary supplier of cocaine to the U.S. The MSC Gayane's owner, MSC Mediterranean Shipping Co., said in a statement it was "aware of reports of an incident at the Port of Philadelphia in which U.S. authorities made a seizure of illicit cargo." The privately owned Swiss shipping company said it "takes this matter very seriously and is grateful to the authorities for identifying any suspected abuse of its services." Patrick Trainor, a spokesman for the U.S. Drug Enforcement Administration in Philadelphia, said that based on current prices in the area, the street value of the haul is around $525 million to well over $1 billion. Tuesday's seizure did not set a U.S. record. A 1989 bust in downtown Los Angeles netted almost 43,000 pounds (19,504 kilograms) of the drug. ___ Michael Rubinkam reported from northeastern Pennsylvania. ___ This story has been corrected to show that the MSC Gayane arrived to the Bahamas on June 13, not June 31. |
Xinyi Solar Holdings Limited (HKG:968): Time For A Financial Health Check
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While small-cap stocks, such as Xinyi Solar Holdings Limited (HKG:968) with its market cap of HK$35b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. Evaluating financial health as part of your investment thesis is vital, as mismanagement of capital can lead to bankruptcies, which occur at a higher rate for small-caps. The following basic checks can help you get a picture of the company's balance sheet strength. Nevertheless, this is not a comprehensive overview, so I recommend youdig deeper yourself into 968 here.
Over the past year, 968 has ramped up its debt from HK$7.9b to HK$8.8b , which accounts for long term debt. With this increase in debt, 968's cash and short-term investments stands at HK$981m , ready to be used for running the business. On top of this, 968 has generated cash from operations of HK$2.3b over the same time period, leading to an operating cash to total debt ratio of 26%, indicating that 968’s current level of operating cash is high enough to cover debt.
Looking at 968’s HK$6.7b in current liabilities, it seems that the business has been able to meet these commitments with a current assets level of HK$6.8b, leading to a 1.01x current account ratio. The current ratio is calculated by dividing current assets by current liabilities. For Semiconductor companies, this ratio is within a sensible range since there's a sufficient cash cushion without leaving too much capital idle or in low-earning investments.
968 is a relatively highly levered company with a debt-to-equity of 73%. This is somewhat unusual for small-caps companies, since lenders are often hesitant to provide attractive interest rates to less-established businesses. We can test if 968’s debt levels are sustainable by measuring interest payments against earnings of a company. Ideally, earnings before interest and tax (EBIT) should cover net interest by at least three times. For 968, the ratio of 9.95x suggests that interest is appropriately covered, which means that lenders may be willing to lend out more funding as 968’s high interest coverage is seen as responsible and safe practice.
Although 968’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised. This may mean this is an optimal capital structure for the business, given that it is also meeting its short-term commitment. I admit this is a fairly basic analysis for 968's financial health. Other important fundamentals need to be considered alongside. I suggest you continue to research Xinyi Solar Holdings to get a more holistic view of the small-cap by looking at:
1. Future Outlook: What are well-informed industry analysts predicting for 968’s future growth? Take a look at ourfree research report of analyst consensusfor 968’s outlook.
2. Valuation: What is 968 worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? Theintrinsic value infographic in our free research reporthelps visualize whether 968 is currently mispriced by the market.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Does Collins Foods Limited (ASX:CKF) Create Value For Shareholders?
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Today we are going to look at Collins Foods Limited (ASX:CKF) to see whether it might be an attractive investment prospect. In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business.
First of all, we'll work out how to calculate ROCE. Next, we'll compare it to others in its industry. Last but not least, we'll look at what impact its current liabilities have on its ROCE.
ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. In general, businesses with a higher ROCE are usually better quality. Ultimately, it is a useful but imperfect metric. Author Edwin Whitingsaysto be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.'
Analysts use this formula to calculate return on capital employed:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
Or for Collins Foods:
0.12 = AU$75m ÷ (AU$726m - AU$88m) (Based on the trailing twelve months to October 2018.)
Therefore,Collins Foods has an ROCE of 12%.
Check out our latest analysis for Collins Foods
ROCE can be useful when making comparisons, such as between similar companies. We can see Collins Foods's ROCE is around the 12% average reported by the Hospitality industry. Separate from Collins Foods's performance relative to its industry, its ROCE in absolute terms looks satisfactory, and it may be worth researching in more depth.
When considering this metric, keep in mind that it is backwards looking, and not necessarily predictive. Companies in cyclical industries can be difficult to understand using ROCE, as returns typically look high during boom times, and low during busts. ROCE is only a point-in-time measure. What happens in the future is pretty important for investors, so we have prepared afreereport on analyst forecasts for Collins Foods.
Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months. Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. To counter this, investors can check if a company has high current liabilities relative to total assets.
Collins Foods has total liabilities of AU$88m and total assets of AU$726m. As a result, its current liabilities are equal to approximately 12% of its total assets. Low current liabilities are not boosting the ROCE too much.
With that in mind, Collins Foods's ROCE appears pretty good. There might be better investments than Collins Foods out there,but you will have to work hard to find them. These promising businesses withrapidly growing earningsmight be right up your alley.
I will like Collins Foods better if I see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
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