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FactSet Reports Q3 Earnings Beats, Shares Rise
Financial data company FactSet Research Systems (NYSE: FDS ) reported quarterly earnings of $2.62 per share, which beat the analyst consensus estimate of $2.36. This is a 20.18% increase over earnings of $2.18 per share from the same period last year. The company reported quarterly sales of $364.5 million, which beat the analyst consensus estimate of $359.25 million. This is a 7.23% increase over sales of $339.911 million the same period last year. The company also added $210 million to its buyback. “FactSet’s ability to perform well this year amid sector and industry headwinds serves as a proof point that our long-term strategy is working,” said Phil Snow, FactSet CEO. “We are encouraged that our smarter, connected data and technology solutions continue to resonate with clients as we help them drive efficiency and increase value in an ever-changing environment.” View more earnings on FDS FactSet shares traded higher by 4% to $305.06 in Tuesday's pre-market session, just below the stock's 52-week high. Related Links: 7 Stocks To Watch For June 25, 2019 As Anticipation Firms For Trump/Xi Meeting, Focus Is On Earnings, Iran Tensions See more from Benzinga Lennar Trades Higher After Q2 Earnings Beat AbbVie To Acquire Allergan In B Deal PizzaRev Partners With Beyond Meat For New Topping Option © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
This 5G ETF Got Big In A Hurry
Leave it to First Trust to resuscitate an exchange traded fund that seemingly was on life support, reconfigure that fund and, more importantly, find a way of driving assets into that ETF.
What Happened
Just weeks after re-configuring a smartphone ETF into a 5G fund, theFirst Trust Indxx NextG ETF(NASDAQ:NXTG) is already the largest ETF dedicated to the 5G communications theme. NXTGdebuted on May 29.
As of June, the new 5G ETF had $131.5 million in assets under management, according to issuer data, a stunning turn of events for the fund formerly known as the First Trust Nasdaq Smartphone Index Fund.
Why It's Important
The First Trust Nasdaq Smartphone Index Fund was more than eight years old before Illinois-based First Trust cast that idea aside in favor of NXTG and it appears investors like the new idea. Based on where the First Trust Nasdaq Smartphone Index Fund was at in terms of assets on its last day of trading where NXTG is at today, investors have added more than $110 million to the new 5G ETF in just three weeks.
NXTG tracks the Indxx 5G & NextG Thematic Index and competes directly with theDefiance Next Gen Connectivity ETF's(NYSE:FIVG). Obviously, FIVG is the older of the two 5G ETFs, having debuted in March.
NXTG's 99 holdings, none of which exceed weights of 1.72%, including semiconductor makers, telecom gear manufacturers, real estate investment trusts and mobile telecom providers.
What's Next
Here is where the competition between FIVG and NXTG gets interesting and it speaks to just how stunning it is that the First Trust fund has over $131 million in assets under management.
First Trust's 5G ETF charges 0.70% per year, or $70 on a $10,000 investment. That might not seem bad for a thematic ETF, but it's more than double the 0.30% charged by the rival FIVG. That's a wide gap between two ETFs providing exposure to similar investment concepts.
Related Links:
Marvel At This MLP ETF
A Fantastic 5G ETF
See more from Benzinga
• Favorable Fundamentals For The 5G ETF
• Get Ready For Another Video Game ETF
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
Will Innovative Industrial Properties Continue to Surge Higher?
As of late, it has definitely been a great time to be an investorInnovative Industrial Properties, Inc.IIPR. The stock has moved higher by 2.7% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.
We certainly think that this might be the case, particularly if you consider IIPR’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as IIPR has earned itself a Zacks Rank #2 (Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company. You can seethe complete list of today’s Zacks #1 Rank stocks here.
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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 reportInnovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Crystal Lake Announces Signing of Arrangement Agreement to Create Sassy Spinout
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2019) - Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG-FF) (the " Company " or " Crystal Lake ") is pleased to announce that it has entered into an arrangement agreement dated June 25, 2019, with wholly-owned subsidiary Sassy Resources Corporation (" Sassy Resources " or " Sassy "). Crystal Lake will transfer to Sassy its Northwest Ontario nickel asset (Nicobat Project), and its Letter of Intent dated June 24, 2019, to acquire the Foremore claims in Northwest B.C.'s Golden Triangle, by way of a plan of arrangement pursuant to the Business Corporations Act of British Columbia. Sassy Resources will become a reporting issuer in the provinces of British Columbia and Alberta upon completion of the arrangement. Highlights: Pursuant to the arrangement, shareholders of Crystal Lake on the Share Distribution Record Date (to be determined) will receive a total of 10 million common shares of Sassy Resources; The spinout will keep Crystal Lake strategically focused on its Newmont Lake Project in the prolific Eskay Camp while CLM shareholders as of the record date will get ownership in an attractive new entity aimed at unlocking the value of the Nicobat Project and the Foremore claims; Following Crystal Lake shareholder approval and regulatory approvals of the arrangement, Sassy Resources will apply for listing on the TSX Venture Exchange. Richard Savage, President and CEO of Crystal Lake, commented: "Sassy will have a team and a brand that will excite investors and advance its projects in an efficient and bold way. We look forward to announcing the Sassy CEO in the very near future. Sassy also intends to complete a financing on its own before the completion of the arrangement for general working capital purposes including certain exploration initiatives." Nicobat and Foremore The Nocobat Project consists of the "Emerald Lake" assets, specifically the Iron Property, Farm Property, EL1 and EL5 Properties, and Properties #1, 2, 3, 4, 5, 7 and 8 and Property 6, located in Dobie, Kingsford, Mather, Potts and Tait townships, in the Dogpaw Lake and Heronry Lake areas of Emo, Ontario. Story continues The Letter of Intent with Lorne Warren dated June 24, 2019, includes the Foremore claims covering 145.3 sq. km adjacent to the northern boundary of Crystal Lake's Newmont Lake Project. Required Approvals The arrangement is subject to the approval of the Supreme Court of British Columbia, the approval by the Crystal Lake shareholders at an annual general and special meeting to be held on September 25, 2019 (the " Meeting "), and the approval by TSX Venture Exchange. Details of the arrangement will be provided in a management information circular that will be mailed to all Crystal Lake shareholders prior to the September 25 Meeting. At the Meeting, shareholders will be asked to vote on a special resolution approving the arrangement, among other resolutions. The arrangement will be posted on SEDAR under the profile of the Company. Share Distribution Record Date The Share Distribution Record Date will be determined by the board of directors of Crystal Lake and will be announced by way of a news release following required approvals. No outstanding warrants or options of Crystal Lake will be exchanged for the warrants or options of Sassy Resources. About Crystal Lake Mining Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the large Newmont Lake Project in the broader Eskay region in the heart of Northwest B.C.'s Golden Triangle. On Behalf of the Board of Directors, CRYSTAL LAKE MINING CORP. "Richard Savage" President & CEO Email: info@crystallakemining.com www.crystallakemining.com For further information please contact: Marketsmart Communications Adrian Sydenham Tel: +1 (604) 261-4466 Toll Free: +1 (877) 261-4466 Email: info@marketsmart.ca Chad Levesque Tel: +1 (306) 981-4753 Email: chad@marketsmart.ca Momentum PR Mark Turcotte Tel: +1 (514) 815-7473 Email: mark@momentumpr.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45866 |
Where Is Larry Page? Alphabet Deserves Better
(Bloomberg Opinion) -- At a meeting last week of Alphabet Inc. stockholders, a man lobbed a simple query at the company’s chairman: Where is the CEO?
Good question.
He was told that Larry Page, the head of Google’s parent company and its co-founder, wasn’t able to to come to the annual session with shareholders, who asked tricky questions about the company’s approach to artificial intelligence ethics, treatment of its contract workers and its impact on Bay Area home prices. Page wasn’t at last year’s annual meeting, either.
The stockholder sessions aren’t Page’s only glaring absence. It was news when Page and the company’s other founder, Sergey Brin, recently broke an unusually long attendance lapse at the traditional weekly Q&A for employees. U.S. lawmakers last year criticized Page for declining to appear at a hearing about exploitation of internet platforms. The senators’ outrage was a stunt, but they weren’t wrong to ask the same question as the Alphabet shareholder: Where is Larry Page?
Page has always been an idiosyncratic executive. Both before and after he became CEO eight years ago, Page tended to focus on product strategy and ceded policy matters, budget-setting, shareholder outreach and many day-to-day functions to others. That role was formalized with the 2015 creation of the Alphabet structure and the installation of operating CEOs under Page — principally Google leader Sundar Pichai.
The arrangement might have been a good idea at the time. But a storm is raging in Silicon Valley, and technology superpowers require accountable, visible and empowered leaders to advocate for their companies and assess the wider impact of their products. Instead, Alphabet has both a functional CEO in Pichai and a figurehead CEO who busies himself with far-off technology and is otherwise increasingly a ghost inside and outside of the company.
Pichai is a capable leader of Alphabet’s only relevant business segment. But as long as the status quo continues, there will always be that niggling question: What does Larry think? Where is he?
Page tended to shun the executive tasks he didn’t like, but he wasn’t always so hands-off. In early 2011, Page retook the CEO post he had given up in Google’s early years to Eric Schmidt, the hired hand and “adult supervision” for the young Page and Brin. For a while, Page was an active CEO, meeting with underlings and openly discussing efforts to slim bureaucracy and make Google operate more like a startup.
Over time and particularly after the 2015 debut of Alphabet, Page’s official duties seem to have narrowed to a pinprick. Maybe it was a conscious decision to give Pichai more authority. Maybe Page was limited by his voice — vocal cord damage had reduced the volume of his speaking voice. Maybe Page grew reliant on Schmidt, who until he stepped down as executive chairman in early 2018 handled policy issues and other public duties.
Whatever the reason, Page has been less actively involved as the personal and professional demands have increased for the other CEOs of U.S. technology superpowers. Facebook Inc.’s Mark Zuckerberg has become extremely practiced at apologizing. Jeff Bezos, the chief executive officer of Amazon.com Inc., had his personal life splashed in tabloid pages. Apple Inc.’s Tim Cook is at the White House so often he should have a West Wing frequent visitor card. Pichai is not the titular boss but has to do all the duties of one.(1) This is probably not what any of them imagined the job would be.
I’m sure Page continues to do what needs to be done. John Hennessy, the Alphabet chairman, said at the stockholder gathering that Page attends every board meeting and meets frequently with him and other directors. At an event last fall, Pichai said that Page is very involved and that the Alphabet structure of a big-picture CEO with operating executives has worked as intended.
Page’s role is to ponder future technologies, someone who pushes Alphabet to make big bets and scout promising talent. That’s essential to keep a technology company relevant. But does Page need to be the CEO of the world's fourth-largest public company to play this role?
And Page seems to want to have it both ways. He wants the power of a CEO to be able to award on his own a $150 million stock payout to an executive under investigation for sexual harassment, according to a lawsuit, but he doesn’t want the responsibility of a CEO to show up in front of sometimes unhappy employees at regular meetings, to face questions from annoyed shareholders or to absorb verbal blows from members of Congress. (Alphabet has disputed the lawsuit’s characterization of Page’s role in the stock award.)
As the technology industry faces growing government scrutiny, this may not be the time for a visionary, chimerical CEO. Everyone would like to do only the interesting parts of a job and skip the unpleasant or dull tasks. That’s not how adult life works, and that isn't how a public company should work, either.
(1) It's a pop psychology explanation, but I wonder if the structure unwittingly removes some authority from Pichai. At the stockholder meeting last week, Pichai sat oddly silent for more than 20 minutes while others tackled sometimes angry questions about matters such as Google's driverless car project, the company's approach to ethics in artificial intelligence and compensation for the company's army of contract workers. Pichai may not have the temperament to graciously interact with irked shareholders and employees, or pal around with Washington power brokers as Schmidt did. Or maybe Pichai has a little less swagger because he is ultimately not the boss.
To contact the author of this story: Shira Ovide at sovide@bloomberg.net
To contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.net
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.
For more articles like this, please visit us atbloomberg.com/opinion
©2019 Bloomberg L.P. |
Will Natural Gas ETFs Recover in the Near Term?
U.S. natural gas is at its lowest price level since May 2016. The U.S. Energy Information Administration reported last week that domestic supplies of natural gas rose 115 billion cubic feet for the week ended Jun 14, beating the average forecast of an increase of 104 billion cubic feet.The United States Natural Gas FundUNG is down 20% in the second quarter and is off 11.4% in the past month (read: Top and Flop ETFs of Last Week).
What Lies in the Medium-Term?
Four-year low natural gas prices aren’t likely to turn around materially until there is some forecast of inclement weather, which can boost demand for the commodity. The natural gas markets are extremely bearish owing to supply glut.
Some analysts believe that demand could pick up later in the year, around November.Winters are good times for natural gas investing. Normally, Arctic Chills give life to this commodity every winter. The cold snap boosts electricity demand across the region, putting focus on natural gas.
Near-Term Rally?
However, warmer-than-expected weather in July has boosted natural gas futures on Jun 24. Bespoke Weather Services forecast a hotter first week of July, though the firm indicated that trends were mixed over the weekend. As a result, UNG was up 4.8% on Jun 25.
ETFs in Focus
Overall, even if there is a near-term recovery, the natural gas is likely to take several months to appear as a great buying opportunity. So, investors need to be watchful aboutUnited States 12 Month Natural GasUNL, which lost 15.7% in the second quarter, but gained 4% on Jun 24. Leveraged natural gas ETFProShares Ultra Bloomberg Natural Gas BOILretreated 38.6% in the second quarter but rose 9.7% on Jun 24 (see all energy ETFs here).
It is worth noting that there is an equity play that targets the broad natural gas market in ETF form. The fund isFirst Trust ISE Revere Natural Gas Index Fund FCG, an ETF that holds about 40 stocks in its basket and charges investors 60 basis points a year in fees. The fund lost 17% in the second quarter and 0.9% on Jun 24 (see all Energy ETFs here).
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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 reportProShares Ultra Bloomberg Natural Gas (BOIL): ETF Research ReportsUS Commodity Funds United States 12 Month Natural Gas Fund LP (UNL): ETF Research ReportsFirst Trust Natural Gas ETF (FCG): ETF Research ReportsUS Commodity Funds United States Natural Gas Fund LP (UNG): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant 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 |
Ford, GM don’t make the most 'American-made’ car. Here's who does.
The majority of U.S. customers are eager to purchase an “American made”vehicle, but the bulk of the top 15 cars that contribute the most to theeconomyare actually produced byforeign automakers, according to a new ranking released on Tuesday.
The most American-made vehicle in 2019, which includes criteria such as the number of factory jobs and where parts are sourced, was the Jeep Cherokee, according to Cars.com annual ranking. While it is built in Belvidere, Illinois, Jeep is owned by Italian-American carmaker Fiat Chrysler.
Of the top 15, nine are manufactured by Japanese firms Honda or Toyota. Ford’s F-150 pickup is the only vehicle from the Dearborn-based company to make it on the list:
• Jeep Cherokee
• Honda Odyssey
• Honda Ridgeline
• Honda Passport
• Chevrolet Corvette
• Acura MDX
• Honda Pilot
• Chevrolet Colorado
• GMC Canyon
• Acura RDX
• Chevrolet Camaro
• Toyota Avalon
• Ford F-150
• Honda Accord
• Toyota Tundra
The automotive industry has been in a state of perpetual uncertainty as President Trump’s tariffs on steel and aluminum imports, along with an escalating trade war with China and an unclear path forward for a new trade agreement meant to update the North American Free Trade Agreement, has led top firms to reanalyze their complex global supply chains.
To-date, however, most companies that produce the vehicles on Cars.com’s “American-Made Index” (AMI) have not announced any major manufacturing changes, according to senior editor Kelsey Mays.
“It’s no small task to move supply chains, much less alter where a car or its major components are built – both factors that influence AMI rankings. Such actions take years to plan, negotiate and implement,” she said in a statement.
Older customers were more likely to care about purchasing a car that contributes the most to the U.S. economy, while 61 percent of those ages 18-34 listed it as a concern, according to an adjoining survey by Cars.com.
“Younger generations aren’t any less patriotic than past generations, but they likely don’t prioritize buying American to the same extent as their parents and grandparents because they grew up with imported brands and digital access to goods from all over the world their entire lives,” said Mays.
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Half of the respondents also said they were concerned about the potential for new tariffs on the industry. Alongside the existing duties, the White House is weighing whether to impose a blanket tariff on auto imports to the U.S.
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Airbnb’s New Luxe Tier Includes a $1 Million Polynesian Island
(Bloomberg) -- Gone are the days of air mattresses on the floor. Airbnb Inc. is now catering to the mega-wealthy with a new tier of luxury rentals.
Airbnb Luxe went live Tuesday morning after long being teased, with 2,000 new listings on Airbnb’s website offering guests the chance to stay in some of the world’s most extravagant homes. Everything from entire islands to medieval castles and mansions decked out with water slides, dinosaur skulls, and archery ranges are up for rent.The average luxury listing has an asking price of $14,000 a week—but can go as high as $1 million a week for a private atoll near Tahiti that comprises 21 bungalows and a staff of 50.
Luxury travelers have been eyeing high-quality home-rentals for a while, says Nick Guezen, Airbnb’s global director of portfolio strategy. But the market hasn’t offered enough security to high-profile and mega-rich clients who seek privacy, he says. “I think that's something that was missing—the idea of ‘I want to travel to a luxury home, but I’m not sure where to find it or who to trust.’”
Which is not entirely the case, considering Accor SA-owned Onefinestay, the second-home rental platform ThirdHome, and apartment-rental company Paris Perfect are all established competitors in the space. And Airbnb Luxe itself is essentially a re-branding of Luxury Retreats, a Canadian company that specializes in high-quality listings and was acquired by Airbnb in 2017 for around $300 million. None of the listings on Luxe are new to market, they just now sit under the Airbnb umbrella.
The company is betting on the strength of its brand to give it the competitive edge.
“People are growing up with Airbnb,” said Eshan Ponnadurai, global marketing director of luxury for Airbnb. “Someone that started in their early 20s renting a room at $100 a night and is now growing in affluence may want a room at $1,000 a night.”
Because Airbnb has become part of the cultural dialogue, renting out your home to a stranger has become legitimized in a sociological sense as well—even to the super-rich, says New York University Professor Arun Sundararajan, an expert on the sharing economy. In the past, those who own multimillion dollar properties might have been reticent to share them with strangers, but today most people know someone who has stayed in an Aribnb, he says. “It feels like a more normal activity and that lowers the barriers to rent out a more expensive home.”
In 2017, only 36 percent of affluent travelers (those with an income over $100,000) surveyed by Skift Research reported to staying in alternative accommodation or home rentals. This year that number has mushroomed to 59 percent.
Luxury Legitimacy
Since its founding in 2008, Airbnb has upended the travel industry, challenging the big hotel chains and travel sites like Booking Holdings Inc. while also attracting the ire of cities around the world that are seeking to crack down on illegal listings and grappling with rising rents.
Conquering the luxury rental market will allow Airbnb to sell itself as a company that can not only comply with official rules, but also cater to the world’s richest—and most demanding— travelers. “This is a way for a luxury traveler to book a home without any worries or hassle,” Guezen says. “We can give them something that is vetted and can be trusted.”
In April, it took over 10 floors of New York’s 75 Rockefeller Plaza with plans to convert them into 200 overnight apartment-style suites. In May, Airbnb added high-profile luxury retail executive Angela Ahrendts to its board of directors. Ahrendts, 58, spent five years overhauling Apple Inc.’s retail operations and, prior to that, transformed Burberry into a global luxury brand.
This new luxury tier represents a lucrative revenue source as well, even if Luxe’s 2,000 listings pale in proportion to the more than 6 million listings available on the general site. The company takes a percentage of the cost of each booking it arranges, so more-expensive inventory generates higher margins and helps justify the privately held company’s $31 billion valuation. Under Airbnb Luxe, the entire fee is coming from the host and the percentage depends on the market and the type of partnership arranged with homeowners, Guezen says, but declines to give any specifics as the fees vary too much between properties. The global luxury travel market is worth more than $200 billion, and analysts expect it to continue growing.
Trip Designers
The biggest difference booking under Luxe vs. Airbnb’s regular or higher-tier Plus listings is free access to a trip designer, who arranges check-in logistics, local bespoke experiences, and services from childcare to private chefs or in-house massage therapists. (While novel for Airbnb, this sort of high-touch service, similar to that provided by Onefinestay’s dedicated concierges, is standard in super-high-end home rentals.)
Airbnb’s 20 trip designers will be available to guests around-the-clock for VIP support. Some have already handled bizarre requests during Luxe’s pilot phase, such as building a temporary basketball court in Los Cabos, Mexico, for an NBA player or cordoning off a section of a jungle in Tulum for a high-profile family to cave dive in private.
Homeowners or their representatives must apply to be part of Luxe. Each property is reviewed by an internal team that runs through a 300-point check list scrutinizing everything from the home’s design qualities and architecture to the quality of its linen and the water pressure in its showers. Listings include the Fleming Villa in Jamaica where Ian Fleming penned his James Bond novels and a medieval castle in the Tuscan countryside with nearly 100 acres of land for hiking and harvesting local produce.
Many of the homes are owned by megawealthy families, including billionaires and celebrities, Guezen says. Some own multiple properties around the world and rent up to half a dozen through the site, he says. In order to protect the host’s privacy, guests are never told who owns the property and each home is stripped of anything that could personally identify them, like a bedside photograph or snail mail. Staff are advised not to disclose the identity of hosts or guests and each property is insured by Airbnb’s standard $1 million guarantee to cover any damages. Guezen says these super-rich hosts rent out their vacation retreats not only to monetize their assets, but also to ensure that the properties are well-oiled for their own stays.
The move into luxury rentals is the next step in Airbnb’s plan to diversify its business ahead of an initial public offering likely next year. The company has been working toward becoming an end-to-end travel platform that can one day help travelers book flights through the site. Earlier this month it expanded its Experiences platform to include adventure tourism, offering travelers the chance to search for UFOs in Arizona or track lions on foot with Samburu guides in Kenya.
Airbnb says the launch of Luxe helps meet increasing demand for luxury properties. In 2018, the number of Airbnb bookings for listings worth at least $1,000 a night increased by more than 60 percent, according to the company. “Today’s luxury traveler is craving more than just high-end accommodations,” Airbnb Chief Executive Officer Brian Chesky said in a statement. “They seek transformation and experiences that leave them feeling more connected to each other and to their destination.”
Example Luxe Listings
Caribbean Literary HavenYou can book a stay at the Fleming Villa in Orcabessa, Jamaica, where Ian Fleming found inspiration for his James Bond novels. In addition to five bedrooms, there’s a private swimming pool and access to the Caribbean, along with the use of amenities at the nearby GoldenEye Resort, such as tennis, yoga and a spa. The open-plan bungalow layout features bamboo furnishings, high ceilings, and large windows. $4,455 per night; three-night minimum
Cote d’Azur VillaThis nine-bedroom, 18-bath property gives you access to Cannes, France, the Mediterranean, and nearby mountains. There’s a wine cellar, library, infinity pool with pool bar, and a terrace. The interiors have a serene tone with neutral colors and white sofas, and an included private chef and housekeepers ensure that you don’t have to lift a finger while on vacation. $13,265 per night; 30-night minimum
Mexican Beach EscapeThis hacienda-style villa in San Jose Del Cabo, Mexico, has six bedrooms and eight and a half baths for up to 15 guests. It has a waterslide descending into a curving infinity pool as well as an ocean-view terrace and and on-call, in-house masseuse. $3,200 per night; four-night minimum
Entire Island ResortNukutepipi, a private island in French Polynesia, features multiple houses and bungalows surrounded by palm forests and white-sand beaches. The staff includes a chef, captain, doctor, massage therapist, and activity coordinators. There’s a master villa and 15 guest houses with a total of 21 bedroom suites, making it perfect for weddings or group retreats. $146,183 per night; seven-night minimum
To contact the authors of this story: Olivia Carville in New York at ocarville1@bloomberg.netClaire Ballentine in New York at cballentine@bloomberg.net
To contact the editor responsible for this story: Justin Ocean at jocean1@bloomberg.net
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
Who are the best CEOs for women workers? Big tech leaders fall in new ranking
In a job market where women make80-cents for every dollar a man earns, female workers say they want leaders who care about inclusivity, diversity and maternity leave, among other employee benefits.
Comparably, a career monitoring website, released a list Monday that spotlights the workforce leaders who are getting it right, according to women workers.
Comparably compiled data from female staffers among a pool of more than 50,000 U.S. companies and found the CEOs who ranked highest for women included the heads of the software companies Workfront and HubSpot, the IT service firm Insight Global and retailer Costco.
T-Mobile's John Legere was ranked best CEO among large companies.
"John (Legere) consistently ranked on Comparably as one of the absolute best leaders across many categories," said Comparably CEO Jason Nazar, who added that workers on Legere's team say the CEO is supportive of a wide range of benefits that affect women including parental leave and hiring a diverse pool of workers.
Gen Z salaries:Highest paid tech jobs for recent grads
Best places to work:Google, Microsoft and Starbucks rank highest in the U.S.
Compared to Comparably's 2018 list, most rankings for CEOs of major tech companies slid further from the top.
Microsoft’s Satya Nadella, who ranked second last year, now ranks 19th overall. Apple’s Tim Cook fell from the 20th spot to number 32. Facebook's Mark Zuckerberg slumped from 19th place to 29th, while Amazon’s Jeff Bezos is ranked the 47th this year, compared with the 24th position last year.
The CEO rankings likely dropped due to mounting privacy concerns, according to Nazar, who noted that public issues could negatively impact employee perception of the leadership team.
Large companies with 500 or more employees ranked highest to lowest
1. John Legere,T-Mobile (Bellevue, WA)
2. Alex Shootman, Workfront (Lehi, UT)
3. Brian Halligan, HubSpot (Cambridge, MA)
4. Bert Bean, Insight Global (Atlanta, GA)
5. W. Craig Jelinek, Costco (Issaquah, WA)
6. Kelly Caruso, (Shipt Birmingham, AL)
7. Martin Migoya,Globant (San Francisco, CA)
8. Daniel Dines,UiPath (New York, NY)
9. Cathy Engelbert,Deloitte (US) (New York, NY)
10. Ed Bastian,Delta Air Lines (Atlanta, GA)
11. Mark Mader,Smartsheet (Bellevue, WA)
12. Doug Mack,Fanatics (Jacksonville, FL)
13. Carlos Rodriguez,ADP (Roseland, NJ)
14. Sasan Goodarzi,Intuit (Mountain View, CA)
15. Frances Allen,Boston Market (Golden, CO)
16. James M. Loree,Stanley Black & Decker (New Britain, CT)
17. Charles Butt,H-E-B (San Antonio, TX)
18. Ryan Smith,Qualtrics (Provo, UT)
19. Satya Nadella,Microsoft (Redmond, WA)
20. Sundar Pichai,Google (Mountain View, CA)
21. Lynn Jurich,Sunrun (San Francisco, CA)
22. John Van Siclen,Dynatrace (Waltham, MA)
23. Bryce Maddock,TaskUs (Santa Monica, CA)
24. Amy Zupon,Vertafore (Denver, CO)
25. J. Allen Brack,Blizzard Entertainment (Irvine, CA)
26. Sam Gilliland,Cherwell Software (Colorado Springs, CO)
27. Colin Doherty,Fuze (Boston, MA)
28. Scott Wagner,GoDaddy (Scottsdale, AZ)
29. Mark Zuckerberg,Facebook (Menlo Park, CA)
30. Craig Menear,The Home Depot (Atlanta, GA)
31. Steven Berglund,Trimble (Sunnyvale, CA)
32. Timothy Cook,Apple (Cupertino, CA)
33. Julie Sweet,Accenture (US) (New York, NY)
34. William Wagner,LogMeIn (Boston, MA)
35. David Katzman,SmileDirectClub (Nashville, TN)
36. Jeff Weiner,LinkedIn (Sunnyvale, CA)
37. Dara Khosrowshahi,Uber (San Francisco, CA)
38. Marillyn Hewson,Lockheed Martin (Bethesda, MD)
39. Robert Quattrocchi,Northside Hospital (Atlanta, GA)
40. Steve Hare,Sage (Atlanta, GA)
41. Adam Miller,Cornerstone OnDemand (Santa Monica, CA)
42. Kathy Warden, Northrop Grumann Corp (Falls Church, VA)
43. Frederick Smith,FedEx (Memphis, TN)
44. Dan Curtis,BNSF Logistics (Flower Mound, TX)
45. Gail Boudreaux,Anthem, Inc. (Indianapolis, IN)
46. Jonathan Neman,Sweetgreen (Culver City, CA)
47. Jeff Bezos,Amazon (Seattle, WA)
48. Tom Bene,Sysco (Houston, TX)
49. Corie Barry/Hubert Joly,Best Buy (Richfield, MN)
50.Richard Fairbank,Capital One (McLean, VA)
Small / midsize companies with fewer than 500 employees ranked highest to lowest
1. David Cancel,Drift (Boston, MA)
2. Robert WahbeHighspot (Seattle, WA)
3. Ariel CohenTripActions (Palo Alto, CA)
4. Mahe BayireddiPhenom People (Ambler, PA)
5. Scott Wolfe, Jr.Levelset (New Orleans, LA)
6. Sarah NahmLever (San Francisco, CA)
7. Christian GormsenEargo (San Jose, CA)
8. Giuseppi Incitti,Sitetracker (Palo Alto, CA)
9. Christine Crane,BoldLeads (Chandler, AZ)
10. Mark Faggiano,TaxJar (Woburn, MA)
11. Aaron Johnson,APS Payroll (Shreveport, LA)
12. Greg Besner,CultureIQ (New York, NY)
13. Jeffrey Rubenstein,SmartProcure/GovSpend Deerfield (Beach, FL)
14. Ryan Christoi,KRT Marketing (Lafayette, CA)
15. Alexander Austin,Branch Metrics (Redwood City, CA)
16. Kyle Porter,SalesLoft (Atlanta, GA)
17. Brooke LeVasseur,AristaMD (La Jolla, CA)
18. Ryan Malone,SmartBug Media (Newport Beach, CA)
19. Francis Davidson,Sonder (San Francisco, CA)
20. Beth Trejo,Chatterkick (Sioux City, IA)
21. Gavan Thorpe,Boostability (Lehi, UT)
22. Shafat Qazi,BQE Software (Torrance, CA)
23. Chris Bennett,Wonderschool (San Francisco, CA)
24. Chris Litster,Buildium (Boston, MA
25. Daniel Chait,Greenhouse Software (New York, NY
26. Didier Elzinga,Culture Amp (San Francisco, CA
27. Amit Jnagal,Infrrd (San Jose, CA)
28. Steve Carlson,ForwardLine Financial (Woodland Hills, CA)
29. John Lauer,Zipwhip (Seattle, WA)
30. Sean Kelly,SnackNation (Culver City, CA)
31. Sujata Varma,Diverse Lynx (Princeton, NJ)
32. Renaud Laplanche,Upgrade (San Francisco, CA)
33. Whitney Wolfe Herd,Bumble (Austin, TX)
34. Karl Mehta,EdCast (Mountain View, CA)
35. Jamie Rapperport,Eversight (Palo Alto, CA)
36. John Benson,Verisys Corporation (South Jordan, UT)
37. Harry Glaser,Periscope Data (San Francisco, CA)
38. Stéphane Donzé,AODocs (San Francisco, CA)
39. Ben Peterson,BambooHR (Lindon, UT)
40. Drew Uher,HomeLight (San Francisco, CA)
41. John Wise,InvestCloud (West Hollywood, CA)
42. Dustin Moskovitz,Asana (San Francisco, CA)
43. Brian Hartnack,Archer Education (Los Angeles, CA)
44. Jim Lawson,AdTheorent (New York, NY)
45. Amir Movafaghi,Mixpanel (San Francisco, CA)
46. Elizabeth Cholawsky,HG Insights (Santa Barbara, CA)
47. Chris Hulls,Life360 (San Francisco, CA)
48. John Beatty,Clover Network (Sunnyvale, CA)
49. Simon Anderson,Mission (El Segundo, CA)
50. Robert Blatt,MomentFeed (Santa Monica, CA)
Comparably Awards are derived from sentiment ratings provided by employees who anonymously rated their CEOs on Comparably.com between June 7th, 2018 and June 7th, 2019. There were no fees or costs associated with participating, nor was nomination required. The answer to each question was given a numerical score and then compared to companies of similar size across the U.S. Additional weight was given to scores at companies with more participation from their employee base.
Contributing: Dalvin Brown.
Follow Frances Yue on Twitter: @FrancesYue_.
This article originally appeared on USA TODAY:Who are the best CEOs for women workers? Big tech leaders fall in new ranking |
It Could Take More Than a Century to Close the Computer Science Gap: Broadsheet
Good morning, Broadsheet readers! The young women of TikTok are fighting back against creepy older men, the media isn’t paying much attention to E. Jean Carroll’s accusations, and we need a few years to close the CS gender gap—like at least 100 of them. Enjoy your Tuesday.
1. EVERYONE’S TALKING•One hell of a gap.A new study from Allen Institute for Artificial Intelligence, a research lab in Seattle, finds that when it comes to closing the gender gap in computer science, we may be even further away than we thought.To gauge the state of the gap, the researchers concentrated on the number of computer science research papers published between 1970 and 2018, breaking down the authors by gender. For a sense of what they discovered, consider 2018, when the number of male authors was about 475,000 compared to 175,000 women.Frankly, I worry that I’m getting numb to such studies, since we’ve seen so many predicting that X or Y metric of gender parity won’t be reached until the year 20-something-super-far-away-sounding. But it turns out that even someone who makes a living covering such things can be chilled by the results—as I was by these linesfrom the NYT storyabout the study:undefinedSo, in other words, the best we can realistically hope for is to close the gap in more than a century. The Times does a good job of laying out why the Allen Institute chose to focus on academic publishing—most of the big industry players publish their research in the same journals, and “academia is also where the next generation of tech workers are taught.”As to why we should all be worried about this century-sized gap, think about just how reliant we have become on the devices and algorithms that power our lives. Now consider the gender bias that tends to creep into these technologies when they’re built by men or all-male teams. Then there’s the macro effect: tech’s growing importance in the world of big business means that, if the industry leaves women behind, the economy will too.Kristen Bellstrom@kayelbeekristen.bellstrom@fortune.com
2. ALSO IN THE HEADLINES•TikTok’s dark side.Perhaps not surprisingly, TikTok, the year’s fastest-growing social media app, has a dark side: sexual predation, specifically, older men who lurk on the app harassing the young women who make up one of its largest user groups. To fight such behavior, women are banding together in a DIY effort to collect “allegations and evidence of sexual misconduct, blasting it out across YouTube, Instagram, and Twitter, bagging and tagging the older men trying to prey on them.”Buzzfeed•Quiet about Carroll.AfterMedia Matters chronicledhow few major news organizations covered E. Jean Carroll’s accusation that President Trump raped her 23 years ago, many wondered why exactly, the media was so quiet on the story. (Trump denies the claims.)Vox, for one, speculatedthat the problem is, at least partially, a more overarching one: “How do you cover a president whose shocking actions on so many fronts threaten to overwhelm the normal apparatus of journalism—and overload the public’s ability to care?”•Knowing her value.In this spicy Q+A, Jessica Chastain calls on Hollywood to highlight more diverse voices, talks about industry’s attempts to silence women, and urges her fellow actors to “understand that it isn’t that difficult to put something together where the control can go to the creatives instead of to an executive who’s deciding which women are valuable, and before which age.”New York Times•Truth!If you haven’t yet caught Lizzo’s glorious performance of “Truth Hurts” at the BET Awards on Sunday, now is the time! Full video here:CNNMOVERS AND SHAKERS: Ann Sarnoff,who was most recently president of BBC Studios Americas,has been named CEO and chairwoman of Warner Bros. Peloton names Amazon vetMariana Garavagliaits first chief people officer. Robinhood has promotedGretchen Howardto chief operating officer. Moda Operandihas hiredMing Yangas managing director, China.
3. IN CASE YOU MISSED IT•Women’s soccer scores.With World Cup fever building, this story argues that women’s soccer is finally at the “verge of going mainstream” for two reasons: “First, the quality of play in the women’s game has improved drastically, especially since the last tournament. Second, money is starting to flow into women’s teams, making professional careers more viable.”The Economist•Gillibrand on guns.The story of Jennifer Pryear, whose daughter, Nyasia Pryear-Yard was fatally shot in 2009, reportedly changed Kirsten Gillibrand’s mind on gun control. But years after the two women met, questions remain about Gillibrand’s follow-up on the commitments the senator made to the mother and her Brooklyn community.Washington Post•Crappy behavior.The FBI is reportedly looking into whether lab-testing startup uBiome, led by co-CEOs Jessica Richman and Zac Apte, used improper billing codes in claims and sought payment for unnecessary tests in order to boost revenues.WSJShare today’s Broadsheetwith a friend.Looking for previous Broadsheets?Click here.
4. ON MY RADARHow the U.S. beat Spain at the Women’s World CupNew York TimesMuslim women defy ban to swim in burkinis at French poolBBCThe wild ride at Babe.netThe CutMaine House speaker to challenge GOP senator Susan CollinsBloomberg
5. QUOTEIs your stock up? Are you doing really well? Are you bringing a lot of value to the table? Are you putting a lot of points on the board? That’s good timing.Author and 'Morning Joe' co-host Mika Brzezinski |
UPDATE 3-Akorn gets FDA warning letter for another manufacturing plant
(Updates shares)
By Aakash B
June 25 (Reuters) - Akorn Inc said on Tuesday it received a warning letter from the U.S. Food and Drug Administration regarding its manufacturing facility in New Jersey, the latest in a string of setbacks for the generic drugmaker.
Shares of the company were down 1% at $4.67 in afternoon trading. They had fallen nearly 13% in trading before the opening bell on the news.
The FDA warning is the second that Akorn has received this year and follows an inspection of the company's Somerset, New Jersey-based plant in July and August 2018.
In January, the agency issued a warning letter for Akorn's other manufacturing plant in Decatur, Illinois after the drugmaker did not resolve previously highlighted violations such as failure to follow procedures to prevent contamination of drugs produced at the plant.
RBC Capital Markets analyst Randall Stanicky said the New Jersey plant is linked to less than 10% of products manufactured by Akorn, and the company's primary focus would remain on moving past the warning letter it received for its Illinois facility.
The warning letter would likely require Akorn to carry out inspections, but should not impact production at the facility, Stanicky said in a note.
The FDA had also raised concerns about an Akorn manufacturing facility in Amityville, New York, earlier this year.
In addition to troubles at certain manufacturing plants, the company has seen the departure of its Chief Executive Officer Raj Rai, following its inability to salvage a $4 billion takeover deal with Germany's Fresenius SE & Co KGaA.
The company shares have fallen 70.5% over the past 12 months.
Akorn on Tuesday said it will work to resolve all issues raised in the agency's letter and that it expects to continue production at the Somerset facility. (Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Shailesh Kuber) |
Is Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH) A Volatile Stock?
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If you're interested in Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories. First, we have company specific volatility, which is the price gyrations of an individual stock. Holding at least 8 stocks can reduce this kind of risk across a portfolio. The other type, which cannot be diversified away, is the volatility of the entire market. Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market.
Some stocks see their prices move in concert with the market. Others tend towards stronger, gentler or unrelated price movements. Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider. To make good use of it you must first know that the beta of the overall market is one. Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.
See our latest analysis for Motor Oil (Hellas) Corinth Refineries
Looking at the last five years, Motor Oil (Hellas) Corinth Refineries has a beta of 0.83. The fact that this is well below 1 indicates that its share price movements haven't historically been very sensitive to overall market volatility. If history is a good guide, owning the stock should help ensure that your portfolio is not overly sensitive to market volatility. Beta is worth considering, but it's also important to consider whether Motor Oil (Hellas) Corinth Refineries is growing earnings and revenue. You can take a look for yourself, below.
With a market capitalisation of €2.6b, Motor Oil (Hellas) Corinth Refineries is a pretty big company, even by global standards. It is quite likely well known to very many investors. When large companies like this one have a low beta value, there is usually some other factor that is having an outsized impact on the share price. For example, a business with significant fixed regulated assets might earn a reasonably predictable return, regardless of broader macroeconomic factors. Alternatively, lumpy earnings might mean minimal share price correlation with the broader market.
The Motor Oil (Hellas) Corinth Refineries doesn't usually show much sensitivity to the broader market. This could be for a variety of reasons. Typically, smaller companies have a low beta if their share price tends to move a lot due to company specific developments. Alternatively, an strong dividend payer might move less than the market because investors are valuing it for its income stream. In order to fully understand whether MOH is a good investment for you, we also need to consider important company-specific fundamentals such as Motor Oil (Hellas) Corinth Refineries’s financial health and performance track record. I urge you to continue your research by taking a look at the following:
1. Future Outlook: What are well-informed industry analysts predicting for MOH’s future growth? Take a look at ourfree research report of analyst consensusfor MOH’s outlook.
2. Past Track Record: Has MOH been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of MOH's historicalsfor more clarity.
3. Other Interesting Stocks: It's worth checking to see how MOH measures up against other companies on valuation. You could start with thisfree list of prospective options.
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. |
NASA just witnessed its biggest methane gas emission on Mars
NASA hasconfirmedthat the Curiosity rover recentlydetectedthe "largest amount of methane ever measured during the mission." The levels were enough to pause the rover's activities as scientists sought more answers: Methane is a gas typically produced by life as we know it, after all, and it could be a sign of life on the planet. Curiosity's methane reading came to 21 parts per billion units by volume, which is thrice the amount it sniffed out during a surge in 2013.
During a follow-up test over the weekend, though, scientists found that the methane levels around the rover already dropped sharply. Curiosity detected normal methane levels (1 part per billion by volume) following the sudden elevation, suggesting that the abnormally high values came from transient methane plumes. So, what does that mean? Well, Paul Mahaffy, the principal investigator for Curiosity's Sample Analysis at Mars instrument,saidduring a townhall event: "A plume came and a plume went."
Curiosity unfortunately doesn't have the instruments to determine whether the source of methane is biological or geological. Further, scientists have yet to figure out a pattern for Martian's transient plumes. In other words, they're still nowhere close to unraveling the planet's methane mystery. They need to gather more information through Curiosity and from other missions to gain a deeper understanding of the plumes. When they finally understand where the plumes are coming from, maybe then they can figure out whether the presence of methane on the red planet truly is a sign of life.
Ashwin Vasavada, Curiosity project scientist at NASA's JPL, said:
"The methane mystery continues. We're more motivated than ever to keep measuring and put our brains together to figure out how methane behaves in the Martian atmosphere." |
Agriculture secretary says U.S. farmers are 'casualties' of trade war - CNN
WASHINGTON (Reuters) - U.S. Agriculture Secretary Sonny Perdue acknowledged that American farmers are "casualties" of President Donald Trump's trade war with China, according to an interview broadcast on Tuesday.
Perdue told CNN he did not expect a trade deal to be reached when Trump meets with Chinese President Xi Jinping this month at the G20 summit in Japan but hopes one can be struck by the end of the year.
The Trump administration has designated aid for farmers, a key constituency that helped carry the Republican to his 2016 electoral win, but they still have been among the hardest hit from the trade dispute with China.
"I think they are one of the casualties with trade disruption, yes," Perdue told CNN. "We knew going in that when you flew the penalty flag on China, the retaliation, if it came, would be against the farmer.
"I've told the president - and the president understands - you can't pay the bills with patriotism," Perdue told CNN. "We know that and certainly he knows that. That's why he's trying to supplement the damage they're having from trade disruptions with market facilitation."
The Trump administration last month unveiled a $16 billion aid package for farmers to offset losses from the 10-month trade war with China. Payment rates to farmers would be determined by where they farm rather than what crops they grow.
The trade dispute, which escalated this month after Washington and Beijing raised tariffs on imports of each other’s goods, has left U.S. farmers sitting on record volumes of soybeans with China halting purchases. China once was a destination for more than 60 percent of U.S. soybean exports.
(Reporting by Doina Chiacu; Editing by Chizu Nomiyama and Bill Trott) |
Petrofac loses out on $10 billion in contracts as SFO probe drags on
By Pushkala Aripaka and Shariq Khan
(Reuters) - Oilfield services provider Petrofac lost out on $10 billion worth of contracts globally due to a probe by Britain's Serious Fraud Office into dealings in Saudi Arabia and Iraq, its finance chief said on Tuesday.
Petrofac shares, which have lost nearly half of their value since the SFO first announced its probe in 2017 as part of a wider investigation into Monaco-based oil and gas consultancy Unaoil, fell as much as 6.4%.
In February, the SFO said Petrofac's former head of sales, David Lufkin, had pleaded guilty to 11 counts of bribery related to oil deals in Iraq and Saudi Arabia. The SFO said it was continuing its investigation into Petrofac's use of agents in jurisdictions including the two countries.
The British company was in the process of bidding for contracts when the SFO announced charges against Lufkin.
"The timing of those bids coincided with the SFO's announcement... that inevitably ... raised concerns amongst all stakeholders," Chief Financial Officer Alastair Cochran said on a call with analysts on its trading update.
He said the announcement led to the loss of an estimated $2 billion to $3 billion worth of orders from Saudi Arabia and Iraq in the first half of the year and some $10 billion worth of deals were not considered by clients.
The company - which designs, builds, operates and maintains oil and gas facilities - has major operations in the Middle East and contracts from the region are critical to operations.
The projects named in the SFO's statement in February included Petrofac's engineering contracts for the Petro Rabigh petrochemical plant, partly owned by Saudi Aramco, and Aramco's Jazan refinery in 2012.
HANDICAPPED
While the company has not been charged, the investigation has hammered its shares over the past two years.
Credit Suisse analysts said that while the SFO resolution will be a potential major catalyst for Petrofac, the bigger worry for investors would be the company's license to operate across its core Middle East markets.
"Petrofac is currently handicapped by not seeing any awards from either Saudi (Arabia) or Iraq in the first half of 2019 and we have limited expectation for the second half," JP Morgan analysts said.
Saudi Arabia and Iraq accounted for 17% of overall contract revenue in 2018.
The company said it managed to sign multiple contracts, booking $1.7 billion in new orders so far this year. In 2018 as a whole, Petrofac's new order intake was $5.04 billion.
"We continue to enjoy excellent relationships with those clients and indeed with all our clients across our portfolio ... I want to make quite clear that we have not been banned from any territory in our portfolio," Cochran said.
The company said trading was in line with expectations and it was well-positioned for the second half with good revenue visibility and high levels of tendering activity.
(Reporting by Pushkala Aripaka and Shariq Khan in Bengaluru; editing by Bernard Orr and Emelia Sithole-Matarise) |
Facebook's Libra: UBS has 'more questions than answers'
Facebook CEO Mark Zuckerberg speaks during the annual F8 summit in San Jose, California. Photo: Josh Edelson/AFP/Getty Images Big questions remain about governance and the regulation of Facebook’s new cryptocurrency project Libra , according to UBS. “We are neither bullish nor dismissive of the Libra project given a lot of details about it are needed first,” UBS said in a note sent to clients this week. “Despite its unique characteristics, we have more questions than answers on Libra at this stage given the uncertainties around its governance and regulations,” a team of analysts led by Sundeep Gantori wrote. READ MORE: Facebook's cryptocurrency project is called Calibra, will launch in 2020 Libra has been spearheaded by Facebook ( FB ), but is backed by over 25 top tech and payment giants, including Visa ( V ), MasterCard ( MA ), PayPal ( PYPL ), eBay ( EBAY ), Spotify ( SPOT ), and Uber ( UBER ). All the backers will be equal members of the Libra Association, a new Geneva-based not-for-profit set up to govern the project. A key question highlighted by Gantori and his team include how members of the Libra Association “plan to align their interests and work together,” as well as how they will move to a more decentralised system in the future. Another unknown is “how the currency can be independent without major privacy and security challenges,” UBS wrote. Gantori and his team also note, “It is not clear to us how Libra can comply to regulations across the globe given the initial pushback.” Libra’s launch met an immediate backlash from regulators and politicians in the US and Europe . The G7 nations launched a joint inquiry into the risks of new cryptocurrencies like Libra and Rep. Maxine Waters, chair of the house of representatives’ financial services committee, called for an immediate pause to Facebook’s development efforts. READ MORE: Facebook's 'significant' Libra under scrutiny from new UK task force UBS said the project may face even bigger hurdles in Asian markets, where Libra will likely be targeting. “China, India, and Indonesia account for 30% of the 1.7 billion unbanked population globally where crypto regulations are very tough, so it remains to be seen how Libra can succeed in these markets,” UBS wrote. Story continues UBS said Libra is unlikely to have much impact on Facebook’s stock or the wider industry in the short-term but “could be disruptive in the long term.” Gantori and his team also analysed Libra’s white paper, which outlines the technical and logistical plans for the new cryptocurrency. The team concluded, “Libra sits somewhere in between the traditional notions of a cryptocurrency and the accepted views of fiat currencies.” They added Libra is “closer to Ethereum than to Bitcoin.” Read more on Libra: Facebook hasn't told us: why launch a cryptocurrency? Facebook's Libra could spark 'mass adoption' of crypto Why politicians and regulators are already going after Facebook's Libra Bank of England's Carney gives Facebook's Libra cautious backing Facebook's 'significant' Libra under scrutiny from new UK task force |
Anti-Bitcoin JPMorgan Teases JPM Coin Test as FB Steals Crypto Thunder
Despite CEO Jamie Dimon's history of anti-bitcoinrhetoric, JPMorgan plans to pilot-test its own JPM Coin cryptocurrency later this year.
JPMorganclaims more of its clients in the United States, Europe, and Japan have been clamoring for its prototype cryptocurrency to accelerate securities trading such as bonds.
Not surprisingly, this announcement comes just as thebitcoin priceis soaring above $11,000 amid the beginnings of a potential crypto bull run.
Umar Farooq, the head of blockchain at JPMorgan, toldBloombergthat the JPM Coin could enable “instant” delivery of bonds on a blockchain. The JPM Coin operates on Quorum, anEthereum-based blockchain platform JPMorgan developed with Microsoft.
“We believe that a lot of securities over time — in five to 20 years — will increasingly become digital or get tokenized." |
World Cup: Trump does not agree with Rapinoe's protests
Different sport, same controversy ... and same response. Megan Rapinoe, co-captain of the U.S. women’s national team and savior of U.S. hopes in Monday’s World Cup victory over Spain, regularly protests during the playing of the national anthem. In years past, she took a knee , a move reminiscent of NFL players protesting racial injustice prior to games. More recently, she’s remained silent during the anthem , hands clasped behind her back. That, combined with the U.S. team’s success, put her on the radar of President Trump, who helped inflame controversy over the protests during the anthem two years ago. Speaking to The Hill , Trump offered a far more measured critique of Rapinoe than he did of Kaepernick, replying “No, I don’t think so,” to the question of whether Rapinoe should protest during the anthem. Rapinoe is an outspoken advocate for social causes — in a recent interview with Yahoo Sports, she called herself a “walking protest” — most recently, the cause of equal pay for equal work for the women’s team. Trump sidestepped that issue, saying that he has not yet taken a position on it. “I think a lot of it also has to do with the economics,” Trump added, according to The Hill. “I mean who draws more, where is the money coming in. I know that when you have the great stars like [Cristiano] Ronaldo and some of these stars … that get paid a lot of money, but they draw hundreds of thousands of people.” Megan Rapinoe during the World Cup. (Getty) Rapinoe: Not a fan of Trump Rapinoe has no love for Trump; in interviews, she has called him “sexist,” “misogynistic,” “small-minded,” “racist” and “not a good person.” So it’s unlikely that criticism from the White House will sway her, even if — especially if — it intensifies. Anger over NFL protests has cooled now, in large part because Trump has moved on to other topics and because NFL players have found more direct ways to combat injustice. But for a few weeks in the fall of 2017, the protest issue consumed the league, turning every game into a will-they-or-won’t-they political flashpoint. There’s no indication yet that the World Cup is headed in that direction; Trump leavened his criticism of Rapinoe’s stance with praise for the team . “I love watching women's soccer,” he said during the Hill interview. “They’re really talented.” But all it would take to change that and mobilize opposition would be one early-morning tweet from the president. Rapinoe and the rest of the U.S. team play France on Friday in the World Cup quarterfinals. ____ Jay Busbee is a writer for Yahoo Sports. Contact him at jay.busbee@yahoo.com or find him on Twitter or on Facebook . Story continues More from Yahoo Sports: Sources: Kawhi to become free agent; Raptors favorite Paul denies trade request: ‘Happy’ to stay in Houston After profane tirade, Mets have to fire manager Callaway France beats Brazil, keeps possibility of dream QF alive View comments |
Exclusive: Johnson courts financiers in race to become British PM - sources
(Please note paragraph 16 contains language some readers may find offensive)
By Carolyn Cohn and Andrew MacAskill
LONDON (Reuters) - Boris Johnson, the frontrunner in the race to become Britain's next prime minister, has met hedge fund and private equity executives to raise donations for his leadership campaign, according to sources familiar with the matter.
Johnson, who on Tuesday reaffirmed his determination to take Britain out of the European Union on Oct 31, is seeking to build up a war chest for his campaign and rebuild ties with executives, which were strained last year by his expletive four-letter-word attack on business.
Johnson, 55, held a breakfast meeting on June 18 with potential donors at 5 Hertford Street, a private members' club in London's wealthy Mayfair district, the sources said. The club has a strict dress code which requires men to wear a jacket, except on the dance floor after 23:00.
Johnson's spokesman did not respond to request for comment, and 5 Hertford Street declined to comment.
Johnson, a former mayor of London who during the leadership campaign has called for tax cuts for higher-earning Britons, has benefited in the past from financiers' donations.
The largest single donation to his campaign during this parliament has come from the hedge fund manager Jon Wood, the founder of SRM Global Fund, who has donated 75,000 pounds ($94,725), the register of lawmakers' financial interests shows.
Wood could not be reached for comment.
Johan Christofferson, co-founder of U.S. hedge fund Christofferson Robb, has donated 36,000 pounds to the Johnson campaign, the register shows.
The register is updated every two weeks. Current entries run until June 17 so it was not yet clear whether further donations had been made following the June 18 meeting.
"I DEFENDED BANKERS"
Johnson and his leadership rival, foreign minister Jeremy Hunt, must each raise 150,000 pounds for their campaigns, under the rules of their governing Conservative Party. The funds help cover campaign costs, including travel to the 16 debates nationwide they are due to attend.
The Conservative Party's approximate 160,000 paid-up members will choose between the two men, with the result due on July 23. The new party leader automatically becomes prime minister.
Johnson has earned more than 700,000 pounds during this parliamentary sitting - since the 2017 national election - from speaking engagements, publishing and journalism, the parliamentary register shows.
The June 18 meeting in Mayfair followed another breakfast earlier on the same day with company executives.
Johnson held that breakfast at Somerset House, a neo-classical building overlooking the Thames, according to two sources briefed on the talks.
One of those sources said the executives attended because they expect Johnson to become the next prime minister.
Johnson's record as mayor of London, when he championed financial services, has been clouded by his reported dismissal of companies’ concerns last year about leaving the EU with the comment "fuck business".
At the weekend, Johnson confirmed he made the comment, describing it as a stray remark to the Belgian ambassador, but claimed he is Britain's most pro-business politician.
"I can’t think of any other politician, even Conservative politician, who from the crash of 2008 onwards actually stuck up for the bankers," he told a Conservative Party hustings.
"Can you think of anybody who stuck up for the bankers as much as I did? I defended them day in, day out, from those who frankly wanted to hang them from the nearest lamppost."
Business leaders say their relationship with ministers in Prime Minister Theresa May's were strained because they were initially kept at arm’s length.
Some ministers, including Johnson - who served briefly as foreign minister - also accused companies of issuing exaggerated threats about the damage Brexit would cause to the UK economy.
(Additional reporting by Guy Faulconbridge, Simon Jessop, Liz Piper and Paul Sandle; Editing by Gareth Jones) |
The Zacks Analyst Blog Highlights: Canopy Growth, GW, Scotts Miracle-Gro, Cronos and Aurora
For Immediate Release Chicago, IL –June 25, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Canopy Growth Corp. CGC, GW Pharmaceuticals plc GWPH, The Scotts Miracle-Gro Co. SMG, Cronos Group Inc. CRON and Aurora Cannabis Inc. ACB. Here are highlights from Monday’s Analyst Blog: Breakthrough in U.S. Marijuana Industry: 5 Likely Gainers In a significant development, the U.S. House of Representatives voted in favor of several amendments to protect cannabis users in legal states. These amendments will prohibit federal agencies, especially the Department of Justice, from interfering with cannabis programs, individuals and businesses in legal states. The amendments won approval from the U.S. House Rules Committee and are heading for a voting on the House floor later this week. The measure would need approval in Senate after getting full House vote. The committee also instructed the FDA to regulate CBD products as conventional foods and dietary supplements. Marijuana Industry is Blooming The marijuana industry has strong potential especially after its legalization for recreational and medicinal use. Moreover, the industry is enjoying benefits of expansion into other industries like food, beverage, tobacco and cosmetics. On May 31, the FDA held its first hearing to take a decision on whether companies can add CBD, a non-intoxicating cannabis compound, to food, beverages and dietary supplements. Several CBD manufacturers, researchers, farmers and retailers have urged the regulatory authority to allow the use of cannabis. In this regard, the FDA’s approval of CBD-based drug Epidiolex was a major achievement for the industry. On Mar 28, the House Financial Services Committee voted 45-15 in favor of passing the Secure and Fair Enforcement Banking Act of 2019 or the SAFE Banking Act. The bill seeks to safeguard the process of financial lending to cannabis companies in the United States. Story continues This bill would not only protect the industry’s credit lines, but also aid cannabis ancillary industries in the country. The ancillary sector has been suffering from financial uncertainties associated with the legal status of marijuana in the past. Cannabis is getting approval from many U.S. states for recreational uses, in addition to medical usage. Though pot remains entirely illegal at the federal level, currently 47 U.S. states offer some form of legalized marijuana for sale. Strong Market Potential According to Arcview Market Research’s annual report --- "The State of Legal Cannabis Markets" --- the global cannabis market size is likely to reach $15 billion this year, implying a gain of 36% year over year. The report evaluates "total cannabinoid market," including sales of medical and recreational cannabis at dispensaries, hemp-derived products in CBD (non-psychoactive cannabidiol) and the U.S. FDA approved CBD-based pharmaceuticals. As per MGO|ELLO Alliance, investment in U.S cannabis industry reached $1.3 billion in the first half of 2019. Per Arcview Market Research and BDS Analytics, cannabis sales in dispensaries, retail stores and pharmacies are likely to grow nearly $45 billion globally by 2024. Of this, CBD products are likely to command $20 billion is sales in 2024. Research firm Cowen projected that the market size of the U.S. legal cannabis industry will reach $75 billion in by 2030. According to Barclays, the U.S. cannabis market would be $28 billion if legalized in 2019, and grow to $41 billion by 2028. Likely Gainers The marijuana industry is considered extremely volatile. Most of these companies are in their early stages of development and characterized as risky for investors. However, cannabis stocks are solid long-term bets. Of these, stocks with a Zacks Rank #3 (Hold) or better and having solid long-term growth potential are worth trying out despite the latent risks. We have narrowed down our search to five such stocks. Canopy Growth Corp. engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules and hemps. The stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . The company has an expected earnings growth rate of 45.2% and 72.3% for the current quarter and current year, respectively. The Zacks Consensus Estimate for the current quarter and current year has improved 5.6% and 4.3%, respectively, over the last 60 days. The stock has surged 49.5% year to date. GW Pharmaceuticals plc is a biopharmaceutical company, focusing on discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. The stock carries a Zacks Rank #2. The company has an expected earnings growth rate of 89.7% and 90.8% for the current quarter and next year, respectively. The Zacks Consensus Estimate for the current quarter and next year has improved 94.5% and 41.2%, respectively, over the last 60 days. The stock has surged 78.3% year to date. The Scotts Miracle-Gro Co. is the world’s leading marketer of branded consumer lawn and garden as well as hydroponic growing products especially pot. In April 2018, the company acquired hydroponic equipment maker Sunlight Supply to enter into the pot business. The stock carries a Zacks Rank #2. The company has an expected earnings growth rate of 16% and 16.7% for the current quarter and current year, respectively. The Zacks Consensus Estimate for the current year has improved 2.4% over the last 60 days. The stock has surged 59% year to date. Cronos Group Inc. engages in investment in firms that are licensed to produce and sell medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations. The stock carries a Zacks Rank #3. The company has an expected earnings growth rate of 137.5% for the current year. The Zacks Consensus Estimate for the current year has improved 200% over the last 60 days. The stock has surged 53.4% year to date. Aurora Cannabis Inc. produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain. The stock carries a Zacks Rank #3. The company has an expected earnings growth rate of 85% for the next year. The Zacks Consensus Estimate for the next year has improved 50% over the last 60 days. The stock has surged 47.2% year to date. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. 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 GW Pharmaceuticals PLC (GWPH) : Free Stock Analysis Report The Scotts Miracle-Gro Company (SMG) : Free Stock Analysis Report Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report Canopy Growth Corporation (CGC) : Free Stock Analysis Report Cronos Group Inc. (CRON) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
Facebook’s Libra Creates New ‘Path to Printing Even More Money’ Through Messaging Services
(Bloomberg) -- Facebook Inc.’s plan for a new cryptocurrency has the potential to change entire industries. A more likely outcome is that the technology transforms the social media giant’s own business.
While Facebook makes most of its revenue from advertising, Chief Executive Officer Mark Zuckerberg says the future is private messaging. That’s a tough venue for data-hungry digital ads, so Wall Street has been wondering how the company will make money from this new future. Libra, the crypto coin Facebook announced last week, provides a tantalizing answer.
“Libra could introduce a meaningful new product and profit stream for Facebook over the coming years,” Citigroup analyst Mark May wrote in a recent research note titled “Facebook’s Path to Printing Even More Money.”
Facebook has more than 1.5 billion users on both WhatsApp and Messenger yet makes almost no money from the messaging services. Last week, when Facebook revealed its Libra plans, the company also said it would soon put new digital wallets inside these apps so users can easily use the cryptocurrency to send money to friends and businesses anywhere in the world. If the plan works, WhatsApp and Messenger will become new payments and commerce hubs that take small-but-profitable cuts from billions of transactions, according to May and other analysts.
“This move is a strong indicator of Facebook’s intent to become a transactional platform (through Messenger and WhatsApp), expanding well beyond its massive advertising business,” wrote SunTrust Robinson Humphrey analyst Youssef Squali.
Facebook has a checkered record in payments, and Libra has been poo-poohed by some crypto purists. But China’s WeChat and QQ show what’s possible when messaging apps cleverly fold payments and other services into the mix. WeChat and QQ make money by facilitating payments between users and merchants, distributing mobile games, and selling digital goods, such as stickers and avatars. The services have turned owner Tencent Holdings Ltd. into the most valuable publicly traded company in China.
Facebook’s crypto push could facilitate similar offerings in payments, shopping, apps and gaming, while tapping into the company’s huge user base in Asia, where it has nearly four times as many monthly active users as it does in North America, according to RBC Capital Markets analyst Mark Mahaney. Libra “may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams,'' he wrote in a recent note.
For now, Facebook and its new subsidiary Calibra, which is building the digital wallets, are framing the new currency as a way for individuals to send money to each other across borders. David Marcus, who is leading Facebook’s Libra efforts, said that the company doesn’t plan to take a fee when people send money to friends, and will likely charge “tiny transaction fees” for payments to businesses.
That could be the first step toward something more lucrative. Before Facebook, Marcus was president of PayPal Holdings Inc., the largest independent digital payments business in the U.S. PayPal facilitates one-to-one payments, but it has become a common way to pay for online purchases, too.
“You usually don’t make money off of [peer-to-peer] payments,” Harshita Rawat, an analyst at Sanford C. Bernstein. “The actual use case is getting people into the habit of doing financial transactions on the platform, and then start to roll out other e-commerce related activity.” Once users get comfortable sending money through an app, adding a marketplace feature and more interactions with businesses often follow. That is “where the real monetization opportunity is,” she added.
Marcus can see a future in which Facebook turns payments and digital wallets into a new business -- even if he’s not exactly sure what that will look like.
“Over time, if we build more services on top of Libra, we’re probably going to likely index on other sources of income,” he said. “That’s future talk. We’re not going to do that for the first few years of this ecosystem because we want to focus on adoption.”
Whether or not Facebook gets that adoption is the more pressing challenge. The company’s crypto plans are already under fire from regulators in Washington and Europe who don’t like the idea of Facebook dipping its toe in yet another aspect of people’s personal lives. And gaining consumer trust after years of privacy mishaps may be harder than Facebook expects. Bernstein’s Rawat describes Libra as “somewhat of a moonshot project.”
If people do start stuffing their new digital wallets with Libra, it might not take years for Facebook to turn that activity into revenue. Marcus believes the new wallets could have a more immediate financial impact on a business line Facebook knows well: Targeted advertising. If users have Libra on hand as they scroll through Facebook’s News Feed, when they click on an ad it will be easier to buy something. That would make Facebook ads more appealing to marketers.
“If there is more commerce happening on the platform, then small businesses will end up spending more and advertising will be more effective for them,” he said.
--With assistance from Julie Verhage.
To contact the author of this story: Kurt Wagner in San Francisco at kwagner71@bloomberg.net
To contact the editor responsible for this story: Alistair Barr at abarr18@bloomberg.net
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
Djokovic has sympathy for Nadal over Wimbledon seedings gripe
By Martyn Herman LONDON (Reuters) - Spaniard Rafael Nadal received support from Wimbledon champion Novak Djokovic on Tuesday after criticising the unique seedings formula used by the grasscourt Grand Slam which gets underway at the All England Club on Monday. Nadal looks set to fall victim to the formula which tweaks the seedings based on previous form on grass, with the 33-year-old expected to be seeded third behind top-ranked Djokovic and Roger Federer despite being world number two. Wimbledon, which will announce the seedings on Wednesday, is the only one of the four Grand Slam tournaments not to stick rigidly to the ATP and WTA rankings. With Nadal, seeking a first Wimbledon title for nine years, seeded three it would mean he would most probably have to beat eight-time champion Roger Federer and four-time winner Djokovic to get his hands on the trophy for a third time. "Wimbledon is the only tournament of the year that doesn't follow the ranking," the 33-year-old Nadal told Spanish TV station #Vamos on Tuesday. "It's their choice. Either way, being second or third seed, I have to play at the best level to aspire to the things I aspire to. It is better to be second than third, but if they consider that I have to be third I will accept. "I don't think it's a good thing that Wimbledon is the only one with its own seeding formula." Nadal lost a semi-final epic to Djokovic last year but in his previous five appearances he never got past round four. SEEDING SURPRISE Wimbledon top seed Djokovic said he could understand Nadal's frustration. "It's their rules and you have to respect it although it's a little bit surprising to be honest," the Serb told Reuters after playing at the Boodles exhibition event on Tuesday. "Roger is the greatest of all time and has won the most Wimbledon titles of any player in history and if any player deserves it it's him. "But at the same time it's Nadal that he is taking over (from as) the second seed so it's surprising to be honest." Story continues The top 32 players on the ATP ranking list, who are present at Wimbledon, will take the seeded places, but a formula using results on grass for the past 24 months can change the order. "The only thing that doesn't seem right to me is that it's just Wimbledon that does it. If everyone did it, I think it would be appropriate or correct," Nadal told #Vamos. The women's seedings follow the WTA ranking list but can be tweaked to produce "a balanced draw". Serena Williams was ranked 183rd ahead of last year's tournament but was handed a seeding of 25. (Reporting by Emma Pinedo-Gonzalez; Writing by Martyn Herman; Editing by Hugh Lawson and Ken Ferris) |
BlackBerry Expands Footprint in the Automotive Industry
BlackBerry LimitedBB has announced that its flagship QNX software is currently embedded in more than 150 million cars present on road. The latest feat marks an increase of 30 million cars since the cybersecurity software and services company presented its automotive footprint in 2018. The company is poised to benefit from surge in its business, while providing one of the most secure mobile enterprise solutions in the market.The Canadian firm partnered with Strategy Analytics — a research and industry analyst firm — to substantiate the volume of QNX deployments based on the number of QNX products shipped in the automotive market, and the number of cars that comprise QNX products and technology. It is worth noting that the majority of QNX software products that are used in automotive electronic control units are licensed on a per-unit royalty basis.With a holistic growth model, focusing both on organic and inorganic initiatives, the company aims to expand its market leadership in enterprise mobility. The acquisition of Cylance augmented its operations as it has provided additional cyber security capabilities with advanced artificial intelligence and machine learning technology.As a leader in automotive cybersecurity, BlackBerry intends to maintain the highest degree of automotive certification for functional safety with ISO 26262 ASIL D. Moreover, the company has rich experience in driving mission-critical embedded systems in automotive and allied industries.Further, the company has integrated the BlackBerry QNX and WHIS operating systems, which enables system designers to make the most of heterogenous multicore system on chips containing application cores in safety-critical systems to secure data.Markedly, automotive original equipment manufacturers are using BlackBerry QNX technology in their advanced driver assistance systems, digital instrument clusters, connectivity modules, handsfree systems, and infotainment systems that comes in various prominent car brands.Driven by increasing market traction of BlackBerry’s cutting-edge solution offerings, the stock has rallied 19.1% against the industry’s decline of 4.2% in the year-to-date period. Strong software sales continue to aid BlackBerry’s top line while growth in its cybersecurity business is a huge positive.
BlackBerry currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader industry are Comtech Telecommunications Corp. CMTL, Motorola Solutions, Inc. MSI and Ubiquiti Networks, Inc. UBNT. While Comtech sports a Zacks Rank #1 (Strong Buy), Motorola and Ubiquiti carry a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Comtech has long-term earnings growth expectation of 5%.Motorola has long-term earnings growth expectation of 7.7%.Ubiquiti has long-term earnings growth expectation of 19.8%.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportUbiquiti Networks, Inc. (UBNT) : Free Stock Analysis ReportMotorola Solutions, Inc. (MSI) : Free Stock Analysis ReportComtech Telecommunications Corp. (CMTL) : Free Stock Analysis ReportBlackBerry Limited (BB) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
'Jeremy Kyle Show's Graham Stanier: I was not comfortable with Kyle's presenting style
Jeremy Kyle was known for his aggressive presenting style (Credit: ITV) The Jeremy Kyle Show s Graham Stanier has admitted he was not comfortable with Kyles black and white presenting style. The host of the axed ITV show declined to appear before MPs today, and in his absence the shows Director of Aftercare Stanier and Executive Producer Tom McLennan underwent detailed scrutiny from the Committee for Digital, Culture, Media and Sport (DCMS). Under questioning about Kyles treatment of his guests Stanier said: Its not the behaviour I would employ. Thats a really black and white statement, saying somebody is a liar. That is the presenters style. Im responsible for me and my behaviour I cant be responsible for the presenters behaviour. Read more: Jeremy Kyle plots return to TV with two new shows Im responsible for me and for the guests. Responsibility for the presenter lies with the production. Asked if it was his duty to tell Kyle not to behave in a certain way towards guests Stanier said: That is my role, but in the moment, I think he becomes passionate, opinionated and he will deliver in that way and if people are uncomfortable with that its a production issue to deal with that. He added: Im never professionally comfortable with black and white statements. Jeremy Kyle, Judge Rinder and Graham Stanier attending the National Television Awards 2017 held at the O2, London. Photo credit should read: Doug Peters/EMPICS Entertainment Discussing the checklist that potential contributors, Stanier was asked if he felt professionally comfortable with them appearing on the show after any medical or mental health issues were revealed. Stanier said: I would definitely reduce peoples participation in most cases to providing a statement only. Stanier and McLennan both admitted that while they made it clear to participants that lie detector tests are not 100 per cent accurate they were not aware of the procedures range of accuracy. However McLennan said that Kyle - shown in a clip form the show telling a woman, The lie detector test says you are a liar, - believed in the test results. Read more: Lie detectors may be banned from TV as Ofcom probes 'Jeremy Kyle Show' Story continues McLennan said: Watching that clip now I think Jeremy did have a strong opinion about the lie detector so thats why we also felt it was extremely important to make clear it is not100 per cent accurate and thats why we put it on screen as he delivered the result. Jeremy has very strong views and he believed in the results. Under further questioning he said: I cant talk for Jeremy today but my understanding is that he did believe in the test. Julian Bellamy, Managing Director of ITV told the committee that the network hoped to continue to work with Kyle in the future. But he said: We will not be bringing back a show that looks or feels like The Jeremy Kyle Show in the future. |
The Lightyear One is a solar-powered car with an eye-watering price
Ever wanted to own an electric car that can charge itself? Soon, that could be a very real possibility. Dutch clean mobility company Lightyear today debuted its long-range prototype, the Lightyear One, with a range of 725 km (450 miles) and a small battery that can be charged directly via sunlight, or fromconventional charging stations.
The idea is that you could take the car on long roadtrips because it isn't dependent on charging infrastructure the way that traditionalelectric vehicles like Teslasare.
The roof and hood of the car are covered with five square meters of solar cells beneath safety glass, which the company claims is "so strong that a fully-grown adult can walk on them without causing dents." And it is designed to be very lightweight, making it more power efficient.
Less weight means you get better range from conventional charging too, so the car can be charged for up to 400 km (nearly 250 miles) in one night from a regular 230V socket. The solar panels add an additional charge of up to 12 km/hour (7.5 miles/hour).
Lightyear is a relatively new company, created in 2016. Its founders developed a solar-powered car -- named Stella -- for the World Solar Challenge in Australia while they were at university and became the world champion in their class. They went on to create the Lightyear company to manufacture and sell similar vehicles on a larger scale. The One is the company's first production model.
The Lightyear One certainly doesn't come cheap, however. The reservation fee for one of the first 500 cars is a hefty €119,000, equivalent to $135,000, and delivery isn't expected until 2021.
This makes the Lightyear more of a purchasable concept than a production vehicle. But if you've got a spare few hundred thousand dollars lying around and you want to help Lightyear publicly test their first production car, now you have another option for environmentally friendly transport. |
U.S. Chemical Production on an Upswing: 4 Stocks Worth a Bet
U.S. chemical production continues to leap in the second quarter with May seeing a rise in production on gains in output across most chemical producing regions, according to the latest monthly report from the American Chemistry Council ("ACC").The Washington, DC-based chemical industry trade group said that the U.S. Chemical Production Regional Index ("CPRI") went up 0.4% in May on a monthly comparison basis, following a 0.2% rise a month ago. The U.S. CPRI, which is measured using a three-month moving average, was created to track chemical production in seven regions nationwide.
May Data Shows Broad-based Regional GainsThe May readings showed an uptick in chemical production on a monthly comparison basis across all regions barring the Ohio Valley.The Gulf Coast region – the epicenter of the U.S. specialty chemicals and petrochemicals industry – saw the biggest gain with output moving up 0.5%. Production from Northeast and Midwest rose 0.3% and 0.2%, respectively, in the reported month. Output rose 0.1% in Mid-Atlantic, West Coast and Southeast. Production was flat in the Ohio Valley.By segments, chemical production was mixed. Gains in organic chemicals, inorganic chemicals, manufactured fibers, plastic resins, synthetic rubber, other specialty chemicals and industrial gases were neutralized by lower production in adhesives, fertilizers, crop protection chemicals, consumer products and coatings.According to the ACC, activity for the U.S. manufacturing sector – the largest consumer of chemical products – edged down 0.1% in May, marking the fourth consecutive month of decline.The manufacturing sector serves as a barometer to gauge the overall health of the U.S. economy and has a major influence on the chemical industry. The sector is a major driver for the chemical industry which touches around 96% of manufactured goods. Manufacturing activity is also a key indicator for chemical production.Within the manufacturing sector, production rose in several chemistry end-user markets in May including motor vehicles and parts, computers, semiconductors, oil and gas extraction, rubber products, apparel and furniture.U.S. factory activity slowed in May amid concerns over an escalation in the U.S.-China trade tiff and a slowdown in the world economy.Meanwhile, overall chemical production also went up 2.1% on a year over year comparison basis in May with all regions racking up gains. Biggest gains were witnessed across Northeast, Mid-Atlantic and West Coast regions.U.S. Chemical Industry Poised for UpsideNotwithstanding slowing global growth, escalating trade tensions and a slowdown in manufacturing, the ACC envisions the U.S. chemical industry to grow 2.5% in 2019. The trade group sees growth in important end-use markets to support the expansion of the industry. While the automotive sector is expected to remain at high levels, slow recovery in the housing market is expected to continue.The ACC expects strong gains in production in organic chemicals, inorganic chemicals and other specialty chemicals in 2019, partly masked by modest declines in production of agricultural chemicals and consumer products.Shale-linked Investments are also expected to drive growth in the U.S. chemical industry. The United States remains an attractive investment destination for chemical investment and domestic chemical industry continue to enjoy the competitive advantage of access to abundant supplies of shale gas and natural gas liquids (NGLs).This is driving capital investment in new chemical projects to beef up capacity. New capacity is expected to provide a boost to chemical production as these investments come on stream. The ACC expects gains in capital spending, rising 5.4% in 2019 and 4.9% in 2020.4 Chemical Stocks Worth a WagerThe U.S. chemical industry’s upswing is expected to continue on strength across major end-markets and investment on capacity expansion. U.S. chemical makers should continue to reap the benefits of abundant and affordable shale gas feedstock. As such, it would be prudent to invest in stocks in the space that have compelling prospects and are well poised for solid upside.We highlight the following four stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) that are good options for investment right now. You can seethe complete list of today’s Zacks #1 Rank stocks here.Axalta Coating Systems Ltd.AXTAPennsylvania-based Axalta sports a Zacks Rank #1. The company has expected earnings growth of 35.2% for 2019. Earnings estimates for 2019 have been revised 30% upward over the last 90 days. The company also delivered positive earnings surprise in three of the trailing four quarters, with an average positive surprise of 19.6%.Westlake Chemical Partners LPWLKPOur next pick in the space is Texas-based Westlake Chemical Partners, carrying a Zacks Rank #1. The company has expected earnings growth of 39.7% for 2019. Earnings estimates for the current year have been revised 2.4% upward over the last 90 days. The stock also has an expected long-term earnings per share growth rate of 16%.Compass Minerals International, Inc.CMPKansas-based Compass Minerals is another attractive choice. It carries a Zacks Rank #2. The company has expected earnings growth of 35.8% for 2019. Moreover, earnings estimates for 2019 have been revised 5.2% upward over the last 90 days.Air Products and Chemicals, Inc.APDBased in Pennsylvania, Air Products carries a Zacks Rank #2. It has an expected earnings growth of 10.3% for fiscal 2019. Earnings estimates for the current fiscal have been revised 0.5% upward over the last 90 days. The stock also has long-term expected earnings per share growth rate of 11.8%.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportCompass Minerals International, Inc. (CMP) : Free Stock Analysis ReportAir Products and Chemicals, Inc. (APD) : Free Stock Analysis ReportWestlake Chemical Partners LP (WLKP) : Free Stock Analysis ReportAxalta Coating Systems Ltd. (AXTA) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
CounterPath Receives 2019 Unified Communications Product of the Year Award
Bria Teams Honored for Exceptional Innovation
VANCOUVER, BC / ACCESSWIRE / June 25, 2019 /CounterPath Corporation(CPAH) (PATH.TO), a global provider of award-winning Unified Communications solutions for enterprises and solution providers, announced today thatTMC, a global, integrated media company helping clients build communities in print, in person and online, has namedBria Teamsas a 2019 Unified Communications Product of the Year Award winner.
Bria Teams is a subscription-based cloud service that unifies team communications and collaboration across desktop and mobile devices, enabling organizations to enhance team productivity and improve business processes. SMBs and enterprises can easily integrate Bria Teams with their existing call server (PBX) or VoIP service, allowing users to take their business number with them as their single identity. Bria Teams combines all of CounterPath's core technologies of team high-definition (HD) voice and video calling, secure corporate messaging, presence, message synchronization, and screen sharing -- all hosted by CounterPath from the cloud. Bria Teams overlays an organization's infrastructure to leverage its existing investments, reducing both costs and complexity. A major update to Bria Teams was announced recently with the launch ofBria Teams Pro, a new addition that adds dedicated high-definition virtual meeting room for each user to facilitate voice and video conferencing for up to 200 participants.
"It gives me great pleasure to honor CounterPath as a 2019 recipient of TMC's Unified Communications Product of the Year Award for their innovative solution, Bria Teams," saidRich Tehrani, CEO, TMC. "Our judges were very impressed with the ingenuity and excellence displayed by CounterPath in their ground-breaking work on Bria Teams."
"Bria Teams is a comprehensive unified communications and collaboration offering aimed at easing and facilitating SMB communications. It reduces the requirement to have separate and costly applications such as Slack, Zoom or other messaging and video conferencing services. Its vast features and capabilities help simplify business interactions and enhance efficiencies. We are honored to be recognized by TMC as the Unified Communications Product of the Year. We are proud of this achievement and will continue to deliver premium unified communication and collaboration solutions," said Todd Carothers, EVP of Sales, Marketing, and Product, CounterPath.
Winners of the 2019 Unified Communications Product of the Year Award will be announced online and highlighted inINTERNET TELEPHONY magazineonline.
About CounterPath
CounterPath Unified Communications solutions are changing the face of telecommunications. An industry and user favorite, Bria®softphones for desktop, tablet, and mobile devices, together with Stretto Platform™server solutions, enable service providers, OEMs, and enterprises large and small around the globe to offer a seamless and unified communications experience across any networks. The Bria and Stretto combination enables an improved user experience as an overlay to the most popular UC and IMS telephony and applications servers on the market today. Standards-based, cost-effective and reliable, CounterPath's award-winning solutions deliver high-quality voice and video calling, messaging, and presence offerings to our customers such as AT&T, Avaya, Bell Canada, BT, Liberty Global, Ribbon Communications, Uber, and Vonex. Visit counterpath.com and follow @counterpath.
AboutINTERNET TELEPHONYmagazine
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About TMC
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The Zacks Analyst Blog Highlights: PulteGroup, NVR, M/I Homes and Ethan Allen
For Immediate Release
Chicago, IL –June 25, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PulteGroup, Inc. PHM, NVR, Inc. NVR, M/I Homes, Inc. MHO and Ethan Allen Interiors Inc. ETH.
Here are highlights from Monday’s Analyst Blog:
Existing Home Sales Rebound: 4 Housing Picks
After experiencing a tough time in the last two months, sales of previously owned houses rebounded strongly in May 2019, rising in each of the four major U.S. regions. The Northeast witnessed the biggest increase last month.
Declining mortgage rates, moderating home prices, rising wages and dovish Federal Reserve stance helped the U.S. housing market regain its momentum.
Home Sales Data Encouraging
The National Association of Realtors’ (“NAR”) said on Friday that sales of existing homes, accounting for more than 90% of total U.S. home sales, increased 2.5% to a seasonally adjusted annual rate of 5.34 million units last month from 5.19 million in April. However, the metric decreased 1.1% from 5.4 million a year ago.
Notably, the recent data marked the second highest level since the beginning of 2019.
Regionally, sales in the Northeast, which account for the majority of existing home sales, rose 4.7% to 670,000 units, almost in line with the prior-year period. While sales in the Midwest advanced 3.4% in May, the same increased 1.8% in both South and West regions.
Median sales price in May rose 4.8% to $277,700 from the comparable year-ago period, marking the 87th straight month of year-over-year increase.
In May, total housing inventory grew 4.9% from the previous month and 2.7% from the prior-year period. It will take just 4.3 months to deplete the current supply of homes, up from 4.2 months in April as well as in May 2018.
First-time buyers accounted for 32% of sales in May, in line with the prior month but up from 31% recorded a year ago. Moreover, NAR revealed that the annual share of first-time buyers in 2018 was 33%.
The uptick in each of the abovementioned metrics reflects that buyers are excited to reap the benefits of favorable market conditions. Lawrence Yun, NAR’s chief economist, said “The purchasing power to buy a home has been bolstered by falling mortgage rates, and buyers are responding.”
Declining Mortgage Rates to Boost Sales
The overall housing industry has been booming over the past few months, backed by declining mortgage rates and strengthening builder’s confidence.
Although mortgage rates increased 2 points last week, it remained 73 points lower than a year ago. The average U.S. rate for a 30-year fixed mortgage was 3.84% for the week ending Jun 20, according to the latest Freddie Mac Primary Mortgage Market Survey. This marked an increase from the previous week’s 3.82% but was down from 4.57% a year ago. The recent decline in mortgage rates should benefit existing home sales in the near term.
Homebuilder confidence has also been growing since the beginning of the year. Though the metric fell two points in June from the previous month, as measured by the National Association of Home Builders’ Index, the gap does not reflect that homebuyer demand has stalled. As evident from increased refinance activity and loan amounts, consumers still have the willingness and capacity to purchase homes.
Meanwhile, investors remain optimistic that the Federal Reserve or Fed will cut federal funds interest rate in July. Recently, the Fed opted to keep the benchmark rate in a target range of 2.25-2.5%, with a vote of 9-1, indicating readiness to lower interest rates for the first time in more than a decade, citing “uncertainties” in the outlook. Notably, after raising federal funds rate nine times in three years, the Fed reversed its course last December on concerns related to slowing economy and U.S.-China trade war. This is indeed a major boon for the rate-sensitive housing market.
In a nutshell, improving economic conditions, rising disposable income and favorable demographic changes are likely to support demand in the near term.
4 Must-Buy Housing Stocks
There are plenty of reasons to be optimistic about the broader housing sector over both the short and the long term. However, picking winning stocks may be difficult.
With the help of the Zacks Stock Screener, we have zeroed in on four stocks that have a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a VGM Score of A or B. A top Zacks Rank indicates that these stocks have been witnessing positive estimate revisions, which generally translates into rapid price appreciation.
Our VGM Score identifies stocks that have the most attractive value, growth and momentum characteristics. In fact, our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2, make a solid investment choice. You can seethe complete list of today’s Zacks #1 Rank stocks here.
PulteGroup, Inc.primarily engages in the homebuilding business in the United States. The company currently sports a Zacks Rank #1 and has a VGM Score A. The Zacks Consensus Estimate for its current-year earnings has increased 0.9% over the past 60 days. The company is expected to see earnings growth of 6.8% over the next three to five years.
NVR, Inc., which operates as a homebuilder in the United States, also sports a Zacks Rank #1 and has a VGM Score A. The Zacks Consensus Estimate for its current-year earnings has remained stable over the past 60 days. The company's expected three-five-year earnings growth is 10.7%.
M/I Homes, Inc.operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company currently has a Zacks Rank #2 and has a VGM Score B. The Zacks Consensus Estimate for its current-year earnings has remained steady over the past 60 days.
Ethan Allen Interiors Inc., an interior designer, manufacturer and home furnishings retailer, currently carries a Zacks Rank #2. The stock has an expected earnings growth rate of 15% for the next three to five years. Moreover, the company currently has a VGM Score of A.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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 reportNVR, Inc. (NVR) : Free Stock Analysis ReportM/I Homes, Inc. (MHO) : Free Stock Analysis ReportPulteGroup, Inc. (PHM) : Free Stock Analysis ReportEthan Allen Interiors Inc. (ETH) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
JPMorgan Chase unveils flagship NYC branch amid nationwide brick-and-mortar expansion
Bankers punch transactions into tablet computers, spiffed-up ATMs handle most everything else, and comfy chairs invite customers to simply hang out — these are the hallmarks of a new flagship JPMorgan Chase (JPM) bank branch, in Midtown Manhattan, unveiled by the company on Tuesday.
At the branch, a signature of Chase’s effort to expand and modernize its brick-and-mortar banking nationwide, tellers aren’t stationed behind a plate of glass. Instead, they casually rove about an open floor plan, as if attendants at an Apple (AAPL) store.
“This format is meant to be a flagship branch and a community center,” said Jamie Dimon, chief executive of JP Morgan Chase. “We’re thrilled to be on the expansion trail again.”
“That expansion trail is thousands and thousands of jobs,” he added, noting the some 3,000 employees that the company plans to hire at new branches.
Personal tablets and enhanced ATMs at the flagship branch allow bankers to leeway to interact with customers on their terms, said Jurida Dobruna, manager of the branch.
“Through the tablets, our bankers are able to engage with clients in every space in the branch, open bank accounts, open new investment accounts, or service existing accounts for our clients,” Dobruna said.
“Technology is evolving; our clients are evolving,” she added. “Their expectations of how they want to do banking with us is also evolving.”
In all, Chase plans to open 90 new branches by year-end, hiring up to 700 new employees throughout the branches. That will mark about a quarter of the way through an expansion that will bring 400 branches to 20 new markets.
The new markets include cities that “are right at the heart of some of our competitors,” Dimon said.
Approximately 30% of the new branches will be in low- to moderate-income neighborhoods, the company said.
Many of the new locations will incorporate features first tested at the flagship branch in midtown Manhattan, including similar open-floor branches in Chicago and Los Angeles.
“The firm will be introducing new concepts, new ideas, and designs first at this location,” Dobruna said. “But the firm is planning to introduce these ideas across the country as well.”
Enhanced ATMs at the flagship branch can perform over 80% of transactions done at the teller, the company said. Television screens line the walls, letting customers catch up on financial news or the weather. In total, the branch has 14.4 million pixels worth of screens, an amount that exceeds the jumbotron at Yankee stadium, the company said. From the sidewalk, passersby will see a single LED screen that spans 2,000 square feet.
“It’s designed to webcast different events we'll be having at this location or even branches across the country,” Dobruna said.
Those events, called Chase Chats, bring together a small group of customers to learn about a specific topic, such as saving for college or planning for retirement. Upcoming events at the flagship branch feature astronaut Scott Kelly, Olympic gold medalist Lindsey Vonn, and former New York Giants wide receiver Victor Cruz.
The company has hosted nearly 4,000 in branches so far this year, with a goal of 10,000 by the end of the year, a press release said.
Planning for the new branch began a year ago, Dobruna said. She began working as a banker at Chase 10 years ago, soon after she immigrated to the United States from Albania. Four years later, she became a bank manager and then the primary supervisor for the opening of the flagship branch, which opened its doors to customers last Monday.
“When we opened the doors to public on Monday it's when this all planning became reality,” she said. “Seeing the people's reaction and our clients just coming in and being blown away by this new idea and concept we're introducing for our community, it just made me feel so happy and so excited to have been part of this journey.”
Max Zahn is a reporter for Yahoo Finance.
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. |
3 Reasons to Wait on Cannabis Favorite Cronos Group
By now, it's become no secret that legal marijuana offers a potentially once-in-a-generation growth opportunity for investors. After global cannabis sales nearly hit $11 billion in 2018, according to the newest "State of the Legal Cannabis Markets" report from Arcview Market Research and BDS Analytics, they're expected to soar to north of $40 billion by 2024, representing a compound annual growth rate of almost 25%.
If these various growth forecasts prove accurate and we do see relatively steady double-digit growth rates worldwide in the pot industry over the next 5 to 10 years, there's little doubt that a number of marijuana stocks will come out as winners.
Image source: Getty Images.
Early investors in the marijuana industry have placed their bets and anointedCronos Group(NASDAQ: CRON)as one of the must-own stocks of the industry. Since the beginning of 2016,Cronos has been a top performer, with gains totaling roughly 6,600% for those who've been willing to brave the wild vacillations that come with owning pot stocks.
Cronos Group really flew to the top of the pack after announcing in early December thatAltriawould be taking a 45% nondiluted equity stake in the company. In return,Cronos received $1.8 billion in cashupon closing of the investment in mid-March. The belief here is that Altria will work with Cronos to create unique vape products throughout North America. And as for Cronos, there's the reality that it can use its newfound fortune to make complementary acquisitions, boost capacity, broaden its product portfolio, and build up its existing brands. Prior to this deal announcement, Cronos had less than $25 million in cash on its books.
This is also a company with a large focus on the high-margin cannabinoid derivatives market. By derivatives I mean products that aren't dried cannabis flower, such as oils. Cronosstruck a deal worth up to $100 millionwith Ginkgo Bioworks last September that'll allow it access to Ginkgo's proprietary microorganism platform. In return, Cronos Group will utilize yeast strains capable of producing eight targeted cannabinoids, some of which are rare, at commercial scale. This focus on derivatives has been one of the primary selling points of Cronos Group's stock.
Image source: Getty Images.
But as I've suggested numerous times before, this is a stock thathas a lot to prove to Wall Street and investors. Here are three good reasons, even with a focus on high-margin cannabis derivatives, you should hold off on investing in Cronos Group.
To begin with, the company's market cap of $5.5 billion appears extremely lofty and assumes that the upcoming launch of derivatives in Canada will go off without a hitch. For those unaware, Health Canada has announced its intention to legalize a plethora of new cannabis consumption options by no later than mid-October. This launch of high-margin products is generating as much buzz within the investment community as the initial launch of recreational marijuana did in Canada on Oct. 17, 2018.
But here's the problem: It's unclear if thesupply chain issuesthat have caused major marijuana shortages in Canada will be resolved by the time mid-October rolls around. A massive backlog of cultivation applications with Health Canada, along with shortages of compliant packaging, have ensured that it'll take many more months, if not years, before marijuana supply can satisfy domestic demand.
Health Canada hasannounced changesto its cultivation license application procedure that should help expedite reviews. Going forward, only growers with completed cultivation facilities will be allowed to submit licensing applications. Nevertheless, it's unlikely that Canada will be able to work through such rampant supply issues (for dried cannabis or derivatives) in such short order. That bodes poorly for Cronos Group's chances of a flawless derivatives launch.
Image source: Getty Images.
Another overlooked problem is that while derivatives are high margin relative to dried cannabis, the competition in the derivatives space will be fierce. Even with Ginkgo Bioworks in its corner, Cronos Group is just one bee in a very busy hive that's looking to take advantage of alternative consumption options.
For instance, Cronos Group announced earlier this month that it plans to enter the U.S. cannabidiol (CBD) market within the next year. CBD is the nonpsychoactive cannabinoid that's best known for its perceived medical benefits. The Brightfield Group has projected that CBD sales in the U.S. could grow from a mere $591 million in 2018 to as much as $22 billion by 2022, representing acompound annual growth rate of 147%. What company wouldn't want a piece of that pie?
However,six of Cronos Group's major-producing peershave already announced their entrance into the U.S. CBD/hemp market via partnerships, joint ventures, or an organic push into the U.S. market. Thus, Cronos would be entering the lucrative U.S. CBD space well behind much of its competition. And this doesn't even take into account the CBD-focused hemp players, such asCharlotte's Web, or the general retail stores, likeKrogerandgas station convenience stores, that could be carrying CBD topicals, oils, or capsules. The competition in this space will be fierce, and Cronos bulls are overlooking this point.
Image source: Getty Images.
Lastly, Cronos Group's more tangible figures don't offer a lot of promise.
In terms of production, Cronos Group currently slots in as perhaps the ninth-largest individual producer by peak annual output. However, if we were to add in cannabis royalty companies and joint ventures, itslides out of the top 10 altogether. Thus, it leaves a lot to be desired on the production front, even if its focus is on cannabinoid production.
This is also a company with arelatively limited overseas presence. Whereas a number of Cronos Group's largest peers have representation in around 12 or more countries worldwide (including Canada), you only need one hand to count Cronos Group's overseas outlets. This could be troublesome if and when dried flower oversupply rears its head in Canada.
Perhaps most important, Cronos Grouphas been losing money on an operating basisand may continue to do so for the foreseeable future. If we remove one-time benefits and costs, along with fair-value adjustments on biological assets, from the equation, Cronos Group looks to be the priciest of its peers on a forward sales basis, as well as when factoring in the possibility of ongoing operating losses.
It's for all these reasons that Cronos Group should be left out of investors' portfolios.
More From The Motley Fool
• Beginner's Guide to Investing in Marijuana Stocks
• Marijuana Stocks Are Overhyped: 10 Better Buys for You Now
• Your 2019 Guide to Investing in Marijuana Stocks
Sean Williamshas 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. |
Gold Price Hits Highest in Nearly Six Years: 5 Top Picks
Gold price skyrocketed after remaining range bound in the first five months of this year. The rally was primarily driven by three macro factors --- Fed’s signal of a rate cut possibly next month, geopolitical tension in Iran and an impending global economic slowdown.Moreover, if the upcoming meeting between President Donald Trump and his Chinese counterpart Xi Jinping turns out fruitless, gold price would soar further. Buying pressure on gold is likely to remain firm as investors will focus on precious metals as a store of wealth and hedge against market turmoil.Gold Price Hits Record HighOn Jun 24, the gold futures for August delivery gained more than 1% to close at 1,418.20 per ounce after touching an intraday high of 1,424.90 per ounce, its highest since Aug 28, 2013. Month to date, gold price is up more than 6.5% after gaining 1.6% in May. If this trend continues, it will be the best back-to-back monthly gain for the yellow metal since it gained more than 8% in the January-February 2017 period.Year to date, gold price has advanced more than 9%, marking its best performance so far this year, after posting a record gain of 13.7% in 2017. Several industry researchers have estimated that gold price could hit 1,440 per ounce in 2019 if momentum remains strong.Fed Signals Rate CutOn Jun 19, in his speech following the FOMC meeting, Fed Chair Jerome Powell said that the benchmark lending rate was kept intact at 2.25-2.5%. However, the central bank said that the adoption of a more accommodative policy is gaining ground as some economic data raised concerns about U.S. and global growth.Notably, out of the 17 voting members of the Fed, a strong bunch of eight is expecting a rate cut this year. Fed’s statement boosted investor confidence. Per CME FedWatch, traders are assigning 100% probability to a rate cut of at least 25 basis points in July.Since Jun 19, the U.S. dollar price index has declined 1.6% while gold futures have rallied 5.6%, helping the yellow metal to break a key resistance at $1,360 - $1,365 per ounce.Escalation of Geopolitical Tension in IranGeopolitical conflict in Iran intensified on Jun 13 when two oil tankers were set on fire in the Strait of Hormuz, for which the United States blamed Tehran. On Jun 20, the Revolutionary Guard of Iran claimed that it shot down a U.S. drone near the Strait of Hormuz. Iran alleged that the drone had entered its sky, which the U.S. military claimed as international airspace.On Jun 24, President Trump signed an executive order imposing tough new sanctions on Iran. The new sanctions will deny Iran’s supreme leader Ayatollah Ali Khamenei and his office to access key financial resources. Notably, Iran is already facing U.S. sanctions regarding crude oil exports after the Trump administration withdrew from the Iran Nuclear Agreement of 2015.
Tepid Global Economic DataIn the United States, non-farm job addition in May came in at just 75,000. Moreover, total job addition in April and March was reduced by 75,000. U.S. manufacturing is suffering due to lack of global demand. The ISM Manufacturing Index for May came in at 52.1, the lowest level since October 2016.China’s official manufacturing PMI for May slipped to 49.4, from April’s reading of 50.1. PMI readings below 50 signal contraction in the Chinese manufacturing sector. The National Bureau of Statistics of China reported that value-added industrial output rose 5.0% in May compared with 5.4% in April. This was the lowest growth rate in 17 years.The Ifo business-climate index for Germany fell to 97.4 points in June, the lowest level since November 2014. The reading for May was 97.9. Companies' expectations index fell to 94.2 points in June from 95.2 points in May.Our Top PicksAt this stage, it will be prudent to invest in gold stocks with strong growth potential. We have narrowed down our search to five such stocks, each of which carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.The chart below shows price performance of our five picks in the past three months.
AngloGold Ashanti Ltd.AU is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. It has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in 10 countries. The stock sports a Zacks Rank #1. The company has expected earnings growth of 90.6% for the current year. The Zacks Consensus Estimate for the current year has improved by 2% over the last 60 days.Rio Tinto GroupRIO is an international mining company, currently sporting a Zacks Rank #1. It has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. The company has expected earnings growth of 36.9% for the current year. The Zacks Consensus Estimate for the current year has improved by 3.1% over the last 60 days.SSR Mining Inc.SSRM engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The Zacks Rank #1 company primarily explores for gold and silver deposits. The company has expected earnings growth of 73.9% for the current year. The Zacks Consensus Estimate for the current year has improved by 14.3% over the last 60 days.Franco-Nevada Corp.FNV is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The company carries a Zacks Rank #2 and has expected earnings growth of 12% for the current year. The Zacks Consensus Estimate for the current year has improved by 5.6% over the last 60 days.BHP Group plcBBL engages in mining of copper, silver, lead, zinc, molybdenum, uranium, gold, iron ores, metallurgical and energy coal. The stock carries a Zacks Rank #2. The company has expected earnings growth of 13.1% for the current year. The Zacks Consensus Estimate for the current year has improved by 0.5% over the last 60 days.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportFranco-Nevada Corporation (FNV) : Free Stock Analysis ReportAngloGold Ashanti Limited (AU) : Free Stock Analysis ReportBHP Billiton PLC (BBL) : Free Stock Analysis ReportRio Tinto PLC (RIO) : Free Stock Analysis ReportSilver Standard Resources Inc. (SSRM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
The Zacks Analyst Blog Highlights: Deutsche Bank, HSBC, DBS and Banco Latinoamericano
For Immediate Release Chicago, IL –June 25, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Deutsche Bank DB, HSBC Holdings plc HSBC, DBS Group Holdings Ltd DBSDY and Banco Latinoamericano de Comercio Exterior, S.A. BLX. Here are highlights from Monday’s Analyst Blog: Fed Questions Deutsche Bank (DB) for Bad Bank Proposal Per a Financial Times article, Deutsche Bank is being questioned by the U.S. regulators related to the impact on the German Bank’s U.S. operations after implementation of its “bad bank” proposal. The U.S. Federal Reserve officials demand details of the bank’s strategic plan which involves cutting down its investment banking operations. Notably, following the failure of the annual stress test last year, the U.S. unit of the German bank is deprived off providing any payments to its parent company in Germany without Fed permission. For failure of the test, Fed said “widespread and critical deficiencies” in the bank’s capital planning. Though Deutsche Bank’s U.S. arm has cleared the first round of stress tests 2019, the second-round results to be reported later this week will decide the rescinding of restrictions on the bank. The Expected Proposal Under the proposals, Deutsche Bank is mulling to make cutbacks in the U.S. equities trading business, including prime brokerage and equity derivatives. The bank would create a ‘bad bank’, a measure used by failed U.K. banks post the 2008 financial crisis. The newly-formed unit would hold tens of billions of Euros of assets worth around €50 billion as the bank’s chief executive officer (CEO) Christian Sewing is trimming its investment banking division. This includes Sewing’s plans to shrink or shut down the equity and rates trading businesses outside continental Europe completely, and focus on the core transaction banking and private wealth management business. The German bank’s planned divestiture of the assets is unlikely to hit its profit or capital due to the non-toxic nature. However, better-performing bond trading business and currency-trading operation will be retained by the bank. The proposed changes are expected to be announced with the bank’s six-month results in the second half of July. “As we said at the AGM on 23 May, Deutsche Bank is working on measures to accelerate its transformation so as to improve its sustainable profitability. We will update all stakeholders if and when required,” Deutsche Bank noted in an e-mailed statement. Story continues Our Viewpoint Deutsche Bank is under pressure to trim its investment banking division, following the collapse of merger talks with domestic rival Commerzbank. Though Deutsche Bank’s restructuring efforts, including cost-saving measures, look encouraging, it is difficult to determine how much the bank will gain, considering the prevalent headwinds. Furthermore, dismal revenue performance is another concern. Deutsche Bank currently carries a Zacks Rank #4 (Sell). Shares of Deutsche Bank have lost around 9.2% on the NYSE, in the last six months, as against the industry’s growth of 9.7%. Stocks to Consider HSBC Holdings plc has been witnessing upward estimate revisions for the past 60 days, with the company’s shares surging nearly 1.8% on the NYSE, in six months’ time. It sports a Zacks Rank of 1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here . DBS Group Holdings Ltd has been witnessing upward estimate revisions for the past 60 days. Over the past six months, this Zacks #1 Ranked company’s shares have been up more than 12% on the NYSE. Banco Latinoamericano de Comercio Exterior, S.A. has been witnessing upward estimate revisions for the past 60 days. In the past six months, this Zacks Rank #1 company’s shares have been up more than 27% on the NYSE. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >> > Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. 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 Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report DBS Group Holdings Ltd (DBSDY) : Free Stock Analysis Report HSBC Holdings plc (HSBC) : Free Stock Analysis Report Banco Latinoamericano de Comercio Exterior, S.A. (BLX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments |
Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi
By Allison Lampert and Debroop Roy
(Reuters) - Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation.
Montreal-based Bombardier has been selling off its weaker-performing commercial plane programs aimed at airlines to focus on profitable business jets and passenger rail cars. The company faced a cash-crunch in 2015 while bringing a larger narrow body jet to market.
The deal, which Bombardier said was completed at 6:30 a.m. ET (1030 GMT) on Tuesday, is expected to close in the first half of next year.
Under the agreement, the Japanese firm will take over $200 million in liabilities, but receive Bombardier's estimated $180 million interest in a financing structure it created to support aircraft leasing.
In an interview, Bombardier Chief Executive Alain Bellemare said some proceeds would be used to reduce debt.
"I'm not going to do the math, but that's clearly the game plan," he said by phone.
The proceeds exceeded some analysts' expectations.
"It generates a return better than we had anticipated and ends the company's exposure in a program which we believe was a drag on earnings," AltaCorp analyst Chris Murray said in a note.
Bombardier has an additional $400 million liability from residual value guarantees provided to airlines on the regional jet program.
Bellemare said he did not see a "problem" gaining regulatory approval.
Jean-Luc Ferland, a spokesman for Canada's Innovation Minister Navdeep Bains, said details of the agreement will be reviewed "to ensure it benefits Canadians."
Bombardier will continue to assemble its regional jet planes (CRJ), but will stop making the aircraft in the second half of 2020, after it finishes delivering on its remaining backlog of 42 orders.
CRJ's profitable aftermarket sales, engineering expertise and heavy maintenance centers in the United States, would be useful for Mitsubishi, which is trying to develop and certify its delayed regional jet program, the MRJ, which has been rebranded as "SpaceJet."
"It's an important step for us as a whole," said Dan Lochmann, a spokesman for MHI.
Bellemare said about 400 workers producing the CRJ in the Montreal-area would likely find other jobs, such as with Airbus, which needs workers for the A220 jet it acquired last year from Bombardier.
"We believe there are plenty of opportunities to reposition these people," he said.
Bombardier and Mitsubishi had previously said they were holding talks over the regional jet program.
The Japanese firm is trying to certify the plane, which has been delayed by several years with its first customer, ANA Holdings Inc. It now expects delivery in 2020 rather than in 2013 as originally planned.
A trade secrets lawsuit brought by Bombardier against Mitsubishi's aircraft unit has been "stayed" or suspended and will be dropped when the deal closes.
Shares of Bombardier pared earlier gains to close up 2.74% at C$2.25 ($1.71) in Toronto.
(Reporting by Allison Lampert in Montreal and Debroop Roy in Bengaluru; additional reporting by Steve Scherer in Ottawa and Tim Hepher in Paris; editing by James Emmanuel, Susan Thomas, Tom Brown and Richard Chang) |
Olivia Munn Holds *Nothing* Back When Trying These Vegan Ice Creams
Photo credit: Vivien Killilea - Getty Images From Women's Health Olivia Munn's crazy-impressive resume already includes sports reporting, acting, modeling, and animal rights activism. But now she can add food critic to the list. Okay, not exactly...but she did taste test some non-dairy, vegan ice creams for Women's Health 's "Food Fight" series. While Olivia isn't a vegan herself (she shared that her fave frozen treat of all time is the definitely-not-vegan Thrifty rocky road ice cream at Rite Aid), she is, as I mentioned, a huge animal rights supporter (see: any number of her campaigns with PETA ). So she was definitely down to do some plant-based treat sampling. Let me be clear: Not every ice cream was a winner. But others were delicious-and basically indistinguishable from "regular" ice cream, according to Olivia (umm, are you sure you weren't a food critic in your previous life, O? Because your descriptions of these pints are 👏🏻👏🏻👏🏻 ). Check out the full list of pints that Olivia Munn tried: Ben & Jerry’s Cherry Garcia Non-Dairy Frozen Dessert McConnell’s Dairy-Free Toasted Coconut Almond Chip Talenti Peanut Butter Fudge Dairy-Free Sorbetto Halo Top Non-Dairy Sea Salt Caramel So Delicious Snickerdoodle Cashew Milk Frozen Dessert McConnell’s Dark Chocolate Chip NadaMoo! Lotta Mint Chip Dairy-Free Frozen Dessert Watch the video to find out which pint was Olivia's fave...but don't blame us if you have a serious ice cream afterward. You know, just in case you needed another excuse (or two...or three...) to hit up Whole Foods and stock up on vegan frozen treats for the summer... ('You Might Also Like',) 14 Keto Breakfast Recipes That Make Waking Up So Much Easier 13 MS Symptoms In Women That Shouldn't Be Ignored Love Carbs? We Created This 21-Day Keto Diet Plan Just for You |
Is MeetMe Too Racy for Apple's App Store?
One of last year's hottest social media stocks is coming under fire in 2019. Shares ofTheMeet Group(NASDAQ: MEET)tumbled 7% on Monday, after aNew York Poststory came out over the weekend suggesting thatApple(NASDAQ: AAPL)was about to boot it from its App Store on concerns of prostitution and other forms of adult entertainment taking place on MeetMe's live-streaming platform.
The Meet Group defended its fast-growing video offering when the accusations were raised by a bearish blogger earlier this month, a move that sent the once-red-hot shares to afresh 52-week low. It stood by the safety that MeetMe provides for its 15 million active users, pointing to the human and tech filters that help sniff out dubious visual content as well as the proprietary text-monitoring system for threats and abuses. When Oppenheimer initiated coverage of the stock late last week -- with a bullish rating -- it seemed as if the worst was in the past for The Meet Group. The uncertainty will continue now until investors see if there's any meat to thePostarticle.
Image source: The Meet Group.
The Meet Group shares soared 64% last year, and by the time the stock hit a multiyear high in March of this year, it had more than doubled since the start of last year. It's been all downhill since then, as the stock has shed nearly half of its peak value.
With beefy slides after amixed fourth-quarterreport in early April and a moredisappointing first-quarter releaselast month, investors have soured on the stock. Now, there are fresh concerns that Apple may either boot it from the App Store or force it into restrictive changes if it wishes to continue to be available on iOS devices.
Investors last year were cheering the growing popularity of video streams to its MeetMe and Skout social discovery and dating sites. By the time the first quarter of this year rolled around, video-related revenue had roughly quadrupled to account for 40% of The Meet Group's revenue. Members can purchase digital currency to tip popular performances -- a slippery slope, naturally -- and since The Meet Group and Apple each commands roughly a third of the revenue generated from the purchases.
Keeping porn and violent content off mainstream social media sites is never going to be a perfect process. The problem with live-streaming platforms that feast on virtual tip jars is that by the time any specific incident that crosses the line gets reported, it's already over. A lot of The Meet Group's growth -- including Oppenheimer analyst Jed Kelly's bullish initiation last Thursday -- is riding on the success of that video service.
Kelly feels that the the push into live-streaming video will improve the quality of The Meet Group's revenue. His price target of $7 is more than double where the shares are now, as Kelly sees more paying users contributing to improving sentiment for the stock as well as justifying higher valuation multiples. The upside is certainly there if The Meet Group's social offerings are still on Apple's App Store in the future, especially the way that video helped drive the better-than-expected 32% revenue growth in The Meet Group's latest quarter. The stock has been volatile in the past, and that's not going to change as the gray clouds loom overhead.
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Rick Munarrizowns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. |
Innovator Announces Upside Cap Ranges for July Series of S&P 500, MSCI EAFE and Emerging Markets Defined Outcome Buffer ETFs
The only ETFs with built-in buffers on the S&P 500, MSCI EAFE and MSCI Emerging Markets Indexes
CHICAGO, IL / ACCESSWIRE / June 25, 2019 /
Innovator Capital Management, LLC(Innovator) announced today the anticipated upside cap ranges and return profiles for the July Series of Innovator S&P 500, MSCI EAFE and MSCI Emerging Markets Buffer ETFs, which will go into effect July 1, 2019 for the next one year outcome period.
TheInnovator S&P 500 Buffer ETFsm suiteseeks to provide investors with exposure to the S&P 500 Price Return Index (S&P 500) up to a Cap, with downside buffer levels of 9%, 15%, or 30% over an Outcome Period of approximately one year. The ETFs reset annually and can be held indefinitely. Innovator S&P 500 Buffer ETFs, with over $931 million in AUM as of June 24, 2019, are among the fastest growing new category of ETFs in the market today.
Anticipated return profiles for the July Series ofInnovator S&P 500,MSCI EAFE and MSCI Emerging Markets Buffer ETFs, as of6/24/19
[{"Ticker": "BJUL", "Name": "Innovator S&P 500 Buffer ETF", "Buffer Level": "9.00%", "Cap range*": "12.65 - 15.90% (gross)11.86 - 15.11% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}, {"Ticker": "PJUL", "Name": "Innovator S&P 500 Power Buffer ETF", "Buffer Level": "15.00%", "Cap range*": "7.60 - 10.15% (gross)6.81 - 9.36% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}, {"Ticker": "UJUL", "Name": "Innovator S&P 500 Ultra Buffer ETF", "Buffer Level": "30.00%(-5% to -35%)", "Cap range*": "7.38 - 9.39% (gross)6.59 - 8.60% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}, {"Ticker": "EJUL", "Name": "Innovator MSCI Emerging MarketsPower Buffer ETF", "Buffer Level": "15.00%", "Cap range*": "8.10 - 14.59% (gross)7.21 - 13.70% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}, {"Ticker": "IJUL", "Name": "Innovator MSCI EAFE Power Buffer ETF", "Buffer Level": "15.00%", "Cap range*": "7.33 - 12.00% (gross)6.48 - 11.15% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}]
* The Cap Ranges above are based on the highest and lowest Cap as illustrated by the Funds' strategy from 5/23/19 - 6/21/19 and are shown gross and net of the S&P 500 Buffer ETFs' 0.79% management fee, EJUL's 0.89% management fee, and IJUL's 0.85% management fee. The actual Cap for each Fund will be set at the beginning of the Outcome Period, and is dependent upon market conditions at that time. Periods of high market volatility could result in higher caps, and lower volatility could result in lower caps. As a result, the Cap set by each Fund may be higher or lower than the Cap Range. "Cap" refers to the maximum potential return, before fees and expensesand any shareholder transaction fees and any extraordinary expenses,if held over the full Outcome Period. "Buffer" refers to the amount of downside protection the fund seeks to provide, before fees and expenses, over the full Outcome Period. Outcome Period is the intended length of time over which the defined outcomes are sought.Upon fund launch, the Caps can be found on a daily basis viawww.innovatoretfs.com. EJUL and IJUL are not yet available for investment.
The Innovator MSCI Emerging Markets Power Buffer and Innovator MSCI EAFE Power Buffer ETFs seek to provide exposure to the price return of their respective indexes up to a Cap, with a downside buffer level of 15% over an Outcome Period of approximately one year. The ETFs reset annually and can be held indefinitely.
Upcoming Webinars
Continuing educational efforts around Defined Outcome ETF investing, Innovator will be hosting its next webinar, titled, MSCI Emerging Markets and MSCI EAFE ETFs with Built-In Downside Buffers and Upside, to a Cap, on June 25, 2019 at 1pm ET. Additional information including event registration is available using the following link:http://www.innovatoretfs.com/webinars.
TheFunds have characteristics unlike many other traditional investment productsand may not be suitable for all investors. For more information regardingwhether an investment in the Fund is right for you, please see "InvestorSuitability" in the prospectus.
The InnovatorDefined Outcome Suite of ETFs
MSCI Emerging Markets:
InnovatorMSCI Emerging Markets Power Buffer ETF (NYSE:EJUL):Designed to track the price returns of the MSCI Emerging Markets Index (up to a predetermined Cap) while buffering investors against the first 15% of losses over the Outcome Period, before fees and expenses.
MSCI EAFE:
InnovatorMSCI EAFE Power Buffer ETF (NYSE:IJUL):Designed to track the price returns of the MSCI EAFE Index (up to a predetermined Cap) while buffering investors against the first 15% of losses over the Outcome Period, before fees and expenses.
S&P 500 Buffer ETFs:
Innovator S&P 500 Buffer ETFs (Cboe:BJUN,BAPR,BJUL,BOCT,BJAN):Designed to track the return of the S&P 500 (up to a predetermined Cap) while buffering investors against the first 9% of losses over the Outcome Period, before fees and expenses.
Innovator S&P 500 Power Buffer ETFs(Cboe:PJUN,PAPR,PJUL,POCT,PJAN):Designed to track the return of the S&P 500 (up to a predetermined Cap) while buffering investors against the first 15% of losses over the Outcome Period, before fees and expenses.
Innovator S&P 500 Ultra Buffer ETFs(Cboe:UJUN,UAPR,UJUL,UOCT,UJAN):Designed to track the return of the S&P 500 (up to a predetermined Cap) while buffering investors against a decline of 30% of losses over the Outcome Period, from -5% to -35%, before fees and expenses. Investors are exposed to loss between 0% and 5% and over 35% over the Outcome Period, before fees and expenses.
About Innovator Defined Outcome ETFs
Each Innovator Defined Outcome ETFSMseeks to provide a defined exposure to a broad market index (such as the S&P 500, MSCI EAFE or MSCI EM) where the downside buffer level, upside growth potential to a Cap, and Outcome Period are all known, prior to investing.
Innovator recently began expanding its suite of S&P 500 Buffer ETFs into a monthly series to provide investors more opportunities to purchase shares as close to the beginning of their respective Outcome Periods as possible. Investors can purchase shares of a previously listed Defined Outcome Buffer ETF throughout the entire Outcome Period, obtaining a current set of defined outcome parameters, which are disclosed daily through a web tool available at:http://innovatoretfs.com/define/.
Innovator is focused on delivering defined outcome based solutions inside the benefit-rich ETF wrapper, retaining many of the features that have contributed to the success of structured products1(e.g., downside buffer levels, upside participation, defined outcome parameters), but with the added benefits of transparency, liquidity and lower costs afforded by the ETF structure.
Interim Period Shareholders
Unlike structured notes, which offer limited liquidity, Innovator Defined Outcome ETFs trade throughout the day on an exchange, like a stock. As a result, investors purchasing shares of a Fund after its launch date may achieve a different payoff profile than those who entered the Fund on day one. Innovator recognizes this as a benefit of the Funds and provides a web-based tool that allows investors to know, in real-time throughout the trading day, their potential defined outcome return profile before they invest, based on the current ETF price and the Outcome Period remaining. Innovator's web tool can be accessed athttp://www.innovatoretfs.com/define.
ETFConstruction
Each Fund will hold a portfolio of custom exchange-traded FLEX Options that have varying strike prices (the price at which the option purchaser may buy or sell the security, at the expiration date), and the same expiration date (approximately one year). The layering of these FLEX Options with varying strike prices provides the mechanism for producing a Fund's desired outcome (i.e. Cap or buffer). Each Fund intends to roll options components annually, on the last business day of the month associated with each Fund.
The ETFs are subadvised by Milliman Financial Risk Management LLC (Milliman FRM), a global leader in financial risk management. Milliman FRM was also instrumental in the design of the Cboe S&P 500 Target Outcome Indexes, which the Innovator Defined Outcome ETFs are benchmarked against.
Althougheach Fund seeks to achieve the defined outcomes stated in its investmentobjective, there is no guarantee that it will do so. The returns that the Fundsseek to provide do not include the costs associated with purchasing shares ofthe Fund and certain expenses incurred by the Fund.
About Innovator Capital Management, LLC
Innovator Capital Management, LLC is an SEC registered investment advisor (RIA) based in Wheaton, IL. Formed in 2014, the firm is currently headed by ETF visionaries Bruce Bond and John Southard, founders of one of the largest ETF providers in the world. Innovation is our hallmark and acts as a guide to our company principles. Innovator is committed to helping investors better control their financial outcomes by providing investment opportunities they never considered or thought possible. For additional information, visitwww.innovatoretfs.com.
About Milliman Financial Risk Management LLC
Milliman Financial Risk Management LLC (Milliman FRM) is a global leader in financial risk management to the retirement industry, providing investment advisory, hedging, and consulting services on over $147.6 billion in global assets as of March 31, 2019. For more information about Milliman FRM, visitwww.Milliman.com/FRM.
MediaContactBill Conboy+1 (303) 415-2290bill@bccapitalpartners.com
1Structured notes and structured annuities are financial instruments designed and created to afford investors exposure to an underlying asset through a derivative contract. It is important to note that these ETFs are not structured notes or structured annuities.
Investinginvolves risks.The Funds face numerous market trading risks, including active markets risk, authorized participation concentration risk, buffered loss risk, Cap change risk, capped upside return risk, correlation risk, FLEX Option counterparty risk, cyber security risk, fluctuation of net asset value risk, investment objective risk, limitations of intraday indicative value risk, liquidity risk, management risk, market maker risk, market risk, non-diversification risk, operation risk, options risk, Outcome Period risk, tax risk, trading issues risk, upside participation risk and valuation risk. Unlike mutual funds, the Funds may trade at a premium or discount to their net asset value. ETFs are bought and sold at market price and not individually redeemed from the Fund. Brokerage commissions will reduce returns.
The outcomes that a Fund seeks to provide may only be realized if you are holding shares on the first day of the Outcome Period and continue to hold them on the last day of the Outcome Period, approximately one year. If you purchase shares after the Outcome Period has begun or sell shares prior to the Outcome Period's conclusion, you may experience very different investment returns from those that a Fund seeks to provide.
These Funds are designed to provide point-to-point exposure to the price return of the S&P 500, MSCI Emerging Markets and MSCI EAFE indexes via a basket of FLEX Options. As a result, the ETFs are not expected to move directly in line with the indexes during the interim period.
FLEXOptions Risk.The Fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). FLEX options, are non-standard options that allow both the writer and purchaser to negotiate various terms. Terms that are negotiable include the exercise style, strike price, expiration date, as well as other feature. The Fund bears the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than certain other securities such as standardized options. In less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.
Fundshareholders are subject to an upside return cap (the "Cap") thatrepresents the maximum percentage return an investor can achieve from aninvestment in the funds' for the Outcome Period, before fees and expenses. Ifthe Outcome Period has begun and the Fund has increased in value to a levelnear to the Cap, an investor purchasing at that price has little or no abilityto achieve gains but remains vulnerable to downside risks. Additionally, theCap may rise or fall from one Outcome Period to the next. The Cap, and theFund's position relative to it, should be considered before investing in theFund. The Funds' website, www.innovatoretfs.com, provides important Fundinformation as well information relating to the potential outcomes of aninvestment in a Fund on a daily basis.
TheFunds only seek to provide shareholders that hold shares for the entire OutcomePeriod with their respective buffer level againstS&P 500,MSCI Emerging Markets and MSCI EAFEPrice Indexlosses during the Outcome Period. You will bear allS&P 500 PriceIndexlosses exceeding 9%, 15%, and 30%,respectively, and bear allMSCI Emerging Markets and MSCI EAFEPrice Index losses exceeding 15% respectively. Dependingupon market conditions at the time of purchase, a shareholder that purchasesshares after the Outcome Period has begun may also lose their entireinvestment. For instance, if the Outcome Period has begun and the Fund hasdecreased in value beyond the pre-determined 9% buffer, an investor purchasingshares at that price may not benefit from the buffer. Similarly, if the OutcomePeriod has begun and the Fund has increased in value, an investor purchasingshares at that price may not benefit from the buffer until the Fund's value hasdecreased to its value at the commencement of the Outcome Period.
TheETFs referred to herein is not sponsored, endorsed, or promoted by MSCI Inc. orbased upon the MSCI EAFE and MSCI Emerging Markets Indexes. MSCI Inc. bears noliability with respect to the ETFs.
MSCI, MSCI EAFE, and MSCI Emerging Markets are trademarks or service marks of MSCI Inc. or its affiliates ("Marks") and are used hereto subject to license from MSCI. All goodwill and use of Marks inures to the benefit of MSCI and its affiliates. No other use of the Marks is permitted without a license from MSCI.
Cboe Global Markets, Inc., and its affiliates do not recommend or make any representation as to possible Benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc., is not affiliated with S&P DJI, Milliman, or Innovator Capital Management. Investors should undertake their own due diligence regarding their securities, futures and investment practices.
Cboe Global Markets, Inc., and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, or as to the results to be obtained by recipients of the products.
Each Fund's investment objectives, risks, charges and expenses should be considered before investing. The prospectus contains this and other important information, and may be obtained at www.innovatoretfs.com or 800.208.5212. Read it carefully before investing.
INFORMATION CONTAINED HEREIN IS SUBJECT TO COMPLETION OR AMENDMENT. A REGISTRATION STATEMENT RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION BUT HAS NOT YET BECOME EFFECTIVE. THESE SECURITIES MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION STATEMENT BECOMES EFFECTIVE. THIS COMMUNICATION SHALL NOT CONSTITUTE AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER SECURITIES LAWS OF ANY SUCH STATE.
AN INDICATION OF INTEREST IN RESPONSE TO THIS ADVERTISEMENT WILL INVOLVE NO OBLIGATION OR COMMITMENT OF ANY KIND.
Innovator ETFs are distributed by Foreside Fund Services, LLC.
Copyright © 2019 Innovator Capital Management, LLC.
800.208.5212
SOURCE:Innovator
View source version on accesswire.com:https://www.accesswire.com/549559/Innovator-Announces-Upside-Cap-Ranges-for-July-Series-of-SP-500-MSCI-EAFE-and-Emerging-Markets-Defined-Outcome-Buffer-ETFs |
'Moss' free VR missions come to PlayStation, Oculus Rift, Vive and Windows
Oculus Quest owners were treated to afree new chapterof Polyarc's adorable puzzle gameMossback in May -- now it's rolling out to other platforms. On June 25th, the "Twilight Garden" update will roll out acrossPlayStation VR, Oculus Rift/S, HTC Vive and Windows MR, giving all VR gamers the chance to guide young hero mouse Quill through an enchanting new world of puzzle adventures. The Twilight Garden will update automatically and for free, while the game itself is available for download through Steam, Oculus Rift and HTC Viveport stores for $30. |
Lion One Reports First Results of 2019 Drilling from Tuvatu Gold Project in Fiji
North Vancouver, British Columbia--(Newsfile Corp. - June 25, 2019) -Lion One Metals Limited(TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO)("Lion One" or the "Company")is pleased to announce results from the first six diamond drill holes from its 2019 exploration program at its 100% owned and fully permitted high grade Tuvatu Gold Project in Fiji. Notable results include:
[{"": "", "TUDDH480": "including", "3.21 m of 12.98 g/t Au": "0.38 m of 91.00 g/t Au"}, {"": "", "TUDDH480": "", "3.21 m of 12.98 g/t Au": "0.95 m of 15.79 g/t Au"}, {"": "", "TUDDH480": "including", "3.21 m of 12.98 g/t Au": "0.26 m of 50.20 g/t Au"}, {"": "", "TUDDH480": "TUDDH481", "3.21 m of 12.98 g/t Au": "0.85 m of 24.34 g/t Au"}, {"": "", "TUDDH480": "including", "3.21 m of 12.98 g/t Au": "0.35 m of 57.50 g/t Au"}, {"": "", "TUDDH480": "TUDDH484", "3.21 m of 12.98 g/t Au": "19.15 m of 8.07 g/t Au"}, {"": "", "TUDDH480": "including", "3.21 m of 12.98 g/t Au": "8.55 m of 10.51 g/t Au"}, {"": "", "TUDDH480": "", "3.21 m of 12.98 g/t Au": "5.25 m of 12.22 g/t Au"}, {"": "", "TUDDH480": "", "3.21 m of 12.98 g/t Au": ""}]
Please refer to the table below for a summary of the most significant results.
Drilling has focused on areas in the northern parts of the Tuvatu resource area targeting extensions of the H and T lodes. These lodes occur along a northwest-trending corridor of intense potassium alteration in which spongey textured feldspar and coarse biotite have replaced the host monzonite. The porous nature of this alteration allowed later gold-rich fluids to permeate this corridor producing what has only recently been recognized as a new, potentially important style of mineralization at Tuvatu. The long interval of continuous gold mineralization seen in hole TUDDH484, 19.15 m of 8.07 g/t Au, is one of the longest intervals of gold mineralization encountered to date at Tuvatu. These promising results indicate more exploration is needed to further test for extensions of this style of mineralization beyond the resource area.
Additional lodes, including notable low-angle SKL lodes, were also encountered in drilling. An intercept across lode SKL3 in hole TUDDH480 encountered 3.21 m of 12.98 g/t Au including 0.38 m of 91.00 g/t Au. SKL lodes appear to serve as linking structures that provided conduits for gold-rich fluids to access high angle structures during the time of gold deposition. Their importance is increasingly being recognized in the Tuvatu lode system.
Further results from the bottom half of TUDDH484 are awaited. Diamond drilling is continuing.
Lion One recently purchased the drilling assets of Fijian-based company Geodrill which has provided the Company with two diamond drills, one for surface drilling and one for underground. Operating these drills "in-house" has enabled Lion One to significantly reduce drilling cost, a huge benefit to the Company's ability to implement cost-effective exploration. Lion One plans to continue drilling through 2019, starting initially with near-resource drilling then testing new targets generated by the Company's current greenfield exploration campaign later in 2019 and 2020.
Navilawa Caldera Exploration
The Company has a commenced its 2019 Navilawa caldera exploration program (please refer to the Company's news release dated April 8, 2019 for further details). Lion One controls the entire Navilawa caldera, a 7-km diameter alkaline gold system of which the Company's Tuvatu high-grade vein deposit is a small part. To better understand the extent and distribution of gold mineralization within the caldera, initial exploration work includes specialized stream sediment sampling using a technique called bulk leach extractable gold ("BLEG") over the entire concession area. Navilawa is an ideal place for BLEG sampling given that gold predominantly occurs as fine grains within small fractures that, when weathered, should yield appreciable fine Au that generates a strong analytic response.
Lion One's Fijian crew was recently fully trained in BLEG sample collection, and field sampling has commenced in the southern half of the caldera (Figures 1 and 2). Approximately 80 total sample sites have been planned covering most of Lion One's concessions. Sampling is expected to take a couple months, and initial results from the southern half of the caldera are expected back in July at which point the Company will present data to the market.
"Our first 2019 drilling has returned strong results," commented Dr. Quinton Hennigh, technical advisor to Lion One. "The northwest-trending H-T corridor appears to have potential to host a significant new style of gold mineralization at Tuvatu. Further drilling is needed to chase this intriguing mineralization further along strike. In addition to drilling, our BLEG program is well underway. We eagerly await first results from the southern half of the Navilawa caldera. This is an important first step in expanding our understanding of the exploration potential at Tuvatu."
Qualified Person
Stephen Mann, P. Geo, is the qualified person pursuant to National Instrument 43-101 responsible for the technical information in this release. Mr. Mann is a certified professional geologist and member of the Australian Institute of Mining and Metallurgy (AusIMM) with over 30 years' experience in gold and uranium exploration throughout Australasia. Mr. Mann is not independent as he is Managing Director of Lion One and a shareholder of the Company. Mr. Mann is satisfied that the results are verified based on an inspection of the core, a review of the sampling procedures, the credentials of the professionals completing the work, and is familiar with the style and continuity of mineralization.
Quality Assurance and Control
The samples are transported by courier in security-sealed bags to the facilities of ALS Chemex in Townsville, Australia, for sample preparation and gold analysis by fire assay and multi-element inductively coupled plasma mass spectrometry (ICP). Apart from the routine ALS standards and duplicates, Lion One includes regular standards, blanks, and duplicates with every batch of samples submitted. All standards are internationally certified. The 2019 exploration program has been performed under the supervision of Lion One Managing Director Stephen Mann, P. Geo, who has prepared, reviewed, and approved the technical content of this release.
Figure 1: Lion One's Fijian crew training to collect BLEG samples
To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/2178/45847_8e212f4784013a71_001full.jpg
Figure 2: Lion One's Fijian crew training in method of BLEG sample treatment.
To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/2178/45847_8e212f4784013a71_002full.jpg
Table 1:Most Significant Diamond drill results: TUDDH479 to TUDDH484
[{"Drill Hole": "TUDDH479", "From (m)": "8", "To (m)": "10.5", "Interval (m)": "2.5", "True Width (m)": "1.40", "Au (g/t)": "4.23", "Zone": "T1"}, {"Drill Hole": "incl", "From (m)": "10", "To (m)": "10.5", "Interval (m)": "0.5", "True Width (m)": "", "Au (g/t)": "11.35", "Zone": "T1"}, {"Drill Hole": "TUDDH480", "From (m)": "49.43", "To (m)": "52.64", "Interval (m)": "3.21", "True Width (m)": "3.00", "Au (g/t)": "12.98", "Zone": "SKL3"}, {"Drill Hole": "incl", "From (m)": "51.55", "To (m)": "51.93", "Interval (m)": "0.38", "True Width (m)": "", "Au (g/t)": "91.00", "Zone": "SKL3"}, {"Drill Hole": "", "From (m)": "55.75", "To (m)": "56.7", "Interval (m)": "0.95", "True Width (m)": "0.50", "Au (g/t)": "15.79", "Zone": "GRF1"}, {"Drill Hole": "incl", "From (m)": "55.75", "To (m)": "56.01", "Interval (m)": "0.26", "True Width (m)": "", "Au (g/t)": "50.20", "Zone": "GRF1"}, {"Drill Hole": "", "From (m)": "65.7", "To (m)": "66.65", "Interval (m)": "0.95", "True Width (m)": "0.50", "Au (g/t)": "3.44", "Zone": "GRF2"}, {"Drill Hole": "", "From (m)": "79.93", "To (m)": "81.05", "Interval (m)": "1.12", "True Width (m)": "1.05", "Au (g/t)": "3.88", "Zone": "SKL6"}, {"Drill Hole": "", "From (m)": "100.60", "To (m)": "101.76", "Interval (m)": "1.16", "True Width (m)": "1.08", "Au (g/t)": "6.67", "Zone": "SKL8"}, {"Drill Hole": "incl", "From (m)": "100.60", "To (m)": "100.80", "Interval (m)": "0.2", "True Width (m)": "", "Au (g/t)": "33.50", "Zone": "SKL8"}, {"Drill Hole": "TUDDH481", "From (m)": "30.00", "To (m)": "45.05", "Interval (m)": "15.05", "True Width (m)": "4.10", "Au (g/t)": "2.94", "Zone": "H1"}, {"Drill Hole": "incl", "From (m)": "30.00", "To (m)": "30.85", "Interval (m)": "0.85", "True Width (m)": "", "Au (g/t)": "24.34", "Zone": "H1"}, {"Drill Hole": "incl", "From (m)": "30.00", "To (m)": "30.35", "Interval (m)": "0.35", "True Width (m)": "", "Au (g/t)": "57.50", "Zone": "H1"}, {"Drill Hole": "incl", "From (m)": "35.50", "To (m)": "37.58", "Interval (m)": "2.08", "True Width (m)": "", "Au (g/t)": "6.08", "Zone": "H1"}, {"Drill Hole": "incl", "From (m)": "36.53", "To (m)": "36.85", "Interval (m)": "0.32", "True Width (m)": "", "Au (g/t)": "31.20", "Zone": "H1"}, {"Drill Hole": "incl", "From (m)": "44.20", "To (m)": "45.05", "Interval (m)": "0.85", "True Width (m)": "", "Au (g/t)": "7.63", "Zone": "H1"}, {"Drill Hole": "", "From (m)": "50.60", "To (m)": "58.00", "Interval (m)": "7.4", "True Width (m)": "2.00", "Au (g/t)": "3.29", "Zone": "W1H/W"}, {"Drill Hole": "incl", "From (m)": "50.60", "To (m)": "51.00", "Interval (m)": "0.4", "True Width (m)": "", "Au (g/t)": "26.50", "Zone": "W1H/W"}, {"Drill Hole": "", "From (m)": "70.40", "To (m)": "72.35", "Interval (m)": "1.95", "True Width (m)": "0.50", "Au (g/t)": "4.26", "Zone": "H2"}, {"Drill Hole": "incl", "From (m)": "72.05", "To (m)": "72.35", "Interval (m)": "0.3", "True Width (m)": "", "Au (g/t)": "18.65", "Zone": "H2"}, {"Drill Hole": "TUDDH482", "From (m)": "9.00", "To (m)": "15.80", "Interval (m)": "6.8", "True Width (m)": "3.40", "Au (g/t)": "2.52", "Zone": "H1"}, {"Drill Hole": "incl", "From (m)": "11.50", "To (m)": "12.65", "Interval (m)": "1.15", "True Width (m)": "", "Au (g/t)": "5.13", "Zone": "H1"}, {"Drill Hole": "", "From (m)": "25.00", "To (m)": "29.95", "Interval (m)": "4.95", "True Width (m)": "2.50", "Au (g/t)": "1.64", "Zone": "H2"}, {"Drill Hole": "incl", "From (m)": "25.00", "To (m)": "25.60", "Interval (m)": "0.6", "True Width (m)": "", "Au (g/t)": "5.97", "Zone": "H2"}, {"Drill Hole": "TUDDH483", "From (m)": "72.90", "To (m)": "77.70", "Interval (m)": "4.8", "True Width (m)": "2.30", "Au (g/t)": "2.11", "Zone": "H2"}, {"Drill Hole": "incl", "From (m)": "75.70", "To (m)": "77.70", "Interval (m)": "2", "True Width (m)": "", "Au (g/t)": "3.75", "Zone": "H2"}, {"Drill Hole": "incl", "From (m)": "77.35", "To (m)": "77.70", "Interval (m)": "0.35", "True Width (m)": "", "Au (g/t)": "11.85", "Zone": "H2"}, {"Drill Hole": "TUDDH484", "From (m)": "53.70", "To (m)": "54.75", "Interval (m)": "1.05", "True Width (m)": "0.40", "Au (g/t)": "37.48", "Zone": "GFR2"}, {"Drill Hole": "", "From (m)": "58.55", "To (m)": "77.70", "Interval (m)": "19.15", "True Width (m)": "4.80", "Au (g/t)": "8.07", "Zone": "T1"}, {"Drill Hole": "incl", "From (m)": "58.55", "To (m)": "67.10", "Interval (m)": "8.55", "True Width (m)": "", "Au (g/t)": "10.51", "Zone": "T1"}, {"Drill Hole": "incl", "From (m)": "72.45", "To (m)": "77.70", "Interval (m)": "5.25", "True Width (m)": "", "Au (g/t)": "12.22", "Zone": "T1"}, {"Drill Hole": "", "From (m)": "83.70", "To (m)": "88.17", "Interval (m)": "4.47", "True Width (m)": "1.60", "Au (g/t)": "6.37", "Zone": "West HW"}]
Table 2:Diamond Drill Hole Logistics (TUDDH479 to TUDDH484) (difference between TN and MN is 12o)
[["", "N", "E", "", "", "", ""], ["TUDDH479", "3921001.996", "1876436.44", "223.71", "152.60", "-58.40", "92.70"], ["TUDDH480", "3920865.008", "1876426.03", "218.55", "173.70", "-58.05", "117.49"], ["TUDDH481", "3921047.38", "1876430.33", "198.50", "200.50", "-49.18", "149.93"], ["TUDDH482", "3921046.303", "1876423.45", "198.98", "104.50", "-49.15", "169.28"], ["TUDDH483", "3920982.219", "1876463.37", "231.34", "77.70", "-59.53", "331.87"], ["TUDDH484", "3920981.455", "1876461.42", "231.29", "218.70", "-53.34", "329.34"]]
About Lion One Metals Limited
Lion One's flagship asset is Tuvatu, its 100% owned and fully permitted underground gold project located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements in the adjoining Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One's CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors ofLion One Metals Limited"Walter Berukoff"Chairman and CEO
For further informationContact Investor RelationsToll Free (North America) Tel: 1-855-805-1250Email:info@liononemetals.comWebsite:www.liononemetals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be "forward-looking statements" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited's current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Award-Winning Creatives John Murnane and James Coulson Join Viewpoint
NEWTON, MA / ACCESSWIRE / June 25, 2019 /Viewpoint Creative, a leading boutique production and branding agency, and wholly-owned subsidiary of Dolphin Entertainment, Inc. (DLPN), has hired John Murnane as Director of Content and James Coulson as Senior Creative Director.
John Murnane is an Emmy Award-winning producer with 15 years of production experience, spanning television, advertising and digital content. Prior to Viewpoint, he was Executive Producer at Weber Shandwick, leading the global PR agency's largest video content practice. Mr. Murnane has produced award-winning branded films for clients including Harley Davidson, Maine Lobster, Takeda Pharmaceuticals, John Hancock, Honeywell and The Broad Institute. He began his career in New York City, where he worked on documentary series and programming for networks including ESPN, Fox Sports, Spike and ABC.
James Coulson began his career at the BBC in London. His clients have included BMW, Nike, IBM, Lionsgate, Samsung and Reebok, and he has led teams in all aspects of creative development and production for studios such as Imaginary Forces, Trollbäck+Company and Psyop in New York. Mr. Coulson oversaw the re-brand of the Sci Fi Channel to Syfy, and he has also successfully launched his own documentary series, "Other America."
"James and John are extremely talented and successful creative executives in the prime of their careers," states Dave Shilale, General Manager of Viewpoint. "With their extensive experience in video production and creative services for dozens of clients, we have significantly expanded our team to service our fast-growing roster of consumer brand and corporate clients."
About Viewpoint Creative
Founded in 1988, Viewpoint Creative is a full-service boutique creative, content and production house headquartered in Newton, Massachusetts. The company occupies 12,000 square feet in the Chapel Bridge Complex, which serves as home base to a staff of more than two dozen strategic creatives, including; creative directors, writers, designers, editors, animators, directors and producers, and includes a full complement of production capabilities across seven edit rooms, multiple seats of After Effects and Cinema 4D, an internal cyc'd production studio as well as a surround-sound mix, record and podcast studio.
About Dolphin Entertainment, Inc.
Dolphin Entertainmentis a leading independent entertainment marketing and premium content development company. Through our subsidiaries 42West and The Door, we provide expert strategic marketing and publicity services to many of the top brands, both individual and corporate, in the entertainment and lifestyle industries. The Door and 42West are both recognized global leaders in PR services for their respective industries and, in December 2017, the New York Observer listed them, respectively, as the third and fourth most powerful PR firms of any kind in the United States. Dolphin's recent acquisition of Viewpoint Creative adds full-service creative branding and production capabilities to our marketing group. Dolphin's legacy content production business, founded by Emmy-nominated CEO Bill O'Dowd, has produced multiple feature films and award-winning digital series.
Contact:
James CarbonaraHayden IR(646)-755-7412james@haydenir.com
SOURCE:Dolphin Entertainment, Inc.
View source version on accesswire.com:https://www.accesswire.com/549776/Award-Winning-Creatives-John-Murnane-and-James-Coulson-Join-Viewpoint |
Yelp Details Growth Plan Amid Depressed Share Price and Investor Unrest
Yelp wants to shed its reputation as a site solely for restaurant reviews. Instead, it wants to become a destination for finding and booking house cleaners, painters, and exterminators.
“Whenever you’re trying to get something done, you should be able to turn to Yelp,” said Jeremy Stoppelman, Yelp’s CEO. “Think of it as the remote control of your life.”
His comments are the most detailed yet about a planned five-year strategy unveiled in February that aims to accelerate Yelp’s slowing growth. Last year, revenue increased 11% compared to 19% growth in 2017.
Investors are concerned about the company’s sales outlook and declining stock price, which has tumbled 36% over the past nine months to $33.18. One hedge fund, SQN Investors, even called for the ousting of nearly half the board and a possible sale of the company.
“The 5-year history of Yelp’s underperformance continues,” SQN Investors said in a presentation in January. “Time is of the essence.”
Yelp’s idea is to charge business customers for more control over their Yelp profiles and to give users more reasons to use the site. At the same time, it hopes to keep costs in check.
“The overarching goal is we want to continue to deliver double-digit revenue growth,” Stoppelman said. “We want to drive more from the same-size sales team, and the way we’re doing that is through product innovation.”
On Tuesday, as part of its new plan, Yelp introduced three new products for businesses. Up to this point, the company has largely let reviewers control what’s on a business’ Yelp page, through their ability to praise or pan a particular business.
The three new products aim to let businesses post their own information. Companies must pay a dollar or two daily to have access to the features.
“They’re looking for ways to tell their story on Yelp,” said Vivek Patel, Yelp’s chief product officer. “So what could we offer to let them fill out their profile?”
One of Yelp’s new products, called business highlights, allows companies to say whether they’re family-owned, have certified professionals, or to specify how long they’ve been in business. Businesses can select six of 30 different categories, and the top two will appear in its description in Yelp’s search results.
Another option lets businesses include photos. This way a company can present some of its best work—instead of relying on reviewers to post photos, sometimes not so flattering—as well as show potential buyers examples of what the company can do.
Finally, Yelp formally rolled out verified license badges, which it had started debuting earlier this year. The badges tell users that Yelp has verified the business’ professional license within the last three months.
“This gives them a path to build up their profile even before they have reviews so they’re not starting with a blank slate,” Patel said about Yelp’s business customers.
Yelp’s planned upgrade includes features that tell users how much it costs to get their carpets cleaned or flooring installed, for example. As it is, users can only get those details by request a quote by messaging inside Yelp’s app or by calling the business directly.
Someday, Yelp may handle payments for services that users book through it, Stoppelman said, though he didn’t say when that would happen.
Yelp’s growth strategy shows early signs of progress, according to Colin Sebastian, analyst at Baird Equity Research. But analysts generally agree that there’s still a lot of work to be done.
“We still recognize the significant potential of the platform, although continued sales execution remains a key risk,” Sebastian wrote in a note to investors in May.
“Yelp continues to show a core business that remains challenged, which justifies a bearish stance on the stock,” Victor Anthony, analyst at Aegis Capital, wrote in a note to investors.
Over the past few years, Yelp has faced growing challenges.
In 2016,Googlechanged its algorithms to allegedly favor its own results and reviews, at Yelp’s expense. Since then, Yelp has been a vocal about Google’s alleged anticompetitive behavior and has called for antitrust investigations into its rival.
“Do they continue to do things that are anticompetitive? Absolutely,” Stoppelman said. “Should they be regulated? Absolutely.”
During the next couple of years, Yelp worked on a comeback, rolling out features like restaurant reservations and a waitlist that allowed diners to wait in line at home.
Then last year, the company hit another snag. Many small- and medium-size businesses no longer wanted to advertise with Yelp because they had to sign long-term contracts. In response, Yelp shifted to allow businesses to turn their ads on and off when they wanted. While the feature was a welcome change for businesses, Stoppelman said, it has made the company’s ad revenue unpredictable.
Furthermore, Yelp faces increased competition from a who’s who of tech giants. In 2015,Amazondebuted a marketplace for local professional services, andFacebookrolled out a section where local businesses could list their home services.
But Stoppelman suggested that Yelp will be fine, regardless. What works for one business may not necessarily work for another, he said.
“It’s not a zero sum game,” Stoppelman said. “A plumber may a have a hard time advertising with Facebook, whereas on Yelp we have people trying to solve plumbing problems.”
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Blockchain is revolutionising AI and prediction markets
With the rise of decentralised, open governance models aligned to a native cryptocurrency reward, developers are now able to create completely new types of software and dApps that live autonomously and provide real value. As more open source tools are developed in the fields of machine learning, predictive analytics, and neural networks, more businesses can be built up around these applications. SingularityNET How many corporations control the limited A.I resources of today? Will these select few corporations ensure a healthy integration of AI into our society? SingularityNET’s CEO @bengoertzel brings attention to such questions during the #WebitFestival 2019. https://t.co/5EZkxjSJUs — SingularityNET (@singularity_net) June 21, 2019 SingularityNET is definitely a project to look out for . Just recently, the non-profit organisation partnered with one of the most valuable companies in the US, Domino’s Pizza, to implement AI tools that allow for faster, safer, and more efficient ordering and delivery in Malaysia and Singapore. SingularityNET is also pushing towards decentralised governance, as it is implementing a flat decision-making model. Ben Goertzel, the project’s founder, told Coin Rivet during the recent Malta AI and Blockchain Summit: “We’re also working with our legal team and with governments like the Malta government to see in what way – if not right now, in one, two, or three years’ time even – could it be possible to have SingularityNET be a purely decentralised, autonomous organisation. That doesn’t mean something like the SingularityNET foundation wouldn’t exist, but it would mean the foundation doesn’t have any intrinsic distinguished role.” Story continues What SingularityNET wants to achieve is a world where anyone can create, share, and monetise AI services at scale. To achieve this outcome and to properly decentralise incentives, SingularityNET uses its own internal token – AGI – which is used as a means of payment between AI-powered applications. Endor June Development Update Hi Everyone, As we updated recently, we will begin to send monthly development updates make sure everyone is updated on product and development progress we are making. I'm happy share our first development update here below. https://t.co/GFETKkVimv — ENDOR (@EndorProtocol) June 19, 2019 The Endor protocol , a project released just last year, is also another interesting concept that is targeting the AI marketplace. Endor aims to replace existing machine learning solutions which are time consuming, complex, and expensive with a fully-automated, scalable, real-time data prediction system. To achieve that goal, Endor is powered by the latest AI science. The easy-to-use platform accepts any business queries and delivers highly accurate predictive answers. By allowing companies to anticipate evolving customer needs at the right time and at the right cost, Endor helps clients to move from doing business by looking in the rear-view mirror to focusing on the road ahead. In terms of its technology, Endor has some new and advanced features: Endor embeds actionable insights into your workflow by allowing all business teams to calculate predictions quickly and easily You can achieve much faster response times ahead of the competition as no data modeling or coding is required It uses Big Data in an agnostic manner – any structured data, whether clean or not, can be analysed It has the capability to compute on encrypted data without decrypting it, meeting global privacy and data security regulations Endor is powered by Social Physics – a new AI science developed at MIT that utilises behavioral commonalities Unlike SingularityNET, Endor’s core business is to focus on delivering already usable tools that connect AI with blockchain technology. It is already partnered with some big players such as Mastercard and Coca-Cola. According to the company’s white paper , the goal of the Endor token, EDR, is to deploy, store, and run AI applications on the blockchain. In essence, EDR powers all activity and transactions in the Endor protocol as it is fully-decentralised, permissionless, and open. The Endor protocol provides complete accountability for the prediction results. This prevents any manipulation or bias during the predictions. In addition, the decentralised and open nature of the protocol enables the support of any prediction, preventing censorship by any single point of authority. Augur Augur Weekly Report – June 19th 💻 Development Update 📈 Augur Metrics ✖️ Margin w/ bZx 🎥 Near Whiteboard Series: Augur 💭 Simple Thought Experiment to Understand Prediction Markets https://t.co/pbx8bzd4qj — Augur (@AugurProject) June 20, 2019 Last but not least, we have one of the earliest ERC-20 projects – the Augur protocol. As reported by Coin Rivet , Augur is already making quite interesting moves in the market. Augur is a decentralised, open, transparent, and permissionless prediction market. It allows users to bet on the outcome of certain events and to stake tokens in order to create markets. Because of its decentralised nature, any type of prediction is allowed – even really weird ones. Prediction markets extract the wisdom of a crowd, acting like a super-magnet that pulls in all the world’s information. Participants predict honestly and to the best of their ability since they have “skin in the game” and stand to lose or gain tokens based on the quality of their forecasts. Prediction markets not only extract existing knowledge but motivate the production of new knowledge. For example, prediction markets on the weather might motivate meteorologists to develop improved forecasting models. Prediction markets make the creation and revelation of knowledge competitive and meritocratic. By compensating good predictions and imposing costs for bad ones, prediction markets reward greater leverage to so-called super-forecasters over time while discouraging dishonest or inaccurate ones. The platform is powered by its own token, the Augur REP, which must be used to bet on the outcome of events or to create markets. The post Blockchain is revolutionising AI and prediction markets appeared first on Coin Rivet . |
Olivia Munn Had Health Problems After Speaking Out About Sexual Assault in Hollywood
Olivia Munn is working on her health after stress took its toll on her body. The actress, 38, said that frustrations during the last two years stemming from the sexual harassment cases in Hollywood — Munn was part of accusations of assault and sexual harassment against director Brett Ratner in 2017, and had to defend herself in 2018 after learning that she had been in scenes with a registered sex offender in The Predator — left her with a full-body rash that doctors couldn’t figure out at first. They initially thought Munn had lupus, but later determined that the rash was due to stress, which she said had to do with her concern over the direction of the Time’s Up movement . “One of the things that stresses me out more than anything, is how do we do right by [the people who spoke out]?” she said to Women’s Health for their July cover story . “It’s infuriating. We can’t tell stories about people and then not care about them. You can pretend to be a real-life hero in movies and TV shows and on Instagram, but the real advocates are the ones who stand beside the people who make a difference in the world.” Olivia Munn | Dennis Leupold With the source of the rash now known, Munn is working on her overall health. She’s into alternative therapies, like infrared-heated crystal mats, magnet therapy and ancient Chinese healing techniques, but there’s one form of self-care that she just can’t get into. “I tried so hard [to meditate] for years,” she admitted. “The tough thing for me about meditating is thinking, Am I doing it right? Did I do this for nothing? Do I have to start all over? My brain begins to spin.” Olivia Munn But Munn does love martial arts, which she started doing as a kid and rediscovered in 2015 when she filmed X-Men . At that point, she was training regularly in tae kwon do and following a strict diet — 80 percent raw foods and limited complex carbs and meat — which she plans to do again now that her schedule has slowed down. Story continues “When you do martial arts, it makes you feel like you’re physically capable of anything,” she said. “And the great side effect is that when you’re in your best shape, you actually will look your best too.” Olivia Munn | Dennis Leupold It also appeals to her competitive side, which Munn said comes out when she’s working toward something like a new movie. “As much as I care about looking and feeling my best, it’s not enough of a motivation for me,” she said. “I need a goal of accomplishing something.” |
Home price growth slows for the 13th straight month
Home price gains in the U.S. fell in April — marking the 13th consecutive month of slowing growth.
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 3.5% year-over-year increase in April, down from 3.7% in March. The 20-City Composite posted a 2.5% gain, down from 2.6% the previous month — the slowest pace since August 2012. Both results met analysts’ expectations.
“Home price gains continued in a trend of broad-based moderation,” said Philip Murphy, managing director and global head of index governance at S&P Dow Jones Indices, in a press statement. “Comparing the YOY National Index nominal change of 3.5% to April’s inflation rate of 2.0% yields a real house price change of 1.5% - edging closer to the real long run average of 1.2%.”
“We expect home price growth to continue in the low single digits for the remainder of the year as inventory rises,” said Ruben Gonzalez, chief economist at Keller Williams, in a statement.
Inventory, the number of homes for sale, which has been a factor in driving home prices up the past few yearshas been increasing in major markets, indicating that there may be some relief in home prices in the coming months.
Price growth in major markets continues upward but “at diminishing rates of change,” according to Murphy. In fact, in Seattle there was zero price growth in April, compared to a 13.1% annual gain the same month last year. Since June 2018, price growth in Amazon’s home city has been decelerating from its double-digit rates.Las Vegas led the 20-City Composite for 10 straight monthposting a 7.1% annual increase.
“The U.S. housing market is showing signs the cooldown may end within the next few months... half of the country’s markets are now seeing an increase in home price appreciation from March to April,” said Ralph B. McLaughlin, deputy chief economist and executive of research and insights for CoreLogic, in a statement. “This suggests the great cooldown of 2018-2019 might be coming to an end. Coupled with mortgage rates falling to 18-month lows, it seems the housing market frost is poised to thaw quickly this summer.”
Amanda Fung is an editor at Yahoo Finance.
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Shareholders Approve Canopy Growth-Acreage Acquisition Deal
Canopy Growth (TSX:WEED) (NYSE:CGC)is reporting that its shareholders voted overwhelmingly in favor of the issuance of common shares and certain amendments to certain outstanding company warrants in connection with the proposed acquisition ofAcreage Holdings.
The Canopy Shareholder Resolution was approved by approximately 99.05% of votes at the meeting in accordance with the requirements of the Toronto Stock Exchange. In addition to the approval by Canopy Growth shareholders, Acreage shareholders also approved the deal at the special meeting.
“On behalf of Canopy Growth, I thank the shareholders of both companies for their vote of confidence in this historic transaction,” Bruce Linton, chairman and co-CEO of Canopy, said in a statement.
“Completion of the transaction is intended to position us to efficiently and effectively enter the US cannabis market once federally permissible. Alongside our international market strategies and US Hemp strategy, we believe the acquisition of Acreage will be a key step in bolstering our position as a truly global company,” Linton noted.
Initial implementation of the transaction is subject to approval by the Supreme Court of British Columbia and satisfaction of certain other closing conditions.
Canopy and Acreage expect the transaction to be implemented on or about June 27. Completion of the deal is contingent on the occurrence or waiver, at Canopy’s discretion, of changes in U.S. federal law to permit the general cultivation, distribution, and possession of cannabis or to remove the regulation of such activities from the federal Laws of the U.S.
The postShareholders Approve Canopy Growth-Acreage Acquisition Dealappeared first onMarket Exclusive. |
Emerson Rolls Out Appleton FELED & FNLED Linear Luminaries
Emerson Electric Co.EMR recently unveiled the Appleton ATX FNLED luminaire and upgraded Appleton ATX FELED luminaire, expanding its portfolio of LED linear luminaires. While the company has developed the new Appleton ATX FNLED non-metallic luminaire for use in the IECEx/ATEX Zone 2 and 22 hazardous areas, the upgraded version of the Appleton ATX FELED luminaire is designed particularly for the IECEx/ATEX Zone 1 and 21 hazardous areas. The expansion of the portfolio will allow the company to extend its energy efficient and reliable lighting solution offerings across industrial facilities.
Easy to install and maintain, the ATX FELED luminaire is suitable for use in the oil and exploration, wastewater treatment, petrochemical plant and in industries where flammable gases’ combustible concentrations exist. Notably, the upgraded version of the ATX FELED luminaire offers better LED performance, with an expanded voltage range. On the other hand, the ATX FNLED is designed for use in warehouses, beverage processing, pharmaceuticals, alternative energy and marinas. Notably, both these luminaries have higher energy efficiency, longer service life and require low maintenance costs compared to its standard lighting counterparts.
Equipped with a fiberglass reinforced polyester body, hinged polycarbonate lens and an elastomer gasket, Appleton FELED and FNLED linear luminaries offer an ideal choice for industries seeking solutions for ingress protection from moisture and dust.
Existing Business Scenario
Emerson is witnessing solid demand in hybrid and process end markets, as well as robust growth in global professional tools and air conditioning market in North America. For fiscal 2019 (ending September 2019), the company anticipates benefiting from steady growth in North America heating and cooling, global professional tools, and Latin American end markets.
Also, acquisitions have been preferred mode of business expansion for the company over time. For instance, it used $243 million for acquisitions (net of cash acquired) in the first half of fiscal 2019 (ended March 2019). For fiscal 2019, the company anticipates acquired assets to boost sales by 5%.
In the past six months, the Zacks Rank #3 (Hold) stock has returned 11.8%, outperforming the industry’s rise of 11.1%.
However, increasing costs remain a cause of concern for Emerson. Notably, in the fiscal second quarter (ended March 2019), the company's cost of sales was up 8.8% year over year. This apart, its policy of acquiring a large number of companies adds to integration risks.
Stocks to Consider
Some better-ranked stocks from the Zacks Industrial Products sector are Harsco Corporation HSC, Flowserve Corporation FLS and IDEX Corporation IEX. While Harsco sports a Zacks Rank #1 (Strong Buy), Flowserve and IDEX carry a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Harsco delivered average earnings surprise of 11.40% in the trailing four quarters.
Flowserve pulled off average positive earnings surprise of 0.49% in the trailing four quarters.
IDEX delivered average earnings surprise of 5.69% in the trailing four quarters.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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 reportEmerson Electric Co. (EMR) : Free Stock Analysis ReportFlowserve Corporation (FLS) : Free Stock Analysis ReportIDEX Corporation (IEX) : Free Stock Analysis ReportHarsco Corporation (HSC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Discussing MPX International's South Africa Joint Venture With CEO Scott Boyes
ByJavier HasseandEric TerBush.
MPX International Corp(OTC:MPXOF) recently announced entrance into an agreement with South African producer First Growth Holdings Ltd. that will lead to the acquisition of a 51% interest in the company.
Interested in the acquisition and the African market, Benzinga reached out to Scott Boyes, Chairman, President and CEO of MPXI to discuss what makes South Africa so desirable, how their legislation impacts cannabis and where MPXI sees future potential in other African Markets.
Need more cannabis news?Check out all of our coveragehere.
MPXI’s African Venture
Launching a venture in an emerging market is risky. To launch a venture in an emerging market in an economically volatile continent is even more risky. MPXI chose to launch their new venture and face this risk. For MPXI, South Africa was the perfect country to establish a footprint.
“South Africa is more stable politically with a codified legal system, quickly evolving cannabis laws and a Western-style business climate," Boyes told Benzinga. "It is easier to attain EU-GAP certification than anywhere else in Africa and is also the home to many excellent and politically influential, agriculturally-experienced partners.
"MPXI has several shareholders who live in South Africa and have encouraged our investment there. They not only give us comfort by providing local advice and support but are also keen to see South Africa participate in the wealth creation that cannabis legalization is creating globally.”
Even without a helping hand, the winds of change echo through South Africa. The political landscape has rapidly transformed over the last decade, with a cultural shift towards progressive policy.
“With support from federal and local governments, cannabis laws are evolving quickly in South Africa," said Boyes. "New legislation not only ensures South Africa maintains agricultural standards that are capable of meeting Good Agricultural Practice Standards as defined by the European Union, but will accelerate revenue potential, especially with MPXI’s availability of high quality, CBD from Switzerland.”
See Also:South Africa Relaxes CBD Regulations: 'A Landmark Piece Of Legislation'
Future Expansion
Looking forward, Boyes said MPXI is taking an active look into other African countries for expansion. How they will compete in South Africa with Goodleaf, the first CBD store in the country?
“Currently, Goodleaf in South Africa is not yet fully established, but we plan to work in concert with Goodleaf to focus on exporting biomass and concentrates to Europe and Canada," said Boyes. "At the moment, we have a license for Zimbabwe and immediate potential for same in Lesotho but we are focused on South Africa for the above reasons.”
See more from Benzinga
• The Secret Sauce Behind The Best Performing Cannabis ETF In Canada
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
Coffee could help you burn fat, new study says
A new study has suggested a link between coffee and the activation of fat fighters in your body. Michael Symonds, a professor at the University of Nottingham and co-director of the study, said researchers found that coffee can stimulate what's known as brown fat. "Brown fat is a unique organ that is used for producing heat. It's present in quite small amounts in the body," he told USA TODAY. Brown fat cells are the body's internal fat fighters, the University of Nottingham said in a news release . When the body produces heat, it uses energy, thus burning calories. This is the first study that shows a cup of coffee can impact how brown fat functions, Symonds said in the release. Brown fat, or brown adipose tissue, impacts how quickly one's body burns calories. This type of tissue was thought, in the past, to exist only in hibernating mammals and babies, the university said. However, it has been found in human adults, too. People with a lower body mass index have more brown fat than people with a higher body mass index, according to the university. The study was published in Scientific Reports . Adults have between 50 and 100 grams of brown fat in their bodies, Symonds told USA TODAY, and when it is activated, it has the unique ability to produce 300 times more heat than any other organ in the body. When maximally activated, it can potentially produce up to 10% of the body's daily heat. Robot baristas: They may be the future of South Korea's coffee culture Researchers began the study using stem cells from mice and humans to test brown fat activity. Then they moved on to testing human volunteers by looking at brown fat activity in the neck within one hour after drinking a coffee. The coffee was specifically a serving of Nescafe Original with about 65 mg of caffeine, Symonds said. The consumption of coffee increased the activity of brown fat in humans, researchers found. And the control, caffeine dissolved in water, had no impact on brown fat activity. Story continues Symonds told USA TODAY that coffee helps fight diabetes in addition to obesity because not only does coffee consumption increase the capability of brown fat, it improves glucose levels. California says coffee is safe: Warning signs about coffee being linked to cancer can be taken down Researcher's next step will be to see if caffeine itself can activate brown fat, Symonds said. "From this study we saw just an increase in activity (of brown fat)," said Symonds. "But potentially, with longer term study looking at the effect of taking caffeine pills once or twice of day for a two week period increase in brown fat itself and an increase in activity." Follow Morgan Hines on Twitter: @MorganEmHines . This article originally appeared on USA TODAY: Coffee could help you burn fat, new study says |
Badass Fact Of The Day: Olivia Munn Has A Black Belt
From Women's Health When it comes to fashion and accessories, no doubt actress Olivia Munn has plenty of options at her disposable. But during her interview for the July cover story of Women's Health , the actress revealed that there's one accessory in her closet she's particularly proud of: "All the kids in my family had to do martial arts until we got a black belt," she shared. Boom! ...Or should I say, kiai! Her karate kid past came in handy when she took on the role of Psylocke in X-Men: The Apocolypse three years ago . “Psylocke is one of the most badass characters in the whole X-Men universe,” Munn says. “When I got on set, the stunt double for me was very athletic but she had never done fighting in her life. So I trained every day for six or seven hours and I did all of my own fight scenes.” Watch Munn participate in a different type of fight scene when she taste tests vegan ice creams : To better portray the telepathic ninja’s kickass skills, Munn started working with trainer Karine Lemieux from DAX , a martial arts-based gym in Montreal. “What I love about training Olivia is that it’s never about losing weight,” says Lemieux. “It’s about being healthy and feeling strong. She loves the challenge.” And you better believe martial arts-inspired training is intense-even if it doesn’t always feel that way. “Unlike with endless squats and sit-ups, you just don't feel that you're working out,” says Lemieux. But you will get the same body benefits (or maybe even more), because you’re combining strength work with flexibility and mobility training, which keeps your body and joints in peak condition. Another bonus? Even beginners feel like they've earned a black belt in badasser-y after only a few lessons. ('You Might Also Like',) 14 Keto Breakfast Recipes That Make Waking Up So Much Easier 13 MS Symptoms In Women That Shouldn't Be Ignored Love Carbs? We Created This 21-Day Keto Diet Plan Just for You View comments |
Better Buy: Baidu vs. Texas Instruments
You're not going to find much similarity betweenBaidu(NASDAQ: BIDU), the leading Chinese search provider, andTexas Instruments(NASDAQ: TXN), one of the top makers of analog and embedded processors.
But there are a few things both have in common: Each company has delivered solid returns for shareholders over the years, and both are facing near-term challenges based on macroeconomic issues.
Let's compare both companies to find out which stock is the better buy.
IMAGE SOURCE: GETTY IMAGES.
Baidu is often described as the "Google of China." Although the company has faced mounting competition from other Chinese tech giants, you can still argue that Baidu has awide moatbased on its position as the No. 1 search provider in the Middle Kingdom. Baidu's leadership in search allows it to collect tremendous amounts of data from its vast user base, which makes its search results more relevant, and, in turn, attracts more advertisers to Baidu's platform.
Baidu has grown enormously over the last decade, going from less than $1 billion in revenue in 2009 to $14.9 billion last year. Growth has slowed as Baidu has increased in size, but it's still posting solid gains on the top line. In the first quarter, adjusted revenue climbed 21% year over year.
However, the companyreported a loss on the bottom linedue to heavy investments in video streaming content and customer acquisition costs. The loss caught investors by surprise, which caused the stock to plummet following earnings.
Like its U.S.-based counterpart, Baidu has a roster of other businesses that generate a small percentage of revenue but could each grow into sizable businesses with time. These include investments in self-driving cars (Apollo), video streaming (via its majority ownership ofiQiyi), and Baidu's DuerOS voice assistant technology. Revenue from these businesses soared 73% year over year and made up 27% of total revenue in the first quarter.
On the surface, a 21% revenue growth rate for the first quarter looks healthy, but investors are concerned about slowing growth in Baidu's online marketing business, where revenue increased only 3% year over year last quarter due to macroeconomic issues weighing down ad spending in China. The stock price has been cut in half over the last year, but at a forward P/E of just 23 times this year's earnings estimates, Baidu could be a steal at these levels relative to its long-term growth potential.
The ad business should bounce back once the trade wars are resolved, and whenever that happens, Baidu should be in a stronger competitive position. The company has 1.1 billion monthly active users on mobile, which it is working to better monetize with additional in-app services. Plus, some of the deceleration in the online marketing business was due to some advertising customers having to shift their ad landing pages over to Baidu's platform, which recently caused some disruption in growth.
Overall, I believe the Chinese search giant will get through the near-term challenges,as it has before, and remain a solid growth stock for investors.
The maker of analog and embedded chips for everything from personal electronics to cars is also experiencing near-term issues. After several quarters of strong growth, the semiconductor industry entered a downturn last fall, which has hurt sales at Texas Instruments recently. In the first quarter, revenue dropped 5% year over year, and analysts expect the company's revenue and profits to both be down for the year.
It may take a few quarters before TI returns to growth. Meanwhile, management continues to focus on maximizing free cash flow andreturning all of it to shareholdersthrough share repurchases and dividends. Over the last year, the company's free cash flow jumped 22% despite the decline in revenue, which management credits to the strength of its business model. Over the last year, the company distributed a total of $8.4 billion -- an increase of 58% year over year -- via share repurchases and dividends.
One of the ways management is maximizing free cash flow is through initiatives to improve margins, which are already well above average given the company's sky-high operating margin of 44%. TI is still in the process of transitioning production from 200-millimeter wafers to 300-millimeter, which is expected to push gross margin higher.
Long term, TI should continue to benefit from secular growth tailwinds in the industrial and automotive markets, which offer the best growth prospects and profitability. However, TI is such a large company, manufacturing processors for so many different industries, that investors shouldn't expect more than a single-digit growth rate on the top line. Analysts expect TI to grow earnings 8.5% per year over the next five years.
Both Baidu and Texas Instruments have advantages in their respective markets that should deliver returns for shareholders over many years. But this better buy contest comes down to valuation.
Looking ahead to next year's earnings estimates, Baidu trades at just 15 times the consensus earnings estimate for 2020, whereas TI trades at a more expensive 19 times. Still, income investors may favor TI for its shareholder-friendly capital returns and the stock's generous dividend yield of 2.77%.
The main drawback with Baidu is that the stock may experience more volatility than shares of Texas Instruments. That is something investors need to be prepared for with any Chinese growth stock, but if you're looking for the stock that can deliver the best total return over the next decade and beyond, Baidu looks like the better buy at current prices.
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John Ballardhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Baidu. The Motley Fool owns shares of Texas Instruments. The Motley Fool recommends iQiyi. The Motley Fool has adisclosure policy. |
Chinas breaking up the EV battery monopoly it carefully created
As China phases out subsidies for electric vehicles next year, its also ending a related policy that effectively shut out foreign battery makers, creating the domestic monopoly we see today. Chinas Ministry of Industry and Information Technology (MIIT) announced yesterday (June 25, link in Chinese) it is dropping its practice of publishing lists of battery makers that met technical standards. The policy, put in place in 2015, was meant to help develop the industry. Supplying the information to get on the list was supposedly voluntary (link in Chinese), but in reality, using the batteries on the ministrys lists made it more likely car makers would qualify for government subsidies. As of 2016, the last time the list was updated, it included a total of 57 companiesnone of them foreign firms. Plant-based meats sound healthy, but theyre still processed foods As a result, the top 10 battery makers powering the worlds largest EV market are all Chinese (link in Chinese), according to 2018 data from the China Battery Industry Association. That means China dominates the value-added chain for domestically made electric vehicles, since batteries contribute 40% of the cost of an EVquite a contrast to the value added when China assembles an iPhone . Financial newspaper Economic Observer noted (link in Chinese) in April last year that Chinese car makers made their component decisions from the lists, while local governments and investment firms also consulted them. Associated with subsidies, these became known as the white lists,' the newspaper said. The lists included CATL, the worlds largest EV battery maker (Quartz membership), which supplies Chinese and foreign carmakers that include state-owned BJEV, one of the countrys biggest manufacturers, Volkswagen, Daimler, BMW, Honda, and Shanghai-based startu NIO . The worlds biggest EV manufacturer, BYD, is also the countrys second-biggest battery supplier, since it makes the batteries for its own electric carslast year it sold some 100,000 of them. Both BYD and CATL could supply batteries to Toyota cars soon. In third place is Guoxuan High Tech, a major supplier to state-owned carmaker BAIC Motor, the parent company of BJEV. Story continues Facebooks Libra is spurring central banks interest in issuing cryptocurrency This situation isnt the case everywhere. Tesla, the biggest US EV firm, gets its batteries from Japanese electronic firm Panasonic , Frances Renault sources the batteries for its ZOE electric vehicle from South Koreas LG Chem . Taking away the lists could benefit established foreign battery makers. Its a gesture of China opening up, along with pressure from G20 and trade, says Qiu Kaijun, who runs an EV news blog (Quartz membership). Chinese president Xi Jinping is set to discuss US-China trade tensions with US president Donald Trump on the sidelines of the G20 meeting of leaders of top economies, which begins in Japan Friday. Before the policy was put in place, when Chinas EV market was starting to take off , foreign firms like LG and fellow South Korean major Samsung were about to expand (link in Chinese) in China. In 2015, LG had opened a battery factory in Chinas eastern city Nanjing that could supply to more than 100,000 EVs (link in Chinese), yet it never got on the white list and the factory ended up being sold to Zhejiang-based carmaker Geely in 2017 (link in Chinese). Earlier, all the subsidies went to those using Chinese EV batteriesif you use LG and Samsung, you wont get subsidies, said Angus Chan, a Shanghai-based auto analyst at Bocom International, When 2020 comes, it will be free-market competition. Its straightforward for carmakersenergy density, safety, and price
Everybody is on the same racing starting point in the post-subsidy era. China began reducing its massive subsidies two years ago, and will move to a credit system next year. The scrapping of the battery lists comes at a time when China has rolled out the welcome mat for foreign EV firms in other ways. China last year said it would phase out foreign investment limits for car manufacturing, a rule that earlier made it impossible for foreign car makers to set up shop in China without a local partner. That reform began with manufacturers of electric vehicles, allowing Tesla to become the first foreign car maker with a wholly-owned plant in China. Located in Shanghai, it is taking orders for the first made-in-China Teslas, which are expected to roll out in the next six months. Other new rules limiting the number of new factories in a province mean Teslas factory has put a spanner in the works for local manufacturers who were also hoping to set up near one of the countrys most important cities for EV sales. Its clear Chinas EV industry is going to put under greater pressure as a result of these moveswhich could improve their technologies, or kill off some of the weaker firms. Already, CATL is looking beyond China, setting up offices in France, Canada, Japan, and Germany (Quartz membership). What happens after the typhoon passes? asked Zeng Yuqun, CATLs founder, in an internal email (link in Chinese) in 2017. Can a pig really fly? He was referring to a Chinese allegoryWhen the typhoon comes, the pig will flycomparing the government subsidies to strong winds lifting the companys fortunes, and warning of a possible heavy landing once those winds die down. Looking for more in-depth coverage? Sign up to become a member and r ead more in-depth coverage of Chinas electric-car boom in our field guide . Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Google and Facebook are circling Africa with huge undersea cables to get millions online The new White House press secretary took on North Korean security for US reporters |
5 Stocks With Recent Price Strength to Enhance Your Returns
“In the stock game, winning means reaching a higher price.” However, striking the right chord each time needs a fair amount of luck.No matter how disciplined and systematic investors are, equity market volatility will always manage to get the better of them. While a few lucky ones rake in the moolah, others fall victim to ad hoc strategies.One could resort to commonly used techniques to find beaten down stocks that have the potential to recover faster than others. However, even such investment choices bear the risk of disappointment. Particularly, one could fall into the value trap if the hidden weaknesses in selected stock are not identified.So, wouldn’t it be a safer strategy to look for stocks that are winners currently and have the potential to gain further?Sounds good? Here’s how to execute it:One should primarily target stocks that have recently been on a bull run. Actually, stocks seeing price strength recently have a high chance of carrying the momentum forward.If a stock is continuously witnessing an uptrend, there must be a solid reason or else it would have probably crashed. So, looking at stocks that are capable of beating the benchmark that they have set for themselves seems rational.However, recent price strength alone cannot create magic. Therefore, you need to set other relevant parameters to create a successful investment strategy.Here’s how you should create the screen to shortlist the current as well as the potential winners.Screening Parameters:Percentage Change in Price (4 Weeks) greater than zero:This criterion shows that the stock has moved higher in the last four weeks.Percentage Change Price (12 Weeks) greater than 10:This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.Zacks Rank 1:No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance. You can see the complete list of today’s Zacks #1 Rank stocks here.Average Broker Rating 1 or 2:This indicates that brokers are also highly hopeful about the stock’s future performance.Current Price greater than 5:The stocks must all be trading at a minimum of $5.Current Price/ 52-Week High-Low Range more than 85%:This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.Just these few criteria narrowed down the universe from over 7,700 stocks to just 31.Here we present five stocks out of those 31:SSR Mining Inc.SSRM engages in the acquisition, exploration, development, and operation of precious metal resource properties in the Americas. The company primarily explores for gold and silver deposits. The stock price jumped 26.8% in the past four weeks. The company has expected earnings growth of 73.9% for the current year. The Zacks Consensus Estimate for the current year has improved by 14.3% over the last 60 days.Qiwi plcQIWI operates electronic online payment systems primarily in Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The stock price surged 25.3% in the past four weeks. It has expected earnings growth of 53.2% for the current year. The Zacks Consensus Estimate for the current year has improved by 12.2% over the last 60 days.HEICO Corp.HEI designs, manufactures and sells aerospace, defense and electronic related products and services in the United States and internationally. The company’s stock price soared 24.3% in the past four weeks. It has expected earnings growth of 22.7% for the current year. The Zacks Consensus Estimate for the current year has improved by 3.7% over the last 60 days.Universal Display Corp.OLED engages in research, development, and commercialization of organic light emitting diode technologies and materials for use in flat panel displays and solid-state lighting applications. The stock price climbed 23.5% in the past four weeks. It has expected earnings growth of 96.8% for the current year. The Zacks Consensus Estimate for the current year has improved by 20.2% in the last 60 days.Axalta Coating Systems Ltd.AXTA manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The stock has advanced 23.2% in the past four weeks. It has expected earnings growth of 35.2% for the current year. The Zacks Consensus Estimate for the current year has improved by 10.2% in the last 60 days.You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.Click here to sign up for a free trial to the Research Wizard today.Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
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 reportHeico Corporation (HEI) : Free Stock Analysis ReportAxalta Coating Systems Ltd. (AXTA) : Free Stock Analysis ReportUniversal Display Corporation (OLED) : Free Stock Analysis ReportQIWI PLC (QIWI) : Free Stock Analysis ReportSilver Standard Resources Inc. (SSRM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
De La Rue to cut 171 jobs at Gateshead plant
(Reuters) - De La Rue said on Tuesday 171 jobs were at risk at its Gateshead plant, more than a year after the banknote and passport printer lost a 400 million pound ($509.08 million) contract to make UK passports in the traditional blue colour.
British union Unite attributed the job cuts to the lost contract, adding the losses were for skilled printing jobs working on the foreign currency contracts, with 100 passport printing jobs due to go in the autumn.
De La Rue lost the post-Brexit UK passport contract last year to Franco-Dutch group Gemalto, in a move that the government said was an expression of British independence and sovereignty after the vote to leave the European Union.
A spokeswoman for De La Rue said the company was in the final stages of a footprint restructuring programme that was announced in 2015.
"As part of that programme we are proposing to shut one of the print lines in Gateshead and are currently consulting with all parties concerned on this proposal," the spokeswoman added.
The union said there will be about 200 workers doing currency printing at Gateshead, following the passport and currency printing losses.
De La Rue, which produces passports for 40 countries, said last month that its chief executive officer would quit as it warned of a profit downturn this year.
($1 = 0.7857 pounds)
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shailesh Kuber) |
What Kind Of Shareholder Appears On The Avid Bioservices, Inc.'s (NASDAQ:CDMO) Shareholder Register?
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Every investor in Avid Bioservices, Inc. (NASDAQ:CDMO) should be aware of the most powerful shareholder groups. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. 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.
Avid Bioservices is not a large company by global standards. It has a market capitalization of US$215m, which means it wouldn't have the attention of many institutional investors. In the chart below below, we can see that institutions own shares in the company. Let's delve deeper into each type of owner, to discover more about CDMO.
See our latest analysis for Avid Bioservices
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.
Avid Bioservices already has institutions on the share registry. Indeed, they own 38% of the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. 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 Avid Bioservices's historic earnings and revenue, below, but keep in mind there's always more to the story.
It looks like hedge funds own 14% of Avid Bioservices shares. That catches my attention because hedge funds sometimes try to influence management, or bring about changes that will create near term value for shareholders. There is some analyst coverage of the stock, but it could still become more well known, with time.
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.
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
Shareholders would probably be interested to learn that insiders own shares in Avid Bioservices, Inc.. It has a market capitalization of just US$215m, and insiders have US$17m 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.
With a 40% ownership, the general public have some degree of sway over CDMO. 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.
While it is well worth considering the different groups that own a company, there are other factors that are even more important.
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 would prefer discover what analysts are predicting in terms of future growth, do not miss thisfreereport on analyst forecasts.
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. |
Did Changing Sentiment Drive Nanobiotix's (EPA:NANO) Share Price Down By 47%?
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The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long termNanobiotix S.A.(EPA:NANO) shareholders for doubting their decision to hold, with the stock down 47% over a half decade. And some of the more recent buyers are probably worried, too, with the stock falling 33% in the last year. The falls have accelerated recently, with the share price down 14% in the last three months.
Check out our latest analysis for Nanobiotix
Given that Nanobiotix didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. Shareholders of unprofitable companies usually expect strong revenue growth. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit.
In the last half decade, Nanobiotix saw its revenue increase by 12% per year. That's a pretty good rate for a long time period. Shareholders have seen the share price fall at 12% per year, for five years: a poor performance. Clearly, the expectations from back then have not been satisfied. There is always a big risk of losing money yourself when you buy shares in a company that loses money.
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.
Take a more thorough look at Nanobiotix's financial health with thisfreereport on its balance sheet.
Nanobiotix shareholders are down 33% for the year, but the market itself is up 7.1%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 12% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. Shareholders might want to examinethis detailed historical graphof past earnings, revenue and cash flow.
Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of companies we expect will grow earnings.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on FR 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. |
Driverless Delivery Gathers Speed: 5 Stocks on the Radar
As the buzz around driverless vehicles continues to snowball, various industries are leveraging the concept to upgrade their business and boost growth. In such an environment, driverless delivery — an unheralded offshoot of the vast autonomous vehicle market — is gaining momentum.The rationale behind the fast adoption of driverless delivery vehicles by businesses is mainly cost saving. With no delivery personnel, companies can save substantial amount of expenses. Moreover, the size and type of the vehicle can be chosen to suit the size of the shipment. For instance, a lightweight shipment can be delivered via drones, whereas robots or delivery cars or trucks can be chosen for larger parcels or goods.Driverless deliveries, even though not so widely heard of, have been quietly doing the rounds for almost three years now.October 2016 witnessed the first shipment delivery by a self-driven truck. Uber UBER owned Otto operated the truck, which successfully drove a 190 km distance without any disengagement or issues, delivering 50,000 cans of beer. Further, in August last year, self-driving startup — AutoX — released autonomous delivery vehicles for consumers in San Jose.Recently, companies have been rushing ahead to grab a piece of the pie. A few days ago, in an attempt to reduce delivery time, online food platform Zomato successfully tested its first food delivering drone, flying 5 km with a 5 kg load.Benefits of Driverless DeliveryInterestingly, driverless deliveries are already serving customers while we still have a few years to go before driverless cars can ferry passengers with zero disengagement (rate at which human intervention is required in an autonomous car).Running a driverless delivery vehicle involves significantly less concerns than running a driverless car with passengers in it.For one, the mass of a driverless delivery vehicle is much smaller and lighter compared to a passenger car. Therefore, if it meets an accident, chances of physical damage to a human are much less.A driverless vehicle can choose its time of delivery, take its time to slow down and process any difficult road scenarios, and even call and wait for human intervention before proceeding. These privileges are expected not to be tolerated by a passenger.Top Players of the Driverless Delivery GamePer Modor Intelligence, the autonomous delivery robot market is expected to witness a CAGR of more than 49.5% between 2019 and 2024.Moreover, Visiongain expects global autonomous trucks market to reach $4.19 billion in 2019.Such positive outlook spells good news for certain companies, which are already upping the ante in this area.
Year-To-Date Price Performance
Amazon’s AMZN much awaited drone-based delivery system, Amazon Prime Air, is expected to start service soon. The move is expected to provide this Zacks Rank #3 (Hold) stock competitive edge over the likes of Walmart WMT, which has been gradually building up its e-commerce muscle.Walmart, a Zacks Rank #2 (Buy) stock, has raised its game in recent times. The company announced that it will deploy delivery robo-vans by Ford, which will travel on fixed routes from warehouse to a smaller pickup point, transporting packages to get them closer, but not all the way, to consumers, thus acting as middle-miles. This is expected to cut delivery costs and time.Retail giant, The Kroger KR, has also been steadily carving a niche in this space. In June last year, this Zacks Rank #3 company struck a deal with Nuro — the maker of driverless road vehicle — to deliver groceries at customers’ door step using autonomous vehicles, and has been piloting the service since August 2018.On Jun 12 this year, Uber announced that it will partner Volvo to build autonomous vehicles to deliver food from restaurants. This announcement places the Zacks Rank #3 stock in a position of benefit in the driverless delivery space.Earlier this month, Domino’s Pizza DPZ announced that it is starting a driverless pizza delivery services in partnership with Nuro, in Houston, TX, making competition in this space more intense. Domino’s currently has a Zacks Rank #3. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Stay tuned as we bring to you more updates on the same!Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportWalmart Inc. (WMT) : Free Stock Analysis ReportDomino's Pizza Inc (DPZ) : Free Stock Analysis ReportThe Kroger Co. (KR) : Free Stock Analysis ReportUber Technologies Inc. (UBER) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Healthcare Tumbles on Trump's Price Disclosure Order
President Donald Trump signed an executive order yesterday, aimed at greater price disclosure of services provided by hospitals. This executive order, targeted at reforming healthcare, forms one of Trump’s main political agenda, as he goes for re-election in 2020.
What the Executive Order States
Trump’s executive order calls for hospital and health insurance companies to make information public based on their negotiated rates. Hospitals are required to disclose to patients upfront, all the costs to be charged for routine services and medical procedures. It also requires patients to be informed about out-of-pocket costs like deductibles and copays for many procedures.
The news pulled down the stocks of major health insurers UnitedHealth Group Inc. UNH, Humana Inc. HUM, Cigna Corp. CI and Anthem Inc. ANTM by 1.05%, 1.08%, 0.43% and 1.1%, respectively.
Hospital stocks such as Community Health Systems and Tenet Healthcare were down 5.17% and 2.57%, respectively.
The Health Care Select Sector SPDR Fund was down 0.52% in yesterday’s trading. Year to date, however, the fund has gained 10% compared with the S&P 500 Index’s rise of 0.3%.
What is Pinching Healthcare Providers?
The obscurity in healthcare pricing system is what is allowing hospitals and insurers to reap huge profits, while adding little value to the quality of service provided. The delivery of healthcare in the United States is provided by a closed network, with pharmaceutical companies at the nodal point, running all the way down to hospitals. In between, wholesalers, pharmacy benefit managers and insurers retain their share of profits and pass on the cost to the final consumers or patients, thus making the entire process rather expensive.
Hospitals in the United States get reimbursed for their services for many sources such as government for medicare and medcaid among others, and from private health insurers. While the reimbursement provided for government services is available to public, what is received from private insurers is confidential.
Contracts between hospitals and insurers have been in question for long. Key hospital systems use many shady terms that bind insurers to include them in every plan and prohibit the use of less-expensive healthcare options. Deal terms also go to the extent of masking prices from customers, limited audit of claims and adding extra fee among others.
Participants from the healthcare industry defended the order by saying that the contractual agreements between hospitals and insurers are proprietary and should remain under wraps.
Managed care attempts to direct and control the use of hospital services and obtain discounts from established gross charges. The health insurance industry reacted to the executive order by saying that any such law, if formed, would be of little help in bringing down costs, as hospitals which are providing discounts on their services will be forced to raise prices to match the top-tier facilities.
Will It Serve the Purpose?
Industry participants are of the view that unveiling proprietary rates charged by hospitals might lead to an opposite effect. Due to different rates charged by different hospitals, the one offering low rates will be lured to increase their rates to match its competitor, which will in turn reduce competition and increase cost for patients.
Will the Pain be Felt Soon?
The executive order to be metamorphosed into law will have to pass through the rule-making process, which might take time running from many months to even years. This means that there will be no immediate change in the industry.
Nevertheless, even a little hint of impending discomfort is enough to shoo away investors from the already heavily regulated industry.
Among the stocks mentioned above, Anthem carries a Zacks Rank #2 (Buy).
You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportCigna Corporation (CI) : Free Stock Analysis ReportHumana Inc. (HUM) : Free Stock Analysis ReportAnthem, Inc. (ANTM) : Free Stock Analysis ReportUnitedHealth Group Incorporated (UNH) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Dow Stays Positive Amid G20 Jitters
Just as last week was all about the Fed, this week will be focused on the G20 meeting in Japan when President Trump and China President Xi will be talking about trade.While the market was pretty sure that the Fed would keep its dovish tone and leave the door open for rate cuts later this year, it’s much less encouraged that something good will come out of the summit.Therefore, the major indices were sluggish to start the week. They all had somewhat positive mornings, but finished the session right around the lows of the day.The Dow still managed a positive close… but just barely. It was up 0.03% (or about 8 points) to 26,727.54.The S&P slipped 0.17% to 2945.35, while the NASDAQ was off 0.32% to 8005.70.Stocks have enjoyed three straight weeks of gains, which included the S&P reaching a new record last Thursday and the Dow coming within 1% of its own milestone.So the silver lining of today’s sluggish market is that these indices remain in striking distance of new all-time highs. With a rate cut expected to be on its way, the Trump/Xi meeting that begins on Friday could be a big factor in when those new records are made.The bar really isn’t that high for the summit. The odds are not in favor of a breakthrough that puts a swift end to the trade conflict. Investors would be content if the two guys had a nice photo op and promised to get back to the bargaining table. They would be thrilled if any additional tariffs were postponed during the talks.The market heads into the final week of June with the makings of a strong month, which is a welcomed change after May. The only problem is that we may be in store for a slow week since the G20 meeting won’t happen until Friday. So this solid month may end with a yawn.Now would be a good time for a couple of those positive trade headlines…Today's Portfolio Highlights:Counterstrike:Last week’s FOMC meeting has sparked a gold rush, but Jeremy doesn’t want to chase the precious metal. Instead, he notes that silver is once again being ignored even though it tends to move along with its flashier counterpart. The editor decided that the right move was taking a 10% allocation in ProShares Ultra Silver ETF (AGQ). The plan is to hold onto this fund for a month or two and enjoy the ride higher should the Fed continue its dovish sentiment. By the way, the editor also added 5% to the portfolio position in former market darling Xilinx (XLNX), which is challenging its 50-day moving average and seems ready for a breakout. The service now has a total allocation in this programmable devices developer of 14% to 15%. Read the complete commentary for more, including a chart on silver.Surprise Trader:The Food – Confectionary space is in the top 5% of the Zacks Industry Rank, so Dave is interested in the upcoming report for Simply Good Foods Company (SMPL). This Zacks Rank #2 (Buy) consists primarily of nutrition bars, ready-to-drink shakes, snacks and confectionery products marketed under several brand names including Atkins®. It reports before the bell on Tuesday, July 2 when analysts expect year-over-year earnings growth of 40%. The editor added SMPL with a 12.5% allocation. He also decided to sell Synopsys (SNPS) for a 10.4% return in less than a month after this computer software company recently continued its string of positive earnings surprises. Read the complete commentary for more on today’s moves.TAZR Trader:Splunk (SPLK) is an $18 billion provider of a software platform that collects and indexes data and enables big customers like Home Depot, Adobe, and Coke to harness their “big data” in real time. Kevin eyed the stock last week as a potential buy as it’s trading under 8X sales that are still growing at 25% and just busted through the $2 billion annual mark in Q1. New bullish coverage this morning keeps the average Street price target over $150 with BofA/ML and Wells Fargo at $166 recently. Kevin smells a great opportunity here to pick up an innovative and growing name in the lucrative data analytics space at a great price. Therefore, the editor added SPLK on Monday. Read the complete commentary for a detailed look at this new buy.Black Box Trader:All three of the stocks that were sold this week brought profits to the portfolio. The positions that left the service today are:• Arconic (ARNC, +9%)• Costco Wholesale (COST, +2.3%)• Dollar General (DG, +2.2%)And here are the new buys that filled these open spots:• HP Inc. (HPQ)• RH (RH)• Synchrony Financial (SYF)Read theBlack Box Trader’s Guideto learn more about this computer-driven service designed to take the emotion out of investing.All the Best,Jim Giaquinto
Recommendations from Zacks' Private Portfolios:Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy).Click here to "test drive" Zacks Ultimate for FREE >>Zacks Investment Research |
Unilever to shut ice cream facility in Nevada, cut 300 jobs
(Reuters) - Unilever said on Tuesday it would close its ice cream manufacturing facility in Henderson, Nevada, resulting in 300 people losing their jobs.
The plant manufactures ice cream and frozen novelties for brands including Ben and Jerry's, Breyers, Magnum, Popsicle, Good Humor and Klondike, said Catherine Reynolds, a Unilever spokeswoman.
"The closure of our Henderson facility is in the best long-term interest of our business," she said, adding that the facility's production will be transferred to factories in Sikeston, Missouri; Covington, Tennesse and Vermont.
Unilever, which also makes household goods ranging from Dove soaps to Knorr packet soups, said the Henderson facility's production would cease at the end of August. Employees at the plant can apply for open positions at other sites.
Unilever's shares were down 0.4 percent at 4,933.5 pence on the London Stock Exchange.
(Reporting by Siddharth Cavale and Noor Zainab Hussain in Bengaluru; Editing by Maju Samuel) |
Halliburton Stock Near 52-Week Low But Still Holds Promise
Halliburton’s HAL shares have been in the red territory for a while now, as is evident from the stock’s plunge of more than 50% over the past year, underperforming the broader industry’s 20.4% decline.
In the past three months itself, the oilfield service provider fell more than 20%. The stock, which closed at $22.51 yesterday, is quite close to its 52-week low of $20.98. While the company is currently weighed down by conservative spending by North American producers and Permian pipeline pinch, we believe that the Zacks Rank #3 (Hold) firm still holds much promise and should be retained for long-term prospects. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
What’s Going Against Halliburton?
Conservative spending by U.S. oil explorers after the crude crash toward the end of last year has dented demand for oilfield services players. With lower capital spending, the number of rigs employed in the domestic plays is reducing by the day. In fact, rigs engaged in exploration and production of oil and natural gas in the United States totaled 967 in the week ended Jun 21, per data provided by Baker Hughes, a GE company BHGE. Notably, the tally has dropped in 10 of the past 11 weeks. The tight capex budget of U.S. explorers is reducing the demand for oilfield services and creating pricing pressure, particularly in North America.
Being the largest hydraulic fracturing provider in North America with primary focus on the Permian Basin, the company is more vulnerable to the lack of takeaway capacity in the region. Moreover, there is a record backlog of drilled but uncompleted wells in the Permian Basin, signaling a slowdown in well completion activity.
Hopes of a Turnaround
Despite conservative capital spending by U.S. explorers and producers, production volumes of oil and natural gas continue to increase. EIA expects output to rise by 1.43 barrels per day (bpd) in 2019, up from 1.35 bpd projected earlier, signaling more work for oilfield services players. While North America is expected to witness lower activity levels amid explorers’ tight budget, offshore and international prospects are showing signs of improvement.
Notably, Halliburton’s international operations are picking momentum with increased work completions and higher stimulation activity. The company, which is witnessing broad-based steady recovery in the international business, anticipates international revenues to grow at a high single-digit rate in 2019, with further improvement next year. The firm expects international growth, particularly in Brazil, Mexico and the Middle East, to surpass the United States in the next few years.
In addition to international recovery, Halliburton is experiencing a rebound in the offshore business as project economics start becoming attractive. Notably, the Big Oil firms are likely to green light 110 offshore projects in 2019, up from 96, 62 and 43 in 2018, 2017 and 2016, respectively. The company's offshore business lines should benefit from these trends and new land contracts, which are usually highly profitable and have long cycles.
Importantly, in the last earnings call, Halliburton suggested that the worst is over for the domestic market, as far as pricing weakness is concerned. After losing pricing power post crude downturn in mid-2014, oilfield services players seem to be gaining lost ground primarily on the back of sector consolidation. In this regard, C&J Energy Services CJ and Keane Group Inc. recently announced a merger agreement to improve pricing power. Per Rystad Energy, big oilfield services players like Schlumberger SLB and Halliburton have already begun raising prices for products and services. This is expected to boost their earnings going forward.
Halliburton is looking to continue its disciplined approach to capital spending and improve efficiency for generating strong cash flow from operations.The company generated a combined free cash flow in excess of $1 billion in 2018.We expect Halliburton to generate higher free cash flow in 2019.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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 reportHalliburton Company (HAL) : Free Stock Analysis ReportSchlumberger Limited (SLB) : Free Stock Analysis ReportBaker Hughes, a GE company (BHGE) : Free Stock Analysis ReportC&J Energy Services, Inc. (CJ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Pamela Anderson accuses boyfriend Adil Rami of cheating
Pamela Anderson has abruptly ended her relationship with French soccer player Adil Rami, who she claims cheated on her. The model and activist, 51, shared the news in an emotional post on Instagram — and didn’t hold back on details. She called 33-year-old Rami a “monster” and said he’s been living a “double life” by also carrying on a relationship with an ex — and maybe others. The Playboy pin-up, still a dream girl to many, wrote that the last two years of her life were a “big lie” and she’s “devastated” to learn about his cheating. Pamela Anderson and Adil Rami at a fashion show in Monaco on May 24. (Photo: Arnold Jerocki/Getty Images) “He used to joke about other players who had girlfriends down the street in apartments close to their wives,” Anderson wrote. “He called those men monsters. But this is worse. He lied to all. How is it possible to control two women’s hearts and minds like this. I’m sure there were others. He is the monster.” Anderson ended her post by asking how she could have helped so many people through her philanthropy National Domestic Violence Hotline “and not be wise enough or able to help myself.” View this post on Instagram A post shared by The Pamela Anderson Foundation (@pamelaanderson) on Jun 24, 2019 at 11:45pm PDT But she wasn’t done spilling the tea. Anderson continued to post in the comments about the split. In one, she said that they had talked marriage and Rami promised to “love me for life.” (Screenshots: Pamela Anderson via Instagram) She also said she spoke to Rami’s ex, Sidonie Biémont, whom he was apparently still seeing. Biémont is the mother of Rami’s twins, who were born in 2016. (Screenshots: Pamela Anderson via Instagram) “He lied to her about all too,” Anderson wrote of Biémont. “She’s also in shock and is very sad. It’s the evidence I needed to move on. He can’t hurt us more.” (Screenshots: Pamela Anderson via Instagram) (Screenshot: Pamela Anderson via Instagram) In the posts, Anderson also said she tried to break things off with Rami before and accused him of being controlling. Despite calling things off on 10 occasions, he kept winning her back. “Every time he chased me to say he’d die without me,” she wrote. (Screenshots: Pamela Anderson via Instagram) Anderson suggested there was abuse, writing, “He has hurt me and threatened me many times.” She questioned him being a “face of protecting women from domestic violence.” Story continues (Screenshots: Pamela Anderson via Instagram) She accused Rami of cutting people out of her life that she was close to — including photographer David LaChapelle. Anderson claims she was “not allowed to see David” after an incident between the men. (Screenshots: Pamela Anderson via Instagram) Her whole inner circle — including her sons — are “disappointed” by Rami, she wrote. (Screenshots: Pamela Anderson via Instagram) “Narcissists don’t change. Sociopaths don’t change. I will run for my life. I have always fought for truth and justice,” wrote Julian Assange’s biggest supporter . “This is my worst nightmare ... I’m happy to know the truth. But it hurts like hell.” (Screenshots: Pamela Anderson via Instagram) Now that it’s over, Anderson plans to leave France. At the time of the post, she was safely in a hotel with a bodyguard (“because he scares me”), refusing to see Rami. (Screenshots: Pamela Anderson via Instagram) There is no shortage of support on Anderson’s posts, from friends like Paris Hilton and fans. One that resonated with many said, “Babe. YOU are Pamela Anderson. If he couldn’t appreciate that he doesn’t [deserve] you.” Anderson moved to France more than a year ago after falling for the World Cup winner. Hints that there was trouble came earlier this year when TMZ reported that Anderson’s friends were upset that she took him back after a split. A source said her pals feared his “juvenile behavior” and “partying and clubbing,” adding, “It's never gonna work long-term.” The blonde most famously had a relationship with Tommy Lee, with whom she shares two adult sons, Brandon and Dylan. Their turbulent marriage ended in the late ‘90s and she went on to also marry Kid Rock and Rick Salomon. Read more on Yahoo Entertainment: Louis C.K. gets standing ovation for surprise set, but social media is quick to boo him: 'A remorseless charlatan' Madonna criticized for posing in a bra with Virgin Mary statue Singer slams criticism of her natural breasts in BET Awards dress: ‘Focus on better things” Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle’s newsletter. |
Avoid Being Scammed - Use Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 25, 2019 /Compare-autoinsurance.org has released a new blog post explaining how to avoid being scammed, just by using free car insurance quotes online.
Scams are a huge problem even for the auto insurance industry. And after Hurricane Florence, the number of scams will certainly multiply. Drivers should be informed about car repair costs, insurance claim procedures and why they should work with authorized personnel only Car insurance quotes, like the ones provided byhttp://compare-autoinsurance.orgwill help drivers understand the real costs.
Auto insurancescams will make a driver unable to pay for reimbursement. Or even worse, the client can end up with a total loss of money. After making a claim, the company and their agents and adjusters will "vanish without a trace".
Pay attention to "agents" from different companies than the current insurer.Do not cooperate to people that suddenly call and claim they are insurance agents. In many cases, the victim is asked to provide multiple info, including sensitive financial info. Be vigilant and do not provide information to an unsolicited caller. Do not answer to auto-insurance questions to strangers, especially if you were not looking for coverage.
Avoid clicking on flashy pop-ups that promise really cheap coverage or high reimbursement. Pay attention to pop-up windows. The best thing to do is to call the advertised company and check if the info is real. Of course, check first if the company exists, is listed as an insurance provider, has a good standing with BBB and it is not known for scamming people.
Unethical insurance agents.Some insurance agents will try to increase the premiums of drivers in order to pocket the excess. Other insurance agents will try to get higher commissions by adding unwanted options to the driver's policy, or by trying to convince the driver to switch the current policy to a better more expensive coverage.
Online quotes can help you avoid scams. Do not work with shady websites that promise to offer high reimbursement if "You Join Now!" and ask for high upfront payments. Getting quotes directly from reputable insurance companies will totally eliminate the risk of being scammed. The client will know exactly the average costs. Additionally, drivers can use well-established brokerage websites to compare prices.
"Car insurance scams cost millions of dollars each year. Being an informed driver will help you avoid being robbed" said Russell Rabichev, Marketing Director of Internet Marketing Company.
Compare-autoinsurance.orgis an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
For more information, please visithttp://compare-autoinsurance.org.
Contact:cgurgu@internetmarketingcompany.biz
SOURCE:Internet Marketing Company
View source version on accesswire.com:https://www.accesswire.com/549789/Avoid-Being-Scammed--Use-Car-Insurance-Quotes-Online |
5 Winners From Trump's New Sanctions Against Iran
Tensions between the United States and Iran continue to escalate after President Trump signed an executive order imposing new sanctions on the latter. Such sanctions have been described as “hard hitting,” which will prevent Iran’s Supreme Leader Ayatollah Ali Khamenei, Foreign Minister Javad Zarif and many other military officials from accessing U.S. financial instruments.
The sanctions followed the United States’ blame that the Islamic Republic attacked two oil tankers near the Strait of Hormuz and shot down a U.S. drone. Iran’s Revolutionary Guard alleged that the drone had entered Iranian airspace, even though U.S. military is adamant that it was in international airspace. Moreover, Iran’s Revolutionary Guard’s claim came after U.S. military informed of a missile attack on a Saudi desalination plant and stated that it is likely to have come from Yemen.
It goes without saying that while the Saudis and the United States are on one side, the Houthi Yemenis and Iran make up the other one. Tensions between the Saudis and Iran can primarily be attributed to the U.S. sanctions aimed at reducing Iranian oil exports to zero.
Nonetheless, Trump recently said in the Oval Office that these sanctions “represent a strong and proportionate response to Iran's increasingly provocative actions.” He added that “we will continue to increase pressure on Tehran until the regime abandons its dangerous activities and its aspirations including the pursuit of nuclear weapons, increased enrichment of uranium, development of ballistic missiles, engagement in and support for terrorism, fueling of foreign conflicts, and belligerent acts directed against the United States and its allies.”
Senior Iranian officials claimed that the country’s leadership sees “war and sanctions as two sides of the same coin” and emphasized that the Islamic State can never be forced into negotiation.
How to Play U.S. Sanctions on Iran?
Thanks to Trump’s announcement about “hard hitting” Iranian sanctions, the broader stock market has entered negative territory. But, not all asset classes are bleeding. Prices of both gold and bitcoin are climbing north as the United States hit Iran with fresh sanctions. And that’s primarily because these two asset classes are perceived as safe-haven assets and are unperturbed by market gyrations.
But, it’s just not rising geopolitical risks in the Middle East that’s driving gold and bitcoin. Gold, in particular, is gaining due to declining yields, weak macroeconomic outlook and a weaker dollar. This has led investment banking giant UBS to raise its short-term forecast for gold to $1,430 on Jun 24, from an earlier forecast of $1,380.
And when it comes to bitcoin, the world’s numero uno cryptocurrency is gaining as several Wall Street bigwigs are showing keen interest in cryptocurrencies and blockchain technology. For instance, Facebook’s Libra cryptocurrency has provided a boost to bitcoin. After all, Facebook’s foray into the crypto space has given a certain degree of legitimacy to the industry, which many viewed as illegal and speculative trading. Last but not the least, bitcoin has piqued the interest of many. Needless to say, bitcoin futures trading activity has been increasing over the past several weeks as shown by its moving average, per the CME Group.
New Iran sanctions, in the meantime, restricted the drop in oil prices amid concerns about crude demand. With oil prices finding support from US-Iran tensions, energy shares are in a good position to rally. Lest we forget, energy shares have been one of the weakest performers so far this year, but now this growing turmoil in the Middle East will lure investors back into the energy space.
Top 5 Gainers
We have, thus, selected five solid stocks from the aforesaid areas that can make the most of the US-Iran tensions. These stocks carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
AngloGold Ashanti LimitedAU operates as a gold mining company. The company has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 2% over the past 60 days. The company’s expected earnings growth rate for the current year is 90.6% compared with the Mining - Gold industry’s estimated rally of 16.4%.
Square, Inc.SQ, which provides payment and point-of-sale solutions, is another impressive bitcoin-related stock. The mobile payment company is now allowing users to buy and sell cryptocurrency through its Square app. Square flaunts a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved 2.7% north over the past 60 days. The company’s expected earnings growth for the current year is 61.7%, higher than the Internet - Software industry’s projected growth of 12.7%.
Approach Resources, Inc. AREX focuses on the acquisition, exploration, development, and production of unconventional oil. The company carries a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved up 32% over the past 60 days. The company’s expected earnings growth rate for the current year is 23.1% against the Oil and Gas - Exploration and Production - United States industry’s anticipated decline of 7.2%.You can seethe complete list of today’s Zacks #1 Rank stocks here.
Holly Energy Partners, L.P. HEP owns and operates petroleum product and crude pipelines. The company has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has climbed 3.9% over the past 60 days. The company’s expected earnings growth rate for the current year is 8.8% compared with the Oil and Gas - Production and Pipelines industry’s estimated rally of 3.3%.
Franco-Nevada CorporationFNV operates as a gold-focused royalty and stream company in the United States. The company has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has risen 5.6% over the past 60 days. The company, which is part of the Mining – Gold industry, is expected to yield an earnings return of almost 12% this year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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 reportSquare, Inc. (SQ) : Free Stock Analysis ReportFranco-Nevada Corporation (FNV) : Free Stock Analysis ReportAngloGold Ashanti Limited (AU) : Free Stock Analysis ReportHolly Energy Partners, L.P. (HEP) : Free Stock Analysis ReportApproach Resources Inc. (AREX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
AbbVie’s $63 Billion Mistake
AbbVie(NYSE: ABBV)announced this morningits intention to acquire Irish drugmakerAllergan(NYSE: AGN)in a stock-and-cash deal for $63 billion (or $188.24 per share). More specifically, AbbVie is offering Allergan shareholders $120.30 in cash and 0.866 AbbVie shares per share of Allergan they currently own.
AbbVie absolutelyshouldpursue an acquisition -- more on that in a minute -- but buying Allergan (especially at a45% premiumto yesterday's closing share price) is a terrible move.
Here's why.
In a word: Humira. The world's best-selling drug in 2018, autoimmune drug Humira is now set to become a serious albatross for AbbVie, as patent expirations and biosimilar competition outside the U.S. chip away at its revenue. For reference, last quarter, Humira's international revenue dropped by 28% year over year, even while domestic revenueincreasedby 7%. U.S. revenue should be safe until around 2023, but AbbVie is staring down a scary patent cliff given that Humira accounted for 57% of the company's total adjusted revenue last quarter.
It's never fun to watch your top-line decline. Image source: Getty Images.
Put differently, AbbVie is now in danger of becoming a victim of its flagship drug's previous success.
AbbVie has been working hard to plug that hole with a variety of autoimmune drugs, hoping to shore up its market position as Humira's inevitable decline comes into more focus. AbbVie's autoimmune drug Skyrizi recently received FDA approval for psoriasis and is in phase 3 testing for a variety of other indications, including Crohn's disease, ulcerative colitis, and psoriatic arthritis. Rheumatoid arthritis drug upadacitinib is next up on deck, with an FDA review anticipated by third quarter. Analysts think these drugs might ultimately generate a combined $9.5 billion in annual peak sales -- a hefty chunk, to be sure, but far less than the $19.9 billion Humira achieved just last year.
To summarize: AbbVie doesn't have impressive growth prospects without an acquisition. It needs one to reinvigorate growth.
AbbVie needs to acquire a growing company with a huge pipeline stocked full of opportunity. Allergan is not that company.
In the most recent quarter, Allergan reported a 2% decline in revenue and a measly 1.3% growth in non-GAAP income per net share. Botox, Allergan's flagship drug, is slowly growing but faces an increasingly competitive landscape.
That wouldn't necessarily be a deal breaker if Allergan had massive opportunities in its pipeline. But it really doesn't.
That's not to say it doesn't havesomeopportunities -- it does -- but most don't look to be that big. For example, analysts think that Bimatoprost SR -- a proposed glaucoma drug Allergan hopes to see approved in 2020 -- might hit around $600 million in peak annual sales by 2026. For a company that did $15.8 billion in revenue last year, that's just not going to be fundamentally needle moving.
Allergan's largest potential drug is abicipar in wet age-related macular degeneration (or AMD), which could generate as much as $3 billion in peak annual sales per the company. Unfortunately, the drug has been shown to have some safety issues that may prevent it from competing effectively against other proposed treatments for wet AMD (like Eylea and brolucizumab from Regeneron and Novartis, respectively). More specifically, 8.9% of abicipar patients had intraocular inflammation, a rate double or more that reported for competitor drugs.
Plus, the March failure of its late-stage depression drug rapastinel in clinical trials deals further blows to its investment thesis.
AbbVie is proposing to acquire Allergan for $63 billion, just north of a four-times multiple on its 2018 revenue. That valuation isn't unheard of in biotech, but usually that's because a company has huge growth opportunities it would struggle to fully execute on its own.
Allergan just isn't that company. (And for what it's worth, given that Allergan anticipates non-GAAP net income per share of $3.50 this year at the midpoint, AbbVie's $188.24-per-share proposed buyout price looks ridiculous along a price/earnings metric as well.) There's also no hint of a tax inversion like Pfizer attempted back in 2016, whereby the acquiring company would lower its tax rate by redomiciling in Ireland. And frankly, the $2 billion in anticipated combined synergies just isn't enough to make this attractive.
For what it's worth, I think Allergan shareholders should be thrilled. Even though the proposed buyout price is far below the $160 billion Pfizer was offering in 2016, given the less-than-stellar business performance at Allergan, I personally believe it's a good deal for them.
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3 Stocks With a Perfect Smart Score
The S&P 500 recently closed out an all-time high of 2,954, while the Dow is also within touching distance of record territory. That’s excellent news for existing shareholders, but it does make finding new investing ideas a challenge.
However, a deep analysis of stocks – covering everything from analyst activity to headline sentiment and even momentum – can turn up a few stock picks that are still primed to outperform. TheSmart Scorepulls together eight data sets – including the factors mentioned above – to create a rating that unites eight different equity insights.
Here are three “Perfect 10” stocks to buy now, according to the Smart Score system. All three stocks boast the highest possible score of “10,” indicating that these stocks represent compelling investing opportunities right now. Let’s see why these stocks earn such high scores…
Iovance Biotherapeutics is a clinical-stage biotech focused on developing immunotherapies to treat cancer. Specifically, the company is working on personalized tumor infiltrating lymphocytes known as TILs.
What’s exciting is that Iovance's proprietary TILs are the first cell therapy to show significant efficacy in solid tumors. Right now the company is conducting phase II clinical trials assessing the efficacy and safety of TILs for patients with metastatic melanoma, head and neck cancer, as well as cervical cancer.
Shares have more than doubled year-to-date, and as we can see below the stock scores a ‘perfect’ Smart Score of 10. Most notably, 9 analysts have published buy ratings on the stock in the last three months. So no hold or sell ratings here. Analysts reiterated their bullish calls after IOVA presented two posters at the annual meeting of the American Society of Clinical Oncology (ASCO), showing encouraging efficacy of TILs in melanoma and cervival cancer.
“Iovance’s TIL products, LN-144 and LN-145, are continuing to deliver significant clinical promise in these two indications, and we believe investors are starting to recognize and reward it” wrote Chardan Capital’sGeulah Livshitsfollowing the event. Her buy rating comes with a $30 price target (41% upside potential).
But that’s not the only datapoint in IOVA’s favor. The stock also boasts bullish blogger opinions, increased hedge fund activity and a very positive sentiment from investors. Five-star blogger Bhavneesh Sharma rates IOVA a buy. He explains that Iovance is being rumored as an attractive takeover candidate after breakthrough results of its TILs technology in advanced refractory cervical cancer.
Streaming giant Netflix looks like a compelling investing proposition right now, according to its Smart Score. Indeed, top-rated Goldman Sachs analystHeath Terryhas placed Netflix on the firm’s elite Conviction List of top stock ideas. He wasn’t deterred by the company’s light second-quarter guidance, writing:
“As Netflix’s content investments, distribution partnerships and marketing spend drive subscriber growth significantly above consensus expectations and the company approaches an inflection point in cash profitability, we believe shares of NFLX will continue to significantly outperform,” he said.
“We remain Buy rated and raise our 12-month price target to $460 from $450 to reflect faster subscriber growth expectations, particularly in international markets.” From current levels that indicates upside potential of 24%.
Terry is one of 24 analysts who have recently published NFLX buy ratings. That’s versus just 3 hold ratings and 1 sell rating. Encouragingly, Piper Jaffray’sMichael Olsonhas also just carried out a deep dive into Netflix’s second quarter. He revealed that his study of search trends suggests year-over-year 11.7% growth in US subscribers and 45.8% international growth. That easily beats Netflix’s guidance of 8.2%. for US subscribers, and international growth of 36.5%.
Meanwhile, the company also enjoys Very Bullish news sentiment, blogger opinions, increased hedge fund activity and positive return on equity. News sentiment is buzzing as Netflix has just revealed that its new comedy caper “Murder Mystery” enjoyed the biggest opening weekend ever for a Netflix Film. According to the firm’s tweet, “30,869,863 accounts watched ‘Murder Mystery’ in its first 3 days.”
Based in Oklahoma, Paycom is an online payroll and human resource technology provider. It is attributed with being one of the first fully online payroll providers and has offices throughout the US. Shares have exploded 84% year-to-date, thanks to strong earnings results and a guidance raise. The company reported revenue growth of 30% and adjusted EBITDA of $103 million.
According to five-star KeyBanc analystBrent Bracelinfurther growth lies ahead. He has just boosted his price target from $215 to $246. “Further analysis of the HR competitive landscape suggests the growth and improving margin profile at HR SaaS leader PAYC appears sustainable, particularly given roughly 70% of HR applications are still tied to on-premise deployments implying a long and stable growth runway” comments Bracelin. He raises estimates citing increased confidence in the company maintaining industry leading growth rate while improving margins.
In addition, investors show Very Positive sentiment on PAYC, as do hedge funds and bloggers. Hedge fund gurus with promininent positions in the stock include both Ken Fisher and Joel Greenblatt of Gotham Asset Management.
Discover more Top Smart Score stocks here |
Airline Stock Roundup: LUV's Bullish Q2 RASM View, AAL, JBLU & DAL in Focus
In the past week, Southwest Airlines LUV issued a bullish update with respect to revenues for the second quarter of 2019. Strong demand for air travel and anticipation of impressive passenger yields led to an upbeat view.
Also, updates from the Paris Air Show dominated the headlines, with American Airlines AAL and JetBlue Airways JBLU looking to add A321XLRs to their respective fleet. Notably, Airbus launched A321XLR — jets with the longest range among the European company’s single-aisle offerings — at the event on Jun 17.
Airline behemoth, Delta Air Lines DAL, also featured in the news by virtue of its initiative to strengthen foothold in Asia. In order to fulfill its objective, Delta bought a 4.3% stake in Hanjin Kal Corp. — the largest shareholder of Korean Air Lines. Like Delta, United Airlines — the wholly-owned subsidiary of United Continental Holdings UAL — is also looking to fortify its presence in the lucrative Asian market. To this end, the Chicago-based carrier inked a codeshare agreement with Vistara — a New Delhi, India-based airline.
(Read the last Airline Stock Roundup here)
Recap of Past Week’s Most Important Stories
1. Southwest Airlines’ second-quarter 2019 results are scheduled to be out on Jul 25. For the quarter, its operating revenue per available seat mile (RASM) is anticipated to increase 6.5-7.5% year over year compared with 5.5-7.5% expected earlier. However, operating costs per available seat mile (CASM), excluding fuel and oil expense and profit-sharing expense, are now projected to rise 11.5-12.5% year over year. The previous view for the metric was in the range of 10.5-12.5% growth. This escalation in costs can be attributed to reduced capacity during the second quarter as a result of the Boeing 737 MAX groundings. (Read more: Southwest Q2 RASM View Up, Cost View Bleak on MAX Groundings)
Southwest Airlines carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
2. American Airlines agreed to purchase 50 Airbus A321XLR jets and became the first major U.S. carrier to buy the European planes since their launch. Following the agreement, American Airlines intends to replace aging planes in its fleet like Boeing 757s with the A321XLR jets. Per the terms of the deal, this Fort Worth, TX-based carrier will order 20 A321XLRs that have an incredible 4700 nautical mile range. The deal also allows the U.S. carrier to convert 30 of its existing orders for the smaller Airbus A321neo to Airbus’ new offering. (Read more: American Airlines Inks Deal to Buy 50 Jets From Airbus)
3. JetBlue has decided to convert 13 of its existing orders for the smaller Airbus A321neo to A321XLR jets as it aims to enter and subsequently expand in the trans-Atlantic market. In a bid to modernize its fleet further, JetBlue, which aims to deliver earnings of $2.50-$3 by 2020, has also converted options for 10 Airbus A220-300s (deliveries anticipated to commence in 2025) to firm orders. Currently, this low-cost carrier’s decision to order additional A220s is in line with its objective to expand in the Americas. (Read more: JetBlue Eyes New Long-Range Airbus Jets at Paris Air Show)
4. Delta plans to increase its stake to 10% in Hanjin Kal, subject to regulatory approvals. In fact, Delta’s interest in Hanjin Kal is a blessing for this Korean company’s leadership. Ever since the demise of Cho Yang-ho, the chairman of the Hanjin Group, in April, this family-run company has been engulfed in management-related controversies. Cho Won-tae was subsequently appointed as the group’s chairman — a move that has been questioned by the activist fund Korea Corporate Governance Improvement (KCGI). At present, KCGI’s disappointment pertaining to the group’s corporate governance is giving rise to fears about an ownership battle at the conglomerate. In fact, Delta’s decision to invest in Hanjin Kal and subsequently increase its stake has thwarted KCGI’s desires to take control of the group. (Read more: Delta Expands in Asia Via Investment in Korean Air's Parent)
5. United Airlines’ deal with Vistara is set to be effective this fall. Once operational, the deal will expand the carrier’s international network to cover more than 20 destinations across India. Per the agreement, connecting flight options will be available for United Airlines’ passengers traveling from the United States. Further, United MileagePlus members will be able to earn and redeem frequent flyer miles on all Vistara routes. Passengers will also enjoy a coordinated customer service between United Airlines and Vistara. Moreover, travelers will have the privilege of single-ticket booking and checked baggage to their final destination. (Read more: United Airlines Inks Codeshare Deal With India's Vistara)
Price Performance
The following table shows the price movement of the major airline players over the past week and during the past six months.
The table above shows that the majority of the airline stocks traded in the red over the past week. Consequently, the NYSE ARCA Airline Index declined approximately 2% over the same time period. In the past six months, the sector tracker increased 12.1% driven by impressive gains at the likes of GOL Linhas GOL and Copa Holdings CPA.
What's Next in the Airline Space?
Stay tuned for usual news updates in the space. The focus will also be on the movement of oil prices going forward as expenses on fuel are considered a major component of operating expenses for carriers.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportJetBlue Airways Corporation (JBLU) : Free Stock Analysis ReportCopa Holdings, S.A. (CPA) : Free Stock Analysis ReportAmerican Airlines Group Inc. (AAL) : Free Stock Analysis ReportGol Linhas Aereas Inteligentes S.A. (GOL) : Free Stock Analysis ReportSouthwest Airlines Co. (LUV) : Free Stock Analysis ReportDelta Air Lines, Inc. (DAL) : Free Stock Analysis ReportUnited Continental Holdings, Inc. (UAL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Allergan’s New CoolTone Body Sculpting Device Gets FDA’s OK
The nonsurgical body contouring arena just got a cool new contender. Allergan’sCoolTone, the muscle-building cousin ofCoolSculpting, the famous fat freezer, just received FDA clearance for strengthening and toning the abdomen, buttocks and thighs.
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Unlike CoolSculpting, CoolTone does not freeze fat. It uses a 1.8 Tesla magnet to stimulate involuntary muscle contraction, which results in a tighter and more toned appearance. An Allergan press release said CoolTone has “50 percent more magnetic intensity than the leading competitor,” but also state that claim has not been clinically established.
CoolTone joins a handful of other noninvasive or minimally invasive technologies—like CoolSculpting (cryolipolosis),Emsculpt(high intensity focused electromagnetic energy),SculpSure(radio frequency) and BodyTite (radio frequency)—that allow patients to target stubborn areas with little to no downtime. Now that it’s FDA clearance makes it a major player in the game, we are excited to see firsthand what this new technology can do. |
Coca-Cola & China Firm to Sponsor Olympics: Trade War at Bay?
In a dramatic turn of events, the International Olympic Committee (“IOC”) recently announced thatThe Coca-Cola CompanyKO has inked a joint venture with China Mengniu Dairy Company Ltd to sponsor the Olympics till 2032. The blockbuster promotional campaign between a U.S. beverage behemoth and a Chinese firm appears to bring the corporate objective at the forefront and put the trade war issues on the backburner.Fine Prints of the DealThe joint advertising deal will cover sponsorship for four Summer Olympics, two Winter Olympics, the Paralympic Games and the Youth Olympics. Combining the non-alcoholic beverage and the dairy categories into a new joint category, the partnership involves significant investments in traditional and digital media to promote the spirit of the Olympics globally. Also, it represents a solemn pledge by both the companies to uphold the ideals and values of the Olympic Movement, and help create memorable experience for spectators and fans through financial and moral support for the IOC, participating nations and athletes. Although the company spokespersons and IOC representatives declined to comment on the deal value, various unconfirmed reports have pegged the transaction at about $3 billion.The TOP ProgramWith the deal, Mengniu has become the first Chinese fast-moving consumer goods company to become a member of The Olympic Partners (TOP) program – the highest level of Olympic sponsorship that grants category-exclusive marketing rights to a select group of global partners. Since its inception in 1985, the TOP program has attracted some of the best-known blue-chip multinational firms across the globe, which have actively offered funds to provide the foundation for staging of the Olympic Games.Other corporate sponsors of this mega sporting extravaganza at present include Intel Corporation INTC, Visa Inc. V, Samsung Electronics, Toyota Motor Corporation TM, Panasonic Corporation and Alibaba Group Holding Limited BABA. Notably Coca-Cola has been associated with the Olympic Games since 1928, and the joint venture agreement with Mengniu extends this association to a historic 104-year-long relationship.The PayoffsMengniu aims to leverage the entry into the elite list of TOP program to expand its international business and improve its brand image that got tarnished by a 2008 scandal over contaminated baby formula. With 40 plants across China, New Zealand and Indonesia, this firm is capable of producing more than 9 million tons dairy goods a year. The advertising deal with Coca-Cola will enable the company to gain a solid footprint in international markets with more exposure as it aims to become one of the world’s top dairy producers by 2025.The inclusion of Mengniu as a sponsor for Olympic Games also corroborates the ‘Look East’ policy of IOC and represents a marked shift in its sponsorship program that was once dominated by Western companies. Moreover, the strategic choice of a Chinese firm for a unique tie-up with a U.S. company for the sponsorship seems to portray a well-devised plan to go beyond the bilateral trade spat for large-scale promotional activities that hinge on the unifying power of the Olympic spirit.IOC President Thomas Bach perfectly summed up, “This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty. Having our longest-standing partner, Coca-Cola, an iconic American brand, together with a young Chinese company, Mengniu, joining hands under the roof of our Worldwide TOP Programme is a great example of the unifying power of the Olympic spirit. This partnership will give another dimension to the promotion of the Olympic values around the world.”Will the respective governments display the same bonhomie in resolving the prolonged trade war? Let us wait and see what the future holds.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportAlibaba Group Holding Limited (BABA) : Free Stock Analysis ReportToyota Motor Corporation (TM) : Free Stock Analysis ReportCoca-Cola Company (The) (KO) : Free Stock Analysis ReportIntel Corporation (INTC) : Free Stock Analysis ReportVisa Inc. (V) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
India warns foreign e-commerce firms like Amazon, Flipkart over discounts: sources
By Aditya Kalra, Devjyot Ghoshal and Aditi Shah
NEW DELHI (Reuters) - India has told foreign e-commerce firms such as Amazon and Walmart's Flipkart that they must ensure compliance with new foreign investment rules aimed at deterring them from providing steep online discounts, three sources familiar with the discussions told Reuters.
Commerce Minister Piyush Goyal has said that while the government was prepared to listen to concerns about its new foreign direct investment rules (FDI), it was committed to protecting small traders from predatory behavior by foreign-funded companies, the sources said.
The comments were made by Goyal during a closed-door meeting on Monday with several e-commerce companies. It comes in a week when U.S. Secretary of State, Mike Pompeo, is due to visit New Delhi - he is expected to arrive late on Tuesday - and trade tensions have heightened between the two countries.
India from Feb. 1 imposed new e-commerce FDI rules to help hundreds of thousands of small traders, but small businesses and a right-wing group close to Prime Minister Narendra Modi's ruling party say there are still issues. They allege big online retailers use complex business structures to circumvent federal rules, and still burn billions of dollars to offer discounts.
Amazon and Flipkart say they've complied with the rules and deny any wrongdoing. Both companies, and the U.S. government, protested against the rules in January, saying they would force firms to change their business structures, Reuters has reported.
Goyal during the Monday meeting defended the government's new FDI policy, saying the rules should in no way be violated by any company, both in letter and in spirit. The government will not allow e-commerce firms' discounting practices to affect small shopkeepers, Goyal said, according to three industry executives in attendance.
"The minister was clear and direct," said one of the executives.
Flipkart CEO Kalyan Krishnamurthy in a statement said the company looked forward to working with the government and Goyal had engaged "in a candid, positive & progressive" discussion.
Amazon said it welcomed the "open & candid discussions & the promise of continuing engagement" with the government, adding it was committed to supporting various Indian government initiatives.
In a statement on Tuesday, the commerce ministry said it had formed a committee to hear grievances on issues related to FDI in e-commerce, adding it will ensure small retailers thrive in the country. It did not detail discussions around the question of steep online discounts.
E-COMMERCE, TRADE CONCERNS
The government brought in the new policy in February after complaints from small Indian traders who said the e-commerce giants used their control over inventory from affiliated vendors to create an unfair marketplace in which they offered major discounts. Such practices are now prohibited.
The rules led to a brief disruption of Amazon's online operations in February and shocked Walmart, which had just months before invested $16 billion in acquiring control of India's Flipkart in its biggest ever deal.
The United States government and American firms have voiced concerns about several recent Indian policies. Other than stricter e-commerce rules, India has demanded companies to store more of their data locally. In 2017, the United States lodged a written protest against India's decision to cap medical device prices.
Goyal has had a series of meetings since last week with foreign and Indian e-commerce firms and technology companies with an aim to iron out policy issues. He has also discussed what government press releases describe as "threats" local firms face from "large foreign competition".
On Monday, concerns around online discounts available on Amazon and Flipkart were discussed specifically during the meeting, with both companies asked by government officials about how they price products online, the sources said.
Amazon and Flipkart argued they provide logistics support and other services to small Indian retailers who use their e-commerce platforms to boost their businesses, said the third source who attended the meeting.
"Goyal said he doesn't want uncertainty for businesses ... he talked about having an inclusive policy that protects interests of all stakeholders," said one of the sources.
(Additional reporting by Nivedita Bhattacharjee; Editing by Martin Howell and Louise Heavens) |
Top Cannabis Stocks Under Fire: What’s The Stock Market’s Message?
As the cannabis sector matures and continues to open up with the edibles launch on the way this year, we just got through another round of earnings. This past quarters earnings were nothing pretty for most companies and we saw a lot of the large-cap companies fall short of analyst estimates — namely Aurora Cannabis (ACB), Canopy Growth (CGC), and Canntrust (CTST). Losses mounted for many cannabis companies focused on expansion, technology, and future market share. Canopy Growth lost over 300 million CA dollars in their last quarter due to higher employee compensation and a paper charge regarding the company’s convertible debt. These losses highlight some of the growing pains that these new companies have to go through in such a fast-changing industry. Prior to earnings season this quarter we saw a massive bull run for the majority of the large-cap cannabis stocks up until about the end of March.
What Changed in March?
In March we saw most of the large-cap cannabis stock prices peak relative to the broader indexes, using the S&P 500 as an example. In this chart below we compare Aurora Cannabis, Canopy Growth Corporation, Canntrust and HMMJ Horizons Marijuana Life Sciences ETF. Using this ETF is a great way to gauge the large-cap index as a whole. We can see that the cannabis sector peaked in March, hitting its highest point around March 19th.
What I think happened in March was that investors started to take a look at their portfolios. They were noticing that the cannabis sector had outperformed the S&P 500 by over 3x at that point (HMMJ sitting up 60+% meanwhile the S&P had gained roughly 20%). Investors started to shift their money into more defensive names, as they felt that a pullback was imminent after such a strong rally in the markets. This turned out to be true as the cannabis sector declined from March and only accelerated after companies released one disappointing quarter after another. That massive three-month bull run was enticing enough for investors to start selling their cannabis stocks before earnings and if you did so, you were very fortunate. As a long term investor, you need to be able to have a strong stomach for volatility within the cannabis sector, but it still never fails to amuse me how the business cycle works, along with understanding investor psychology.
What Happens Next?
Now that the post-legalization hype has subsided and the markets have already had the opportunity to rally, we are seeing many of our most popular cannabis stocks trading at much lower valuations than just a few short months ago. Just because the stocks are cheap, does not mean that they will magically rise once again without a reason. Personally, I think there are a few things that need to happen for a company to buck the trend, and it starts with proving what they said they were going to do. Many companies made huge promises pre-legalization which drove valuations to historic highs, only to see the stocks crash due to overhype and deteriorating market conditions. Now we need to see strong execution within their business model coupled with a focus on market share and international expansion. As investors, we are always looking years down the road, and the companies that are set up to capitalize on markets outside of Canada will be the most profitable and sustainable companies. For the near term, I want to see companies focusing on the CBD market in the U.S. along with pending federal legalization. Along with this very profitable potential opportunity, I feel that the companies who focus on higher margin products and can dominate the retail and branding aspect of the business will see short-term profitability. For me, it comes down to a two-pronged approach and the company that can perfect this combination will be the most successful in terms of profit along with share price appreciation.
To read more on the nitty gritty of what’s going on in the rising cannabis industry,click here.
Disclosure:The author is Long ACB, CTST
Read more on the stocks mentioned:
• Aurora Cannabis (ACB) Investors Seem to Be Missing the Latin American Opportunity
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Iran will 'look for asymmetric ways' to lash back at US: Ex-US ambassador
U.S. tensions are escalating with Iran, as President Donald Trump imposes fresh sanctions against the country's supreme leader, Ayatollah Ali Khamenei. And a former U.S. ambassador explains what could happen next for Iran’s economy, as Washington increases pressure on Tehran.
“Sanctions definitely will continue to be a serious challenge for Iran. And therefore I do think Iran will continue to look for asymmetric ways, as we’ve seen in the last couple of weeks, to lash back at the U.S.,” Richard Schmierer, a former U.S. ambassador to Oman and chairman of the Middle East Policy Council’s board, tells “The Ticker.”
The White House’s latest step comes after Trump canceled plannedairstrikesagainst the country and Iran’s revolutionary guard shot down an American military drone last week. But Schmierer notes Iran’s economy is already reeling from the Trump administration’s previous sanctions, including themoveto clamp down on other countries buying Iranian oil.
“It’s not surprising that the next step would be additional sanctions. I do think, however, that ultimately he and our country want to get to the point where we can have negotiations and let diplomacy move this issue forward,” Schmierer said.
McKenzie Stratigopoulos is a producer at Yahoo Finance. Follow her on Twitter:@McKenzieBeehler
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‘Judgment’ is a sublime detective game for everyone
Grizzly murders. A ridiculously smart hero haunted by his past. A shady group of individuals who will do anything, it seems, to cover up their terrible deeds. These are the hallmarks of a great detective story, andJudgment, the latest video game from Japanese developer Ryu ga Gotoku (RGG) Studio, has all of them.
Take the central hero, Takayuki Yagami. He used to be a lawyer with slick-back hair and a well-fitted suit. As an employee of the fictional Genda Law Firm, he successfully defended a man accused of murdering a hospital patient. Japan is famous forits 99.9 percent conviction rate, so Yagami's work both in and outside the courtroom was considered miraculous. But then disaster struck.
Players take control of Yagami roughly three years after the case. He's no longer a lawyer and works instead as a private investigator with his ex-Yakuza best friend, Kaito Masaharu. The private investigator, nicknamed Tak, works in white sneakers, skinny jeans and a leather jacket that wouldn't look out of place in a pop music video. He's perpetually broke and sleeps in his office, a poky room with a recorder player, pinball machine and sink full of dirty dishes. "Now my lawyer's badge is... just for decoration," he explains wistfully during the game's prologue.
Tak is a flawed but lovable hero. The kind that could star in a best-selling series of Scandinavian crime novels, or a HBO-made miniseries. He smokes, makes quips and will take almost any job that doesn't betray his deep-rooted sense of justice. He's a modern Sherlock Holmes voiced by Takuya Kimura, a well-known actor, singer and radio presenter in Japan.
And then there are the murders. Seemingly random Yakuza mobsters have started turning up with their eyes gouged out. It's a gruesome and, more importantly, intriguing calling card that Tak is forced to investigate. He calls his nemesis "the mole," an apparent assassin that claws at its enemies and then burrows back into the darkness.
He calls his nemesis 'the mole,' an apparent assassin that claws at its enemies and then burrows back into the darkness.
RGG Studio'slong-running Yakuza game franchisehas dabbled with mysteries and conspiracies. In those games, though, series protagonist Kiryu Kazama -- a martial arts expert with a heart of gold -- solves most problems with his fists. Judgment, admittedly, has plenty of bare-knuckle brawling, too. A surprising amount, actually, considering the game is a distinct spin-off with its own name and exuberant cast of characters.
The game balances these moments, though, with a fair amount of non-violent detective work. Tak will often tail suspects, for instance, to find a particular place or contact. You have to keep your distance and duck behind cover to ensure your target doesn't realize what's happening. Losing the target will also trigger a tense countdown timer that can only be dismissed by re-establishing line of sight. On the flip-side, suspects will occasionally flee and force Tak to give chase. These play out like an endless runner -- the detective sprints automatically and it's on you to avoid pedestrians and street clutter with perfectly timed Quick Time Events.
Piecing the mystery together requires some observational skills, too. The game will regularly shift into a first-person perspective and ask you to carefully inspect the environment. Find all the relevant clues -- a broken surveillance camera, for instance, or a phone that explains who the victim last called -- and the story will barrel forward once more.
You can, for the most part, turn your brain off and 'cheat' by methodically clicking on every part of the scene. At times, though, the game will pause and test your knowledge of both the story and Tak's current theories. During interviews, it will sometimes offer multiple questions or routes of inquiry and ask you to pick the ones that will extract the most information. Choose the best ones and you'll be rewarded with SP, a currency required to upgrade some of Tak's combat and detective skills. At decisive moments, the game will also challenge you to select the photograph or autopsy report that proves a particular hypothesis or how someone is connected to the case, in a similar fashion toL.A. Noire,Phoenix Wrightand other detective titles.
You can bungle your way through -- Tak will merely apologize and explain that he meant to say or present something else. But it's obviously embarrassing and subtly encourages you to think through these decisions.
Toshihiro Nagoshi, a writer and director onJudgment, said it was tricky to know how expansive or difficult the detective work should be. "Because we wanted to make this a playable game for casual game players as well," he explained through an interpreter. "And wanted to [avoid] a situation where if things got too complex and too difficult to solve, that people would just stop playing and not be interested. So, that was kind of a challenge for the development team."
Unlike his former colleagues, Tak is happy to bend and break the law. He can pick locks, which are conveyed through mini games, and frequently uses disguises to sneak past Yakuza and meet whoever he needs to question. At one point in the game, Tak breaks a heater on the outside of a building owned by the cut-throat Kyorei clan. He then waits for the Yakuza to call a repair person, changes into a boiler suit and enters the premises while Kaito keeps the real technician busy on the street outside.
According to Nagoshi, some of these sequences have multiple solutions. "There's a certain building you have to get into, but all the doors and windows are closed," he explained. "So you have to get a ladder to climb all the way in and then you'll encounter a battle there. So you have to fight some people and finally get to your objective. But then, actually, if you had just gone through the building next door, there was a hallway that connected into that same building."
It even has a title sequence that looks and sounds like a blend of Naruto andTrue Detective.
The central mystery and how it unravels is brilliant. The game has 13 chapters that feel like chunky episodes or miniature story arcs of a blockbuster TV show. It even has a title sequence that looks and sounds like a blend ofNarutoandTrue Detective(the theme song by Japanese rock band Alexandros is a banger, too.) Don't worry, I won't spoil the ending. I will say, though, that the tale has plenty of twists that are surprising, logical and satisfying. I never once felt that a reveal was cheap or introduced purely to shock.
The story was tricky to write. UnlikeYakuza 0,Judgmentis set in the present day, and the characters have access to modern technology, including smartphones and the internet. "Because it's such a convenient time right now, it's very inconvenient to craft a mystery story," Nagoshi said. "Because it's so easy [for characters] to solve problems."
The writers hired a legal adviser, too, to ensure every sequence was realistic. "We had a part in the story where someone gets detained," Nagoshi said, "and five days later they come out. But then the legal advisor said, 'You know, they can't be detained for that long. They would be released much sooner.' So then we had to go in and change the whole storyline." The team also had to alter the game to reflect any laws that were passed or altered mid-development. "That kind of stuff was all taken into consideration," Nagoshi said. "And in hindsight it was like, well, we chose a really difficult genre to craft a story for. It was definitely a challenge."
Judgmentdoes, occasionally, take a break from the mole murders and explore some secondary characters. These often feel like filler episodes and vary wildly in quality, however. Kaito's expulsion from the Matsugane family, for instance, is a welcome breather, while tailing a woman with a mysterious career is dull.Judgment, like its Yakuza predecessors, is also packed with optional side-stories that are both zany and heartwarming. "We want players to feel like there's more to this world because a city is full of people with different perspectives and different personalities," Nagoshi said. "It's not just the main character. So that's what we want players to feel as they're going on these side stories."
The excellent story takes place in Kamurocho, a modern-day metropolis based on the Kabukichō district in Shinjuku, Tokyo. It's littered with bars, host and hostess clubs, underground casinos and narrow back streets that give every scene a dirty, corrupt and somehow intoxicating feel. You truly believe that it's a world governed by a chaotic blend of Yakuza, police and peaceful civilians just trying to get by.
The Yakuza franchisetakes place in Kamurocho, too. Its streets will be familiar, therefore, to anyone that has played the last six-or-so games by RGG Studio. Still, the district has a grittier, bleaker look to reflect and compliment its hard-boiled detective drama. "[The game] has more of a suspenseful theme than the Yakuza series that showed Kamurocho," Nagoshi said. "And that affected the way that we colored and created this different mood for Kamurocho. So it's a little bit darker. There's more contrast there, in the colors and things like that. So that's one main difference. It looks a little bit darker."
Judgmentdoes introduce some new locales, including a cutting-edge medical facility called the ADDC (Advanced Drug Development Center). You also visit plenty of courtrooms and detention centers through interactive cinematics.
Judgmentleans too heavily on its Yakuza roots sometimes.
At its best,Judgmentfeels like the MarvelDefendersgame I've always dreamed of. The courtroom antics of Daredevil mixed with the detective work of Jessica Jones, the back-flipping combat of Iron Fist and the community-first heroics of Luke Cage.
There's a slight imbalance, though, with those elements.Judgmentleans too heavily on its Yakuza roots, sometimes, with battles that take place across multiple floors of a building. Roundhouse-kicking your way through enemies is a thrill, but sometimes the seemingly endless waves of enemies can be a pain. Toward the end of the game, I also grew tired of the near-constant street battles that erupt while you're wandering through the city. You can run away from these thugs, but weaving around them can be tiring when you're hooked on the story and just want to see what happens next.
Nevertheless,Judgmentis an excellent game for anyone that has never touched the Yakuza franchise. It has a fresh, endearing cast of characters and a story that requires zero past knowledge. The sleuthing, while simple, makes the game approachable for people who spend most of their spare time watching or reading detective stories.Judgmenteven has a Simple mode that effectively automates the combat. On Normal and Hard, of course, you'll need dexterity and strategy to power through some of the bosses and reach the end credits. But if you want a casual experience that's closer toUntil DawnorDetroit: Become Human, the option is there.
Judgmentisn't a grand departure from the classic Yakuza formula. You're still beating up street thugs and, at times, defying some seemingly impossible odds with the strength and vigor of Captain America. The story the game presents, though, is of a caliber usually reserved for prestige TV (heck, I'm sure someone will stitch the cutscenes together into a terrific YouTube movie). It's perfectly paced and, in my opinion, can be appreciated by anyone. Coupled with some excellent vocal performances -- both in the Japanese original and English localization -- this 20-ish hour adventure ranks among the best narrative experiences on the PS4.
Judgmentis available now on the PlayStation 4 for $59.99/£49.99. |
Amazon Could Be the Winner in the Disney-Netflix Battle
It's fashionable to pitNetflix(NASDAQ: NFLX)againstDisney(NYSE: DIS)these days. With theaggressively priced Disney+streaming service now less than five months away from launching, expect more people to be pushing the two media giants into the ring to determine the winner.
It's a silly sport, especially sincebothplayers willlikely emerge victorious. However, it's not just Netflix and/or Disney that will benefit from the arrival of Disney+ in November.Amazon.com(NASDAQ: AMZN)might wind up being the biggest winner here, and let's bring out Exhibit A --Captain Marvel-- to illustrate why the third party may be the best party in the streaming video war.
Image source: Disney.
Disney is in the process of pulling most of its flagship content off the Netflix service as the contracts go up for renewal, and the House of Mouse confirmed earlier this year thatCaptain Marvelwill be the first of its theatrical releasesnot to be made available on Netflix.
The critically praised superhero flick became available on DVD earlier this month, and it's also now available from streaming services like Amazon that also sell and/or rent digital releases. You can't streamCaptain Marvelon Netflix, and Disney+ is still months away from availability. Amazon, on the other hand, will gladly rent or sell you a digital copy right now.
You can streamCaptain Marvelas a rental on Amazon for as little as $3.99 or buy the digital copy outright for either $14.99 in standard definition or $19.99 in high-def. Netflix has no intention of offering piecemeal rentals or purchases, and Disney+ will likely lean on its low monthly subscription price to avoid the need for one-off rentals. Amazon has an opportunity here, and it could be why it's promoting the $3.99 price for either standard or high-definition. Those prices are normally $5.99 and $4.99, respectively, on Amazon's digital storefront.
Netflix doesn't even have the DVD available to rent this month, as its deal with Disney calls for waiting four weeks on a home release before offering it on disc. It also needs to be said that Netflix now has less than 2.6 million subscribers on DVD plans, 4% of its U.S. streaming subscriber base and less than 2% of its global membership audience.
The door is now open for Amazon to score heavy digital rental activity forCaptain Marvel, and in the process introduce its growing Prime Video audience to its expanding catalog of digital rentals. Netflix is hot. Disney+ will be hot. Amazon could be scorching hot if it establishes itself as the studio-agnostic marketplace for digital rentals and purchases.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Rick Munarrizowns shares of Netflix and Walt Disney. The Motley Fool owns shares of and recommends Amazon, Netflix, and Walt Disney. The Motley Fool has adisclosure policy. |
ETH vs. WSM: Which Stock Should Value Investors Buy Now?
Investors interested in Retail - Home Furnishings stocks are likely familiar with Ethan Allen (ETH) and Williams-Sonoma (WSM). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
Ethan Allen has a Zacks Rank of #2 (Buy), while Williams-Sonoma has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that ETH has an improving earnings outlook. However, value investors will care about much more than just this.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
ETH currently has a forward P/E ratio of 12.67, while WSM has a forward P/E of 13.21. We also note that ETH has a PEG ratio of 0.84. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. WSM currently has a PEG ratio of 1.83.
Another notable valuation metric for ETH is its P/B ratio of 1.44. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, WSM has a P/B of 4.31.
These are just a few of the metrics contributing to ETH's Value grade of A and WSM's Value grade of C.
ETH stands above WSM thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ETH is the superior value option right 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 reportEthan Allen Interiors Inc. (ETH) : Free Stock Analysis ReportWilliams-Sonoma, Inc. (WSM) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Has American International Group (AIG) Outpaced Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. American International Group (AIG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of AIG and the rest of the Finance group's stocks.
American International Group is one of 854 individual stocks in the Finance sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AIG is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AIG's full-year earnings has moved 12.69% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AIG has gained about 35.30% so far this year. At the same time, Finance stocks have gained an average of 11.13%. This means that American International Group is outperforming the sector as a whole this year.
Looking more specifically, AIG belongs to the Insurance - Multi line industry, a group that includes 27 individual stocks and currently sits at #37 in the Zacks Industry Rank. Stocks in this group have gained about 14.02% so far this year, so AIG is performing better this group in terms of year-to-date returns.
AIG will likely be looking to continue its solid performance, so investors interested in Finance stocks should continue to pay close attention to the company.
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 reportAmerican International Group, Inc. (AIG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
WTFC vs. MBWM: Which Stock Is the Better Value Option?
Investors looking for stocks in the Banks - Midwest sector might want to consider either Wintrust Financial (WTFC) or Mercantile Bank (MBWM). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
Wintrust Financial and Mercantile Bank are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that WTFC is likely seeing its earnings outlook improve to a greater extent. However, value investors will care about much more than just this.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
WTFC currently has a forward P/E ratio of 10.71, while MBWM has a forward P/E of 12.58. We also note that WTFC has a PEG ratio of 0.79. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. MBWM currently has a PEG ratio of 1.57.
Another notable valuation metric for WTFC is its P/B ratio of 1.24. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, MBWM has a P/B of 1.37.
These are just a few of the metrics contributing to WTFC's Value grade of B and MBWM's Value grade of C.
WTFC is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that WTFC is likely the superior value option right 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 reportWintrust Financial Corporation (WTFC) : Free Stock Analysis ReportMercantile Bank Corporation (MBWM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Is Elevate Credit, Inc. (NYSE:ELVT) Potentially Underrated?
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Elevate Credit, Inc. (NYSE:ELVT) is a stock with outstanding fundamental characteristics. When we build an investment case, we need to look at the stock with a holistic perspective. In the case of ELVT, it has a a strong history of performance as well as a excellent growth outlook going forward. 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 Elevate Credit here.
ELVT is an attractive stock for growth-seeking investors, with an expected earnings growth of 27% in the upcoming year underlying the notable 21% return on equity over the next few years leading up to 2022. In the past couple of years, ELVT has ramped up its bottom line by over 100%, with its latest earnings level surpassing its average level over the last five years. In addition to beating its historical values, ELVT also outperformed its industry, which delivered a growth of 36%. This is an notable feat for the company.
For Elevate Credit, I've compiled three fundamental factors you should further examine:
1. Financial Health: Does it have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk.
2. Valuation: What is ELVT 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 ELVT is currently mispriced by the market.
3. Other Attractive Alternatives: Are there other well-rounded stocks you could be holding instead of ELVT? 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. |
Company News For Jun 25, 2019
• Shares of Caesars Entertainment Corp. CZR surged 14.5% following news that Eldorado Resorts Inc. ERI will acquire it for $8.6 billion
• Bristol-Myers Squibb Co. BMY shares plunged 7.4% after the company announced that its merger with Celgene Corp. CELG will be delayed till the end of 2019 or early 2020
• The Coca-Cola Co. KO shares rose 0.7% after the company teamed up with China’s Mengniu Dairy to sponsor the Olympics until 2032
• Shares of Verizon Communications Inc. VZ increased 0.9% after the company announced availability of Yahoo Finance apps on Fire TV, Android TV and Apple TV
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 reportCaesars Entertainment Corporation (CZR) : Free Stock Analysis ReportBristol-Myers Squibb Company (BMY) : Free Stock Analysis ReportVerizon Communications Inc. (VZ) : Free Stock Analysis ReportEldorado Resorts, Inc. (ERI) : Free Stock Analysis ReportCoca-Cola Company (The) (KO) : Free Stock Analysis ReportCelgene Corporation (CELG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Former White House lawyer: 'I’m not aware of any situation like' Elaine Chao's reported conflicts of interest
This post has been updated after additional comment and information from the Department of Transportation.
Department of Transportation Secretary Elaine Chao’s personal connections are raising concerns on Capitol Hill and beyond amid recent reports of various conflicts of interest.
Recent reports found that the Trump cabinet member created a “special path” for projects favored by Senate Majority Leader and husband Mitch McConnell for his home state of Kentucky; sheretained shares in a construction-materials companyfor more than a year after promising torelinquishthem; and she has “extraordinary proximity to power in China” given her family’s American shipping company is largely based in China.
“I am not aware of any situation like this,” Virginia Canter, chief ethics counsel at Citizens for Responsibility and Ethics in Washington, told Yahoo Finance.
“Corruption is the use of public office for private gain,” Canter, who previously served as the White House associate counsel to Presidents Barack Obama and Bill Clinton, added. “And corrupt activity takes place because it tends to promote, or make policies or decisions that benefit the private interests of … their family members, if not themselves directly…. this broadly fits in with ... the broad definition of what corruption is.”
In response to the reports, a spokesperson from the Department of Transportation (DoT) told Yahoo Finance in an email: “These disingenuous attacks are simply political hit jobs filled with innuendos that continue to be rejected every time they are recycled.”
House Transportation Committee Rep. Peter DeFazio (D-Ore.), responding to a Politicoreportabout a top transportation official under Chao helping coordinate grant applications made by McConnell’s political allies, said in a statement that “if the Committee gets information that President Trump’s Transportation Secretary Elaine Chao is abusing her position to dole out projects to benefit her husband’s reelection bid, then I would certainly have questions that would need to be answered, and I would use all tools at my disposal to get those answers.”
The statement added: “At this point, all options are on the table.”
And Rep. Sean Maloney (D-NY), one of the members on the committee heading maritime policy, recentlytold MSNBCthat Rep. DeFazio “has given me the green light to proceed with an inquiry on this subject” after a New York Timesinvestigationdetailed her family’s deep ties to China’s elite through shipping connections.
Maloney added: “We intend to get the facts about what happened. And we are not going to pre-judge it. We are going to be fair. But there are serious allegations that the Secretary of Transportation has used her position to benefit her family’s business… and to help her husband… that’s wrong. It’s not politics as usual, it’s nepotism. And the public deserves to know what the truth is.”
The DoT spokesperson added that the Politico story “intentionally misleads readers, misrepresents the grant application process and disregards key facts” while the New York Times’ story “demonstrates deep misunderstanding of the work of Department of Transportation and the U.S. maritime industry.”
TheTimesinvestigation detailed how the cabinet member had requested federal officials help coordinate travel arrangements for at least one family member and relatives in meetings with Chinese officials.
“What was alarming is that she was attempting to bring representatives of this company on an official trip to China with her, and they have major interests in China,” said Canter. “There's just a basic principle — you're prohibited as a government official from using public office for private gain… it's entirely inappropriate.”
The NYT also reported that Chao and McConnell “received millions of dollars in gifts from her father,” who ran a shipping business called Foremost Group until last year. Chao has no formal affiliation or stake with the company.
Chao’s father also shares a close relationship with the former head of the Chinese Communist Party, Jiang Zemin.
Furthermore, the Times found that McConnell’s re-election campaigns have received more than $1 million in contributions from Chao’s extended family.
The DoT spokesperson stressed that the “Foremost Company does no business with the U.S. government and does not receive any U.S. government financing.”
The other big issue stems from aPoliticoreport that Chao’s office created a special arrangement which allowed McConnell to benefit from $78 million worth of projects for Kentucky.
Chao reportedly designated a special liaison to help with grant applications and other priorities from McConnell’s state of Kentucky. That aide helped steer grants that were important to McConnell, which includes one that had been rejected twice previously, ahead of his reelection campaign. The total amount was estimated to be at least $78 million.
“When you have a cabinet secretary who is behaving in a way that is not traditional and is behaving in a way that helps members of her own family, it certainly raises questions about the way in which taxpayer dollars are being distributed, or being spent in other ways,” John Hudak, a senior fellow in governance studies at the Brookings Institution, told Yahoo Finance.
Looking at the existing issues Chao has been embroiled with, “you don't need explicit corruption — meaning something that an individual can be charged with, or a basis for an impeachment for an individual — for behavior to be sort of swamp behavior,” Hudak said. “If you're looking to drain the swamp, draining the swamp requires not just stopping illegal behaviors, but trying to make individuals within your administration make better decisions, not just public policy decisions, but also better decisions about the optics of how government works.”
And ultimately it came down to the tone — or the optics — that President Donald Trump’s administration is setting, Canter and Hudak emphasized.
“The concern is that this administration has come in with a vast appetite to just come in and exploit their positions for their personal benefit, or for that of their family members,” said Canter. “It greatly exceeds any type of corrupt activity at the highest levels of the government.”
“If you see a president who is working tirelessly to act in an ethical way, people below that President are also going to work more ethically,” said Hudak. “When you see a president who's engaged in behaviors that are questionable… people take a cue then about how far they can push the envelope.”
—
Aarthi is a writer for Yahoo Finance. Follow her on Twitter@aarthiswami.
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Philippine Metals Announces Proposed Acquisition of US Cannabis Extraction Business
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2019) -Philippine Metals Inc.(TSXV: PHI) ("PMI" or the "Company") is pleased to announce that it has entered into a letter of intent dated June 24, 2019, with an Arizona company doing business under the name Venom Extracts ("Venom"), whereby PHI will acquire all of the outstanding shares of Venom in exchange for shares of the Company (the "Acquisition"). The Acquisition will constitute a reverse takeover ("RTO") of the Company. All currency figures quoted herein are in Canadian dollars.
Information concerning Venom
Operating since 2017, Venom (www.venomextracts.com) manufactures and markets a range of cannabis extracts and related products to licensed retailers in the State of Arizona under the name "Venom Extracts". In addition to growing its operations in Arizona, Venom intends to pursue a growth strategy in additional US states, including near term plans for Ohio and Oklahoma. In the year ended December 31, 2018, Venom generated revenues of approximately $6.25 million and net income of approximately $0.25 million (all results are unaudited and subject to adjustment). Subsequent to year end, revenues have continued to grow and in the month of May 2019 Venom generated record sales of approximately $1.25 million.
Transaction summary
Pursuant to the Transaction, it is anticipated that PHI will consolidate its outstanding common shares on the basis of one new share for every three old shares. PHI will issue 46 million new PHI shares in exchange for 100% of the issued and outstanding shares of Venom. The final structure of the Transaction is subject to receipt of tax, corporate and securities law advice for both PHI and Venom. The Company intends to de-list from the TSX Venture Exchange and obtain a listing of its shares on a post-Transaction basis on the Canadian Securities Exchange. De-listing from the TSX Venture Exchange will be subject to receipt of PHI shareholder approval (on a majority of the minority basis).
The Transaction will be an arm's-length transaction and will not be a related party transaction, under applicable securities rules. No deposit or advance has been made, or is anticipated to be made, by PHI to Venom in connection with the Transaction. The Company currently has 16,446,691 common shares issued and outstanding, as well as 1,300,000 stock options exercisable at $.07 per share and 2,428,688 warrants to acquire PHI shares exercisable at $0.10 per share. Venom has 100 shares currently issued and outstanding.
The Transaction is subject to a number of terms and conditions, including, but not limited to: the parties entering into a definitive agreement with respect to the Transaction (such agreement to include representations, warranties, conditions and covenants typical for a transaction of this nature); the completion of satisfactory due diligence investigations by the parties on or before June 30, 2019; receipt of all necessary board and shareholder approvals; completion of the financings described below; and receipt of the approval of the CSE to list the Company's shares following the completion of the Transaction. Additionally, PHI, as a condition of closing, plans to convert its ownership in its Philippine subsidiary to a 1% royalty interest in the underlying mining projects located in the Philippines. There can be no assurance that the Transaction will be completed as proposed or at all.
Trading in the shares of PHI is expected to remain halted throughout the duration of the Transaction and until the shares are listed on the CSE. Further details concerning the Transaction (including additional financial information) and other matters will be announced if and when a definitive agreement is reached.
Financings
It is anticipated that in connection with the Transaction the Company and Venom complete up to three financings. Firstly, to fund Transaction expenses, the Company intends to immediately complete a private placement of up to $250,000 at terms to be agreed. Secondly, Venom may complete an interim financing of up $1,300,000 at terms to be agreed. It is expressly understood that this second financing is not a condition of closing the Transaction, but may be effected to provide immediate working capital to Venom. Should this second proposed financing be completed, additional new PHI shares will be issued upon the closing of the Transaction. Finally, pursuant to the letter of intent, it is a condition of closing that the Company will have completed a financing of a minimum of $5,500,000 and up to a maximum of $10,000,000, with the structure and pricing to be in the context of market conditions prevailing at the time of closing.
Management and board of directors of Resulting Issuer
Upon completion of the Transaction, it is expected that the board of directors of the Company (the "Resulting Issuer") will be comprised of Mason Cave, Jacob Cohen, Tracy Cairns, Tyler Henson and Craig Lindsay. Mr. Cave will be the chief executive officer and Jacob Cohen its Chief Operating Officer. The Resulting Issuer has not yet selected its chief financial officer. Brief biographies of the individuals named above are provided below.
Mason Cave, Chief Executive Officer and Director- Mason will be responsible for the overall direction and management of the Resulting Issuer and is the current CEO of Venom. Prior to working with Venom, Mason consulted with many companies in the marijuana industry including dispensaries, growers and extraction companies where he served in executive roles overseeing audits and streamlining, expanding or standardizing operations. Before becoming a specialized consultant, he was CEO of a 50,000 square foot grow operation in Arizona. In addition to his career in the marijuana industry, Mason served in many executive and senior management finance positions with multi billion dollar real estate companies. On a volunteer basis, Mason assisted in successfully lobbying Bills SB1286 (access to medical marijuana in rural areas) and SB1494 (marijuana testing) through the Arizona State Legislature.
Jacob Cohen, Chief Operating Officer and Director- Jacob (Jake) is responsible for the creation and vision of Venom Extracts. Jacob over-sees all daily operations of the Company including: production (extraction), packaging, financial, marketing and sales. He maintains the Company's relationships in the Medical Marijuana industry to both procure and wholesale product. Under Jacob's leadership, Venom Extracts grew from its first sale in 2017 to over $6 million in 2018. Prior to starting Venom, Jacob was the operational manager of an extraction company based out of Oregon. While there he was responsible for managing all aspects of the business and grew sales by over 1,000% and improved EBITDA margin from a loss to net 25%.
Tracy Cairns, Director- Tracy is a seasoned consumer products and sales executive and most recently worked with Aurora Cannabis as the Director of Retail Sales where she was responsible for engineering their Adult Use Cannabis Go-to-Market strategy. She is fully versed in the complex government regulations that define the recreational market in Canada as well as certain United States. Prior to joining the cannabis industry, Tracy worked as a Director in the beverage alcohol industry for 20 years where she earned the reputation as an ambitious leader who worked to engage teams through building a culture that collaborated to achieve mutual success.
Tyler Henson, Director- Tyler Henson brings an extensive background in the cannabis marketplace. Mr. Henson is currently the VP of Regional Government affairs for Axiom politics, overseeing thirteen states. Axiom is a political consultancy firm based in Colorado where he specializes in cannabis, tobacco, liquor, gaming and business policy. Prior to his current role, Mr. Henson was the President of the Colorado Cannabis Chamber of Commerce (C4), a 501c6 non-profit dedicated to the economic advancement of the regulated cannabis industry in Colorado. Under his leadership, Colorado adopted standards for cannabis testing, edible production and the allowance of out of state investment for the licensed and regulated cannabis industry. Mr. Henson speaks regularly at many conferences about the regulated cannabis industry in the United States and Canada. Mr. Henson also took an active role in founding the Canadian Cannabis Chamber of Commerce, a non-profit organization to promote the regulated business interests in the Province of Alberta
Craig Lindsay, Director- Mr. Lindsay has in excess of 20 years' experience in corporate finance, investment banking and business development in both North America and Asia. Mr. Lindsay is the current President and CEO of the Company.
All information contained in this news release relating to Venom was provided by Venom to the Company for inclusion herein. The Company has not independently verified such information and shall bear no liability for any misrepresentation contained therein. Completion of the transaction is subject to a number of conditions, including, but not limited to, CSE acceptance to list the Company's common shares and, if applicable, pursuant to CSE requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of PHI should be considered highly speculative.
Forward Looking Information
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the transactions, concurrent financings or any contemplated change to the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
ON BEHALF OF THE BOARD
"Craig T. Lindsay"
Chief Executive Officer
For additional information, please contact:
Craig Lindsay
Tel: (604) 218-0550
Completion of the transaction is subject to a number of conditions, including, but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information release or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Philippine Metals Inc. should be considered highly speculative.
The TSX Venture Exchange In. has in no way passed upon the merits of the proposed transaction and has neither approved not disapproved the contents of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45871 |
CMS' Final Verdict on TAVR: A Boon or Bane for MedTech?
The transcatheter aortic valve replacement (TAVR) market, which is projected to witness a CAGR of 18.3% between 2017 and 2022 (per a report by Azoth Analytics published on ReportsnReports), has been constantly on the radar of investors.
Recently, the Centers for Medicare and Medicaid Services’ (CMS) final update on national coverage determination (NCD) related to TAVR programs, has once again caused a stir on the bourse as this policy revision is inviting mixed reviews from the industry members.
The industry players, who are always neck and neck in modernizing their TAVR procedures, consider this decision a major progress in terms of increased flexibility in treatment options. However, the medical device organisations are raising questions about any deterioration of the standard of care as a result of this. Let us delve deeper.
The Final Update at a Glance
Per the final update, TAVR is covered for the treatment of symptomatic aortic valve stenosis when furnished according to an FDA-approved indication and when certain conditions are met.
In a gist, going by a MEDTECHDIVE report, the new rules will overall ease volume requirements for hospitals and physicians to begin TAVR programs. However, this will increase the number of valve procedures necessary to maintain a program. This is going to expand patient access to TAVR by lessening the requirements that hospitals and clinicians must meet to start the programs. For investors’ knowledge, earlier in March, CMS announced a draft NCD with the aim to broaden the NCD guideline so that low-volume heart institutes get the eligibility to offer TAVR to ramp up patient access.
MedTech Majors in Favour of the Rule
According to Edwards Lifesciences EW, majority of the core element of the updated NCD provides better reflection of modern-day treatment of patients with severe Aortic stenosis (AS). Per the company, this will widen the access of TAVR procedure. Management stated: “We are encouraged that CMS is open to moving toward a quality measure focused on patient outcomes, not procedural volume, in evaluating hospitals eligible to provide TAVR in the U.S.”
Another entity enthusiastic about the final update by CMS is Medtronic MDT as this too feels that the development will result in higher patient access to TAVR therapy. The company believes that the new coverage policy will enable appropriate patient access to TAVR especially for patients in rural communities.
Per a MEDTECHDIVEr report, Boston Scientific BSX also (who became the third manufacturer to gain an FDA approval for a TAVR system in April) lent its support to CMS' proposed volume requirements.
Others Contradict
While the industry behemoths are going gaga over the new CMS update, organisations like Heart Valve Voice US are not far behind either in expressing doubts over the updated policy. Per a Cision report, Lisa M Tate, interim executive director for Heart Valve Voice, said: "CMS's decision to judge hospitals on volume, rather than quality outcomes, will further deny patient access to this innovative procedure. This is despite seven years of data showing that lower volume hospitals and higher volume hospitals have nearly equal outcomes."
Earlier in April, four medical societies, namely the Society of Thoracic Surgeons, American College of Cardiology, American Association for Thoracic Surgery and the Society for Cardiovascular Angiography and Interventions also put forward their respective statements against any revision in the TAVR policy. Alike Heart Valve Voice, these institutes were apprehensive about the growing risk in having suboptimal outcomes of this policy revision.
Investors' Take
Irrespective of the shortcomings of the ongoing policy-related dispute, we expect the TAVR technology to nonetheless succeed in deepening its penetration level as it successfully did over the past several years. Investors may continue to keep close tabs on the industry movement as it is a much-coveted area within the medical devices space with many players currently adopting the acquisition route to harness the billion-dollar market opportunity.
Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportBoston Scientific Corporation (BSX) : Free Stock Analysis ReportMedtronic PLC (MDT) : Free Stock Analysis ReportEdwards Lifesciences Corporation (EW) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
8 Reasons to Include UMB Financial (UMBF) in Your Portfolio
UMB Financial CorporationUMBF appears to be a promising bet now given its solid organic growth and robust fundamentals. Also, its earnings growth prospects are impressive. In addition, higher interest rates and improving economy are anticipated to stabilize its top line.
Further, it has been successful in gaining analysts’ confidence. Its current-year earnings estimates have been revised 1.5% upward over the past 60 days. As a result, the stock carries a Zacks Rank #2 (Buy).
Shares of UMB Financial have gained 3.9% over the past six months compared with industry’s growth of 7.6%.
What Makes the Stock Attractive
Revenue Strength: UMB Financial has an impressive revenue growth story. Its top line witnessed a CAGR of 7.1% over the last five years (2014-2018) on the back of rising interest income and fee income growth. Also, its projected sales growth rate of 7.9% for 2019 and 3.5% for 2020 ensures the continuation of the uptrend in revenues.
Earnings Per Share (EPS) Growth: UMB Financial witnessed earnings growth of 12.5% in the last three to five years. This earnings momentum is likely to continue in the near term as reflected by the company’s projected EPS growth rate of 18.6% for 2019 and 2.5% for 2020.
Further, the company’s long-term (three to five years) estimated EPS growth rate of 7.6% promises rewards for investors.
Impressive Balance Sheet Growth:UMB Financial’s loans and deposits have witnessed a CAGR of 14.7% and 9.1%, respectively, over a five-year period (ended 2018). Also, both loan and deposit balances are likely to get support from an improving economy.
Strong Leverage: UMB Financial’s debt/equity ratio is 0.03 compared with the industry average of 0.37. The relatively strong financial health of the company will help it perform better than its peers in a dynamic business environment.
Steady Capital Deployment Activities: In October 2018, the board of directors hiked quarterly dividend by 3.4%. Also, in April 2019, the company announced a share repurchase authorization of up to 2 million shares. Moreover, its debt/equity ratio and dividend payout ratio compare favorably with that of the broader industry, reflecting the fact that such dividend hikes are sustainable.
Superior Return on Equity (ROE): UMB Financial’s ROE of 8.9% compared with the industry average of 10.7% underlines the company’s commendable position over its peers.
Valuation Looks Reasonable: UMB Financial looks undervalued, with respect to its price-to-sales (P/S) ratio. The company has a P/S ratio of 2.63 compared with the industry average of 2.95. Also, the bank’s PEG ratio of 1.6 is below the industry average of 1.7.
Additionally, the company has a Value Score of B. The Value Score condenses all valuation metrics into one actionable score that helps investors steer clear of ‘value traps’ and to identify stocks that are truly trading at a discount. Our research shows that stocks with Style Scores of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2, offer the best upside potential.
FavorableVGM Score: UMB Financial has a VGM Score of A. Our research shows stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best upside potential.
Other Stocks to Consider
First Business Financial Services FBIZ has witnessed 10.7% upward estimate revision over the past 60 days. The company’s shares have risen nearly 21% in the past six months. It has a Zacks Rank #2 at present. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Mackinac Financial Corporation’s MFNC shares have rallied 20.9% in six months’ time. Further, the company’s earnings estimates for the ongoing year have moved 2.3% north in the past 60 days. The stock currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for the current year for Wintrust Financial Corporation WTFC, carrying a Zacks Rank #2, has been revised slightly upward in the past 60 days. The company’s share price has jumped 12.8% in the past six months.
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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 reportUMB Financial Corporation (UMBF) : Free Stock Analysis ReportWintrust Financial Corporation (WTFC) : Free Stock Analysis ReportFirst Business Financial Services, Inc. (FBIZ) : Free Stock Analysis ReportMackinac Financial Corporation (MFNC) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Willow Smith says she would want a bisexual, polyamorous relationship
Willow Smith says she would be open to a relationship involving multiple people. [Photo: Getty] Willow Smith has spoken out about her curiosity for having an unconventional romantic relationship involving multiple people. Speaking on Facebook series Red Table Talk, the 18-year-old daughter of Will Smith and Jada Pinkett-Smith said she had researched polyamorous relationships after coming across a couple who followed this lifestyle on Instagram . She said she would be happy to be in a throuple relationship with one man and one woman. READ MORE: Bride and groom fall in love with their bridesmaid 'I feel like I could be polyfidelitous [in a committed relationship with multiple people] with those two people, she explained in conversation with her Red Table Talk co-hosts mother Jada, 47, and grandmother Adrienne Banfield Norris, 65. View this post on Instagram A post shared by Jada Pinkett Smith (@jadapinkettsmith) on Jun 24, 2019 at 9:01am PDT I'm not the kind of person that is constantly looking for new sexual experiences, she added. I focus a lot on the emotional connection and I feel like if I were to find two people of the different genders that I really connected with and we had a romantic and sexual connection, I don't feel like I would feel the need to try to go find more. READ MORE: 'Polyamory isn't abnormal it could benefit couples more than they realise' Willow also expanded on her reservations about being in a monogamous relationship. Monogamy, I feel - and this is just for me - I feel actually inhibits you from learning those skills of evolving past those feelings of insecurity, she said. That feeling of Oh, no, you can't do this... if you were to do this, the world would crumble on both sides. There's just no freedom, it's all fear based. Smith was met with a mixed reaction from her family members. Her grandmother Adrienne said: I would not be excited about that. It doesn't sit well with me, I don't understand this emotional commitment. However, Jada was more open to the idea, urging her daughter to do: Whatever makes you happy. Story continues Some 4.2% of the UKs young people (aged between 16 and 24 years old) identify as lesbian, gay or bisexual , according to data from the Office of National Statistics. This is a higher proportion than any other age group. Meanwhile, one study from healthcare company euroClinix found nearly a fifth of Brits would be open to polyamory . |
Amazon announced the date of Prime Day, and it sounds like Alibaba’s Singles Day
Amazon justreleased the datesof Prime Day – and this year the sale event will be the longest ever, lasting a full two days.
Prime Day, the annual shopping event for Prime members, will run July 15 to 16. Like previous years, the best deals usually feature Amazon’s own products, like the Amazon Fire TV and the Echo smart speaker. An early deal, Toshiba HD 43-inch Fire TV Edition Smart TV, is selling at $179.99, 40% off the regular price.
Amazon (AMZN) started Prime Day in 2015, and it has evolved as the Seattle e-commerce giant’s business footprint expands. In the early years, the main purpose of Prime Day was to attract more people to sign up for Prime, which now costs $119 a year and gives members free 2-day shipping among other perks. Now 59% of U.S. households are Prime members,according to RBC Capital Research. Prime Day has put more focus on engaging members and increasing their spending on the platform. The deals also expanded from online to stores like Whole Foods.
Amazon wants its users to get comfortable with voice shopping, so this year it has pushed some early access to deals only available through its smart speaker Alexa. Amazon also touts one-day delivery on more than 10 million products. The company announced in April it is investing $800 million in the second quarter to speed up delivery times.
To spice up the shopping holiday, Amazon seems to have borrowed a page from Alibaba’s playbook, promoting offerings beyond deals that are similar to the Chinese e-commerce giant’s Singles Day.
Started a decade ago, Singles Day is the biggest one-day shopping holiday in the world, scoring $30.8 billion in sales last year. The event usually kicks off with a four-hour gala featuring celebrities both from China and overseas, including Nicole Kidman and Mariah Carey. Alibaba’s Tmall has been working with brands like Mars to launch new products.
For the first time, Amazon is also selling exclusive launches and collaborations on Prime Day, both online and in-store. Levi’s will drop a special version of its iconic jeans designed by football player Sterling Shepard and model Chanel Iman Shepard. In its release Amazon also teased “special performances” and “great entertainment.” Last year, Amazon Music hosted an Unboxing Prime Day concert in New York featuring Ariana Grande and Alessia Cara days ahead of the sale event.
“Our vision is that Prime Day should be the absolute best time to be a member – when you can enjoy shopping, savings, entertainment and some of the best deals Prime members have ever seen,” said Jeff Wilke, head of Amazon Worldwide Consumer.
Krystal Hu covers technology and China for Yahoo Finance. Follow her onTwitter.
Read more:
• New bipartisan bills threaten Chinese IPOs and Chinese companies listed in the U.S.
• Amazon just got FAA approval to fly drones for deliveries
• Huawei is still winning 5G contracts around the world despite the U.S. ban
Read the latest financial and business news from Yahoo Finance
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Should You Investigate Interroll Holding AG (VTX:INRN) At CHF2,420?
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Interroll Holding AG (VTX:INRN), which is in the machinery business, and is based in Switzerland, received a lot of attention from a substantial price increase on the SWX over the last few months. With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. But what if there is still an opportunity to buy? Today I will analyse the most recent data on Interroll Holding’s outlook and valuation to see if the opportunity still exists.
View our latest analysis for Interroll Holding
Interroll Holding appears to be overvalued by 43.21% at the moment, based on my discounted cash flow valuation. The stock is currently priced at CHF2,420 on the market compared to my intrinsic value of CHF1689.87. This means that the buying opportunity has probably disappeared for now. Another thing to keep in mind is that Interroll Holding’s share price is quite stable relative to the market, as indicated by its low beta. This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again.
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 42% over the next couple of years, the future seems bright for Interroll Holding. 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?INRN’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value. At this current price, shareholders may be asking a different question – should I sell? If you believe INRN should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable. But before you make this decision, take a look at whether its fundamentals have changed.
Are you a potential investor?If you’ve been keeping an eye on INRN for a while, now may not be the best time to enter into the stock. The price has surpassed its true value, which means there’s no upside from mispricing. However, the positive outlook is encouraging for INRN, which means it’s worth diving deeper into other factors 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 Interroll Holding. You can find everything you need to know about Interroll Holding inthe latest infographic research report. If you are no longer interested in Interroll Holding, 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. |
Kuwait Airways Boeing 777 hits jet bridge at Nice Airport
A plane hit a jet bridge at Nice Airport, resulting in a number of delays. A Kuwait Airways Boeing 777 hit a boarding bridge at the South of France airport at around 6pm last night. All passengers and crew were reported to have been safely evacuated from the aircraft and there were no injuries. Video footage shows the left wing of the aircraft crunched into the structure. According to the Kuwait News Agency (KUNA) , the incident occurred when a member of ground personnel “committed a mistake in guiding the plane to its parking slot". It's understood that the airline cancelled the return leg of the service and alternative arrangements were made for affected passengers. The national carrier said that wing repairs were underway in order for the aircraft to return to Kuwait as soon as possible. The Independent has approached Kuwait Airways for comment. View comments |
Tech Giants Lose Out on Business Opportunities Amid Trade Tiff
The trade-war between the United States and China peaked in the first-half of 2019, following President Trump’s imposition of an additional 25% in May to which China retaliated with its own tariff on U.S. goods.The high hopes of a positive development on the trade war front in second-half of 2019 now seems to be evaporating rapidly on latest not-so-welcome developments.A recent tweet from President Trump suggesting trade negotiations ahead of talks with China President Xi had raised optimism on a plausible truce. However, there is a simultaneous discussion on imposition of further tariffs of approximately $300 billion on Chinese imports primarily on consumer goods, in case conciliation fails.Technology stocks, in particular, have been coerced to lose out on international revenues owing to high tariffs imposed by U.S. administration on China. Majority of technology companies have trimmed their outlook for fiscal 2019 on various aspects of trade war concerns, be it tariffs or blacklisting.The U.S. government recently announced blacklisting of several China-based companies. Markedly, blacklisting of Huawei affected prominent semiconductor stocks including Broadcom, Skyworks, Qorvo, Lumentum, among others.
Year-to-Date Price Performance
Huawei and Related Risks Impact GoogleAlphabet’s GOOGL Google has reportedly moved major part of motherboard production to Taiwan. The company is also considering shifting the manufacturing of Nest-related hardware from Beijing to deal with tariffs.The search giant had to suspend business with Huawei, as a result of which Huawei’s next series of smartphones will reportedly not have access to Gmail, Google Play Store and YouTube apps. There is uncertainty whether Android operating system will power Huawei’s next series of smartphones, which ultimately leads to loss of business for Alphabet.AMD’s JV at RiskA fresh round of blacklisting of a quintet of China-based supercomputing companies is likely to affect Advanced Micro Devices AMD business. The decision is likely to affect AMD’s joint venture named THATIC (Tianjin Haiguang Advanced Technology Investment Company). The JV involves two companies Hygon and Haiguang Microelectronics, both of which are now blacklisted.Through the THATIC JV, AMD realized $86 million or 1.3% of total revenues in 2018. The impact of the ban on AMD’s JV is likely to weigh on margins, as it misses to register the “IP-related revenues”, at least in the near term. Notably, China (including Taiwan) contributed 38.9% to total revenues in 2018.Intel & Apple Likely to Restructure Supply ChainDuring first-quarter 2019 earnings conference, Intel INTC slashed guidance for 2019 owing to trade-war concerns. Reportedly, the US administration has banned the semiconductor giant from selling its Xeon processors to China, which is an overhang.Moreover, the company is apparently reconsidering its supply chain to deal with the trade war impact.Further, Apple AAPL is reportedly reviewing transition of 15-30% of production base from China to other Southeast Asia facilities. The iPhone maker along with companies like Fitbit and Dollar Tree, among others, has asked the US government to reconsider the additional $300 billion worth of tariff imposition.Notably, reduced demand for iPhone in China has severely affected Apple’s sales over the last couple of quarters.Amazon Likely to Lose MerchantsAmazon AMZN would have likely not made it to the list, given the diverse end-markets providing it a hedge against the tough times. However, if the new set of tariffs is imposed, consumer sales are likely to be impacted, taking a toll on its merchants with small businesses.Moreover, the presence of cloud players like Alibaba and Tencent in China almost nullifies the dominance of Amazon Web Services in the country.Oracle and IBM Being SubstitutedOracle ORCL and International Business Machines Corporation's IBM expertise in database management enterprise software is being challenged by China-based startups like PingCAP. The rising adoption of PingCAP’s offerings post Huawei blacklisting is fueling the “Buy China” wave.Per Bloomberg, major companies including Xiaomi, iQIYI Inc., food delivery company Meituan and bike-sharing portal Mobike, selected PingCAP’s services over Oracle and IBM’s solutions. Reduction in China-based clientele is likely to weigh on growth prospects of Oracle and IBM.Wrapping UpThe opportunity costs of tariff imposition are huge and once they trickle down to consumers, the entire economy stands to suffer.The hopes on trade war truce, and talks on Huawei blacklisting, ahead of the impending meeting of Trump and Xi is keeping investors on tenterhooks.Zacks RankCurrently, Oracle carries a Zacks Rank #2 (Buy), while AMD, Intel, Amazon, Alphabet, Apple, and IBM carry a Zacks Rank #3 (Hold). You can seethe complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportInternational Business Machines Corporation (IBM) : Free Stock Analysis ReportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportApple Inc. (AAPL) : Free Stock Analysis ReportOracle Corporation (ORCL) : Free Stock Analysis ReportAdvanced Micro Devices, Inc. (AMD) : Free Stock Analysis ReportIntel Corporation (INTC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Tech Giants Serve Underbanked Community, Rattles Banking Space
Fintech services are well-poised to deliver seamless banking experience to the underbanked world that accounts for a significant portion of the world population.Increasing penetration of internet and smartphone usage are leading to rising adoption of mobile wallets, digital payment applications and virtual credit/debit cards especially among the people who don’t have access to banking services.Tech giants like Apple AAPL, Amazon AMZN, Alphabet’s GOOGL Google and Facebook FB are aggressively leveraging advanced technologies including AI, blockchain, data analytics, Augmented Reality (AR/), IoT and ML to penetrate the underbanked.Further, online payment software providers like Square SQ and PayPal PYPL are also leaving no stone unturned to expand their presence in the emerging economies in order to reach the underbanked customers.
Year-to-Date Price Performance
Google-Apple-Facebook-Amazon’s (GAFA) Aggressive StanceThe GAFA group comprising the tech behemoths is gaining traction in the financial services market on the back of evolving customer behavior.The search giant’s initiative of integrating Google Wallet and Android Pay under one umbrella, Google Pay, remains a major positive. Robust peer-to-peer payment service and reward system offered by Google Pay is aiding the search giant’s momentum across the underbanked and banking customer.Further, Google recently announced the integration with PayPal by which Google Pay users can access their PayPal account as a check-out option. The latest integration enables Google Pay users to switch between their saved payments methods, now including PayPal, apart from debit and credit cards and other options.Furthermore, Google’s growing global footprint is a major catalyst. The company has partnership with four banks of India namely Kotak Mahindra Bank, HDFC Bank, ICICI Bank and Federal Bank and aims at offering instant and pre-approved customer loans via Google Pay, consequently providing digital lending services.Additionally, the company recently introduced the long-awaited gold financial service via Google Pay. Google has teamed up with bullion refiner, MMTC-PAMP, for the same.Google parent Alphabet currently has a Zacks Rank #3 (Hold).Meanwhile, Apple is gaining traction on the back of its well-performing digital wallet, Apple Pay, which has recently expanded to the Netherlands and all set to make its way to Slovakia this month only.Additionally, the iPhone maker carrying the Zacks Rank #3 has launched a kind of credit card called Apple Card in collaboration with Goldman Sachs and MasterCard. Notably, the card gives 2 percent cash back on Apple Pay transactions and 3 percent on direct Apple purchases. There is no teaser rate and users don’t need pay late, fees, annual charge of international fees.Further, Facebook is delving deeper into the banking and finance sector aided by its blockchain tools. The social media giant is gearing up to roll out fiat-backed cryptocurrency, Facebook Libra, which can be stored in digital wallets and be utilized to transfer funds or make purchases anywhere in the world.Facebook’s Libra is expected to hurt revenues of the banking companies due to lower fees.Meanwhile, this Zacks Rank #3 stock continues to gain traction in the digital payments market with the expanding user base of Facebook Messenger.Additionally, Amazon offers Amazon Pay, Amazon Cash and Amazon Lending, all of which have gained solid momentum across the underbanked customers as these services provides financial inclusion to the ones without bank accounts.Further, Amazon which carries a Zacks Rank #3 is in talks with J.P. Morgan Chase in order to create a checking account. Further, it introduced a digital financial advisor called Cora by utilizing its AR/VR techniques.Recently, Amazon unveiled a new credit card namely Amazon Credit Builder in a bid to serve the customers with bad credit score.Where Does Square & PayPal Stand?Square which carries a Zacks Rank #2 (Buy) has re-applied for special industrial loan company license (ILC) with Federal Deposit Insurance Corp (FDIC). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Notably, approval of the company’s application will provide it a bank licence which in turn will aid it in penetrating the potential banking sector. This will aid the company in serving the small and underserved businesses by providing them deposit accounts and business loans.Further, PayPal’s robust Venmo and checkout services of One Touch are bolstering its presence in the payment industry. Notably, PayPal carries a Zacks Rank #3.ConclusionPer Accenture estimates, “more than a third of the world’s adult population make little or no use of formal financial services.” Bringing them within the financial infrastructure can yield revenues worth $380 billion. This presents significant growth opportunities for the technology companies in the long haul.Moreover, endeavors of technology companies to address the needs of the underbanked poses serious threat to the banking sector in the long haul.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportFacebook, Inc. (FB) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportPayPal Holdings, Inc. (PYPL) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportApple Inc. (AAPL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
SpaceX Launched a Massive Rocket With 24 Satellites On Board
CAPE CANAVERAL, Fla. — SpaceX launched its heftiest rocket with 24 research satellites Tuesday, a middle-of-the-night rideshare featuring a deep space atomic clock, solar sail, a clean and green rocket fuel testbed, and even human ashes. It was the third flight of a Falcon Heavy rocket, but the first ordered by the military. The Defense Department mission, dubbed STP-2 for Space Test Program, is expected to provide data to certify the Falcon Heavy — and reused boosters — for future national security launches. It marked the military’s first ride on a recycled rocket. Both side boosters landed back at Cape Canaveral several minutes after liftoff, just as they did after launching in April. But the new core booster missed an ocean platform, not unexpected for this especially difficult mission, SpaceX noted. NASA signed up for a spot on the rocket, along with the National Oceanic and Atmospheric Administration, the Air Force Research Laboratory, the Planetary Society and Celestis Inc., which offers memorial flights into space. An astronaut who flew on NASA’s first space station back in the 1970s, Skylab’s Bill Pogue, had a bit of his ashes on board, along with more than 150 other deceased people. Pogue died in 2014. SpaceX said the mission was one of its most challenging launches. The satellites needed to be placed in three different orbits, requiring multiple upper-stage engine firings. It was going to take several hours to release them all. The Deep Space Atomic Clock by NASA’s Jet Propulsion Laboratory is a technology demo aimed at self-flying spacecraft. Barely the size of a toaster oven, the clock is meant to help spacecraft navigate by themselves when far from Earth. NASA also was testing a clean and green alternative to toxic rocket and satellite fuel. The Planetary Society’s LightSail crowd-funded spacecraft will attempt to become the first orbiting spacecraft to be propelled solely by sunlight. It’s the society’s third crack at solar sailing: The first was lost in a Russian rocket failure in 2005, while the second had a successful test flight in 2015. Story continues “Hey @elonmusk et al, thanks for the ride!,” tweeted Bill Nye, the society’s chief executive officer. The Air Force Research Laboratory had space weather experiments aboard, while NOAA had six small atmospheric experimental satellites for weather forecasting. The Falcon Heavy is the most powerful rocket in use today. Each first-stage booster has nine engines, for a total of 27 firing simultaneously at liftoff from NASA’s Kennedy Space Center. The first Falcon Heavy launch was in February 2018. That test flight put SpaceX founder Musk’s red Tesla convertible into an orbit stretching past Mars. |
SpaceX successfully catches Falcon Heavy rocket nose cone for first time
SpaceX has managed to recover the nose cone — or fairing — of its powerful Falcon Heavy rocket, after a year and a half of trial and error. The company was able to accomplish the feat using a giant net hoisted up behind a high speed boat, which dashed to catch the large piece of rocket that is designed to protect a rocket’s payload upon launch. Once the rocket begins to enter space, the nose cone breaks into two parts, and both of those fall to the earth. Capturing the large piece of rocket before it is damaged by salt water means that SpaceX can possibly use the equipment again in a launch — and therefore save a lot of money. “Imagine you had $6m in cash in a palette flying through the air, and it’s going to smash into the ocean,” Elon Musk , the company’s CEO, said last year during a press conference while discussing the effort to recover the nose cone. “Would you try to recover that? Yes. Yes, you would.” The efforts to catch the fairing began early last year, and includes the use of a huge net propped up on a boat named Ms Tree, formerly Mr Steven. One of Mr. Steven’s final West Coast fairing recovery tests before shipping out for the East Coast. Wait for it… pic.twitter.com/A7q37Gpllu — SpaceX (@SpaceX) January 30, 2019 View comments |
Did Changing Sentiment Drive Pattern Energy Group's (NASDAQ:PEGI) Share Price Down By 31%?
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The main aim of stock picking is to find the market-beating stocks. But the main game is to find enough winners to more than offset the losers At this point some shareholders may be questioning their investment inPattern Energy Group Inc.(NASDAQ:PEGI), since the last five years saw the share price fall 31%. The good news is that the stock is up 1.6% in the last week.
View our latest analysis for Pattern Energy Group
Pattern Energy Group isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. Shareholders of unprofitable companies usually expect strong revenue growth. As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.
Over five years, Pattern Energy Group grew its revenue at 16% per year. That's better than most loss-making companies. The share price drop of 7.2% per year over five years would be considered let down. So you might argue the Pattern Energy Group should get more credit for its rather impressive revenue growth over the period. So now is probably an apt time to look closer at the stock, if you think it has potential.
Depicted in the graphic below, you'll see revenue and earnings over time. If you want more detail, you can click on the chart itself.
It's probably worth noting that the CEO is paid less than the median at similar sized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. So we recommend checking out thisfreereport showing consensus forecasts
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Pattern Energy Group, it has a TSR of -3.2% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
It's nice to see that Pattern Energy Group shareholders have received a total shareholder return of 32% over the last year. And that does include the dividend. Notably the five-year annualised TSR loss of 0.6% per year compares very unfavourably with the recent share price performance. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. Most investors take the time to check the data on insider transactions. You canclick here to see if insiders have been buying or selling.
Of coursePattern Energy Group may not be the best stock to buy. So you may wish to see thisfreecollection of growth stocks.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US 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. |
Guidewire's (GWRE) InsurancePlatform Adopted by Amica Mutual
Guidewire Software, Inc.GWRE recently announced that Amica Mutual Insurance Company will deploy the company’s InsurancePlatform as a Software-as-a-Service (SaaS) offering via Guidewire Cloud to enhance customer experience.
Lincoln, RI-based Amica is the oldest mutual insurer of automobiles in the United States. The company, which has been operational for more than a century, ranks among the top 25 providers of automobile and home insurance products.
Per the agreement, Amica Mutual will leverage Guidewire’ InsurancePlatform via Guidewire Cloud to manage insurance operations including policies and billing. Amica Mutual stands to gain from Guidewire’ InsurancePlatform and have a better knowledge about the insurance industry, following its transfer to Guidewire Cloud.
Notably, InsurancePlatform is a P&C industry platform which is deployed through Guidewire Cloud combining software, services, and partner ecosystem to customer business. The solution aids in risk reduction via increased productivity, bringing speed to market, digital engagement and simplifying IT infrastructure. The solution is designed to benefit insurers with streamlined claims management processes, which in turn enables them to bolster operational efficiencies.
Notably, increasing adoption of technologies like artificial intelligence, robotic process automation, cognitive intelligence or blockchain calls for a best-in-class technology to address customer needs. Guidewire’s InsurancePlatform solution will aid Amica Mutual’s customer-centric business model to improve insurance processes.
With the synergies of the recently selected offerings and access to Guidewire’s Marketplace, Amica Mutual anticipates providing innovative solutions and adapt to changing market demands. We believe that rapid adoption of Guidewire’s solutions will aid the company in bolstering subscription revenues, consequently enabling it to expand total addressable market or TAM.
Share Price Movement
Shares of Guidewire have returned approximately 11.6% in the past year, substantially outperforming the industry’s rally of 2.2%.
The outperformance can primarily be attributed to sturdy adoption of several cloud-based products. According to Gartner, the global SaaS market is anticipated to witness a CAGR of 17.8% from $58.8 billion in 2017 to reach $113.1 billion in 2021. The report favors the company’s growth prospects and reinforces optimism in the stock.
Product Adoption: Key Catalysts
The company’s growing clout in the P&C core platform market is evident from market research firm Gartner’s October 2018 “Magic Quadrant for P&C Core Platforms, North America” report where it put Guidewire’s InsuranceSuite offering in the “Leaders” quadrant.
Further, the company’s elaborate partnership programs and strategic collaborations remain a key catalyst. Notably, Guidewire’s Partner Connect Program has been implemented worldwide, benefiting customers in the property and casualty insurance industry.
Moreover, Guidewire’s cloud deployment partner, Amazon Web Services (AWS) is also gaining momentum, which is a positive.
The company was recently selected by Optimum General Inc. and Grinnell Mutual. Further, the company announced that South Africa-based insurer Santam will deploy its ClaimCenter offering across personal and commercial business domains.
Moreover, management is extremely optimistic regarding several cloud-based products launched recently, at a time when the P&C insurance industry is moving steadily toward the adoption of cloud solutions.
Zacks Rank and Stocks to Consider
Guidewire carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Match Group, Inc. MTCH, Universal Display Corporation OLED and Autohome Inc. ATHM, each flaunting a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Match Group, Universal Display and Autohome have a long-term earnings growth rate of 15.2%, 30% and 20.9%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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 reportAutohome Inc. (ATHM) : Free Stock Analysis ReportMatch Group, Inc. (MTCH) : Free Stock Analysis ReportGuidewire Software, Inc. (GWRE) : Free Stock Analysis ReportUniversal Display Corporation (OLED) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Missing University of Utah Student Last Seen Meeting Someone in a Park By Her Lyft Driver, Police Say
A missing University of Utah student was last seen by a Lyft driver meeting someone in a car in a park, Salt Lake City police said Monday. Mackenzie Lueck, a 23 year-old senior at the university, arrived at Salt Lake City International Airport around 1 a.m. on June 17 after flying back from visiting family for a funeral in California, Assistant Police Chief Tim Doubt said during a press conference . Lueck then texted her parents to let them know she had landed and took a Lyft to Hatch Park in North Salt Lake City, arriving there at 2:59 a.m., he added. The park is about an 8-mile drive from her home in the city, according to The Washington Post. Police interviewed the Lyft driver and learned that “an individual in a vehicle” met Lueck after she was dropped off, Doubt said. “The Lyft driver left Mackenzie at the park with that person and stated that Mackenzie did not appear to be in any kind of distress.” Lyft told CBS News in a statement that it is “actively assisting law enforcement with their investigation.” There were no irrregularities in Lueck’s Lyft ride and her driver immediately began picking up other customers after dropping her off, the company added. Lyft did not immediately return a request for comment from TIME. Lueck’s parents reported her missing to police on June 20 after she missed a mid-term exam and a flight to Los Angeles, Doubt said. She is studying kinesiology, according to the Salt Lake Tribune and a friend told the paper she had also missed classes and her job at a local medical lab. Doubt said police could not yet confirm the make and model of the car that met Lueck or any details about the person inside. Detectives have been trying to contact Lueck but her phone has been turned off, Doubt said. Police are interviewing her family and friends and monitoring social media. “At this time there is no evidence that any harm has come to her,” he said. But, he added, “the circumstances of her just going off the grid [are] concerning to us. “Mackenzie, we are asking you to please reach out to the Salt Lake City Police Department or a law enforcement agency where you are at,” Doubt said. “We just want to make sure you are safe and we will respect your wishes.” View comments |
Will L Brands' Revival Plans Help to Keep the Stock Afloat?
L Brands, Inc. LB is leaving no stone unturned to get back on track. In this regard, the company’s sustained focus on cost containment, inventory management, merchandise and speed-to-market initiatives bode well. Furthermore, the company’s focus on tapping international markets is likely to provide long-term growth opportunities and generate increased sales volumes. Management is committed to improve Victoria’s Secret’s performance in North America.Buoyed by such well-chalked efforts, this specialty retailer of women’s intimate and other apparel, beauty and personal care products, home fragrance products and accessories retained its positive earnings surprise history in the first quarter of fiscal 2019 as well. We note that impressive performance at Bath & Body Works brand aided the quarterly results. In fact, this brand has been touted as the knight in shining armor. During the quarter, Bath & Body Works sales improved 15% to $870.7 million, with 13% rise in comparable sales and 7% in comparable store sales. Sales were fueled by robust performance in the three key categories — body care, home fragrance, and soaps & sanitizers.Per sources, the brand has also impressed customers by bringing in new products to the shelves such as bath bombs and face masks, among others. With growing popularity of organic skincare among women mostly, the company opened 14 Bath & Body Works stores during the quarter. Going ahead, management expects the positive momentum to continue and aid the company’s top line.That said, there’s more to the story as L Brands’ fate depends on the recovery of its largest brand, Victoria’s Secret. The company focuses on improving Victoria’s Secret’s performance by staying customer focused, enriching assortments, and improving store and online experiences.These apart, the relaunch of swimwear category have given investors a measure of comfort. Also, the CEO of Victoria Secret’s lingerie, John Mehas, has revealed plans of revamping marketing and pricing strategies along with remodeling stores. In a bid to focus on its core brands, L Brands have off-loaded La Senza, its luxury lingerie brand, and announced plans to close operations at luxury fashion accessories store, Henri Bendel.We note that the stock has lost 6.4% in the past six months compared with the industry’s decline of 12.9%. Hence, this Zacks Rank #2 (Buy) company have certainly showed modest signs of progress. Additionally, management lifted the lower end of fiscal 2019 earnings view range. It now envisions fiscal 2019 earnings of $2.30-$2.60 per share compared with $2.20-$2.60 previously anticipated.
All said, L Brands is expected to regain its lost glory with these measures.Check Out These Solid PickChildren’s Place PLCE has long-term earnings growth rate of 8% and a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Genesco GCO has long-term earnings growth rate of 5% and a Zacks Rank #1.Kering SA PPRUY has long-term earnings growth rate of 10% and a Zacks Rank #2.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
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 reportL Brands, Inc. (LB) : Free Stock Analysis ReportChildren's Place, Inc. (The) (PLCE) : Free Stock Analysis ReportKering SA (PPRUY) : Free Stock Analysis ReportGenesco Inc. (GCO) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
3 Dividend Stocks Ideal for Retirees
The beauty of dividend stocks is the simplicity of getting paid just to own part of a business. Of course, investors can't just seek out the highest yields and hit the martini bar. The cash distributions made by any business should be supported by a strong balance sheet, healthy cash flow, and intelligent capital investments.
While that set of criteria swipes most double-digit yields off the list of great dividend stocks, investors can still find solid businesses generously returning cash to shareholders in a retirement-friendly manner. We recently asked three contributors at The Motley Fool for their best income stocks for retirees. Here's why they choseWestRock(NYSE: WRK),ONEOK(NYSE: OKE), andTJX Companies(NYSE: TJX).
Image source: Getty Images.
Maxx Chatsko(WestRock):Not only does WestRock pay a market-beating 5% dividend yield, but its shares are also trading at just 0.81 times book value. That means the stock would have to rise 23% to be fairly valued. The pulp and paper leader's shares sport aPEG ratioof 0.82 and trade at just 9 times future earnings to boot.
Why are shares so depressed? Wall Street has remained cautious out of fears the trade war between the United States and China will weigh on the business, but that simply hasn't happened yet. While China has been a driving force behind record demand and prices in corrugated paper (read: cardboard) in recent years, so have domestic trends such as rising e-commerce sales (cardboard demand for shipping boxes has exploded) and an increased interest among consumer-facing companies to ditch plastic packaging for paper alternatives.
Consider that the number of customers purchasing at least $1 million from both of the company's business segments, corrugated packaging and consumer packaging, has increased from 102 at the end of fiscal 2016 to 143 at the end of March 2019. Those customers represented $6 billion in sales in the last 12 months, or roughly one-third of total revenue. With states from New York to California banning plastic bags and straws, and companies like Starbucks and Walmart committing to the same, the trend is likely to continue -- and perhaps accelerate.
Investors can capture that environmentally friendly trend with WestRock, as well as the company's multiyear strategy to boost annualEBITDA. By modernizing infrastructure and retooling factories to churn out the highest-margin and most in-demand products, the business expects to increase annual EBITDA by $150 million by the end of fiscal 2021. Given the company's healthy margins right now and its leadership position in the paper and packaging industry, retirees might find a lot to like in this low-risk dividend stock.
Image source: Getty Images.
Matt DiLallo(ONEOK):Pipeline giant ONEOK checks all the boxes for retirees. For starters, the company pays a well-above-average dividend that currently yields 5.3%. And it backs that payout with a sound financial profile. Not only does it generate stable cash flow since long-term contracts supply about 85% of its earnings, but it also produces enough money to cover its current payout by a comfortable 1.4 times. On top of that, it has a conservative leverage ratio that's currently right in line with its targeted level.
Because ONEOK is producing more cash than it needs to pay the dividend, and it has a strong balance sheet, the company has the financial flexibility to invest in growth projects. Themidstreamgiant currently has about $6 billion of expansions under construction, including several large pipeline projects and associated processing plants. Those future additions have it on track to grow earnings by about 6% this year beforeaccelerating to a more than 20% clip in 2020. That high-octane earnings growth is enough to support ONEOK's plan to increase its dividend at a 9% to 11% annual rate through at least 2021.
ONEOK's combination of dividend yield, financial strength, and visible growth makes it an ideal stock for retirees. It will supply them with a steadily rising income stream while offering low-riskupside potential.
Image source: Getty Images.
Demitri Kalogeropoulos(TJX Companies):Trends change quickly in the retailing world, but one fact stays the same: Consumers are always on the hunt for discounts. That simple idea explains why TJX has been so successful, and why it's just the type of business retirees should love having in their portfolio.
The off-price giant, which owns Marshalls, T.J. Maxx, and HomeGoods, closed its 23rd consecutive year of sales growth in 2018. That positive momentum hascarried through into early 2019. Revenue gains beat management's predictions in the fiscal first quarter, marking a fourth straight beat. Comparable-store sales rose 5% to nearly match the holiday season's 6% spike.
TJX isn't nearly done boosting its store footprint, either. CEO Ernie Herrman has told investors to expect the retailer's base to rise to over 6,000 locations in just its existing markets over time, up from 4,300 today.
All of that success should support a growing dividend that will qualify the company as aDividend Aristocrat(counting at least 25 consecutive annual payout raises) by 2020. Retirees don't have to wait for TJX to officially join that elite club, though, and can buy shares of this highly successful business today.
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Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool recommends ONEOK, The TJX Companies, and WestRock. The Motley Fool has adisclosure policy. |
Man Shot Baby In Head After Child's Mother Rejected Him At Party: Police
A man shot a 10-month-old baby in the head after the child’s mother rejected his advances at a party in California, police said. Marcos Antonio Echartea, 23, was arrested Sunday and charged with three counts of attempted murder. The wounded baby, Fayth Percy, has been hospitalized ever since. “We are hoping and praying that baby Fayth is able to survive this injury as well as make a full recovery,” Fresno Police Chief Jerry Dyer said at a news conference hours after the shooting on Sunday. Police say Deziree Menagh, 18, brought her daughter Fayth to the gathering, where Echartea tried to touch the mother without her consent at least two times. She told police that she had only met Echartea once before. Menagh told police that Echartea first tried to grab her hand but she pulled away. Later, she said, he tried to grab her and pull her into his lap but she resisted again. The teen mother then decided to take her baby and leave the party with a male friend early Sunday morning, police said. The three of them got into a car ― with Menagh in the passenger’s seat and her male friend driving ― and drove about a half a block away, according to police. That’s when police say Echartea approached the vehicle and fired three rounds from a handgun into the driver’s side. One of the bullets pierced the driver’s side window and struck Fayth in the side of the head as Menagh held her in her arms, police said. (Photo: Fresno Police Department) Police received a 911 call about the shooting and nearby officers were able to render first aid to Fayth until paramedics arrived. The baby was then transported to the hospital, where she underwent surgery to remove bullet fragments from her head. Fayth was listed in critical but stable condition as of Sunday, Dyer said at the news conference. Shortly after the shooting, Echartea was detained and identified as the shooter, police said. He was booked into Fresno County Jail and charged with three counts of attempted murder. Story continues Echartea was also wanted for another shooting that occurred a few miles away on May 27. Police say he fired numerous rounds into a house that belonged to his ex-girlfriend’s boyfriend. “In that case, one of the bullets penetrated the walls and nearly struck another 1-year-old who was inside,” Dyer said Sunday. “That bullet landed approximately one foot from where the baby was.” Echartea will also be charged with multiple felony counts related to the May 27 shooting, including assault with a deadly weapon, police said. “Very apparent that Marcos Echartea has no regard for human life ― even a baby,” Dyer said Sunday. “I know the parents [of Fayth] are broken. They’re hurting. ... It tears my heart up to see a baby of that age lying in the hospital.” Love HuffPost? Become a founding member of HuffPost Plus today. This article originally appeared on HuffPost . |
ExxonMobil to Exit Norwegian Offshore Hydrocarbon Fields
Exxon Mobil CorporationXOM is planning to sell the remaining stakes in Norwegian offshore oil and gas fields. The assets, which are up for a possible sale, include interests in 20 producing fields and several license areas.
Notably, in 2017, the company had divested operated assets in the region to private equity-backed Point Resources. Later on, Point Resources merged with Eni Norge, a unit of Italian energy major Eni S.p.A. E, forming Var Energi. Daily production from ExxonMobil’s remaining assets was recorded at 96,000 barrels of oil and 374 million cubic feet of gas in 2018.
ExxonMobil, the largest publicly-traded energy company, intends to open a data room to gauge market interest for its Norwegian offshore oil and gas fields. Per S&P Global Platts, the company is yet to take a decision regarding the potential divestment.
The divestment is expected to enable the Zacks Rank #3 (Hold) firm to focus more on the U.S. Permian Basin, Brazil, Guyana, Mozambique and Papua New Guinea, with plenty of growth prospects. However, the divestment plan excludes the company’s Slagen refinery business. A Norwegian business newspaper expects the value of the offshore assets to be divested within $3-$4 billion. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It seems like major producers are leaving the Norwegian offshore region, as predicted by the CEO of OKEA, Eric Hagane. He told Reuters that major producers will leave the Norwegian Continental Shelf, except Equinor ASA EQNR, in a decade. Resultantly, the assets will be up for grab for smaller independent companies. Other companies that are either exiting the region or scaling down their presence therein include Chevron Corporation CVX, BP plc and Royal Dutch Shell plc.
Price Performance
The company has gained 12.8% year to date compared with 9.4% collective growth of the industry it belongs to.
Looking for Stocks with Skyrocketing Upside?
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Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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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 reportChevron Corporation (CVX) : Free Stock Analysis ReportEni SpA (E) : Free Stock Analysis ReportExxon Mobil Corporation (XOM) : Free Stock Analysis ReportStatoil ASA (EQNR) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
New Strong Buy Stocks for June 25th
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Asbury Automotive Group, Inc. (ABG): This automotive retailer has seen the Zacks Consensus Estimate for its current year earnings increasing 1.2% over the last 60 days. Asbury Automotive Group, Inc. Price and Consensus Asbury Automotive Group, Inc. Price and Consensus Asbury Automotive Group, Inc. price-consensus-chart | Asbury Automotive Group, Inc. Quote Casey's General Stores, Inc . (CASY): This company that operates convenience stores under the Casey's and Casey's General Store names has seen the Zacks Consensus Estimate for its current year earnings increasing almost 7% over the last 60 days. Caseys General Stores, Inc. Price and Consensus Caseys General Stores, Inc. Price and Consensus Caseys General Stores, Inc. price-consensus-chart | Caseys General Stores, Inc. Quote Kelly Services, Inc . (KELYA): This company that provides workforce solutions has seen the Zacks Consensus Estimate for its current year earnings increasing 4.3% over the last 60 days. Kelly Services, Inc. Price and Consensus Kelly Services, Inc. Price and Consensus Kelly Services, Inc. price-consensus-chart | Kelly Services, Inc. Quote Sanmina Corporation (SANM): This company that provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services has seen the Zacks Consensus Estimate for its current year earnings increasing 8.7% over the last 60 days. Sanmina Corporation Price and Consensus Sanmina Corporation Price and Consensus Sanmina Corporation price-consensus-chart | Sanmina Corporation Quote Xcel Brands, Inc . (XELB): This consumer products company has seen the Zacks Consensus Estimate for its current year earnings increasing 29% over the last 60 days. Xcel Brands, Inc Price and Consensus Xcel Brands, Inc Price and Consensus Xcel Brands, Inc price-consensus-chart | Xcel Brands, Inc Quote You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Story continues Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> 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 Xcel Brands, Inc (XELB) : Free Stock Analysis Report Sanmina Corporation (SANM) : Free Stock Analysis Report Kelly Services, Inc. (KELYA) : Free Stock Analysis Report Caseys General Stores, Inc. (CASY) : Free Stock Analysis Report Asbury Automotive Group, Inc. (ABG) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
China Considers Blacklisting FedEx After Huawei Delivery Errors
(Bloomberg) -- China is considering adding FedEx Corp. to a list of so-called unreliable entities, people familiar with the matter said, a move that would escalate tensions with the U.S.
Authorities in China have almost completed the preparations that would be needed to blacklist FedEx, the people said, declining to be named because the information hasn’t been made public. A final decision would be made by senior Chinese leaders, the people said.
China’s Commerce Ministry announced the creation of the list in late May to target firms that the government says damage the interests of domestic companies. That followed U.S. curbs on Huawei Technologies Co. FedEx drew the ire of Chinese officials after Huawei said that documents it asked to be shipped from Japan to China were instead diverted to the U.S. without authorization.
The ministry didn’t respond to a request for comment, and the Foreign Ministry declined on Monday to comment on whether FedEx would be placed on the list.
“We hope we satisfied them that this wasn’t any nefarious activity on our part,” FedEx Chief Executive Officer Fred Smith said on Fox News. “It was just a well-intentioned FedEx teammate that made an error. We’ll just have to wait and see.”
The shares fell 1.9% to $157.86 at 9:44 a.m. Tuesday in New York. FedEx was little changed this year through Monday, while the S&P 500 climbed 17%.
U.S. President Donald Trump and China’s Xi Jinping are scheduled to resume talks later this week at the G-20 summit in Osaka, Japan, with no signs their tit-for-tat trade war will end any time soon. Blacklisting Memphis, Tennessee-based FedEx could have a significant impact on its business in China. The Commerce Ministry has yet to release details about the consequences of being added to the unreliable entities list.
FedEx in September said that package deliveries between the U.S. and China represent 2% of total sales, which would be about $1.3 billion based on 2018 revenue. The company, which doesn’t typically break out sales by country, hasn’t given an amount for its entire China business.
China’s Global Times newspaper tweeted on Sunday about the likely blacklisting.
FedEx apologized last month for delivery mistakes on the two diverted Huawei packages.
The company is suing the U.S. Commerce Department to block enforcement of tougher restrictions on exports and imports, saying the curbs force it “to police the contents” of millions of packages.
The global courier, scheduled to report quarterly earnings Tuesday afternoon, says it’s being made to choose between operating under the threat of U.S. punishment and facing potential legal trouble from customers and foreign governments.
(Updates with FedEx U.S.-China sales in eighth paragraph.)
--With assistance from Yan Zhang and Miao Han.
To contact Bloomberg News staff for this story: Steven Yang in Beijing at kyang74@bloomberg.net
To contact the editors responsible for this story: Ville Heiskanen at vheiskanen@bloomberg.net, Tony Robinson
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
Cody Bellinger wants fans to stop running on the field to hug him
Cody Bellinger has one simple request for fans: stop trying to hug him. The Los Angeles Dodgers right fielder isn’t against hugging. He just doesn’t want to be hugged at a very important time during his day: when he’s on the field. Bellinger spoke out on Monday night after the Dodgers’ 8-5 loss to the Arizona Diamondbacks . A fan ran on the field to hug him for the second straight game, and he wants it to stop. "I’m just trying to play a game. I don’t think I should have to worry about who’s gonna come on the field and whatnot,” Bellinger told Pedro Moura of The Athletic. “I think it could be dangerous, although it’s innocent right now." The fan who jumped onto the field on Sunday at Dodgers Stadium was a 15-year-old girl named Paola, who took a “once in a lifetime” chance to hug her favorite baseball player. The trend continued on Monday at Chase Field in Phoenix when another woman rushed the field seeking an interaction with Bellinger. pic.twitter.com/Nyh3gTpsvK — lol (@winnnforvinnn) June 25, 2019 "I had a feeling that she was harmless,” Bellinger told the Arizona Republic. “She came around with a phone again. Like I said, it could potentially get dangerous especially if it keeps getting blown up like it is." Bellinger’s right. The popularity of the first hugger most likely inspired the second one, and he’s lucky that the intentions of both were so innocent. The fans were also lucky that security only tackled them to the ground. One of the most famous incidents of a fan invading the field happened at Citizens Bank Park in 2010, when a guy ran onto the field and was tased after leading security on a short chase around the outfield. That incident sparked a debate about whether that kind of force (a taser) is necessary in those kinds of situations. And if fans keep running onto the field, it’s a debate that could be revisited. But this could all be avoided if fans stay where they belong: in the stands, respecting the rules of the stadium and the personal space of the players. Story continues Two fans have now tried to hug Cody Bellinger on the field during games, and he's worried it could become a trend. (Photo by Harry How/Getty Images) More from Yahoo Sports: Sources: Kawhi to become free agent; Raptors favorite Paul denies trade request: ‘Happy’ to stay in Houston After profane tirade, Mets have to fire manager Callaway France beats Brazil, keeps possibility of dream QF alive |
Gold Prices Trending Above $1,400: Will the Rally Sustain?
Gold prices is currently trending above $1,400 an ounce — at levels last seen in 2013, fueled by safe haven demand triggered by uncertainty over the U.S.-China standoff and geopolitical uncertainties. Further, a weaker greenback and slumping bond yields fueled gold prices. So far this year gold prices have gained 10.6%. The yellow metal had witnessed a drop of 2.1% in prices in 2018.The dollar has slumped with the Federal Reserve signaling possible rate cuts of as much as half a percentage point later this year. The 10-year Treasury yieldhas also declined to 2% — the lowest level since 2016. Lower interest rates decrease the opportunity cost of holding non-yielding gold and weigh on the dollar, making gold cheaper for investors holding other currencies.The prolonged trade war between the United States and China already has traders and investors on tenterhooks this year. Low expectations of a decisive breakthrough for talks between President Trump and Xi Jinping at the upcoming G20 Summit in Osaka, has also bolstered gold prices. The ongoing US-Iran tension also boosted safe haven demand for gold. Further, Trump announced new hard-hitting economic sanctions on Iraq in response to the shooting down of a U.S. Navy surveillance drone over the Strait of Hormuz.Total non-farm payroll employment expanded by just 75,000 in May much lower than the consensus of 185,000. Further, per payroll processor ADP’s latest employment report, U.S private employers hired 27,000 people in May 2019 — marking the lowest growth in more than nine years. The figure fell way short of consensus forecast of job growth of 185,000. In April, private-sector employment increased by 275,000. This adds to concerns that the Federal Reserve will cut interest rates this year which is conducive to gold prices.Gold Industry Performance
The Gold Mining industry has rallied 29.0% so far this year compared with the S&P 500’s growth of 16.4%. Going by the EV/EBITDA multiple (a preferred valuation metric for mining companies that have high capital expenditures), the gold mining industry has a trailing 12-month EV/EBITDA multiple of 9.3, much lower than the S&P 500’s EV/EBITDA multiple of 11.3.
The prospects of a dwindling supply looms large on the gold-mining industry. Meanwhile, demand will remain strong with India and China acting as the major drivers. In the last decade, combined demand for gold from India and China has soared 71%. The expanding middle class combined with broader economic growth will have a significant impact on gold demand. The second half of the year is seasonally stronger in India due to wedding and festive seasons. The combination of lower mined gold supply and higher demand and geopolitical tensions could eventually drive the prices north, which bodes well for gold-miners.We suggest four gold-mining stocks that have a Zacks Rank of #1 (Strong Buy) or 2 (Buy) and have outperformed the industry. You can seethe complete list of today’s Zacks #1 Rank stocks here.AngloGold Ashanti LimitedAU: This Johannesburg, South Africa-based company sports a Zacks Rank #1. The Zacks Consensus Estimate for earnings has moved up 35% over the past 90 days, indicating year-over-year growth of 90.57%. The company has a long term estimated earnings growth rate of 19.44%. The stock has gained 41.5% year-to-date, outperforming the industry’s rally of 29%.Vista Gold CorporationVGZ: Shares of this Littleton, CO-based company have gained 54.2% year-to-date, ahead of the industry’s growth of 29%. The stock currently carries a Zacks Rank #2. The Zacks Consensus Estimate for earnings for fiscal 2019 has gone up 10% over the past 90 days.Franco-Nevada CorporationFNV: The Zacks Consensus Estimate for earnings for this Toronto, Canada-based company suggests year-over-year growth of 11.97%. Further, the estimate has moved north 8% over the past 90 days. The company has an average positive earnings surprise history of 6.38% over the trailing four quarters. The company has a long-term estimated earnings growth rate of 4% and a Zacks Rank #2.Gold Fields LimitedGFI: This Sandton, South Africa-based company currently carries a Zacks Rank #2. The Zacks Consensus Estimate for fiscal 2019 has gone up 200% over the past 90 days. The stock has surged 59.6% year-to-date, outperforming the industry’s rally of 29%.Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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 reportFranco-Nevada Corporation (FNV) : Free Stock Analysis ReportGold Fields Limited (GFI) : Free Stock Analysis ReportVista Gold Corporation (VGZ) : Free Stock Analysis ReportAngloGold Ashanti Limited (AU) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
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