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Istanbul’s Rebuke of Erdogan Shows That Democracy Lives In March, Turkish opposition candidate Ekrem Imamoglu defeated Binali Yildirim , the candidate of President Recep Tayyip Erdogan’s Justice and Development Party, by about 13,000 votes to claim victory in the race to become Istanbul’s mayor. The exceptionally narrow margin in a city of 15 million people gave Erdogan cover to demand an election rerun . On June 23, Istanbul voted again, and Imamoglu won again–this time by about 800,000 votes. It was a stunning rebuke for Erdogan, himself once Istanbul’s mayor, and a clear signal that many in Turkey’s largest city are fed up with the man who has dominated the country since 2003. In the process, voters have proved once again that while Erdogan may continue to reach for Putin-like powers, Turkey is not Russia. It’s a legitimate multiparty democracy with genuinely contested elections. After triggering the second vote, the President campaigned vigorously for his party’s candidate and used his government’s tight grip on Turkey’s media to ensure favorable coverage. Despite that advantage, his demand for a do-over transformed a loss by 0.16% of the vote into a 9-percentage-point blowout. Given that margin, Erdogan had little choice except to publicly acknowledge the result, but he’s unlikely to truly accept such a stinging political defeat. Over many years in power, he has demonstrated an instinct for responding to political setbacks with a more emphatic power grab . In this case, he’s likely to use the courts to strip powers from Istanbul’s mayor’s office and shift them to the central government. With a weak economy and contentious relations with the U.S., Erdogan is likely to double down on his confrontational nationalist agenda. His greatest vulnerability comes from Turkey’s feeble economy. During his first years in power, Erdogan earned credit for good economic times. Emboldened by this success, his party promised in 2012 that Turkey’s per capita income would climb to $25,000 by 2023. The IMF estimates that 2018 per capita income stood at about $8,700. Turkey’s gap between rich and poor is one of the widest in the world. Story continues Erdogan will face two major potential challenges in coming months. First, an emboldened opposition and an assertive President may bring large numbers of protesters into the streets of Istanbul and other Turkish cities, particularly if Erdogan is seen as interfering with the city’s government. In 2013, a demonstration that began with a few people protesting urban overdevelopment led to an Erdogan-ordered crackdown that resulted in injuries and deaths. Those Gezi Park protests became a national phenomenon, involving as many as 2.5 million people across 79 of the country’s 81 provinces. Six years later, the conditions for a repeat of large-scale unrest–urban residents infuriated with an aggressive leader–remain. Erdogan’s more immediate worry comes from political challenges within his own party. The election embarrassment in Istanbul will encourage former Prime Minister Ahmet Davutoglu and former Deputy Prime Minister Ali Babacan to establish new political parties of their own, giving disillusioned supporters new options. Thanks in part to support from former President Abdullah Gul, Babacan is the candidate most likely to draw votes away from Erdogan. Recep Tayyip Erdogan has proved himself over 16 years in power to be one of the world’s most resilient and resourceful politicians, but now he is about to be truly tested–and Turkey with him.
Such Is Life: How Graphene 3D Lab (CVE:GGG) Shareholders Saw Their Shares Drop 61% Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you love investing in stocks you're bound to buy some losers. But the last three years have been particularly tough on longer termGraphene 3D Lab Inc.(CVE:GGG) shareholders. Sadly for them, the share price is down 61% in that time. The more recent news is of little comfort, with the share price down 46% in a year. Unfortunately the share price momentum is still quite negative, with prices down 12% in thirty days. View our latest analysis for Graphene 3D Lab With just US$969,667 worth of revenue in twelve months, we don't think the market considers Graphene 3D Lab to have proven its business plan. This state of affairs suggests that venture capitalists won't provide funds on attractive terms. As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. Investors will be hoping that Graphene 3D Lab can make progress and gain better traction for the business, before it runs low on cash. We think companies that have neither significant revenues nor profits are pretty high risk. You should be aware that there is always a chance that this sort of company will need to issue more shares to raise money to continue pursuing its business plan. While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized). Some Graphene 3D Lab investors have already had a taste of the bitterness stocks like this can leave in the mouth. Graphene 3D Lab had liabilities exceeding cash by US$177,227 when it last reported in February 2019, according to our data. That makes it extremely high risk, in our view. But since the share price has dived -27% per year, over 3 years, it looks like some investors think it's time to abandon ship, so to speak. You can click on the image below to see (in greater detail) how Graphene 3D Lab's cash levels have changed over time. The image below shows how Graphene 3D Lab's balance sheet has changed over time; if you want to see the precise values, simply click on the image. Of course, the truth is that it is hard to value companies without much revenue or profit. What if insiders are ditching the stock hand over fist? I'd like that just about as much as I like to drink milk and fruit juice mixed together. It costs nothing but a moment of your time tosee if we are picking up on any insider selling. The last twelve months weren't great for Graphene 3D Lab shares, which cost holders 46%, while the market wasupabout 1.1%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. The three-year loss of 27% per year isn't as bad as the last twelve months, suggesting that the company has not been able to convince the market it has solved its problems. Although Warren Buffett famously said he likes to 'buy when there is blood on the streets', he also focusses on high quality stocks with solid prospects. If you want to research this stock further, the data on insider buying is an obvious place to start. You canclick here to see who has been buying shares - and the price they paid. Graphene 3D Lab is not the only stock that insiders are buying. For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA 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.
Is Novan, Inc. (NASDAQ:NOVN) A Volatile Stock? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Anyone researching Novan, Inc. (NASDAQ:NOVN) might want to consider the historical volatility of the share price. 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 second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated 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 Novan Given that it has a beta of 1.82, we can surmise that the Novan share price has been fairly sensitive to market volatility (over the last 5 years). If the past is any guide, we would expect that Novan shares will rise quicker than the markets in times of optimism, but fall faster in times of pessimism. Share price volatility is well worth considering, but most long term investors consider the history of revenue and earnings growth to be more important. Take a look at how Novan fares in that regard, below. Novan is a noticeably small company, with a market capitalisation of US$73m. Most companies this size are not always actively traded. It takes less money to influence the share price of a very small company. This may explain the excess volatility implied by this beta value. Beta only tells us that the Novan share price is sensitive to broader market movements. This could indicate that it is a high growth company, or is heavily influenced by sentiment because it is speculative. Alternatively, it could have operating leverage in its business model. Ultimately, beta is an interesting metric, but there's plenty more to learn. In order to fully understand whether NOVN is a good investment for you, we also need to consider important company-specific fundamentals such as Novan’s financial health and performance track record. I highly recommend you dive deeper by considering the following: 1. Future Outlook: What are well-informed industry analysts predicting for NOVN’s future growth? Take a look at ourfree research report of analyst consensusfor NOVN’s outlook. 2. Past Track Record: Has NOVN 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 NOVN's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how NOVN 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.
The U.S. and Iran Are Already at War Online When a U.S. Navy surveillance drone was shot down over the Strait of Hormuz on June 20, the U.S. blamed Iran. The commander of Iran’s Islamic Revolutionary Guard Corps (IRGC) said his country was “ready for war,” and President Donald Trump responded by declaring that Iran had made a “very big mistake.” Around the world, observers worried that the two countries were headed for battle. In a sense, however, they were already at war. Also on June 20, the U.S. military conducted a Trump-approved cyberstrike on Iran-linked computer systems, U.S. officials say; two days later, the Department of Homeland Security reported it had seen a “rise in malicious cyber activity” directed at U.S. industry by hackers with Tehran ties. These were the latest moves in a rapidly escalating cyberconflict that is proving to be a test run in the future of war. Compared with a potential military clash over the drone’s destruction, the little noticed computer skirmish may seem reassuring. But if it was an off-ramp from the highway to airstrikes and invasion, it also posed new dangers of its own. There are no international rules governing digital conflict; tracing attacks is notoriously difficult, and targets can include industry, infrastructure and ordinary citizens. “There is not even an agreed-upon definition of what constitutes a cyber ‘act of war,’ assuming the term itself is still relevant,” former U.S. Director of National Intelligence James Clapper tells TIME. The U.S. has powerful capabilities in this new area. Military hackers and coders at Fort Meade, Md., maintain a long list of potential targets. The command, created in 2009, has played a larger role in war planning since the Trump Administration granted commanders new authority and Congress quietly issued a declaration defining online operations as a traditional military activity. The U.S. military refused to comment on the latest offensive, after Yahoo News first reported that hackers with U.S. Cyber Command had taken aim at computers belonging to a spy group connected to the IRGC. Subsequent reports revealed U.S. attacks on networks belonging to a proxy militia and military missile-launch systems. But Iranian officials said they failed, and cybersecurity firms say Tehran-linked hackers retaliated by increasing attacks on U.S. networks. Story continues Such attacks have been going on for more than a decade, mostly for espionage. But cyberacts hold potential for physical destruction. It is believed that the U.S. and Israel teamed together on a cyberattack in 2010 that briefly disabled spinning centrifuges at a uranium-enrichment facility in the Iranian city of Natanz, and in 2016, a grand jury in the Southern District of New York indicted an Iranian, Hamid Firoozi, for hacking into the control system of a dam near New York City. A 2018 report by Collin Anderson and Karim Sadjadpour of the Carnegie Endowment for International Peace described the evolving risks, noting “legitimate reasons to be concerned” that Iran is readying for a world in which such actions are part of its wartime toolbox. The U.S. is worried that those preparations are about to pay off. Since it walked away from the 2015 six-nation deal to curb Iran’s nuclear-weapons program, the Trump Administration has continued to ratchet up its “maximum pressure” campaign against Tehran, imposing ever tougher economic sanctions. That, experts like Georgetown University professor Trita Parsi say, prompted Iran’s latest series of attacks on shipping in the Persian Gulf. As the U.S. runs out of economic pressure to apply and Trump balks at the costs of a new military conflict in the Middle East, cyberspace seems like the inevitable next arena of conflict. For now, the costs of cyberwar have gone largely unnoticed. But a series of ransomware attacks, in which hackers lock their victims out of computer networks until they pay up, have stung the U.S. A recent breach cost the city of Baltimore $18 million to regain control of its data, and attacks on institutions such as hospitals, schools and local police endanger public safety. As threats increase, so do efforts to establish rules akin to those governing armed conflict. For years, U.N. officials have worked to establish a sort of cyber–Geneva Convention to protect civilians from state-sponsored cyberattacks. After all, while digital warfare may keep troops safe from combat, shutting down an adversary’s infrastructure or communications could affect hospitals or aid organizations, and not just in the target country. But world powers haven’t yet taken concrete steps toward a comprehensive agreement. Sergio Caltagirone, a vice president at cybersecurity firm Dragos, said that’s unlikely to happen until a catastrophic event forces them to the negotiating table. In the meantime, he says, there’s a greater risk of “harm to civilian lives and livelihoods.” What push there has been for rules and norms–to define acceptable behavior and the types of targets allowed–has so far been stymied by “more aggressive strategies carried out by the world’s powers,” says Peter W. Singer, a co-author of LikeWar, a book on the weaponization of social media. “Until that effort is taken up again, it’s essentially a free-fire zone online.”
Less Than 40% of Credit Card Holders Have Used This Smart Debt Payoff Technique Image source: Getty Images Paying off debt can be a major challenge, especially when you have credit card debt at a high interest rate. The average APR on credit cards is typically around 17% or higher, and some cards have interest rates well above 20%. If you're paying interest because you didn't pay off your balance in full, a good portion of your monthly payment is likely going toward these needless interest charges. The good news is that there's a smart debt payoff technique that could make it much easier topay down credit card debt. The bad news is that a recent Ascent study onAmericans' credit card preferencesshows that the majority of Americans have never used this technique. So what's this debt repayment technique so many cardholders are sleeping on? The balance transfer. The Ascent found only 38% of survey respondents had consolidated credit card debt with a balance transfer. About half of baby boomers reported having transferred a balance versus one-third of millennials. Balance transfers involve transferring the balance from one or morecredit cardsto a new card that carries a 0% interest rate for the first several months. Thebest balance transfer cardscharge no fees for transferring a balance. No credit card is interest-free forever, though; once the promotional period ends, the interest rate will spike to the double digits. Say you owe $3,000 on a card that's charging you 17% interest, and you've been paying $200 a month toward it. If you were to transfer that balance to a card that charges zero interest for the first 15 months and continue paying $200 a month, then you'd have that debt entirely paid off within the promotional periodandsave $400 in interest. You'd save so much because every dollar of your payment would go toward paying off your balance, rather than enriching your creditor through interest charges. If you'd like to save on interest and make debt payoff easier, you may want to join the minority of Americans who have used a balance transfer. But you need to be smart about the process. First and foremost, you need to find a good balance transfer card. Some cards don't offer 0% promotional rates or offer them only for a very short period, and some cards charge a fee for transferring a balance. Avoid these cards. And be sure to pick a card that you can qualify for based on your credit and that doesn't charge an annual fee, which could reduce your savings. Ideally, your monthly payments will be large enough to pay off the balance in full by the time the 0% rate expires. Otherwise, your interest costs could spike again. You could always try to transfer the amount that remains to a new balance transfer card, but there's no guarantee this will work. If you can't pay off the balance by the time the promotional rate expires, you may still achieve some savings by going such a long time without paying interest. It all depends on how large the remaining balance is and how the standard interest rate on the balance transfer card compares with the rate on your current debt. If you'll still have a ton to pay back after the promotional rate expires, you may be better off considering apersonal loanto pay off credit card debt instead. Personal loans usually have a longer repayment period than the 0% promotional period for balance transfers, and the interest rate during the whole payoff period is typically lower than credit card rates -- although it's not 0%. If you do opt to transfer a balance -- or to refinance with a personal loan -- you also need to make certain you don't charge up the cards you've transferred the balance from. Otherwise you'll only end up deeper in debt, because you'll have the balance transfer card or loanplusa new balance on your cards to pay. If you owe credit card debt, consider joining the minority of Americans who have used a balance transfer to pay off what they owe. If you can be responsible with debt payoff and won't charge up your existing cards again after freeing up your line of credit, a balance transfer can be a powerful money-saving tool. The Motley Fool owns and recommends MasterCard and Visa, and recommends American Express. We’re firm believers in the Golden Rule. If we wouldn’t recommend an offer to a close family member, we wouldn’t recommend it on The Ascent either. Our number one goal is helping people find the best offers to improve their finances. That is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
3 Stocks to Buy and Hold for Decades You might be shocked to hear that the average tenure of companies in theS&P 500will shrink from 33 years to an estimated 12 years as soon as 2027. That's simply because technology and disruption have accelerated in recent decades, shrinking the life span of many companies. That's why picking stocks that will be doing the disrupting in the decades ahead is increasingly important. Finding those stocks is no easy task, but three Motley Fool contributors have ideas for you to consider:Axon Enterprise(NASDAQ: AAXN),Aptiv PLC(NYSE: APTV), andAdobe Systems(NASDAQ: ADBE). Jeremy Bowman(Axon Enterprise):For generations, law enforcement was a low-tech practice. Officers relied on things like ink fingerprints and Polaroid cameras, lacking the modern, digital tools that have become common in today's world. Today, crime-fighting is much different, and one of the companies most responsible for hastening that shift is Axon Enterprise, the maker of TASER stun guns; body dashboard cameras; and cloud-based, digital evidence-management systems Evidence.com andAxon Records. Axon is the market leader in all three of those categories, creating a potent combination of products and services as law enforcement agencies are increasingly looking to less-than-lethal weapons like TASERs and cameras to monitor officer encounters over concerns and outrage about police shootings and other such incidents. Those products also easily connect to Axon's cloud-based data management system, allowing police departments to easily retrieve and store footage from a body camera or information from a TASER, like when and for how long it was discharged. That combination of products and services has allowed Axon to deliver steady growth and has built a powerful set of competitive advantages and switching costs, as once agencies are up and running with data management systems like Axon Records and Evidence.com, it becomes costly and time-consuming to switch to a different provider. The need for security and law enforcement will never go away, but citizens are demanding greater accountability from police departments after so many deadly shootings. Axon is the market leader in its product categories and offers an unmatched inventory of high-tech tools for law enforcement agencies. With lasting and strong demand for such products, the company should have decades of long-term growth andexpanding profit marginsahead of it. Daniel Miller(Aptiv):Businesses fail every day, and it's no simple task picking stocks that are positioned to thrive over decades. But the following sentence from Aptiv's CEO, Kevin Clark, should be music to investors' ears: "Aptiv is a technology company that will usher in the next generation of active safety, autonomous vehicles, smart cities and connectivity." Image source: Getty Images. Many investors have overlooked Aptiv because its transformation has flown under the radar. Since 2014 the company has exited its hard parts businesses, which had little potential for differentiation and price increases, andspun off its powertrain businessso the company was better able to pursue more lucrative opportunities. Aptiv has since invested in automated driving and data capabilities through acquisitions of Control-Tec in 2015 and nuTonomy in 2017, among others. It's also added a number of accretive acquisitions to improve its scale and portfolio of electrical architecture business. In other words, unbeknownst to many, Aptiv has transformed from a less desirable auto parts supplier into a company focused on driverless vehicle and electrical technology, technologies that will be in high demand in the coming decades. Consider that in 2018, automated driving, connected services, and non-automotive end market (think aero, industrial, etc.) had a total addressable market of $15 billion. Aptiv expects that to jump more than three times, to over $50 billion, by 2025. As Aptiv essentially develops the nervous system of electrical cars and the future products needed for a more connected world, the company is certainly a stock you can hold for decades as thedriverless automotive evolution accelerates. Brian Feroldi(Adobe Systems):Some modern software companies feature recurring revenues, dependent customer bases, sky-high margins, and large growth runways. That makes them ideal places to park long-term capital. One of my favorite software companies to invest in is Adobe Systems. Adobe is best known for its creative products such as Photoshop, Illustrator, Acrobat, and more. Many of these products are considered to be industry standards, used daily by millions of creative professionals. But there's more to Adobe than its creative products. The company has beenbuyingand building new products that have helped it to gain a major foothold in the business analytics market in recent years. Products such as Adobe Marketing Cloud, the Adobe Analytics Cloud, and the Adobe Advertising Cloud enable businesses to create and manage marketing campaigns that helps them to win new customers. When combined, these businesses have enabled Adobe to produce amazing financial results. Revenue is growingby more than 20%, net income is rising, and the business is pumping out free cash flow. Management is using the excess profits to buy back stock and make occasional acquisitions. Wall Street is applauding the prosperity by bidding up the share price toall-time highs. Adobe's stock isn't cheap today -- shares are currently trading for 31 times next year's earnings estimates -- but I believe that it is worthwhile to pay a premium to become a part owner of great growth stocks. With Wall Street currently projecting 22% earnings growth over the next five years, I think this winner can keep on winning. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Brian Feroldiowns shares of Adobe Systems and Axon Enterprise.Daniel Millerhas no position in any of the stocks mentioned.Jeremy Bowmanowns shares of Axon Enterprise. The Motley Fool owns shares of and recommends Axon Enterprise. The Motley Fool recommends Adobe Systems. The Motley Fool has adisclosure policy.
France's Macron to ask Trump to drop some Iran sanctions to help talks TOKYO, June 27 (Reuters) - French President Emmanuel Macron said on Thursday he will try to convince U.S. President Donald Trump to suspend some sanctions on Iran to allow for negotiations to de-escalate the crisis in the region. "I want to convince Trump that it is in his interest to re-open a negotiation process (and) go back on certain sanctions to give negotiations a chance," Macron told reporters on the train from Tokyo to Kyoto. The French leader will meet his U.S. counterpart on the sidelines of the G20 summit this weekend. Macron said the idea would be to begin a discussion and set up the parameters of talks ranging from Iran's nuclear activities to its wider role in the region. "We'd give ourselves a few months," Macron said. (Reporting by Christopher Gallagher; Writing by John Irish; Editing by Richard Lough)
What Kind Of Shareholder Owns Most PrimeWest Mortgage Investment Corporation (CNSX:PRI) Stock? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Every investor in PrimeWest Mortgage Investment Corporation (CNSX:PRI) should be aware of the most powerful shareholder groups. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.' With a market capitalization of CA$1.9m, PrimeWest Mortgage Investment is a small cap stock, so it might not be well known by many institutional investors. Taking a look at our data on the ownership groups (below), it's seems that institutions are not on the share registry. We can zoom in on the different ownership groups, to learn more about PRI. View our latest analysis for PrimeWest Mortgage Investment Small companies that are not very actively traded often lack institutional investors, but it's less common to see large companies without them. There are multiple explanations for why institutions don't own a stock. The most common is that the company is too small relative to fund under management, so the institition does not bother to look closely at the company. Alternatively, there might be something about the company that has kept institutional investors away. PrimeWest Mortgage Investment might not have the sort of past performance institutions are looking for, or perhaps they simply have not studied the business closely. PrimeWest Mortgage Investment is not owned by hedge funds. We're not picking up on any analyst coverage of the stock at the moment, so the company is unlikely to be widely held. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Shareholders would probably be interested to learn that insiders own shares in PrimeWest Mortgage Investment Corporation. It has a market capitalization of just CA$1.9m, and insiders have CA$108k worth of shares, in their own names. It is good to see some investment by insiders, but I usually like to see higher insider holdings. It might be worth checkingif those insiders have been buying. The general public -- mostly retail investors -- own 82% of PrimeWest Mortgage Investment . This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio. We can see that Private Companies own 13%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It's always worth thinking about the different groups who own shares in a company. But to understand PrimeWest Mortgage Investment better, we need to consider many other factors. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. If you would prefer check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, backed by strong financial data. 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.
The U.S. Can Afford to Stay Calm with Iran P resident Trump recently ordered and then called off a retaliatory strike against Iran for destroying a U.S. surveillance drone. The U.S. asserts that the drone was operating in international airspace. Iran claims it was in Iranian airspace. Anti-war critics of Trump’s Jacksonian rhetoric turned on a dime to blast him as a weak, vacillating leader afraid to call Iran to account. Trump supporters countered that the president had shown Iran a final gesture of patience — and cleared the way for a stronger retaliation should Iran foolishly interpret his one-time forbearance as weakness to be exploited rather than as magnanimity to be reciprocated. The charge of Trump’s being an appeaser was strange coming from leftist critics, especially given Trump’s past readiness to bomb Syrian president Bashar al-Assad for allegedly using chemical weapons, his willingness to destroy ISIS through enhanced air strikes, and his liberation of American forces in Afghanistan from prior confining rules of engagement. The truth is that Iran and the United States are now engaged in a great chess match. But the stakes are not those of intellectual gymnastics. The game is no game, but involves the lives, and possible deaths, of thousands. The latest American–Iranian standoff is not like that of 1979–1981, when theocratic revolutionaries removed the Shah, stormed the U.S. embassy in Tehran, and took American hostages for 444 days — and humiliated America. Iran fears there are now no such American liabilities. Forty years later, America has no presence in Iran. It has long since given up on bringing Tehran back into the Western fold. There are no Americans in Iran to be kidnapped, and no Iranian allies inside Iran to be saved. Iran has no leverage over the United States, at least not as it did in 1979. Nor is the current confrontation reminiscent of the 2003–2011 tensions in the region. The United States is not fighting a ground war in the Middle East, much less one on the border of Iran. Story continues The U.S. no longer believes in nation-building the autocratic Middle East into Western-style democracies. American troops are not in jeopardy from Iranian ground attacks. Americans have no financial or psychological capital invested in liberalizing Iraq, much less Iran and its environs. Nor is the situation like the chronic Iranian tensions of the last 40 years, in which an oil-dependent U.S. feared Iran’s closing the Strait of Hormuz, or the sudden cutoff of imported oil, ensuring Nixon-era gas lines. America is now the largest producer of gas and oil in the world, soon to be the largest exporter as well. The U.S. economy is booming. Iran’s is imploding. The economies of China, Japan, and Europe depend on the free flow of Middle Eastern oil. But China is currently in a trade war of nerves with the United States. An appeasing Europe doesn’t have the desire to help ramp up sanctions on Iran to prevent its nuclearization, nor is it eager to accede to U.S. entreaties to increase defense spending and enhance the NATO alliance. Japan is trying to deny Iranian aggression in fear that the global oil market might spike on news of Persian Gulf tensions. In other words, both allies and enemies expect the United States to ensure that their shipping and their oil are safe. Nor are we too concerned for our longtime ally Israel with regard to Iran. An impoverished Iran is bereft of allies and remains an international pariah, desperate to sell its embargoed oil to any rogue autocracy shameless enough to buy it. Israel is nuclear and has never been militarily stronger. It is now self-sufficient in oil and gas. Israel has forged new ties with China, Russia, and the European Union, and renewed its traditionally close relationship with the United States. Iran’s neighbors in the Arab world are either in a mess or clandestinely allied with Israel. The Palestinian Authority and Hamas have never been weaker vis-à-vis Israel. Time is on the American side. Each day Iran grows weaker and poorer, and the U.S. stronger and richer. Iran’s only hope is to draw the Trump administration into a messy Iraq-like ground war, or, at worst, a Balkans-style, months-long bombing campaign — with plenty of CNN footage of civilian collateral damage. How, then, can the U.S. deter Iranian escalation without getting into an unpopular war before the heated 2020 election? It merely needs to persist in the present standoff: Ramp up the sanctions even tighter and ignore pathetic Iranian attacks on foreign ships. If Tehran preemptively attacks an American ship or plane, it will be met by a disproportionate response, preferably one aimed not at civilian infrastructure but at the Iranian military hierarchy, Revolutionary Guard, and theocratic elite. Otherwise, the Trump administration can sit back and monitor Iran’s international ostracism and economic isolation while remaining unpredictable and enigmatic, ready to hit back hard at any attack on Americans but without being suckered into an optional war with Iran in the perennial Middle East quagmire. © 2019 Tribune Content Agency, LLC More from National Review Israel Shows America How to Deal with Iran How to Push Back on Iran It’s Time for an Iran-Deal Reckoning
Democrats debate ‘who is this economy really working for?’: Morning Brief Thursday, June 27, 2019 Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.Subscribe Nike (NKE) will take centerstage Thursday. The shoe giant will release quarterly financial results after the market close on Thursday. Nike is expected to report adjusted earnings of 66 cents per share on $10.16 billion of revenue. In addition, the options market is implying a 5% move in either direction when Nike reports. Other companies scheduled to report Thursday include ConAgra (CAG) and Walgreens Boots Alliance (WBA) ahead of the opening bell. Read more Democrats debate ‘who is this economy really working for?’: Democratic presidential candidates took the stage for their first televised debate Wednesday night in Miami, and for part of the two hours, focused on the millions of Americans who have not been enriched by stock market highs and an economy not boosting all. Right off the bat, the 10 candidates weighed in one of the central issues in the U.S. –income inequality; 10% of the wealthiest households in the U.S. own 60% of the wealth. They also revealed their disagreements over how the health care system should be set up. [Yahoo Finance] China’s Xi to present Trump with trade terms: WSJ: Chinese President Xi Jinping plans to present U.S. President Donald Trump with a set of terms the United States should meet before Beijing is ready to settle their trade dispute, the Wall Street Journal reported on Thursday. [Reuters] Zuckerberg: The government shouldn’t ‘take a big hammer’ to Facebook: Facebook (FB) CEO Mark Zuckerberg is pushing back against calls for a company breakup. During a conversation with Harvard Law School professor Cass Sunstein at the Aspen Ideas Festival on Wednesday, the CEO said that dismantling the social media behemoth wouldn't solve the company’s problems — including election interference, privacy matters, or misinformation. [Yahoo Finance] Also:Zuckerberg defends Facebook's decision to keep up Pelosi ‘deepfake’ video[Yahoo Finance] New software glitch found in Boeing's troubled 737 Max jet: A new software problem has been found in the troubled Boeing (BA) 737 Max that could push the plane's nose down automatically, and fixing the flaw is almost certain to further delay the plane's return to flying after two deadly crashes. [AP] Huawei personnel worked with China’s military: Several Huawei Technologies Co. employees have collaborated on research projects with Chinese armed forces personnel, indicating closer ties to the country’s military than previously acknowledged by the smartphone and networking powerhouse. [Bloomberg[ Also:Huawei warns US patent curbs would hurt global tech[Associated Press] StockX is now valued at over $1 billion Bitcoin price surge is not just about Facebook's crypto push Why Trump and Powell will send gold prices skyrocketing Trump's fatal flaw How General Mills scored big on Beyond Meat Money problems keep most Americans up, but here's how to sleep better To ensure delivery of the Morning Brief to your inbox, please addnewsletter@yahoofinance.comto your safe sender list. Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
Why Eldorado Resorts' Bet on Caesars Entertainment Has Good Odds On Sunday, Eldorado Resorts (NASDAQ: ERI) and Caesars Entertainment (NASDAQ: CZR) announced that they had come to an agreement under which the regional casino company would acquire its larger peer. And while that may seem counterintuitive, Motley Fool contributor Dan Kline -- who has been known to sit down at a blackjack table on occasion -- has some insights on why this union may produce a casino operator that's more than the sum of its parts. In this segment of the MarketFoolery podcast, he talks with host Chris Hill about what each company brings to the table, market saturation, loyalty programs, and the area that he sees as providing the post-merger company with serious long-term growth potential. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center . A full transcript follows the video. More From The Motley Fool 10 Best Stocks to Buy Today The $16,728 Social Security Bonus You Cannot Afford to Miss 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) What Is an ETF? 5 Recession-Proof Stocks How to Beat the Market This video was recorded on June 24, 2019. Chris Hill: We are going to start with the Deal of the Day because once again, Merger Monday has lived up to its title. This time in the casino industry. Eldorado is acquiring Caesars Entertainment. Maybe this shouldn't be curious. It's a little curious, just from the standpoint of, from a market cap standpoint, this is the smaller company acquiring the larger company; certainly the better-known company in Caesars. I think the people at Eldorado recognize that, because they've immediately come out and said that the resulting casino company will be branded Caesars. Dan Kline: Eldorado, I knew them as a furniture chain. I'd never even heard of them as a casino company. Their casino properties are in offbeat places for the most part. It marries really well with Caesars. Caesars has been under fire for underperformance. There's been a lot of pressure to do something to change management. This is actually the perfect deal. It gives Caesars a presence in places like Florida. I live down the street, about an hour, from six or seven different off-brand secondary casinos and one Hard Rock. I usually go to the Hard Rock. But now, I'm going to go to the Isle Casino, which is an Eldorado property, because I am a Caesars loyalty member. I think that's the part of this that's being underplayed. It's going to give Caesars a presence in a lot of markets where people are going to say, "Gee, I'm in Louisiana. Which casino am I going to go to? Oh, I'll go to the one where I already have the card, where I'm already getting perks." So I think there's a huge synergy here. Story continues The other piece of it is, this gives them sports gambling potential, bigger imprint, a lot more states, and they have the infrastructure. Even places that are going to let you do it electronically are probably still going to need a casino to provide the infrastructure. This positions Caesars really well. Hill: I'm going to pump the brakes for a second. I'm curious, just in this regard. When you look at what's happening with these stocks today, shares of Eldorado down about 10%, and it's entirely possible, if not probable, that people think they are paying too much for this. The buyout price for Caesars is $12.75 a share. Right now, it's trading about 10-15% below that. Let's put it in gaming terms. If you're at a casino, are you betting that this deal goes through as it is currently constructed? Kline: I do think the deal is going to go through. I think the problem with the casino market overall is oversaturation. We were talking this morning, Matt Frankel and I, often on our podcast, about the New England area. When I lived in New England three years ago, there was Foxwoods and Mohegan Sun about an hour away. There was Atlantic City about five, six hours away. Hill: Atlantic City, not in New England. Kline: That was it. Now there's an MGM in Springfield, which would have been 25 minutes from where I lived; the casino in Everett, Mass., which is a Boston suburb, opened today. Who's going to close? It doesn't seem to me that the casual buses of old people who went to Mohegan Sun to have lunch and play bingo, why wouldn't they go to Springfield or Everett? It does feel like there's going to be some shakeout in the industry. But if you look at where a lot of the Caesars and Eldorado properties are located, they're the only player in town. We were at the Horseshoe last night. It's the only downtown Baltimore casino. It's near the baseball stadium. It's very well positioned for what it is. Same thing with the one near me in Pompano Beach. It's off from the concentration in the Miami area of all the casinos. They all have a natural constituency. But I wouldn't buy this deal for what's going to happen two years from now -- I'd buy this deal for 10 years on the horizon when we've figured out sports gambling and hefty casino companies, you're going to see a ton of consolidation, and you're going to see closures. I think Caesars will be a winner because of that. Hill: I'm glad you mentioned that. That's where I was going next. Assuming this deal goes through, we now have the largest owner and operator of U.S. casinos. This seems like one of those industries where being bigger is better. I was going to ask you, should I be buying this? Should I be buying shares of Eldorado on the drop here? But it seems like, on the flip side, they're going to have to spend a lot of money, not just because Caesars comes with a lot of debt, but also because they may want to do some level of rebranding. Or, I guess I should say, we expect they're going to do some level of rebranding. It's just a question of how much. They're going to be spending money. Kline: Yeah. And they have to integrate the loyalty programs. They have to think about whether they're going to change some of the names. Does it make sense to have an Eldorado, or should it be a Harrah's? I don't think you can underestimate the value of the Caesars loyalty program, which was just totally revamped. It's one of the more generous ones in the industry. They can use that to market. They know where I live. They can now say, "Hey, there's a casino 45 minutes down the road. Would you like to go to the Japanese restaurant there? You've eaten there before, how about going? By the way, here's 50% off tickets for Comedian X that you like." There's a lot of ability to manipulate people. I know that if it's not like Consumer Electronics Show, I don't pay for a room in Vegas at the lesser Caesar hotels. I'm not some big ticket gambler. Their ability to say, "Hey, it's a Wednesday night. Do you want to go stay at this property?" that's pretty strong. And adding all these states to it makes their loyalty program a lot more appealing. Hill: That's another one of those sneaky tech companies. In the same way that for years, Domino's was this sneaky tech company because they were doing such an amazing job with their mobile app. Kline: The good thing is, Caesars actually has a nice product compared to Domino's. We've talked about this before. Domino's whole business was convenient pizza is better than good pizza. Hill: Convenient passable pizza. Kline: Right. In this case, Caesars actually has a nice casino. If you're in Vegas, Caesars has everything from the lower-rent casinos to the upscale. I know I am perfectly happy staying at Harrah's. But when we're there in October, Matt's wife is coming so we're going to stay at Harrah's for the point we're there, then he's going to go stay at one of the nice Caesars-branded properties once his wife comes. That'll cost him as opposed to the completely comped. But they really have the full circle of stuff. You talked about the tech side. We don't know where we're going with gambling and apps. Can you place a sports bet from your phone two years from now? If that happens, it's going to be very logical to tie it into existing casino companies. Hill: One more sign that Matt Frankel is a smart man. Chris Hill has no position in any of the stocks mentioned. Daniel B. Kline has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
Could Sarment Holding Limited's (CVE:SAIS) Investor Composition Influence The Stock Price? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The big shareholder groups in Sarment Holding Limited (CVE:SAIS) have power over the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. 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. Sarment Holding is not a large company by global standards. It has a market capitalization of CA$76m, which means it wouldn't have the attention of many institutional investors. Taking a look at our data on the ownership groups (below), it's seems that institutional investors have not yet purchased much of the company. We can zoom in on the different ownership groups, to learn more about SAIS. View our latest analysis for Sarment Holding Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Less than 5% of Sarment Holding is held by institutional investors. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. If the company is growing earnings, that may indicate that it is just beginning to catch the attention of these deep-pocketed investors. It is not uncommon to see a big share price rise if multiple institutional investors are trying to buy into a stock at the same time. So check out the historic earnings trajectory, below, but keep in mind it's the future that counts most. Hedge funds don't have many shares in Sarment Holding. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar. The definition of company insiders can be subjective, and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board; and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board, themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of Sarment Holding Limited. Insiders have a CA$29m stake in this CA$76m business. This may suggest that the founders still own a lot of shares. You canclick here to see if they have been buying or selling. The general public, with a 15% stake in the company, will not easily be ignored. 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. We can see that Private Companies own 43%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It's always worth thinking about the different groups who own shares in a company. But to understand Sarment Holding better, we need to consider many other factors. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. If you would prefer check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, backed by strong financial data. 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.
China's Xi to present Trump with terms for settling trade fight - WSJ, citing Chinese officials June 27 (Reuters) - Chinese President Xi Jinping plans to present U.S. President Donald Trump with a set of terms the United States should meet before Beijing is ready to settle their trade dispute, the Wall Street Journal reported on Thursday. Beijing is insisting that the U.S. remove its ban on the sale of U.S. technology to Chinese telecommunications giant Huawei Technologies Co Ltd, the Journal said https://on.wsj.com/2NiB88J, citing Chinese officials with knowledge of the plan. Beijing also wants the U.S. to lift all punitive tariffs and drop efforts to get China to buy even more U.S. exports than Beijing said it would when the two leaders last met in December, the WSJ said. (Reporting by Rama Venkat in Bengaluru)
What Kind Of Shareholders Own Sarment Holding Limited (CVE:SAIS)? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The big shareholder groups in Sarment Holding Limited (CVE:SAIS) have power over the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. 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. With a market capitalization of CA$76m, Sarment Holding is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutions don't own many shares in the company. Let's delve deeper into each type of owner, to discover more about SAIS. Check out our latest analysis for Sarment Holding Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. Since institutions own under 5% of Sarment Holding, many may not have spent much time considering the stock. But it's clear that some have; and they liked it enough to buy in. If the business gets stronger from here, we could see a situation where more institutions are keen to buy. We sometimes see a rising share price when a few big institutions want to buy a certain stock at the same time. The history of earnings and revenue, which you can see below, could be helpful in considering if more institutional investors will want the stock. Of course, there are plenty of other factors to consider, too. Hedge funds don't have many shares in Sarment Holding. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. 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. Our information suggests that insiders maintain a significant holding in Sarment Holding Limited. Insiders have a CA$29m stake in this CA$76m business. It is great to see insiders so invested in the business. It might be worth checkingif those insiders have been buying recently. The general public, with a 15% stake in the company, will not easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. Our data indicates that Private Companies hold 43%, of the company's shares. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. While it is well worth considering the different groups that own a company, there are other factors that are even more important. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. If you would prefer check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, backed by strong financial data. 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.
OPEC set for rollover, may discuss deeper oil curbs - Iraq By Shadia Nasralla and Ahmad Ghaddar LONDON (Reuters) - OPEC is expected to roll over a deal on cutting supplies at a meeting next week and discuss deepening the curbs that have been in place since Jan. 1, Iraq's oil minister on Thursday. A deal between the Organization of Petroleum Exporting Countries and allies including Russia to curb output by 1.2 million barrels runs out at the end of June. Meetings on July 1-2 in Vienna will discuss the next steps. "The rollover at least would be at the same level because it has not been very effective, it has been effective to a certain level to minimise the glut in the market, but there are now ideas or calls for agreeing (on) even more," Oil Minister Thamer Ghadhban said. He said the issue would be discussed in Vienna but declined to specify what alternative level of cuts were being suggested. Sources told Reuters this month that Algeria had floated an idea of deepening the cut by some 600,000 bpd. Ghadhban also told reporters in London that Exxon had completed an evacuation of its staff from an oilfield in southern Iraq for security reasons. Contractual wrangling and security concerns have held back a $53 billion deal with the U.S. energy giant to boost Iraq's oil output at its southern fields, Iraqi government officials have said. Ghadhban said on the sidelines of the CWC Iraq Petroleum Conference in London that the two sides were drawing up a heads of agreement, adding one snag related to pricing and inflation adjustments remained. "We are now working on final draft of our agreement. The point has to do with pricing, inflation and deflation, related to cash flow how to look at the price and returns. It’s purely a technical point, not political," the minister said. (Reporting by Shadia Nasralla and Ahmad Ghaddar; Editing by Edmund Blair)
Should Milner Consolidated Silver Mines (CVE:MCA.H) Be Disappointed With Their 86% Profit? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Milner Consolidated Silver Mines Ltd.(CVE:MCA.H) shareholders might be concerned after seeing the share price drop 13% in the last month. But over three years, the returns would have left most investors smiling After all, the share price is up a market-beating 86% in that time. View our latest analysis for Milner Consolidated Silver Mines With just CA$24,967 worth of revenue in twelve months, we don't think the market considers Milner Consolidated Silver Mines to have proven its business plan. As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. It seems likely some shareholders believe that Milner Consolidated Silver Mines will find or develop a valuable new mine before too long. Companies that lack both meaningful revenue and profits are usually considered high risk. There is usually a significant chance that they will need more money for business development, putting them at the mercy of capital markets. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some such companies go on to make revenue, profits, and generate value, others get hyped up by hopeful naifs before eventually going bankrupt. Some Milner Consolidated Silver Mines investors have already had a taste of the sweet taste stocks like this can leave in the mouth, as they gain popularity and attract speculative capital. Milner Consolidated Silver Mines had cash in excess of all liabilities of CA$68k when it last reported (March 2019). That's not too bad but management may have to think about raising capital or taking on debt, unless the company is close to breaking even. With the share price up 23% per year, over 3 years, the market is seems hopeful about the potential, despite the cash burn. You can see in the image below, how Milner Consolidated Silver Mines's cash levels have changed over time (click to see the values). You can see in the image below, how Milner Consolidated Silver Mines's cash levels have changed over time (click to see the values). It can be extremely risky to invest in a company that doesn't even have revenue. There's no way to know its value easily. However you can take a look at whether insiders have been buying up shares. If they are buying a significant amount of shares, that's certainly a good thing. You canclick here to see if there are insiders buying. We're pleased to report that Milner Consolidated Silver Mines rewarded shareholders with a total shareholder return of 63% over the last year. That's better than the annualized TSR of 23% over the last three years. These improved returns may hint at some real business momentum, implying that now could be a great time to delve deeper. Before spending more time on Milner Consolidated Silver Minesit might be wise to click here to see if insiders have been buying or selling shares. If you are like me, then you willnotwant to miss thisfreelist of growing companies that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA 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.
College music department resurrects long-lost funk music PHILADELPHIA (AP) — Back in the summer of 2005, Drexel University's Music Industry program got a very curious phone call. On the line was the owner of a storage facility in Philadelphia, wondering if the school would be interested in thousands of music studio tapes, seemingly abandoned in a unit for which no rent had been collected in a long time. The man said the tapes all had the same labels on the side: Sigma Sound Studio. For aficionados of Philadelphia funk, that's a famous name. In the 1960s and 1970s, Sigma Sound helped create "The Sound of Philadelphia" — the funky soul sound characterized by lush instrumental arrangements often featuring strings and horns. The studio churned out hits like The Trammps' "Disco Inferno" and The Three Degrees' "When Will I See You Again." Many Gamble and Huff hits were recorded there, including The O'Jays' "Love Train." No one knew the specific items in the stash, but Drexel's music industry program definitely wanted it, said Professor Toby Seay, project director of the university's audio archives. "The thought was if there are 7,000 tapes coming from the Sigma collection, there's gotta be good stuff in there," he said. Good stuff indeed. A reel from David Bowie's recording sessions at the studio while getting together his 1974 "Young Americans" album; tracks from Teddy Pendergrass, Sly Stone, Patti LaBelle, Gladys Knight and Stevie Wonder. As Seay and students slogged through the collection, working to digitize it, there was always the lingering possibility of discovering unheard and unreleased gems. Seay came upon just that in 2011, when he pulled a tape named "Nat Turner Rebellion" off the shelf. "The song was called 'Tribute to a Slave' and it blew me away," he said of the 1969 recording that packed power, politics and Philly funk and soul. He filed it away and made a note to keep an eye out for more of the band named after an 1831 slave revolt. Story continues Fast forward eight years, and the band's unreleased album "Laugh to Keep From Crying" was released in March on Drexel's student-run MAD Dragon Records label — some 50 years after it was recorded. A New York Times review calls it "a greeting across eras ... vintage socially conscious, tambourine-shaking funk." From 1969 to 1972, the Nat Turner Rebellion recorded for Philly Groove Records, which released a few singles, and opened for the chart-topping Delfonics. The band, led by Joseph Jefferson, broke up after what Jefferson described to the Philadelphia Inquirer as a spat with band member Bill Spratley, who he said pulled a gun on him during an argument over money. Afterward, Jefferson went on to write a string of hits for other bands, including "One of a Kind (Love Affair)" for the Spinners. "There was not a thought in my mind that this could have happened," Jefferson told the newspaper after the Nat Turner album's release. "This is what I wanted. Just the recognition for this." At 75, he's the last surviving member of the group. It wasn't exactly simple getting the album together. In 2012, Reservoir Media Management acquired Philly Groove Records. Reservoir's Faith Newman discovered more Nat Turner Rebellion tapes. The following year, Newman tracked down Jefferson on Facebook and got his permission to move forward with an album, Seay said. She collaborated with Drexel to assemble it. "I wanted to put something out commercially that was viable, and that's where the archives come in," said Marc Offenbach, a music industry veteran who now teaches at the university. His students developed a marketing plan and a social media strategy. Working with Vinyl Me, Please, which is a record subscription service, the students were able to produce the album on vinyl as well as digitally, lending a 1970s-era authenticity to the project. They pressed 5,000 albums, which he said sold out. "The greatest lesson is that we are actually making a profit," he said. "Just loving the band doesn't work. It's a business." So far, students and Seay have listened to and digitized only about 10 percent of the music in the collection. "The students there are probably not even aware of the significance of what they are doing," said Dave Moore, a music historian and Philadelphia soul expert who co-authored "There's That Beat! Guide to the Philly Sound" with Jason Thornton. "But they should have our grateful thanks for what they do in ensuring this music can be preserved and enjoyed for generations to come."
Glacier Bancorp (GBCI) Announces Dividend Hike: Worth a Look? Glacier Bancorp, Inc.GBCI has raised its quarterly common stock dividend by about 3.8% to 27 cents per share. The dividend will be paid on Jul 18, to shareholders of record as of Jul 9, 2019. Notably, this is the 44th time that the company has increased its dividend.Glacier Bancorp’s robust business model highlights the company’s commitment toward returning value to shareholders with its strong cash-generation capabilities. Prior to this revision, the company had raised its quarterly dividend to 26 cents per share last June, marking a 13% hike.Considering last day’s closing price of $39.56 per share, the dividend yield is currently valued at 2.73%.Investors interested in this Zacks Rank #2 (Buy) stock can have a look at the bank’s fundamentals and growth prospects. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Strong Organic Growth:Glacier Bancorp’s revenues witnessed 10.8% compounded annual growth rate (CAGR) over the last five years, ending 2018. The company’s projected sales growth (F1/F0) of 12.29% highlights continued upward momentum in revenues.Earnings Per Share Strength:The banking firm has witnessed earnings growth of 8.38% over the last three-five years. This earnings momentum is likely to continue in the near term as reflected by the company’s projected earnings per share (EPS) growth rate (F1/F0) of 11.98%. Additionally, the company’s long-term (three-five years) estimated EPS growth rate of 10% promises rewards for investors over the long run.Share Price Movement:Glacier Bancorp’s shares have gained around 1% in the past six months compared with 8.3% growth recorded by the industry. Superior Return on Equity (ROE):Glacier Bancorp’s ROE of 12.83%, compared with the industry average of 11.8%, indicates the company’s commendable position over its peers.Some other finance stocks which raised their dividends during the current quarter include Lazard Ltd. LAZ, Main Street Capital Corporation MAIN and First Midwest Bancorp FMBI.  Lazard raised its quarterly dividend by 7%, while First Midwest Bancorp increased by 17%. Also, Main Street Capital has announced a 2.5% rise in its common stock dividend.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFirst Midwest Bancorp, Inc. (FMBI) : Free Stock Analysis ReportGlacier Bancorp, Inc. (GBCI) : Free Stock Analysis ReportLazard Ltd (LAZ) : Free Stock Analysis ReportMain Street Capital Corporation (MAIN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
If You Had Bought Milner Consolidated Silver Mines (CVE:MCA.H) Shares Three Years Ago You'd Have Made 86% Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Milner Consolidated Silver Mines Ltd.(CVE:MCA.H) shareholders might be concerned after seeing the share price drop 13% in the last month. But that shouldn't obscure the pleasing returns achieved by shareholders over the last three years. To wit, the share price did better than an index fund, climbing 86% during that period. See our latest analysis for Milner Consolidated Silver Mines We don't think Milner Consolidated Silver Mines's revenue of CA$24,967 is enough to establish significant demand. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. It seems likely some shareholders believe that Milner Consolidated Silver Mines will find or develop a valuable new mine before too long. We think companies that have neither significant revenues nor profits are pretty high risk. There is usually a significant chance that they will need more money for business development, putting them at the mercy of capital markets. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some companies like this go on to deliver on their plan, making good money for shareholders, many end in painful losses and eventual de-listing. Some Milner Consolidated Silver Mines investors have already had a taste of the sweet taste stocks like this can leave in the mouth, as they gain popularity and attract speculative capital. When it last reported its balance sheet in March 2019, Milner Consolidated Silver Mines had cash in excess of all liabilities of CA$68k. That's not too bad but management may have to think about raising capital or taking on debt, unless the company is close to breaking even. Given the share price has increased by a solid 23% per year, over 3 years, its fair to say investors remain excited about the future, despite the potential need for cash. You can click on the image below to see (in greater detail) how Milner Consolidated Silver Mines's cash levels have changed over time. You can click on the image below to see (in greater detail) how Milner Consolidated Silver Mines's cash levels have changed over time. Of course, the truth is that it is hard to value companies without much revenue or profit. However you can take a look at whether insiders have been buying up shares. If they are buying a significant amount of shares, that's certainly a good thing. Luckily we are in a position to provide you with thisfreechart of insider buying (and selling). It's nice to see that Milner Consolidated Silver Mines shareholders have gained 63% (in total) over the last year. That gain actually surpasses the 23% TSR it generated (per year) over three years. The improving returns to shareholders suggests the stock is becoming more popular with time. Before spending more time on Milner Consolidated Silver Minesit might be wise to click here to see if insiders have been buying or selling shares. We will like Milner Consolidated Silver Mines better if we see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA 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.
Exclusive: Trade tensions put energy transition at risk - BP chairman By Ron Bousso and Dmitry Zhdannikov LONDON (Reuters) - Trade tensions risk throwing the global economy's transition to greener energy into disarray and could hurt energy companies' preparations towards it, BP Chairman Helge Lund said as leaders of the world's largest economies gather for talks in Japan. Lund, in his first interview since taking office in January, said BP would rather see a rapid, orderly phasing out of fossil fuels than a delayed and disorganised transition. The former chief executive of Norwegian oil group Equinor said BP as well as rivals such as Royal Dutch Shell and ExxonMobil would have a vital role to play to ensure a successful transition to low carbon economies. "It is better for us to see a path that goes rapidly," Lund said. "It will be very difficult for the oil and gas companies but that is a better and a preferred solution than an uncontrolled sudden change maybe 10, 15 years into the future." London-based BP, like some of its peers, has taken steps towards meeting the 2015 Paris Climate Agreement to limit global warming, including setting targets to reduce carbon emissions from its operations, link them to managers' pay and ensure that investments are in line with the accords. But many investors say BP will have to do more, including tackling emissions from the fuels and products it sells to millions of customers daily, known as Scope 3 emissions, to prevent a catastrophic rise in global temperatures. Lund said however that such Scope 3 targets would tie BP's hands to make future investments, whether in renewable energy or oil and gas. He nevertheless said the company's thinking around Scope 3 was likely "to evolve over time." BP invested around $500 million in renewable power, electric vehicle charging points and other low-carbon technologies last year, a fraction of its annual spending of $15 billion. And the pressure on companies and governments to do more to curb greenhouse gases is rising as carbon emission levels show no sign of decreasing. Investors managing more than $34 trillion in assets, nearly half the world's invested capital, this week demanded urgent action from governments on climate change, piling pressure on leaders of the world's 20 biggest economies meeting this week. France has said it will not accept a final G20 communique that does not mention the Paris climate change agreement. "The long-term framework around the energy transition is important. Over time it is much easier for big companies like BP if we have a stable global framework for trade and investments," Lund told Reuters at BP's London headquarters. Lund said an unprecedented level of cooperation was needed between companies and governments to bring greenhouse gas emissions to zero by the end of the century. He urged governments to introduce a price on carbon emissions to allow phasing out fossil fuels, even though only a handful of such schemes have been introduced around the world. SOUND INVESTMENT BP has faced a wave of protests by climate activists, including a blockade on its London office and protests at events the company sponsors. Big investors, including Norway's sovereign wealth fund, are reviewing shareholdings in some oil and gas drillers, though not in BP and its largest rivals. Lund, who took part in discussions on a climate resolution with a group of investors earlier this year, believes most investors understand that modern societies are almost built on hydrocarbons. BP forecasts that even with a rapid increase in wind, solar and other forms of renewable energy, fossil fuels will account for the majority of energy supply for decades to come. Lund also warned that attempts to curb fossil fuels too fast could harm societies. "It takes time to change energy systems ... If you try to build down the oil and gas industry quicker than you are able to build up a carbon neutral system you will pull societies back." Lund said large oil companies would be vital for the transition due to their large balance sheets, technical expertise and innovation skills. "To be a strong contributor in the long term we have to stay financially strong, we have to be a good investment." Lund also said: “There is another dimension that we need to think about and that is if you believe that BP and other integrated oil and gas companies understand energy markets, they have significant balance sheets, they have technical capabilities, they have innovation capabilities, they can take risks - so in my mind business and these companies play an incredibly important role in the energy transition.” SUCCESSION Lund, 56, faces the task of leading BP through the energy transition and also overseeing the succession to Chief Executive Bob Dudley, who took the helm in 2010 following the crisis over the Deepwater Horizon rig explosion in the Gulf of Mexico. Dudley also steered BP through the oil industry's worst downturn in decades so that the company is now producing strong profits which reached a five-year high last year of $12.7 billion. "Bob is a very good leader, I am not sure where BP would have been without him," Helge said. BP's board would ensure that when Dudley, who turns 65 next year, steps down, there will be "at least a number of candidates who can compete for the job," he added. Lund, a former consultant and political adviser in the Norwegian parliament rejected suggestions he could replace Dudley to become the next CEO. "I've been CEO for three companies. I thought about this when I left BG whether I should try to get one more (CEO) job or try to get a different life and I decided on the latter and I think it is rewarding," he said. (Reporting by Ron Bousso. Editing by Jane Merriman)
Is Graham Holdings Company (NYSE:GHC) An Attractive Dividend Stock? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Dividend paying stocks like Graham Holdings Company (NYSE:GHC) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. A 0.8% yield is nothing to get excited about, but investors probably think the long payment history suggests Graham Holdings has some staying power. The company also bought back stock equivalent to around 1.1% of market capitalisation this year. Some simple analysis can reduce the risk of holding Graham Holdings for its dividend, and we'll focus on the most important aspects below. Click the interactive chart for our full dividend analysis Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Looking at the data, we can see that 9.2% of Graham Holdings's profits were paid out as dividends in the last 12 months. Given the low payout ratio, it is hard to envision the dividend coming under threat, barring a catastrophe. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Graham Holdings's cash payout ratio last year was 24%. Cash flows are typically lumpy, but this looks like an appropriately conservative payout. It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously. We update our data on Graham Holdings every 24 hours, so you can always getour latest analysis of its financial health, here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. Graham Holdings has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. Its dividend payments have fallen by 20% or more on at least one occasion over the past ten years. During the past ten-year period, the first annual payment was US$8.60 in 2009, compared to US$5.56 last year. The dividend has shrunk at around 4.3% a year during that period. Graham Holdings's dividend has been cut sharply at least once, so it hasn't fallen by 4.3% every year, but this is a decent approximation of the long term change. A shrinking dividend over a ten-year period is not ideal, and we'd be concerned about investing in a dividend stock that lacks a solid record of growing dividends per share. With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Graham Holdings has grown its earnings per share at 47% per annum over the past five years. Earnings per share have grown rapidly, and the company is retaining a majority of its earnings. We think this is ideal from an investment perspective, if the company is able to reinvest these earnings effectively. When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. Firstly, we like that Graham Holdings has low and conservative payout ratios. Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past. All things considered, Graham Holdings looks like a strong prospect. At the right valuation, it could be something special. See if management have their own wealth at stake, by checking insider shareholdings inGraham Holdings stock. If you are a dividend investor, you might also want to look at ourcurated list of dividend stocks yielding above 3%. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
What To Know Before Buying Graham Holdings Company (NYSE:GHC) For Its Dividend Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Today we'll take a closer look at Graham Holdings Company (NYSE:GHC) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. While Graham Holdings's 0.8% dividend yield is not the highest, we think its lengthy payment history is quite interesting. The company also bought back stock equivalent to around 1.1% of market capitalisation this year. Some simple analysis can reduce the risk of holding Graham Holdings for its dividend, and we'll focus on the most important aspects below. Explore this interactive chart for our latest analysis on Graham Holdings! Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. In the last year, Graham Holdings paid out 9.2% of its profit as dividends. We'd say its dividends are thoroughly covered by earnings. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Graham Holdings's cash payout ratio last year was 24%, which is quite low and suggests that the dividend was thoroughly covered by cash flow. It's positive to see that Graham Holdings's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. We update our data on Graham Holdings every 24 hours, so you can always getour latest analysis of its financial health, here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. For the purpose of this article, we only scrutinise the last decade of Graham Holdings's dividend payments. Its dividend payments have fallen by 20% or more on at least one occasion over the past ten years. During the past ten-year period, the first annual payment was US$8.60 in 2009, compared to US$5.56 last year. This works out to be a decline of approximately 4.3% per year over that time. Graham Holdings's dividend has been cut sharply at least once, so it hasn't fallen by 4.3% every year, but this is a decent approximation of the long term change. When a company's per-share dividend falls we question if this reflects poorly on either the business or management. Either way, we find it hard to get excited about a company with a declining dividend. Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Graham Holdings has grown its earnings per share at 47% per annum over the past five years. The company is only paying out a fraction of its earnings as dividends, and in the past been able to use the retained earnings to grow its profits rapidly - an ideal combination. Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. Firstly, we like that Graham Holdings has low and conservative payout ratios. Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past. Overall we think Graham Holdings scores well on our analysis. It's not quite perfect, but we'd definitely be keen to take a closer look. You can also discover whether shareholders are aligned with insider interests bychecking our visualisation of insider shareholdings and trades in Graham Holdings stock. If you are a dividend investor, you might also want to look at ourcurated list of dividend stocks yielding above 3%. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Ivanka Trump reportedly pretended to attend Karlie Kloss' wedding party on Instagram Ivanka Trump and Jared Kushner reportedly pretended to attend Karlie Kloss' second wedding bash [Photo: Getty] Ivanka Trump reportedly pretended to attend sister-in-law Karlie Kloss ’ wedding party over the weekend. The supermodel - who famously wed Joshua Kushner in October - held a weekend-long party in Wyoming to celebrate tying the knot. Despite kick-starting a political campaign in the Middle East, Ivanka Trump and husband Jared Kushner made sure to ‘drop in’ on the festivities. On Sunday (23 June), the US President’s eldest daughter shared a photograph of the couple outdoors, in a similar location to the Wyoming bash, on her Instagram Story. But according to People magazine, the couple never attended the party and actually visited the location on Thursday - before the event kicked off the following day. After the publication reached out to the White House for comment, a spokeswoman for the couple refused to address the rumours. READ MORE: Ivanka Trump criticised during national anthem Kloss and Kushner’s second celebration comes eight months after they tied the knot in a starry New York ceremony with just 80 guests in attendance. The model’s husband is the brother of Jared Kushner, senior adviser to President Donald Trump. At the newlyweds’ latest western-themed celebrations, the likes of Orlando Bloom, Katy Perry and Mila Kunis made the exclusive guest list - decked in cowboy hats and boots. View this post on Instagram A post shared by Karlie Kloss (@karliekloss) on Jun 24, 2019 at 8:57am PDT The star-studded weekend was jam-packed with activities from horseback riding to paintball which Kloss shared photographs of on her Instagram page. View this post on Instagram A post shared by Karlie Kloss (@karliekloss) on Jun 24, 2019 at 9:16am PDT Meanwhile, Ivanka and Jared are busy promoting the President’s plan to achieve peace between Palestine and Israel. Watch the latest videos from Yahoo Style UK:
Samsung reportedly plans a second foldable phone despite Fold delay Samsung still hasn't launched its first foldable phone, the Galaxy Fold, even though the device was originally scheduled to launch in April. The company hasn't announced anew launch date. But according toThe Korea Herald, Samsung plans to launch a different folding phone quite soon. In contrast to the Fold, which folds inwards, this new phone would fold outwards, just like Huawei's upcoming Mate X. The Mate X has originally been scheduled to launch in June but that date, too, has been delayed —to September. Quoting anonymous sources familiar with the matter,The Korea Heraldsays that Samsung doesn't have a fixed launch date for the new phone yet, but will likely launch it before Huawei does.Read more... More aboutSamsung,Foldable Phone,Tech,Consumer Tech, andSmartphones
Introducing MYOS RENS Technology (NASDAQ:MYOS), The Stock That Tanked 88% Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Over the last month theMYOS RENS Technology Inc.(NASDAQ:MYOS) has been much stronger than before, rebounding by 34%. But that doesn't change the fact that the returns over the last half decade have been stomach churning. Like a ship taking on water, the share price has sunk 88% in that time. So we don't gain too much confidence from the recent recovery. The important question is if the business itself justifies a higher share price in the long term. We really feel for shareholders in this scenario. It's a good reminder of the importance of diversification, and it's worth keeping in mind there's more to life than money, anyway. View our latest analysis for MYOS RENS Technology With just US$452,000 worth of revenue in twelve months, we don't think the market considers MYOS RENS Technology to have proven its business plan. You have to wonder why venture capitalists aren't funding it. As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. Investors will be hoping that MYOS RENS Technology can make progress and gain better traction for the business, before it runs low on cash. We think companies that have neither significant revenues nor profits are pretty high risk. There is almost always a chance they will need to raise more capital, and their progress - and share price - will dictate how dilutive that is to current holders. While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized). It certainly is a dangerous place to invest, as MYOS RENS Technology investors might realise. When it reported in March 2019 MYOS RENS Technology had minimal cash in excess of all liabilities consider its expenditure: just US$862k to be specific. So if it has not already moved to replenish reserves, we think the near-term chances of a capital raising event are pretty high. That probably explains why the share price is down 34% per year, over 5 years. You can click on the image below to see (in greater detail) how MYOS RENS Technology's cash levels have changed over time. You can see in the image below, how MYOS RENS Technology's cash levels have changed over time (click to see the values). It can be extremely risky to invest in a company that doesn't even have revenue. There's no way to know its value easily. Would it bother you if insiders were selling the stock? It would bother me, that's for sure. It only takes a moment for you tocheck whether we have identified any insider sales recently. It's nice to see that MYOS RENS Technology shareholders have received a total shareholder return of 17% over the last year. There's no doubt those recent returns are much better than the TSR loss of 34% per year over five years. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. If you want to research this stock further, the data on insider buying is an obvious place to start. You canclick here to see who has been buying shares - and the price they paid. There are plenty of other companies that have insiders buying up shares. You probably donotwant to miss thisfreelist of growing companies that insiders are buying. 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.
Bear Of The Day: Enviva Partners (EVA) Enviva Partners(EVA) is a Zacks Rank #5 (Strong Sell) following a significant miss of the Zacks Consensus Estiamte for the March 2019 quarter.  Following that miss, estimates have dropped and that pushed the stock down to a Zacks Rank #5 (Strong Sell) but a recent upgrade has some investors wondering if they should buy the dip. Description Enviva Partners, LP is a master limited partnership which owns and operates wood pellet production plants. It serves primarily in the United States and Europe. Enviva Partners, LP is based in Bethesa, United States. Recent Earnings The Zacks site shows that EVA reported a loss of 39 cents when the consensus was calling for a gain of 15 cents.  That 54 cent miss translates to a negative earnings surprise of 360%. A miss like that is bound to move numbers for the whole year, and those estimates carry a bigger weighting on the Zacks Rank. Estimate Revisions The miss looks like it has extended into this quarter and the next as well. I seen the Zacks Consensus Estimate falling from 44 cents to 12 cents following the recent miss.  The following quarter was moved to 27 cents from 46 cents. The big move came in the full year numbers, which were as high as $1.71 90 days ago, then down to $0.96 60 days ago and now at $0.52. The 2020 numbers, however have held still at $1.33. Upgrade On June 24 Goldman upgraded the stock to Buy from Neutral.  They also raised the target price on the stock to $37. This is an opportunity to buy the dip... if you believe that the weakness in the EPS will end in the coming quarters.  If the weakness persists, then the stock is likely to keep dropping. Chart Enviva Partners, LP price-consensus-chart | Enviva Partners, LP Quote 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 >> 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 reportEnviva Partners, LP (EVA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Diane Abbott 'worried' about Labour's Brexit stance Diane Abbott has hinted at frustration over Jeremy Corbyn's stance on Brexit (Getty) Diane Abbott has hinted at a potential row at the heart of the Labour party after admitting her “worry” about Jeremy Corbyn’s stance on Brexit . The shadow home secretary responded to a Twitter user who said he had so far backed Labour's position but was concerned by the momentum of the Greens and Liberal Democrats - who have backed a second referendum. Ms Abbott said: "Like you I have supported Labour's Brexit strategy so far. But like you I am beginning to worry…” Like you I have supported Labour’s Brexit strategy so far. But like you I am beginning to worry... — Diane Abbott (@HackneyAbbott) June 27, 2019 Ms Abbott is a long-time ally of Mr Corbyn (PA) The admission from a long-time Corbyn ally suggests friction among those around the Labour leader, who has so far resisted calls to fully commit to a second referendum in any circumstances. Mr Corbyn’s position flies in the face of several of his own MPs and thousands of party members, who say Labour should campaign for another vote - and back Remain. Ms Abbott’s comments come after shadow chancellor John McDonnell reportedly described Labour’s Brexit policy as a “slow-moving car crash” at a shadow cabinet meeting. Read more from Yahoo News UK: London violence: Teenager dies in Shepherds Bush stabbing The corridors of powder: Cocaine found in Houses of Parliament German police pull over naked man on moped who says ‘it’s too hot’ Emily Thornberry, the shadow foreign secretary, is also said to have fumed that “this is about leadership”, while shadow health secretary Jon Ashworth said Labour must have “the courage of our socialist convictions” and campaign to stay in the EU, according to The Sun . Mr Corbyn has decided to delay his decision on whether to call for a so-called ‘People’s Vote’ for another two weeks so he can discuss the issue further. Labour MP Neil Coyle – who backs another referendum – said: “Thousands have left the party as a result and thousands more voted for other parties in recent elections. Story continues The Labour leader has been resistant to fully back a second Brexit referendum (PA) “The situation is unsustainable and risks harming Labour in future elections.” Meanwhile, Brexit Secretary Steve Barclay has said he favours no-deal if the other choice was no Brexit. Speaking in the Commons today, Mr Barclay said: "Between a choice between no deal and no Brexit - which a second referendum is a proxy for because, as a member for Don Valley (Caroline Flint) has said, a second referendum is actually a stop-Brexit referendum.” Remainers have called on Labour to throw their weight behind a second vote (PA) In response to a question from Shadow Brexit minister Jenny Chapman, Mr Barclay added: "In answer to the question, between those two things I think no Brexit is worse than no deal. "The point is no deal would be disruptive. I have been clear about that to colleagues on my own side. "But the point is she has consistently voted against a deal and it is the deal that would have secured the interest of businesses.” Boris Johnson has insisted he will deliver Brexit by October 31, “do or die”, but said the chances of no-deal were "a million-to-one against". ---Watch the latest videos from Yahoo UK---
Does Market Volatility Impact Novan, Inc.'s (NASDAQ:NOVN) Share Price? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you're interested in Novan, Inc. (NASDAQ:NOVN), 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 second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated 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. A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. See our latest analysis for Novan Zooming in on Novan, we see it has a five year beta of 1.82. This is above 1, so historically its share price has been influenced by the broader volatility of the stock market. If the past is any guide, we would expect that Novan shares will rise quicker than the markets in times of optimism, but fall faster in times of pessimism. Share price volatility is well worth considering, but most long term investors consider the history of revenue and earnings growth to be more important. Take a look at how Novan fares in that regard, below. Novan is a noticeably small company, with a market capitalisation of US$73m. Most companies this size are not always actively traded. It has a relatively high beta, suggesting it is fairly actively traded for a company of its size. Because it takes less capital to move the share price of a small company like this, when a stock this size is actively traded it is quite often more sensitive to market volatility than similar large companies. Beta only tells us that the Novan share price is sensitive to broader market movements. This could indicate that it is a high growth company, or is heavily influenced by sentiment because it is speculative. Alternatively, it could have operating leverage in its business model. Ultimately, beta is an interesting metric, but there's plenty more to learn. This article aims to educate investors about beta values, but it's well worth looking at important company-specific fundamentals such as Novan’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 NOVN’s future growth? Take a look at ourfree research report of analyst consensusfor NOVN’s outlook. 2. Past Track Record: Has NOVN 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 NOVN's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how NOVN 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.
Italy's 'cannabis light' creates buzz even if the pot won't ROME (AP) — It's been called the Italian "green gold rush." Mild, barely there marijuana dubbed "cannabis light" has put Italy on the international weed map, producing hundreds of stores that sell pot by the pouch and attention from investors banking the legalization of stronger stuff will follow. The flourishing retail industry around cannabis light - weed so non-buzzy, it's essentially the decaf coffee of marijuana - surfaced as an unintended by-product of a law meant to restore Italy as a top producer of industrial hemp. Now, storefronts that peddle chemically ineffective hemp flowers in varieties such as "Chill Haus" and "Black Buddha" are getting blowback that some Italians fear will nip business in the bud. Italy's highest court clouded the climate four weeks ago by ruling it was illegal to market hemp-derived products that weren't "in practice devoid" of the power to provide a perceptible high. Sporadic testing and customer reviews suggested cannabis light outlets sold weed that weak. The law-and-order interior minister nonetheless declared war on the shops with neon leaf logos last month, vowing to close them "street by street, shop by shop" nationwide. "It is neither possible nor acceptable that in Italy there are 1,000 shops where there are drugs legally, in broad daylight. This is disgusting," said Matteo Salvini, who made keeping migrants out of Italy a primary focus after taking office a year ago. Some business owners are ready to fight back. The owner of Green Planet in the southern city of Caserta chained himself to the fence around his locked shop this month after a raid in which police seized 16 grams of cannabis light. Gioel Magini, the owner of a Cannabis Amsterdam Store franchise in Sanremo, proposed a class-action lawsuit to keep the shops open and their owners from losing money. "I closed a pizzeria to open this store. Now, they want us to go bankrupt," Magini told Italian news agency ANSA. "It's as if to fight alcoholism, the sale of non-alcoholic beer is banned." Story continues The commotion reflects the lag in Europe's pro-marijuana movement compared to the recreational use frontiers of North America. The coffee shops in Amsterdam where tourists have gone since the late 1970s to purchase pot in public never took off outside the Netherlands. While more than 30 European countries have laws allowing medical marijuana in some form, patient advocates complain of high prices and inadequate supplies. Enter "la cannabis light," the catchy name Italians have for cannabis sativa plant derivatives with low levels of THC, the psychoactive compound in marijuana that causes a high. Hemp and marijuana are the same plant, but scientists classify dry plants with no more than 0.3% THC as hemp. In the 28-country European Union, of which Italy is a member, the cutoff is 0.2%. A December 2016 Italian law, however, set a domestic ceiling three times higher than that to give hemp farmers leeway for natural variations resulting from cultivation, according to Stefano Masini, a spokesman for Italy's Coldiretti agriculture lobby. Although 0.6% is just over the THC concentration required for hemp to become marijuana in a botanist's book, Italian regulators assumed it was too low to have a mind-altering effect and its related consumer appeal. Entrepreneurs in a country with a lackluster economy nonetheless saw an opportunity. The hemp law that took effect 2 ½ years ago permitted sales of cosmetics and products made with hemp. Gift boutiques, corner markets and stand-alone grow shops soon stocked cannabis-infused pasta, olive oil and gelato, but also jars and bags of "light" buds. Since marijuana still was illegal, producers labeled the products as "collector's items" not intended for consumption. Rolling papers and glass pipes storekeepers might display nearby advertised otherwise. "To say it is for collectors doesn't mean a thing," Coldiretti's Masini said. "If you can sell something that can be eaten or inhaled, obviously the use is something different." Even so, cannabis light is a far cry from the legal weed with THC levels of 5% to 35% that adults can buy for recreational use at licensed dispensaries in some parts of the U.S. A Seattle blogger accustomed to the high-octane marijuana in Washington state called Italy's cannabis light "faux weed" after smoking some in Rome and feeling nothing. Other reviewers have described a slight relaxing effect. THC content - or more precisely, how much it takes to get stoned - was considered by Italy's Supreme Court of Cassation in the May 30 decision that alarmed the cannabis light industry. The case involved two light cannabis shops in central Italy that police shut down on suspicion of drug trafficking. An investigating judge threw out charges against the owner. Similar cases had resulted in conflicting verdicts on whether the shops could operate legally. The Supreme Court's ruling summed up the contradictions of cannabis light. The court said the 2016 hemp law and its upper THC limit did not apply to cannabis leaves, buds or other spin-offs from hemp plants. Selling them remained illegal in Italy "unless such products are in practice devoid of a doping effect." The next day, police performed a "precautionary seizure" of Green Planet and two other stores in Caserta to test if the cannabis light they were selling was a legal non-high or carried illegal high-giving capacity. Local magistrates let Green Planet reopen after two weeks, which included the several its owner spent outside chained to the gated door in protest. Results must come back from THC tests on his confiscated products before he can sell cannabis light again. Police raids in other cities have cannabis producers and sellers worried. They are waiting to see if the Supreme Court's full opinion, due by July 30, clarifies if they have a green light to keep mining the gold rush until the novelty of cannabis light wears off or more liberal laws clear the way for heavier marijuana on store shelves. In other parts of Europe, changing attitudes on marijuana planted across the Atlantic might find fertile ground.. The government that took over in Luxembourg in November was the first in Europe to legalize recreational marijuana. Switzerland, which is not an EU member, allows cannabis light with up to 1% THC to be sold like tobacco. In Spain, cannabis social clubs are sprouting up since drug laws prohibiting marijuana possession are rarely enforced against casual users. Legislative attempts to take the light out of Italian cannabis so far have stalled on strong objections from the right. One of the two populist parties running the government now - the 5-Star Movement - enraged its coalition partner - the League party led by cannabis light critic Salvini - with such an attempt last year. Claudio Miglio, a lawyer who specializes in drug-related cases, is optimistic the cannabis light market will be allowed to keep growing in the meantime. "The hope is that the market, which is the strongest power of all, will finally stimulate the public opinion on marijuana as it's happening for light cannabis now," Miglio said. ___ Lisa Leff contributed from London.
Celebrities weigh in on first Democrat debate And they’re off! Wednesday marked the first of two Democratic debates airing this week, giving voters a chance to learn more about 10 of the candidates vying for their party’s nomination. (NBC and MSNBC will air another debate featuring the remaining candidates Thursday night.) On Twitter, Donald Trump proclaimed the entire affair “BORING!” while Rep. Alexandria Ocasio-Cortez shared her thoughts on The Late Show With Stephen Colbert . Julián Castro, Cory Booker and Elizabeth Warren were among those taking part in Wednesday's debate. (Photo: Mike Segar/Reuters) They weren’t the only high-profile figures tuning in as Sen. Elizabeth Warren faced off against the likes of Beto O’Rourke and Sen. Cory Booker. Sarah Silverman was among the celebrities live-tweeting the televised debate, sharing several quotes that struck a chord and voicing support for Warren. Her dad, meanwhile, had a soft spot for “Miss Hawaii,” aka Rep. Tulsi Gabbard. Warren Warren all day Warren #DemocraticDebate — Sarah Silverman (@SarahKSilverman) June 27, 2019 Warren has a comprehensive righteousAF thought-out plan for everything. She’s so badass. But mostly I like her because she purty IM SORRY #DemocraticDebate — Sarah Silverman (@SarahKSilverman) June 27, 2019 Warren also had a fan in Rosie O’Donnell . you were amazing tonight #warren2020 https://t.co/jbk02yCpaE — ROSIE (@Rosie) June 27, 2019 yup https://t.co/M32Wzs6n2Y — ROSIE (@Rosie) June 27, 2019 Former HUD secretary Julián Castro also appeared to have won over some stars, while West Wing and Get Out star Bradley Whitford made a crack noting the sexist feedback women candidates typically face. Story continues I don’t like what the men are wearing. Or what they’ve done with their hair. — Bradley Whitford (@WhitfordBradley) June 27, 2019 I screamed when he called MOMS DEMAND out!! https://t.co/YaGATzPtw2 — Debra Messing (@DebraMessing) June 27, 2019 Every single person on this panel sounds more like a President than the sitting President. — Seth MacFarlane (@SethMacFarlane) June 27, 2019 . @JulianCastro ’s having a break out night. He mentioned #ERANow & ending section 1325. . @CoryBooker has x-factor presence. Powerful. Incredibly special. Commanding the stage and the room. . @ewarren makes it all look so effortless. Fluid. Brilliant. She is flawless. #Demdebate — Alyssa Milano (@Alyssa_Milano) June 27, 2019 . @JulianCastro says he would pass the #ERA 🎉🎉🎉 #DemDebate — Piper Perabo (@PiperPerabo) June 27, 2019 Who do you think did the best job tonight? #DemDebate — Padma Lakshmi (@PadmaLakshmi) June 27, 2019 It wasn’t just liberal celebrities tuning in. Conservative actor Dean Cain mocked Booker’s Spanish-speaking skills, while Scott Baio shared a pro-Trump meme. Meghan McCain seemed intrigued by Gabbard — despite accusing her of fundraising “off of my name” — and pushed for the chance to moderate a debate on The View. You guys... let the ladies of @TheView moderate one of these things. I ASSURE YOU we would get the answers Americans are really looking to hear without innocuous spin. CC @WhoopiGoldberg @JoyVBehar @sunny @HuntsmanAbby — Meghan McCain (@MeghanMcCain) June 27, 2019 Tulsi and I literally couldn't disagree on more (and she fundraised off of my name for calling her out on her relationship with Assad) BUT so far she's coming across the most composed and authentic. #DemocraticDebate — Meghan McCain (@MeghanMcCain) June 27, 2019 I speak Spanish... and at first I thought he was speaking French! 🤣 https://t.co/oeAFQ1Nsbr — Dean Cain (@RealDeanCain) June 27, 2019 🤔👇 https://t.co/TkWEOMVSTp pic.twitter.com/ZA2kcqgbmD — Scott Baio (@ScottBaio) June 27, 2019 Comedian Billy Eichner, meanwhile, sent a pre-debate message to his fellow Dems in the spirit of solidarity. Dems/liberals/progressives/snowflakes - we all have our favorites & criticism is healthy & necessary. But as debates begin let’s remember we need each other more than ever. NOTHING will make Trump happier than to watch us tear our own side apart. So let’s not. And let’s WIN. 🇺🇸 — billy eichner (@billyeichner) June 26, 2019 Read more from Yahoo Entertainment: NRA cancels NRATV — and the internet sends 'thoughts and prayers' Don Lemon on Trump’s anti-immigrant rhetoric: ‘That’s bull****’ Simon Cowell clashes with ‘AGT’ contestant: ‘You are getting on my nerves’ Tell us what you think! Hit us up on Twitter , Facebook , or Instagram , or leave your comments below. And check out our host, Kylie Mar, on Twitter , Facebook , or Instagram . Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter.
Gemphire Therapeutics Inc.'s (NASDAQ:GEMP) Path To Profitability Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Gemphire Therapeutics Inc.'s (NASDAQ:GEMP): Gemphire Therapeutics Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and nonalcoholic fatty liver disease (NAFLD/NASH). The US$14m market-cap company’s loss lessens since it announced a -US$23.6m bottom-line in the full financial year, compared to the latest trailing-twelve-month loss of -US$20.2m, as it approaches breakeven. Many investors are wondering the rate at which GEMP will turn a profit, with the big question being “when will the company breakeven?” In this article, I will touch on the expectations for GEMP’s growth and when analysts expect the company to become profitable. View our latest analysis for Gemphire Therapeutics According to the industry analysts covering GEMP, breakeven is near. They expect the company to post a final loss in 2020, before turning a profit of US$55m in 2021. So, GEMP is predicted to breakeven approximately 2 years from now. How fast will GEMP have to grow each year in order to reach the breakeven point by 2021? Working backwards from analyst estimates, it turns out that they expect the company to grow 69% year-on-year, on average, which is extremely buoyant. If this rate turns out to be too aggressive, GEMP may become profitable much later than analysts predict. Underlying developments driving GEMP’s growth isn’t the focus of this broad overview, though, take into account that typically a biotech has lumpy cash flows which are contingent on the product type and stage of development the company is in. This means, large upcoming growth rates are not abnormal as the company is beginning to reap the benefits of earlier investments. Before I wrap up, there’s one aspect worth mentioning. GEMP currently has no debt on its balance sheet, which is quite unusual for a cash-burning biotech, which usually has a high level of debt relative to its equity. This means that GEMP has been operating purely on its equity investment and has no debt burden. This aspect reduces the risk around investing in the loss-making company. This article is not intended to be a comprehensive analysis on GEMP, so if you are interested in understanding the company at a deeper level, take a look atGEMP’s company page on Simply Wall St. I’ve also compiled a list of essential aspects you should further research: 1. Historical Track Record: What has GEMP's performance been like over the past? Go into more detail in the past track record analysis and take a look atthe free visual representations of our analysisfor more clarity. 2. Management Team: An experienced management team on the helm increases our confidence in the business – take a look atwho sits on Gemphire Therapeutics’s board and the CEO’s back ground. 3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Snoop Dogg shames Paul Gazza Gascoigne for physical effects of alcohol abuse Snoop Dogg has upset fans of Paul Gascoigne for using him as a poster boy for alcohol abuse. (Credit: PA/AP) Snoop Dogg has used Paul Gascoigne to brag about how smoking marijuana has not effected his looks. The Gin And Juice rapper apparently ridiculed Gazza’s ill health as a result of years of alcohol abuse by comparing pictures of himself and the former footballer on Instagram. Snoop, 47, posted pictures of himself and Gazza aged 20 beside pictures of them both aged 47 captioned “Alcohol Abuse” and “Marijuana Abuse”. Read more: Paul Gascoigne Had 14 Lines Of Cocaine Before Taking Chicken And Fishing Rod To Raoul Moat View this post on Instagram A post shared by snoopdogg (@snoopdogg) on Jun 26, 2019 at 2:14pm PDT Gascoigne, 52, has battled alcoholism and mental illness for many years, last entering rehab in 2017. Snoop - real name Calvin Broadus Jr - has always been public about his recreational use of marijuana use and recently set up Leafs By Snoop, a company selling medical and recreational marijuana-related products. The rapper has come under fire for using Gazza’s image, with social media users branding him insensitive and others pointing out that the footballer’s battle with addiction has also included cocaine and other drugs, as well as alcohol. One wrote on Instagram: “Snoop Dogg is cold for posting this” snoopdogg wants to check himself for this one...Snoop you aint welcome in England 🏴󠁧󠁢󠁥󠁮󠁧󠁿 no more, this one ain’t right, clearly snoop don’t know about Gazza’s battle... #paulgascoigne #gazza #oneofourfootballingheroes https://t.co/gDs8cNQQb0 — Kurt Cornwell (@KurtCornwell) June 27, 2019 Snoop Dogg went in on Gazza looool. His post was false though. Gazza has been on a lot of coke not just alcohol. — Eden Hazard (@SplashBruvas) June 27, 2019 Another tweeted: “Snoop Dogg trying his best but it's a fail..Gazza has also spent years on the coke n probably just about anything else hes managed to get his hands on ...so nice try but that pic is just as much drugs as alcohol [sic]” Story continues Read more: Snoop Dogg offers to adopt dog called Snoop Gascoigne famously went to the aid of murderer Raoul Moat when he was engaged in an armed stand-off with police in Northumberland in 2010. Gazza later revealed in an interview he had been drinking and snorted 14 lines of cocaine while watching the story of fugitive Moat unfold on the news before he decided to go to his rescue. Gascoigne has not reacted to Snoop’s post.
If You Had Bought Planet Health (CVE:PHL.H) Stock Three Years Ago, You'd Be Sitting On A 83% Loss, Today Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Every investor on earth makes bad calls sometimes. But you have a problem if you face massive losses more than once in a while. So spare a thought for the long term shareholders ofPlanet Health Corp.(CVE:PHL.H); the share price is down a whopping 83% in the last three years. That would certainly shake our confidence in the decision to own the stock. The silver lining is that the stock is up 17% in about a week. While a drop like that is definitely a body blow, money isn't as important as health and happiness. View our latest analysis for Planet Health Planet Health hasn't yet reported any revenue yet, so it's as much a business idea as an actual business. We can't help wondering why it's publicly listed so early in its journey. Are venture capitalists not interested? So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. Investors will be hoping that Planet Health can make progress and gain better traction for the business, before it runs low on cash. We think companies that have neither significant revenues nor profits are pretty high risk. There is usually a significant chance that they will need more money for business development, putting them at the mercy of capital markets. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some companies like this go on to deliver on their plan, making good money for shareholders, many end in painful losses and eventual de-listing. Some Planet Health investors have already had a taste of the bitterness stocks like this can leave in the mouth. Our data indicates that Planet Health had CA$559,109 more in total liabilities than it had cash, when it last reported in March 2019. That makes it extremely high risk, in our view. But with the share price diving 45% per year, over 3 years, it's probably fair to say that some shareholders no longer believe the company will succeed. You can see in the image below, how Planet Health's cash levels have changed over time (click to see the values). The image below shows how Planet Health's balance sheet has changed over time; if you want to see the precise values, simply click on the image. Of course, the truth is that it is hard to value companies without much revenue or profit. Would it bother you if insiders were selling the stock? It would bother me, that's for sure. It only takes a moment for you tocheck whether we have identified any insider sales recently. While the broader market gained around 1.1% in the last year, Planet Health shareholders lost 13%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Unfortunately, longer term shareholders are suffering worse, given the loss of 20% doled out over the last five years. We'd need to see some sustained improvements in the key metrics before we could muster much enthusiasm. You might want to assessthis data-rich visualizationof its earnings, revenue and cash flow. But note:Planet Health may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA 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.
Should You Worry About Global Indemnity Limited's (NASDAQ:GBLI) CEO Salary Level? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Cynthia Valko has been the CEO of Global Indemnity Limited (NASDAQ:GBLI) since 2011. This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. Then we'll look at a snap shot of the business growth. And finally we will reflect on how common stockholders have fared in the last few years, as a secondary measure of performance. This process should give us an idea about how appropriately the CEO is paid. View our latest analysis for Global Indemnity According to our data, Global Indemnity Limited has a market capitalization of US$402m, and pays its CEO total annual compensation worth US$2.1m. (This is based on the year to December 2018). Notably, that's an increase of 168% over the year before. We think total compensation is more important but we note that the CEO salary is lower, at US$800k. As part of our analysis we looked at companies in the same jurisdiction, with market capitalizations of US$200m to US$800m. The median total CEO compensation was US$1.7m. So Cynthia Valko receives a similar amount to the median CEO pay, amongst the companies we looked at. This doesn't tell us a whole lot on its own, but looking at the performance of the actual business will give us useful context. The graphic below shows how CEO compensation at Global Indemnity has changed from year to year. On average over the last three years, Global Indemnity Limited has shrunk earnings per share by 91% each year (measured with a line of best fit). It achieved revenue growth of 8.0% over the last year. Unfortunately, earnings per share have trended lower over the last three years. The modest increase in revenue in the last year isn't enough to make me overlook the disappointing change in earnings per share. So given this relatively weak performance, shareholders would probably not want to see high compensation for the CEO. We don't have analyst forecasts, but shareholders might want to examinethis detailed historical graphof earnings, revenue and cash flow. With a total shareholder return of 7.1% over three years, Global Indemnity Limited has done okay by shareholders. But they probably don't want to see the CEO paid more than is normal for companies around the same size. Remuneration for Cynthia Valko is close enough to the median pay for a CEO of a similar sized company . The company isn't growing earnings per share, and nor have the total returns inspired us. We doubt shareholders are particularly happy to see that the CEO compensation increased on last year. We do not think the CEO pay is a problem, but it's probably fair to say that many shareholders would like to see improved performance, before any pay rise occurs. CEO compensation is one thing, but it is also interesting tocheck if the CEO is buying or selling Global Indemnity (free visualization of insider trades). Arguably, business quality is much more important than CEO compensation levels. So check out thisfreelist of interesting companies, that have HIGH return on equity and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Finance ministry seeks state fund payout cut amid fears about lending crunch By Manoj Kumar NEW DELHI (Reuters) - India's finance ministry has demanded the social security and pension fund cuts the 8.65 percent annual return it was planning to offer about 85 million member workers, according to a ministry memorandum reviewed by Reuters. The reason is that the yield may not be justified given the fund's performance but two officials with knowledge of the discussions said the bigger factor is concern the high return would hurt the economy by reducing banks' ability to lend at attractive rates. India's Employees' Provident Fund Organization (EPFO), which is administered by the labour ministry, announced just before the recent April-May general election that it would pay the rate for the last financial year ending March 31, 2019, up from 8.55 percent in the previous year. But with inflation around 3 percent, the yield is appealing to those who want to save and is forcing banks to keep their savings deposit rates at similar levels, the officials said. There are also fears that banks will lose deposits to the fund, they added. That is very bad news for borrowers, such as small businesses, who are having to pay double-digit loan rates in an economy that is slowing and where their power to raise prices is constrained. A senior labour ministry official said that the concerns of the finance ministry would be considered and the issue soon resolved. A finance ministry spokesman declined to comment. The high rates on savings are undermining attempts by the Reserve Bank of India to provide stimulus to the economy, which is weakening on a broad number of fronts, through a series of cuts in its benchmark repo rate. The central bank has in aggregate chopped 75 basis points off the rate since February but only about 10-15 basis points has come off bank lending rates in that time. In the memorandum, a finance ministry official tells a counterpart at the labour ministry that the proposed rate of return "is not in line" with the fund's rules. Those rules say that the government needs to make sure it doesn't set an interest rate that is out of kilter with the fund's overall returns. The memo, dated June 12, also notes that the fund may have suffered some losses from its investments in the Infrastructure Leasing & Financial Services group of companies, a financially troubled Indian infrastructure financing company. "Ministry of Labour & Employment is therefore advised to consider a rate of interest for FY 2018-19 which does not fully utilise the surplus of the previous year and leaves a reasonably higher surplus in the account undistributed," adding that the memo is issued with the approval of new Finance Minister Nirmala Sitharaman. The EPFO has so far deferred payment of interest to its members, a labour ministry official said. "The interest rate paid by the EPFO should move in tandem with their earnings from investment in government securities," said Devendra Pant, chief economist at India Rating & Research, the Indian arm of Fitch rating agency. He said yields on government securities were falling, and it would not be prudent for the fund to dip into its reserves to pay higher returns. EPFO, which manages about $190 billion in assets, invested about 5.75 billion rupees ($83.15 million) in the bonds of financially stressed IL&FS, officials said, less than 0.1% of total assets under its management. Nearly one-fifth of India's workforce are EPFO's members, contributing every month a part of their salary which is then matched by their employers. The fund invests more than 85% of the contributions in federal and state securities and highly rated corporate bonds. (Reporting by Manoj Kumar; Editing by Martin Howell and Nick Macfie)
Accenture quarterly profit jumps as digital investments pay off June 27 (Reuters) - Accenture Plc reported a 19.8% rise in quarterly profit on Thursday, as the provider of consulting and outsourcing services continues to receive benefits of digital and cloud services investment. Net income attributable to the company rose to $1.25 billion, or $1.93 per share, in the third quarter ended May 31, from $1.04 billion, or $1.60 per share, a year earlier. Net revenue rose to $11.10 billion from $10.69 billion, ahead of analysts' average estimates of $11.04 billion, according to IBES data from Refinitiv. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Shailesh Kuber)
Does Global Indemnity Limited's (NASDAQ:GBLI) CEO Salary Compare Well With Others? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In 2011 Cynthia Valko was appointed CEO of Global Indemnity Limited (NASDAQ:GBLI). This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. Next, we'll consider growth that the business demonstrates. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. This process should give us an idea about how appropriately the CEO is paid. Check out our latest analysis for Global Indemnity Our data indicates that Global Indemnity Limited is worth US$402m, and total annual CEO compensation is US$2.1m. (This number is for the twelve months until December 2018). That's a notable increase of 168% on last year. While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at US$800k. As part of our analysis we looked at companies in the same jurisdiction, with market capitalizations of US$200m to US$800m. The median total CEO compensation was US$1.7m. So Cynthia Valko is paid around the average of the companies we looked at. While this data point isn't particularly informative alone, it gains more meaning when considered with business performance. The graphic below shows how CEO compensation at Global Indemnity has changed from year to year. Global Indemnity Limited has reduced its earnings per share by an average of 91% a year, over the last three years (measured with a line of best fit). In the last year, its revenue is up 8.0%. Sadly for shareholders, earnings per share are actually down, over three years. And the modest revenue growth over 12 months isn't much comfort against the reduced earnings per share. It's hard to argue the company is firing on all cylinders, so shareholders might be averse to high CEO remuneration. We don't have analyst forecasts, but you might want to assessthis data-rich visualizationof earnings, revenue and cash flow. With a total shareholder return of 7.1% over three years, Global Indemnity Limited has done okay by shareholders. But they probably don't want to see the CEO paid more than is normal for companies around the same size. Remuneration for Cynthia Valko is close enough to the median pay for a CEO of a similar sized company . We feel that earnings per share have been a bit disappointing, but and we don't think the total returns are amazing. We doubt shareholders are particularly happy to see that the CEO compensation increased on last year. We do not think the CEO pay is a problem, but it's probably fair to say that many shareholders would like to see improved performance, before any pay rise occurs. So you may want tocheck if insiders are buying Global Indemnity shares with their own money (free access). Arguably, business quality is much more important than CEO compensation levels. So check out thisfreelist of interesting companies, that have HIGH return on equity and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Vivendi's shares fall as concerns mount of hitches to UMG stake sale PARIS (Reuters) - Vivendi's <VIV.PA> shares fell on Thursday, which traders attributed to a media report of a possible hitches to its planned sale of a stake in its Universal Music Group division. Traders cited an article in industry publication Digital Music News that said Vivendi's UMG sale plan could be delayed into 2020. Vivendi's shares were down 2.8% in mid-session trading. Officials at Vivendi could not be immediately reached for comment on the report. In May, Vivendi said the possible UMG stake sale was proceeding in line with the company's own planned timetable, but did not give more specific details. Vivendi plans to sell the UMG stake, which some analysts have valued at 40 billion euros ($45.5 billion), to maximize the music arm's value and help fund purchases of other businesses. (Reporting by Blandine Henault; Editing by Sudip Kar-Gupta)
Newsflash: Crypto Market Plummets $58 Billion as Major Coins Drop 30% in Bloodletting The global cryptocurrency market lost $58 billion in a flash crash on Thursday morning as bitcoinmakes a retreat. The combined value of the world’s cryptocurrencies dropped from $386 billion to $328 billion - a 14.9% loss overall. Just hours previously Bitcoin had been flirting with the $14,000 mark; now, BTC is struggling to keep a foothold on $11,500. Worst affected was the altcoin market, which saw one cryptocurrency lose in excess of 30% in a flash. Major cryptocurrencies didn’t avoid the carnage either, with Litecoin, EOS and Bitcoin SV all losing close to, or in excess of 20%. Minor altcoins bled out profusely on Thursday morning. Among the cryptos listed on CoinMarketCap’s front page, Energi (NRG) took the worst hit. NRG traded at a price of $9.43 on Wednesday evening. Just over twelve hours later and it had lost 32.6% of its value, falling to $6.35. Read the full story on CCN.com.
Accenture's fall in bookings dampens upbeat quarterly profit, forecast By Vibhuti Sharma and Sayanti Chakraborty (Reuters) - Consulting and outsourcing services provider Accenture Plc reported a 9% fall in quarterly bookings on Thursday, overshadowing better-than-expected third-quarter results and an upbeat full-year forecast. New bookings at the company, which gets about half of its revenue from outside the United States, were $10.6 billion, down from $11.7 billion in the year ago quarter, due to a 4% hit from a stronger dollar. "We suspect bookings will be back in the spotlight despite sound reported results," Darrin Peller, an analyst from Wolfe Research said. On a post-earnings call with analysts, Chief Financial Officer KC McClure said she expected bookings to recover in the current quarter. "As you know, quarterly bookings can be lumpy... Looking forward, we have a very strong pipeline, and we expect strong bookings in Q4," McClure said. Shares of the company, which competes with Cognizant and major Indian IT companies such as Tata Consultancy Services and Wipro, were down 1.4% in afternoon trading. For the third quarter, Accenture's net income rose about 20% to $1.25 billion, or $1.93 per share, and beat analysts' average estimate of $1.89, according to IBES data from Refinitiv. The beat was driven by the company's focus on digital and cloud services, which include everything from managing clients' social media marketing strategies to helping them move to the cloud, as the IT services industry struggles with falling margins. Revenue from digital, cloud and security-related services, which Accenture calls "the New", contributed more than 60% of its total revenue in the third quarter. "All of our growth, and this is by design, comes from our rotation to "the New," interim Chief Executive Officer David Rowland said. Revenue rose to $11.10 billion from $10.69 billion, ahead of analysts' average estimates of $11.04 billion. For the full-year, the Dublin, Ireland-based company now expects revenue growth to be in the range of 8% to 9%, compared with previous forecast of a growth of 6.5% to 8.5%. It expects to post profit between $7.28 per share to $7.35 per share, up from $7.18 to $7.32 per share it estimated earlier. Up to Wednesday's close, Accenture's shares have risen 30% this year, higher than the 20% gains of the five-member S&P 500 IT Consulting & Other Services index. (Reporting by Vibhuti Sharma and Sayanti Chakraborty in Bengaluru; Editing by Shailesh Kuber)
A Holistic Look At Pentair plc (NYSE:PNR) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Pentair plc (NYSE:PNR) is a company with exceptional fundamental characteristics. Upon building up an investment case for a stock, we should look at various aspects. In the case of PNR, it is a dependable dividend-paying company with a a strong track record of delivering benchmark-beating performance. In the following section, I expand a bit more on these key aspects. For those interested in digger a bit deeper into my commentary, read the fullreport on Pentair here. Over the past year, PNR has grown its earnings by 98%, with its most recent figure exceeding its annual average over the past five years. In addition to beating its historical values, PNR also outperformed its industry, which delivered a growth of 28%. This is an optimistic signal for the future. PNR is also a dividend company, with ample net income to cover its dividend payout, which has been consistently growing over the past decade, keeping income investors happy. For Pentair, there are three important factors you should further examine: 1. Future Outlook: What are well-informed industry analysts predicting for PNR’s future growth? Take a look at ourfree research report of analyst consensusfor PNR’s outlook. 2. Financial Health: Are PNR’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out ourfinancial health checks here. 3. Other Attractive Alternatives: Are there other well-rounded stocks you could be holding instead of PNR? Exploreour interactive list of stocks with large potentialto get an idea of what else is out there you may be missing! We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Is FirstService Corporation (TSE:FSV) Worth US$124 Based On Its Intrinsic Value? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In this article we are going to estimate the intrinsic value of FirstService Corporation (TSE:FSV) by taking the expected future cash flows and discounting them to their present value. I will use the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple! Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in theSimply Wall St analysis model. Check out our latest analysis for FirstService We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: [{"": "Levered FCF ($, Millions)", "2019": "$114.49", "2020": "$129.65", "2021": "$131.00", "2022": "$156.00", "2023": "$173.00", "2024": "$186.53", "2025": "$197.84", "2026": "$207.39", "2027": "$215.60", "2028": "$222.84"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x3", "2020": "Analyst x3", "2021": "Analyst x1", "2022": "Analyst x1", "2023": "Analyst x1", "2024": "Est @ 7.82%", "2025": "Est @ 6.06%", "2026": "Est @ 4.83%", "2027": "Est @ 3.96%", "2028": "Est @ 3.36%"}, {"": "Present Value ($, Millions) Discounted @ 8.43%", "2019": "$105.59", "2020": "$110.28", "2021": "$102.77", "2022": "$112.87", "2023": "$115.44", "2024": "$114.79", "2025": "$112.29", "2026": "$108.56", "2027": "$104.09", "2028": "$99.22"}] Present Value of 10-year Cash Flow (PVCF)= $1.09b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 1.9%. We discount the terminal cash flows to today's value at a cost of equity of 8.4%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = US$223m × (1 + 1.9%) ÷ (8.4% – 1.9%) = US$3.5b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= $US$3.5b ÷ ( 1 + 8.4%)10= $1.56b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $2.65b. In the final step we divide the equity value by the number of shares outstanding. This results in an intrinsic value estimate in the company’s reported currency of $70.09. However, FSV’s primary listing is in Canada, and 1 share of FSV in USD represents 1.312 ( USD/ CAD) share of TSX:FSV,so the intrinsic value per share in CAD is CA$91.99.Compared to the current share price of CA$124.12, the company appears potentially overvalued at the time of writing. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind. The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at FirstService as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.4%, which is based on a levered beta of 1.087. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Whilst important, DCF calculation shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. What is the reason for the share price to differ from the intrinsic value? For FirstService, There are three relevant factors you should further research: 1. Financial Health: Does FSV have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does FSV's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of FSV? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every CA stock every day, so if you want to find the intrinsic value of any other stock justsearch here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Auryn Arranges $1.9 million Flow-Through Funding VANCOUVER, CA / ACCESSWIRE / June 27, 2019 / Auryn Resources Inc. (TSX: AUG, NYSE AMERICAN: AUG) ("Auryn" or the "Company")is pleased to announce that it has arranged a CAD $1.9 million non-brokered flow-through private placement. The placement will consist of approximately 633,334 flow-through common shares (the "FT Shares") priced at CAD $3.00 per FT Share (the "Offering"). Ivan Bebek, Executive Chairman & Director: "With less than 1% dilution of our company, we are able to finance the core drilling of some of our highly prospective high-grade gold targets at Committee Bay this summer. We are very excited to further test the efficacy of artificial intelligence, which was utilized to assist in refining our drill targets. Drilling is anticipated to commence in July. "Additionally, with the completion of this equity financing, Auryn's Canadian portfolio is now fully funded for its 2019 programs." The Company intends to use the net proceeds from the Offering to fund its summer exploration program at the Committee Bay gold project in Nunavut. The FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of theIncome Tax Act(Canada)) and will be sold on a charitable flow-through basis. The gross proceeds of the sale of the Offering will be used to fund "Canadian exploration expenses" (within the meaning of theIncome Tax Act(Canada)) to be incurred by no later than December 31, 2020 for renunciation to investors in the Offering effective December 31, 2019. The shares under the Offering will be subject to a four-month hold period and will not be offered or registered in the United States. Closing of the Offering is anticipated to occur on or before July 9, 2019 and is subject to customary closing conditions including, but not limited to; the negotiation, execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the Toronto Stock Exchange. ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC. Ivan BebekExecutive Chairman For further information on Auryn Resources Inc., please contact Natasha Frakes, Manager of Corporate Communications at (778) 729-0600 orinfo@aurynresources.com. About Auryn Auryn Resources is a technically-driven, well-financed junior exploration company focused on finding and advancing globally significant precious and base metal deposits. The Company has a portfolio approach to asset acquisition and has seven projects, including two flagships: the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project in southern Peru. Auryn's technical and management teams have an impressive track record of successfully monetizing assets for all stakeholders and local communities in which it operates. Auryn conducts itself to the highest standards of corporate governance and sustainability. About Committee Bay The Committee Bay Gold Project is located in Nunavut, Canada. It includes approximately 300,000 hectares situated along the Committee Bay Greenstone Belt (CBGB). High-grade gold occurrences are found throughout the 300 km strike length of the Committee Bay Gold Belt with the most significant being the Three Bluffs deposit. The project benefits from existing infrastructure, including bulk storage fuel facilities, five high-efficiency drill rigs and a 100-person camp. The Committee Bay project is held 100% by Auryn subject to a 1% Net Smelter Royalty ("NSR") on the entire project and an additional 1.5% NSR on a small portion of the project. Forward Looking Information and Additional Cautionary Language This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information is information that includes implied future performance and/or forecast information including information relating to or associated with the acquisition and title to mineral concessions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended December 31, 2018 and subsequent continuous disclosure filings with the Canadian Securities Administrators available atwww.sedar.comand the Company's registration statement on Form 40-F filed with the United States Securities and Exchange Commission and available atwww.sec.gov. US Investors This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. SOURCE:Auryn Resources Inc. View source version on accesswire.com:https://www.accesswire.com/550068/Auryn-Arranges-19-million-Flow-Through-Funding
Five reasons this Bitcoin bull run could stomp all over 2017 When the price of Bitcoin tore its way to almost $20,000 in December 2017, the bull run was fuelled mainly by retail FOMO. Hardly anyone buying it knew what it was or how it worked. They just saw it rising in value and making a lot of people rich overnight. But Bitcoin wasn’t ready for wide adoption. Transactions were bottlenecked, fees were high, scams were abundant, and the legal panorama was fuzzy at best. However, a lot has changed since then. Here are at least five reasons the Bitcoin bull run is different from 2017. 1) The market fundamentals are much stronger I received an email yesterday with a report from SFOX – an institutional crypto assets dealer – revealing why Bitcoin’s current $11,000 is different from 2017. Today, it’s heading for $13,000, and who knows what tomorrow will bring? While it looks like analyst Tom Lee may have been right predicting that retail FOMO would kick in at over $10,000, this new Bitcoin bull run is far more likely to last longer. Actually the point of the chart is to say “real FOMO” probably starts when #bitcoin exceeds $10,000 as that is a price level only seen 3% of all days… …mathematically equivalent to exceeding $BTC $4,500 in 2017 Looking back, that price was a level that indeed triggered FOMO — Thomas Lee (@fundstrat) May 29, 2019 The industry is so much better placed than it was in 2017. Throughout the bear market, Bitcoin has been building. Usage is up, as is transaction speed, hash rate, and block sizes. These are all key for onboarding more users without the issues suffered a year and a half ago. Better than that, transaction fees are down by 68%. Story continues Bitcoin first hit $9,000 USD on Nov 27, 2017. Now that Bitcoin is back at $9,000, what has changed? pic.twitter.com/TY5RMQecES — Kevin Rooke (@kerooke) June 17, 2019 You may notice that payments and volume are down as well. But these are key indicators that Bitcoin has transformed from a payment system to a store of value. More people are HODLing than before, and there ain’t no one buying a pizza with BTC. 2) There are far fewer scams this time around In 2017, cryptocurrency was still being referred to as the “Wild West”. When people heard the word Bitcoin for the first time, their minds often leapt to the dark web, hackers, or clandestine dealings. Bitcoin had yet to receive the official nod from the US SEC that it was not considered a security under its draconian laws. And people were being conned out of their funds left, right, and centre. It’s true that you still have to be careful out there. In the first quarter of 2019 alone, already more than $1.2 billion worth of cryptocurrency has been stolen through fraud. However, security has improved greatly, usability is better, people are taking more time to educate themselves, and Bitcoin is finally casting aside its connotations of criminal deeds . 3) Big businesses are on board and lending credibility In 2017, big businesses were staying away from Bitcoin, with the notable exception of Microsoft and a handful of others. We had the head of JP Morgan Jamie Dimon calling Bitcoin “stupid” and all large banks urging customers to stay away. In 2019, JP Morgan has its own cryptocurrency (if you want to call it that) and, rather than just accepting payments in Bitcoin, Microsoft is now building on the Bitcoin blockchain. Then there’s Whole Foods, eBay, and, of course, Facebook . SFOX states: “The current rally corresponds with at least two major news items for retail and institutional investors: details of Facebook’s crypto project, Libra, and BTC mining company Bitmain’s pursuit of a US IPO. This is the kind of validation for the sector that was largely hypothetical back in 2017.” 4) Institutional investment is reaching an all-time high Just like big businesses, in 2017, institutions were still looking on at this whole new asset class with a mix of awe and caution. Today, accredited investors and institutions are getting in at a premium. They’re literally scrambling to scoop up Bitcoin before it’s too late. In other words, institutions are FOMO-ing in. Bitcoin is trading at over $11,000 on Bitcoin Invesment Trust (GBTC) with a 37% premium over exchanges. AUM of GBTC alone surpassed $1.2 billion this week. Seems like a strong indicator of a rise in interest from accredited and institutional investors. @barrysilbert pic.twitter.com/SU87zuetch — Joseph Young (@iamjosephyoung) May 29, 2019 In 2017, we had CBOE and CME about to launch their Bitcoin futures products, several hedge funds, and a few blockchain investment firms, but zero major names. Now, firms like Fidelity are storing Bitcoin, Bakkt is entering the space at some point, and major firms like TD Ameritrade are trading it. This Bitcoin bull run is nothing like the last and could have real legs. 5) Bitcoin is being debated at the highest level Bitcoin has now overcome the first hurdle, which was the SEC stating that it was not under its purvue. Yet meaningful regulation has yet to take shape in most corners of the world. However, there are countries like Malta and states like Wyoming blazing the trail as Bitcoin and blockchain-friendly. The conversation about this digital asset has extended beyond dinner parties all the way up to the US Congress. Democratic party presidential candidate hopeful Andrew Yang has even pledged to push through the Token Taxonomy Act in the US if he gets voted in. This will exempt many cryptocurrencies from being labelled securities in the United States. This Bitcoin bull run could easily surpass that of 2017 While there are never any certainties when it comes to investing, be it the stock market or cryptocurrencies, this wild price run is definitely different from that of 2017. Bitcoin has done a lot of growing up since then, and the dialogue has reached the highest places. Major corporations are entering the space, institutions are racing to get in on the action, and now it seems that retail traders are interested once more to see just how high this could go. The post Five reasons this Bitcoin bull run could stomp all over 2017 appeared first on Coin Rivet .
Young female doctors are at high risk for burnout and “self-care” is not the answer “Eat when you can, sleep when you can, pee when you can, and don’t mess with the pancreas.” Every surgeon trainee knows this phrase. It’s the mantra passed down through generations of surgeons trying to survive the earliest years. It’s also symbolic of how the US medical system rewards behavior that leads to burnout. The Ethiopian Airlines 737 Max crash could warrant historic punitive damages against Boeing Recent studies reveal that more than half of doctors report symptoms of burnout. Suicide rates are twice as high among physicians compared to other professions. Even more alarming is that female doctors are 1.6 times more likely than male doctors to die by suicide. Women everywhere are particularly vulnerable to burnout , which is defined as emotional exhaustion, cynicism, and a low sense of accomplishment. One study shows that women experience more depressive symptoms during their first year of physician training. White supremacists and anti-fascists head to DC ahead of Trump’s July 4 celebration Another study evaluating why women leave the surgical field identifies several key reasons: the impact of pregnancy, childbirth, and child-rearing; an insufficient number of female role models; sexism and discrimination; sexual harassment and assault; and poor mental health. As female physicians, we weren’t surprised by these findings. Many of us have experienced it personally, or know female colleagues who have dealt with discrimination, bullying, overt sexism, and institutional roadblocks. One colleague told us that when she was in training, nine months pregnant, and in the middle of finishing a surgery—after a 12-hour day in the operating room—a janitor remarked that she had better maternity benefits than the surgeon. Numerous state medical licensure boards violate the Americans with Disabilities Act by asking physicians every few years to reveal whether they have ever endured a mental illness. We know many female physicians who have been forced to breast pump in secluded medical supply closets because they aren’t given offices, and many hospitals don’t have lactation rooms . Other female doctors noted that despite their best efforts, such as “dressing the part” and introducing themselves as “doctor,” they often have to remind patients that they are, in fact, the physician in the room. In fact, another colleague reported that despite making a point to wear a badge that read “DOCTOR” in inch-tall red letters, she was asked by a medical student to clean his patient’s vomit. Story continues Women physicians are frustrated, and justifiably so. They are less likely to get patient referrals than men in the same specialty, and at the end of the year women bring home, on average, $105,000 less than their male counterparts . These disadvantages, and many more, have caused untold numbers of female physicians to experience burnout or other mental health conditions. This is especially problematic because all physicians have limited protections for their privacy if and when they seek mental help. Numerous state medical licensure boards violate the Americans with Disabilities Act by asking physicians every few years to reveal whether they have ever endured a mental illness. Women are particularly likely to struggle with mental health problems. One in nine women in the US experiences postpartum depression . While physicians with postpartum depression may not be impaired from performing their professional duties, many opt to avoid counseling or pay out of pocket for counseling out of fear that seeking help might result in discrimination when applying for medical licensure, hospital privileges, or malpractice insurance. Young, entry-level women physicians are most at risk. They have an average of $190,000 in medical school debt , are often too young to have developed good coping mechanisms, and are of childbearing age. They have the least amount of schedule flexibility, usually cannot afford to pay out of pocket for mental health care treatments, and are trained to think that asking for help demonstrates weakness. What hurts doctors hurts everyone Physician burnout doesn’t just affect doctors­—it is detrimental to the entire health system, and everyone who uses it. Burnout costs the U.S. health care industry $17 billion each year . The American Medical Association reports that each physician lost to burnout costs the system $500,000 to $1 million. Researchers have shown that burnout is associated with a two-fold increase in unsafe patient care, unprofessional behavior, and low patient satisfaction. In fact, patients treated by burned out intensive care physicians have higher mortality rates . Fixing burnout has historically been cast on the individual and focused on improving “self care.” This further isolates doctors who are overwhelmed. Upon hearing that it’s up to the individual physician to solve burnout, a colleague joked, “Are you saying if I yoga harder, this will fix the problem?” No. Burnout is a systemic issue that requires large, system-wide changes. Hospital leadership and the medical community need to recognize the issues unique to women. Each state should take steps to change medical board licensure systems to protect the privacy of physicians who are responsible enough to seek mental health services. Medical training should include practical education about burnout detection and prevention, and the importance of peer support. Residency training programs need to build systems that support family leave policies that are in line with state and federal allowances. We have to create a society where physicians who ask for help are not given a scarlet letter. Learning from professions with far less burnout encourages us to curb burnout by giving physicians more control over schedules and empowerment within a bureaucratic system. Women physicians, who already manage a disproportionate amount of home duties and child rearing , are primed to benefit from increased control of their own work hours. Jim Morrison, of The Doors, said, “You can’t burn out if you’re not on fire.” Women doctors have been “on fire” for years, operating at a high level and even exceeding male peers , to the point of emotional and mental exhaustion. It’s time to stop the burnout. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Five reasons English speakers struggle to learn other languages Ten days of utter silence pulled me back from the brink of a mental breakdown
Is VWALX a Strong Bond Fund Right Now? Muni - Bonds fund seekers should consider taking a look at Vanguard High-Yield Tax-Exempt Admiral (VWALX). VWALX bears a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance. Objective Zacks categorizes VWALX as Muni - Bonds, which is a segment packed with options. Muni - Bonds funds invest in debt securities issued by states or local municipalities. These are generally used to finance construction of infrastructure, pay for schools, or other government functions. Some are backed by taxes (revenue bonds), while others are " general obligation " and may not be backed by a defined source. Investors usually appreciate the tax benefits that come with many municipal bonds, which are especially impressive for those in high tax brackets. History of Fund/Manager Vanguard Group is responsible for VWALX, and the company is based out of Malvern, PA. Vanguard High-Yield Tax-Exempt Admiral made its debut in November of 2001, and since then, VWALX has accumulated about $12.66 billion in assets, per the most up-to-date date available. The fund is currently managed by Mathew M. Kiselak who has been in charge of the fund since July of 2010. Performance Obviously, what investors are looking for in these funds is strong performance relative to their peers. VWALX has a 5-year annualized total return of 4.7% and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 4.06%, which places it in the top third during this time-frame. When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 5.98%, the standard deviation of VWALX over the past three years is 3.97%. The standard deviation of the fund over the past 5 years is 3.4% compared to the category average of 6.05%. This makes the fund less volatile than its peers over the past half-decade. Bond Duration Modified duration is a measure of a given bond's interest rate sensitivity, and is a metric that's a good way to judge how fixed income securities will respond in a shifting rate environment. If you believe interest rates will rise, this is an important factor to look at. VWALX has a modified duration of 7.07, which suggests that the fund will decline 7.07% for every hundred-basis-point increase in interest rates. Income It is important to consider the fund's average coupon because income is often a big reason for purchasing a fixed income security. This metric takes a look at the average payout by the fund in a given year. For example, this fund's average coupon of 5.02% means that a $10,000 investment should result in a yearly payout of $502. While a higher coupon is good for when you want a strong level of current income, it could present a reinvestment risk if rates are lower in the future when compared to the initial purchase date of the bond. Investors also need to consider risk relative to broad benchmarks, as income is only one part of the bond picture. VWALX carries a beta of 1.13, meaning that the fund is more volatile than a broad market index of fixed income securities. With this in mind, it has a positive alpha of 0.76, which measures performance on a risk-adjusted basis. Ratings Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, VWALX has 25.56% in high quality bonds rated at least 'AA' or higher, while 58.18% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of A, and focuses on high quality securities. Expenses As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, VWALX is a no load fund. It has an expense ratio of 0.09% compared to the category average of 0.85%. Looking at the fund from a cost perspective, VWALX is actually cheaper than its peers. Investors should also note that the minimum initial investment for the product is $50,000 and that each subsequent investment needs to be at $1. Bottom Line Overall, Vanguard High-Yield Tax-Exempt Admiral ( VWALX ) has a high Zacks Mutual Fund rank, strong performance, average downside risk, and lower fees compared to its peers. Want even more information about VWALX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are. 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 reportGet Your Free (VWALX): Fund Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
CVS, Payless and Victoria's Secret are just some of the brands closing stores in 2019 This year is already on track to be a big one for store closings. Based on figures from global marketing research firmCoresight Research, bankruptcy filings and company earnings reports, more than 7,000 stores are already slated to be shuttered. Payless ShoeSourceaccounts for the largest number of closings with 2,590 stores, which are holding liquidation sales.Some stores closed in Marchand the company said others would close in May.Some locations are staying open a little longer than expected and closing in June. In 2018, Coresight tracked 5,528 closings, which included all Toys R Us locations, plus hundreds of Mattress Firm stores, Kmart and Sears locations, and Brookstone's remaining mall stores. Coresight said 2017 marked the record year for closings with 8,139 shuttered stores. This included an earlier round of Payless closings, the entire HHGregg electronics and appliance chain, and hundreds of Sears and Kmart stores. Is Toys R Us making a comeback?:A year after stores closed, there's talk of new locations Dressbarn store closings:Retailer plans to start closing all of its nearly 650 stores The first quarter of the year is historically the busiest for closings announcements, said Drew Myers, senior consultant with real-estate data firm CoStar Group, which looks at the size of stores when analyzing closings. Square footage is a “really good gauge on the health of the retail market from a real estate standpoint,” Myers said. When square footage is taken into account, 2018 marks the top year for closings, with 155 million square feet of affected retail space. “When you think about 2018, about 75 percent of that square footage announced for closures comes from Sears, Kmart, Toys R Us and Bon Ton,” he said. Nine weeks into this year, 30 million square feet in closings has already been announced, CoStar's data shows, a far cry from 2018. The difference in this year's closings so far is fewer big box stores and more smaller chains affected, Myers said. “These are retailers that may certainly lead us to a higher number of closings overall," he said, "but in terms of the square footage of the retail market they may not move the needle that much." Bed Bath & Beyond store closings:Retailer plans to close at least 40 stores this year but open 15 new locations CVS closing 46 stores:See the list of struggling locations that are going away Some of the announced closures may carryover into 2020, which was the case with several closings announced in late 2018 such asLowe's,Sears and Kmart. Gap Inc. announced Feb. 28 it would close roughly 230 stores over two years. Payless ShoeSource:2,589 (includes 248 Canada locations and 114 smaller-format stores in Shopko Hometown locations). Gymboree/Crazy 8:749 Dressbarn: 649.Here are the stores closings in June and July. Charlotte Russe:494 Things Remembered:422 Ascena Retail:400 Family Dollar:As many as 390 stores Shopko:Originally251 stores were scheduled to close, but on March 18 the company said it willclose all of its remaining locations by June. GNC:233 Gap:Roughly 230 in next two years LifeWay Christian Resources:All 170 stores. Foot Locker:165; total includes closings outside of the U.S. Fred's:313;159 stores were announced in the first round;104 additional stores announced May 16will close in June; and a third round with49 stores was announced June 21. Signet Jewelers:The parent company of Kay, Zales and Jared said it would close another 150 stores. Tesla:Number of closings hasn't been confirmed.Tesla initially said it was shifting sales onlineand would close locations butlater reversed the decision. Pier 1 Imports:Up to 145 stores could close, officials said, butfor now 57 are planned for the fiscal year. Destination Maternity:117 Amazon pop-up stores:87 (locations in stores like Kohl's and Whole Foods) Chico's:83 Sears:72 Victoria's Secret:53 Vera Bradley:50 Kmart:48 CVS:46 Party City:45 The Children's Place:40-45 Bed Bath & Beyond:40 J.C. Penney:27 Bath & Body Works:24 Henri Bendel:All 23 stores Southeastern Grocers:22 E.L.F. Beauty:All 22 stores Saks Off 5th:20 Lowe's:20 Topshop:All 11 U.S. stores Macy's:8 Target:6 J.Crew:5 Kohl's:4 Nordstrom:3 Whole Foods:1 Calvin Klein:1 Pottery Barn:1 Williams-Sonoma:1 Source:Coresight Research; staff research Charlotte Russe:All stores closing and starting liquidation Store closings:Firm forecasts 'No light at the end of the tunnel' Follow USA TODAY reporter Kelly Tyko on Twitter:@KellyTyko This article originally appeared on USA TODAY:CVS, Payless and Victoria's Secret are just some of the brands closing stores in 2019
Apple Officially Enters Self-Driving Vehicle Space With Latest Acquisition This article was originally published onETFTrends.com. Apple has officially entered the nascent, but soon-to-be competitive space of autonomous vehicles with the purchase of startup Drive.ai. The Silicon Valley startup raised $77 million in venture funding at a $200 million valuation, according to Pitchbook data. Apple was already in the exploratory stages of entering the self-driving vehicle space with an initiative known as Project Titan, but in January, Apple cut over 200 employees from this project. In turn, Apple hired a number of Drive.ai engineers and purchased its vehicles. Prior to the purchase, Apple doubled the number of self-driving test cars in the streets of California. In March of this year, Apple had 45 autonomous test vehicles registered with the state’s Department of Motor Vehicles, which is up from 27 near the end of January. Per a report by Axios, the "purchase price was not disclosed. Apple was expected to pay less than the $77 million Drive.ai raised in venture capital, to say nothing of the $200 million it was valued at two years ago, after its Series B round,Axios' Dan Primack reported recently." Drive Towards Gains with this ETF The disruptive exchange-traded fund (ETF) space continues to grow and investors can now take advantage of self-driving, electric vehicle technology via theiShares Self-Driving EV and Tech ETF (IDRV) . Per theiShares website, the fund will provide prospective investors with: • Access to companies at the forefront of self-driving and electric vehicle (EV) innovation • Exposure to global stocks along the full value chain of self-driving and EV industries, across sectors and geographies • Seek long-term growth with access to companies that can shape the global economic future IDRV seeks to track the investment results of an index composed of developed and emerging market companies that may benefit from growth and innovation in and around electric vehicles, battery technologies and autonomous driving technologies. Specifically, it tracks the NYSE FactSet Global Autonomous Driving and Electric Vehicle Index (the “Underlying Index”), which measures the performance of equity securities issued by companies that produce autonomous driving vehicles, electric vehicles, batteries for electric vehicles, or technologies related to such products. With an expense ratio of 0.47 percent, IDRV will invest in domestic and international markets per its prospectus, which states that, "the Underlying Index is composed of equity securities of companies listed in one of 43 developed or emerging market countries that derive a certain specified percentage of their revenue from selected autonomous or electric vehicle-related industries, as defined by IDI." Though the technology itself might still be years away, investors can still capitalize on this nascent space that is already seeing major deals taking place. For example, remote driving startup Phantom Auto raised $13.5 million in seed capital, which will be used to expand a logistics business that will utilize sidewalks, warehouses and cargo yards where autonomy and teleoperation are already used. The ETF launch comes as the move to disruptive technology is making its way into a number of ETF offerings that are looking to capitalize on the next wave of technology. Disruptive technology is not relegated to certain sectors as it will permeate into all industries in some form or fashion. For example, augmented reality is technology comprised of digital images superimposed over the real world, and its use is primed to drive industry growth–industries like real estate and manufacturing are already putting the technology to use in a variety of ways. For more market trends, visitETF Trends. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM • SPY ETF Quote • VOO ETF Quote • QQQ ETF Quote • VTI ETF Quote • JNUG ETF Quote • Top 34 Gold ETFs • Top 34 Oil ETFs • Top 57 Financials ETFs • As Bitcoin Surges Past $13K, Calls to Embrace Crypto Grow • GLDM Marks One Year Anniversary Today, Leads Gold-Backed ETF Flows • ROBO Global Healthcare Technology ETF Debuts on NYSE • Gold And Silver Rally On Unusual Options Activity • Save On Starbucks And Invest It In Starbucks READ MORE AT ETFTRENDS.COM >
States With the Worst Drivers – 2019 Edition Driving gives many Americans expanded access and mobility where they might otherwise have had limited options. But along with the freedom to roam around comes the responsibility of being a prudent driver, not only in terms of personal safety but financial protection as well. Whether it’s a serious accident that results in medical or car repair expenses or a traffic violation fine, mishaps on the road can put a dent in yoursavings account. That’s all the more likely when your neighbors have higher rates of speeding and driving under the influence. To help you become aware of where these negative driving patterns are the most prevalent, SmartAsset took another look at which states have the worst drivers. To find the states in America with the worst drivers, we considered four metrics. We looked at the percentage of drivers who are insured, the number of driving under the influence (DUI) arrests per 1,000 drivers, the number of fatalities per 100,000 vehicle miles driven and how often residents google terms like “traffic ticket” or “speeding ticket.” For more details on our data sources and how we put that information all together to create our final rankings, see the Data and Methodology section below. This is SmartAsset’s third annual study on the states with the worst drivers. See the2018 edition of the study here. Key Findings • The South dominates the list.Once again, the South earns a reputation for bad drivers. Five of the top 10 states in this study are in the American South, including the top two states. No other region comes close to matching this poor driving record. • Only New Mexico moves out of the top 10.Nine of the 10 states at the top of this year’s study were also in the top 10 of our 2018 study. New Mexico left its No. 5 spot in 2018 to move down to 19th-worst overall. The new top-10 state this year is Nevada, which ties for fourth-worst this year but was 14th-worst last year. 1. Mississippi For the second year in a row, Mississippi tops this study and lays claim to the title of state with the worst drivers in the country. Just 76.30% of the drivers in the Magnolia State areinsured, the second-lowest rate in this study. Mississippi has the eighth-highest search volume in our study for driving-related tickets, per Google Trends data. As far as fatalities go in Mississippi, 1.69 people die per 100 million vehicle miles driven, which ties with Kentucky for the second-highest rate in the study. That might be cause to up yourlife insurance policy. On the bright side, there are 3.72 DUI incidents per thousand drivers. That’s the 21st-fewest in this study. 2. Alabama Another Southern state, Alabama, is next. Alabama has the sixth-lowest percentage in our study of insured drivers, just 81.60%. There are 1.82 DUI incidents per 1,000 drivers, which is actually the sixth-lowest rate for this metric in the study. But there are 1.56 fatalities per 100 million vehicle miles driven, though, and that is the sixth-highest rate overall. Google Trends data shows that Alabama also has the fourth-highest rate of searches for driving-related offenses such as speeding and traffic tickets. 3. California California comes next. The Golden State has the sixth-highest rate of searches for speeding and traffic tickets. It also has the 12th-lowest percentage ofinsureddrivers at 84.80%. The risk of for getting in an accident with an insured driver here may be something to discuss with your financial advisor. There are 4.59 DUIs issued per 1,000 drivers (the 15th-highest rate) and 1.13 fatalities per 100 million vehicle miles driven (the 20th-lowest rate). 4. Florida (tie) There is a three-way tie for fourth place, starting with Florida. Just 73.30% of drivers in the Sunshine State have insurance, the lowest rate in the nation. The DUI rate, though, is the eighth-lowest in the country at 2.17 incidents per 1,000 drivers. Florida has the 11th-highest rate of searches for traffic-related tickets. 4. Nevada (tie) Nevada is the next state in the three-way tie for fourth place. Insured drivers make up 89.40% of all drivers in the state, which is a higher percentage than that of 27 other states. Nevada doesn’t fare as well when it comes to DUIs, though – there are 4.94 DUI arrests per 1,000 drivers, the 13th-most in this study. Nevada also has the highest rate of searches for traffic-related tickets according to Google Trends data. You’ve worked hard to build your portfolio with yourwealth management firm, so you don’t want a fender-bender to put a ding in your finances. 4. Texas (tie) The final state in this fourth-place tie is Texas. The state has the ninth-highest rate of searches for traffic-related tickets and comes in the middle of the pack for DUIs per 1,000 drivers, at 3.79. The percentage of insured drivers is 85.90%, the 15th-lowest rate for this metric in the study. In terms of vehicle fatalities in the Lone Star State, 1.40 people are killed per 100 million vehicle miles driven. 7. Arizona Arizona is next with an insurance rate of 88%, which is the 27th-highest rate in the nation. Arizona has 4.68 DUI incidents per 1,000 drivers and 1.45 people killed per 100 million vehicle miles driven. In terms of searches for driving related tickets, Arizona ranks 17th-highest. As you contribute to your401(k)and handle your regular expenses, the last thing you want to do is fork over money to pay for a repair here. So take heed when driving in the Grand Canyon State. 8. Alaska (tie) Tying for eighth place is Alaska. This state has 5.80 DUI incidents per 1,000 drivers. That’s the fifth-most in this study. Furthermore, there are 1.60 fatalities per 100 million vehicle miles driven in Alaska, the fourth-highest rate in the country. On the flip side, the state has the third-lowest rate of searches for traffic-related tickets. Driving styles here could be mirroring a goodretirement investment strategy: relatively slow and steady. 8. Tennessee (tie) Tied with Alaska for the eighth spot for the states with the worst drivers is Tennessee. Just 80% of Volunteer State drivers are insured, the fifth-lowest rate in the country. The state also sees 3.63 DUIs per 1,000 drivers and 1.35 fatalities per 100 million vehicle miles driven. It comes in 14th-highest for rate of searches for driving related tickets, according to Google Trends data. 10. Missouri The final state in our top 10 is Missouri. Insured drivers make up 86% of all drivers in the state, the 16th-lowest rate in the country. There are 4.30 DUIs issued per 1,000 drivers and 1.28 fatalities per 100 million vehicle miles driven. The state ranks 12th-highest for rate of searches for driving-related tickets. Data and Methodology In order to find the states with the worst drivers, we looked at data on all 50 states. Specifically, we looked at data on the following four metrics: • Fatalities per 100 million vehicle miles driven.Data comes from the National Highway Traffic Safety Administration and is from 2016. • Arrests for driving under the influence per 1,000 drivers.Data on DUI arrests comes from the FBI. Data on number of drivers comes from the Department of Transportation. Data is from 2017. • Percentage of drivers who are insured.Data comes from the Insurance Research Council and is from 2017. • Google Trends on driving tickets.This is how often residents in each state google “speeding ticket” and “traffic ticket.” To control for the number of drivers in each state, we compared “speeding ticket” and “traffic ticket” Google Trends data to “gasoline” Google Trends data. We pulled data for the period between May 2018 and May 2019. First, we ranked each state in each of the four metrics. Then we found each state’s average ranking, giving each metric equal weighting. We used the average rankings to create our final score. The state with the best average ranking received a score of 100, while the state with the worst average ranking received a score of 0. Tips For Managing Your Money • Financial road map.Navigating your finances can feel like an endlessly winding road, but a financial advisor can help steer you in the right direction. Find one with SmartAsset’sfree financial advisor matching service. You answer a few questions and we match you with up to three advisors in your area, fully vetted and free of disclosures. You get a chance to talk to each advisor and decide which one you’d like to give the green light. • Buckle down on your budget.If you’re looking to buy a car or purchase car insurance, do you have enough money to pay for it? If you’re not sure, taking a detailed look at your monthly expenses first might be a good idea. SmartAsset’sbudget calculatorcan accelerate the process and help get you where you need to be. • Questions about our study? Contactpress@smartasset.comPhoto credit: ©iStock.com/Milkos The postStates With the Worst Drivers – 2019 Editionappeared first onSmartAsset Blog. • Places Where People Spend the Most on Food - 2019 Edition • Cities Where Renters Can Afford to Live Alone - 2019 Edition • Top 10 Cities for Career Opportunities in 2019
Market Morning: Bitcoin ReBubble, Target India, Hong Kong Keeps Protesting Bitcoin Moves $1,400 Up, $1,400 Down, Speculators Get Woozy Is Bitcoin (BTC-USD) popping again? In both directions? Yup. The digital currency exploded over $1,000 per coin yesterday reaching a high of $13,775 before dropping over $1,400 in the space of about two hours, spurring murmurings of a second echo-bubble bursting in the cryptocurrency sector. Bitcoin trading as a percentage of total cryptocurrency trading volume has increased significantly since April in the meantime, climbing back up above the 60% mark for the first time ever since breaking below it during the introduction of Bitcoin Cash (BCH-USD) and other popular coins. During the previous Bitcoin top in December 2017, BTC trading dominance reached 60% but didn’t cross it. We are now at 62.8%. The runner up is Ethereum (ETH-USD) at just below 10%, and Ripple (XRP-USD) at 5.66% total trading volume. The next resistance zone for Bitcoin is at around $17,560, though we are still far away from there. It could take hours. SEE:Boozer, Pineapple to Launch Remote Ordering of Recreational Cannabis Next Target In Trade Wars: India It’s the most populous nation in the world, and it’s making US President Donald Trump angry. India last yearraised tariffsto 120% on a whole bunch of US items after the US withdrew preferential trade status from India as a third world nation that could really use some tax relief. “I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high tariffs against the United States, just recently increased the tariffs even further,” Trump tweeted, signaling more pain for both the US and India is in the works. The trade privileges that India enjoyed were under the Generalized System of Preferences that allowed duty-free exports of up to $5.6 billion. But since India kept its tariffs on the US up, which primarily hurts Indians rather than Americans, Trump thought this was unfair and now he’s raising a row. Indian stocks (BATS:INDA) could take a beating over this. Hong Kong Back To the Streets Hong Kongers are going back to the streets coinciding with the big G20 meeting this weekend, and they want Hong Kong on the agenda. Beijing isn’t too excited about this, and doesn’t want anyone to talk about it, because it makes them look bad, because it is bad. While the extradition bill that Beijing-sponsored Hong Kong leader Carrie Lam has championed (probably because her bosses on Beijing would probably do something bad to her if she didn’t) was suspended, it was never withdrawn, which means that Lam is just waiting for the opportunity to reintroduce it and pass it through while the protesters are not looking. The bill would allow Beijing to extradite pretty much anyone it wants to on the basis that Xi Jinping feels like it. “We know that the G20 is coming. We want to grasp this opportunity to voice for ourselves,” said Jack Cool Tsang, a protester. How can anyone disagree with a guy named Jack Cool? It’s unthinkable. Meanwhile, Hong Kong stocks are in a holding pattern, near all time highs but waiting to see what happens next. (NYSEARCA:EWH) Target, eBay To Compete With Amazon Prime Day Amazon (NASDAQ:AMZN) is just under 3 weeks away, set to hit the internet on July 15 when everyone is supposed to log on to Amazon at once, join prime, and shop like there is no recession around the corner. Target (NYSE:TGT) and eBay (NASDAQ:EBAY) are now stepping up to the plate in abid to compete, daring Amazon.com to crash like it did last year on Prime Day so that it can offer even more sales. They are trying to one-up Amazon by not requiring any membership in order to enjoy the discounts. Amazon requires that people who want the deals sign up for a $119 a year Prime membership. Boeing 737 Has A New Problem, May Not Return to Service Until July or Later Last month, officials at the Federal Aviation Administration had been saying that the Boeing (NYSE:BA) 737 MAX series could return to service around late June, which is now, but now they have discovered a new flaw in the plane which they are not elaborating on, but cautioning that at this point, the soonest that the plane could do test flights for certification would be July 8th. Two people involved in the testing though gave a hint as to what is going on. During a simulator test last week running scenarios trying intentionally activate the safety system that pulled the nose down causing two crashes, it took too long to recover,Reuters was told. At this point it isn’t known whether whatever the problem was can be fixed with further software tweaks, or if the problem is in the hardware controlling the system, which would require new hardware be built, which would take a while. Boeing shares slipped late yesterday when news came out, but still finished the day positive. The postMarket Morning: Bitcoin ReBubble, Target India, Hong Kong Keeps Protestingappeared first onMarket Exclusive.
Venmo is sharing your payments with everyone—except Mint Venmo isn't talking to Mint Every time I use a credit card to buy a cheeseburger at In-N-Out Burger, Mint dutifully subtracts $3.12 from my net worth. When I receive my biweekly paycheck, the money management platform automatically sends me a corresponding email notification: “Deposit into Chase Bank.” Mint gives me a comprehensive overview of my situation, and it reminds me when to tighten the purse strings—or let loose. Through Mint, I’m able to closely monitor my earning and spending. For example, I know that I was $11 over budget on groceries last month, but $50 under my clothing budget. (Yes, I realize this level of precision isn’t for everybody.) But I don’t have to visit each credit card company’s website to view my balances; they’re tabulated together on Mint. Same goes for my retirement accounts at Fidelity and Vanguard. Mint makes things simple, and it’s helped put me on track for financial freedom. Well, eventually. The Ethiopian Airlines 737 Max crash could warrant historic punitive damages against Boeing Since 2006 , millions of users have used Mint to create categorized budgets and keep track of their credit scores, as well as outstanding student loans, car payments, and mortgages. Mint is only able to accomplish this because it has complete access into their financial lives. When new users join the platform, they hand over their full slate of usernames and passwords, trusting Intuit —Mint’s parent company, which also owns TurboTax —to protect their logins. This can go awry, however, when Mint is no longer omniscient—for instance, when the app loses access to a connected account. This can happen because a user changes a password, a service goes down, or one platform no longer supports the other. Usually, it’s a quick fix. A few weeks ago, I noticed that Venmo—a popular payments service owned by PayPal—was no longer connecting with Mint. This was concerning because I use it to pay rent, my largest recurring expense. My friends also use Venmo to split rent payments and other bills, such as Netflix subscriptions, Uber rides, and bar tabs. Story continues White supremacists and anti-fascists head to DC ahead of Trump’s July 4 celebration For many, Venmo is an integral part of their daily lives , and its sudden absence from Mint makes personal finance, well, harder. It’s not a complete picture anymore. Venmo blocking Mint At the moment, it’s not clear who’s at fault. “We are working closely with Venmo and their parent company, PayPal, to reestablish the connection for our shared customers,” said Keri Danielski, a Mint spokesperson. However, Mint has been aware of its Venmo glitch for almost two months, judging by a “ Known Issue ” post on its site, and Danielski repeatedly declined to explain the actual hiccup. Venmo declined to provide comment for this article. Oddly, Venmo parent PayPal’s own integration with Mint seems to work just fine. “Mint is an incredibly efficient way to monitor your financial life and anything that takes away from its holistic nature would be a loss for users,” said Monica Padineant , a certified financial planner at Seattle’s Laird Norton Wealth Management. “It is still an incredibly useful tool, even if some synching glitches emerge from time-to-time.” Neither Mint nor Venmo have actually explained the lapse in connectivity, so we’re left to speculate. Did somebody spill coffee on a really, really important laptop? Is PayPal creating its own money management service? Did Mint suffer a data breach and Venmo decided to pull out? “It could be a technical problem with the ways their APIs or processes are structured,” said Uday Karmarkar, a professor of technology and strategy at UCLA’s Anderson School of Management. “Perhaps one or the other company wants specific agreements related to branding, or it might just be a hissy-fit on someone’s part.” The breakdown is a reminder that digital financial management is not foolproof. “Online technologies are great for efficiency, but they don’t replace the human element,” Padineant cautioned. It’s important to pay attention to what is—and isn’t working—to ensure that problems don’t go overlooked. Whatever the reason for the digital impasse, it’s especially frustrating that Venmo broadcasts it when friends pay one another for Chipotle (or even pay their therapists ), but won’t share payment data with a useful financial management tool. Mint loyalists may consider switching from Venmo to another payments service, like Zelle. This should be viable as long as your bank and your recipient’s bank are participating members in the Zelle payments network. Money should be transferred directly to or from your bank account. Mint users who want to continue using Venmo can try backfilling transactions —essentially inputting them manually. (That undermines Mint’s convenience factor though.) Another option is linking a credit or debit card to Venmo, so the transaction will be visible in Mint. Beware though, a credit card incurs 3% transaction fee from Venmo, and money received on Venmo won’t be reflected on Mint until you move it to your bank account. Of course, extra-peeved penny-pinchers may consider dropping Mint in favor of other financial management tools, such as Personal Capital and You Need A Budget . Or they could just learn how to balance a checkbook. 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Who Wins and Who Loses If CBS and Viacom Merge? A merger ofCBS(NYSE: CBS)andViacom(NASDAQ: VIA)is reportedly inching ever closer to becoming a reality. After mergers likeDisney-21st Century Fox(NYSE: DIS)andAT&T-Time Warner(NYSE: T), huge deals in media are becoming almost normal. But that doesn't mean that Viacom and CBS coming together would be no big deal -- a merger this big could shake up everything in TV and streaming in much the way that those earlier examples did. A unified CBS and Viacomcould have the media muscle to enter an already quickly expanding streaming space; like Disney before it, CBS-Viacom could plot a new streaming service full of its exclusive properties (or expand existing streaming service CBS All Access to that same end). That could be a big win for CBS and Viacom -- and could represent a major blow to some streaming competitors. Image source: Getty Images. If CBS and Viacom merge, it seems likely that they will do what both AT&T and Disney did after their major mergers: announce a new streaming strategy. Media companies creating their own streaming services as homes for their TV shows and movies is the new normal. And that new normal has very dire implications forNetflix(NASDAQ: NFLX). Netflix's new rivals are hitting it on two fronts. Every new streaming service backed by a major media company both creates a new Netflix alternative and makes it harder for Netflix to complement its original content with licensed hits. Disney's streaming strategy, for example, created forthcoming Netflix rival Disney+ while simultaneously takingStar Warsand Marvel Studios films out of Netflix's future plans. Meanwhile, the upcoming streaming service fromComcast(NASDAQ: CMCSA)will almost certainly mean the end ofThe Office'spopular run on Netflix (Comcast ownsThe Officethrough NBCUniversal). CBS and Viacom properties aren't as vital to Netflix's catalog asThe OfficeorStar Wars, at least as far as we can tell from third-party analysis --only CBS'Criminal Mindscracked the top 10 most-watched shows at last analysis, while shows from NBC, Warner, and ABC all made it into the top five. But every media company that starts its own streaming service is one fewer potential partner for Netflix when it comes to licensed content, and that can't be welcome news for it. Disney and AT&T's big streaming plans were built around their media properties and substantial IP. Disney's holdings in particular included live TV channels, but it was clear from relatively early on that Disney's TV channels (including ABC and ESPN) were not a huge part of its live streaming strategy -- for instance, ESPN+ does not include a live feed of the ESPN TV channel.The threat was there, but on-demand content was the focus. But at CBS and (particularly) Viacom, live TV channels are the name of the game. Viacom's relatively weak streaming holdings were bolstered byits recent acquisition of streaming company Pluto TV, but Viacom's most notable presence on the streaming scene comes when live TV streaming services likeDish's(NASDAQ: DISH)Sling TV offer Viacom networks like Comedy Central, MTV, and Nick Jr. Viacom has always been a bit of a thorn in the side of live TV streaming services, and not all such live TV streaming services have been able to cut deals with Viacom --Sony's(NYSE: SNE)PlayStation Vue, for instance, does not have any Viacom channels as of this writing. Things could get even more tense if Viacom and CBS go direct to consumers with live TV. CBS already includes a live feed of its eponymous flagship network in CBS All Access subscriptions (select markets only). It's not that hard to imagine a unified CBS-Viacom offering a skinny bundle-like service exclusively comprising CBS and Viacom networks. There are a couple of likely losers in this deal, but there's no doubt at all about the winner. If CBS and Viacom can pull this off, they'll form a company that has a much better chance of competing with the streaming and media giants. And if all goes to plan, we'll see something that we've seen before: a big media merger leading to a new streaming service. For streaming companies that, like Sling TV, lack massive media libraries of their own, this pattern must be getting very old indeed. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Stephen Lovelyowns shares of AT&T and Netflix. The Motley Fool owns shares of and recommends Netflix and Walt Disney. The Motley Fool is short shares of CBS. The Motley Fool recommends Comcast. The Motley Fool has adisclosure policy.
Are FirstService Corporation (TSE:FSV) Investors Paying Above The Intrinsic Value? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Today we'll do a simple run through of a valuation method used to estimate the attractiveness of FirstService Corporation (TSE:FSV) as an investment opportunity by taking the foreast future cash flows of the company and discounting them back to today's value. I will use the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of theSimply Wall St analysis model. See our latest analysis for FirstService We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: [{"": "Levered FCF ($, Millions)", "2019": "$114.49", "2020": "$129.65", "2021": "$131.00", "2022": "$156.00", "2023": "$173.00", "2024": "$186.53", "2025": "$197.84", "2026": "$207.39", "2027": "$215.60", "2028": "$222.84"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x3", "2020": "Analyst x3", "2021": "Analyst x1", "2022": "Analyst x1", "2023": "Analyst x1", "2024": "Est @ 7.82%", "2025": "Est @ 6.06%", "2026": "Est @ 4.83%", "2027": "Est @ 3.96%", "2028": "Est @ 3.36%"}, {"": "Present Value ($, Millions) Discounted @ 8.43%", "2019": "$105.59", "2020": "$110.28", "2021": "$102.77", "2022": "$112.87", "2023": "$115.44", "2024": "$114.79", "2025": "$112.29", "2026": "$108.56", "2027": "$104.09", "2028": "$99.22"}] Present Value of 10-year Cash Flow (PVCF)= $1.09b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 10-year government bond rate (1.9%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.4%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = US$223m × (1 + 1.9%) ÷ (8.4% – 1.9%) = US$3.5b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= $US$3.5b ÷ ( 1 + 8.4%)10= $1.56b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $2.65b. In the final step we divide the equity value by the number of shares outstanding. This results in an intrinsic value estimate in the company’s reported currency of $70.09. However, FSV’s primary listing is in Canada, and 1 share of FSV in USD represents 1.312 ( USD/ CAD) share of TSX:FSV,so the intrinsic value per share in CAD is CA$91.99.Relative to the current share price of CA$124.12, the company appears reasonably expensive at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at FirstService as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.4%, which is based on a levered beta of 1.087. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Although the valuation of a company is important, it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. What is the reason for the share price to differ from the intrinsic value? For FirstService, There are three additional factors you should look at: 1. Financial Health: Does FSV have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does FSV's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of FSV? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the TSE every day. If you want to find the calculation for other stocks justsearch here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Kylie Minogue says she will ‘absolutely’ shed tears during Glastonbury debut, 14 years after pulling out amid cancer battle Kylie Minogue has confessed that she will “absolutely” shed a tear during her set at this weekend’s Glastonbury , which marks her debut at the festival 14 years after she had to pull out of appearing after being diagnosed with breast cancer. Speaking to The Mirror , the pop icon revealed that the performance, during the “Legends slot” on Sunday afternoon, will make her “remember what happened all those years ago and my ­overriding feeling will just be of gratitude and how fragile life can be.” She added, “Will there be tears? Absolutely. Let’s just say I will be wearing ­waterproof mascara.” Minogue was originally scheduled to headline the festival in 2005, becoming one of only a few female headliners at Glastonbury in the process, before her cancer diagnosis meant that all performances and professional appearances were axed. She told the newspaper that the decision to back out weighed on her for years, even when she was undergoing chemotherapy. “My memory’s so strong of so much around that time and while my focus had moved on from Glastonbury, I was watching and going, ‘I’m meant to be there’,” she said. “It would have been pretty mega at the time to headline – the next woman to do it was Beyonce .” She continued, “I really thought I missed my ­opportunity and, as the years went by, I said to myself, ‘Well this just isn’t going to happen’.” Minogue is the latest music icon to play the Glastonbury “Legends slot”, following in the footsteps of acts including Dolly Parton , Johnny Cash and Barry Gibb . View comments
Did You Manage To Avoid Quadro Resources's (CVE:QRO) Devastating 72% Share Price Drop? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Some stocks are best avoided. We don't wish catastrophic capital loss on anyone. For example, we sympathize with anyone who was caught holdingQuadro Resources Ltd.(CVE:QRO) during the five years that saw its share price drop a whopping 72%. And some of the more recent buyers are probably worried, too, with the stock falling 50% in the last year. The falls have accelerated recently, with the share price down 17% in the last three months. View our latest analysis for Quadro Resources Quadro Resources hasn't yet reported any revenue yet, so it's as much a business idea as an actual business. This state of affairs suggests that venture capitalists won't provide funds on attractive terms. As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. It seems likely some shareholders believe that Quadro Resources will find or develop a valuable new mine before too long. As a general rule, if a company doesn't have much revenue, and it loses money, then it is a high risk investment. There is almost always a chance they will need to raise more capital, and their progress - and share price - will dictate how dilutive that is to current holders. While some such companies go on to make revenue, profits, and generate value, others get hyped up by hopeful naifs before eventually going bankrupt. Quadro Resources has already given some investors a taste of the bitter losses that high risk investing can cause. Quadro Resources had cash in excess of all liabilities of just CA$189k when it last reported (January 2019). So if it has not already moved to replenish reserves, we think the near-term chances of a capital raising event are pretty high. With that in mind, you can understand why the share price dropped 23% per year, over 5 years. The image below shows how Quadro Resources's balance sheet has changed over time; if you want to see the precise values, simply click on the image. The image below shows how Quadro Resources's balance sheet has changed over time; if you want to see the precise values, simply click on the image. In reality it's hard to have much certainty when valuing a business that has neither revenue or profit. What if insiders are ditching the stock hand over fist? I'd like that just about as much as I like to drink milk and fruit juice mixed together. You canclick here to see if there are insiders selling. Investors in Quadro Resources had a tough year, with a total loss of 50%, against a market gain of about 1.1%. 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 23% per year over five years. We realise that Buffett has said investors should 'buy when there is blood on the streets', but we caution that investors should first be sure they are buying a high quality businesses. If you would like to research Quadro Resources in more detail then you might want totake a look at whether insiders have been buying or selling shares in the company. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss thisfreelist of companies that have proven they can grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA 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.
F5 Networks, Inc. (NASDAQ:FFIV): Has Recent Earnings Growth Beaten Long-Term Trend? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! After looking at F5 Networks, Inc.'s (NASDAQ:FFIV) latest earnings announcement (31 March 2019), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. As a long-term investor I tend to focus on earnings trend, rather than a single number at one point in time. Also, comparing it against an industry benchmark to understand whether it outperformed, or is simply riding an industry wave, is a crucial aspect. Below is a brief commentary on my key takeaways. View our latest analysis for F5 Networks FFIV's trailing twelve-month earnings (from 31 March 2019) of US$503m has jumped 16% compared to the previous year. Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of 9.7%, indicating the rate at which FFIV is growing has accelerated. What's enabled this growth? Let's see if it is merely due to an industry uplift, or if F5 Networks has experienced some company-specific growth. In terms of returns from investment, F5 Networks has invested its equity funds well leading to a 34% return on equity (ROE), above the sensible minimum of 20%. Furthermore, its return on assets (ROA) of 16% exceeds the US Communications industry of 5.4%, indicating F5 Networks has used its assets more efficiently. However, its return on capital (ROC), which also accounts for F5 Networks’s debt level, has declined over the past 3 years from 38% to 33%. Though F5 Networks's past data is helpful, it is only one aspect of my investment thesis. Companies that have performed well in the past, such as F5 Networks gives investors conviction. However, the next step would be to assess whether the future looks as optimistic. I suggest you continue to research F5 Networks to get a more holistic view of the stock by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for FFIV’s future growth? Take a look at ourfree research report of analyst consensusfor FFIV’s outlook. 2. Financial Health: Are FFIV’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out ourfinancial health checks here. 3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here. NB: Figures in this article are calculated using data from the trailing twelve months from 31 March 2019. 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.
U.S., China agree tentative trade truce ahead of G20 summit: SCMP (Reuters) - The United States and China have agreed to a tentative truce in their trade dispute ahead of a meeting between leaders of the two nations at the G20 summit this weekend, the South China Morning Post reported on Thursday, citing sources. Details of the agreement, which would halt the next round of U.S. tariffs on an additional $300 billion of Chinese goods, are being laid out in press releases and will be out as coordinated press releases and not a joint statement, the newspaper said. Chinese President Xi Jinping's meeting with U.S. President Donald Trump is conditional upon Washington agreeing to such a tentative agreement, SCMP reported, citing one source with knowledge of the plans. Trump is set to hold much-anticipated trade talks with Xi in Osaka at 11:30 a.m. (0230 GMT) on Saturday, a White House spokesman told reporters on Wednesday. Trump said on Wednesday a trade deal with Xi was possible this weekend but he is prepared to impose U.S. tariffs on virtually all remaining Chinese imports if the two countries continue to disagree. China and the United States have already imposed tariffs of up to 25% on hundreds of billions of dollars of each other's goods in a trade war that has lasted nearly a year. Relations between Washington and Beijing have spiraled downward since talks collapsed in May, when the United States accused China of reneging on pledges to reform its economy. (Reporting by Aishwarya Nair in Bengaluru; editing by Gopakumar Warrier)
An Intrinsic Calculation For BioSyent Inc. (CVE:RX) Suggests It's 49% Undervalued Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! How far off is BioSyent Inc. (CVE:RX) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to their present value. This is done using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple! Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. Anyone interested in learning a bit more about intrinsic value should have a read of theSimply Wall St analysis model. View our latest analysis for BioSyent We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: [{"": "Levered FCF (CA$, Millions)", "2019": "CA$3.73", "2020": "CA$6.63", "2021": "CA$7.31", "2022": "CA$7.85", "2023": "CA$8.74", "2024": "CA$9.34", "2025": "CA$9.85", "2026": "CA$10.28", "2027": "CA$10.65", "2028": "CA$10.98"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x1", "2020": "Analyst x1", "2021": "Analyst x1", "2022": "Analyst x1", "2023": "Analyst x2", "2024": "Est @ 6.89%", "2025": "Est @ 5.4%", "2026": "Est @ 4.37%", "2027": "Est @ 3.64%", "2028": "Est @ 3.13%"}, {"": "Present Value (CA$, Millions) Discounted @ 6.72%", "2019": "CA$3.49", "2020": "CA$5.82", "2021": "CA$6.01", "2022": "CA$6.05", "2023": "CA$6.31", "2024": "CA$6.32", "2025": "CA$6.25", "2026": "CA$6.11", "2027": "CA$5.93", "2028": "CA$5.73"}] Present Value of 10-year Cash Flow (PVCF)= CA$58.04m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 10-year government bond rate (1.9%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 6.7%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = CA$11m × (1 + 1.9%) ÷ (6.7% – 1.9%) = CA$235m Present Value of Terminal Value (PVTV)= TV / (1 + r)10= CA$CA$235m ÷ ( 1 + 6.7%)10= CA$122.61m The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is CA$180.65m. The last step is to then divide the equity value by the number of shares outstanding.This results in an intrinsic value estimate of CA$12.81. Compared to the current share price of CA$6.52, the company appears quite undervalued at a 49% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at BioSyent as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.7%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. What is the reason for the share price to differ from the intrinsic value? For BioSyent, There are three important factors you should look at: 1. Financial Health: Does RX have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does RX's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of RX? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every CA stock every day, so if you want to find the intrinsic value of any other stock justsearch here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Did You Manage To Avoid EverQuote's (NASDAQ:EVER) 30% Share Price Drop? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! It is doubtless a positive to see that theEverQuote, Inc.(NASDAQ:EVER) share price has gained some 70% in the last three months. But that doesn't change the reality of under-performance over the last twelve months. The cold reality is that the stock has dropped 30% in one year, under-performing the market. See our latest analysis for EverQuote Given that EverQuote 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 twelve months, EverQuote increased its revenue by 29%. That's definitely a respectable growth rate. Meanwhile, the share price is down 30% over twelve months, which is disappointing given the progress made. You might even wonder if the share price was previously over-hyped. However, that's in the past now, and it's the future that matters most. The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail). We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. If you are thinking of buying or selling EverQuote stock, you should check out thisfreereport showing analyst profit forecasts. Given that the market gained 6.9% in the last year, EverQuote shareholders might be miffed that they lost 30%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. It's great to see a nice little 70% rebound in the last three months. Let's just hope this isn't the widely-feared 'dead cat bounce' (which would indicate further declines to come). If you want to research this stock further, the data on insider buying is an obvious place to start. You canclick here to see who has been buying shares - and the price they paid. EverQuote is not the only stock that insiders are buying. For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on 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.
Ford to slash 12,000 jobs as it closes European factories 12,000 jobs could be slashed at Ford’s manufacturing plants across Europe, as the carmaker rolls out a major cost-cutting plan. The company announced the scale of job losses on Thursday as it confirmed it will close or sell six of its 24 facilities across Europe by the end of 2020. It said in a statement the wave of redundancies will come “primarily through voluntary separation programmes.” The jobs at risk include 3,000 across the UK, including 1,700 in Bridgend, according to the FT. READ MORE: Japan warns UK car industry could suffer in no-deal Brexit The news comes on the same day new figures show UK car production is down for a 12th consecutive month against the previous year, with output down 15.5% in May. More than 20,000 fewer vehicles were manufactured in the UK last month than in May 2018, according to the Society of Motor Manufacturers and Traders (SMMT). The car industry is suffering from a global slowdown in sales, with lower demand in China, falling diesel sales in Europe and tougher regulation from the EU’s new emission-testing system. There are fears Brexit and increased trade barriers in the US could curb production even further in an industry where competition is tight. Ford described the huge cutbacks as part of “the most comprehensive redesign in the history of its business in Europe.” The company confirmed its Ford of Britain and Ford Credit Europe headquarters in Warley will be closed, with operations consolidated in Dunton. Plans to close the Bridgend Engine Plant had already been announced, in a devastating blow for the South Wales town. Plants in Russia and France will also be closed, while another plant in Slovakia will be sold to Magna. Engineers working on a Jaguar V8 engine at the Ford engine plant near Bridgend, south Wales. Photo: Press Association READ MORE: No-deal Brexit could cost UK car firms £50,000 a minute The firm said 2,000 of the 12,000 “impacted” jobs were salaried positions within the company or its consolidated joint ventures. Stuart Rowley, president of Ford of Europe, said: “Separating employees and closing plants are the hardest decisions we make, and in recognition of the effect on families and communities, we are providing support to ease the impact.” “We are grateful for the ongoing consultations with our works councils, trade union partners and elected representatives. Together, we are moving forward and focused on building a long-term sustainable future for our business in Europe.” Ford currently employs around 65,000 people across Europe through its wholly owned and joint venture arms. READ MORE: Best-selling new cars in Britain right now The scale of the job losses makes it a significant landmark in Ford’s history in Europe, which dates back more than a century. Story continues Rival General Motors drew back from Europe in 2017 , blaming Brexit as the final straw as it sold the Opel and Vauxhall brands it had owned since the 1920s. Carmakers like Ford face an enormous financial challenge to both adapt their vehicles to meet increasingly tough clear-air rules and invest in a new generation of electric, hybrid and autonomous cars. Rowley added: “Implementing our new strategy quickly enables us to invest and grow our leading commercial vehicle business and provide customers with more electrified vehicles, SUVs, exciting performance derivatives and iconic imported models.” “Our future is rooted in electrification,” he said. View comments
The EverQuote (NASDAQ:EVER) Share Price Is Down 30% So Some Shareholders Are Getting Worried Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! It is doubtless a positive to see that the EverQuote, Inc. ( NASDAQ:EVER ) share price has gained some 70% in the last three months. But that doesn't change the reality of under-performance over the last twelve months. In fact, the price has declined 30% in a year, falling short of the returns you could get by investing in an index fund. See our latest analysis for EverQuote Given that EverQuote 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. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. 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 year EverQuote saw its revenue grow by 29%. That's definitely a respectable growth rate. Meanwhile, the share price is down 30% over twelve months, which is disappointing given the progress made. This implies the market was expecting better growth. But if revenue keeps growing, then at a certain point the share price would likely follow. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). NasdaqGM:EVER Income Statement, June 27th 2019 We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free report showing analyst forecasts should help you form a view on EverQuote A Different Perspective Given that the market gained 6.9% in the last year, EverQuote shareholders might be miffed that they lost 30%. While the aim is to do better than that, it's worth recalling that even great long-term investments sometimes underperform for a year or more. It's great to see a nice little 70% rebound in the last three months. This could just be a bounce because the selling was too aggressive, but fingers crossed it's the start of a new trend. Investors who like to make money usually check up on insider purchases, such as the price paid, and total amount bought. You can find out about the insider purchases of EverQuote by clicking this link. Story continues EverQuote is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying. 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 at editorial-team@simplywallst.com . This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
The new Organelle is a synth built around a Raspberry Pi It's a niche company, but Critter and Guitari was a big name during the portablesynth renaissance, and back in 2016 it released its flagship instrument, the Organelle. Now, it's had a pretty significant upgrade. The newly-released Organelle M now comes with a built-in speaker and mic, MIDI jacks and battery power, so you can play on the go. It's also got a pepped up 1.2GHz Quad-Core processor, double the RAM and it comes with a USB WiFi adaptor. What's really exciting, though, is that it's now driven by aRaspberry Pi, instead of the original solid run i.MX6. This isn't a mysterious device powered by obscure components, but rather a digital synth with a pretty active community of musicians building custom patches for it -- the sort of thing Korg is probably hoping for with its digital oscillators on the Prologue andMinilogue XD. Get the Organelle M for $595 fromcritterandguiatri.com.
Some Neuronetics (NASDAQ:STIM) Shareholders Have Copped A Big 61% Share Price Drop Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Even the best stock pickers will make plenty of bad investments. And unfortunately forNeuronetics, Inc.(NASDAQ:STIM) shareholders, the stock is a lot lower today than it was a year ago. To wit the share price is down 61% in that time. Neuronetics hasn't been listed for long, so although we're wary of recent listings that perform poorly, it may still prove itself with time. The falls have accelerated recently, with the share price down 29% in the last three months. Check out our latest analysis for Neuronetics Neuronetics isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. When a company doesn't make profits, we'd generally expect to see good revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth. In the last year Neuronetics saw its revenue grow by 29%. We think that is pretty nice growth. Unfortunately it seems investors wanted more, because the share price is down 61% in that time. It may well be that the business remains approximately on track, but its revenue growth has simply been delayed. For us it's important to consider when you think a company will become profitable, if you're basing your valuation on revenue. You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image). We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. You can see what analysts are predicting for Neuronetics in thisinteractivegraph of future profit estimates. Given that the market gained 6.9% in the last year, Neuronetics shareholders might be miffed that they lost 61%. While the aim is to do better than that, it's worth recalling that even great long-term investments sometimes underperform for a year or more. The share price decline has continued throughout the most recent three months, down 29%, suggesting an absence of enthusiasm from investors. Given the relatively short history of this stock, we'd remain pretty wary until we see some strong business performance. If you want to research this stock further, the data on insider buying is an obvious place to start. You canclick here to see who has been buying shares - and the price they paid. If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). 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.
Huobi Expands to Turkey Where 20% of the Population Hold Crypto Huobiexchangewill expand its operations toTurkey, planning to have acrypto-to-fiatonramp for Turkish users by the end of 2019, according to apress releaseon June 26. The Singapore-based crypto exchange will be “moving aggressively” to the Turkish market over the next 12 months, since the country has a “very important and promising prospective market,” Huobi Global CEO, Livio Weng, said in a Huobi-sponsored meeting in Istanbul. According to the press release, Huobi’s new expansion plans include not only a fiat on-ramp for Turkish lira (TRY), but also localized products, customer services, as well as launching a branch office in the country. Huobi's entrance to the Turkish market will be overseen by official branch of Huobi Group, Huobi Middle East, Africa, and South Asia (Huobi MENA), which is based inDubai. Huobi MENA co-founder Mohit Davar said that the platform has already added a Turkish language option to the Huobi Global website, and is planning to launch Turkish language customer support and mobile app soon. Huobi’s new expansion move has been driven by the popularity of crypto in Turkey. Citing data from Statistica's Global Consumer Survey for 2019, Huobi stated that 20% of Turkish residents now hold some form of crypto, which is the “highest per capita rate of cryptocurrency ownership of all nations surveyed.” Indeed, cryptocurrencies such as bitcoin (BTC) have become increasingly popular in Turkey, particularly as the country’s national currency, the lira, saw significantdevaluationin 2018. Recently,United Statescrypto exchange andwalletserviceCoinbaseexpandedUSD Coin (USDC) trading to customers in 85 countries,includingTurkey. • Overstock’s tZero Launches Mobile Crypto App Touted as Hack-Resistant • SEC-Registered Clearing House Brings Crypto Trading to 5 Million Clients • Winklevoss’ Gemini Exchange Launches Chicago Office to Serve as Engineering Hub • QuadrigaCX Users Lose $190M as Speculations Over Cotten’s Death Swirl
Binance, Paxos simplify exchanging of fiat directly for PAX stablecoin The world’s largest cryptocurrency exchange Binance and stablecoin issuer Paxos have collaborated to simplify exchanging of fiat directly for the stablecoin Paxos Standard (PAX).Paxosannouncedthe news Wednesday, saying that the new deposit gateway will allow customers to buy or redeem the dollar-pegged stablecoin with “no fees, no minimums or maximums, and instant processing.”“We believe this easy fiat on-ramp with PAX to Binance will make it even better for traders to benefit from deep liquidity pools and price discovery,” said Paxos CEO and co-founder, Charles Cascarilla. Binance CEO, Changpeng Zhao said that easing the gateway will help traders benefit from the liquidity of PAX trading pairs and move “more easily” between fiat and crypto.Last month, Paxos alsorevampedredemptions process for its stablecoin, meaning every PAX deposited on the firm’s platform can now be immediately sent to a bank as USD. The firm also recentlyrolled outa new feature called Auto-Transfers to help customers buy and send PAX to external wallets and exchange accounts faster.
Japan PM Abe, China's Xi agree on need for 'free, fair' trade By Kiyoshi Takenaka and Chang-Ran Kim OSAKA (Reuters) - Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping agreed to work together to promote "free and fair trade" in talks on Thursday that included a "complicated" global economic landscape, a Japanese official said. Both countries are locked in a trade dispute with the United States as the world's biggest economy threatens its major trading partners with tariffs to reverse what President Donald Trump says are unfair imbalances that hurt the U.S. economy. Meeting ahead of a two-day G20 summit in Osaka starting on Friday, Xi and Abe had a "very frank exchange", including issues between the United States and China, Japanese deputy chief cabinet secretary Yasutoshi Nishimura said. He declined to elaborate. "The two leaders (Abe and Xi) agreed on developing a free and fair trading system," Nishimura told a briefing on the bilateral summit. A major focus of the G20 gathering will be the outcome of a meeting between Trump and Xi scheduled on Saturday. Trump said on Wednesday that a trade deal with Xi was possible this weekend, but that he was prepared to impose tariffs on virtually all Chinese imports if disagreement persisted. Abe and Xi agreed to continue to work toward creating multilateral free-trade pacts, including RCEP (Regional Comprehensive Economic Partnership) and a trilateral Japan-China-South Korea free trade agreement, Nishimura said. Japan and China, along with the 10-nation Association of South East Asian Nations (ASEAN), Australia, India, New Zealand and South Korea are aiming to conclude negotiations for the RCEP free-trade zone that would encompass nearly half of the world's population and a third of the global economy. At the outset of their bilateral meeting, Abe said he hoped to improve ties further between Japan and China, inviting Xi as a state guest next spring. China has accepted the invitation, Nishimura said. Story continues "Around the time of the cherry blossoms next spring, I would like to welcome President Xi as a state guest to Japan, and hope to further elevate ties between Japan and China to the next level," Abe told Xi earlier. China-Japan ties have historically been strained by territorial disputes over a group of tiny East China Sea islets and the legacy of Japan's World War Two aggression. But Tokyo and Beijing have sought to improve relations more recently, with Abe visiting Beijing in October last year when both countries pledged to forge closer ties and signed a broad range of agreements including a currency swap pact. (Reporting by Kiyoshi Takenaka and Chang-Ran Kim; Editing by William Mallard and Jon Boyle)
Why Cogeco Inc. (TSE:CGO) Could Be Worth Watching Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Cogeco Inc. (TSE:CGO), which is in the media business, and is based in Canada, received a lot of attention from a substantial price movement on the TSX over the last few months, increasing to CA$86.29 at one point, and dropping to the lows of CA$77.04. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Cogeco's current trading price of CA$82.59 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at Cogeco’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. See our latest analysis for Cogeco According to my relative valuation model, the stock seems to be currently fairly priced. In this instance, I’ve used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock’s cash flows. I find that Cogeco’s ratio of 14.62x is trading slightly below its industry peers’ ratio of 17.31x, which means if you buy Cogeco today, you’d be paying a fair price for it. And if you believe Cogeco should be trading in this range, then there isn’t much room for the share price grow beyond where it’s currently trading. Furthermore, Cogeco’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. This may mean it is less likely for the stock to fall lower from natural market volatility, which suggests less opportunities to buy moving forward. Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. In the upcoming year, Cogeco’s earnings are expected to increase by 41%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value. Are you a shareholder?CGO’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at CGO? Will you have enough confidence to invest in the company should the price drop below its fair value? Are you a potential investor?If you’ve been keeping tabs on CGO, now may not be the most advantageous time to buy, given it is trading around its fair value. However, the optimistic forecast is encouraging for CGO, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop. Price is just the tip of the iceberg. Dig deeper into what truly matters – the fundamentals – before you make a decision on Cogeco. You can find everything you need to know about Cogeco inthe latest infographic research report. If you are no longer interested in Cogeco, 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.
Brazil congressional pension committee cancels vote session - legislative aide SAO PAULO, June 27 (Reuters) - Brazilian special congressional pension committee canceled on Thursday a meeting that would give its verdict on the government's signature bill, before sending it on to the lower house plenary for a full vote, a legislative aide said. This move makes it more difficult to put the bill to the plenary vote before parliament breaks for recess on July 18. A spokesperson for pension bill coordinator Samuel Moreira did not comment on the reasons for calling the session off. (Reporting by Maria Carolina Marcello Editing by Chizu Nomiyama)
Patterson Cos.: Fiscal 4Q Earnings Snapshot ST PAUL, Minn. (AP) _ Patterson Cos. (PDCO) on Thursday reported fiscal fourth-quarter profit of $28 million. On a per-share basis, the St Paul, Minnesota-based company said it had profit of 30 cents. Earnings, adjusted for amortization costs, came to 37 cents per share. The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share. The medical supplies maker posted revenue of $1.44 billion in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.43 billion. For the year, the company reported profit of $83.6 million, or 89 cents per share. Revenue was reported as $5.57 billion. Patterson Cos. expects full-year earnings in the range of $1.33 to $1.43 per share. Patterson Cos. shares have climbed 26% since the beginning of the year, while the Standard & Poor's 500 index has increased 16%. The stock has risen almost 5% in the last 12 months. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDCO at https://www.zacks.com/ap/PDCO
What Is Cogeco Inc.'s (TSE:CGO) Share Price Doing? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Cogeco Inc. (TSE:CGO), which is in the media business, and is based in Canada, saw significant share price movement during recent months on the TSX, rising to highs of CA$86.29 and falling to the lows of CA$77.04. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Cogeco's current trading price of CA$82.59 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at Cogeco’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. See our latest analysis for Cogeco The stock seems fairly valued at the moment according to my relative valuation model. I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 14.62x is currently trading slightly below its industry peers’ ratio of 17.31x, which means if you buy Cogeco today, you’d be paying a fair price for it. And if you believe that Cogeco should be trading at this level in the long run, then there’s not much of an upside to gain from mispricing. In addition to this, it seems like Cogeco’s share price is quite stable, which could mean there may be less chances to buy low in the future now that it’s fairly valued. This is because the stock is less volatile than the wider market given its low beta. Future outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. 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. In the upcoming year, Cogeco’s earnings are expected to increase by 41%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value. Are you a shareholder?It seems like the market has already priced in CGO’s positive outlook, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at CGO? Will you have enough conviction to buy should the price fluctuate below the true value? Are you a potential investor?If you’ve been keeping an eye on CGO, now may not be the most optimal time to buy, given it is trading around its fair value. However, the optimistic forecast is encouraging for CGO, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop. Price is just the tip of the iceberg. Dig deeper into what truly matters – the fundamentals – before you make a decision on Cogeco. You can find everything you need to know about Cogeco inthe latest infographic research report. If you are no longer interested in Cogeco, 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.
What Investors Should Know About Switch, Inc.'s (NYSE:SWCH) Financial Strength Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Switch, Inc. (NYSE:SWCH), with a market capitalization of US$3.2b, rarely draw their attention from the investing community. Surprisingly though, when accounted for risk, mid-caps have delivered better returns compared to the two other categories of stocks. SWCH’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look furtherinto SWCH here. View our latest analysis for Switch SWCH's debt level has been constant at around US$610m over the previous year including long-term debt. At this current level of debt, the current cash and short-term investment levels stands at US$87m , ready to be used for running the business. On top of this, SWCH has generated cash from operations of US$191m over the same time period, leading to an operating cash to total debt ratio of 31%, meaning that SWCH’s current level of operating cash is high enough to cover debt. With current liabilities at US$72m, it appears that the company has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 1.47x. The current ratio is the number you get when you divide current assets by current liabilities. Usually, for IT companies, this is a suitable ratio as there's enough of a cash buffer without holding too much capital in low return investments. With debt reaching 86% of equity, SWCH may be thought of as relatively highly levered. This is not uncommon for a mid-cap company given that debt tends to be lower-cost and at times, more accessible. We can test if SWCH’s debt levels are sustainable by measuring interest payments against earnings of a company. Ideally, earnings before interest and tax (EBIT) should cover net interest by at least three times. For SWCH, the ratio of 2.01x suggests that interest is not strongly covered, which means that debtors may be less inclined to loan the company more money, reducing its headroom for growth through debt. SWCH’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow. Since there is also no concerns around SWCH's liquidity needs, this may be its optimal capital structure for the time being. This is only a rough assessment of financial health, and I'm sure SWCH has company-specific issues impacting its capital structure decisions. I recommend you continue to research Switch to get a better picture of the mid-cap by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for SWCH’s future growth? Take a look at ourfree research report of analyst consensusfor SWCH’s outlook. 2. Valuation: What is SWCH 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 SWCH is currently mispriced by the market. 3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Some Cordoba Minerals (CVE:CDB) Shareholders Are Down 45% Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This week we saw theCordoba Minerals Corp.(CVE:CDB) share price climb by 13%. But that doesn't change the fact that the returns over the last year have been less than pleasing. The cold reality is that the stock has dropped 45% in one year, under-performing the market. Check out our latest analysis for Cordoba Minerals Cordoba Minerals didn't have any revenue in the last year, so it's fair to say it doesn't yet have a proven product (or at least not one people are paying for). This state of affairs suggests that venture capitalists won't provide funds on attractive terms. So it seems that the investors focused more on what could be, than paying attention to the current revenues (or lack thereof). For example, investors may be hoping that Cordoba Minerals finds some valuable resources, before it runs out of money. Companies that lack both meaningful revenue and profits are usually considered high risk. You should be aware that there is always a chance that this sort of company will need to issue more shares to raise money to continue pursuing its business plan. While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized). Our data indicates that Cordoba Minerals had CA$236,784 more in total liabilities than it had cash, when it last reported in March 2019. That puts it in the highest risk category, according to our analysis. But since the share price has dived -45% in the last year, it looks like some investors think it's time to abandon ship, so to speak. You can click on the image below to see (in greater detail) how Cordoba Minerals's cash levels have changed over time. The image below shows how Cordoba Minerals's balance sheet has changed over time; if you want to see the precise values, simply click on the image. Of course, the truth is that it is hard to value companies without much revenue or profit. Would it bother you if insiders were selling the stock? I'd like that just about as much as I like to drink milk and fruit juice mixed together. It only takes a moment for you tocheck whether we have identified any insider sales recently. Given that the market gained 1.1% in the last year, Cordoba Minerals shareholders might be miffed that they lost 45%. While the aim is to do better than that, it's worth recalling that even great long-term investments sometimes underperform for a year or more. Putting aside the last twelve months, it's good to see the share price has rebounded by 5.9%, in the last ninety days. Let's just hope this isn't the widely-feared 'dead cat bounce' (which would indicate further declines to come). It is all well and good that insiders have been buying shares, but we suggest youcheck here to see what price insiders were buying at. Cordoba Minerals is not the only stock insiders are buying. So take a peek at thisfreelist of growing companies with insider buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA 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.
Is JPMorgan Diversified Return Emerging Markets Equity ETF (JPEM) a Strong ETF Right Now? The JPMorgan Diversified Return Emerging Markets Equity ETF (JPEM) made its debut on 01/07/2015, and is a smart beta exchange traded fund that provides broad exposure to the Broad Emerging Market ETFs category of the market. What Are Smart Beta ETFs? For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment. Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency. On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta. This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics. The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns. Fund Sponsor & Index The fund is sponsored by J.P. Morgan. It has amassed assets over $332.40 M, making it one of the average sized ETFs in the Broad Emerging Market ETFs. Before fees and expenses, JPEM seeks to match the performance of the FTSE Emerging Diversified Factor Index. The FTSE Emerging Diversified Factor Index are selected from advanced and secondary emerging markets strictly in accordance with guidelines and mandated procedures and are selected from constituents of the FTSE Emerging Index. Cost & Other Expenses Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same. Operating expenses on an annual basis are 0.45% for this ETF, which makes it on par with most peer products in the space. It has a 12-month trailing dividend yield of 2.87%. Sector Exposure and Top Holdings ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis. When you look at individual holdings, Taiwan Semiconductor accounts for about 2.92% of the fund's total assets, followed by China Mobile Ltd Common and Vale Sa Common Stock Brl. Story continues JPEM's top 10 holdings account for about 14.84% of its total assets under management. Performance and Risk The ETF return is roughly 10.30% so far this year and was up about 6.85% in the last one year (as of 06/27/2019). In the past 52-week period, it has traded between $49.44 and $56.42. The ETF has a beta of 0.78 and standard deviation of 15.25% for the trailing three-year period, making it a medium risk choice in the space. With about 630 holdings, it effectively diversifies company-specific risk. Alternatives JPMorgan Diversified Return Emerging Markets Equity ETF is not a suitable option for investors seeking to outperform the Broad Emerging Market ETFs segment of the market. Instead, there are other ETFs in the space which investors should consider. IShares Core MSCI Emerging Markets ETF (IEMG) tracks MSCI Emerging Markets Investable Market Index and the Vanguard FTSE Emerging Markets ETF (VWO) tracks FTSE Emerging Markets All Cap China An Inclusion Index. IShares Core MSCI Emerging Markets ETF has $59.01 B in assets, Vanguard FTSE Emerging Markets ETF has $64.04 B. IEMG has an expense ratio of 0.14% and VWO charges 0.12%. Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Broad Emerging Market ETFs. Bottom Line To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center. 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 JPMorgan Diversified Return Emerging Markets Equity ETF (JPEM): ETF Research Reports Vanguard FTSE Emerging Markets ETF (VWO): ETF Research Reports iShares Core MSCI Emerging Markets ETF (IEMG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research View comments
WashREIT (WRE) to Sell 8 Retail Assets, Revises '19 Guidance Washington Real Estate Investment TrustWRE, also known as WashREIT, recently announced that it has entered into two separate agreements with buyers to sell a total of eight retail assets. The first agreement is for the sale of five retail assets, totaling nearly 800,000 square feet of space. The transaction is expected to close in late July and generate gross proceeds of nearly $485 million. The second agreement is for sale of the company’s power center assets — Centre at Hagerstown, Hagerstown, MD; Frederick County Square, Frederick, MD and Frederick Crossing, Frederick, MD, covering nearly 850,000 square feet. Gross proceeds from this sale will likely be announced once the transaction closes. Based on the company’s estimated 2019 net operating income (NOI) contribution from the eight assets, WashREIT projects blended sales capitalization rate to be nearly 6.2%. In fact, it trimmed the previously-projected 2019 NOI by nearly $16 million. For the full year, these assets were anticipated to contribute approximately $35.5 million. On account of these transactions, WashREIT updated its 2019 core funds from operations (FFO) outlook. Specifically, it has lowered the core FFO per share guidance from $1.74-$1.78 to $1.68-$1.72. Further, the company closed the sale of Quantico Corporate Center (925 and 1000 Corporate Drive) in Stafford, VA. It raised $33 million in gross proceeds from this transaction. The disposition is expected to reduce the projected 2019 NOI by nearly $2 million. Dispositions aside, WashREIT has signed a contract to purchase an urban-infill, value-add multi-family asset in July, for around $70 million. If completed, it is likely to contribute $1.50-$1.75 million to the current-year NOI. Regarding the previously-announced buyout of the seven-property Assembly portfolio, the remaining two Maryland assets will likely be acquired this week, for nearly $82 million. The multi-family portfolio is expected to contribute between $15.25 million and $15.5 million to the ongoing year’s NOI. These transactions are expected to improve the company’s cash-flow strength and its operating platform. Furthermore, disposition of retail properties and focus on multi-family is a strategic fit as capital expenditures as a percentage of NOI is higher for retail properties. Nonetheless, near-term earnings dilution from dispositions cannot be bypassed. Over the past six months, shares of this Zacks Rank #3 (Hold) company have gained 14.2%, underperforming the industry’s growth of 19.7%. Key Picks Investors can consider better-ranked stocks from the same space like Host Hotels & Resorts, Inc. HST, Lamar Advertising Company LAMR and PS Business Parks, Inc. PSB, carrying a Zacks Rank of 2 (Buy), currently. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Host Hotels & Resorts’ FFO per share estimates for 2019 moved marginally north to $1.82 over the past two months. Lamar Advertising’s FFO per share estimates for the ongoing year have been revised slightly upward to $5.83 in 30 days’ time. PS Business Parks’ current-year FFO per share estimate moved up marginally to $6.71 in the past month. Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of+98%,+119%and+164%in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportLamar Advertising Company (LAMR) : Free Stock Analysis ReportWashington Real Estate Investment Trust (WRE) : Free Stock Analysis ReportHost Hotels & Resorts, Inc. (HST) : Free Stock Analysis ReportPS Business Parks, Inc. (PSB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.
Study: Student loans have grads feeling 'buyer's remorse' over college The student debt crisis is reaching a breaking point — and many grads are regretting their pricey degrees. Anew study from the FINRA Foundationfound that almost half of Americans with student loans wish they’d chosen a less expensive college, compared to only 9% among those who did not graduate with debt. “What we’re seeing is that there is buyer’s remorse when it comes to taking out loans for college,” FINRA Foundation’s Gerri Walsh toldYahoo Financein a recent interview. “Too many Americans don’t understand how much the true cost of college is and, as a consequence, when they’re faced with all that debt they wish they’d gone to a less expensive school,” she added. Currently, student loan debt has topped $1.5 trillion, making it the largest type of consumer debt outstanding other than mortgages,according to the Center for Responsible Lending. Increased pressure surrounding student loan forgiveness is now pushing politicians and CEOs to weigh in. 2020 Democratic hopeful Bernie Sandersrecently unveiled plans to cancel $1.6 trillion of student loan debtfor approximately 45 million Americans. Meanwhile, JPMorgan Chase (JPM) CEO Jamie Dimon toldYahoo Finance’s Andy Serwerthatstudent lending in the U.S. is a “disgrace” that’s “hurting America. Walsh told Yahoo Finance that there’s “absolutely” a role for both businesses and policymakers to play when it comes to finding a solution. “College is a doorway to the American dream for so many...but we can’t saddle future generations with that level of debt without having an impact on the economy,” she added. Student debt holders are more likely to engage in expensive credit card behavior — becoming trapped in an unforgiving “cycle of debt,” Walsh said. “One of the realities of having that much student loan debt is it impacts your finances for quite a long time,” she explained. “In a lot of ways it’s a negative inheritance for your future children because you’ve set yourself back,” Walsh added. “The best thing that you can do is try to sort out your debt and figure out the most expensive loans you have to pay and pay those off first so you’re more likely to keep up with your day to day expenses,” she advised. Alexandra Canal is a Producer at Yahoo Finance. Follow her on Twitter:@alliecanal8193 Read more: • Instagram grapples with 'fake news' problem as phony accounts proliferate • Bluemercury will explore CBD line 'in next 24 months', says co-founder • Why Blade's CEO is ‘excited’ about competition from Uber Copter • KFC to explore plant-based alternatives as Beyond Meat booms Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
Does Syros Pharmaceuticals, Inc.'s (NASDAQ:SYRS) CEO Pay Compare Well With Peers? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In 2012 Nancy Simonian was appointed CEO of Syros Pharmaceuticals, Inc. (NASDAQ:SYRS). First, this article will compare CEO compensation with compensation at similar sized companies. Next, we'll consider growth that the business demonstrates. And finally we will reflect on how common stockholders have fared in the last few years, as a secondary measure of performance. This process should give us an idea about how appropriately the CEO is paid. Check out our latest analysis for Syros Pharmaceuticals At the time of writing our data says that Syros Pharmaceuticals, Inc. has a market cap of US$306m, and is paying total annual CEO compensation of US$3.0m. (This is based on the year to December 2018). We note that's an increase of 36% above last year. While we always look at total compensation first, we note that the salary component is less, at US$560k. We looked at a group of companies with market capitalizations from US$200m to US$800m, and the median CEO total compensation was US$1.7m. It would therefore appear that Syros Pharmaceuticals, Inc. pays Nancy Simonian more than the median CEO remuneration at companies of a similar size, in the same market. However, this fact alone doesn't mean the remuneration is too high. We can get a better idea of how generous the pay is by looking at the performance of the underlying business. The graphic below shows how CEO compensation at Syros Pharmaceuticals has changed from year to year. On average over the last three years, Syros Pharmaceuticals, Inc. has grown earnings per share (EPS) by 92% each year (using a line of best fit). It achieved revenue growth of 477% over the last year. Overall this is a positive result for shareholders, showing that the company has improved in recent years. It's great to see that revenue growth is strong, too. These metrics suggest the business is growing strongly. You might want to checkthis free visual report onanalyst forecastsfor future earnings. Given the total loss of 60% over three years, many shareholders in Syros Pharmaceuticals, Inc. are probably rather dissatisfied, to say the least. So shareholders would probably think the company shouldn't be too generous with CEO compensation. We compared the total CEO remuneration paid by Syros Pharmaceuticals, Inc., and compared it to remuneration at a group of similar sized companies. As discussed above, we discovered that the company pays more than the median of that group. However, the earnings per share growth over three years is certainly impressive. Having said that, shareholders may be disappointed with the weak returns over the last three years. So shareholders might not feel great about the fact that CEO pay increased on last year. While EPS is positive, we'd say shareholders would want better returns before the CEO is paid much more. Shareholders may want tocheck for free if Syros Pharmaceuticals insiders are buying or selling shares. If you want to buy a stock that is better than Syros Pharmaceuticals, thisfreelist of high return, low debt companies is a great place to look. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Should iShares Morningstar Mid-Cap Growth ETF (JKH) Be on Your Investing Radar? Looking for broad exposure to the Mid Cap Growth segment of the US equity market? You should consider the iShares Morningstar Mid-Cap Growth ETF (JKH), a passively managed exchange traded fund launched on 06/28/2004. The fund is sponsored by Blackrock. It has amassed assets over $554.15 M, making it one of the average sized ETFs attempting to match the Mid Cap Growth segment of the US equity market. Why Mid Cap Growth Mid cap companies, with market capitalization in the range of $2 billion and $10 billion, offer investors many things that small and large companies don't, including less risk and higher growth opportunities. Thus, companies that fall under this category provide a stable and growth-heavy investment. Growth stocks have higher than average sales and earnings growth rates. While these are expected to grow faster than the broader market, they also have higher valuations. Additionally, growth stocks have a greater level of risk associated with them. They are likely to outperform value stocks in strong bull markets but over the longer-term, value stocks have delivered better returns than growth stocks in almost all markets. Costs Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same. Annual operating expenses for this ETF are 0.30%, putting it on par with most peer products in the space. It has a 12-month trailing dividend yield of 0.24%. Sector Exposure and Top Holdings Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis. This ETF has heaviest allocation to the Information Technology sector--about 30.90% of the portfolio. Healthcare and Industrials round out the top three. Looking at individual holdings, Workday Inc Class A (WDAY) accounts for about 1.59% of total assets, followed by Mercadolibre Inc (MELI) and Hilton Worldwide Holdings Inc (HLT). The top 10 holdings account for about 12.22% of total assets under management. Performance and Risk JKH seeks to match the performance of the Morningstar Mid Growth Index before fees and expenses. The Morningstar Mid Growth Index measures the performance of stocks issued by mid-capitalization companies. The Morningstar index methodology defines mid-capitalization stocks as those stocks that form the 20% of market capitalization between the 70th and 90th percentile of the market capitalization of the stocks eligible to be included in the Morningstar US Market Index. The ETF return is roughly 26.82% so far this year and it's up approximately 12.62% in the last one year (as of 06/27/2019). In the past 52-week period, it has traded between $180.97 and $253.20. The ETF has a beta of 1.09 and standard deviation of 14.41% for the trailing three-year period, making it a medium risk choice in the space. With about 199 holdings, it effectively diversifies company-specific risk. Alternatives IShares Morningstar Mid-Cap Growth ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, JKH is an excellent option for investors seeking exposure to the Style Box - Mid Cap Growth segment of the market. There are other additional ETFs in the space that investors could consider as well. The iShares S&P Mid-Cap 400 Growth ETF (IJK) and the iShares Russell Mid-Cap Growth ETF (IWP) track a similar index. While iShares S&P Mid-Cap 400 Growth ETF has $7.46 B in assets, iShares Russell Mid-Cap Growth ETF has $10.74 B. IJK has an expense ratio of 0.25% and IWP charges 0.25%. Bottom-Line While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency. To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center. 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 reportiShares Morningstar Mid-Cap Growth ETF (JKH): ETF Research ReportsMercadoLibre, Inc. (MELI) : Free Stock Analysis ReportWorkday, Inc. (WDAY) : Free Stock Analysis ReportiShares Russell Mid-Cap Growth ETF (IWP): ETF Research ReportsHilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis ReportiShares S&P Mid-Cap 400 Growth ETF (IJK): ETF Research ReportsTo read this article on Zacks.com click here.
Should You Invest in the Invesco S&P 500 Equal Weight Industrials ETF (RGI)? Looking for broad exposure to the Industrials - Broad segment of the equity market? You should consider the Invesco S&P 500 Equal Weight Industrials ETF (RGI), a passively managed exchange traded fund launched on 11/01/2006. While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency. Sector ETFs also provide investors access to a broad group of companies in particular sectors that offer low risk and diversified exposure. Industrials - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 10, placing it in bottom 38%. Index Details The fund is sponsored by Invesco. It has amassed assets over $204.85 M, making it one of the average sized ETFs attempting to match the performance of the Industrials - Broad segment of the equity market. RGI seeks to match the performance of the S&P 500 Equal Weight Industrials Index before fees and expenses. This index is an unmanaged equal weighted version of the S&P 500 Industrials Index that consists of the common stocks of the following industries: aerospace & defense, building products, construction & engineering, electrical equipment, conglomerates, machinery; commercial services & supplies, air freight & logistics, airlines, marine, road & rail transportation infrastructure. Costs Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same. Annual operating expenses for this ETF are 0.40%, making it one of the cheaper products in the space. It has a 12-month trailing dividend yield of 1.40%. Sector Exposure and Top Holdings ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis. This ETF has heaviest allocation in the Industrials sector--about 100% of the portfolio. Looking at individual holdings, Arconic Inc (ARNC) accounts for about 1.79% of total assets, followed by Copart Inc (CPRT) and Equifax Inc (EFX). The top 10 holdings account for about 16.64% of total assets under management. Performance and Risk Year-to-date, the Invesco S&P 500 Equal Weight Industrials ETF return is roughly 20.86% so far, and is up about 9.21% over the last 12 months (as of 06/27/2019). RGI has traded between $96.98 and $129.25 in this past 52-week period. The ETF has a beta of 1.20 and standard deviation of 14.91% for the trailing three-year period, making it a medium risk choice in the space. With about 69 holdings, it effectively diversifies company-specific risk. Alternatives Invesco S&P 500 Equal Weight Industrials ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, RGI is a sufficient option for those seeking exposure to the Industrials ETFs area of the market. Investors might also want to consider some other ETF options in the space. Vanguard Industrials ETF (VIS) tracks MSCI US Investable Market Industrials 25/50 Index and the Industrial Select Sector SPDR Fund (XLI) tracks Industrial Select Sector Index. Vanguard Industrials ETF has $3.52 B in assets, Industrial Select Sector SPDR Fund has $10.22 B. VIS has an expense ratio of 0.10% and XLI charges 0.13%. Bottom Line To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center. 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 reportInvesco S&P 500 Equal Weight Industrials ETF (RGI): ETF Research ReportsEquifax, Inc. (EFX) : Free Stock Analysis ReportIndustrial Select Sector SPDR Fund (XLI): ETF Research ReportsVanguard Industrials ETF (VIS): ETF Research ReportsArconic Inc. (ARNC) : Free Stock Analysis ReportCopart, Inc. (CPRT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
How Tom Holland drinks while wearing his Spider-Man costume is eye-watering Tom Holland as Spider-Man (Credit: Sony) Super suits might seem like a really great idea, but the reality of the matter is that they're a massive pain in the backside. Since superhero movies immemorial, actors have struggled with outfits that give them astounding powers on screen, but astounding drudgery behind the scenes. This is most certainly the case with Tom Holland's Tony Stark designed suit for Spider-Man, which makes basics like drinking water a tedious chore. Read more: Original ending of Dark Phoenix revealed Speaking about the general inconvenience, he told Entertainment Tonight : “It’s an interesting contraption to say the least. “Basically, my eyes in my mask, they clip off, they come off, because they’re glass, and obviously the suit is fabric, and they need to clip in. View this post on Instagram A post shared by Jon Watts (@jnwtts) on Jun 26, 2019 at 1:28pm PDT “And what I can do is I can take my left one out, and there’s a little, like, thing that I pull out, and then I put a tube, a squeezy tube, down into my mouth, and then I can drink from a bottle.” Spider-Man: Far From Home director shared a snap of his drink hack on his Instagram - see above. Holland didn't stop simply at water, however. “But what I found out now is if I push the mask forward, I can now squeeze like gum and stuff, down the eye hole,” he went on. Read more: Hilarious Spider-Man photoshop fail “I’ve had a KitKat in the suit now.” Sounds like he actually quite enjoyed the challenge in the end. But others have been less enthusiastic. Oscar Isaac last year recalled the abject misery of playing the supervillain Apocalypse in X-Men: Apocalypse . Cheer up, Oscar (Credit: Fox) He reckons the extent of the necessary make-up was not fully conveyed to him when he signed up, so the 'excruciating' experience of being 'encased in glue, latex, and a 40 pound suit', which had to have its own cooling system, came as a bit of a shock. “I had to sit on a specially designed saddle, because that’s the only thing I could really sit on, and I would be rolled into a cooling tent in between takes,” he told GQ . Story continues “And every time I moved, it was just like rubber and plastic squeaking, so everything I said had to be dubbed later as well. And then getting it off was the worst part, because they just had to kind of scrape it off for hours and hours. So, that was X-Men: Apocalypse .” See, Tom? At least there was no saddle to contend with. Holland will be back on screen in his Spidey suit on July 2 in Spider-Man: Far From Home.
India shelves sale of Air India for now By Aditi Shah and Aftab Ahmed NEW DELHI (Reuters) - India has put on hold plans to sell a stake in debt-laden state-run carrier Air India because of high oil prices and volatile foreign currency movements, the country's junior civil aviation minister said on Thursday. "The present environment is not conducive to stimulate interest amongst investors for strategic disinvestment of Air India in the immediate near future," Hardeep Singh Puri said in parliament. The government will revisit the sale once global economic conditions become more conducive, he said. India's aviation sector is facing turmoil with one of its biggest private carriers, Jet Airways, facing bankruptcy, while passenger growth in the market overall has slowed. India last year failed in its attempt to sell a 76% stake in loss-making Air India due to a lack of interest from bidders and said it would return with an alternative proposal soon. While the government said at the time that it was forced to review the plan because of high oil prices, a weaker rupee and rising interest rates, potential bidders suggested they found some of the stake sale terms too onerous, making it a non-starter. The government has since hived off a part of the airline's debt, about 300 billion rupees ($4.34 billion), into a separate entity and is trying to sell off some of its assets and subsidiaries, such as the ground-handling unit, piecemeal. "The government has prepared a revival plan for Air India which includes a comprehensive financial package," Puri said, adding it would focus on increasing revenue and reducing costs. The government injected 39.75 billion rupees into the airline in the fiscal year that ended March 31. Air India is expected to report a loss of more than 76 billion rupees for the same year, Puri told parliament. ($1 = 69.0962 Indian rupees) (Reporting by Aditi Shah; Editing by Martin Howell and Susan Fenton)
What Did Syros Pharmaceuticals, Inc.'s (NASDAQ:SYRS) CEO Take Home Last Year? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Nancy Simonian has been the CEO of Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) since 2012. First, this article will compare CEO compensation with compensation at similar sized companies. After that, we will consider the growth in the business. Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. The aim of all this is to consider the appropriateness of CEO pay levels. See our latest analysis for Syros Pharmaceuticals Our data indicates that Syros Pharmaceuticals, Inc. is worth US$306m, and total annual CEO compensation is US$3.0m. (This figure is for the year to December 2018). Notably, that's an increase of 36% over the year before. While we always look at total compensation first, we note that the salary component is less, at US$560k. We examined companies with market caps from US$200m to US$800m, and discovered that the median CEO total compensation of that group was US$1.7m. As you can see, Nancy Simonian is paid more than the median CEO pay at companies of a similar size, in the same market. However, this does not necessarily mean Syros Pharmaceuticals, Inc. is paying too much. A closer look at the performance of the underlying business will give us a better idea about whether the pay is particularly generous. You can see a visual representation of the CEO compensation at Syros Pharmaceuticals, below. On average over the last three years, Syros Pharmaceuticals, Inc. has grown earnings per share (EPS) by 92% each year (using a line of best fit). It achieved revenue growth of 477% over the last year. This demonstrates that the company has been improving recently. A good result. It's great to see that revenue growth is strong, too. These metrics suggest the business is growing strongly. Shareholders might be interested inthisfreevisualization of analyst forecasts. With a three year total loss of 60%, Syros Pharmaceuticals, Inc. would certainly have some dissatisfied shareholders. So shareholders would probably think the company shouldn't be too generous with CEO compensation. We compared the total CEO remuneration paid by Syros Pharmaceuticals, Inc., and compared it to remuneration at a group of similar sized companies. As discussed above, we discovered that the company pays more than the median of that group. Importantly, though, the company has impressed with its earnings per share growth, over three years. On the other hand returns to investors over the same period have probably disappointed many. This doesn't look great when you consider CEO remuneration is up on last year. Considering the per share profit growth, but keeping in mind the weak returns, we'd need more time to form a view on CEO compensation. Whatever your view on compensation, you might want tocheck if insiders are buying or selling Syros Pharmaceuticals shares (free trial). If you want to buy a stock that is better than Syros Pharmaceuticals, thisfreelist of high return, low debt companies is a great place to look. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Madonna defends graphic violence in gun massacre music video for God Control Honoree Madonna accepts the advocate for change award at the 30th annual GLAAD Media Awards at the New York Hilton Midtown on Saturday, May 4, 2019, in New York. (Photo by Evan Agostini/Invision/AP) Madonna has defended her new music video featuring a shooting massacre in a nightclub, saying “Does it make you feel bad? Good, 'cause then maybe you will do something about it." The Queen of Pop calls for people to "wake up" to the reality of gun violence in the video for new track God Control with a video recalling the 2016 Pulse nightclub shooting in Orlando, Florida, in which 49 people were killed. Reaction to the video on social media has seen it branded disturbing and unwatchable. Read more: Madonna makes powerful gun control statement in disturbing music video: ‘We need to wake up’ Madonna told: "Seeing the reality, and the brutality of things makes you wake up. This is really happening. This is what it looks like. Does it make you feel bad? Good, 'cause then maybe you will do something about it." She added that gun violence "is the biggest problem in America right now", adding: "I cannot take it any more." The 60-year-old mother-of-six also told CNN: "This is what happens when people shoot". Patience Carter, a survivor of the Pulse nightclub massacre, wrote on Twitter: “I couldn’t even watch after the first 45 secs @Madonna There are so many creative avenues that could’ve been taken to bring awareness to gun control. The Victims of these mass shootings should always be taken into consideration. I applaud the attempt, but I am truly disturbed.” I couldn’t even watch after the first 45 secs @Madonna There are so many creative avenues that could’ve been taken to bring awareness to gun control. The Victims of these mass shootings should always be taken into consideration. I applaud the attempt, but I am truly disturbed. https://t.co/n8VO2KfpNR — Patience N Carter (@Patience326_) June 26, 2019 The video ends with a close-up of tears spilling down Madonna’s face, along with a call to action for viewers to support multiple organisations fighting for gun-safety legislation, including Everytown for Gun Safety Support Fund , March For Our Lives Foundation , Gays Against Guns , Sandy Hook Promise Foundation , Human Rights Campaign Foundation , National LGBTQ Task Force , National Center for Transgender Equality , National Coalition Against Domestic Violence , One Pulse for America , States United to Prevent Gun Violence , and the Marsha P. Johnson Institute . Story continues WARNING: VIDEO BELOW CONTAINS VERY GRAPHIC DEPICTIONS OF GUN VIOLENCE. View this post on Instagram A post shared by Madonna (@madonna) on Jun 26, 2019 at 1:04pm PDT In a statement released in conjunction with the video, Madonna explained, "I want to draw attention through my platform as an artist to a problem in America that is out of control and is taking the lives of innocent people. This crisis can end if our legislators act to change the laws that fail to protect us all." Read more: Madonna wants to direct her own biopic The Madame X star said in a recent interview: “As a mother, you feel protective and responsible for all of the children in the world. It’s really scary to me that the once-safe spaces where we gather, worship and learn are targets. Nobody’s safe. So of course, as a mother, I acutely feel the worry.”
UPDATE 3-Walgreens beats estimates on prescription drug sales, shares rise (Adds details from conference call, analyst comment, background) By Manas Mishra and Aakash B June 27 (Reuters) - Walgreens Boots Alliance Inc on Thursday posted a better-than-expected quarterly profit as the drugstore chain benefited from a rise in branded drug prices and an increase in the number of prescriptions it fills in the United States. Shares of the Deerfield, Illinois-based company, which also maintained its forecast for full-year profit, rose nearly 5% to $54.84 in morning trading. The earnings report helped soothe some of the investor worries after the company, plagued by low reimbursements, slashed its full-year adjusted earnings growth forecast in April from a range of 7% to 12% to roughly flat. Walgreens, which replaced General Electric Co GE.N on the blue-chip Dow Jones Industrial Average Index last year, is the worst performing stock on the index, with year-to-date losses of 23.4% through Wednesday close. "Many people are looking at our company ... focusing on the immediate risk that we have to face," Chief Executive Officer Stefano Pessina said. "And understand this, we're far from complacent about the pressures we face." The company said it has been able to cushion reimbursement pressures from insurers in recent years through benefits it received in the process of procuring generic drugs. However, as prices of generic drugs stabilize, Walgreens said its dependence on these benefits has reduced. "Recognizing this, we are accelerating our other levers to mitigate the pressure," Pessina said on a conference call. Walgreens said it was reviewing its retail footprint in the United States, and highlighted partnerships it had with other companies such as FedEx Corp and Kroger Co to offer a range of services at its pharmacies. The performance in the company's UK Boots business, however, continued to lag. Boots plans to close stores where it has several sites on the same shopping street, Seb James, managing director of the 170-year old Boots UK business, told Reuters on Wednesday. Same-store sales at its U.S. pharmacies rose 6% in the third quarter as it filled 290.7 million prescriptions. Three analysts polled by Refinitiv had expected a 2.9% rise in same-store sales. "While one quarter does not make a trend, it was good to see pharmacy sales in the U.S. outperform our expectations, despite ongoing reimbursement challenges," Edward Jones analyst John Boylan said. Excluding items, the company earned $1.47 per share in the third quarter ended May 31, beating analysts' expectations of $1.43 per share, according to IBES data from Refinitiv. (Reporting by Aakash Jagadeesh Babu and Manas Mishra in Bengaluru; Editing by Maju Samuel)
India: Another Crypto Exchange Closes Due to Regulatory Pressure IndiancryptoexchangeKoinex has ceased operations effective immediately, co-founder Rahul Raj confirmed in ablog poston June 27. Raj said multiple delays by government agencies in clarifying crypto regulation have played a factor in the decision to close. This month’s proposal tointroducea 10-year jail sentence for Indian citizens who use cryptocurrencies had also contributed to a “sharp decline in trading volumes.” According to Raj, Koinex had experienced “regular disruption,” including denials when attempting to use payment services. He alleged this disruption extended to non-crypto transactions as well – with exchange employees asked questions by banks whenever they received their salary or attempted to pay their rent. Warning that it was no longer economically feasible to serve customers, Raj added: “The final decision has been taken after duly considering all the latest developments in the crypto andblockchainindustry in India… Unfortunately we’re not too hopeful that things will change for the better in the near future.” Raj said the exchange plans to refund frozen deposits to bank accounts over the next five weeks, and urged users to empty theircrypto walletsby July 15. In May, another Indian cryptocurrency exchange, Coinome, alsoannouncedthat it was closing its doors because of regulatory difficulties. Last week, it wasreportedthatFacebookhas not applied for approval to operatelibra, its newly announced cryptocurrency, in India. • Binance Discussing Libra With Facebook, Exchange Exec Reveals • Oxfam Trials Aid Distribution With DAI, Future Use 'Highly Likely' • Cortex Launches Deep Learning and AI Network for Decentralized Apps • 'Future is Here' Declares CEO as Binance Transfers $1.2 Billion For Under 2 Cents
Greece ETF (GREK) Hits New 52-Week High For investors seeking momentum,Global X MSCI Greece ETF GREKis probably on radar now. The fund just hit a 52-week high, and is up about 40.5% from its 52-week low price of $6.77/share. But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed: GREK in Focus The fund looks to track the MSCI All Greece Select 25/50 Index. It charges 59 bps in fees. Hellenic Telecom (13%), Alpha Bank AE (9.67%) and Eurobank Ergasias SA (9.48%) are the top three holdings of the fund (see all European Equity ETFs here). Why the Move? The Greek stock market has been on a tear on a recovering economy. There has been a rise in liquidity in local financial institutions. Banks have almost repaid emergency European Central Bank (ECB) liquidity assistance, per Global X report. In March, Moody’s raised Greece’s long-term debt rating by two notches. Additionally, a big defeat of the ruling leftist coalition in regional and Euro elections has also added to the strength. More Gains Ahead? The fund has a Zacks Rank #4 (Sell). After a sturdy year-to-date rally, probably the fund is overvalued at the current level. Want key ETF info delivered straight to your inbox? Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> 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 reportGlobal X MSCI Greece ETF (GREK): 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
If You Had Bought BrightView Holdings (NYSE:BV) Stock A Year Ago, You'd Be Sitting On A 14% Loss, Today Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! While not a mind-blowing move, it is good to see that theBrightView Holdings, Inc.(NYSE:BV) share price has gained 27% in the last three months. But that doesn't change the fact that the returns over the last year have been less than pleasing. In fact the stock is down 14% in the last year, well below the market return. See our latest analysis for BrightView Holdings BrightView Holdings isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. When a company doesn't make profits, we'd generally expect to see good revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size. In just one year BrightView Holdings saw its revenue fall by 0.05%. That's not what investors generally want to see. Shareholders have seen the share price drop 14% in that time. What would you expect when revenue is falling, and it doesn't make a profit? We think most holders must believe revenue growth will improve, or else costs will decline. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. You can see what analysts are predicting for BrightView Holdings in thisinteractivegraph of future profit estimates. While BrightView Holdings shareholders are down 14% for the year, the market itself is up 6.9%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. It's great to see a nice little 27% rebound in the last three months. Let's just hope this isn't the widely-feared 'dead cat bounce' (which would indicate further declines to come). It is all well and good that insiders have been buying shares, but we suggest youcheck here to see what price insiders were buying at. There are plenty of other companies that have insiders buying up shares. You probably donotwant to miss thisfreelist of growing companies that insiders are buying. 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.
Should Tricida (NASDAQ:TCDA) Be Disappointed With Their 35% Profit? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Passive investing in index funds can generate returns that roughly match the overall market. But investors can boost returns by picking market-beating companies to own shares in. For example, theTricida, Inc.(NASDAQ:TCDA) share price is up 35% in the last year, clearly besting than the market return of around 4.6% (not including dividends). That's a solid performance by our standards! We'll need to follow Tricida for a while to get a better sense of its share price trend, since it hasn't been listed for particularly long. View our latest analysis for Tricida Tricida hasn't yet reported any revenue yet, so it's as much a business idea as an actual business. As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. It seems likely some shareholders believe that Tricida will significantly advance the business plan before too long. As a general rule, if a company doesn't have much revenue, and it loses money, then it is a high risk investment. There is usually a significant chance that they will need more money for business development, putting them at the mercy of capital markets. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some companies like this go on to deliver on their plan, making good money for shareholders, many end in painful losses and eventual de-listing. Tricida had cash in excess of all liabilities of US$154m when it last reported (March 2019). That's not too bad but management may have to think about raising capital or taking on debt, unless the company is close to breaking even. Given the share price has increased by a solid 35% in the last year, its fair to say investors remain excited about the future, despite the potential need for cash. You can click on the image below to see (in greater detail) how Tricida's cash levels have changed over time. You can see in the image below, how Tricida's cash levels have changed over time (click to see the values). Of course, the truth is that it is hard to value companies without much revenue or profit. One thing you can do is check if company insiders are buying shares. If they are buying a significant amount of shares, that's certainly a good thing. You canclick here to see if there are insiders buying. It's nice to see that Tricida shareholders have gained 35% over the last year. We regret to report that the share price is down 9.2% over ninety days. Shorter term share price moves often don't signify much about the business itself. If you want to research this stock further, the data on insider buying is an obvious place to start. You canclick here to see who has been buying shares - and the price they paid. Tricida is not the only stock that insiders are buying. For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on 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.
Maple Gold Reports Additional Drill Results from the Porphyry Zone Montreal, Quebec--(Newsfile Corp. - June 27, 2019) - Maple Gold Mines Ltd. ( TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G ) (" Maple Gold " or the " Company ") is pleased to report additional results within the Porphyry Zone from its 6,045 metre winter 2019 drilling campaign. The Company drilled a total of eight (8) holes (3,120m) within the Porphyry Zone, with all eight holes intersecting gold mineralisation. Targets in the Porphyry Zone were selected with the aim of extending known zones with higher than deposit-average grades, both near-surface and at moderate depths. New assay results are highlighted below, using a 0.25 g/t Au cut-off grade (see Table 1): DO-19-264 cut 27m averaging 1.03 g/t Au, including 14m averaging 1.56 g/t Au, both from 488m downhole (approximately 300m vertical) . This new intercept is found within a significantly broader (60m) halo of variable and lower grade Au mineralisation. DO-19-263 cut 8.7m averaging 1.14 g/t Au from 273m downhole (approximately 200m vertical), including 6m of 1.45 g/t Au, which tested the up-dip extension of an area drilled during 2018. DO-19-265 cut 13m averaging 1.04 g/t Au from 66m downhole or about 40m vertically (from top of bedrock), including 9m averaging 1.36 g/t Au , confirming the presence of near-surface higher than deposit-average grades in this area. DO-19-267 cut multiple intercepts, including 7m averaging 1.49 g/t Au from 145m downhole (approximately 130m vertical), confirming up-dip continuity of a 2018 drill intercept DO-19-268 cut multiple intercepts over 1 g/t Au, including 1m averaging 9.89 g/t Au from 269m downhole (approximately 215m vertical), within a 5.5m interval with variable grade averaging 2.33 g/t Au . This hole ended in mineralisation . The new highlighted intercepts reported above build upon the previously announced 2019 results from the Porphyry Zone, which included DO-19-258 with 19m averaging 2.46 g/t Au (DO-19-258) within a broader interval of 41m averaging 1.41 g/t Au and DO-19-256 with multiple near-surface intercepts including 16m averaging 1.57 g/t Au (see press release May 29, 2019). Story continues Maple Gold's VP, Exploration, Fred Speidel, commented: "We are pleased with the results to-date from our focused 6,045 metre drill campaign, as we have consistently intersected and extended gold zones within the resource area. These new Porphyry Zone results will continue to help guide our down-dip / down-plunge targeting of higher grade mineralisation going forward." Figure 1 (below) illustrates the spatial distribution of the 2019 drill-holes within the Porphyry Zone, with corresponding assay results presented in table 1 below. Cannot view this image? Visit: https://media.zenfs.com/en-us/newsfile_64/0e676979dd50ed3e0cddd869625c6b9e Fig. 1: Drill plan with 2019 Porphyry and 531 Zone drill-holes on residual total field magnetic background image. To view an enhanced version of Fig. 1, please visit: https://orders.newsfilecorp.com/files/3077/45942_2ca199ee24df599c_001full.jpg Cannot view this image? Visit: https://media.zenfs.com/en-us/newsfile_64/27f4344e162acbe5dd29d921af9737fe Fig. 2: Section 706650E with ±50m corridor; mineralised zone uses 0.1 g/t cut-off. DO-18-216 is off section. To view an enhanced version of Fig. 2, please visit: https://orders.newsfilecorp.com/files/3077/45942_2ca199ee24df599c_002full.jpg Hole DO-19-264 was originally designed to test the depth continuity of a very strong 2018 intercept in DO-18-216 (52m averaging 3.53 g/t Au, or 1.46 g/t Au capped at 13 g/t). However, the 2019 hole deviated more than expected, with the above-mentioned holes ending approximately 150m apart in an EW direction down-hole. Therefore, the depth continuity was not adequately tested as planned. However, results from DO-19-264 still support the down-dip continuity of the broader mineralisation envelope and the presence of higher grade mineralisation within it. The Company will continue testing the down-plunge continuity of these higher grade zones or shoots in a subsequent drilling campaign. Table 1: Highlighted 2019 Drill Intercepts from the Porphyry Zone and Exploration Area (10 holes in total) Cannot view this image? Visit: https://media.zenfs.com/en-us/newsfile_64/abccbb338ca4bd79a6ed8b9d9cbe57ec To view an enhanced version of this Table 1, please visit: https://orders.newsfilecorp.com/files/3077/45942_2ca199ee24df599c_003full.jpg *Denotes new assays results (DO-19-256, DO-19-258 and DO-19-260 were first reported on May 29, 2019). All intervals are downhole lengths, with true estimated width varying from approximately 70-90% depending on the hole and mineralised zone orientation. Capping in the Porphyry Zone is done at 13 g/t Au per Micon (2018). Cut-off used for broader intercepts is 0.25 g/t Au. **Denotes two greenfield exploration drill-holes (see text below). The Company also drilled two greenfield exploration holes (DO-19-259 and -261) more than 1km south of the Porphryry Zone. These two drill holes were targeting potential new gold zones in an area that had previously yielded multiple narrow intercepts from 1-17 g/t Au. A single zone gave 1.05 g/t Au over 1.8m in one of the holes, with anomalous Zn also indicative of base metal potential in this general area. Additional figures and core images corresponding to the drill-holes reported in this press release will be posted to the Company's website shortly. Qualified Person The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc, P. Geo., Vice-President Exploration, of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work. Quality Assurance (QA) and Quality Control (QC) Maple Gold implements strict Quality Assurance ("QA") and Quality Control ("QC") protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drill-hole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to ALS laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company's QA/QC page on the website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement About Maple Gold Maple Gold is an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world's premier mining jurisdictions. The Company's ~355 km² Douay Gold Project is located along the Casa Berardi Deformation Zone (55 km of strike) within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project benefits from excellent infrastructure and has an established gold resource 3 that remains open in multiple directions. For more information please visit www.maplegoldmines.com . ON BEHALF OF MAPLE GOLD MINES LTD. "Matthew Hornor" B. Matthew Hornor, President & CEO For Further Information Please Contact: Mr. Joness Lang VP, Corporate Development Cell: 778.686.6836 Email: jlang@maplegoldmines.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE. Forward Looking Statements: This news release contains "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada, including statements about the prospective mineral potential of the Porphyry Zone, the potential for significant mineralisation from other drilling in the referenced drill program and the completion of the drill program. Forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.maplegoldmines.com . The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. Corporate Logo To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45942
Minera Alamos Receives Positive Change of Land Use Notice for its Permit Application at Santana Gold Project Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - June 27, 2019) - Minera Alamos Inc. (TSXV: MAI) ("Minera" or the "Company") is pleased to announce that it has received notification from the Mexican environmental authorities (Secretaria de Medio Ambiente y Recursos Naturales - "SEMARNAT") regarding the Company's permit application (MIA-ETJ) for the development of the Santana gold project ("Santana"). The notification confirms the successful completion of the technical review phase of the Company's application (Estudio Tecnico Justificativo - "ETJ") for the change of land use to allow the Company to construct mining and processing facilities at the Santana project area. Following the completion of the change of land use payments, SEMARNAT will be in a position to issue the formal approval documentation for the Santana project. "The receipt of this notification represents another major milestone for the Company. Despite the anticipated delays related to the changes in the Mexican government in 2018, this notice was received approximately one year following our permitting application for commercial production at Santana," stated Darren Koningen, CEO of Minera Alamos. "Our highly experienced Mexican technical team continues to demonstrate the ability to concurrently advance our full portfolio of late-stage gold development projects. Mexico remains one of the world's premier mine development locations with respect to the timeframes required for permitting of new operations. We are excited to advance the Company's Santana gold project which remains our top priority for construction consideration in 2019." The receipt of a MIA-ETJ permit for Santana will allow the Company to initiate applications for other state/local permits that will be required in advance of any commercial mine production. These lesser permits cover activities such as water use and explosives. In addition, the Company can now proceed with advanced discussions with potential contractors related to mining, crushing, construction, etc. The Santana MIA-ETJ applications were structured to provide the Company with significant flexibility to further optimize the development approach for the project and the ability to expand the project operations organically once resources are increased. While certain state and local permits are required to commence mining operations the successful completion of the MIA-ETJ permit process will allow the Company to commence all necessary earthworks and construction activities in advance of mining operations. As planning activities ramp up over the summer, the Company will provide regular updates as to the progress on multiple fronts. Additionally, efforts are underway to complete Phase 2 of the exploration and development drilling program at the Santana project. The new program was designed to demonstrate the potential of the project to host multiple "Nicho-style" mineralized systems that could be combined to supply feed material for an expanded regional production facility. Drilling will follow-up on the step out holes at the main Nicho deposit where Phase 1 drilling returned holes that included: 80.4m of 1.05 g/t Au and 127m of 0.81 g/t Au (see news releases dated October 17, 2018 and November 1st, 2018). Additionally, the Divisadero discovery hole (95.7m of 1.47 g/t AuEq -see news release dated October 25th, 2018), remains the only hole drilled into a new system that has been traced at surface over an extent of 300-400m before it disappears under surface cover. This area as well as other newly defined Nicho-style pipes like Zata have now been well defined at surface but remained largely undrilled as of the end of the 2018 Phase 1 program. Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of and has approved the scientific and technical disclosures in this news release. About Minera Alamos: Minera Alamos is an advanced-stage exploration and development company with a portfolio of high-quality Mexican development assets, including the La Fortuna open-pit gold project in Durango (positive PEA completed and permits granted) and the Santana open-pit heap-leach development project in Sonora (test mining and processing completed). The Company's strategy is to develop low capex, high margin assets with expansion opportunities while continuing to pursue complementary strategic acquisitions. For Further Information Please Contact: Minera Alamos Inc.Doug Ramshaw, PresidentTel: 604-600-4423Email:dramshaw@mineraalamos.comWebsite:www.mineraalamos.com Caution Regarding Forward-Looking Statements: This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos' future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45935
Is American Funds EuroPacific Growth F (AEGFX) a Strong Mutual Fund Pick Right Now? Any investors hoping to find a Non US - Equity fund could think about starting with American Funds EuroPacific Growth F (AEGFX). AEGFX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance. Objective AEGFX is classified in the Non US - Equity area by Zacks, and this segment is full of potential. Non US - Equity funds focus their investments on companies outside of the United States, which is an important distinction since global mutual funds tend to keep a sizable portion of their portfolio based in the United States. Most of these funds will allocate across emerging and developed markets, and can often extend across cap levels too. History of Fund/Manager AEGFX finds itself in the American Funds family, based out of Los Angeles, CA. American Funds EuroPacific Growth F made its debut in April of 1984, and since then, AEGFX has accumulated about $3.43 billion in assets, per the most up-to-date date available. The fund is currently managed by a team of investment professionals. Performance Investors naturally seek funds with strong performance. AEGFX has a 5-year annualized total return of 2.93% and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 7.36%, which places it in the top third during this time-frame. When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 9.06%, the standard deviation of AEGFX over the past three years is 12.06%. Over the past 5 years, the standard deviation of the fund is 11.87% compared to the category average of 9.45%. This makes the fund more volatile than its peers over the past half-decade. Risk Factors One cannot ignore the volatility of this segment, however, as it is always important for investors to remember the downside to any potential investment. AEGFX lost 51.3% in the most recent bear market and outperformed its peer group by 7.16%. This means that the fund could possibly be a better choice than its peers during a down market environment. Nevertheless, investors should also note that the fund has a 5-year beta of 0.83, which means it is hypothetically less volatile than the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. Over the past 5 years, the fund has a negative alpha of -4.65. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns. Expenses Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, AEGFX is a no load fund. It has an expense ratio of 0.86% compared to the category average of 1.20%. AEGFX is actually cheaper than its peers when you consider factors like cost. While the minimum initial investment for the product is $250, investors should also note that each subsequent investment needs to be at least $50. Bottom Line Overall, American Funds EuroPacific Growth F ( AEGFX ) has a high Zacks Mutual Fund rank, strong performance, average downside risk, and lower fees compared to its peers. For additional information on this product, or to compare it to other mutual funds in the Non US - Equity, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible. 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 reportGet Your Free (AEGFX): Fund Analysis ReportTo read this article on Zacks.com click here.
No Rate Hike a Boon for Utilities: 4 Utility Stocks in Focus The Federal Reserve acted as expected and kept the interest rate unchanged at 2.25% to 2.5% in the first half of 2019.Why Fed Changed its View?After raising rates nine times since December 2015, the Federal Reserve decided to take a cautious approach on rate hikes. The ongoing trade dispute with China, data pointing toward a softening economy and inflation rate below the committee’s 2% target are the primary reasons for the rate freeze. In fact, these could even lead to a rate cut, per Fed Chair Jerome Powell, who backed the central bank’s decision with an intention “to sustain the economic expansion, with a strong job market and stable prices, for the benefit of the American people.”Powell added that given the prevailing uncertainties and subdued inflation pressures, the Fed will observe the implications of all new information for the economic outlook and “will act as appropriate to sustain the expansion, with a strong labor market and inflation near its 2% objective.”Inflation is expected to be about 1% in 2019, 1.9% in 2020 and 2% in 2021. According to Powell, “Inflation has been running somewhat below our objective, but we have expected it to pick up, supported by solid growth and a strong job market.”Possibility of Rate Cuts, Welcome Change for UtilityRate hikes are welcomed by some sectors like Banking in anticipation of higher interest income. But the capital-intensive Utility sector might cringe at the thought of it for it takes recourse to external sources of financing to meet its capital requirements. In a way, the interest rate freeze lowers this sector’s cost of capital allowing it to continue with capital intensive infrastructural development work.Fed officials kept the 2019 interest rate at 2.4%, unchanged from its March FOMC meeting. However, interest rate projection for 2020 and 2021 has been revised down. The rate is now projected at 2.1% down from 2.6% for 2020, and 2.4% versus 2.6% expected earlier for 2021. The same should be 2.5% over the long haul, down from the 2.8% forecast made at the meeting held in March. This development will certainly benefit the cause of utility companies.Our Earnings Outlook report indicates that Utility sector earnings will improve 2.5% in the second quarter of 2019 on the back of a 2.5% improvement in total revenues.4 Utility Stocks in FocusAgainst such a macro backdrop, investors may like to focus on utility stocks with strong fundamentals and provide steady returns to investors.It’s an intimidating task to zero in on underpriced stocks with high growth potential. The Zacks Stock Screener makes this work relatively simpler.The year-to-date returns of these companies were better than the Zacks S&P 500 composite’s return of 15.1%, and dividend yield is better than Zacks S&P 500 composite’s yield of 1.92%.Sioux Falls, SD basedNorthWestern CorporationNWE provides electricity and natural gas to various groups of customers. The long-term (3 to 5 years) earnings growth of this utility is 3.03%.This Zacks Rank #1 (Strong Buy) stock has a dividend yield of 3.16%. The company pulled off an average positive earnings surprise of 18.74% in the last four quarters.  Its earnings estimate for 2019 has increased 6.2% in the past 60 days. You can seethe complete list of today’s Zacks #1 Rank stocks here. Year-to-date Price Performance Minneapolis, MN-basedXcel Energy Inc.XEL along with its subsidiaries is involved in utility operations. The company operates in eight states. The long-term (3 to 5 years) earnings growth of this utility is 5.61%.This Zacks Rank #3 (Hold) stock has a dividend yield of 2.66%. The company pulled off an average positive earnings surprise of 2.15% in the last four quarters.  Its earnings estimate for 2019 has increased 0.4% in the past 60 days.Columbus, OH-basedAmerican Electric Power CompanyAEP through directly and indirectly owned subsidiaries, generates, transmits and distributes electricity, natural gas and other commodities. The long-term (3 to 5 years) earnings growth of this utility is 5.65%.This Zacks Rank #3 stock has a dividend yield of 2.97%. The company has an average positive earnings surprise of 6.15% for the trailing four quarters.  Its earnings estimate for 2019 has increased 0.5% in the past 60 days.Atlanta, GA-basedSouthern CompanySO is one of the largest utilities in the United States. The company deals with the generation, transmission and distribution of electricity. The long-term (3 to 5 years) earnings growth of this utility is 4.50%.This Zacks Rank #3 stock has a dividend yield of 4.33%. The company delivered an average positive earnings surprise of 6.66% in the last four quarters.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmerican Electric Power Company, Inc. (AEP) : Free Stock Analysis ReportXcel Energy Inc. (XEL) : Free Stock Analysis ReportSouthern Company (The) (SO) : Free Stock Analysis ReportNorthWestern Corporation (NWE) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Does Tricida's (NASDAQ:TCDA) Share Price Gain of 35% Match Its Business Performance? Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! Passive investing in index funds can generate returns that roughly match the overall market. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). To wit, the Tricida, Inc. ( NASDAQ:TCDA ) share price is 35% higher than it was a year ago, much better than the market return of around 4.6% (not including dividends) in the same period. If it can keep that out-performance up over the long term, investors will do very well! We'll need to follow Tricida for a while to get a better sense of its share price trend, since it hasn't been listed for particularly long. Check out our latest analysis for Tricida Tricida didn't have any revenue in the last year, so it's fair to say it doesn't yet have a proven product (or at least not one people are paying for). So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. Investors will be hoping that Tricida can make progress and gain better traction for the business, before it runs low on cash. Companies that lack both meaningful revenue and profits are usually considered high risk. You should be aware that there is always a chance that this sort of company will need to issue more shares to raise money to continue pursuing its business plan. While some such companies go on to make revenue, profits, and generate value, others get hyped up by hopeful naifs before eventually going bankrupt. Tricida had cash in excess of all liabilities of US$154m when it last reported (March 2019). While that's nothing to panic about, there is some possibility the company will raise more capital, especially if profits are not imminent. With the share price up 35% in the last year, the market is seems hopeful about the potential, despite the cash burn. You can see in the image below, how Tricida's cash levels have changed over time (click to see the values). You can click on the image below to see (in greater detail) how Tricida's cash levels have changed over time. Story continues NasdaqGS:TCDA Historical Debt, June 27th 2019 It can be extremely risky to invest in a company that doesn't even have revenue. There's no way to know its value easily. One thing you can do is check if company insiders are buying shares. It's usually a positive if they have, as it may indicate they see value in the stock. You can click here to see if there are insiders buying. A Different Perspective Tricida boasts a total shareholder return of 35% for the last year. We regret to report that the share price is down 9.2% over ninety days. It may simply be that the share price got ahead of itself, although there may have been fundamental developments that are weighing on it. If you want to research this stock further, the data on insider buying is an obvious place to start. You can click here to see who has been buying shares - and the price they paid. If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them). 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 at editorial-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.
FedEx Adjusts to the Headwinds FedEx's(NYSE: FDX)fiscal fourth-quarter earnings revealed a company in the throes of transformation while it deals with some weaker-than-expected end-market conditions and operational issues relating to the 2016 acquisition of TNT Express. It's an eventful time to say the least, so let's take a closer look at what happened with FedEx's recent earnings report. Starting with the headline numbers from report: • Full-year total revenue increased 6.5% year over year to $69.7 billion, but the $4.24 billion increase was slightly belowCEO Fred Smith's expectationfor a $4.5 billion year-over-year increase. • Full-year adjusted diluted EPS of $15.52 came in at the middle of the guidance range of $15.10-$15.90. Image source: Getty Images. Smith began the earnings call by citing a slowdown in global trade and "the less favorable service mix of TNT Express business after the NotPetya cyberattack and continued rapid growth of e-commerce demand." Surging e-commerce demand, although a good thing in the long-term, is creating the demand forUPS(NYSE: UPS)and FedEx to invest heavily in their networks to service demand, and it also creates margin challenges because of the expensive nature of business-to-consumer deliveries. Essentially, it's botha challenge and an opportunity for FedEx and UPS. The express segment bore the brunt of the difficulties in the quarter. To be fair, it was largely anticipated, as CFO Alan Graf had already prepared investors for a decline in express earnings because of anticipated weakness in international volumes. In addition, on the third-quarter earnings call, Grafsimilarly predictedthe ground segment's impressive revenue growth and its margin compression. In the U.S., total package volume growth was 9.3% in the quarter, with revenue growing by 7.5%. However, it was a different story internationally, with total international export package volume growth rising only 3.2%, and revenue declined 2.3%. [{"FedEx Segment": "Express", "Q4 Revenue": "$9.5 billion", "Year-Over-Year Growth (Decline)": "(1%)", "Operating Income": "$766 million", "Year-Over-Year Growth": "(12%)"}, {"FedEx Segment": "Ground", "Q4 Revenue": "$5.32 billion", "Year-Over-Year Growth (Decline)": "11%", "Operating Income": "$810 million", "Year-Over-Year Growth": "0%"}, {"FedEx Segment": "Freight", "Q4 Revenue": "$1.96 billion", "Year-Over-Year Growth (Decline)": "5%", "Operating Income": "$194 million", "Year-Over-Year Growth": "15%"}, {"FedEx Segment": "Total", "Q4 Revenue": "$17.8 billion", "Year-Over-Year Growth (Decline)": "3%", "Operating Income": "$1.32 billion", "Year-Over-Year Growth": "(1%)"}] Data source: FedEx presentations. Discussing TNT, Smith highlighted the impact of the NotPetya virus on TNT's operations and how it had caused the company to lose business, but he promised investors that "the integration of TNT is now progressing at a good clip, and we will see significant benefits by this time in summer 2021." Meanwhile, 2020 was described as a transitional year, whereby investment for future growth will constrain earnings. In fact, management forecast just mid-single-digit growth in EPS -- before pension accounting adjustments and TNT integration expenses -- for 2020. Moreover, the forecast for capital expenditures of $5.9 billion in 2020 continues the recent trend whereby UPS and FedEx elevate spending to invest for future growth. Data source: FedEx presentations. Chart by author. Just as with UPS, it's a case of wait and see for FedEx investors. Both companies are seeing margin pressure from e-commerce growth and a relative lack of growth from higher-margin activity such as priority deliveries. Moreover, FedEx has to deal with the difficulties of the TNT integration. It could take a little while for the benefits of its investments to come through. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Lee Samahahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends FedEx. The Motley Fool has adisclosure policy.
A Look At The Fair Value Of B2Gold Corp. (TSE:BTO) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In this article we are going to estimate the intrinsic value of B2Gold Corp. (TSE:BTO) by estimating the company's future cash flows and discounting them to their present value. This is done using the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. Anyone interested in learning a bit more about intrinsic value should have a read of theSimply Wall St analysis model. Check out our latest analysis for B2Gold We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: [{"": "Levered FCF ($, Millions)", "2019": "$244.75", "2020": "$357.30", "2021": "$408.60", "2022": "$577.00", "2023": "$413.00", "2024": "$319.57", "2025": "$270.83", "2026": "$243.49", "2027": "$227.71", "2028": "$218.71"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x4", "2020": "Analyst x7", "2021": "Analyst x5", "2022": "Analyst x1", "2023": "Analyst x1", "2024": "Est @ -22.62%", "2025": "Est @ -15.25%", "2026": "Est @ -10.09%", "2027": "Est @ -6.48%", "2028": "Est @ -3.95%"}, {"": "Present Value ($, Millions) Discounted @ 8.54%", "2019": "$225.50", "2020": "$303.31", "2021": "$319.58", "2022": "$415.80", "2023": "$274.21", "2024": "$195.49", "2025": "$152.64", "2026": "$126.45", "2027": "$108.95", "2028": "$96.42"}] Present Value of 10-year Cash Flow (PVCF)= $2.22b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 10-year government bond rate (1.9%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.5%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = US$219m × (1 + 1.9%) ÷ (8.5% – 1.9%) = US$3.4b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= $US$3.4b ÷ ( 1 + 8.5%)10= $1.49b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $3.71b. The last step is to then divide the equity value by the number of shares outstanding. This results in an intrinsic value estimate in the company’s reported currency of $3.68. However, BTO’s primary listing is in Canada, and 1 share of BTO in USD represents 1.312 ( USD/ CAD) share of TSX:BTO,so the intrinsic value per share in CAD is CA$4.83.Compared to the current share price of CA$3.95, the company appears about fair value at a 18% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at B2Gold as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.5%, which is based on a levered beta of 1.105. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For B2Gold, I've put together three important aspects you should further examine: 1. Financial Health: Does BTO have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does BTO's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of BTO? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every CA stock every day, so if you want to find the intrinsic value of any other stock justsearch here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Estimating The Intrinsic Value Of B2Gold Corp. (TSE:BTO) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Does the June share price for B2Gold Corp. (TSE:BTO) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. This is done using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple! Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. Anyone interested in learning a bit more about intrinsic value should have a read of theSimply Wall St analysis model. See our latest analysis for B2Gold We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: [{"": "Levered FCF ($, Millions)", "2019": "$244.75", "2020": "$357.30", "2021": "$408.60", "2022": "$577.00", "2023": "$413.00", "2024": "$319.57", "2025": "$270.83", "2026": "$243.49", "2027": "$227.71", "2028": "$218.71"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x4", "2020": "Analyst x7", "2021": "Analyst x5", "2022": "Analyst x1", "2023": "Analyst x1", "2024": "Est @ -22.62%", "2025": "Est @ -15.25%", "2026": "Est @ -10.09%", "2027": "Est @ -6.48%", "2028": "Est @ -3.95%"}, {"": "Present Value ($, Millions) Discounted @ 8.54%", "2019": "$225.50", "2020": "$303.31", "2021": "$319.58", "2022": "$415.80", "2023": "$274.21", "2024": "$195.49", "2025": "$152.64", "2026": "$126.45", "2027": "$108.95", "2028": "$96.42"}] Present Value of 10-year Cash Flow (PVCF)= $2.22b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 10-year government bond rate (1.9%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.5%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = US$219m × (1 + 1.9%) ÷ (8.5% – 1.9%) = US$3.4b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= $US$3.4b ÷ ( 1 + 8.5%)10= $1.49b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $3.71b. The last step is to then divide the equity value by the number of shares outstanding. This results in an intrinsic value estimate in the company’s reported currency of $3.68. However, BTO’s primary listing is in Canada, and 1 share of BTO in USD represents 1.312 ( USD/ CAD) share of TSX:BTO,so the intrinsic value per share in CAD is CA$4.83.Relative to the current share price of CA$3.95, the company appears about fair value at a 18% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at B2Gold as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.5%, which is based on a levered beta of 1.105. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For B2Gold, I've put together three fundamental factors you should further research: 1. Financial Health: Does BTO have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does BTO's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of BTO? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every CA stock every day, so if you want to find the intrinsic value of any other stock justsearch here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Should You Be Adding TTM Technologies (NASDAQ:TTMI) To Your Watchlist Today? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story stocks' without revenue, let alone profit. But as Peter Lynch said inOne Up On Wall Street, 'Long shots almost never pay off.' In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies likeTTM Technologies(NASDAQ:TTMI). While profit is not necessarily a social good, it's easy to admire a business than can consistently produce it. Loss-making companies are always racing against time to reach financial sustainability, but time is often a friend of the profitable company, especially if it is growing. View our latest analysis for TTM Technologies In the last three years TTM Technologies's earnings per share took off like a rocket; fast, and from a low base. So the actual rate of growth doesn't tell us much. As a result, I'll zoom in on growth over the last year, instead. Like a falcon taking flight, TTM Technologies's EPS soared from US$1.00 to US$1.54, over the last year. That's a impressive gain of 55%. I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). While we note TTM Technologies's EBIT margins were flat over the last year, revenue grew by a solid 4.0% to US$2.8b. That's a real positive. The chart below shows how the company's bottom and top lines have progressed over time. Click on the chart to see the exact numbers. You don't drive with your eyes on the rear-view mirror, so you might be more interested in thisfreereport showing analyst forecasts for TTM Technologies'sfutureprofits. I like company leaders to have some skin in the game, so to speak, because it increases alignment of incentives between the people running the business, and its true owners. So it is good to see that TTM Technologies insiders have a significant amount of capital invested in the stock. Given insiders own a small fortune of shares, currently valued at US$73m, they have plenty of motivation to push the business to succeed. That's certainly enough to make me think that management will be very focussed on long term growth. It means a lot to see insiders invested in the business, but I find myself wondering if remuneration policies are shareholder friendly. A brief analysis of the CEO compensation suggests they are. For companies with market capitalizations between US$400m and US$1.6b, like TTM Technologies, the median CEO pay is around US$2.7m. The TTM Technologies CEO received US$2.0m in compensation for the year ending December 2018. That seems pretty reasonable, especially given its below the median for similar sized companies. While the level of CEO compensation isn't a huge factor in my view of the company, modest remuneration is a positive, because it suggests that the board keeps shareholder interests in mind. I'd also argue reasonable pay levels attest to good decision making more generally. Given my belief that share price follows earnings per share you can easily imagine how I feel about TTM Technologies's strong EPS growth. If you need more convincing beyond that EPS growth rate, don't forget about the reasonable remuneration and the high insider ownership. Each to their own, but I think all this makes TTM Technologies look rather interesting indeed. Now, you could try to make up your mind on TTM Technologies by focusing on just these factors,oryou couldalsoconsider how its price-to-earnings ratio compares to other companies in its industry. Of course, you can do well (sometimes) buying stocks thatare notgrowing earnings anddo nothave insiders buying shares. But as a growth investor I always like to check out companies thatdohave those features. You can accessa free list of them here. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Regeneron & Sanofi Get FDA Nod for Dupixent Label Expansion Regeneron Pharmaceuticals, Inc.REGN and partner Sanofi SNY recenTLY announced that the FDA has approved a label expansion of asthma drug, Dupixent. The drug is now approved for use with other medicines to treat chronic rhinosinusitis with nasal polyposis (CRSwNP) in adults, whose disease is not controlled. The FDA evaluated the Dupixent application for CRSwNP under priority review. The FDA approval was based on encouraging data from two pivotal trials (the 24-week SINUS-24 and 52-week SINUS-52), which are part of the phase III LIBERTY clinical trial program. These trials evaluated Dupixent 300 mg every two weeks with standard-of-care mometasone furoate nasal spray (MFNS) compared to placebo injection plus MFNS. Data from the trials showed that the drug significantly improved key disease measures, and met all primary and secondary endpoints. It significantly reduced nasal polyp size, and improved congestion and loss of smell, while reducing the need for surgery and systemic corticosteroids. As a result of the latest approval, Dupixent is now approved for three conditions with underlying type 2 inflammation — moderate-to-severe atopic dermatitis, moderate-to-severe asthma and CRSwNP. The uptake has been strong for both atopic dermatitis and asthma. The drug is now annualizing more than $1 billion in net product sales in the United States alone. Label expansion of the drug in additional indications should further drive sales. The company is working to expand the drug’s label further into several other indications. In addition to the currently-approved indications, Regeneron and Sanofi are also evaluating Dupixent in a broad clinical program for diseases driven by allergic and other type 2 inflammation, including pediatric asthma and atopic dermatitis (6 to 11 years of age, phase III), pediatric atopic dermatitis (6 months to 5 years of age, phase II/III), eosinophilic esophagitis (phase III), chronic obstructive pulmonary disease (phase III), and food and environmental allergies (phase II). Dupixent is also being studied in combination with REGN3500 (SAR440340), which targets IL-33. Label expansion of the drug will diversify the company’s revenue base and reduce dependence on lead drug, Eylea. Last week, Regeneron and Sanofi announced that a phase II study evaluating their investigational IL-33 antibody, REGN3500 (SAR440340), in asthma met the primary endpoint. Regeneron’s stock has lost 15.9% in the past six months, as against the industry’s growth of 2.6%. The company’s efforts to develop its pipeline and diversify the revenues base are impressive. It earlier extended the collaboration agreement with Alnylam Pharmaceuticals, Inc. ALNY to discover, develop and commercialize new RNA interference (RNAi) therapeutics for a broad range of diseases by addressing disease targets expressed in the eye and central nervous system (CNS), in addition to a select number of targets expressed in the liver. Zacks Rank & A Stock to Consider Regeneron currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same space is Gilead Sciences, Inc. GILD, which carries a Zacks Rank #2 (Buy), currently.  You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Gilead’s earnings estimates have moved up by 24 cents to $6.89 for 2019, over the past 90 days. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better. See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSanofi (SNY) : Free Stock Analysis ReportGilead Sciences, Inc. (GILD) : Free Stock Analysis ReportAlnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis ReportRegeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
With EPS Growth And More, TTM Technologies (NASDAQ:TTMI) Is Interesting Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. Unfortunately, high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. In contrast to all that, I prefer to spend time on companies likeTTM Technologies(NASDAQ:TTMI), which has not only revenues, but also profits. While profit is not necessarily a social good, it's easy to admire a business than can consistently produce it. Conversely, a loss-making company is yet to prove itself with profit, and eventually the sweet milk of external capital may run sour. See our latest analysis for TTM Technologies Over the last three years, TTM Technologies has grown earnings per share (EPS) like young bamboo after rain; fast, and from a low base. So I don't think the percent growth rate is particularly meaningful. Thus, it makes sense to focus on more recent growth rates, instead. Like a wedge-tailed eagle on the wind, TTM Technologies's EPS soared from US$1.00 to US$1.54, in just one year. That's a impressive gain of 55%. I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). TTM Technologies maintained stable EBIT margins over the last year, all while growing revenue 4.0% to US$2.8b. That's progress. In the chart below, you can see how the company has grown earnings, and revenue, over time. Click on the chart to see the exact numbers. In investing, as in life, the future matters more than the past. So why not check out thisfreeinteractive visualization of TTM Technologies'sforecastprofits? I like company leaders to have some skin in the game, so to speak, because it increases alignment of incentives between the people running the business, and its true owners. As a result, I'm encouraged by the fact that insiders own TTM Technologies shares worth a considerable sum. Given insiders own a small fortune of shares, currently valued at US$73m, they have plenty of motivation to push the business to succeed. This should keep them focused on creating long term value for shareholders. It means a lot to see insiders invested in the business, but I find myself wondering if remuneration policies are shareholder friendly. A brief analysis of the CEO compensation suggests they are. I discovered that the median total compensation for the CEOs of companies like TTM Technologies with market caps between US$400m and US$1.6b is about US$2.7m. TTM Technologies offered total compensation worth US$2.0m to its CEO in the year to December 2018. That seems pretty reasonable, especially given its below the median for similar sized companies. While the level of CEO compensation isn't a huge factor in my view of the company, modest remuneration is a positive, because it suggests that the board keeps shareholder interests in mind. I'd also argue reasonable pay levels attest to good decision making more generally. Given my belief that share price follows earnings per share you can easily imagine how I feel about TTM Technologies's strong EPS growth. If you need more convincing beyond that EPS growth rate, don't forget about the reasonable remuneration and the high insider ownership. Each to their own, but I think all this makes TTM Technologies look rather interesting indeed. Of course, just because TTM Technologies is growing does not mean it is undervalued. If you're wondering about the valuation, check outthis gauge of its price-to-earnings ratio, as compared to its industry. Of course, you can do well (sometimes) buying stocks thatare notgrowing earnings anddo nothave insiders buying shares. But as a growth investor I always like to check out companies thatdohave those features. You can accessa free list of them here. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Greece licenses Exxon, Total to explore untapped waters off Crete ATHENS, June 27 (Reuters) - Greece on Thursday awarded licences to ExxonMobil and Total to search for hydrocarbons off the island of Crete, marking the country's first major foray into an oil and gas search in the region. The companies, in consortium with Hellenic Petroleum , have an eight-year research and exploitation licence in two offshore blocks lying south and south-west of Crete. "Within two to four years we anticipate we will have a clear view of what and what kind of reserves are there," Greek Prime Minister Alexis Tsipras said in a speech at the licensing ceremony. Greece has a number of smaller concessions mainly off its western coast, but the Crete concessions represent 40,000 square kilometres of territory virtually unexplored. The country has been keen to emulate the success of countries like Israel and Cyprus in exploring for offshore reserves in the past decade, even though Cyprus's success in discovering natural gas has highlighted long-running tensions over offshore jurisdiction with Turkey. "Today's agreement marks the utilisation by Greece of its own exclusive economic zone, following in the footsteps of other countries," Tsipras said, referring to a maritime area over which countries have commercial rights. Past surveys have suggested that the little-explored region off Crete, riven by converging tectonic plates that form folds or petroleum traps, displays promising geology that now requires surveying to confirm any actual deposits. (Reporting By Michele Kambas. Editing by Jane Merriman)
Add Value to Your Investment With These 4 Low P/CF Stocks Investors always try to hit the jackpot while picking stocks. But striking the right chord each time is not easy unless you are blessed with Midas touch. When it comes to the investment market, experts consider value style as one of the most effective approaches. In value investing, investors pick stocks that are cheap but fundamentally sound. So, the chance of outperformance is high when the market moves higher. There are different valuation metrics to determine a stock’s inherent strength but a random selection of ratios cannot serve your purpose if you want a realistic assessment of a company’s financial position. For this, we recommend Price to Cash Flow (or P/CF) as one of the key metrics. This metric evaluates the market price of a stock relative to the amount of cash flow that the company is generating on a per share basis – the lower the number, the better. Price to Cash Flow Reveals Financial Health Questions may arise as to why we are considering the Price to Cash Flow valuation metric, when the most widely used metric is Price/Earnings (or P/E). Well, what makes P/CF stand out is that operating cash flow adds back non-cash charges such as depreciation and amortization to net income, truly reflecting the financial health of a company. Analysts caution that a company’s earnings are subject to accounting estimates and management manipulation. However, cash flow is reliable. It is net cash flow that reveals how much money a company is actually generating and how effectively management is putting the same to use. A positive cash flow indicates an increase in the company’s liquid assets. This gives the company the means to settle debt, shell out for its expenses, reinvest in its business, endure downturns and finally pay back its shareholders. Then again, a negative cash flow implies a decline in the company’s liquidity, which in turn lowers its flexibility to support these moves. What’s the Best Strategy? However, an investment decision solely based on the P/CF metric may not fetch the desired results. To identify stocks that are trading at a discount, you should expand your search criteria and consider price-to-book, price-to-earnings and price-to-sales ratios. Adding a favorable Zacks Rank and aValue Scoreof A or B to your search criteria should give you even better results as they eliminate the chance of falling into a value trap. Here are the parameters for selecting true value stocks: P/CF less than or equal to X-Industry Median. Price greater than or equal to 5:The stocks must all be trading at a minimum of $5 or higher. Average 20-Day Volume greater than 100,000:A substantial trading volume ensures that the stock is easily tradable. P/E using (F1) less than or equal to X-Industry Median:This parameter shortlists stocks that are trading at a discount or are equal to its peers. P/B less than or equal to X-Industry Median:A lower P/B compared with the industry average implies that there is enough room for the stock to gain. P/S less than or equal to X-Industry Median:The P/S ratio determines how a stock price compares to the company’s sales — the lower the ratio the more attractive the stock is. PEG less than 1:The ratio is used to determine a stock's value by taking the company's earnings growth into account. PEG ratio portrays a more complete picture than the P/E ratio. A value of less than 1 indicates that the stock is undervalued and that investors need to pay less for a stock that has robust earnings growth prospect. Zacks Rank less than or equal to 2:Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment. Value Score of less than or equal to B:Our research shows that stocks with a Style Score of A or B when combined with Zacks Rank #1 or 2 offer the best upside potential. Here are four of the 13 stocks that qualified the screening: Legg Mason, Inc.LM, an asset management holding company, has an expected EPS growth rate of 16.3% for 3-5 years. This Zacks Rank #1 company delivered an average positive earnings surprise of 9.5% for the trailing four quarters. You can seethe complete list of today’s Zacks #1 Rank stocks here. American International Group, Inc.AIG provides insurance products for commercial, institutional and individual customers. This Zacks Rank #1 company has an expected EPS growth rate of 11% for 3-5 years. Sanmina CorporationSANM provides integrated manufacturing solutions, components, products and repair, logistics and after-market services. This Zacks Rank #1 company has an expected EPS growth rate of 12% for 3-5 years. Ford Motor CompanyF designs, manufactures, markets and services a range of Ford cars, trucks, sport utility vehicles and electrified vehicles. It has a Zacks Rank #2 and an expected EPS growth rate of 7.3% for 3-5 years. The company delivered average four-quarter positive earnings surprises of 13.3%. Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software. The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your 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 reportFord Motor Company (F) : Free Stock Analysis ReportLegg Mason, Inc. (LM) : Free Stock Analysis ReportAmerican International Group, Inc. (AIG) : Free Stock Analysis ReportSanmina Corporation (SANM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research