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The Zacks Analyst Blog Highlights: AngloGold, SPDR Gold Trust and Vaneck Vectors Gold For Immediate Release Chicago, IL –June 27, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: AngloGold Ashanti AU, SPDR Gold Trust GLD and Vaneck Vectors Gold Miners ETF GDX. Here are highlights from Wednesday’s Analyst Blog: Is It Gold’s Time to Shine? Gold futures are trading at their highest levels in over 6 years as interest rates plummet. Gold is up roughly 12% as the US 10-year Treasury yield falls 12% in the past 30 days. The Federal Reserve is on thin ice with every syllable Jerome Powell utters being overly scrutinized. They are now taking a flexible stance with interest rate as uncertainty in trade disputes increase. The market has taken this as a sign that the only option for the Fed in the upcoming July meeting is a rate cut. The market has completely priced in a rate cut in the benchmarked, Fed Funds rate, with a more than 1/3 chance of a 50 basis point cut. There is also quite a bit of ambiguity surrounding the tensions building between the US and Iran. The geopolitical tension was started with US sanctions on Iran due to concerns over nuclear and other military stockpiles. The pressure has been escalated since then, with six US oil tankers and a US spy drown being attacked near the Strait of Hormuz. These attacks are being blamed on Iran and further verbal attacks have ensued between the US and Iranian Presidents. This geopolitical tension is concerning investors and they are flocking to gold as a safe haven to protect against the uncertainty of potential war. Not Convinced This conviction that the trade war can go nowhere but south in the next month or so is miss placed, I speculate. Still, investors are flocking to gold as a temporary inflationary safe haven for their funds. The question that investors need to be asking themselves is, what happens if the trade disputes deescalate and a rate cut does not occur? This is going to spike US 10-year Treasury yield and sink gold prices as these “safe haven investors” move their money to more profitable securities. Fast moves in commodities like this make me think the distorted buyer-to-seller ratio is causing this commodity to have a short-lived spike that will quickly retract once the buyers dry up. Gold Could Still Have Further Upside It is quite hard to say how much of this rate cut and geopolitical risk is already priced into gold and gold mining stocks. The uncertainty is clearly enough to send this commodity flying. If tensions between Iran and the US begin to escalate to a hostile level, gold will have more room to run. If the trade tariffs are escalated further and the Fed does indeed cut rates the same gold runway will likely appear. Some solid Gold stocks and ETFs to keep an eye as gold finds its equilibrium include AngloGold Ashanti which has already seen a 48.6% jump in the past month. AU also has a strong negative beta which will help hedge your portfolio in the case of an equity market downturn. Analysts have been increasing their EPS estimates propelling this stock to a Zacks Rank #1. A gold ETF like the SPDR Gold Trust will track gold more closely because it is back by physical gold bullion. This ETF hasn’t seen the same strong returns as AU but could provide a safer gold investment. Vaneck Vectors Gold Miners ETF will give you a nice diversified portfolio of gold miners, so you don’t have to worry about systemic risks with any one firm. This ETF has seen 27.3% returns over the past month. Take Away The uncertainty in the trade dispute combined with the escalating tensions between the US and Iran have caused investors to flock to the gold safety net. Gold is trading at a level it hasn’t seen in over 6 years, whether or not the gold rally will continue remains to be seen. I will add that when this level was hit back in 2010 the price rallied another 25% to its high of $1773 an ounce in mid-2012. If you believe in the gold bull market, I would look to invest in one of the options I mentioned above. Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportVanEck Vectors Gold Miners ETF (GDX): ETF Research ReportsSPDR Gold Shares (GLD): ETF Research ReportsAngloGold Ashanti Limited (AU) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Why Teledyne Technologies Incorporated (NYSE:TDY) Is A Financially Healthy Company Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider Teledyne Technologies Incorporated ( NYSE:TDY ). With a market valuation of US$9.6b, TDY is a safe haven in times of market uncertainty due to its strong balance sheet. These companies are resilient in times of low liquidity and are not as strongly impacted by interest rate hikes as companies with lots of debt. Using the most recent data for TDY, I will determine its financial status based on its solvency and liquidity, and assess whether the stock is a safe investment. Check out our latest analysis for Teledyne Technologies TDY’s Debt (And Cash Flows) Over the past year, TDY has maintained its debt levels at around US$1.0b – this includes long-term debt. At this constant level of debt, the current cash and short-term investment levels stands at US$106m to keep the business going. Additionally, TDY has produced cash from operations of US$455m in the last twelve months, resulting in an operating cash to total debt ratio of 46%, signalling that TDY’s current level of operating cash is high enough to cover debt. Can TDY meet its short-term obligations with the cash in hand? At the current liabilities level of US$724m, the company has been able to meet these obligations given the level of current assets of US$1.1b, with a current ratio of 1.54x. The current ratio is calculated by dividing current assets by current liabilities. Usually, for Aerospace & Defense companies, this is a suitable ratio since there is a bit of a cash buffer without leaving too much capital in a low-return environment. NYSE:TDY Historical Debt, June 27th 2019 Can TDY service its debt comfortably? TDY’s level of debt is appropriate relative to its total equity, at 36%. TDY is not taking on too much debt commitment, which may be constraining for future growth. We can test if TDY’s debt levels are sustainable by measuring interest payments against earnings of a company. As a rule of thumb, a company should have earnings before interest and tax (EBIT) of at least three times the size of net interest. For TDY, the ratio of 18.72x suggests that interest is amply covered. Large-cap investments like TDY are often believed to be a safe investment due to their ability to pump out ample earnings multiple times its interest payments. Story continues Next Steps: TDY has demonstrated its ability to generate sufficient levels of cash flow, while its debt hovers at an appropriate level. Furthermore, the company exhibits an ability to meet its near-term obligations, which isn't a big surprise for a large-cap. This is only a rough assessment of financial health, and I'm sure TDY has company-specific issues impacting its capital structure decisions. You should continue to research Teledyne Technologies to get a better picture of the stock by looking at: Future Outlook : What are well-informed industry analysts predicting for TDY’s future growth? Take a look at our free research report of analyst consensus for TDY’s outlook. Valuation : What is TDY worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? The intrinsic value infographic in our free research report helps visualize whether TDY is currently mispriced by the market. Other High-Performing Stocks : Are there other stocks that provide better prospects with proven track records? Explore our free 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 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.
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Is Teledyne Technologies Incorporated (NYSE:TDY) A Financially Strong Company? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! With a market capitalization of US$9.6b, Teledyne Technologies Incorporated (NYSE:TDY) is a large-cap stock, which is considered by most investors as a safe bet. Common characteristics for these big stocks are their strong balance sheet and high liquidity, which means there's plenty of stocks available to the public for trading. In times of low liquidity in the market, these firms won’t be left high and dry. They are also relatively unaffected by increases in interest rates. Using the most recent data for TDY, I will determine its financial status based on its solvency and liquidity, and assess whether the stock is a safe investment. Check out our latest analysis for Teledyne Technologies TDY's debt level has been constant at around US$1.0b over the previous year which accounts for long term debt. At this current level of debt, TDY currently has US$106m remaining in cash and short-term investments , ready to be used for running the business. On top of this, TDY has produced cash from operations of US$455m during the same period of time, resulting in an operating cash to total debt ratio of 46%, signalling that TDY’s current level of operating cash is high enough to cover debt. Looking at TDY’s US$724m in current liabilities, it seems that the business has been able to meet these obligations given the level of current assets of US$1.1b, with a current ratio of 1.54x. The current ratio is calculated by dividing current assets by current liabilities. For Aerospace & Defense companies, this ratio is within a sensible range since there is a bit of a cash buffer without leaving too much capital in a low-return environment. With debt at 36% of equity, TDY may be thought of as appropriately levered. TDY is not taking on too much debt commitment, which may be constraining for future growth. We can test if TDY’s debt levels are sustainable by measuring interest payments against earnings of a company. Preferably, earnings before interest and tax (EBIT) should be at least three times as large as net interest. In TDY's case, the ratio of 18.72x suggests that interest is comfortably covered. Large-cap investments like TDY are often believed to be a safe investment due to their ability to pump out ample earnings multiple times its interest payments. TDY’s debt level is appropriate for a company its size, and it is also able to generate sufficient cash flow coverage, meaning it has been able to put its debt in good use. In addition to this, the company exhibits proper management of current assets and upcoming liabilities. I admit this is a fairly basic analysis for TDY's financial health. Other important fundamentals need to be considered alongside. I recommend you continue to research Teledyne Technologies to get a more holistic view of the stock by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for TDY’s future growth? Take a look at ourfree research report of analyst consensusfor TDY’s outlook. 2. Valuation: What is TDY 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 TDY 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.
Fundstrat Co-Founder Thomas Lee Says Bitcoin’s Volatility Favors a Long-Term Approach Fundstrat Global Advisers Co-FounderThomas Leesuggested that bitcoin’s (BTC) volatility makes a long-term approach towards it more appropriate for most traders in a tweetpublishedon June 27. In his tweet, Lee intended to remind others that “bitcoin is a hypervolatile asset” and that this makes it “great for volatility and other dedicated traders.” Still, he noted that most should probably use a different approach instead: “For most, taking a long-term view is more appropriate.” Lee’s remarks were an answer to a Bloomberg’stweetpointing out that bitcoin is up 39% this week, but that it has lost over $1,800 of value within about 10 minutes today in acorrection. Representing the opposite view, Washington Post columnist Michelle Singletary suggested in an articlepublishedtoday that people tempted to invest in bitcoin should “keep in mind these investing bubbles that burst — tulip bulbs and Beanie Babies.” She further notes: “The current price surge for bitcoin has many people fearing they will miss out on a big opportunity to make a lot of money. But buying bitcoin is still akin to gambling.” As Cointelegraphreportedearlier today,Amazon-owned, leading gamestreamingplatformTwitchhas enabled bitcoin and bitcoin cash (BCH)paymentsagain amidcryptomarket uptrend. Also today,news brokethatBitMEX, the world’s largest cryptocurrency trading platform, saw record volumes across its operations as bitcoin hit $13,000. • Focus on Bitcoin, Not Blockchain, Crypto Entrepreneur Proclaims • Kraken Raises Over $13 Million In Its Latest Fundraising Round • Mike Novogratz’s Galaxy Digital to Launch Crypto Options Contracts Trading: Report • CME: Open Interest in Bitcoin Futures Contracts Hit All-Time High
These Powdered Cocktail Mixers Are Perfect for Lazy Bartenders Have you ever used Crystal Light as a mixer in a pinch? Well, turns out you missed out on a lucrative business opportunity. Mixallogy , a company that produces single serve powdered cocktail mixers, will be available in Walmart stores nationwide on July 1. Using the powders sounds pretty darn simple: Just empty the contents of the K-Cup-esque pod into a cocktail shaker, add equal parts water and liquor, throw in some ice, and shake. Available in three varieties—Cosmo, Margarita, and Lemon Sour—the mixers have way fewer chemicals than you might expect. “When making cocktails, we realized we weren’t holding the ingredients to the same standards as we were in our food,” the website reads. “We started looking at what was actually in our drinks, only to learn that most cocktail mixers were filled with chemicals and artificial sweeteners. There was a better way, and Mixallogy was born.” To avoid using artificial flavors and preservatives, the company uses drying technology that eliminates water from ingredients while leaving their nutrition, tastes, and colors intact. We’re not sure what the price tag will be once the product is on shelves at Walmart, but you can buy a pack of six ready-to-use pods on Amazon right now for $8.99.
Smart contract startup Clause nets $5.5M round led by Galaxy Digital Two new executives are joining smart contract technology provider Clause's board of directors after the company netted a $5.5 million Series A funding round, according to a news release. The investment could help further introduce smart contracts to enterprise, since Mike Novogratz's Galaxy Digital, a crypto merchant bank focused on bridging institutional finance and crypto, led the round. Document signing platform DocuSign, Seedcamp and Raptor Group, a Galaxy Digital EOS VC Fund backed by Block.one, also contributed to the round among other investors. Mike Dinsdale, CFO of cloud-based enterprise people management company Gusto, and Greg Wasserman, Co-Head of Principal Investments at Galaxy Digital, will join Clause as board members following the investment. Wasserman said in a statement he's confident that smart clauses will become the standard for document management. DocuSign COO Scott Olrich said his company could benefit from the type of technology Clause is pioneering, since it can simplify an agreement process.
Why DuPont (DD) Could Be Positioned for a Slump Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio. One such stock that you may want to consider dropping isDuPont de Nemours, Inc.DD, which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in DD. A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen seven estimates moving down in the past 30 days, compared with just one upward revision. This trend has caused the consensus estimate to trend lower, going from $7.19 a share a month ago to its current level of $4.04. Also, for the current quarter, DuPont has seen four downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate down to 86 cents a share from $3.20 over the past 30 days. The stock also has seen some pretty dismal trading lately, as the share price has dropped 19.7% in the past month. Dow Chemical Company (The) price-consensus-chart \| Dow Chemical Company (The) Quote So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait. If you are still interested in the Chemical – Diversified industry, you may instead consider a better-ranked stock - Compass Minerals International, Inc. CMP. The stock currently holds a Zacks Rank #2 (Buy) and may be a better selection at this time. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 reportCompass Minerals International, Inc. (CMP) : Free Stock Analysis ReportDow Chemical Company (The) (DD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Should You Be Concerned About Tactile Systems Technology, Inc.'s (NASDAQ:TCMD) Historical Volatility? 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 Tactile Systems Technology, Inc. (NASDAQ:TCMD), 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. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. The first type is company specific volatility. Investors use diversification across uncorrelated stocks to reduce this kind of price volatility across the 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. Check out our latest analysis for Tactile Systems Technology Zooming in on Tactile Systems Technology, we see it has a five year beta of 1.94. This is above 1, so historically its share price has been influenced by the broader volatility of the stock market. Based on this history, investors should be aware that Tactile Systems Technology are likely to rise strongly in times of greed, but sell off in times of fear. Many would argue that beta is useful in position sizing, but fundamental metrics such as revenue and earnings are more important overall. You can see Tactile Systems Technology's revenue and earnings in the image below. Tactile Systems Technology is a small company, but not tiny and little known. It has a market capitalisation of US$988m, which means it would be on the radar of intstitutional investors. It is quite common to see a small-cap stock with a beta greater than one. In part, that's because relatively few investors can influence the price of a smaller company, compared to a large company. Beta only tells us that the Tactile Systems Technology 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 Tactile Systems Technology’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 TCMD’s future growth? Take a look at ourfree research report of analyst consensusfor TCMD’s outlook. 2. Past Track Record: Has TCMD 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 TCMD's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how TCMD 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.
Coca-Cola, A Shipper Of Choice That Quenches Drivers' Thirsts For Efficiency The Coca-Cola Company(NYSE:KO) moves about 10,000 loads per week in the United States. Drivers picking up those shipments – whether they're beverage bases destined for bottlers or ice tea for retailers – can expect can expect free refreshments, but more importantly, short dwell times. "We want to provide quality service and hospitality to the drivers who are serving our customers and brands but at the same time ensure we are doing all possible to increase efficiency by reducing dwell times and incenting fast service with deliveries," said Rob Haddock, group director-supply chain for Coca-Cola North America. Coca-Cola was ranked in the top 25 in FreightWaves' inauguralShipper of Choice awards, conducted in partnership with Convoy. Based on voting from carrier-members ofTruckload Carriers Associationand theBlockchain in Transport Alliance(BiTA), the awards recognized companies that engaged in best practices to ensure supply chains move smoothly. A shipper ‘drivers want to serve' Coca-Cola monitors dwell time at its facilities and actively looks for ways to improve efficiencies. It also looks at the bigger picture of how trucks move through its network. "Given the lack of capacity across the shipping industry we want to be sure we are doing everything necessary to be seen as a shipper of choice – someone that drivers want to serve – while balancing that with efficiency and speed," Haddock said. Coca-Cola uses a common tracking system with its bottlers and other customers to improve load visibility. Strong relationships with bottlers allow Coca-Cola to quickly pick up a phone and address any efficiency issues as they arise. Relationships with the roughly 60 carriers Coca-Cola works with are also part of the equation. That includes annual awards recognizing its best carriers. Coca-Cola has been working with other members of the food and beverage industry through the Trading Partner Alliance to improve supply chain efficiencies, including dwell time. "As an industry, we need to figure out how to do this together," Haddock said. Image sourced from Pixabay See more from Benzinga • Jones Act Changes Could Disrupt Offshore Oil And Gas Sector • Convoy Gives Truckers A Choice: Choose One Load, Or A Pre-Planned Package • Oregon Cap-And-Trade Bill Dead And Republican Senators Still AWOL © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Supreme Court Blocks Citizenship Question. Now Trump Wants to Delay 2020 Census The Supreme Court has blocked a citizenship question from being added to the 2020 U.S. Census for now, a major blow to President Donald Trump. In a narrow ruling, the court said in thecasethe Trump administration did not give reasons to add a citizenship question to next year’s census. The administration argued that the question was necessary to enforce the Voting Rights Act. The decision is seen as a stunning win for civil rights groups and advocates opposing the addition, believing that it would lead to an inaccurate count of the nation’s population. Critics also say Trump’s camp wanted to reduce the number of people counted as minorities in democratic districts. Data from the 2020 census is used to allocate congressional seats and distributing billions of federal dollars to states and municipalities in the next decade. The justices returned the issue back to the Department of Commerce, which oversees the census, to offer further explanation. The high court’s decision comes as the Commerce Department has a Sunday deadline to start printing 2020 census materials. Meanwhile, an angry TrumptweetedThursday that he will ask lawyers to seek ways to delay the census. “Seems totally ridiculous that our government, and indeed Country, cannot ask a basic question of Citizenship in a very expensive, detailed and important Census, in this case for 2020,” Trump said. “I have asked the lawyers if they can delay the Census, no matter how long, until the United States Supreme Court is given additional information from which it can make a final and decisive decision on this very critical matter. “Can anyone really believe that as a great Country, we are not able the ask whether or not someone is a Citizen,” the president asked rhetorically. “Only in America!” Supreme Court Chief Justice John Roberts, a conservative, sided with the court’s liberal justices Ruth Bader Ginsburg, Stephen Breyer, Sonia Sotomayor, and Elana Kagan in blocking the citizenship question. Justices Clarence Thomas, Samuel Alito Jr., Neil Gorsuch, and Brett Kavanaugh dissented. Roberts wrote in his opinion that “the decision to reinstate a citizenship question cannot be adequately explained in terms of the (Justice Department’s) request for improved citizenship data to better enforce the (Voting Rights Act).” The chief justice also took aim at Commerce Secretary Wilbur Ross. Roberts said several points taken into consideration “reveal a significant mismatch” between the decision Ross made and “the rationale he provided.” The chief justice added that the commerce department intended to include a citizenship question about a week into Ross’ tenure “but it contains no hint that he was considering (voting rights) enforcement in connection with the project.” Roberts also said that the Department of Justice wasn’t interested in the citizenship data until contacted by the Commerce Department. “The materials presented before us indicate that Commerce went to great lengths to elicit the request from (the) DOJ (or any other willing agency),” he said. “And unlike a typical case in which an agency may have both stated and unstated reasons for a decision, here the VRA enforcement rationale—the sole stated reason—seems to have been contrived. “We are presented, in other words, with an explanation for agency action that is incongruent with what the record reveals about the agency’s priorities and decision-making process.” Furthermore, Roberts said the decision to add the citizenship question to the census wasn’t “substantively valid.” The American Civil Liberties Union (ACLU) said ina pair of tweetsThursday that the ruling is “a victory” for immigrants and communities of color. “The Trump administration’s attempt to politicize and manipulate this fundamental pillar of our democracy has failed. Our communities will be counted,” the organization said. “This ruling is a victory for immigrants and communities of color across America. It is a victory for democracy itself. “Everyone MUST come together to make sure that the 2020 census counts every person.” And, New York Attorney General Letitia James, whose office spearheaded the lawsuit before the high courttweetedThursday that the census will remain a tool for delivering on the “government’s promise of fairness and equity.” “Our democracy withstood this challenge, but make no mistake, many threats continue to lie ahead from the Trump Administration and we will not stop fighting,” she said. “Now more then ever, everyday people need us to stand firm in our fight for justice.” —4 times 2020 candidates clashed during theDemocratic debate —5 things to watch for onnight 2of the Democratic presidential debate —What the2020 Democratic candidates didn’t sayduring the first debate —Elizabeth Warrenholds her own as lesser-knowns break out in first debate —Julián Castrobreaks out in a debate defined by border policy and immigration —Can socialism win in 2020?Democrats aren’t embracing it
Business leaders are concerned as Johnson pulls break on HS2 Boris Johnson pledged support for many major infrastructure projects when mayor of London, including Crossrail. Photo: Dominic Lipinski/PA Wire According to major manufacturing investors, businesses are increasingly worried about Boris Johnsons potential approach to industrial strategy if given the keys to Number 10. Johnson, who is favourite to become Prime Minister, has alarmed many in manufacturing with his approach to HS2 over the course of the past few weeks. A source at a major inward investor told Yahoo Finance that Johnson has a lot to do to regain trust from UK plc," especially after he allegedly said "f*ck business," telling business "to go forth and multiply." Given his no-deal Brexit threat, our source said "it would send a terrible signal if he caved into HS2 nimbyism or gave up on the industrial strategy, which has been one of the few positives for business in recent years. Boris inconsistency on HS2 is a particular point of ire for many trying to ascertain what his industrial strategy would be in Number 10. Businesses involved in the project find themselves confused by Johnsons timidity to HS2 given his instinctive love of large infrastructure projects. A source close to Johnson said the former Foreign Secretary planned to invest in HS3 and rail links in the northern powerhouse, and also was keen to invest in metro services outside of the nations capital. That being said, sources close to Johnson state hes in favour of a full review of HS2 if he is selected as prime minister by Conservative Party members. The review would be conducted by Douglas Oakervee, who was formerly chairman of both the HS2 project and Crossrail, with a deadline of December being set for the review to be completed and a decision to have been made by. Concern regarding Johnsons position on the rail project exists within parliament too. A key supporter of the legislation was downbeat when asked about the projects future by Yahoo Finance: The mood is shifting against HS2. Department for Transport ministers have done the best they can to explain the value of the project, but its now entirely down to politics. Story continues Boris [Johnsons] team might torpedo the bill just to gain the trust and support of MPs and crucial voters in the countryside. There is a feeling that policy has gone as far as it can. Its all politics from now on. Johnson has also faced criticism over his tax policies, which the Institute for Fiscal Studies (IFS) have declared would benefit the richest most. Johnsons plan to adapt existing thresholds would see the lowest number of taxpayers within the highest rate threshold in nearly thirty years. The IFS have calculated that the policy would cost almost £9bn and benefit the four million or so taxpayers with the highest incomes - the majority sitting in the top 10% of taxpayers. According to their analysis, the IFS also predicts the average beneficiary will be up by the tune of around £2,500 a year. Johnson has also proposed changes to National Insurance Contributions (NICs), which the IFS said was probably the best thing one can do through the tax system to help low earners. They did say however, that most of the benefit would be felt by high earners, and an increase in tax credits would be the most effective way to help low earners in low income households. Addressing the criticism, an ally of Johnson pointed to his pro-business record whilst mayor of London, and said it would have been difficult to find a politician in the late 2000s who was more pro-business during the financial crisis.
Google Maps can predict how crowded your train or bus will be Public transit is vital for countless people, but no one wants to be stuck on a subway train or bus that's jam-packed. To help you figure out how busy your ride is going to be, you'll soon see predictions to that end inGoogle Maps. Google is tapping into data from previous rides to predict how packed a bus, train or subway will be. Starting today, the feature will be available in 18 towns and cities in the UK: Birmingham, Brighton, Bristol, Cambridge, Cardiff, Coventry, Crawley, Edinburgh, Glasgow, Leeds, Liverpool, London, Newcastle, Nottingham, Oxford, Reading, Sheffield and Southampton. Google plans to roll out the predictions to almost 200 cities worldwide on Android and iOS. Meanwhile,Google Mapswill also start showing live delay information for buses in places where local transit agencies don't already provide that data to Google. In a blog post, Google said the app will offer details on whether your bus will be late, how long you should expect to wait and more accurate predictions on travel times based on traffic conditions. Google Maps will also show you where the delays are, so you know what's ahead. That way, you might be able to give people a better sense when you're likely to arrive, or figure out another route that avoids gridlock.
Here's Why Over 58% of Consumers Use Cash-Back Cards What is it that makes cash-back cards popular with so many consumers? Image source: Getty Images. Although there are many types ofcredit cardsavailable, it turns out that one reigns supreme. Cash-back cards are a staple in well over half of all consumers' wallets, making them by far the most popular card option. Just how many people carry cash-back credit cards, and why do these cards have such widespread popularity? Let's find out. In oursurvey of American credit card preferences, 58.4% of respondents reported owning a cash-back card. That was almost 20% higher than the second-most popular type of credit card, retail/store-specific cards, which 39.8% of our respondents carried. Although cash-back cards and travel rewards cards are often seen as the two big rivals in the credit card world, it was no contest which was more popular. Only 16.3% of consumers carried airline-specific/travel cards. You may think that cash-back cards would be a favorite of older consumers, given their simplicity. Cash-back card usage was high among millennials, generation Xers, and baby boomers, with over 50% of all three generations owning a cash-back card. However, it was actually the two younger generations that liked these cards the most. Here's the percentage of consumers in each generation who had a cash-back card: • Millennials:57.8% • Gen Xers:62.0% • Baby boomers:52.5% So we've established that cash-back cards are a favorite among consumers. Now it's time to get into the "why" behind that preference. The biggest selling point of cash-back cards is their simplicity. They work exactly as you'd expect. Whenever you use the card, you get a percentage of the transaction added to your cash-back balance. You can redeem your cash back any time you meet the redemption minimum for your card. With quite a few cards, you don't even need to redeem your cash back manually, because you can automate your redemptions. Even though I'm a fan oftravel rewards cardstoo, I have to admit that redeeming points can be a complicated process. It's often time-consuming to decide on the best redemption option. That's an issue you'll never face with a cash-back card, so managing your credit card rewards will never cut into your free time. Many consumers are open to the idea of paying an annual fee for a credit card if the perks are worth it, but there are also those who don't want their credit card adding to their bills. In fact, we found that for 22.8% of consumers, the most significant concern when getting a new credit card was the annual fee. Cash-back cards are an excellent choice if you're looking to avoid an annual fee, because most of them don't have one. Competition among credit card companies has been great for consumers, as it has resulted in high cash-back rates. You don't need to settle for a flat 1% back anymore. Among thebest cash-back cards, it's common to find cards with rates of 3% or higher in some spending categories. Since many of these cards also don't have annual fees, you're perfectly free to mix and match multiple cash-back cards so that you can earn the most money back on various types of purchases. Sign-up bonusescan really sweeten the deal when you get a new credit card, but they're not always easy to get. Most cards have a spending minimum that you must reach to get the bonus. In some cases, you must spend several thousand dollars within three months to receive the bonus. This is particularly common with travel cards. While there are cash-back cards that have high spending minimums for their sign-up bonuses, the typical range is $500 to $1,000 of spending within three months. That's doable for most consumers, including those on a strict budget. To get the most value out of a credit card, you need to choose the type of card that's right for you. If you're looking for an easy-to-use rewards card, then a cash-back card is a smart way to go. 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.
A Comprehensive Guide to Federal Student Loan Repayment Plans Choosing the right federal student loan repayment plan can be difficult. This guide will help you make the right choice. Image credit: Getty Images. It's no secret that many college graduates struggle to repay theirstudent loans. A competitive job market, low entry-level salary, and new living expenses can make the standard 10-year federal student loan repayment plan difficult or impossible to keep up with. Fortunately, the federal government offers seven additional repayment plans to help ease the strain on new graduates' budgets. Below, I explain all eight of the federal student loan repayment plans, which types of loans are eligible for each, and why you may or may not want to consider them. Eligible loans:Direct Subsidized and Unsubsidized Loans, Federal Stafford Loans (subsidized and unsubsidized), Direct PLUS Loans, all consolidation loans. The standard repayment plan is the default repayment plan that allfederal student loan borrowersare assigned unless they contact their loan servicer and request to change their repayment plan to one of the other options listed below. All loans and all borrowers are eligible for the standard repayment plan, which requires you to pay a fixed monthly amount over 10 years, or within 10 to 30 years if you've consolidated your federal student loans. If you want to pay off your student loans quickly, this is your best option. It has the shortest repayment term, and it usually results in the lowest overall costs. But the standard repayment plan has a higher monthly payment than the other repayment plans, so it may not be feasible if your budget is tight. It's also not your best option if you intend to pursue Public Service Loan Forgiveness (PSLF). In order to qualify for PSLF, you must work for a qualifying organization providing a public service and make 120 on-time student loan payments. But if you made 120 payments on the standard repayment plan, there would be no amount left to forgive at the end. So if you intend to pursue PSLF, you're better off going with an income-driven repayment plan, which will lower your monthly payments and leave some left over after the 10 years to be forgiven. Eligible loans:Direct Subsidized and Unsubsidized Loans, Federal Stafford Loans (subsidized and unsubsidized), Direct PLUS Loans, all consolidation loans. The graduated repayment plan also has a 10-year repayment term, but it's structured a little differently. Instead of a fixed monthly payment for the life of the loan, you'll start with a lower monthly payment that will increase every two years. The idea is that you'll pay less when you're starting out in your career and more later on when your salary will most likely be higher. All federal student loans are eligible for the graduated repayment plan, and the loan term may be extended up to 30 years for consolidation loans. While you'll still pay off your full balance within 10 years, you'll pay more than you would with the standard repayment plan overall because your smaller initial payments won't reduce your principal as quickly, enabling interest to stack up faster. This plan is also not a qualifying repayment plan for PSLF, so don't choose this if you intend to pursue loan forgiveness. Eligible loans:Direct Subsidized and Unsubsidized Loans, Federal Stafford Loans (subsidized and unsubsidized), Direct PLUS Loans, all consolidation loans. The extended repayment plan stretches your loan payments out over 25 years. All federal student loans are eligible for the extended repayment plan as long as the borrower has $30,000 or more in outstanding federal student loans. You can choose a fixed or graduated payment schedule, depending on which fits better in your budget. Your monthly payments will be lower with the extended repayment plan than with either of the plans mentioned above, but you'll pay more overall. This is also not a qualifying repayment plan for PSLF. Eligible loans:Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans made to students, consolidation loans made to students. The REPAYE plan stretches your loan term to 20 years or 25 years if you took out loans for graduate school. Your monthly payments are capped at 10% of your discretionary income, which is the difference between your annual income and 150% of the poverty guideline for your state and household size. If you're married, both your income and your spouse’s are factored into the calculation, even if you file taxes separately. Your monthly payment could be greater than what you'd pay with the standard repayment plan, or it may not be. Your loan servicer will recalculate your payment amount every year to take into account your most recent income and family data. If you haven't finished paying back the loan by the end of the 20- or 25-year period, the government will forgive any remaining balance. However, it will add the forgiven amount to your taxable income for that year, which could raise your tax bill. The exception is if you qualify for PSLF. In this case, you won't owe taxes on the forgiven amount. Parents who take out student loans for their child's education cannot switch to the REPAYE plan, even if they consolidate their student loans. Eligible loans:Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans made to students, consolidation loans made to students. The pay as you earn (PAYE) plan is similar to the REPAYE plan, but there are a few key differences. First, while your monthly payments could be as much as 10% of your discretionary income, they're guaranteed to not exceed what you'd pay on the standard repayment plan. Second, if you’re married, your loan servicer will only consider your spouse's income when determining your monthly payments if you've filed joint taxes. Third, your loan term will be 20 years, and there is no option to extend it to 25 years if you have graduate student loans. The eligibility requirements for the PAYE plan are also a little stricter. Parents cannot switch to the PAYE plan, and students can’t either unless they received a federal loan on or after Oct. 1, 2007 and received a federal student loan disbursement on or after Oct. 1, 2011. You must also have a relatively high debt-to-income ratio -- that is, your federal student loan debt must be higher than your annual discretionary income or it must represent a significant portion of your annual income. Eligible loans:Direct Subsidized and Unsubsidized Loans, Federal Stafford Loans (subsidized and unsubsidized), Direct PLUS Loans made to students, consolidation loans made to students. The IBR plan also bases your monthly payments on your discretionary income. If you received a student loan on or after July 1, 2014, your payments are capped at 10% of your discretionary income, while they could be as high as 15% for federal student loans issued before this date. In either case, you'll never pay more than what you'd pay under the standard repayment plan. You must have a relatively high debt-to-income ratio to be approved, and your loan servicer will recalculate your payments every year. It will consider your spouse's income as well if you file taxes jointly. There's a 20-year repayment term for loans issued after July 1, 2014, and a 25-year repayment term for loans issued before this. If you haven't paid back the full balance by the end of this period, the government will forgive the remaining amount, though it will get added to your taxable income for the year unless you qualify for PSLF. Eligible loans:Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans made to students, consolidation loans. The Income-Contingent Repayment plan (ICR) is the only income-driven repayment plan that's available to parents with Direct PLUS Loans. However, they must consolidate their loans in order to be eligible. Under this plan, you'll pay the lesser of 20% of your discretionary income -- which in this case is considered the difference between your annual income and 100% of the poverty guideline for your state and family size -- or the amount you'd pay on a fixed repayment plan over 12 years, adjusted according to your income. Every year, your loan servicer recalculates your loan payments based on your updated income and family information, and if you're married, it will also consider your spouse's income, unless you file taxes separately. This repayment plan has a 25-year loan term, and the government will forgive any remaining balance after this time, though it will add it to your taxable income for the year, unless you qualify for PSLF. Eligible loans:Federal Stafford Loans (subsidized and unsubsidized), Federal Family Education Loan (FFEL) PLUS Loans, FFEL Consolidation Loans. This repayment plan is only available to those with federal student loans issued by the Federal Family Education (FFEL) program. The FFEL program was discontinued as of July 1, 2010, so new borrowers will have to choose from one of the seven plans listed above instead. Under this plan, you have the freedom to choose your monthly payment for the first five years, though you must pay at least the amount of interest that's accruing each month, and you must pay back your total balance within 15 years. However, if you choose a low payment for the first five years, your payments could rise significantly afterward, and you may struggle to keep up with them. To find the right federal student loan repayment plan for you, go through the above list and rule out any repayment plans that your loan isn't eligible for. Then, consider which of the remaining options lines up best with your goals. If you want to pay off your loans quickly, a shorter repayment term is best. But if you want lower monthly payments now, a longer repayment term is better. If you're trying for PSLF, be sure you choose a repayment plan that is eligible for PSLF. Talk with your student loan servicer if you're unsure which repayment plan is right for you or which would offer the lowest monthly payment. You can find your loan servicer and its contact information by logging into yourMy Federal Student Aidaccount. You can also try out the Department of Education'sRepayment Estimator Calculator. You're free to change your repayment plan at any time, and there's no charge. But before you do so, think through the implications of your decision carefully. A lower payment could give you more breathing room today, but it could cost you more over the long term. 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.
Paul Rudd Joins ‘Ghostbusters 2020’ (EXCLUSIVE) Click here to read the full article. Paul Rudd is in final negotiations to join Sony’s latest installment of “ Ghostbusters .” Sources tell Variety Rudd will play a teacher in the film. Related stories Awkwafina, Paul Rudd, Olivia Wilde Among Maui Film Festival Honorees Chris Hemsworth Reveals Why He Almost Quit 'Ghostbusters' DJ Khaled's Got Clout, Recruits Giants of Hip-Hop and R&B for 'SNL' Performance (Watch) Carrie Coon is also in talks for the not-so-secret project along with “Stranger Things” star Finn Wolfhard and “Gifted” star Mckenna Grace. Jason Reitman , whose father Ivan Reitman directed the original “ Ghostbusters ,” will step into the director’s chair. He co-wrote the screenplay with Gil Kenan and plans to shoot the film later this summer. “Ghostbusters 2020” is expected to hit theaters in summer of next year. “I’ve been wanting to work with Paul Rudd since my short film opened for ‘Wet Hot American Summer’ at Sundance. I’m thrilled he’ll be joining this new chapter in the original Ghostbusters universe,” said Jason Reitman . Sony wouldn’t comment on plot details, but insiders tell Variety the story will be an extension of the original “Ghostbusters” and focus on a single mom and her family, with Coon playing the mom and Wolfhard playing her son. It’s unknown how exactly it connects to the original Ghostbusters series. Sigourney Weaver is also rumored to return as Dana Barrett. The “Ghostbusters” sequel will produced by Ivan Reitman. The sci-fi comedy been a huge priority for the studio, where it’s been secretly developed using the codename “Rust City.” When Reitman was announced as director in January, a teaser trailer and release date were ready the next day. Rudd, who’s repped by UTA and Lighthouse Management and Media, is coming off a Marvel-ous stretch with “Avengers: Endgame.” He is also on board to star in the Netflix series “Living With Yourself,” which bows this fall. RELATED VIDEO: Sign up for Variety’s Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Could The Pareteum Corporation (NASDAQ:TEUM) Ownership Structure Tell Us Something Useful? 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 Pareteum Corporation (NASDAQ:TEUM) have power over the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Companies that used to be publicly owned tend to have lower insider ownership. Pareteum is not a large company by global standards. It has a market capitalization of US$223m, which means it wouldn't have the attention of many institutional investors. In the chart below below, we can see that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about TEUM. See our latest analysis for Pareteum Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. Pareteum already has institutions on the share registry. Indeed, they own 36% of the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Pareteum's historic earnings and revenue, below, but keep in mind there's always more to the story. We note that hedge funds don't have a meaningful investment in Pareteum. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. The definition of company insiders can be subjective, and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Shareholders would probably be interested to learn that insiders own shares in Pareteum Corporation. As individuals, the insiders collectively own US$9.9m worth of the US$223m company. It is good to see some investment by insiders, but it might be worth checkingif those insiders have been buying. The general public, who are mostly retail investors, collectively hold 59% of Pareteum shares. This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio. It's always worth thinking about the different groups who own shares in a company. But to understand Pareteum better, we need to consider many other factors. Many find it usefulto take an in depth look at how a company has performed in the past. You can accessthisdetailed graphof past earnings, revenue and cash flow. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can checkthis free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
'Why am I saying 'Who's ready?' three times?': An oral history of SpongeBob SquarePants For two decades, he’s lived in a pineapple under the sea, absorbent and yellow and porous, whose nautical nonsense we’ll always wish for more of. Created by Stephen Hillenburg, who died last November after battling ALS, SpongeBob SquarePants launched on Nickelodeon in 1999 as a surreal fever-dream cartoon that appealed to adult fans of comedy as much as the kids who grew up singing the theme song. In the years since, it’s become a worldwide phenomenon, having spawned a Broadway musical , multiple movies, and some of the internet’s very best memes. (Who among us can look at a jar of mayonnaise without wondering if it’s an instrument?) On a sunny June afternoon at Nickelodeon’s studios in Burbank — where the original SpongeBob cast was working on the partially live-action special SpongeBob’s Big Birthday Blowout (July 12 at 7 p.m.) — EW sat down with the gang to discuss the series’ origins, development, and legacy. Are ya ready, kids? The Beginning CBS TOM KENNY (SpongeBob): I’d worked with [Stephen Hillenburg] on Rocko’s Modern Life [as the voice of Heffer and other characters]. So this was the easiest job I ever got: There was no audition, there was no callback, there was no “It’s down to you and two other guys.” Though I did hear that there was a push to have Fred Savage play SpongeBob. CAROLYN LAWRENCE (Sandy): I remember during the audition, it was in a conference room, which was awkward to me. [They] left the microphone on the table — we weren’t in a booth. [It was] awkward and weird. I had never done that. There’s the mic and there’s Steve. And there was a fly flying around. I’m watching the fly, trying to do it, and it landed on the paper I had. And I [slams on the table] killed it. I never kill anything! I always catch things and put them outside, and I totally panicked. KENNY: Did you suck in that dead fly’s life force and channel it into your audition? CAROLYN LAWRENCE: Oh my God, I don’t know. But when I left, I was like, “There’s no way.” Story continues MR. LAWRENCE (Plankton): But that’s Sandy! That’s a Sandy moment. KENNY: The last day of that fly’s life was the first day of the rest of your life. CAROLYN LAWRENCE: It’s true! MR. LAWRENCE (Plankton): I was also friends with Steve from Rocko ; we were directors on that show together. When he was working on the SpongeBob pilot, I came in and he said, “You’re going to be somebody on the show.” I actually read for SpongeBob with Plankton’s voice. I was like [does Plankton’s voice], “I’m ready! I’m ready, Gary!” But I read all the pages like that. All I know is they kept listening to the tape while they were making the pilot. I felt like I was in the room because they’d always say they played it; when the network had just come in, or when they were down in the dumps for some reason, they’d play the tape and listen to this stupid thing. It sounded so stupid. It did not work at all. VINCENT WALLER (co-executive producer): Steve mentioned on more than one occasion about Doug auditioning for SpongeBob with Plankton’s voice. He definitely loved that. RODGER BUMPASS (Squidward): I just looked at [the script] and said, “[Squidward] has got this big ol’ honking nose, he must have some nasality quality to him. He’s a little sarcastic. It was a match made in heaven with my personality. KENNY: I felt like I just got [SpongeBob]. Steve did such a good job with it. Everything was right there. You go, “Oh, I know this guy. I can embody this guy.” I feel like there��s some shared DNA between me and this character. We’ve all felt that way. That’s part of Steve’s brilliance. He seemed to be pretty sure of his decisions once he made them, and couldn’t be dissuaded. BILL FAGERBAKKE (Patrick): Recording [the pilot], I thought it was a dopey preschool kids’ show. I didn’t get it. I didn’t get most of the jokes. “Why am I saying ‘Who’s ready?’ three times? Okay, it’s for 4-year-olds.” Then when I finally saw it, my head blew up. It was so delightful. BUMPASS: I played the pilot for my family. I looked back 11 minutes into the thing, and my father was asleep. FAGERBAKKE: Along with thinking it was for 4-year-olds, we were recording with helium for the sound of the anchovies. I thought, “This is the weirdest $600 I ever made.” Character Development Everett Collection CLANCY BROWN (Mr. Krabs): The first time I read [for Mr. Krabs] for Steve, he told me to riff. I was just doing some pirate voice. I said, “Steve, you’re the director, right?” He said, “Yeah.” “Then direct me.” BUMPASS: I remember one of our first episodes, I heard [Tom changing his voice as] SpongeBob. All of a sudden we had the latitude to do other voices — the “Krusty Krab Pizza” thing. I’m sitting there, and I didn’t know anything about the show, like, “What’s he doing? He’s totally out of character!” I didn’t realize [SpongeBob] had that latitude to be anything he wanted to be. KENNY: It’s hard to riff when you don’t know the character yet, or it’s your first brush with the character. But now, Clancy riffs as Krabs all the time. CAROLYN LAWRENCE: I was always terrified [of improvising]. It took me a while to get comfortable because I felt like [you guys] were all so much more established. I was amazed. BUMPASS: When we first started I was very monotone. Then we had this scene [in season 3’s “Mermaid Man and Barnacle Boy IV”] with the utility belt and it zapped me, and I had to do a sequence of screams. Each scream had to be a different type of a scream. There, they learned I could scream, so now, every episode they make me scream. [Laughs] But that’s how it expanded. Now [Squidward] is more me than anything else. CAROLYN LAWRENCE: I can’t remember the first time that Sandy got angry. But I know there’s something about her being mad that became a thing. WALLER: It was when they were messing with Texas! CAROLYN LAWRENCE: Right! That’s where my personal life and Sandy [merged] also. When I was younger and I’d get really angry, people would laugh, and I’d be like, “I’m mad!” It’s the same with Sandy. MR. LAWRENCE: We still try to [record together] as much as we can. What’s great to see every so often is when we roll down the road and there’s a lot of jokes happening because we’re laughing at something we’re saying, and it suggests something. Sometimes something comes out of that, and sometimes it doesn’t, but it makes the whole process fun to go through. It’s jazz riffing. I like watching it and I like doing it. WALLER: That’s where some beautiful invention comes from that’s not in the script. KENNY: And a conviviality. It feels like a workplace. It’s funny. I used to watch The Dick Van Dyke Show when I was a kid, and I’d go, “Wow, that’s what I want to do. I want the kind of job where you’re just hanging around with funny people.” This is as close to that. CAROLYN LAWRENCE: But we were unique. A lot of shows don’t record like that. BROWN: I love stuff [like “My leg!”] that comes out of left field. MR. LAWRENCE: It was one of those ad-libs where we’re trying to get the last word, going back and forth. I know Roger does it all the time. We all do it because it’s so stupid. KENNY: The voice-director just needs people to go “Agh! Oop! Blargh!” Like, “We’re still alive under this rubble, kids.” It was kind of like that. “Give me my legs!” MR. LAWRENCE: It just came down to a silence, and I just let it go a little bit longer, and popped out, “My leg!” We all laughed and started doing it more. It became a joke for us to do it. Nobody’s writing “My leg!” in there! KENNY: It was never intended to be a meme. Creative Control Nickelodeon WALLER: [I was there] from season 1 to season 2, then I went away for 3, and then came back on 4, after the movie. I was on Ren & Stimpy previous…. This was the first time collaborating with someone in the same room over one piece, rather than doing one thing and having someone come in and tear you a new one and rewrite it. But it was all fun. KENNY: So you would say it was a more collaborative process than on other shows you’d worked on? WALLER: Yes, much more collaborative. From beginning to end, rather than when you’re done, everybody comes in and collaborates. MARC CECCARELLI (co-executive producer): The idea of writing in a storyboard phase had fallen out of favor in television animation. The reason they brought it back for [Ren & Stimpy ], and the reason it’s so appealing for SpongeBob , is because it’s a much more visual way of writing the story. It’s one thing to write a visual gag in text. KENNY: One picture is worth a thousand words, right? “His tongue unrolls like a staircase. His eyes bug out and hit the wall.” BUMPASS: It’s one of the things that makes this show special because it deals with animation and cartoon-ism the way it used to be. Unlike, say, King of the Hill , which should’ve been a live-action show. MR. LAWRENCE: We often will base a whole show on just some visual we really want to see; something we start drawing, like, “I’ve got to see that.” It doesn’t happen every time, but sometimes a whole episode will form out of a visual where we go, “That’s gotta happen.” CAROLYN LAWRENCE: As an actor, it’s a lot more fun being able to get the board. I mean, that’s huge. BUMPASS: [This is] the first show I was ever involved with where they gave us the storyboards in advance. It helps you so much to see what that gag is. CAROLYN LAWRENCE: Right! You know, and it’s amazing. You can see Sandy’s jumping off an enormous mountain instead of a little mountain. You can’t see that in a written script. KENNY: Steve built a great foundation for this house. I think about that all the time, how much he knew what it was going to be. He was also really good at digging in his heels, usually in a very gentle, friendly way, and picking his battles and fighting bad ideas from non-creative people. He was good at that. BROWN: Different milieu, though, right? Nickelodeon was its own thing back then. KENNY: I guess everything was a different milieu back then. I always say with Rocko , the inmates were running the asylum to a pretty crazy degree. As long as they delivered the product and there weren’t any big content problems, you kind of are just left alone to make your quilt. CAROLYN LAWRENCE: Lot of creative freedom. And now… KENNY: It’s a little less so now. It’s a double-edged sword: If something gets gigantic, there is a lot more at stake. A lot more eyeballs. That’s what I give [the writers] a lot of credit for, still having that subversive [quality]. SpongeBob still feels like a subversive show, even though it’s kind of the most mainstream show of all. CECCARELLI: We’ve been grandfathered in and protected by the fact that the show was so good and successful from the beginning. They don’t really mess with us so much, content-wise, even to this day. BROWN: I also think it’s because nobody really knows how to f— with it. Guest-Star Parade Nickelodeon BROWN: The stunt-casting sessions are always strange. You never know when somebody comes in what they’re going to be like. We’ve got our thing, but then you add somebody in who’s a stunt. CAROLYN LAWRENCE: Early on, didn’t it make Steve crazy? Everyone called him wanting to be on his show and he didn’t want them. BUMPASS: Bruce Willis wanted to be on. FAGERBAKKE: We’re not accustomed to it. It’s not like in every episode there’s a wacky guest. KENNY: [Speaking] as the voice director, it’s interesting too, because it’s a little bit like celebrity roulette. “Wheel of Celebrities!” You had to give them almost a tutorial. Many of them have seen SpongeBob , but even if they have, you have to go, “Whatever you think you’re going to do, go bigger.” It’s a heightened reality. You probably won’t be too big. And if you are, we’ll tell you. But you probably won’t. BROWN: Did you ever have to tell someone to pull back? KENNY: No. BROWN: Dennis Quaid came in pretty hot. KENNY: That’s true. CAROLYN LAWRENCE: I like when Ernest Borgnine [Mermaid Man] was in and he just kept going and going. We all just hung out and waited until he was done. KENNY: Same with Tim Conway [Barnacle Boy]. It was the first thing they’d done together since McHale’s Navy , so that was fun to watch. MR. LAWRENCE: It was arresting. For me, it was like if someone squeezed in your stomach. You’re seeing these two guys in that room. Just like, wow. FAGERBAKKE: Jon Hamm was awesome. He clearly was enjoying himself. KENNY: He actually stayed after he was done recording. We were like, “Okay, that’s it, Jon.” He goes, “You mind if I stay?” MR. LAWRENCE: I remember Scarlett Johansson coming into the first movie we did [released in 2004]. She was so excited. We all got into the booth, and we were all there at the same time. She had her headphones on, ready to do her line, but as soon as we started talking…she looked like she was watching a pinball machine. She got to her line and she said, “I don’t know if I can do that.” You could see she was scared. Just the intimidation of watching us all do it at once, up front. And then: She was great! Pushing the Boundaries Nickelodeon CAROLYN LAWRENCE: I think my new favorite [installment] is going to be [ SpongeBob’s Big Birthday Blowout ]. It was so much fun for us to do something so wild. MR. LAWRENCE: We keep surprising. We’re trying to keep a surprise going with things. And…it’s going to be hard to surprise people after this one. KENNY: It’s like being married for a long time. You’re like, “We’ve gotta spice things up! Here, put this on! Dress like me!” MR. LAWRENCE: Like we just did an episode about “My leg!” recently. The idea was “How much can we abuse the audience in repeating a line over and over again?” [Laughs] There was something to creating a new structure to that, so it would hold that joke for 11 minutes. CECCARELLI: Personally I like the two stop-motion specials we did. Back when I was 10 years old, I wanted to be Ray Harryhausen. That was my entry point into this fantasy world. FAGERBAKKE: And that’s probably the only chance you’ll ever get to do stop-motion animation. It doesn’t happen very often. KENNY: I love those episodes, too, because it’s kind of imperfect. It’s skittery. Like the 1933 King Kong versus some CGI, “Oh, okay, there’s Jack Black standing in front of a green screen.” There’s an imperfection to that the 2D version of SpongeBob has too. You can see people’s thumbprints. In the stop-motion and the 2D version of it, it’s imperfect. I went to Pixar once, and they had this giant bank of computers. I was just like, “That’s to make sure [for] this character, every hair flows like real hair.” I like imperfection. I like records with bad notes, where the drummer misses a beat. Spongebob has still got that. FAGERBAKKE: The discovery of the show, the nature of the show, I had no idea [when I first was cast], and I was very surprised until I saw it. KENNY: SpongeBob is one of the last remaining super-visual cartoons. There’s just not a whole lot of shows like that anymore. In some ways, I feel like I’m working in this time-machine job. Like working on a radio show or Looney Tunes . It’s pretty cool that we’re still able to be employed as milkmen in 2019. Related content: David Hasselhoff joins the SpongeBob SquarePants 20th anniversary special Here’s why Spongebob Squarepants had a brief appearance in the Super Bowl halftime show Sponge Bob Square Pants creator Stephen Hillenburg’s ashes scattered at sea SpongeBob SquarePants renewed through 2019
How cereal king General Mills plans to reinvent Blue Buffalo pet food Attention puppies and kitties: cereal king General Mills (GIS) is full steam ahead in trying to bring a fresh round of innovation to its splashy $8 billion acquisition, natural pet food brand Blue Buffalo. That may go a long way in answering the questions some on Wall Street have on how to innovate when it comes to pet food. Because as with food brands, innovation in pet products is also key in driving new and repeat business. General Mills CEO Jeff Harmeningtells Yahoo Finance there is a “big opportunity” around new natural products in pet treats and wet food areas. Harmening also believes there are ways to innovate within different distribution channels, too. For instance, the company is in the process of rolling out a new natural pet foods brand dubbed Carnivora at specialty pet food stores. “One thing we love about Blue Buffalo is that pet parents really love their pets and they really care about brands,” Harmening says. And that love for pets has shown up in General Mills’ financial results for Blue Buffalo, a headline making deal (that not many on Wall Street expected), which closed in April 2018. For the fiscal fourth quarter ended May 26, General Mills saw Blue Buffalo’s sales surge 38% as it gained more distribution in mass market retailers such as Walmart. Operating profits for the division surged 82%. On the fiscal year, sales and adjusted operating profits each rose 11%. The business made up about 8.5% of General Mill’s full fiscal year sales. Blue Buffalo is also outperforming the broader pet food market. American’s spent nearly $33 billion on pet food and treats in 2018, up 5% from the prior year, according to Nielsen data. The solid demand for pet food — see Blue Buffalo’s numbers — is one reason why Wall Street embraced the IPO of online retailer Chewy (CHWY) this month. “Blue Buffalo is a clear driver of growth — they are just scratching the surface in retail,” veteran Guggenheim Partners analyst Laurent Grandet tells Yahoo Finance. Grandet believes General Mills has a long runway to expand the brand in the U.S. Over time, Grandet says, it’s logical that the Blue Buffalo brand finally arrives overseas. Brian Sozzi is an editor-at-large and co-host of ‘The First Trade’ at Yahoo Finance. Follow Brian Sozzi him on Twitter@BrianSozzi Read the latest financial and business news from Yahoo Finance • Why Shake Shack CEO is testing a 4-day workweek • Trump's trade war with China may shock investors this summer • 2 black swans could come out of nowhere and kill stocks this summer • Why scrapping Trump's corporate tax cuts could crush businesses Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
How to Watch Tonight's Democratic Debate Online for Free—Without a Cable Subscription The first batch of Democratic presidential candidates had their say last night. Now it’s time for the others to make their appeal to voters. The first officialDemocratic presidential primary debates are officially underway—and some are already making an impression. On Tuesday, candidatesclashed over issuesranging from private health insurance to the war in Afghanistan. Three candidates—Former Rep.Beto O’Rourke(D-Texas), Sen.Cory Booker(D-N.J.), and Former HUD SecretaryJulián Castro(D-Texas)—spontaneously broke into Spanish when answering questions. AndElizabeth Warrenheld her own, whileJulián Castrobroke away from the pack. Tonight,four of the 10 leading Democratic candidatesin the polls will face off in Miami. And all eyes will be on former Vice PresidentJoe Bidenand Sen.Bernie Sanders. (There are so many Democrats running for President right now that the debates are being held over two nights, each featuring 10 candidates.) Others on stage Thursday night will include Sen.Kamala Harris, MayorPete Buttigieg, and Sen.Kirsten Gillibrand. Got questions about the debate? We’ve got answers. The debate begins at 9 p.m. ET (6 p.m. PT) and goes until 11 p.m. ET. NBC is hosting this round of the debates, meaning you can tune into NBC, MSNBC, and Telemundo on your cable or satellite system. There are a number of online options to watch the debate, some of which require a subscription (or you’ll need to sign up for a free trial). Free options include:NBCNews.com, MSNBC.com, and the NBC News app, which will all simulcast the debate. Telemundo’s digital platforms will as well. Other options include: • Sling TV:You’ve got a seven-day free preview before the monthly fees, which range from $25 to $40, kick in. • PlayStation Vue:The free trial is 14 days long. Subscription packages start at $45 per month. • Hulu with Live TV:You can try the service free for a week. After that, you’ll pay $45 per month. • YouTube TV:After a seven-day trial, you can expect monthly charges of $40. • Former Vice PresidentJoe Biden(D-Del.) • Sen.Bernie Sanders(D-Vt.) • Sen.Kamala Harris(D-Calif.) • MayorPete Buttigieg(D-Ind.) • Sen.Kirsten Gillibrand(D-N.Y.) • Sen.Michael Bennet(D-Colo.) • Former Gov.John Hickenlooper(D-Colo.) • Rep.Eric Swalwell(D-Calif.) • EntrepreneurAndrew Yang(D-N.Y.) • Self-help authorMarianne Williamson(D-Calif.) NBC is sending its heavyweights: • NBC Nightly Newsanchor Lester Holt • Todaycoanchor Savannah Guthrie • Meet the Presshost Chuck Todd • MSNBC’s Rachel Maddow • Noticias Telemundoanchor José Diaz-Balart. NBC News posted the full live stream of Democratic debate Night 1 on its YouTube channel. Watch here: The Democratic candidates will assemble once again on July 29 and July 30—but must meet anew set of qualifications. Overall, there will be 12 Democratic primary debates before the election, with six scheduled for this year. —4 times 2020 candidates clashed during theDemocratic debate —5 things to watch for onnight 2of the Democratic presidential debate —What the2020 Democratic candidates didn’t sayduring the first debate —Can socialism win in 2020?Democrats aren’t embracing it —Meet Andrew Yang,the candidate who wants to give you $1,000 each month
AP FACT CHECK: Dems' missteps on climate, wages in debate WASHINGTON (AP) This was no Trump rally. Ten Democrats kicked off the presidential debate season with a sober rendering of policy that featured a smattering of missteps on climate change, the economy and more but no whoppers. The Democrats spoke largely in generalities Wednesday night and when they got into the nuts and bolts, their claims largely checked out. But not always. A look at the rhetoric from the first debate, with 10 more Democrats taking the stage in Miami on Thursday: CLIMATE CHANGE JAY INSLEE, Washington's governor: "We are the first generation to feel the sting of climate change and we are the last that can do something about it. ... It is our last chance in an administration, next one, to do something about it." THE FACTS: Not quite. This answer implies that after 2025 or 2029, when whoever is elected in 2020 leaves office, it will be too late to fight or limit climate change. That's a common misconception that stemmed from a U.N. scientific report that came out last fall, which talked about 2030, mostly because that's a key date in the Paris climate agreement. The report states that with every half a degree Celsius and with every year, global warming and its dangers get worse. However, it does not say at some point it is too late. "The hotter it gets the worse it gets but there is no cliff edge," James Skea, co-chairman of the report and professor of sustainable energy at Imperial College London, told The Associated Press. The report co-author, Swiss climate scientist Sonia I. Seneviratne this month tweeted, "Many scientists point - rightfully - to the fact that we cannot state with certainty that climate would suddenly go berserk in 12 years if we weren't doing any climate mitigation. But who can state with certainty that we would be safe beyond that stage or even before that?" ___ BETO O'ROURKE, referring to the international climate goal: "If all of us does all that we can, then we're going to be able to keep this planet from warming another 2 degrees Celsius and ensure that we match what this country can do and live up to our promise and our potential." Story continues THE FACTS: O'Rourke gets the climate goal wrong. Since 2009, international summits and the Paris climate agreement list the overarching goal as limiting climate change to no more than 2 degrees Celsius (3.6 degrees Fahrenheit) from pre-industrial times. That's somewhere between 1850 and 1880, depending on who is calculating. There's a big difference because since pre-industrial times, Earth has already warmed 1 degree Celsius (1.8 degrees Fahrenheit). So the world community is talking about 1 degree Celsius from now and O'Rourke is talking about twice that. ___ EQUAL PAY JULIAN CASTRO, former federal housing secretary: "I would do several things, starting with something we should have done a long time ago, which is to pass the Equal Rights Amendment, finally, in this country. And, also, pursue legislation so that women are paid equal pay for equal work in this country." THE FACTS: It would be past time if it hadn't already happened. It has been illegal to pay men more than women for the same work, or vice versa, since the passage of the Equal Pay Act in 1963. Disparities, however, persist despite the law. ___ TIM RYAN, U.S. representative from Ohio: "The bottom 60% haven't seen a raise since 1980. The top 1% control 90% of the wealth." THE FACTS: Those figures exaggerate the state of income and wealth inequality. While few studies single out the bottom 60%, the Congressional Budget Office calculates that the bottom 80% of Americans have seen their incomes rise 32% since 1979. That is certainly lower than the doubling of income enjoyed by the top one-fifth of income earners. And the richest 1% possess 32% of the nation's wealth, according to data from the Federal Reserve , not 90%. ___ O'ROURKE: "That's how you explain an economy that is rigged to corporations and the very wealthiest. A $2 trillion tax cut that favored corporations while they were sitting on record piles of cash and the very wealthiest in this country at a time of historic wealth inequality." THE FACTS: The tax cut wasn't quite that big: The Joint Committee on Taxation estimates that it will reduce tax revenues by $1.5 trillion over the next decade. And individuals, not corporations, will actually receive the bulk of those cuts they're getting $1.1 trillion while businesses get $654 billion, offset by higher tax revenues from changes to international tax law. The tax cuts did mostly favor richer Americans: The top one-fifth of income earners got 65% of the benefit from the tax cuts, with just 1% going to the poorest one-fifth, according to the nonpartisan Tax Policy Center. ___ Associated Press writers Hope Yen, Eric Tucker and Amanda Seitz contributed to this report. ___ Find AP Fact Check http://apne.ws/2kbx8bd Follow @APFactCheck on Twitter: https://twitter.com/APFactCheck
WWE Goes Back To The 'Attitude Era' To Try And Freshen Up Sagging TV Ratings World Wrestling Entertainment, Inc.(NYSE:WWE) is looking to the past in an attempt to jumpstart its slumping TV ratings and attendance. WWEhas announcedPaul Heyman will take over as executive director for “Monday Night Raw” and Eric Bischoff will take over the same position for “SmackDown Live.” Both hires will report directly to WWE CEO Vince McMahon. What To Know After an extended TV contact withComcast Corporation(NASDAQ:CMCSA) to air both “Raw” and “SmackDown” on the USA Network, “SmackDown” will be making the jump toFox Corp(NASDAQ:FOX) this fall. WWE appears to be playing into the idea of competition between the two brands, bringing back two popular names from the so-called “Attitude Era” of professional wrestling. Why It's Important Heyman was president of ECW from 1993 to 2001 and has also served on the WWE creative team in the past. Bischoff is the former president of WCW, which beat WWE in the weekly ratings for extended periods from 1996 to 1999. WWE is also feeling the heat to boost TV ratings to justify its massive new contracts with Comcast and Fox. TheJune 24 episodeof “Raw” drew just 2.275 million viewers, down from an average of 2.82 million in 2018 and 3.01 million in 2017. While WWE has had success in building its streaming WWE Network service, its most recent pay-per-view event “Stomping Grounds” drew under 10,000 buys, a newrecord lowfor the company. The “Attitude Era” spanned from around 1996 to 2001 and was marked by more adult-themed content, including sexual themes and violence. That period also generated WWE's highestTV ratingsin history, with “Raw” routinely drawing more than 5 million weekly viewers during the peak of the “Attitude Era.” At the time, WWE was a privately held company. In 2008, WWE announced it would be dialing back all of its content to the level of a PG rating in an attempt to make its programming more family friendly. What’s Next WWE fans and investors will be watching to see what, if anything, changes about the content of the company’s weekly shows under Heyman and Bischoff’s leadership. Investors will also be watching the TV ratings closely to see if a return to the “Attitude Era” can appeal to a broader audience. WWE shares traded higher by 0.8% to $71.76 on Thursday. The stock peaked near $100 per share earlier this year. Related Links: Big WWE Option Trader Betting Against A Rebound Turner Sports Is Getting Back Into The Wrestling Ring Photo credit: InFlamester20, from Wikimedia Commons See more from Benzinga • Big WWE Option Trader Betting Against A Rebound • Turner Sports Is Getting Back Into The Wrestling Ring © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Eufy RoboVac 11s robot vacuum is on sale for just $149 at Amazon TL;DR:The top-ratedEufy RoboVac 11s robot vacuumis down to just just $149 at Amazon. We're only a few weeks out fromPrime Day 2019, but it seems Amazon wants to give us a little taste of what's to come. It's obvious that gadgets of every shape and size will be the hottest sellers for that day, but who knew that they were ready to slash the price onone of our favorite robot vacuums? The latest deal on theslim Eufy RoboVacshows that Amazon ain't messing around this year. Purchase the super popularEufy RoboVac 11s robot vacuum at Amazon for only $149. You get a discount of $80.99 on this beloved robot vacuum, which might be due to a new model called theRoboVac 11s Maxset to release on July 3. But the current 11s model gives you all of the essentials and much more, all at its lowest price yet on Amazon.Read more... More aboutRobot Vacuums,Mashable Shopping,Shopping Solo,Eufy Robovac, andTech
Amazon Shoppers Went Crazy Over This Apple Cider Vinegar Shampoo—And Bought 17,000 Bottles on Prime Day Apple cider vinegar shampoo can do it all from relieving itchy scalps to restoring thinning, damaged hair. While apple cider vinegar has long been a pantry staple and cleaning power player , more recently it’s become a trendy beauty and hair care ingredient used to treat acne, eczema, and dry, flaky skin. Case in point—this now insanely popular shampoo and conditioner set that’s blowing up on Amazon. Wow Skin Science’s apple cider vinegar shampoo has reached the top of Amazon��s best-sellers chart in its enormous beauty and hair care departments , and is now driving an impressive $1.4 million sales per month, the brand told RealSimple.com. What’s more, over 17,000 bottles were sold during Amazon’s 48-hour Prime Day shopping event this year. The under-$20 cleanser is designed to treat hair loss, frizz, dandruff, damage from coloring, oily scalps, and product buildup. Amazon shoppers also love its volumizing formula and subtle scent. To buy: $19; amazon.com . Since apple cider vinegar is naturally antifungal and antibacterial, it’s a great way to treat a dry scalp and dandruff while removing residue from other hair products. In fact, apple cider vinegar can be used on its own to add shine and volume to your hair , though this shampoo’s added almond and argan oil will help your hair feel even softer and look shinier. The hypoallergenic cleanser is designed to be used about twice a week, so one bottle will last you a while, and it can be used by all hair types. In fact, Amazon shoppers with all kinds of hair—curly and straight, as well as those with dry and oily scalps—all rave about the sulfate- and paraben-free shampoo. “At first I was very hesitant to spend $20 on a bottle of shampoo , but I had tried everything else I could think of and my scalp was still flaking, itching, and my hair would get oily very quickly,” one reviewer shared. “I use this shampoo three times a week, and the results have been great. It has brought my curls back to life, and I will definitely be buying another bottle once this one runs out.” Story continues “This is by far the best shampoo I've ever used,” another chimed in. “I noticed immediately after the first use of this shampoo, no itching, flaking, or irritation. That, in itself, won me over. It also has the best subtle smelling fragrance.” Those with limp strands have also seen a difference after using the cleanser. “I love this shampoo,” another reviewer wrote. “It doesn't weigh my fine hair down. And I have super sensitive skin and this doesn't irritate it. All of the eczema on my neck and scalp cleared up. I am so glad I bought this!” The brand also makes an apple cider vinegar foaming face wash and facial toner to round out your skincare routine, further proving the ingredient’s versatility. Better stock your pantry while you’re at it—we have a feeling you’ll be reaching for it on the reg.
Indian government clarifies still planning to sell Air India By Aditi Shah and Aftab Ahmed NEW DELHI (Reuters) - India clarified on Thursday that plans to sell debt-laden state-run carrier Air India were still on track, hours after a junior minister told parliament the privatisation was on hold because of high oil prices and volatile exchange rates. India failed last year in its attempt to sell a 76% stake in loss-making Air India due to a lack of interest from bidders, but said it would return with an alternative proposal soon. The government injected 39.75 billion rupees ($576 million)into the airline in the fiscal year that ended March 31 and hived off some debt and the Ministry of Civil Aviation said on Thursday that the carrier was ready for sale. "Continued support from the government (has) resulted in improvement of (the) financial & operational performance of Air India... the government will now go ahead with the process of disinvestment of the company," the ministry said in a statement. It issued the statement to correct comments earlier in the day by the country's junior civil aviation minister, who told parliament conditions were still not right to attempt another sale. "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, adding that the government would revisit the sale once global economic conditions become more favourable. A spokesman for the Ministry of Civil Aviation said the confusion stemmed from Puri referring to a report from last year and stressed the sale plan was still on. 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. Potential bidders for Air India last year suggested they found some of the stake sale terms too onerous, making it a non-starter. The government said high oil prices, a weaker rupee and rising interest rates hurt the sale's prospects. Prime Minister Narendra Modi's government has since hived off a part of the airline's debt, about 300 billion rupees, 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. Air India is expected to report a loss of more than 76 billion rupees for the year that ended in March 2019, Puri told parliament. ($1 = 69.0962 Indian rupees) (Reporting by Aditi Shah; Additional reporting by Alexandra Ulmer in Mumbai; Editing by Martin Howell and Susan Fenton)
Alto Commences Sonic Drilling at Destiny Vancouver, British Columbia--(Newsfile Corp. - June 27, 2019) - Alto Ventures Ltd. (TSXV:ATV) is pleased to announce the commencement of a 10 sonic drill hole orientation study on its Destiny project in Quebec. The study is in part a follow-up to the compilation work completed by Alto this past winter (see Alto news release dated February 27, 2019) and tests a number of analytical methods to determine if gold mineralization can be discovered using glacial dispersion overburden sampling techniques. The sonic holes will test the glacial dispersion from the currently known mineralized zones and several of the new targets identified from the extensive compilation of data completed earlier this year. In addition to the overburden sampling, each of the holes will be drilled into bedrock, from 1.5 to 3.0 m below the overburden, to determine the bedrock geology. Destiny Gold Project, Quebec The Destiny project hosts the DAC Gold Deposit, one of several mineralized zones along a six km segment of the Despinassy shear which splays from the regionally extensive Chicobi Fault in the Abitibi subprovince. The DAC Deposit has Indicated Mineral Resources of 10.8 million tonnes at an average grade of 1.05 g/t gold and Inferred Mineral Resources of approximately 8.3 million tonnes at an average grade of 0.92 g/t gold using a 0.5 g/t gold cut-off grade. The estimated contained ounces in the Indicated category are 364,000 plus 247,000 ounces in the Inferred classification. At a cut-off grade of 1.0 g/t gold from approximately 15 metres below surface to a depth of 400 metres, the DAC deposit was estimated to include 3,858,800 tonnes at an average grade of 1.71 gpt Au Indicated (212,310 contained ounces gold) and 2,521,400 tonnes at an average grade of 1.53 gpt Au Inferred (124,390 contained ounces gold). The gold mineralization is open to depth and along strike. In February, 2019 Alto completed a compilation of all drill, geophysical and geochemical data available for the project to determine if there are targets on the Destiny property that when drilled could significantly increase the gold resources on the project. In addition to the Gap and Darla zones, the compilation work has identified three target areas for follow up drilling (see Figure 1). • Target 1 is located 800 m west of the DAC Deposit and is interpreted to lie along the western extension of DAC mineralization. This area was drilled previously by two holes, one of which intersected several intervals of anomalous gold. From the compilation work and interpretation of geology, it is believed that these holes stopped short of the main DAC target horizon and further drilling is required. • Target 2 comprises Zones 20 and 21, located three km east of the DAC Deposit. These were sparsely tested by drilling and mineralization in both zones remains open on strike to the east and west and to depth. • Target 3 is located approximately 500 m south of the DAC Deposit and is interpreted to be along the folded extension of the DAC mineralization. Previous drilling was limited to only two holes 300 m apart, and each intersected intervals of anomalous gold values. Figure 1 Destiny Project - Location of target areas for future diamond drilling to increase the gold resources on the propertyTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4910/45951_6a4998cc0425784b_003full.jpg In addition to gold, the Destiny property has high potential for VMS type deposits as indicated by the presence of airborne VTEM anomalies and the large number of previous drill holes at the DAC Deposit that intersected significant copper, zinc and lead mineralization associated with an exhalite unit containing semi-massive and massive sulphides (see Alto news releases dated February 18, 2010, April 12, 2010). Grades up to 5.79% copper, 3.42% zinc, 1.21 g/t gold and 117.0 g/t silver were intersected over 0.7 m core length at the DAC Deposit. The Resource Estimates for the DAC Deposit were calculated consistent with guidelines set out in National Instrument 43-101 and filed on Sedar on March 7, 2011. Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability. Alto's President, Mike Koziol, P. Geo. is a qualified person under the provisions of National Instrument 43-101 and approves the technical data and conclusions in this news release. About Alto Ventures Ltd Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold properties. The Company is active in the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property. For more details regarding the Company's projects, please visit our website atwww.altoventures.com. ON BEHALF OF THE BOARD, Richard J. Mazur, P. Geo.,CEO 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 release. For further information contact: Mike Koziol,President and DirectorALTO VENTURES LTD.Unit 7 - 1351C Kelly Lake RdSudbury, ON., P3E 5P5Tel: 705-522-6372Email:koziol@altoventures.com Rick Mazur,CEO and DirectorALTO VENTURES LTD.Suite 615-800 W. Pender StreetVancouver, BC, V6C 2V6Tel: 604-689-2599Email:mazur@altoventures.com To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45951
Joe Jonas' Family Arrives to $5k Per Night Wedding Venue Where He Will Wed Sophie Turner Joe Jonas and Sophie Turner 's weekend wedding is almost ready to kick off, moving one step closer with the arrival of the singer's family! Nick Jonas , Priyanka Chopra , Kevin Jonas and his wife, Danielle , as well as Joe's dad, Paul, were spotted outside the duo's french chateau wedding venue on Thursday. The entire family is staying at Château de Tourreau, where the nuptials are expected to go down on Saturday. Fans with money to burn can spent the night at the location for the cool price tag of $4,774. That's right! It's on Airbnb ... but don't expect to get a room next to the newlyweds because they have the whole estate booked out! Inside the Château de Tourreau The private estate is one of the most exquisite and sought after properties in Provence. Despite the large property, it only has 9 bedrooms and bathrooms, and can accommodate only 15 guests. Surrounded by vines, the entryway to the home features century-old trees that lead directly to the venue. An infinity pool sits on the 20-acre grounds if the bride and groom decide to have some down time between wedding festivities. If Sophie Turner wants to get a tan before her big day, she can slap on a bathing suit and soak up the sun with her sister-in-laws right outside their room. Besides swimming, guests can also enjoy several other accommodations on the grounds -- including a squash and fitness area, as well as tennis, basketball and volleyball courts. With 9 rooms there's plenty of space for Joe Jonas and Sophie Turner's families, but most likely the newlyweds will bunk up in one of the top-floor suites. There's plenty of bathroom space for the bride's glam squad with several sinks and a giant tub if any of the bridesmaids want to get ready with her. Joe and Sophie were spotted at the venue this AM. The "Game of Thrones" star was seen keeping hydrated and wearing a shirt reading, "We should all be feminists." As The Blast reported, Joe and Sophie already tied the knot last month with a surprise ceremony in Las Vegas -- but expect this one to be just as fun!
Is TFS Financial Corporation's (NASDAQ:TFSL) High P/E Ratio A Problem For Investors? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). We'll look at TFS Financial Corporation's (NASDAQ:TFSL) P/E ratio and reflect on what it tells us about the company's share price.TFS Financial has a P/E ratio of 59.1, based on the last twelve months. That corresponds to an earnings yield of approximately 1.7%. See our latest analysis for TFS Financial Theformula for P/Eis: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for TFS Financial: P/E of 59.1 = $17.54 ÷ $0.30 (Based on the trailing twelve months to March 2019.) A higher P/E ratio means that investors are payinga higher pricefor each $1 of company earnings. That isn't a good or a bad thing on its own, but a high P/E means that buyers have a higher opinion of the business's prospects, relative to stocks with a lower P/E. Generally speaking the rate of earnings growth has a profound impact on a company's P/E multiple. Earnings growth means that in the future the 'E' will be higher. That means even if the current P/E is high, it will reduce over time if the share price stays flat. So while a stock may look expensive based on past earnings, it could be cheap based on future earnings. TFS Financial shrunk earnings per share by 6.6% last year. But it has grown its earnings per share by 6.9% per year over the last five years. The P/E ratio essentially measures market expectations of a company. As you can see below, TFS Financial has a much higher P/E than the average company (14) in the mortgage industry. Its relatively high P/E ratio indicates that TFS Financial shareholders think it will perform better than other companies in its industry classification. Shareholders are clearly optimistic, but the future is always uncertain. So investors should always consider the P/E ratio alongside other factors, such aswhether company directors have been buying shares. It's important to note that the P/E ratio considers the market capitalization, not the enterprise value. So it won't reflect the advantage of cash, or disadvantage of debt. The exact same company would hypothetically deserve a higher P/E ratio if it had a strong balance sheet, than if it had a weak one with lots of debt, because a cashed up company can spend on growth. While growth expenditure doesn't always pay off, the point is that it is a good option to have; but one that the P/E ratio ignores. TFS Financial has net debt worth 70% of its market capitalization. This is a reasonably significant level of debt -- all else being equal you'd expect a much lower P/E than if it had net cash. TFS Financial's P/E is 59.1 which suggests the market is more focussed on the future opportunity rather than the current level of earnings. With relatively high debt, and no earnings per share growth over twelve months, it's safe to say the market believes the company will improve its earnings growth in the future. When the market is wrong about a stock, it gives savvy investors an opportunity. People often underestimate remarkable growth -- so investors can make money when fast growth is not fully appreciated. So thisfreevisual report on analyst forecastscould hold the key to an excellent investment decision. Of courseyou might be able to find a better stock than TFS Financial. So you may wish to see thisfreecollection of other companies that have grown earnings strongly. 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.
US STOCKS-Wall St trims gains after Kudlow's trade comments (For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) * Kudlow says U.S. may move ahead on additional China tariffs * Xi to present Trump with terms for settling trade war -WSJ * U.S., China agree to tentative trade truce -report * Boeing falls as FAA cites new flaw in 737 MAX jets * Walgreens rises on quarterly profit beat * Indexes: Dow off 0.15%, S&P up 0.20%, Nasdaq up 0.35% (Updates prices, comments) By Shreyashi Sanyal June 27 (Reuters) - U.S. stocks pared early gains on Thursday, with the S&P 500 hitting a session low, after hopes of a trade deal were dented by White House economic adviser Larry Kudlow's comment that Washington may move ahead with more tariffs on Chinese goods. There were no preconditions set ahead of any trade talks with China, Kudlow said, ahead of President Donald Trump's meeting with his Chinese counterpart, Xi Jinping, this weekend. Markets rose earlier in the session after South China Morning Post reported that the two sides were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports. "I think expectations for a deal are still fairly low. All markets want to see now is the trade deal is not worsening," said Rick Meckler, partner, Cherry Lane Investments in New Vernon, New Jersey. "Stock prices are fairly high by most measures and for those looking to invest more, the lack of clarity keeps them from making that commitment." A Wall Street Journal report that the Chinese president planned to present Trump with a set of terms Washington should meet before Beijing is ready to settle their trade dispute also tempered optimism. Financials rose 0.62% with big lenders leading the charge, ahead of results of the second part of Federal Reserve's annual stress test for banks. Semiconductor companies, which have a sizable revenue exposure to China, traded higher, with the Philadelphia Semiconductor index up 1.15%. The S&P technology sector was up 0.10%. Boeing Co fell 2.3%, pressuring the blue-chip Dow Jones index, after Reuters reported that the U.S. Federal Aviation Administration identified a new flaw in the planemaker's grounded 737 MAX jets. At 11:37 a.m. ET the Dow Jones Industrial Average was down 39.14 points, or 0.15%, at 26,497.68 and the S&P 500 was up 5.97 points, or 0.20%, at 2,919.75. The Nasdaq Composite was up 27.92 points, or 0.35%, at 7,937.89. Data showed U.S. economic growth accelerated in the first quarter but the export and inventory boost to activity masked weakness in domestic demand, some of which appears to have prevailed in the current quarter. Among other stocks, Walgreens Boots Alliance Inc gained 4.6%, the most on the S&P 500, after the drugstore chain beat analysts' expectations for quarterly profit. Ford Motor Co rose 2% after the carmaker said it will have cut 12,000 jobs in Europe by the end of next year to try to return the business to profit. Conagra Brands Inc tumbled 11.4%, the most among S&P 500 companies, after the packaged food company's quarterly sales and profit fell short of analysts' estimates. Advancing issues outnumbered decliners by a 1.98-to-1 ratio on the NYSE and by a 2.32-to-1 ratio on the Nasdaq. The S&P index recorded six new 52-week highs and one new low, while the Nasdaq recorded 19 new highs and 35 new lows. (Reporting by Shreyashi Sanyal, Amy Caren Daniel and Aparajita Saxena in Bengaluru; Editing by Anil D'Silva)
3 Cheap, Benjamin Graham-Type Stocks to Consider Today The dean of value investing might find these interesting
Curaleaf Acquires 2 Businesses In Arizona For $25.5M Curaleaf Holdings Inc(OTC:CURLF) will expand in Arizona through theacquisition of two separate businessesthat will allow it to open two new stores in the Phoenix area. What Happened The vertically-integrated cannabis operator entered into an agreement to acquire Glendale Greenhouse, which operates a cultivation and processing facility, and a prime retail location. The other acquisition involves Phytotherapeutics Management Services, which owns a retail license and a dispensary in Arizona. Both acquisitions have a combined value of $25.5 million, which includes $3.5 million in stock and $22 million in cash. Why It's Important Through the acquisition of Glendale, Curaleaf will get access to a 20,000 square-foot multi-level cultivation center with an estimated annual capacity of 3,600 pounds of flower. In addition, Glendale owns a 1,500 square-foot dispensary located off the Agua Fria Freeway, which can be expanded to 5,000 square feet. Glendale holds the master lease on the 15,000 square-foot building where the dispensary is based. Glendale's processing facility has a CO2 extraction lab and kitchen that is producing various edible products. Once the acquisition of Phytotherepeutics is completed, the license associated with the dispensary will be applied to a new flagship location in a prime spot on the 83rd Avenue in the Phoenix metro area. Curaleaf traded higher by 2.2% to $7.41 per share at time of publication. Need more cannabis news?Check out all of our coveragehere. See more from Benzinga • The Week Ahead In Cannabis: Canopy Earnings, CannaCon In Detroit And More • Curaleaf Makes Acquisition To Enter Ohio Cannabis Market • Curaleaf To Buy 'Select' Brand Owner Cura Partners In 8M Deal © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Air Canada To Buy Transat Air Canada (TSE:AC) will acquire Transat A.T. (TSE:TRZ), the parent company of Canada's third-largest airline, strengthening its position as the country's dominant carrier. The companies announced on June 27 that they had reached a final agreement for Air Canada to pay C$520 million, or C$13 per share for Transat. (A Canadian dollar equals US$0.76.) Negotiations began in April. The merger will bring "enhanced capabilities in the highly competitive, global leisure travel market and from access to new destinations, more connecting traffic and increased frequencies," Air Canada CEO Calin Rovinescu said in a statement. Transat is primarily a tour operator that specializes in vacation packages. Its airline, Air Transat, serves serves 67 destinations from Canada, largely in the Carribean, South America and Europe. Air Transat has a fleet of 38 planes, 20 of which are widebody Airbus A330s. Air Canada said it plans to preserve Transat's brands. Air Transat has offeredair cargo services since 2009. Its 2018 annual results included C$135 million in revenue classified as "other," which includes air cargo. Overall, Transat posted a net income of C$7.3 million on revenue of C$2.99 billion for 2018. Air Canada recorded a net income of C$345 million on C$4.4 billion of revenue in 2018. The companies said they expect the transaction to close in early 2020 after regulatory and shareholder approval. Image Sourced From Pixabay See more from Benzinga • What Is Drayage? • U.S. Rail Volumes Continue To Drop • FreightWaves Introduces Major U.S. Airport Truck Wait Times In SONAR © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
'This is really quite dramatic': Cocaine is booming like never before A massive surge in cocaine production has flooded markets around the world, according to the United Nations Office on Drugs and Crime (UNODC). In theirlatest annual report, UN researchers noted that “estimated global illicit manufacture of cocaine reached an all-time high of 1,976 tons… in 2017, an increase of 25 per cent on the previous year.” Last year, UNODC Executive Director Yury Fedotov said that “drug markets are expanding, with cocaine and opium production hitting absolute record highs, presenting multiple challenges on multiple fronts.” This year, that trend continued with cocaine while opium production declined. The key reason for the boom is because Colombia saw a 17% expansion in the area used for coca bush cultivation year-over-year, which resulted in a 31% rise in the amount of cocaine produced. Colombia produces an estimated 70% of the world’s cocaine according to the UN. “Cocaine production has been massively increasing, particularly in Colombia… it’s a significant boom,” Thomas Pietschmann, the World Drug Report’s research officer and lead author, told Yahoo Finance. “The overall level we have now, we have never seen before.” While the report is backward-looking, massive amounts of cocaine have been seized in the past few months — such as thehistoric bustof 30,000 pounds of cocaine in Philadelphia which were worth over$1 billion in street valueearlier this month, and the 333 poundsseized in Baltimoreworth $10 million — underscoring the fact that supply is trending upwards. And along with the supply boom, “we see a massive increase of cocaine consumption in North America… in Europe, and also in other parts of the world,” added Pietschmann. “It’s really becoming — in this case — a phenomenon.” Based on Europe wastewater analysis —one methodexperts use to monitor the quantity of illicit drugs used in a community — experts reported that “from 2011 to 2018, we’ve seen an increase in cocaine consumption... of 56%,” Pietschmann said. “This is really quite dramatic. And this is a conservative estimate.” The report estimated that 18.1 million people used cocaine in the past year globally, with the highest rates reported in North America and Australia/New Zealand. In the United States, in 2017, 2.2% of the population aged 12 and older had used cocaine in the past year, according to the report. Usage was the highest in the West (2.5%). Young adults aged 18 to 25 were the biggest demographic that used cocaine, with 6.2% of the age group reporting recent use. Consumption was still rising because of “increasing availability of cheaper and purer cocaine than ever,” the report added. Pietschmann noted that the trends in North America and Europe matched “both in terms of numbers of users, and even more dramatic in terms of people dying from cocaine.” Most of the world’s cocaine originates from Colombia and to a lesser extent Peru, and heads to the “main consumer markets” which are North America and Western and Central Europe, the report explained. An estimated 93% of cocaine that ends up in the U.S. originated in Colombia. According to American authorities, the cocaine that’s shipped into the U.S. comes through Mexico, having transited through countries like Colombia, Ecuador and Guatemala. And while the U.S. has traditionally been an “end market” for cocaine traffickers, Pietschmann said, traffickers are increasingly using the U.S. as a jumping off point for even more far-flung markets. “You are seeing drugs being transported from South America, through Mexico, to the United States, to Canada,” explained Pietschmann. “From there they go to Australia.” A big boost in cocaine supply and consumption Down Under has authorities worried. According to a recent report by theGuardian, hundreds of kilograms of drugs have appeared on remote Pacific beaches and eventually making its way to Australia and New Zealand. "In [the New South Wales] we have a major problem with the abuse of psychostimulants and the principle psychostimulants are cocaine and amphetamines,” crime statistician Don Weatherburn told theSydney Morning Herald. “There is no doubt Sydney is the cocaine capital of Australia.” He added: "My worry is that most of the current users are still only using on weekends or once a month, but if we get a large number using weekly or daily then we are going to see increases in other crime." Australia as a market is highly profitable, the UNODC report found, with the estimated wholesale price of cocaine to be between $136,000 to $226,000 per kilogram between 2016 and 2018. “Such high prices make the smuggling of cocaine profitable even from high-price transit countries such as the United States, where cocaine wholesale prices ranged between $4,000 and $50,000 per kg in 2017,” the report stated. The same amount of cocaine would only fetch $880 in Peru. — Aarthi is a writer for Yahoo Finance. Follow her on Twitter@aarthiswami. Read more: • World Drug Report: There are two massive markets for meth • Juul exposed: How Big Vape took a page from Big Tobacco’s old ad playbook • The 'Cheap Date Index': Here's how much it costs to go out around the world • Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
Kamala Harris Has Been Waiting For Her Breakout Moment. Heres Why It Could Come At the First 2020 Democratic Debate The stakes are high for all of the Democrats in Thursday nights debate, but perhaps no 2020 candidate has more riding on the outcome than California Sen. Kamala Harris . Harris has failed to capitalize on a strong campaign launch in January that led many party insiders to label her a top contender for the partys presidential nomination. Shes polling at around 7% in national surveys, settling into fourth place in most polls behind former Vice President Joe Biden, Vermont Sen. Bernie Sanders and Massachusetts Sen. Elizabeth Warren, while lesser-known competitors like Indiana Mayor Pete Buttigieg nip at her heels. But theres strong reason to think that the debate stage could be Harriss breakout moment. A former California Attorney General and longtime prosecutor, Harris has demonstrated her litigating skills in the Senate, employing sharp lines of questioning toward high-profile figures like Supreme Court Justice Brett Kavanaugh and Attorney General William Barr. This skill has earned the grim admiration from her colleagues across the aisle, who placed her in the top tier of Democratic interrogators . She was definitely more effective [than some of her other colleagues] at questioning, recalls one former Senate Judiciary Committee aide. Being a prosecutor and attorney general its a mixture for a tough questioner. This time, Harris will be the one answering the questions rather than asking them. But Democratic insiders say her familiarity with the back-and-forth format, coupled with her strong debate performances in previous elections, could help her stand out among a crowded field. Debates are different than committee hearings, says Jesse Ferguson, a Democratic strategist who worked for Hillary Clinton in the 2016 election but is not currently affiliated with any presidential campaign this cycle. But if youve seen Senator Harris at a hearing or on the campaign trail, she has shown an ability to prosecute the case against Trump in a compelling way. In the debates she will have the largest audience shes ever had in order to do that. Story continues Harris team knows that the debate stage will be the first introduction to the Senator for many voters. Harris has spent the past several days in Miami, huddled with a team of advisers and campaign staffers, preparing for Thursday night over takeout meals of Cuban and Caribbean take-out. Her campaign is eager to make the case that her experience as a prosecutor makes her the best candidate to press the case against the President. Videos of Harris debates during prior campaigns reveal a candidate who speaks confidently and sharply, albeit sometimes running over the allotted time, and comes prepared to parry attacks. In 2016, Harris faced off in a Senate debate against Democrat Loretta Sanchez, who attacked Harris record on crime. Harris was ready with a quick retort . Lets also understand the fear-mongering, the Willie Horton on the crime piece is not going to get it, she said at the time, subsequently citing a local news report that said crime rates had plummeted. But Harris has also demonstrated a skill that may serve her even more than debating acumen: an ability to break through the cacophony. Senate committee hearings are usually dry affairs, yet Harris has managed to parlay several exchanges into viral sensations while also yielding informative responses. When she questioned Barr in May, he was unable to say whether or not President Donald Trump had suggested he open any sort of investigation, and that he had not read the underlying evidence of Special Counsel Robert Muellers report into Russian interference in the 2016 election. And she raised eyebrows during her exchange with Kavanaugh last September when she asked him if he had ever had a meeting about Muellers investigation with anyone at the law firm of President Trumps personal attorney Marc Kasowitz. That firm pushed back against these allegations, and no information ever surfaced, but the line of questioning raised Harris profile. Both clips have subsequently been viewed millions of times. If Harris can have a similar moment on Thursday, her allies think she will be in good shape. Out of everyone, I think she is in the best position to shine and to come out of the debates with a bump in her poll numbers, said Stefanie Brown-James, the co-founder of the Collective PAC, which recruits African American candidates, and is currently supporting both Harris and New Jersey Senator Cory Booker. This is totally her moment to own.
The Dutch Inland Waterways Network Is Reinventing Itself To Stay Ahead Of Times The Netherlands is home to the port of Rotterdam – the largest container port in Europe and the tenth largest in the world, with a total throughput volume of 469 million tonnes in 2018. However, what is even more impressive is the country's inland waterways market. With roughly 6,000 ships sailing on its rivers and channels, the Dutch inland waterways account for nearly 80 percent of all the vessels that sail inland within Europe – an overwhelming dominance in a market that is now gaining relevance for its low fuel-consuming freight movement. Nancy Scheijven-Westra, the director of the Dutch vessel traffic and water management department, spoke at the Autonomous Ship Technology conference in Amsterdam, highlighting the importance of increasing competitiveness, safety and sustainability within the inland sector through the use of innovative automated shipping technology. Scheijven-Westra initiated her talk by pointing out the Dutch infrastructure and water management ministry's commitment to smart shipping – and an acknowledgement of the existential threat to the competitive advantage that inland waterways have over the roadways. Over the last few years, road transport has seen an extensive push towards self-driving vehicle technology, having captured the collective interest of original equipment manufacturers, software giants and startups – with all of them working toward a common goal of putting fully autonomous vehicles on the road within the next decade. If the system of waterways wants to wrestle back its dominance, it will have to invest heavily in the technology of autonomous ships. Then again, inland waterways have a more immediate concern floating around – the receding water levels within rivers and canals across large swathes of Europe. Though there has been a clamor for building bigger locks across channels to enable larger vessels to sail inland, these demands might fritter away when water levels run low in inland waterways. To circumvent this issue, the industry should look at introducing smaller, autonomous ships. That apart, there also is the concern of an aging population behind the steering wheel, with Scheijven-Westra mentioning that the average age of those sailing inland ships is around 50 years within the Netherlands. For the Dutch waterways ministry, it is important to step in and promote smart shipping and unmanned freight movement, because technology can have an incremental effect on the country's economic welfare, safety and moral sustainability. The ministry has unveiled a single window application system for companies that wish to test autonomous ship technology within Dutch waters. "You can say what you want to test, with whom you want to test, and where you want to test – you can practically test anywhere as long as you say where, and we will set the preconditions on how you can test," said Scheijven-Westra. Aside from testing on inland waterways, companies can also sail their autonomous ships in a 12-mile zone in the North Sea bordering the Netherlands – a convenient area to test collision avoidance systems. Testing such futuristic technology brings together a variety of stakeholders like academic institutions, industry incumbents and the governing bodies to the table, to discuss the adaptations needed within the industry to expedite the roadmap to adoption. "This is not just from the point of view of the shipbuilder, but also the point of view of the legislator as he would have to know how it works to put it in the legislation," said Scheijven-Westra. With the advent of unmanned vessel technology, the lines separating shipbuilders and autonomous software providers will gradually cease to exist, because both stakeholders are critical to realizing a fully autonomous ship in the waters. "As the government, we will take up the role to bring all the parties together so that they can have a shared community," said Scheijven-Westra. "It is not just the government taking up all the effort, but we want to do it together as it is not us who decide on how the sector looks like, but the people." Image Sourced From Pixabay See more from Benzinga • Air Canada To Buy Transat • What Is Drayage? • U.S. Rail Volumes Continue To Drop © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
A Closer Look At CONMED Corporation's (NASDAQ:CNMD) Uninspiring ROE Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. To keep the lesson grounded in practicality, we'll use ROE to better understand CONMED Corporation (NASDAQ:CNMD). Our data showsCONMED has a return on equity of 4.5%for the last year. Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.045. View our latest analysis for CONMED Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for CONMED: 4.5% = US$31m ÷ US$693m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. It is all earnings retained by the company, plus any capital paid in by shareholders. You can calculate shareholders' equity by subtracting the company's total liabilities from its total assets. ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the profit over the last twelve months. A higher profit will lead to a higher ROE. So, as a general rule,a high ROE is a good thing. Clearly, then, one can use ROE to compare different companies. Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. If you look at the image below, you can see CONMED has a lower ROE than the average (9.2%) in the Medical Equipment industry classification. That certainly isn't ideal. It is better when the ROE is above industry average, but a low one doesn't necessarily mean the business is overpriced. Still,shareholders might want to check if insiders have been selling. Virtually all companies need money to invest in the business, to grow profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the use of debt will improve the returns, but will not change the equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking. CONMED does use a significant amount of debt to increase returns. It has a debt to equity ratio of 1.18. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it. Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have the same ROE, then I would generally prefer the one with less debt. But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to check this FREEvisualization of analyst forecasts for the company. Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Zacks.com featured highlights include: Caseys, Lithia Motors, Lockheed, TeleTech and Intuit For Immediate Release Chicago, IL – June 27, 2019 - Stocks in this week’s article areCaseys General Stores Inc.CASY,Lithia Motors Inc.LAD,Lockheed Martin Corp.LMT,TeleTech Holdings Inc.TTEC andIntuit Inc.INTU. Market-Beating Dividend Stocks to Buy Now Honing in on dividend is a tried-and-true practice during market turbulence. These cash payouts are major sources of consistent income for investors when returns from the equity market are at risk. Investors can enjoy rising current income, while anticipating capital appreciation irrespective of market conditions. In particular, stocks that have a strong history of dividend growth as opposed to those that pay high yields form a healthy portfolio with more scope for capital appreciation. For the rest of this Screen of the Week article please visit Zacks.com at:https://www.zacks.com/stock/news/434409/6-marketbeating-dividend-growth-stocks-to-buy-now 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. About Screen of the Week Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use. Strong Stocks that Should Be in the News Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>. Follow us on Twitter: https://twitter.com/zacksresearch Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Contact: Jim Giaquinto Company: Zacks.com Phone: 312-265-9268 Email: pr@zacks.com Visit: www.Zacks.com Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportLithia Motors, Inc. (LAD) : Free Stock Analysis ReportLockheed Martin Corporation (LMT) : Free Stock Analysis ReportIntuit Inc. (INTU) : Free Stock Analysis ReportCaseys General Stores, Inc. (CASY) : Free Stock Analysis ReportTeleTech Holdings, Inc. (TTEC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Tonight's Democratic Debate Is Biden's Chance to Prove Why He's Leader of the Pack It’s Joe Biden’s moment to shine — or stumble. The former vice president has a chance to solidify his front-runner status — orjeopardizeit with a characteristic gaffe — when he takes the stage in Miami for the second night of the Democrats’ debut 2020 presidential debate. Biden, who is trying to steer the party on a centrist course, will go head-to-head with Vermont Senator Bernie Sanders — the progressive who’s been running second in polls — and eight other candidates, including California Senator Kamala Harris and Mayor Pete Buttigieg of South Bend, Indiana. The first tranche of potential challengers to Donald Trumpfaced offlast night, with Elizabeth Warrenemergingas the big winner. The Massachusetts senator and liberal firebrand went largely unchallenged by her opponents and used the opportunity to bring her argument that she’s the strongest alternative to Biden to a national television audience of millions. In many ways, the debate was fought on Warren’s turf, with a focus onincome inequality,busting corporate powerand battling Republicans in Congress. But translating success into momentum, particularly with seven months to go before the first votes are cast, remains an uphill battle for nearly everyone in the crowded field. The nomination is still Biden’s to lose — for now. —4 times 2020 candidates clashed during theDemocratic debate —5 things to watch for onnight 2of the Democratic presidential debate —What the2020 Democratic candidates didn’t sayduring the first debate —Elizabeth Warrenholds her own as lesser-knowns break out in first debate —Julián Castrobreaks out in a debate defined by border policy and immigration —Can socialism win in 2020?Democrats aren’t embracing it
Instagram Explore may add over $1B to Facebook's revenues: Morgan Stanley Facebook's (FB) new ad-based feature for Instagram is a potential goldmine, Morgan Stanley said on Thursday, estimating that Explore may generate well over $1 billion for the social network. Morgan Stanley, which rates Facebook’s stock as “overweight” with a target price of $210, cited Facebook’s plans to introduce advertising to Instagram Explore’s tab for the first time. With those changes, new ads will appear when users go into Explore posts and scroll down to see related content, but the main grid itself will remain free. It plays to what Morgan Stanley said are “aspirational” browsing on the platform. The bank’s analysts believe thatFacebookis in a position to monetize Explore, and ramp up platform engagement in the process. Explore could add at least $1 billion to Facebook’s revenue, and quite possibly higher, Morgan Stanley said. “We believe Explore will also likely play well into Instagram Commerce's efforts…[and] could conservatively add $4 billion to 2021 revenue,” the analysts wrote in their report. Lastly,Morgan Stanleyemphasized Facebook’s core content like, News Feed, Instagram, Video and Stories as ways the company is continuing to use innovation to monetize its engagement. “Facebook continues to find ways to extend its earnings runway by monetizing under-monetized engagement and usage…FB’s strong engagement enables it to continue to layer on revenue drivers even as the business approaches” around $100 billion of revenue by 2021, they wrote. Facebook’s shares traded onNasdaq, added $1 to trade around $189 in midday trading. Amid wide ranging controversies about user privacy and increased regulation, Facebook stock is down nearly 15% from its 52 week high of $218.62. Donovan Russo is a writer for Yahoo Finance. Follow him@Donovanxrusso. Read more: • UBS: World economy ‘one step away from global recession' • Why Trump-Xi meeting won't produce a trade war 'breakthrough' at G20: Goldman Sachs • Trump blasts Federal Reserve as 'stubborn child' on rate policy • GrubHub stock soars as Citi cites delivery tests as a reason to buy Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit.
A Closer Look At CONMED Corporation's (NASDAQ:CNMD) Uninspiring ROE Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). To keep the lesson grounded in practicality, we'll use ROE to better understand CONMED Corporation (NASDAQ:CNMD). CONMED has a ROE of 4.5%, based on the last twelve months. That means that for every $1 worth of shareholders' equity, it generated $0.045 in profit. Check out our latest analysis for CONMED Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for CONMED: 4.5% = US$31m ÷ US$693m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. It is all the money paid into the company from shareholders, plus any earnings retained. The easiest way to calculate shareholders' equity is to subtract the company's total liabilities from the total assets. ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the yearly profit. That means that the higher the ROE, the more profitable the company is. So, all else being equal,a high ROE is better than a low one. That means ROE can be used to compare two businesses. Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. If you look at the image below, you can see CONMED has a lower ROE than the average (9.2%) in the Medical Equipment industry classification. Unfortunately, that's sub-optimal. We'd prefer see an ROE above the industry average, but it might not matter if the company is undervalued. Nonetheless, it could be useful todouble-check if insiders have sold shares recently. Companies usually need to invest money to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the use of debt will improve the returns, but will not change the equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same. CONMED clearly uses a significant amount of debt to boost returns, as it has a debt to equity ratio of 1.18. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it. Return on equity is one way we can compare the business quality of different companies. In my book the highest quality companies have high return on equity, despite low debt. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE. Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to check this FREEvisualization of analyst forecasts for the company. If you would prefer check out another company -- one with potentially superior financials -- then do not miss 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.
Here's Why Zogenix Shares Rose as Much as 23.8% Today Shares ofZogenix(NASDAQ: ZGNX)rose nearly 24% today after the company announced that it had come to an agreement with the Food and Drug Administration to resubmit a new drug application (NDA) for Fintepla, a drug candidate intended to treat seizures associated with Dravet syndrome. The development resumes the process for potentially getting the drug on the market after an embarrassing delay. Regulators handed Zogenix a refusal-to-file (RTF) in April. In other words, the FDA decided it wouldn't even consider Fintepla for review afterfinding two errors in the original NDA. The company apparently didn't include all nonclinical studies of the drug and submitted an incorrect version of a clinical data set. The issues have been cleared up after a recent meeting, and the NDA can now be submitted for review. But it won't happen until the third quarter of 2019. As of 11:53 a.m. EDT Thursday, the stock had settled to a 19.6% gain. Image source: Getty Images. Today's news puts Zogenix back on the path to potentially receiving marketing approval for Fintepla, but investors may want to inject some caution into their optimism. The drug is racing to compete with Epidiolex fromGW Pharmaceuticalsfor the same indication, which makes the three-month delay potentially costly. Will a three-month delay really matter in the long run? Well, prior to receiving the RTF letter from regulators, analysts projected that Fintepla might be able to generate peak annual sales of $600 million in Dravet syndrome by 2029. Considering that the errors in the original NDA weren't related to the drug candidate's performance, it's possible this episode is forgotten. That said, Zogenix is in this position because of its inexperience as a pre-commercial drug company, which is a risk investors cannot dismiss during market launch and while it is ramping up sales. 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 Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Ford's New Plan for Europe: Fewer Jobs, More SUVs Fordhas revealed a grand restructuring of its European operations, which will allow it to focus more on the commercial vehicles sector and the sale of SUVs—many of which will be on the smaller side to suit the European market. The restructuring also involves the loss of 12,000 jobs, though these have already been announced piecemeal over recent months—examples include the proposed closure of Ford’sBridgend engine plantin Wales, and a raft of factory cuts inFrance and Russia. A total of six European facilities will be sold or shuttered. As a result of the overall restructuring exercise, Ford said, its European financial results would “significantly” improve for 2019. The continent was a loss-maker for Ford last year, partly thanks to declining demand, but then again so wasevery regionexcept for North America. “Ford will be a more targeted business in Europe, consistent with the company’s global redesign, generating higher returns through our focus on customer needs and a lean structure,” said Ford Europe President Stuart Rowley in a statement. The restructuring creates three new business groups, covering commercial vehicles, passenger vehicles, and imports. Ford is already the European market leader invansandpickups, and it hopes to double its profitability in this segment within the next five years. The company will also push its passenger vehicle business hard in Europe. It wants to triple its imports in this segment by 2024, with models including an “all-new Mustang-inspired fully electric performance utility” that will appear late next year. Indeed, Ford seems to be placing a lot of emphasis on the SUV sector, promising three new models in the next five years—all of which will come with an electrified option. “A future family of battery electric vehicles will be assembled in Europe,” the company said. Europeans have a well-deserved reputation for buying smaller cars, but they are also increasingly buying SUVs—albeit on the more compact side. In fact, SUV sales have recently beenoffsettingdeclining sales in more traditional segments. This week, Ford unveiled a small, new SUV for the European market: the Puma, which is based on the same small-car platform as the Fiesta. The aim is for the Puma to tempt customers away from the small SUVs being sold by European brands such as Renault and Peugeot—and, perhaps surprisingly, also from premium compact-car brandssuch as BMW’s Mini. Ford claims the Puma, which will be released next year, offers best-in-class trunk space. Ford is not the only carmaker to be cutting thousands of jobs—so areGM, Volkswagen and (reportedly) Daimler. Many manufacturers are restructuring as customer tastes shift, as electrification becomes a must-have due to stricter emissions standards, and as autonomous vehicles loom on the horizon. Electric and self-driving cars are expensive to develop. In its Thursday announcement, Ford said its European cuts would reduce its manufacturing-facility footprint in the region from 24 to 18. With 12,000 jobs set to go—Germany, the U.K. and Russia are being hit hardest—that means a European workforce reduction of around 22%. “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,” said Rowley. “We are grateful for the ongoing consultations with our works councils, trade union partners and elected representatives.” Union members at the Bridgend plant held a consultative ballot a couple weeks ago in which they overwhelmingly decided to keep the possibility of strikes on the table. However, no industrial action is planned for now. Ford said Thursday that its long-term goal for Europe was to deliver a 6% margin on earnings before taxes and interest. —Indian workers on H-1B visascould be casualties of a U.S. trade spat —China iscreating an “entity list”to avenge Huawei and punish foreign firms —4 reasons to beskeptical about Facebook’s Libracryptocurrency —Bernie Sanders wantsemployee ownership—already a trend in the U.K. —Listen to our new audio briefing,Fortune500 Daily Catch up withData Sheet,Fortune‘s daily digest on the business of tech.
The Queen Apparently Prefers Meghan Markle Over Kate Middleton for This Reason Click here to read the full article. To the outside eye, the Queen seems to have a tight-knit relationship with the both Prince William and Prince Harry ’s wives. But according to the U.’s Mirror, one royal expert has reason to believe Queen Elizabeth is close to Meghan Markle, not Kate Middleton . Although to be clear, this doesn’t mean the Queen isn’t fond of Kate — they simply have a very different dynamic, claims the source. Royal expert Ingrid Seward, the editor-in-chief of Majesty Magazine, suggested to Sun Online that Her Majesty feels more of a kinship with Meghan. Not by any fault of Kate’s, per se, but simply because the Queen and Meghan have similar interests. “The Queen admires Kate tremendously but does not have an intimate relationship with her as they don’t have much in common. I think the Queen and Kate have a more serious relationship as obviously Kate holds all the Queen’s hope for the future and she would not want to do anything to upset that,” said Seward. Related stories Meghan Markle & Serena Williams Are Reuniting at Wimbledon & We Need Pics ASAP Camilla Apparently Thought Kate Middleton Was 'Too Common' for Prince William William and Harry's Royal Charity Feud Might've Been Because of Meghan & Kate As for Meghan, Seward believes the Duchess of Sussex — much like her husband — knows how to make the Queen laugh, a trait she appreciates. Plus, they both love dogs! Added Seward, “With Meghan, she would tread very carefully and do her best to make her feel at home.” Lately, the Queen’s outings with Kate seem to dominate headlines. It makes sense, of course, that Kate would be more present in the royal family events at the moment. She and William are second in line for the throne, putting them in a position to be named King and Queen consort and adding to the weight of their roles and responsibilities within the monarchy. Also, Meghan is still on maternity leave, so no one is seeing much of the Duchess of Sussex at the moment (except sweet baby Archie!). Story continues It’s also worth noting that, per The Sun, neither Will nor Harry (or, presumably, their wives) can claim the title of the Queen’s “favorite.” That title apparently belongs to Zara Tindall and her husband, ex-rugby player Mike Tindall. The Queen reportedly finds the couple, who has two daughters, to be pleasantly “normal” and non-pretentious. “The Queen has always adored Zara and is so proud of her riding success,” Seward revealed. Naturally, it’s also possible the Queen appreciates the fact that Zara and Mike tend to stay out of the fray and remain feud-free. As Seward puts it, “She can be herself around them.” Sign up for SheKnows' Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Cannabis Beverages May Not Give the High HEXO and Molson Coors Are Looking For Molson Coors(NYSE: TAP)is ready to tap into Canada's new cannabis-infused beverage market using its joint venture, Canadian marijuana growerHEXO,(NYSEMKT: HEXO)to produce nonalcoholic beverages for the market as soon as it is legal to do so. While it says it's ready to hit the ground running, the beverage maker might still stumble as it runs into a Canadian regulatory roadblock that causes cannabis drinks to be a really bad trip. Image source: Getty Images. Molson and HEXO created the Truss joint venture last year, setting it up as a stand-alone company with its own board of directors and independent management team. Molson owns a controlling 57.5% interest in the JV, with HEXO owning the remaining 42.5%. Its CEO is former Molson executive Brett Vye, who reports to a five-member board of directors. Molson appointed three members to the board, HEXO two. Truss executives recently told Bloomberg they were prepping for the December 16 legalization date for beverages. HEXO vice president of strategic development Jay McMillan said, "We'll have a very large supply so we'll be in a good position to be able to meet the demand of the marketplace and at the same time also ensure that we're meeting the variety that the marketplace wants." Among the drinks being considered are cannabis-infused water, hot beverages, and a "beer-like product." Canadian regulations prohibit using terms like "beer" and "wine" when marketing the alcoholic beverages, so Truss and other brewers and vintners intending to capitalize on the opportunity will have to be creative with the beverage names. Although the U.S. already has cannabidiol-infused beers and beverages on the market following the marijuana compound's legalization last year, McMillan derided them as tasting like "bong water." So being early to market and getting the taste right is important because of the potential opportunity pot drinks represent. Molson president and CEO Mark Huntertold analystslast year that although it's difficult to provide a number because cannabis beverages were illegal at the time, he believed the total cannabis market in Canada to be about $7 billion to $10 billion in size, with beverages accounting for anywhere from 20% to 30% of the total, or as much as $3 billion. Even on the low end that's a $1.5 billion opportunity. But analysts might have gotten ahead of themselves in their euphoria over marijuana's legalization and the potential for marrying weed with alcohol. Although Canadians spent some $41 million on legal weed just one month after the country legalized it, year-to-date sales haven't really held up, coming in much less robust than initially anticipated and getting off to a muchslower startthan many thought they would. The beverage industry might also be in for a surprise now that the government has limited the amount of tetrahydrocannabinol (THC), the principal psychoactive component of marijuana, that is allowed to be present in a drink. According to the just-released regulations, THC cannot exceed 10 milligrams in a package, meaning an entire six-pack of cannabis-infused "beer" can contain only 10 milligrams, dramatically limiting the experience drinkers can expect. Even in the U.S., where cannabis is not legal on a federal level, states allow individual servings to contain 10 milligrams of THC, and California recently clarified its rules to say THC could not exceed 100 milligrams across the whole package. It's possible Canada could revisit its regulations to refine them, but given where they stand now, when Molson Coors and HEXO stock Canadian store shelves with their new cannabis beverages in December, they just might turn out to be a real buzzkill. More From The Motley Fool • Beginner's Guide to Investing in Marijuana Stocks • Marijuana Stocks Are Overhyped: 10 Better Buys for You Now • Your 2019 Guide to Investing in Marijuana Stocks Rich Dupreyhas no position in any of the stocks mentioned. The Motley Fool owns shares of Molson Coors Brewing. The Motley Fool recommends HEXO. The Motley Fool has adisclosure policy.
Survey: 27% of UK Residents Want to See Crypto in More Real-World Applications 27% of surveyedUnited Kingdomcitizens hope to seecryptocurrenciesin “real-world applications," according to recentresearchby U.K.-based crypto exchangeCEX.io, technology news outlet BTCManager reported on June 27. CEX.io provided BTCManager the results of its recent survey focused on the level of adoption, application, and expectations of digital currencies in the U.K. The report — which was prepared in collaboration with London-based research firm qriously — highlights answers from 1,013 respondents. Per the survey, 32% of respondents said that they would like the technology to be better integrated with "everyday technology" likepaymentsapps and mobile storage, while 27% revealed they want to see crypto in “real-world applications such as credit card payments or sending money abroad. When asked why they own crypto, 21% of respondents said that purchased some driven by curiosity, 18% reportedly liked trading, and 21% were waiting for prices to surge. 43% of those surveyed owned Bitcoin (BTC), which made the coin dominant among the 13% who said that they owned any cryptocurrency. 28% of those who did not hold any digital currency said they would purchase crypto if they had better understanding of it, 12% would if they knew how to store it securely, 11% would own crypto if they could buy real-world goods with it, and 7% would if it were easier to buy. Asurveyby Moscow-based cybersecurity firm Kaspersky Lab introduced on June 17th revealed that 19% of people globally purchased cryptocurrency. According to the report, 81% of global population have never purchased cryptocurrencies, while only 10% of respondents said they “fully understand how cryptocurrencies work.” In May, Dubai-based financial consultancy firm deVere Group released asurveyrevealing that 68% of global high-net-worth individuals have already invested or are planning to invest in crypto by the end of 2022. • Coinbase Releases Key Findings on Crypto Awareness and Adoption in US • Overstock’s tZero Launches Mobile Crypto App Touted as Hack-Resistant • Former Visa Exec-Led Startup Ships Nearly 4,000 Crypto Cards in a Week • Huobi Expands to Turkey Where 20% of the Population Hold Crypto
Television reporter wears braids on-air in break from 'industry standard' A news anchor broke industry standards by wearing braids on-air. (Photo: Courtesy of Lauren Kostiuk) A television anchor is challenging industry standards by confidently wearing her hair in braids on-air. Briana Collins, who is African-American, has been in the news industry for almost four years, most recently as an evening anchor at Fox Champaign, Ill. While she has always wanted to wear braids on TV, she didnt think it was an option because bosses at previous jobs didnt allow it. But Collins decided to take a chance and ask her new team if it was something she could do. I honestly wanted to wear my hair in braids to try something different. I was tired of doing my hair everyday and its just easier to maintain the weaves I was previously wearing, she tells Yahoo Lifestyle. Fox Champaign has been 100 percent supportive of my choice. And it feels great to have management that approves of your choice to be different. The anchor was inspired by another reporter, AJ Walker , an investigative news reporter based in West Palm Beach, Fla. She posted a photo of her braids a few months ago and I loved them. I thought, if she was able to wear them on air, then I might be able to, too, she says. She was definitely my inspiration and I give her credit for stepping out of the box before me. According to Collins, wearing straight hair onscreen has always been the industry standard, and anything else is deemed different and unprofessional. Its just the way things have always been done in news. I cant remember seeing anyone of any color with curly hair [when I was] growing up watching the news, Collins says. A lot of things change in the news industry but a certain look is one thing that has stuck around for a while. Collins says that this standard doesnt make sense, and whether hair is curly or straight, in locks or natural or in braids shouldnt be a consideration. That industry standard makes no sense to me, she tells Yahoo Lifestyle. I think the focus should be more directed on a journalists ability to tell a fair and balanced story than whats on their head. The anchor posted photos of her braids on Facebook, and says she has since had many women reach out to her with stories about them being criticized for their brads, or fearing they wouldnt get a job if they didnt take their braids out. However, Collins has one piece of advice for all of them: Be yourself, the world will adjust. She added that she wants women who feel like theyre being discriminated against to speak up. Go through the proper channels and dont feel like you dont have options to take action against those who may have wronged you, she says. Story continues The public showed its support on her Facebook post, commenting about her professionalism and the importance of progressive thinking. Your professionalism and being centered is elevating you. It showed back here. Undeniably, one person wrote. I was just thinking about this the other day. It struck me that most black women in the news have straight hair and I was betting that wasn't a coincidence. You look great and I'm glad you found a good employer that's capable of progressive thinking, another added. Read more from Yahoo Lifestyle: Kids dress up as inflatable dinosaur and unicorn to help realtor mom sell house: 'Busiest open house I've ever had' This chic summer accessory will make you look like you 'put a lot of thought into your outfit Reporter celebrates wearing braids for the first time on-air: 'We are still professionals even if our hair is different' Follow us on Instagram , Facebook and Twitter for nonstop inspiration delivered fresh to your feed, every day. View comments
Craig Kimbrel ready for Chicago Cubs debut After four tune-up appearances in the minor leagues, Craig Kimbrel is ready to make his Chicago Cubs debut. Kimbrel, a seven-time All-Star, was called up from Triple-A Iowa on Thursday and could be called upon to pitch in the Cubs’ series finale against the Atlanta Braves at Wrigley Field. The #Cubs today recalled RHP Craig Kimbrel from @IowaCubs . RHP Tony Barnette has been optioned to Triple-A. (📸 @dylan_heuer ) pic.twitter.com/Yt8oqBudk0 — Chicago Cubs (@Cubs) June 27, 2019 In a free agency that extended two months into the season, Kimbrel, a 31-year-old righty with 333 career saves, signed a three-year, $43 million deal with Chicago on June 7. Because he signed so late, Kimbrel spent the last three weeks reacclimating to facing live batters, first in extended spring training and then in the minor leagues. Kimbrel made four appearances for Iowa, giving up one run and two hits in 3 ⅔ innings overall. In his most recent appearance, Kimbrel tossed a 1-2-3 ninth inning on Tuesday night. It is unclear if Kimbrel, who had 42 saves for the World Series champion Boston Red Sox in 2018, will immediately be thrust into the closer’s role by Cubs manager Joe Maddon. After signing with the Chicago Cubs earlier this month, pitcher Craig Kimbrel has been called up. (Jose M. Osorio/Chicago Tribune/TNS via Getty Images) Maddon has turned to Pedro Strop and Steve Cishek in the ninth-inning role throughout the year. Strop leads the team with nine saves while Cishek has pitched in seven. Brandon Morrow, who led the team with 22 saves last year, is on the injured list after having elbow surgery. The Cubs are currently 43-37 on the year and hold a one-game lead in the NL Central standings. They will look to avoid being swept by Atlanta later Thursday. Story continues More from Yahoo Sports: USWNT needs Alex Morgan to step up vs. France Report: Celtics are the favorite to land Walker Sources: Hill meets with NFL over child abuse charges Heath not a fan of European women’s soccer: ‘Boring’
Is Cantel Medical Corp. (NYSE:CMD) A Financially Strong Company? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Cantel Medical Corp. (NYSE:CMD), with a market cap of US$3.2b, are often out of the spotlight. However, history shows that overlooked mid-cap companies have performed better on a risk-adjusted manner than the smaller and larger segment of the market. CMD’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. Don’t forget that this is a general and concentrated examination of Cantel Medical's financial health, so you should conduct further analysisinto CMD here. View our latest analysis for Cantel Medical CMD's debt levels surged from US$169m to US$233m over the last 12 months – this includes long-term debt. With this rise in debt, CMD's cash and short-term investments stands at US$51m , ready to be used for running the business. On top of this, CMD has produced cash from operations of US$84m during the same period of time, resulting in an operating cash to total debt ratio of 36%, indicating that CMD’s operating cash is sufficient to cover its debt. At the current liabilities level of US$151m, the company has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 2.33x. The current ratio is calculated by dividing current assets by current liabilities. For Medical Equipment companies, this ratio is within a sensible range since there is a bit of a cash buffer without leaving too much capital in a low-return environment. CMD’s level of debt is appropriate relative to its total equity, at 36%. CMD is not taking on too much debt commitment, which can be restrictive and risky for equity-holders. We can test if CMD’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 CMD, the ratio of 14.62x suggests that interest is comfortably covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback. CMD’s debt level is appropriate for a company its size, and it is also able to generate sufficient cash flow coverage, meaning it has been able to put its debt in good use. In addition to this, the company exhibits an ability to meet its near term obligations should an adverse event occur. I admit this is a fairly basic analysis for CMD's financial health. Other important fundamentals need to be considered alongside. You should continue to research Cantel Medical to get a more holistic view of the stock by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for CMD’s future growth? Take a look at ourfree research report of analyst consensusfor CMD’s outlook. 2. Valuation: What is CMD 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 CMD 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.
Worthington Industries Inc (WOR) Q4 2019 Earnings Call Transcript Image source: The Motley Fool. Worthington Industries Inc(NYSE: WOR)Q4 2019 Earnings CallJun 27, 2019,10:30 a.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Good morning, and welcome to the Worthington Industries Fourth Quarter Fiscal 2019 Earnings Conference Call. All participants will be able to listen-only until the question-and-answer session of the call. This conference is being recorded at the request of Worthington Industries. If anyone objects, you may disconnect at this time. I'd like to introduce Marcus Rogier. Mr. Rogier, you may begin. Marcus A. Rogier--Investor Relations Officer & Treasurer Thank you, Justin. Good morning, and welcome to our fourth quarter and fiscal year end earnings call. Before we begin, I'd like to remind everyone that certain statements made today are forward-looking within the meaning of the 1995 Private Securities Litigation Reform Act. These statements are subject to risk and uncertainties and could cause actual results to differ from those suggested. We issued our earnings release yesterday after the market close. Please refer to it for more details on those factors that could cause the actual results to differ materially. This call is being recorded and will be made available later today on our worthingtonindustries.com website. On our call today are Chairman and CEO, John McConnell; President, Andy Rose; and Vice President and CFO, Joe Hayek. John has some opening comments. John P. McConnell--Chairman and Chief Executive Officer Thank you, Marcus, and thank all of you for joining us today. Our fourth quarter was strong, capping off the year of resetting the table, both in terms of our assets and our management team. We're excited about our position and our ability to drive future results. I'll turn the call over to Joe now. Joseph B. Hayek--Vice President & Chief Financial Officer Thank you, John, and good morning, everybody. In Q4 , we generated earnings of $0.66 per share versus $0.50 in the prior year period. There were a couple of unique items this quarter that included estimated inventory holding losses of $8.4 million or $0.11 per share in the current quarter compared to a gain of $18.3 million or $0.19 per share in Q4 of last year and roughly $8.5 million or $0.11 per share of impairment and restructuring charges related to our exiting the fuel systems business and writing down the value of our Chinese steel joint venture and certain laser welding assets in our majority owned WSP joint venture. This compares to impairment charges of $52.9 million or $0.45 a share in Q4 of last year. In addition, earlier this week, we reached an agreement subject to closing conditions to sell our cryogenics operations in Turkey. The closing of that transaction will not have a material impact on our financials, but our exits from these lines of business reflect a continuation of our strategy to exit these businesses and value streams that we deemed non-core while focusing our efforts on investing in and profitably growing our business overall. For the fiscal year, we generated earnings of $2.61 per share versus $3.09 last year. There were also two unique items in the full year to call out as follows: we estimated inventory holding losses were $4.4 million or $0.06 per share in the current year compared to a gain of $17.8 million or $0.18 per share in the prior year. And net earnings in the current year were adversely affected by $13 million or $0.17 per share due to a composite tank replacement program we initiated in Q3 within Pressure Cylinders. Turning back to quarterly results. Consolidated net sales decreased by 8% to $939 million in Q4 from the prior year quarter, due to lower direct shipments in Steel Processing and lower overall volumes in Pressure Cylinders, partially offset by higher average selling prices. Gross profit declined in the quarter by $37 million from Q4 last year to $126 million, driven primarily by lower direct volumes and the unfavorable impact of current quarter inventory holding losses versus prior year holding gains. Effective annual tax rate came in at 22% for the current year versus 4% in the prior year. In Pressure Cylinders, net sales were down 5%, however, excluding the impact of divestitures sales were up slightly over Q4 of last year, as higher average selling prices across our businesses coupled with improved volume and mix in the oil and gas business, more than offset lower volumes in the consumer and industrial products businesses. Excluding impairment and restructuring activity cylinders operating income was up from last year and operating margins increased quarter-over-quarter. We're pleased with our progress related to margin improvements with cylinders, as those initiatives were impactful during the quarter. In Steel Processing, net sales of $584 million were down 10% from Q4 of 2018, due primarily to lower direct volumes. Total ship tons were down 9.5% with direct shipments declining 15.1% and toll declining 1.5%. DIrect tons were 55% in mix compared to 59% in the prior year quarter. Volumes for the quarter were down significantly over the prior year due to unique market conditions in both periods. Last year in Q4 Section 232 Steel Tariffs had recently been announced and steel prices were rising rapidly, which we believe led customers to build inventories. Conversely, in the last few quarters steel prices had been falling. We believe many of our customers have been destocking and holding low levels of inventory. In addition, in the current quarter we did experience softness in automotive volumes due to the reduced North American auto builds year-over-year. Operating income for Steel Processing of $15 million was down $33 million from Q4 last year, driven by a negative swing of almost $27 million in inventory holding gains and losses, $3 million of impairment charges and lower direct volumes. While we currently estimate that due to further decline in steel prices, we will have the inventory holding losses in Q1 of 2020, we believe that our competitive position in the steel price-to-market has never been stronger. We are investing for growth and are focused on improving margins, while we partner with and deliver innovative solutions to our customers. In engineered Cabs', net sales were up 18% over Q4 of 2018, driven by higher volumes and average selling prices. As reporting operating -- reported operating loss of $3.2 million was a $2.1 million sequential improvement, sorry $2.1 million improvement over the prior year and a $600,000 improvement sequentially. Equity income from our joint ventures during the quarter was down $14.5 million driven by lower contributions across the portfolio. Clark Dietrich was down $3 million primarily due to decreased spreads as a results of declining steel prices. Equity income from WAVE was also down $2 million due to lower volumes, the WAVE's margins did increase year-over-year. In addition, our equity income was negatively impacted by a $4 million charge we took to write down the value of our $8 million investment in our Chinese Steel Strip joint venture. We received $29 million in dividends from our unconsolidated JVs during the quarter and we believe those business are executing on sound strategies that will lead to improve performance moving forward. Turning to the cash flow statement and the balance sheet. Cash flow from operations was $71 million in the quarter. We spent $10 million on an acquisition, $24 million on capital projects, paid $13 million in dividends and paid $39 million to repurchase 1 million shares of our common stock. Yesterday, the Board declared a $0.24 per share dividend for the quarter, which is a $0.01 per quarter increase which is payable on September of 2019. This marks the ninth consecutive year we have increased our dividend. Funded debt at quarter end was flat sequentially at $749 million. Interest expense of $9 million was down slightly from the prior year quarter, and we ended the quarter with consolidated cash of $92 million and $548 million available under our revolving credit facilities. Our adjusted EBITDA over the last 12 months, which includes the $13 million charge for the tank replacement program was $330 million and our net debt to trailing EBITDA leverage ratio is roughly 2 times. At this point, I will turn it over to Andy. Andy Rose--President Thanks, Joe. Good morning everyone. Fiscal 2019 was a challenging year for us, primarily driven by the steel tariffs enacted in early 2018. Rather than dwell on things we cannot control, we use the time to position ourselves for the future on a number of fronts. As a result of these efforts, we finished the fiscal year with a solid quarter, and a lot of enthusiasm for where we are headed. We have a lot to be excited about our Worthington. Our strategic planning process has been completed and there are a number of initiatives that are delivering value today and we'll continue to do so for years to come. First, our transformation playbook has been refocused into a business system that combines standard metrics and performance management, lean tools for optimizing value streams and agile teams to attack big opportunities. We have multiple innovation teams that have developed meaningful pipelines of new products that are beginning to launch in the marketplace. We believe that our ability to differentiate with new products in new services will create meaningful separation for us from our competitors and deliver results to the bottom line. And while the M&A market remains expensive. We have increased the size and experience level of our team here so that we are ready when the right opportunities arrives. We continue to generate strong cash flow and used a portion to purchase another million shares of our stock this quarter at attractive levels. We're also taking the opportunity to clean up our underperforming assets, several of those moves resulted in small impairments this quarter, and we will continue this effort until all of our businesses meet our goals for EBITDA growth and return on capital. We have used this year well to reposition Worthington Industries for growth. We have a number of talented leaders in new roles adding fresh ideas to our business strategies, and the best workforce enabling our success. We are on the right path to achieving new levels of performance. Thank you for your continued support at Worthington. Marcus A. Rogier--Investor Relations Officer & Treasurer At this point, we'll turn it back over to the operator to open the line for questions. Operator Thank you. (Operator Instructions) In first up in queue, looks like we have the line of Martin Englert of Jefferies. Your line is open. Martin Englert--Jefferies -- Analyst Hi, good morning everyone. John P. McConnell--Chairman and Chief Executive Officer Good morning. Martin Englert--Jefferies -- Analyst In the fiscal 1Q, can you discuss the possible magnitude of the inventory holding losses that you'd expect in Steel Processing? Joseph B. Hayek--Vice President & Chief Financial Officer Yes. Other than to say that we do expect them and we don't think it will be materially different than it was in Q4, the swing is really going to be the challenge and that we had roughly $14 million of gain in Q1 of fiscal '19. Prices went down another $40 yesterday, we're not steel price prognosticators, but folks have suggested that $500 may be near the bottom, we'll see. Martin Englert--Jefferies -- Analyst Okay. Thanks for that color there. And then just looking at cylinders, volumes specifically consumer products, so it was a little bit weaker than maybe I had anticipated here. Looking at the sequential move, can you just discuss some of the demand trends that you're seeing maybe in the fiscal 1Q here? And the cadence of activity? John P. McConnell--Chairman and Chief Executive Officer Yes. I mean cylinders there's obviously a lot going on in those volume numbers, the biggest driver there of the swings is typically the consumer product side, the 16 ounce camping cylinder et cetera, and so I think when you get a little bit of softness in that marketplace that drops the volumes. But I would say overall, most of the end markets there are doing reasonably well with a few exceptions, so we don't have a whole lot of concern there. Martin Englert--Jefferies -- Analyst Okay. And would you be able to highlight the markets that were may be lagging or contracting a little bit within consumer? John P. McConnell--Chairman and Chief Executive Officer A few of our industrial gas markets, a little bit soft. The other thing that Joe touched on is when you have declining steel prices folks that are buying on the spot market will delay their purchases, hoping to obviously get lower prices as a result of that. So we get a little bit of that in cylinders as well. Martin Englert--Jefferies -- Analyst And you had some successful price initiatives, if I recall, from the prior quarter that were flowing through in this quarter. Can you talk about the sustainability there? John P. McConnell--Chairman and Chief Executive Officer Yes. I, you know, there is pretty good momentum there. The transformation effort overall and cylinders is really starting to mature and gain momentum, and one of the big components of that is as we put pricing desks in place and we'd be become much more sophisticated in terms of our strategies there. So, I think what we're doing there is sustainable and hopefully good things to come in the future there. Martin Englert--Jefferies -- Analyst Okay. Thanks for all that details. If I could one last one on some modeling items, CapEx budget for the year in tax rate. Joseph B. Hayek--Vice President & Chief Financial Officer Not really comfortable out of disclosing that. I don't think CapEx will be materially different than it's been historically. I don't anticipate significant changes in the tax rate either, but nothing more specific than that. I apologize. Martin Englert--Jefferies -- Analyst Okay. No worries. Thanks for all the detail there and congratulations on the results in light of the fundamental headwinds. Joseph B. Hayek--Vice President & Chief Financial Officer Thanks very much. Operator Next in queue is the line of John Tumazos of John Tumazos Independent. Thank you. Your line is open. John Tumazos--John Tumazos Very Independent Research -- Analyst Sorry, it's John Tumazos or something like that. How are you doing today? John P. McConnell--Chairman and Chief Executive Officer Good John. How are you? John Tumazos--John Tumazos Very Independent Research -- Analyst Good, good. Tell me a little bit about the cryogenic sale. Are you selling the plant to somebody that's going to compete with your other cryogenics tank operations? John P. McConnell--Chairman and Chief Executive Officer We are not. Fundamentally when we invested in that business a number of years ago, things were different. We were at $100 and $110 a barrel of oil and I think the outlook for that business was different. I also think Turkey obviously what's going on there has made it difficult to operate. So, we will continue our operations here in the US. And what they did there in Turkey to be honest John, some niche markets and products that really aren't directly competing with what we're doing here in the US. John Tumazos--John Tumazos Very Independent Research -- Analyst But you're still selling cryogenic cylinders -- tanks. John P. McConnell--Chairman and Chief Executive Officer That is correct, yes. John Tumazos--John Tumazos Very Independent Research -- Analyst And the new owner is going to do it. John P. McConnell--Chairman and Chief Executive Officer The new owner. I'm not sure I'm following... Joseph B. Hayek--Vice President & Chief Financial Officer Yes, John. It's Joe. That business is very unique relative to other businesses as other geographies. So there won't be any competitive pressure. John Tumazos--John Tumazos Very Independent Research -- Analyst Since you've got is much money just dismantling the plant and selling, specialty steel it's high value scrap? John P. McConnell--Chairman and Chief Executive Officer We believe this is the best outcome for us and everybody involved. John Tumazos--John Tumazos Very Independent Research -- Analyst I hope that your discount rate in non-US transactions is at least 5 times as much as your discount rate, in US transactions? John P. McConnell--Chairman and Chief Executive Officer We certainly appreciate that and I would... John Tumazos--John Tumazos Very Independent Research -- Analyst Let me continue. They play a game called jerk around the foreigner where, just as an example, Normandy had a gold mine near Izmir and the Australian company couldn't use cyanide but the Turk could buy as for (ph) chump change, could use cyanide. And you're also riding down your deal in China. Whenever Iike Freeport has trouble in Indonesia, I route for them to dynamite the plant. And then they earn more in Arizona. But it's just -- it's just you could jerk around a lot less in Columbus, Ohio than you do overseas. I'm a shareholder and I love you. John P. McConnell--Chairman and Chief Executive Officer Thank you, John. Operator (Operator Instructions) Next, we have the line of Phil Gibbs of KeyBanc Capital Markets. Your line is open. Phil Gibbs--KeyBanc Capital Markets -- Analyst That was super interesting, that last five minutes. My question is really on WAVE, to start. I think you said that volumes were a bit weak in the quarter versus last year. Just any visibility you guys have to order trends or seasonality. How do we think that that business bridges into the next quarter? Joseph B. Hayek--Vice President & Chief Financial Officer Sure, Phil, it's Joe. Last year during Q4, WAVE had announced a price increase that took effect in June, and so we would believe that people bought ahead of that price increase. And so we had a little bit of lumpiness and probably some of Q1 last year got brought into Q4, that market is in growing by default very rapidly. They have a number of initiatives on the new product front that are smaller pieces of their base today, but growing much more rapidly than the core grid market, but we don't worry about WAVE's volumes moving forward. Phil Gibbs--KeyBanc Capital Markets -- Analyst Okay, nice. Andy I think you commented on M&A multiples. Any signs that were moving more toward -- a little bit toward normalcy? Or is this recent move higher in the -- on the stock market given everybody pumped out just again in holding their ground? Andy Rose--President Yes. I would say it's steady as she goes, Phil. I mean the market is pretty good. The financing markets are readily available and so I think there is plenty of buyers out there. So I think that's supporting a pretty strong multiple environment. It doesn't mean, we're not looking and we aren't seeing things we like. It's just we spent last year really refocusing ourselves cleaning up our core operations and I think now where Joe has done a nice job of really building some more expertise on his team and I would say we're kind of ready to go now, and that being said, we're going to continue to be price sensitive to a certain degree. We're not going to go crazy, because a lot of companies are at or near peak earnings, and we're at or near peak multiples. So when you do that you better be the best buyer and you better have a lot of synergies, and if not, then you might be better served to saving your dollars for a little bit better environment. Phil Gibbs--KeyBanc Capital Markets -- Analyst That makes sense. I think, I had one more question. One was on the oil and gas side for cylinders. Volumes picked up a bit, I think relative to what we were expecting, which is a good sign. Any color in terms of how that business looks moving forward? And whether or not you all were EBIT -- EBIT positive in the quarter. Joseph B. Hayek--Vice President & Chief Financial Officer Yes. Run rate at the end of the quarter was very good and trending in that direction, Phil, and they have -- it's a smaller business as you know, $100 million or so for us, but in their markets a fair amount of momentum still going to be subject to fluctuations in oil prices, but lots of good momentum in some innovation that they have brought to the market. So we feel reasonably good about certainly the next few quarters for them on a year-over-year basis. Phil Gibbs--KeyBanc Capital Markets -- Analyst And when were you all profitable in the quarter, on an... John P. McConnell--Chairman and Chief Executive Officer I mean it depends on allocations everything else, but the last couple of months. Phil Gibbs--KeyBanc Capital Markets -- Analyst Okay. Thanks so much. Operator (Operator Instructions) At this time we have no one queuing by phone for us. John P. McConnell--Chairman and Chief Executive Officer Okay. Thank you very much again for joining us today. Again, we're very pleased with the team we have in place and our look at our future results coming forward. So, looking forward to seeing you at the end of the first quarter. Thanks. Operator Ladies and gentlemen, that does conclude the presentation for this morning. We thank you very much for all of your participation and using our Executive Teleconference Service. You may now disconnect. Duration: 21 minutes Marcus A. Rogier--Investor Relations Officer & Treasurer John P. McConnell--Chairman and Chief Executive Officer Joseph B. Hayek--Vice President & Chief Financial Officer Andy Rose--President Martin Englert--Jefferies -- Analyst John Tumazos--John Tumazos Very Independent Research -- Analyst Phil Gibbs--KeyBanc Capital Markets -- Analyst More WOR analysis All earnings call transcripts 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 article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see ourTerms and Conditionsfor additional details, including our Obligatory Capitalized Disclaimers of Liability. Motley Fool Transcribershas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
All You Need To Know About Cantel Medical Corp.'s (NYSE:CMD) Financial Health 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 Cantel Medical Corp. (NYSE:CMD) with a market-capitalization of US$3.2b, rarely draw their attention. However, generally ignored mid-caps have historically delivered better risk-adjusted returns than the two other categories of stocks. CMD’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 CMD here. Check out our latest analysis for Cantel Medical CMD's debt levels surged from US$169m to US$233m over the last 12 months , which includes long-term debt. With this growth in debt, CMD currently has US$51m remaining in cash and short-term investments , ready to be used for running the business. Moreover, CMD has generated cash from operations of US$84m during the same period of time, resulting in an operating cash to total debt ratio of 36%, signalling that CMD’s operating cash is sufficient to cover its debt. At the current liabilities level of US$151m, it appears that the company has been able to meet these commitments with a current assets level of US$353m, leading to a 2.33x current account ratio. The current ratio is the number you get when you divide current assets by current liabilities. Usually, for Medical Equipment companies, this is a suitable ratio since there's a sufficient cash cushion without leaving too much capital idle or in low-earning investments. With a debt-to-equity ratio of 36%, CMD's debt level may be seen as prudent. This range is considered safe as CMD is not taking on too much debt obligation, which may be constraining for future growth. We can test if CMD’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 CMD, the ratio of 14.62x suggests that interest is comfortably covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback. CMD’s debt level is appropriate for a company its size, and it is also able to generate sufficient cash flow coverage, meaning it has been able to put its debt in good use. In addition to this, the company will be able to pay all of its upcoming liabilities from its current short-term assets. This is only a rough assessment of financial health, and I'm sure CMD has company-specific issues impacting its capital structure decisions. I suggest you continue to research Cantel Medical to get a more holistic view of the stock by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for CMD’s future growth? Take a look at ourfree research report of analyst consensusfor CMD’s outlook. 2. Valuation: What is CMD 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 CMD 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.
A $1,800 Drop in Minutes: Bitcoin Volatility on Full Display (Bloomberg) -- This week’s jump in Bitcoin prices revived themes well known to the digital currency that inflated then burst less than two years ago. Among them: enormous volatility, and exchange overloads. Bitcoin soared as much as 39% this week to $13,852, the highest since January 2018. But it hit a brick wall around 4:30 p.m. New York time Wednesday, plunging more than $1,800 within about 10 minutes. Moments later, prominent cryptocurrency exchange Coinbase Inc. reported an outage on its consumer site, which was resolved in under an hour. Swings continued Thursday, with the coin anywhere from down 15% to up 4.8%. It was down 15% to $11,111 as of 12:23 p.m. in New York. Volatility in Bitcoin is near the highest levels since early 2018, when the bubble was bursting. Analysts said this was likely a sign of things to come. “A 20%-30% pullback would not be surprising and very consistent with Bitcoin’s recent bull-market pullbacks,” Robert Sluymer, technical strategist at Fundstrat Global Advisors, wrote in a research note. New Projects The most widely traded digital currency has rebounded after a slump lasting more than a year as major multinational corporations announce new projects in the industry. Facebook Inc. unveiled plans for a so-called stablecoin called Libra to launch next year. PricewaterhouseCoopers LLP said on Wednesday it had added cryptocurrency auditing to its services. And JPMorgan Chase & Co. said it is seeing interest from clients in a prototype digital coin to speed up trading of securities such as bonds. “Regardless of how successful Libra will be, the one thing that it’s been successful in doing is bringing attention back to Bitcoin,” said Zennon Kapron, managing director of financial technology consulting firm Kapronasia and author of a book on Bitcoin in China. Equities are getting in on the act, as well. Some stocks that had been popular proxy bets on the Bitcoin boom in 2017 rallied again this week, with Nvidia Corp, a maker of the graphics processing units popular among miners, advancing 4.9% since the start of the week. Riot Blockchain Inc, which changed its name to capitalize on the interest in distributed ledger technologies, rose 38% during the same period. Some cryptocurrency-linked stocks in Asian markets also made gains. Richard Ross, head of technical analysis at Evercore ISI, said if Bitcoin could break through its current resistance level at $14,100, its next resistance is around $17,400. He attributed the recent gains to dovish signals from global central banks. “The ‘problem’ with Bitcoin is not Bitcoin itself, but rather the backdrop which has given rise to this incendiary second act” -- more monetary easing and bonds with negative yields, he said. Read about how Bitcoin’s rally feels like 2017 but isn’t quite the same. (Clarifies outage details in the second paragraph. An earlier update corrected a time reference in the second paragraph.) --With assistance from David Scheer. To contact the reporters on this story: Gregor Stuart Hunter in Hong Kong at ghunter21@bloomberg.net;Olga Kharif in Portland at okharif@bloomberg.net To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger, Dave Liedtka For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
Decreasing MLP Leverage a Plus for This Midstream ETF This article was originally published onETFTrends.com. TheAlerian Energy Infrastructure ETF (ENFR) is outpacing the largest traditional energy exchange traded funds in significant fashion this year. Plus, the midstream-heavy ENFR yields over 5%. However, there are some other advantages to consider with this master limited partnership (MLP) fund. ENFR acts as a type of hybrid energy infrastructure ETF, which could help investors capture some of the high yields from MLPs but limits the tax hit from solely owning MLPs. Importantly, many midstream MLPs and energy infrastructure companies are working to deleverage their balance sheets. “After becoming overextended during the oil price downturn from 2014-2016, midstream companies have placed greater emphasis on reducing leverage to a more comfortable and sustainable level,”according to new research from Alerian. “Lower leverage provides increased flexibility to withstand challenging market environments and lays the foundation for companies being able to grow their dividend or buy back shares.” ENFR A Win For Investors MLPs earn money by transporting energy or storing the products. Since revenue is based on volume, MLPs may be less sensitive to crude prices. Consequently, MLPs have historically shown a weaker correlation to energy prices over longer periods as MLPs act more like energy toll roads, profiting on the volume of oil moving through their pipelines. MLPs, including some ENFR components, are increasingly focusing on tidying up their balance sheets and investors win that scenario. “With lessons learned from the oil downturn, management teams have reprioritized financial flexibility and balance sheet strength. Institutional investors (including generalists) are also increasingly focused on leverage,” according to Alerian. Leverage ratios impact credit ratings and the ability to sustain and grow distributions. “Furthermore, leverage ratios are an important determinant in credit ratings, which impacts cost of debt and project returns. It is important to note that ratings agencies and banks may have their own approach to calculating leverage,” notes Alerian. For more information on master limited partnerships, visit ourMLPs category. 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 >
Is TG Therapeutics, Inc.'s (NASDAQ:TGTX) Balance Sheet Strong Enough To Weather A Storm? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! While small-cap stocks, such as TG Therapeutics, Inc. (NASDAQ:TGTX) with its market cap of US$595m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. Since TGTX is loss-making right now, it’s essential to assess the current state of its operations and pathway to profitability. We'll look at some basic checks that can form a snapshot the company’s financial strength. However, this is not a comprehensive overview, so I suggest youdig deeper yourself into TGTX here. TGTX's debt levels surged from US$224k to US$38m over the last 12 months , which accounts for long term debt. With this increase in debt, TGTX currently has US$92m remaining in cash and short-term investments , ready to be used for running the business. We note it produced negative cash flow over the last twelve months. For this article’s sake, I won’t be looking at this today, but you can examine some of TGTX’soperating efficiency ratios such as ROA here. At the current liabilities level of US$61m, it appears that the company has been able to meet these commitments with a current assets level of US$105m, leading to a 1.72x current account ratio. The current ratio is calculated by dividing current assets by current liabilities. For Biotechs companies, this ratio is within a sensible range as there's enough of a cash buffer without holding too much capital in low return investments. Since total debt levels exceed equity, TGTX is a highly leveraged company. This is somewhat unusual for small-caps companies, since lenders are often hesitant to provide attractive interest rates to less-established businesses. However, since TGTX is currently loss-making, sustainability of its current state of operations becomes a concern. Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate. Although TGTX’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised. This may mean this is an optimal capital structure for the business, given that it is also meeting its short-term commitment. This is only a rough assessment of financial health, and I'm sure TGTX has company-specific issues impacting its capital structure decisions. I recommend you continue to research TG Therapeutics to get a better picture of the small-cap by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for TGTX’s future growth? Take a look at ourfree research report of analyst consensusfor TGTX’s outlook. 2. Valuation: What is TGTX 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 TGTX 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.
US long-term mortgage rates fall; 30-year loan at 3.73% WASHINGTON (AP) â€” U.S. long-term mortgage rates fell this week. It was the seventh decline in the past nine weeks for the key 30-year, fixed-rate loan, which reached its lowest level since November 2016. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year mortgage fell to 3.73% from 3.84% last week. By contrast, a year ago the rate stood at 4.55%. The average rate for 15-year, fixed-rate home loans slipped this week to 3.16% from 3.25%. The historically low levels marked by mortgage rates in this spring's homebuying season have brought a surge in interest by prospective buyers and homeowners looking to refinance. Total mortgage applications rose 1.3% in the week ended June 21 from a week earlier, while refinance applications increased 3%, according to the Mortgage Bankers Association. More Americans signed contracts to buy homes last month compared with April, the National Association of Realtors reported Thursday, a sign that buyers may be ready to take advantage of low mortgage rates and stabilizing home prices. Even with the 30-year average mortgage rate below 4%, home sales slowed in the first five months of the year. Freddie Mac surveys lenders across the country between Monday and Wednesday each week to compile its mortgage rate figures. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. The average fee on 30-year fixed-rate mortgages was unchanged this week at 0.5 point. The average fee for the 15-year mortgage rose to 0.5 point from 0.4 point. The average rate for five-year adjustable-rate mortgages fell to 3.39% from 3.48% last week. The fee held steady at 0.4 point.
Does Tyler C. Win ‘The Bachelorette’? Here’s Why We Think So… Only seven contestants remain on Hannah Brown’s season of The Bachelorette . While there’s still a good chance that Luke Parker will leave in the forthcoming episodes ( crosses fingers ), we’re starting to notice that an all-new front-runner is emerging: Tyler Cameron. Keep reading for all the evidence hinting that Tyler C. wins season 15 of The Bachelorette . 1. He listens In episode four of the popular dating series, Hannah invited Tyler on a one-on-one date, even though she was still distraught about the group date. (You know, when Luke S. and Luke P. went head-to-head.) The Bachelorette was upfront with Tyler, telling him that she wasn’t in the best mood. Just then, Tyler proved he’s husband material and dove into a speech about how he’ll always be there for her, no matter what. “I want you in your highs, and I want you in your lows,” he said. 2. He's here for Hannah Luke P. has pulled just about every contestant into the drama during this season. Not only has Tyler managed to steer clear of every fight, but he’s also lifted up Brown when she’s feeling down—something she holds close to her heart. 3. He seems A-OK on social media Since The Bachelorette has already finished filming, Tyler likely knows the winner. Still, the general contractor has nothing but good things to say about Brown on social media. “I’ll always accept a rose from you @alabamahannah,” he wrote in a caption . “One step closer to your heart.” 4. He's just…there If we’ve learned anything from past seasons, it’s that if a contestant gets a lot of screen time, it’s probably not a good thing. This is why a lot of winners—like Garrett Yrigoyen, Bryan Abasolo and Jordan Rodgers—sneak up on viewers because they’re rarely shown, despite the fact that they’re spending just as much quality time with the Bachelorette. Story continues So, don’t mistake Tyler’s lack of screen time for anything other than beneficial. 5. He was originally pegged to win Before season 15 aired on ABC, Reality Steve initially reported that Tyler is the last man standing. Although the blogger has since changed his prediction to Jed , we’d be stupid if we didn’t at least consider his original guess…right? The Bachelorette airs on Mondays at 8 p.m. on ABC. RELATED: Exclusive: ‘Bachelor’ Alum Bekah Martinez Has Some Thoughts About This Season of ‘The Bachelorette’
Here's Why I Think Commercial Metals (NYSE:CMC) Might Deserve Your Attention Today 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. So if you're like me, you might be more interested in profitable, growing companies, likeCommercial Metals(NYSE:CMC). Even if the shares are fully valued today, most capitalists would recognize its profits as the demonstration of steady value generation. In comparison, loss making companies act like a sponge for capital - but unlike such a sponge they do not always produce something when squeezed. Check out our latest analysis for Commercial Metals As one of my mentors once told me, share price follows earnings per share (EPS). That means EPS growth is considered a real positive by most successful long-term investors. It certainly is nice to see that Commercial Metals has managed to grow EPS by 24% per year over three years. As a general rule, we'd say that if a company can keep upthatsort of growth, shareholders will be smiling. 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). Commercial Metals maintained stable EBIT margins over the last year, all while growing revenue 27% to US$5.6b. That's progress. In the chart below, you can see how the company has grown earnings, and revenue, over time. For finer detail, click on the image. In investing, as in life, the future matters more than the past. So why not check out thisfreeinteractive visualization of Commercial Metals'sforecastprofits? Like standing at the lookout, surveying the horizon at sunrise, insider buying, for some investors, sparks joy. Because oftentimes, the purchase of stock is a sign that the buyer views it as undervalued. Of course, we can never be sure what insiders are thinking, we can only judge their actions. The good news for Commercial Metals shareholders is that no insiders reported selling shares in the last year. So it's definitely nice that Senior VP & CFO Mary Lindsey bought US$16k worth of shares at an average price of around US$15.92. The good news, alongside the insider buying, for Commercial Metals bulls is that insiders (collectively) have a meaningful investment in the stock. Indeed, they hold US$34m worth of its stock. That shows significant buy-in, and may indicate conviction in the business strategy. Despite being just 1.7% of the company, the value of that investment is enough to show insiders have plenty riding on the venture. For growth investors like me, Commercial Metals's raw rate of earnings growth is a beacon in the night. Better still, insiders own a large chunk of the company and one has even been buying more shares. So I do think this is one stock worth watching. If you think Commercial Metals might suit your style as an investor, you could go straight to its annual report, or you could first checkour discounted cash flow (DCF) valuation for the company. There are plenty of other companies that have insiders buying up shares. So if you like the sound of Commercial Metals, you'll probably love thisfreelist of growing companies that insiders are buying. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
The growing list of countries committing to a net-zero emissions goal After decades of work, scientists have finally agreed on a (relatively) simple answer to the climate crisis: Achieve net-zero greenhouse-gas emissions as soon as economically possible. The only thing that drives global warming is the total amount of heat-trapping gases in the atmosphere. (The net-zero part is that, in cases like air travel, we wont have the technology to stop emitting; in those cases, well need to build sinks to capture those emissions.) This simple message was amplified in 2015, after every country in the world signed the Paris climate agreement . Since then, many large and small countries have committed to adopting a net-zero emissions goal. The Ethiopian Airlines 737 Max crash could warrant historic punitive damages against Boeing Heres the running list of such countries, compiled by the Energy and Climate Intelligence Unit . We will update the list as more countries are added or their goal status changes. Country Target date Goal status Suriname Achieved Already carbon negative Bhutan Achieved Already carbon negative Norway 2030 In law Uruguay 2030 In policy document Finland 2035 In policy document Iceland 2040 In policy document Sweden 2045 In law UK 2050 In law France 2050 In law Spain 2050 Proposed legislation New Zealand 2050 Proposed legislation Germany 2050 Target under discussion Netherlands 2050 Target under discussion Ireland 2050 Target under discussion Denmark 2050 In policy document Chile 2050 In policy document Portugal 2050 In policy document Costa Rica 2050 In policy document Fiji 2050 In policy document Marshall Islands 2050 In policy document Notable absences on that list: The United States , Australia, and the Arab states of the Persian Gulf. Despite those missing commitments, some smaller economies within those countries and others have set themselves a net-zero emissions goal. At the state level, that group includes California , New York, and Hawaii in the US; and New South Wales, Victoria, and Queensland in Australia. At the city level, it includes New York City, Los Angeles, London, Paris, Washington DC, San Francisco, Seattle, Sydney, Boston, Stockholm, Barcelona, Copenhagen, Austin, Melbourne, Helsinki, Manchester, Oslo, Nottingham, Adelaide, Bristol, Heidelberg, and Reykjavik. Story continues The sum total of all these economies accounts for more than 17% of the global GDP. Theres still a long way to go to align 100% of global GDP with this goal, and committing to a goal does not mean countries or regions will achieve it. But its a stronger climate-mitigation stance than setting no goals at all. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds 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
Verizon 5G Service Expands to Two More Cities: Denver and Providence Verizonon Thursday announced its next two cities getting super-fast 5G mobile service, Denver and Providence, as the pace of the rollout of the new technology accelerates. Wireless subscribers in parts of Denver who buy a compatible 5G phone, such as the Samsung Galaxy S10 5G, can start using Verizon’s fastest system immediately, while those on the Providence area will get service on July 1, the carrier said. Verizon firstturned on its mobile 5G servicein parts of Minneapolis and Chicago in April. It’s aiming to offer 5G in at least 30 markets by year end. The announcement follows rival T-Mobile’sdebuting its first 5G mobile servicein parts of six cities this week, as the wireless industryraces to upgrade its networkswith the technology that speeds can reach download speeds 10 to 50 times faster than with current 4G LTE networks. As the number of new wireless customers levels off, the carriers are looking for more ways to woo switchers, like rewards programs and free video and music streaming services. Verizon offers freeAppleMusic subscriptions, for example. But over the next few years, as coverage improves, 5G could be the big draw. Last week,AT&Tunveiledits first 5G phone service for some businesses customers, but not for consumers. The service is online in “very limited” parts of 20 cities, and will be expanded to 30 or more cities by the end of the year. Meanwhile, Sprintintroducedits 5G service last month in Atlanta, Dallas, Houston, and Kansas City, with plans to add six more cities soon. Still, the 5G services can be hard to find even in the cities where carriers say they are online. In Denver, Verizon said 5G connections would be concentrated in areas of Highlands, South of 37th between Tejon and Navajo Streets. Other neighborhoods getting access included LoDo, around Coors Field, Capitol Hill, and northern sections of the Denver Tech Center, Verizon said. But unlike rival T-Mobile, Verizon has not provided typical coverage maps showing the extent of its 5G network in any city.
Overstock’s tZero Launches Mobile Crypto App Touted as Hack-Resistant tZero,United Statesretail giantOverstock’scryptosubsidiary, has launched a digitalwalletand exchange app for crypto, the company officially announced in atweeton June 27. The firm calls its newmobile crypto appahack-resistant solution fortradingand storing cryptocurrencies, tZero CEO Saum Noursalehi said in apress releasetoReuters. Noursalehi explained that the application will storeprivate keysdirectly on users’smartphones, which is expected to provide maximumsecurity, in contrast to “more vulnerable, third-party exchanges for custody.” Moreover, tZero’s private key recovery system will allow users to restore their funds in case if they lose their private keys or a mobile device, the press release notes. Initially supporting two major cryptocurrencies such as bitcoin (BTC) and ether (ETH), tZero hopes its crypto app will become the “foundation of trading all digital assets for tZero, whether it’s art, real estate, or private companies,” Noursalehi stated in the announcement. The news comes on the heels of tZero’sfunding roundof $5 million fromChineseinvestment firm GSR Capital in May. The investmentaccountedfor about 2% of the originally projected investment of $404 million from GSR Capital andSingaporeanprivate equity firm Makara Capital. Most recently, another Overstock’s subsidiary, Medici Land Governance,signeda memorandum of understanding with Liberia to help theAfricannation digitizegovernmentservices. • Coinbase Releases Key Findings on Crypto Awareness and Adoption in US • Former Visa Exec-Led Startup Ships Nearly 4,000 Crypto Cards in a Week • Huobi Expands to Turkey Where 20% of the Population Hold Crypto • SEC-Registered Clearing House Brings Crypto Trading to 5 Million Clients
What Does Theratechnologies Inc.'s (TSE:TH) Balance Sheet Tell Us About It? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Investors are always looking for growth in small-cap stocks like Theratechnologies Inc. (TSE:TH), with a market cap of CA$552m. However, an important fact which most ignore is: how financially healthy is the business? Given that TH is not presently profitable, it’s vital to understand the current state of its operations and pathway to profitability. We'll look at some basic checks that can form a snapshot the company’s financial strength. However, this is just a partial view of the stock, and I recommend youdig deeper yourself into TH here. TH has increased its debt level by about US$50m over the last 12 months – which includes long-term debt. With this increase in debt, TH currently has US$50m remaining in cash and short-term investments , ready to be used for running the business. Moreover, TH has produced cash from operations of US$2.3m in the last twelve months, resulting in an operating cash to total debt ratio of 4.6%, meaning that TH’s debt is not covered by operating cash. With current liabilities at US$29m, it appears that the company has been able to meet these obligations given the level of current assets of US$72m, with a current ratio of 2.46x. The current ratio is the number you get when you divide current assets by current liabilities. Generally, for Biotechs companies, this is a reasonable ratio since there is a bit of a cash buffer without leaving too much capital in a low-return environment. Since total debt levels exceed equity, TH is a highly leveraged company. This is a bit unusual for a small-cap stock, since they generally have a harder time borrowing than large more established companies. However, since TH is currently loss-making, sustainability of its current state of operations becomes a concern. Maintaining a high level of debt, while revenues are still below costs, can be dangerous as liquidity tends to dry up in unexpected downturns. Although TH’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised. This may mean this is an optimal capital structure for the business, given that it is also meeting its short-term commitment. I admit this is a fairly basic analysis for TH's financial health. Other important fundamentals need to be considered alongside. I recommend you continue to research Theratechnologies to get a more holistic view of the small-cap by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for TH’s future growth? Take a look at ourfree research report of analyst consensusfor TH’s outlook. 2. Valuation: What is TH 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 TH 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.
Why Herman Miller Stock Popped 16% What happened Shares of Herman Miller (NASDAQ: MLHR) stock are up 16.3% as of 11:45 a.m. EDT after the furniture maker eclipsed analyst estimates for its fourth and final quarter to fiscal year 2019. Expected to earn $0.77 per share on sales of $657.2 million in the quarter, Herman Miller instead reported $671 million in sales -- and a per-share profit of $0.78. Stacks of coins with an overlay of a stock chart trending up Image source: Getty Images. So what Now, a penny-a-share "earnings beat" may not sound like much, but consider how much better Herman Miller did this past quarter than in the year-ago Q4. Sales grew 9% year over year and set a new quarterly record for the company. Profit jumped 47% compared to the $0.53 per share Herman Miller earned a year ago. As a result, Herman Miller ended the year with sales up 8% ($2.6 billion) and profit up 27% ($2.70 per share for the year). Now what CEO Andi Owen commented that Herman Miller is enjoying "strong demand," with sales and earnings growth accelerating and new orders growing 7% in the quarter. Heading into fiscal Q1 2020, management predicts Herman Miller will grow sales to somewhere between $650 million and $670 million, and earn between $0.77 and $0.81 per share on these sales. Seeing as Wall Street is only looking for sales of $651 million, and $0.76 per share in profits, it looks like Herman Miller fully intends to "beat earnings" again. 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 Rich Smith 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 .
Constantine 2019 Field Program at Palmer Zinc-Copper-Silver-Gold Project, Southeast Alaska Vancouver, British Columbia--(Newsfile Corp. - June 27, 2019) - Constantine Metal Resources Ltd. (TSXV: CEM) (OTCQX: CNSNF) ("Constantine" or the "Company") is pleased to report that field work resumed in June for the 2019 summer season at the Palmer Zinc-Copper-Gold-Silver Project in Southeast Alaska ("Palmer" or the "Project"). Plans include a phased diamond drill program of up to 8,000 meters. The Company recently reported a positive Preliminary Economic Assessment ("PEA") for the Project with a post-tax NPV of US$266 million (see Company news release dated June 3, 2019).The PEA outlined the potential for a low capex, low operating cost, high margin underground mining operation with attractive environmental attributes. The Project is wholly-owned by the Constantine Mining LLC Joint Venture, of which Constantine owns a 51% interest. The PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Recent Project Advancements An updated mineral resource for the Palmer Deposit (South Wall Zone and RW Zone) was completed in Q3-2018 followed by a maiden Inferred resource for the AG Zone Deposit in Q4-2018. The combined total mineral resource of 4.68 million tonnes indicated at 10.2% zinc equivalent and 9.59 million tonnes inferred grading 8.9% zinc equivalent is shown in Table 1. Additional metallurgical testing also upgraded metal recoveries to 93% for zinc and 89% for copper and demonstrated commercial grade barite recovery. These results were used to support the aforementioned PEA, demonstrating the potential viability of the Project and the incremental value of discovering new mineral resources in close proximity to the proposed mine infrastructure. The planned 2019 exploration program is designed to expand on this resource base. "We are excited to build upon the very strong results of the recently completed PEA, with a focus on continuing our excellent record of discovery and resource growth at Palmer." commented President & CEO Garfield MacVeigh. "We are particularly excited about the chance to test new regional prospects. Meanwhile, the Company continues to prepare and ready the Project for advanced stage underground exploration." [["Deposit", "Cut-off", "ResourceCategory", "Tonnes(1,000s)", "Zn(%)", "Cu(%)", "Pb(%)", "Ag(g/t)", "Au(g/t)", "Barite(%)", "ZnEq(%)"], ["Palmer Deposit", "$75/t", "Indicated", "4,677", "5.23", "1.49", "-", "30.8", "0.30", "23.9", "10.21"], ["South Wall & RW", "NSR", "Inferred", "5,338", "5.20", "0.96", "-", "29.2", "0.28", "22.0", "8.74"], ["AG Zone Deposit", "5.0%ZnEq", "Inferred", "4,256", "4.64", "0.12", "0.96", "119.5", "0.53", "34.8", "9.04"], ["Total", "", "Indicated", "4,677", "5.23", "1.49", "-", "30.8", "0.30", "23.9", "10.21"], ["", "Inferred", "9,594", "4.95", "0.59", "0.43", "69.3", "0.39", "27.7", "8.87"]] Notes: 1. See news release dated December 18th, 2018 for Palmer Project resource estimate. 2. Net Smelter Return ("NSR") equals (US$16.01 x Zn% + US$48.67 x Cu% + US$23.45 x Au g/t + US$0.32 x Ag g/t). NSR formula is based on estimated metallurgical recoveries, assumed metal prices, and assumed offsite costs that include transportation of concentrate, smelter treatment charges, and refining charges. 3. ZnEq equals = ($66 x Cu% + $25.3 x Zn% + $22 x Pb% + $0.51 x Ag g/t + $40.19 x Au g/t) / 25.3. 4. Assumed metal prices for NSR and ZnEq formulas are US$3.00/lb for copper (Cu), US$1.15/lb for zinc (Zn), US$ $1.00/lb for lead, US$1250/oz for gold (Au), US$16/oz for silver (Ag). 5. Estimated metal recoveries for Palmer Deposit are 93.1% for zinc, 88.9% for copper, 90.9% for silver (70.8% to the Cu concentrate and.1% to the Zn concentrate) and 69.6% for gold (49.5% to the Cu concentrate and 20.1% to the Zn concentrate) as determined from metallurgical locked cycle flotation tests completed in 2018. No recovery data is available for AG Zone deposit. 6. Barite (BaSO4) not included in the Cut-off determination or reported ZnEq. 2019 Exploration Program Plans for 2019 include a phased diamond drill program of up to 8,000 meters to target resource expansion at the AG Zone and Palmer Deposits, as well as new geological and geophysical targets within a two kilometers radius. The opportunity to add to the existing mineral resource base and enhance the robust economics of the Project, and to discover new resources to potentially significantly extend the PEA mine life, is considered excellent. The Project benefits from structural folding which has resulted in +10 km of the key mineralized horizon stratigraphy being compressed into a relatively compact area such that multiple deposits can potentially be accessed by a single, centrally-located portal. Drill targets for 2019 include the AG Zone Deposit (open to expansion in most directions), an airborne geophysical EM target located down-dip of RW Zone in the Palmer Deposit, and new targets in the HG-CAP-Waterfall Syncline Complex. Drilling will be phased and is underway with one drill rig. Total meters are expected to range from 2,500 up to 8,000 meters. Other summer activities will include the construction of surface infrastructure in support of a proposed underground development ramp and exploration drift. Work will include portal site preparation, access road completion, and installation of waste rock and water management facilities. Permit applications for the underground program were submitted earlier this year and are currently under review by Alaska regulatory agencies. Regional and detailed geological mapping and environmental baseline and engineering work to support future economic studies will be ongoing. Darwin Green, VP Exploration for Constantine Metal Resources Ltd. and a qualified person ("QP") as defined by Canadian National Instrument 43-101 has reviewed and approved the technical information contained in this release. About the Palmer Project Palmer is a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced by Constantine Mining LLC., which is a joint venture between Constantine (51%) and Dowa Metals & Mining Co Ltd. (49%), with Constantine as operator. The Project is located in a very accessible part of coastal Southeast Alaska, with road access to the edge of the property and within 60 kilometers of the year-round deep-sea port of Haines. The total consolidated mineral resource at the Project includes 4.68 million tonnes of 10.2% zinc equivalent in the Indicated category and 9.59 million tonnes of 8.9% zinc equivalent in the Inferred category. The mineral resource includes the main Palmer Deposit and the AG Zone Deposit, located three km to the southwest. Mineralization at Palmer occurs within the same belt of rocks that is host to the Greens Creek mine, one of the world's richest VMS deposits. VMS deposits are known to occur in clusters, and with at least 25 separate base metal and/or barite occurrences and prospects on the Project, the potential to discover multiple deposits at Palmer is considered excellent. About the Company Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on premier North American mining environments. The Company's flagship asset is the Palmer Project, a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint venture between Constantine (51%) and Dowa Metals & Mining Co., Ltd. (49%), with Constantine as operator. Constantine also controls a portfolio of high-quality, 100% owned, gold projects, and intends to proceed with a restructuring transaction whereby it would spin-out these gold assets into its wholly-owned subsidiary, HighGold Mining Inc. (see Constantine news release dated May 21, 2019). These include the very high-grade Johnson Tract Au-Ag-Zn-Cu-Pb deposit, located in coastal south-central, Alaska and projects in the Timmins, Ontario gold camp that include the large, well-located Golden Mile property, the Munro Croesus Gold property, which is renowned for its exceptionally high-grade gold mineralization, and the more-recently acquired Golden Perimeter property. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses. On Behalf of Constantine Metal Resources Ltd. "Garfield MacVeigh" President For further information, please visit the Constantine Metal Resources website atwww.constantinemetals.com, or contact: Naomi NemethVice President, Investor RelationsEmail:info@constantinemetals.comPhone: +1 604 629 2348, Ext 1413 Or Garfield MacVeigh, PresidentEmail:info@constantinemetals.comPhone: +1 604 629 2348 Notes:The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the Company's 2019 drilling plans, infrastructure construction plans for 2019, the Company's PEA, statements regarding the Palmer Project mineral resource estimate, and potential mineralization and geological merits of the Palmer Project. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, commodity prices, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Constantine to differ materially from any projections of results, performances and achievements of Constantine expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, imprecision of mineral resource estimates, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing and other factors discussed or referred to in the Company's most recent MD&A under "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45953
The Zacks Industry Rank Highlights: Encore, LexinFintech, Navient, Ally and Sallie Mae For Immediate Release Chicago, IL – June 27, 2019 - Stocks featured in this week's Zacks Industry Rank analysis include Encore Capital Group ECPG, LexinFintech Holdings Ltd ADRs LX, Navient Corp NAVI, Ally Financial ALLY and Sallie Mae SLM. FinTech Stocks Burn Rubber in 2019 There is a relatively new and deep small-cap banking niche to know about – and it is experiencing a solid 2019 stock market rally. At Zacks, we label this 22-company strong banking group as Financial - Consumer Loans. But the classic buzzword floating around here is FinTech. In brief, FinTech is the use of Big Data, and other forms of Artificial Intelligence, to enhance the process of lending to millions of everyday consumers. Financial technology, often shortened to FinTech, is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. To recap, it is an emerging industry that uses technology to improve activities in finance. The Zacks Industry Rank of Financial - Consumer Loans has floated between 11 and 18 over the last 8 weeks. With 255 industries to rank at Zacks, that puts this group in the Top 10% consistently. Studies have shown us: Roughly half of a stock's price movement can be attributed to a stock's industry group. In fact, the top 50% of Zacks Ranked Industries outperforms the bottom 50% by a factor of more than 2 to 1. By focusing on the top stocks within the top 50% of Zacks Ranked Industries, you can dramatically improve your stock picking success. Since the big Xmas selloff of 2018, this group’s share prices have indeed been in an outperforming share price recovery mode. YTD returns for the Financial – Consumer Loans group are up +26.35%, which compares favorably to an S&P 500 index up +18.5%. Next, I present three Zacks #1 Rank (STRONG BUY) FinTech stocks— (1) Encore Capital Group: This is a Zacks #1 Rank (STRONG BUY) Stock, with a B for Value and a D for Growth. The market cap is $1.0B. The stock started the year at $24 a share and is now $33 a share. In late 2017, it was above $45 a share. Today, with that share price in partial recovery, the PEG ratio is still a low 0.47. Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Story continues Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore's success and future growth are driven by: Its sophisticated and widespread use of analytics, Its broad investments in data and behavioral science, The significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and The company's demonstrated commitment to conducting business ethically and in ways that support its consumers' financial recovery. (2) LexinFintech Holdings Ltd ADRs: This is a Zacks #1 Rank (STRONG BUY) Stock, with a C for Value and a C for Growth. The market cap is $1.95B. The stock started the year at $7 a share and is now $11.25 a share. In early 2018, this was between $16 and $18 a share. Today, with the share price in partial recovery, the forward 12-month P/E is 7.0. LexinFintech Holdings is an online consumer finance platform for educated young adults primarily in China. The company provides technologies including big data, cloud computing, and artificial intelligence. LexinFintech is based in China. (3) Navient Corp: This is a Zacks #1 Rank (STRONG BUY) stock, with a C for Value and a D for Growth. The market cap is $3.1B. The stock started the year at $9 a share and is now trading at around $13 a share. In early 2017, this was a $16 stock. Fair value looks to be $22. This could be a double bagger. An $8 share bottom was found in the Xmas selloff of 2018 and back in early 2016. So, it too is bouncing up from a low. The PEG ratio is at 2.0, which is the worst of the bunch here. Navient Corporation offers a variety of loan management, servicing and asset recovery services to clients in higher education, and federal, state, and local governments. The company operates in four segments: Consumer Lending, Business Services, FFELP (Federal Family Education Loan Program) Student Loans and Other. The company acts as a servicer for Department of Education and FFELP loans as well as private student loans. Navient Corporation is based in United States. Finally, I present two noted Zacks #2 Rank (BUY) larger market cap names. (4) The $11.85B market cap Ally Financial , an auto financial services company. AND (5) The $3.95B market cap Sallie Mae . That acronym is tied to a firm originally responsible for the nation’s government-sponsored student loan program. This company now originates, services, and collects mostly private education loans. It provides college savings tools too. On April 30, 2014, Sallie Mae spun off its federal student loan servicing operation and most of its federal student loan portfolio into a separate, publicly traded entity -- called Navient Corporation. Navient is currently the largest servicer of federal student loans and acts as a collector on behalf of the U.S. Dept. of Education. Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Navient Corporation (NAVI) : Free Stock Analysis Report Ally Financial Inc. (ALLY) : Free Stock Analysis Report SLM Corporation (SLM) : Free Stock Analysis Report Encore Capital Group Inc (ECPG) : Free Stock Analysis Report LexinFintech Holdings Ltd. Sponsored ADR (LX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments
Iran delays threat to breach terms of nuclear deal ahead of signatories' summit The US this week placed sanctions on Iran's Supreme Leader, Ayatollah Ali Khamenei - AFP Iran delayed a threat to breach its nuclear deal commitments while it waits for Europe to put the finishing touches to a multimillion-pound credit line to help it circumvent US sanctions. The Islamic Republic had said its stocks of low enriched uranium would breach the 300 kilogram limit allowed under the 2015 nuclear deal, also known as the JCPOA, on Thursday. But officials from the International Atomic Energy Agency said enrichment had gone more slowly than expected and that Iran was not likely to hit the limit until the weekend. Representatives of Iran, Britain, France, Germany, Russia, China, and the European Union, the remaining signatories of the agreement, are expected to meet to discuss a possible Iranian violation of the agreement in Vienna on Friday. The three European nations are expected to use the meeting to announce a new credit instrument designed to facilitate trade with Iran. The mechanism, called Instex, is meant to allow European companies to sell essential goods to Iran without falling foul of US financial sanctions. Britain, France, and Germany are expected to put up a small amount of money to kickstart it. It is unclear whether the instrument, which has taken months of complex legal work to prepare, will be enough to defuse the brewing confrontation in the Gulf. The JCPOA offered Iran sanctions relief and trade opportunities in exchange for restrictions on its nuclear activity. The United States withdrew from the agreement last year and has imposed punishing sanctions on Iran in a bid to force it to accept more restrictive agreement. Iran has said it will abandon its commitments, starting with the 300 kg uranium limit, unless the Europeans find a way for it to access economic benefits the deal promised. Iranian officials have said they will not be satisfied with requests for patience. But European diplomats say the instrument may take time to gain the confidence of private companies, and are unable to name the firms likely to make use of it. The US has been critical of the initiative. Brian Hook, the US special representative for Iran, said this week he did not think Iran would meet the transparency standards Europe will demand in order to make the mechanism functional.
You Might Like Theratechnologies Inc. (TSE:TH) But Do You Like Its Debt? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Investors are always looking for growth in small-cap stocks like Theratechnologies Inc. (TSE:TH), with a market cap of CA$552m. However, an important fact which most ignore is: how financially healthy is the business? Given that TH is not presently profitable, it’s essential to understand the current state of its operations and pathway to profitability. Let's work through some financial health checks you may wish to consider if you're interested in this stock. However, potential investors would need to take a closer look, and I recommend youdig deeper yourself into TH here. In the previous 12 months, TH's rose by about US$50m including long-term debt. With this increase in debt, the current cash and short-term investment levels stands at US$50m , ready to be used for running the business. Moreover, TH has produced cash from operations of US$2.3m during the same period of time, leading to an operating cash to total debt ratio of 4.6%, indicating that TH’s current level of operating cash is not high enough to cover debt. At the current liabilities level of US$29m, it appears that the company has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 2.46x. The current ratio is calculated by dividing current assets by current liabilities. Generally, for Biotechs companies, this is a reasonable ratio since there is a bit of a cash buffer without leaving too much capital in a low-return environment. TH is a highly-leveraged company with debt exceeding equity by over 100%. This is somewhat unusual for small-caps companies, since lenders are often hesitant to provide attractive interest rates to less-established businesses. But since TH is presently loss-making, there’s a question of sustainability of its current operations. Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate. Although TH’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised. Since there is also no concerns around TH's liquidity needs, this may be its optimal capital structure for the time being. Keep in mind I haven't considered other factors such as how TH has been performing in the past. You should continue to research Theratechnologies to get a more holistic view of the small-cap by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for TH’s future growth? Take a look at ourfree research report of analyst consensusfor TH’s outlook. 2. Valuation: What is TH 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 TH 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.
US gets no commitment from NATO for help on Iran threat BRUSSELS (AP) — NATO allies gave the U.S. no firm commitments that they will participate in a global effort to secure international waterways against threats from Iran, acting Defense Secretary Mark Esper said Thursday, wrapping up his first alliance meeting. Esper said the U.S. will come back next month and provide reluctant allies more details on exactly how the Iranian threat has escalated in recent months, and how nations can work together to deter further aggression. "At the end of the day what our ask is here, near term, is to publicly condemn Iran's bad behavior," Esper said as he prepared to leave Brussels. "And in the meantime, in order to avoid a military escalation, help us maintain the freedom of navigation in the Strait of Hormuz, in the Persian Gulf and wherever." Esper, who didn't have high expectations for firm commitments coming in, got little of either, though he said that some allies privately expressed interest in hearing more. Esper's visit to NATO, just days after he took over at the Pentagon, came amid sharply increased tensions between the U.S. and the Islamic Republic. The Trump administration has blamed Iran for recent attacks on oil tankers in the Gulf of Oman, as well as bombings in Iraq. Iranian forces also shot down an American drone that it said had flown into its airspace, which the U.S. disputes. Earlier this week, as he headed to NATO, Esper said his goal was to persuade allies that the confrontation with Iran is a global challenge requiring an international response, and that it is "not Iran versus the United States." Esper's discussions with NATO counterparts were aimed at reinforcing the call to action delivered earlier this week by Secretary of State Mike Pompeo. U.S. leaders want to build a broad coalition, including Asian and European countries, to counter the Iranian military threat, and help monitor shipping in the Persian Gulf region, where oil tankers have been attacked. Story continues NATO allies have expressed reluctance to get involved in any military effort to help secure the region or counter Iran. Europe wants more emphasis on minimizing the chances of war, especially after the events of last week, when President Donald Trump approved military retaliation for Iran's strike against the drone, then withdrew the order at the last minute. Esper said Thursday there is a range of options that allies could participate in, ranging from increased air surveillance and maritime escorts to the establishment of a "picket line" of ships to protect the waterways near the Gulf. Those ships would essentially set up a series of checkpoints in the Gulf region. Asked about allies' reaction to the U.S. request, NATO Secretary General Jens Stoltenberg said Thursday that there were no decisions made to take any action. "Allies agreed that we are deeply concerned about what Iran has done and is doing in the region," said Stoltenberg. "The dialogue between allies will continue, but the main message — the main focus — of all allies is to de-escalate, is to actually avoid a conflict, is to find ways to reduce tensions. One European NATO diplomat said the alliance wants to stay away from the issues linked to Iran. Instead, the alliance wants to see more calm from the U.S. and Iran, and don't want the matter to become a NATO issue, said the diplomat, who spoke on condition of anonymity to reveal private discussions. Trump, who withdrew the United States last year from an international deal to limit Iran's nuclear program and then reinstated harsh economic sanctions, says he wants to work out an even more restrictive deal with Tehran. Germany, France and Britain, as well as Russia and China, remain part of the Obama administration-backed nuclear deal that Trump abandoned last year. The 2015 agreement aimed at curbing Iran's nuclear ambitions in exchange for relief from economic sanctions. Iran, however, has denounced the latest U.S. sanctions as "idiotic" and an obstacle to talks. In response, Trump fired back that "any attack by Iran on anything American" would be answered with overwhelming military force that "in some areas" would mean "obliteration." The attacks and escalating tensions have raised worries of an impending conflict between the U.S. and Iran. But, in public and private meetings, Esper repeatedly pressed the Trump administration message that America does not want war. "Most partners in the room acknowledged the challenges we face," said Esper. "I think they appreciate that the United States is not seeking war with Iran that we want to get this off of a military track and onto a diplomacy track." --Associated Press writer Lorne Cook in Brussels contributed to this report.
U.S. defense chief tries to rally NATO allies on Iran as tensions simmer By Phil Stewart, Robin Emmott and Sabine Siebold BRUSSELS (Reuters) - Acting U.S. Defense Secretary Mark Esper appealed to NATO allies on Thursday to publicly denounce Iran's hostile actions and consider participating in a still-evolving plan to better safeguard strategic waterways around the Strait of Hormuz. Esper, at NATO headquarters in his international debut as Pentagon chief, also called for help moving tensions with Iran from a military path - which included Iran's downing of a U.S. drone last week and an aborted U.S. military response - to a diplomatic one. "I discussed the need to internationalize this issue by encouraging NATO allies and regional partners to voice their opposition to Iran's bad behavior and to help us deter further provocative acts by improving maritime security," Esper told reporters after the closed-door discussions. U.S. President Donald Trump's last-minute decision to call off planned strikes on Iran last week was the culmination of weeks of building military tension. Washington also accused Iran of being behind attacks on ships in the Gulf, which Tehran denies. Washington's European allies, critical of Trump's decision to withdraw from a 2015 nuclear deal with Iran, have reacted with alarm in recent weeks, repeatedly warning both sides that a small mistake could lead to war. The European allies told the gathering they wanted to see the United States and Iran de-escalate tensions, adding they would support all diplomatic efforts to do so, diplomats told Reuters. On Tuesday Trump threatened the "obliteration" of parts of Iran if it struck U.S. interests. President Hassan Rouhani, who normally presents Tehran's mild-mannered face, called White House policy "mentally retarded." Esper said Washington was not looking for a war and instead sought European support for diplomacy. "We do not seek armed conflict with Iran but we are ready to defend U.S. forces and interests in the region. No one should mistake restraint for weakness," Esper told reporters, Story continues A NATO ROLE IN CRISIS? Many allies supported Esper's overall message at the NATO gathering, a U.S. official said, speaking on condition of anonymity. But France voiced concerns in the closed-door session about any possibility of a formal NATO role in the Iran crisis, a NATO diplomat said. French officials could not be immediately reached for comment. Germany underscored the importance of Iran's 2015 nuclear deal with major world partners, calling it "the only thing we have," the diplomat said. Reuters reported earlier on Thursday that Iran was on course to breach a threshold in its nuclear agreement with world powers within days by accumulating more enriched uranium than permitted, although it has not done so yet, diplomats said, citing the latest data from U.N. inspectors. Esper said no NATO allies made any contributions on Thursday but noted that it was still "early days" as the United States develops options to deter potential attacks on commercial shipping. A NATO diplomat said no specific requests were made. Washington was looking at options including broader maritime surveillance, as well as setting up a "picket-line of ships" to protect the international waterways, Esper told reporters. Escorts for ships also are an option. "We have to flesh that out on our end and we'll see what makes most sense," Esper said. (Reporting by Phil Stewart, Robin Emmott, Sabine Siebold; Editing by Chizu Nomiyama and Bill Trott)
Zacks Earnings Trends Highlights: Lennar, FedEx and Micron For Immediate Release Chicago, IL – June 27, 2019 – Zacks Director of Research Sheraz Mian says, “Estimates for Q2 have come down, but the magnitude of negative revisions remains below the comparable periods of other recent quarters.” Earnings Growth Challenges to Persist Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>> Here are the key points: The growth picture is not expected to improve in the June quarter, which would follow the roughly flat finish in Q1. Driving this growth challenge, which is expected to persist through Q3, is a combination of tough comparisons and moderating economic growth. Total Q2 earnings for the S&P 500 index are expected to be down -2.9% from the year-earlier period on +4.3% higher revenues. This would follow the -0.2% earnings growth on +4.5% higher revenues in Q1. Estimates for Q2 have come down, but the magnitude of negative revisions remains below the comparable periods of other recent quarters. The -2.9% decline currently expected is down from flat growth in late-March. Q2 earnings growth is expected to be negative for 8 of the 16 Zacks sectors, with Technology, Aerospace, Basic Materials, Construction and Conglomerates as double-digit decliners. The Q2 reporting cycle will (unofficially) get underway with the big bank results in mid-July, but the earnings season has actually gotten underway already, with results from 14 S&P 500 members already out. All of these companies have fiscal quarters ending in May, which we count as part of the Q2 tally. For the small-cap S&P 600 index, total Q2 earnings are expected to be -8.8% below the year-earlier level on +3.3% higher revenues. This compares to -18.5% decline in Q1 earnings on +4.0% higher revenues. For full-year 2019, total earnings for the S&P 500 index are expected to be up +0.9% on +2.6% higher revenues, which would follow the +23.3% earnings growth on +9.2% higher revenues in 2018. Double-digit growth is expected to resume in 2020, with earnings expected to be up +10.7% that year. The implied ‘EPS’ for the index, calculated using current 2019 P/E of 17.9X and index close, as of June 25th, is $163.39. Using the same methodology, the index ‘EPS’ works out to $180.94 for 2020 (P/E of 16.1X). The multiples for 2019 and 2020 have been calculated using the index’s total market cap and aggregate bottom-up earnings for each year. Story continues Q2 Earnings Season Expectations We are a couple of weeks away from the big banks (unofficially) kicking-off the Q2 earnings season. It is only in the run up to these bank releases that everyone starts paying attention to start of another earnings season. From our standpoint, however, the 2019 Q2 earnings season has actually gotten underway already. The recent quarterly releases from Lennar LEN, FedEx FDX, Micron MU for these companies’ fiscal quarters ending in May, which we count as part of our June-quarter tally. The fact is that by the time the big banks come around to report June-quarter results in mid-July, we will have seen such Q2 results from almost two dozen S&P 500 members already. Tough comparisons to last year when growth was boosted by the tax cut legislation were all along expected to weigh on earnings growth in 2019. Moderating U.S. economic growth and notable slowdowns in other major global economic regions are having a further negative impact. Uncertainty about the global trade regime and growing resort to tariffs are not helping matters either. As a result, earnings were essentially flat in the first quarter of 2019 and no significant improvement is expected in the growth trajectory in the June quarter either. In fact, this trend of flat to negative growth is expected to persist through the September quarter, with current consensus estimates looking for positive growth resuming in the last quarter of the year. But Q4 is still far from away and a lot can happen between now and then. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lennar Corporation (LEN) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments
Here's What Tiffany & Co.'s (NYSE:TIF) P/E Is Telling Us Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll look at Tiffany & Co.'s (NYSE:TIF) P/E ratio and reflect on what it tells us about the company's share price.What is Tiffany's P/E ratio?Well, based on the last twelve months it is 19.73. That means that at current prices, buyers pay $19.73 for every $1 in trailing yearly profits. See our latest analysis for Tiffany Theformula for price to earningsis: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Tiffany: P/E of 19.73 = $91.94 ÷ $4.66 (Based on the year to April 2019.) A higher P/E ratio implies that investors paya higher pricefor the earning power of the business. All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' Probably the most important factor in determining what P/E a company trades on is the earnings growth. If earnings are growing quickly, then the 'E' in the equation will increase faster than it would otherwise. That means even if the current P/E is high, it will reduce over time if the share price stays flat. Then, a lower P/E should attract more buyers, pushing the share price up. Notably, Tiffany grew EPS by a whopping 38% in the last year. And it has bolstered its earnings per share by 22% per year over the last five years. So we'd generally expect it to have a relatively high P/E ratio. We can get an indication of market expectations by looking at the P/E ratio. You can see in the image below that the average P/E (14.6) for companies in the specialty retail industry is lower than Tiffany's P/E. Tiffany's P/E tells us that market participants think the company will perform better than its industry peers, going forward. Shareholders are clearly optimistic, but the future is always uncertain. So further research is always essential. I often monitordirector buying and selling. It's important to note that the P/E ratio considers the market capitalization, not the enterprise value. That means it doesn't take debt or cash into account. In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth. While growth expenditure doesn't always pay off, the point is that it is a good option to have; but one that the P/E ratio ignores. Tiffany has net debt worth just 2.3% of its market capitalization. It would probably trade on a higher P/E ratio if it had a lot of cash, but I doubt it is having a big impact. Tiffany trades on a P/E ratio of 19.7, which is above the US market average of 17.8. Its debt levels do not imperil its balance sheet and its EPS growth is very healthy indeed. So to be frank we are not surprised it has a high P/E ratio. When the market is wrong about a stock, it gives savvy investors an opportunity. If the reality for a company is better than it expects, you can make money by buying and holding for the long term. So thisfreereport on the analyst consensus forecastscould help you make amaster moveon this stock. Of courseyou might be able to find a better stock than Tiffany. So you may wish to see thisfreecollection of other companies that have grown earnings strongly. 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.
Patriots' Brady offers more evidence that he's still got it Tom Brady will celebrate is 42nd birthday on Aug. 3. If the New England Patriots hold a public training camp session that day, he will be serenaded by the thousands of fans on hand with multiple singings of “Happy Birthday” and many holding signs saying the same. NFL history has shown us that Brady is an anomaly. We knew this already when it comes to success, but it’s true for his age as well: He’s the oldest position player in the league currently, and last year he became just the fourth quarterback to start essentially a full season at quarterback at age 41, joining Brett Favre, Vinny Testaverde and Warren Moon. New England Patriots quarterback Tom Brady has a message for his doubters - including one particular sports personality. (AP) No player has started a full season at 42; Moon has come closest, starting 10 in 1998. Despite evidence to the contrary, there are many NFL observers who seem determined to write Brady off. One of those is ESPN’s Max Kellerman of “First Take.” Kellerman has been saying for nearly three years that Brady is going to “fall off a cliff” and “be a bum in short order.” All he’s done since Kellerman first made that comment in July 2016 is lead the Patriots to a 35-9 regular-season record while posting an 89:21 touchdown-to-interception ratio, three straight Super Bowl appearances and two more championships. Typically, Brady says he tunes out the noise, but it seems Kellerman’s has gotten through. ‘He’s going to fall off a cliff’ On Thursday, Brady posted a photo on his Instagram stories of a Pocket Radar, a handheld device for measuring ball velocity. It read 61 miles per hour. Brady captioned it, “He’s Gonna Fall Off a Cliff” with a football and thinking-face emoji. In a 2017 video with NFL Network, soon-to-be first-round draft pick Patrick Mahomes threw 62 MPH. He was 21 years old at the time. Take that, Max. (Tom Brady/Instagram) More from Yahoo Sports: USWNT needs Alex Morgan to step up vs. France Report: Celtics are the favorite to land Walker Sources: Hill meets with NFL over child abuse charges Heath not a fan of European women’s soccer: ‘Boring’
Why TripAdvisor Stock Is Up 5.5% Today Shares ofTripAdvisor(NASDAQ: TRIP)were up 5.5% as of noon EDT on Thursday. Fans of the online travel advisory service haveD.A. Davidsonto thank for that. This morning, the investment banker announced it is upgrading shares of TripAdvisor from neutral to buy, slapping a $55 price target on the $44 stock -- a potential 25% profit. Image source: Getty Images. Why does Davidson like TripAdvisor so much? As the analyst explains in a note covered onStreetInsider.com, "we are upgrading shares of TRIP to BUY [because its] business has been getting steadily healthier over the last several quarters as new products improve revenue quality by diversifying TRIP's customer base." Combined with a stable cost per click on hotel ads hosted on the site, and "valuation multiples 20%+ below historical averages," Davidson argues that now is a great time to buy the stock. Not all investors will see the value. Actually, at a price nearly 49 times trailing earnings, the stock actuallylookskind of expensive. But that's only when you value the stock on its earnings as calculated according to generally accepted accounting principles (GAAP). Viewed from the perspective offree cash flow, however, TripAdvisor is a whole lot cheaper than first meets the eye. Over the past 12 months, it generated more than one-and-a-half times more cash profit (FCF is $350 million) than it reports as net income ($134 million.) As a result, the company's price-to-free-cash-flow ratio is a much more palatable 17.5 -- and it gets cheaper when you credit the company for the $600 million more in cash than debt that it has on its balance sheet. With a growth rate projected to be better than 17% over the next five years, D.A. Davidson calls the stock a "compelling" bargain -- and I agree. 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 Rich Smithhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends TripAdvisor. The Motley Fool has adisclosure policy.
These Factors Make Core Laboratories N.V. (NYSE:CLB) An Interesting Investment Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! Core Laboratories N.V. ( NYSE:CLB ) is a stock with outstanding fundamental characteristics. When we build an investment case, we need to look at the stock with a holistic perspective. In the case of CLB, it is a highly-regarded dividend payer that has been able to sustain great financial health over the past. Below is a brief commentary on these key aspects. If you're interested in understanding beyond my broad commentary, read the full report on Core Laboratories here . Established dividend payer with adequate balance sheet CLB is financially robust, with ample cash on hand and short-term investments to meet upcoming liabilities. This implies that CLB manages its cash and cost levels well, which is a crucial insight into the health of the company. CLB appears to have made good use of debt, producing operating cash levels of 0.39x total debt in the prior year. This is a strong indication that debt is reasonably met with cash generated. NYSE:CLB Historical Debt, June 27th 2019 Income investors would also be happy to know that CLB is one of the highest dividend payers in the market, with current dividend yield standing at 4.4%. CLB has also been regularly increasing its dividend payments to shareholders over the past decade. NYSE:CLB Historical Dividend Yield, June 27th 2019 Next Steps: For Core Laboratories, I've compiled three fundamental aspects you should further examine: Future Outlook : What are well-informed industry analysts predicting for CLB’s future growth? Take a look at our free research report of analyst consensus for CLB’s outlook. Historical Performance : What has CLB's returns been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity. Other Attractive Alternatives : Are there other well-rounded stocks you could be holding instead of CLB? Explore our interactive list of stocks with large potential to 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 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.
Diodes, Enviva, Intuit, Facebook and Cisco highlighted as Zacks Bull and Bear of the Day For Immediate Release Chicago, IL – June 27, 2019 – Zacks Equity Research Diodes Inc. DIOD as the Bull of the Day, Enviva Partners EVA as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Intuit Inc. INTU, Facebook FB and Cisco Systems, Inc. CSCO. Here is a synopsis of all five stocks: Bull of the Day: Diodes Inc.is a Zacks Rank #1 (Strong Buy) and its sports an A for value and growth. Normally, I like the names that have strong growth scores and weaker value scores as that tells me I am on the right path because growth investors and value investors are looking for different things. Let's take a look at why this is a Zacks Rank #1. Description Diodes is a leading manufacturer and supplier of high-quality discrete and analog semiconductor products, primarily to the communications, computing, industrial, consumer electronics and automotive markets. The Company's corporate sales, marketing, engineering and logistics headquarters is located in Southern California, with two manufacturing facilities in Shanghai, China, a wafer fabrication plant in Kansas City, Missouri, engineering, sales, warehouse and logistics offices in Taipei, Taiwan and Hong Kong, and sales and support offices throughout the world. Diodes, Inc. recently acquired Anachip Corporation, a fabless analog IC company in Hsinchu Science Park, Taiwan. It's product focus is on subminiature surface-mount discrete devices, analog power management ICs and Hall-effect sensors all of which are widely used in end-user equipment. Earnings History DIOD has a great history of beating the number. I see four straight beats of the Zacks Consensus Estimate, and the most recent one is the biggest of the bunch. I see a 13% positive earning surprise that took place back in early May… but with broader market softness, shareholders were not rewarded. The average positive earnings surprise over the course of the last four reports is a +8.33%. Estimate Revisions DIOD has seen a lot of positive earnings estimate revisions. The current quarter moved up to 75 cents from 67 cents before the most recent earnings report. The next quarter also saw a nine cent increase as well to bring that number to 80 cents. The full year 2019 saw a big move of 30 cents, up from $2.50 to $2.80. That is the type of thing that powers a stock to become a Zacks Rank #1 (Strong Buy). Valuation The value style score for DIOD is an A, and let’s take a look at why that is. I see a 12x forward earnings multiple, which for a chip stock is pretty low. A 1.67x book multiple is also very low. At the same time I see a 10% annual top line growth rate and a 1.4x sales multiple. Operating margins have increased in each of the last two quarters, so things look good here. Bear of the Day: Enviva Partnersis 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 Bethesda, Maryland. 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. 3 Blue-Chip Tech Stocks to Buy to Close Out June Last week, the S&P 500 climbed to its first record close since April as Wall Street turned more bullish on the likelihood that the Fed will cut interest rates this year. Meanwhile, investors once again seem somewhat hopeful that an end to the prolonged U.S.-China trade war might be near. The S&P is up roughly 15% in 2019, with the likes of large-cap tech powers such as Netflix, Apple and Amazon helping lift the index. Despite continued uncertainty between the world’s two largest economies and a downturn in chip markets, technology companies look set to be long-term winners. With that said, let’s check out three blue-chip tech stocks to consider buying right now… 1. Intuit Inc. Intuit, which boasts a market cap of $67 billion, offers a variety of financial services geared toward taxes, small business money management, and personal finance. Intuit’s core software-as-a-service products include QuickBooks and TurboTax. The Mountain View, California-based company posted better-than-projected third quarter fiscal 2019 results in late May and raised its full-year guidance. Shares of Intuit have also jumped 31% in 2019 and 150% over the past three years, which blows away the S&P’s 46% climb. Our current Zacks Consensus Estimates call for the company’s adjusted full-year earnings to climb 19.4% on the back of 13.2% revenue growth. Peeking ahead to next year, Intuit’s EPS figure is expected to climb roughly 13% higher than our current year estimate, with revenue projected to jump 9.5% above 2019 to reach $7.42 billion. INTU’s longer-term earnings estimate revision activity has turned far more positive recently to help it earn a Zacks Rank #2 (Buy) right now. And the tax-focused SaaS firm is a dividend payer that raised its payout by 21% this year. 2. Facebook Facebook officially announced last week its hard asset-backed, blockchain-based cryptocurrency offering called Libra. Mark Zuckerberg’s firm, which partnered with Uber, Spotify, Mastercard and PayPal, seems set to make good on its promise to diversify amid continued backlash. Despite all of the negative headlines and increased government scrutiny, the social media giant’s core business model has remained strong, with both its daily and monthly active users up 8% last quarter. In fact, over 2.7 billion people use at least one of its “family” of services—which includes Facebook, Instagram, WhatsApp, and Messenger—every month on average. This number alone is one that should keep FB a money-making machine for years to come. Going forward, FB hopes to expand its e-commerce reach and get back to its original goal to connect family and friends. Looking ahead, FB’s full-year 2019 revenue is expected to climb 24% to reach $69.22 billion, with 2020’s figure projected to pop 21% higher to $83.87 billion. Facebook’s adjusted full-year earnings are projected to slip 6.3% this year as it spends heavily on expansion and security. Despite the expected near-term downturn, Facebook’s 2020 EPS figure is projected to soar 31% above our 2019 estimate. Shares of FB have surged 44% in 2019, yet still rest 14% below their 52-week high of $218.62 per share. FB is a Zacks Rank #2 (Buy) at the moment and is trading at 21.9X forward 12-month Zacks Consensus EPS estimates. This marks a discount compared to its industry’s 26.9X average and its own three-year high of 37X and 27.1X median. 3. Cisco Systems, Inc. Like its blue-chip tech peers, Cisco stock is up big in 2019, 32% to be exact. Shares of CSCO opened Wednesday at $56.54 per share, just off their 52-week week highs of $58.15. The historic networking power in recent years has expanded its IoT business. Cisco offers clients the ability to connect everything from transportation fleets to assembly lines in order to run their operations more efficiently. And the firm is coming off a better-than-projected Q3. Looking ahead, Cisco’s adjusted Q4 fiscal 2019 EPS figure is projected to jump 17% on 4.2% higher revenue. This growth is expected to help lift full-year earnings by 18.5% and revenue by 5.1%. Plus, the company’s bottom line is expected to jump 11.3% above our current year estimate in fiscal 2020, with revenues projected to climb 3.7% higher to reach $53.79 billion. Along with this expected counited expansion, CSCO has seen its earnings estimate revision activity trend heavily in the right direction recently, especially for fiscal 2019 and 2020, to help Cisco land a Zacks Rank #2 (Buy). Cisco is also a dividend payer that sports a 2.5% yield at the moment. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCisco Systems, Inc. (CSCO) : Free Stock Analysis ReportFacebook, Inc. (FB) : Free Stock Analysis ReportIntuit Inc. (INTU) : Free Stock Analysis ReportDiodes Incorporated (DIOD) : Free Stock Analysis ReportEnviva Partners, LP (EVA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Facebook Seeks Wallet Engineers as Blockchain Job Openings Top 30 Facebook is looking to hire more than 30 professionals to ramp up its blockchain work, including the Libra cryptocurrency. The social media giant’s career website now lists31 job openingsrequiring some blockchain expertise. Six of them are for Calibra, Facebook’s wallet app for Libra. These are all jobs fordata scientists and engineers, who will analyze how users interact with Calibra and other Facebook services. “The wallet will be the delivery vehicle for many financial services starting with personal payments, but expanding to online and offline commerce and eventually lending and personal financial management,” the job description says. Related:US Lawmakers Question Terrorist Use of Facebook Cryptocurrency The blockchain team is also recruiting legal and regulatory firepower in the form of alead commercial counsel; alead product counsel;alead international blockchain counselin Singapore who will be in charge of compliance across various jurisdictions; and apublic policy manager, who will provide “payments and blockchain regulatory policy development.” Facebook is also looking to fill a bunch of other roles involving blockchain, including atechnology communication director,an SEC reporting director, adirector of payments partnerships, afinance program manager, aprogram manager, agrowth product manager, atechnology communications manager, abrand strategy managerand asoftware engineering manager. The list also includessecurity engineersandUX researchers. Last week, Facebookformally unveiledits vision for Libra, a price-stable cryptocurrency intended to bring billions into the global financial system, with companies like Visa, Mastercard, Uber, Lyft, and PayPal on board. Related:ShapeShift Founder Says Crypto Exchange Service Will Support Libra The reveal riled politicians and regulators around the world, with the G7 creating atask forceto study Libra’s implications, the U.S. Congress scheduling hearings for July16and17and the Bank of England’s president promising the project would receive properscrutiny. Facebook headquartersimage via Facebook • Singapore’s Central Bank Wants More Information on Facebook’s Libra Crypto • Buried in Facebook’s Libra White Paper, a Digital Identity Bombshell
Does Interface, Inc. (NASDAQ:TILE) Have A Place In Your Dividend Portfolio? 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 Interface, Inc. (NASDAQ:TILE) 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 popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. A 1.8% yield is nothing to get excited about, but investors probably think the long payment history suggests Interface has some staying power. There are a few simple ways to reduce the risks of buying Interface for its dividend, and we'll go through these below. Explore this interactive chart for our latest analysis on Interface! Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Interface paid out 37% of its profit as dividends, over the trailing twelve month period. A medium payout ratio strikes a good balance between paying dividends, and keeping enough back to invest in the business. Besides, if reinvestment opportunities dry up, the company has room to increase the dividend. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Interface paid out 84% of its cash flow last year. This may be sustainable but it does not leave much of a buffer for unexpected circumstances. It's positive to see that Interface'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. As Interface has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A quick check of its financial situation can be done with two ratios: net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and net interest cover. Net debt to EBITDA measures total debt load relative to company earnings (lower = less debt), while net interest cover measures the ability to pay interest on the debt (higher = greater ability to pay interest costs). Interface has net debt of 3.38 times its EBITDA, which is getting towards the limit of most investors' comfort zones. Judicious use of debt can enhance shareholder returns, but also adds to the risk if something goes awry. We calculated its interest cover by measuring its earnings before interest and tax (EBIT), and dividing this by the company's net interest expense. Net interest cover of 6.07 times its interest expense appears reasonable for Interface, although we're conscious that even high interest cover doesn't make a company bulletproof. We update our data on Interface every 24 hours, so you can always getour latest analysis of its financial health, here. Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. Interface 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$0.12 in 2009, compared to US$0.26 last year. This works out to be a compound annual growth rate (CAGR) of approximately 8.0% a year over that time. Interface's dividend payments have fluctuated, so it hasn't grown 8.0% every year, but the CAGR is a useful rule of thumb for approximating the historical growth. A reasonable rate of dividend growth is good to see, but we're wary that the dividend history is not as solid as we'd like, having been cut at least once. With a relatively unstable dividend, it's even more important to see if earnings per share (EPS) are growing. Why take the risk of a dividend getting cut, unless there's a good chance of bigger dividends in future? Interface's earnings per share have been essentially flat over the past five years. Flat earnings per share are acceptable for a time, but over the long term, the purchasing power of the company's dividends could be eroded by inflation. 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. Above all, we're glad to see that Interface pays out a low fraction of its earnings and, while it paid a higher percentage of cashflow, this also was within a normal range. Earnings per share have been falling, and the company has cut its dividend at least once in the past. From a dividend perspective, this is a cause for concern. Ultimately, Interface comes up short on our dividend analysis. It's not that we think it is a bad company - just that there are likely more appealing dividend prospects out there on this analysis. Given that earnings are not growing, the dividend does not look nearly so attractive. Very few businesses see earnings consistently shrink year after year in perpetuity though, and so it might be worth seeing what the 7analysts we track are forecasting for the future. We have also put together alist of global stocks with a market capitalisation above $1bn and yielding more 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.
'Annabelle Comes Home' Possesses $7.2 Million on Opening Day Annabelle Comes Homescared up $7.2 million in its first day of release, putting the haunted-doll horror flick on track for a five-day opening gross between $30-35 million. That’s a respectable figure for the Gary Dauberman-directed pic—part of Warner Bros. and New Line’s money-printingConjuring-verse—especially given that the film opened early on a Wednesday, a maneuver likely intended to mount one last word-of-mouth push going into the weekend. Horror movies are known for doing most of their business across the Friday-Sunday frame, so an opening weekend at the higher end of box-office expectations seems likely, especially given where the sequel’s predecessorsAnnabelle($37 million)andAnnabelle: Creation($35 million)ended up landing. A haul somewhere in that $30-35 million range, of course, putsAnnabelle Comes Homewell below theConjuring-verse’s strongest entry,The Nun, which opened to $53.5 million and went on to bag $366 million worldwide (as well as some of the franchise’s worst reviews). Barring an unexpectedly frontloaded weekend result, however,Annabelle Comes Homewill open higher thanThe Curse of La Llorona($26.3 million), anotherConjuring-verse spinoff (though it hid its franchise connection until it hit theaters), did earlier this year. It’s also sure to blow past its most recent horror competitor, theChild’s Playremake, which opened to $14 million last week. Admittedly, part of the disappointingChild’s Playhaul was owed to opening against another talking-doll franchise update.Toy Story 4debuted to a massive $120.9 million last weekend and has been posting strong midweek results so far, setting it up to easily stay atop the box office this week. IfAnnabelle Comes Homedoes clock in at the lower end of expectations, it’s likely some of its audience opted for nostalgia hit over shiver rush and instead caught the Pixar fourquel with their families. There’s also the question mark ofAvengers: Endgame, back on screens in select theaters this weekend asDisneytakes one final run at knockingAvatarfrom its mighty perch. The Marvel Cinematic Universe sorta-finale needs $38 million added to its stunning $2.75 billion haul if it’s to dethrone James Cameron’s sci-fi epic, which stands as the highest-grossing film of all time. Even in the scenario thatToy Story 4andEndgametake a bite out ofAnnabelle Comes Home’s haul, Warner Bros. and New Line won’t exactly be licking their wounds; the key to theConjuringfranchise’s longevity is a low price tag (most are budgeted under $30 million) and, more and more these past few years, increased return on whatever relatively small investment Warner Bros. and New Line makes. The five mainConjuringfilms have grossed a combined $1.5 billion worldwide against a cumulative budget of just $103 million. UnlessAnnabelle Comes Homeinexplicably craters, it won’t be the possessed doll’s last haunting. —The Officeis leaving Netflixand your streaming bills are going to keep going up —Netflix’sMurder Mysterycould have killed it with a$120 million opening weekendif it ran in theaters —CanAvengers: Endgamecontinue dominatingthe summer box office? —Therace for next year’s Oscarsis already here —Listen to our new audio briefing,Fortune500 Daily FollowFortuneon Flipboardto stay up-to-date on the latest news and analysis.
Woman charged with manslaughter after she is shot in the stomach while pregnant Marshae Jones lost her fetus in December 2018 when she was shot in the stomach at 5 months pregnant. (Photo: Courtesy of Pleasant Grove Police Department) An Alabama woman has been charged with manslaughter in the death of her unborn baby, who was killed when the woman was shot in the stomach while pregnant. However, the person who shot her has had all charges dismissed. Marshae Jones of Birmingham was five months pregnant when she got into an altercation at a Dollar General store with a second woman, Ebony Jemison, in December 2018, according to AL.com . First responders rushed Jones to UAB Hospital, but she lost the baby. Jemison was initially charged with manslaughter, but the charges were dropped after a grand jury failed to indict her. Instead, Jones was charged with manslaughter, even though she didn’t fire the gun that killed her own unborn child. Authorities had concluded that the pregnant mom was responsible for the baby’s death because she “initiated and continued the fight,” which was allegedly linked to the baby’s father. They reasoned that Jemison was acting in self-defense when she shot Jones, according to Pleasant Grove Police Lt. Danny Reid. “The investigation showed that the only true victim in this was the unborn baby,” Reid said. ““[The baby] had no choice in being brought unnecessarily into a fight where she was relying on her mother for protection." Jones was taken into custody Wednesday and will be transferred to Jefferson County Jail, where she’ll be held on $50,000 bond. The indictment has caused an uproar on Twitter, where many consider it an assault on women’s rights and are drawing parallels to recent legislation outlawing abortion in several states. A handful of vocal celebrities are leading the charge, with actress Patricia Arquette calling the situation “unjust” and Alyssa Milano asking “Is this real life?!” Marshae Jones was pregnant when she was shot in the stomach while in a fight with another woman over the babies father. The fetus died. Now SHE is being charged with Murder. These anti abortion laws are unjust. She must not be charged. https://t.co/y5E3szVHzX — Patricia Arquette (@PattyArquette) June 27, 2019 In Alabama—a woman whose unborn baby was killed in a 2018 shooting has now been indicted in the death of the baby. Charges against the shooter were dismissed. He shot her. Killed the baby. And they charged her and dismissed the charges on him. IS THIS REAL LIFE?! https://t.co/iNoPl18WzY — Alyssa Milano (@Alyssa_Milano) June 27, 2019 A few other stars known for speaking their minds on women’s issues — Sarah Silverman and Busy Phillips — were left “speechless” by the news. Story continues Speechless. OUR COUNTRY IS NOT OK. https://t.co/Ff2o0jaPl0 — Sarah Silverman (@SarahKSilverman) June 27, 2019 This is so horrifying. I am truly speechless. https://t.co/nwnuWzJM5f — Busy Philipps (@BusyPhilipps) June 27, 2019 Ilyse Hogue, a leading abortion rights activist and president of NARAL Pro-Choice America, tweeted, “This what 2019 looks like for a pregnant woman of color without means in a red state.” Today, Marshae Jones was indicted for homicide when someone shot her in the stomach while she was pregnant, ending her pregnancy. They said she "started it." The shooter went free. This what 2019 looks like for a pregnant woman of color without means in a red state. This is now. — ilyse hogue (@ilyseh) June 27, 2019 Feminist author Evette Dionne tweeted that Jones “could’ve died,” but authorities who are “drunk with power” put the blame on the expecting mom instead. Marshae Jones could’ve died, but the county’s police lieutenant says “that the only true victim in this was the unborn baby.” These people are drunk with power and it is only going to get worse. — Evette Dionne 🏁 (@freeblackgirl) June 27, 2019 But it wasn’t just women who weighed in. Matt Ortego, a digital professional who was once served on the Democratic National Committee, remarked, “Literally blame the victim.” And former NFL player Wade Davis II wrote, “The most disrespected person in America, is the Black Woman.” "Marshae Jones, a 27-year-old Birmingham woman, was indicted by a Jefferson County grand jury on a manslaughter charge… [She] didn’t fire the shots that killed her unborn baby girl, authorities say she initiated the dispute that led to the gunfire." Literally blame the victim. https://t.co/9o8LTiCM1Z — Matt Ortega (@MattOrtega) June 26, 2019 "The most disrespected woman in America, is the Black Woman. The most un-protected person in America is the Black Woman. The most neglected person in America, is the Black Woman" Malcolm X #MarshaeJones is our sisters name.... https://t.co/mSWa4BymNY — Wade Davis II (@Wade_Davis28) June 27, 2019 On May 15, Alabama’s governor signed a bill that would severely limit women’s rights to legal abortion. Read more from Yahoo Lifestyle: Adam Scott gives Mitch McConnell permission to use his image on Twitter only during his 'stunning & humiliating defeat' Man facing backlash for repeatedly calling police on black women at pool blames his autism: 'I don't see race' Slovakia's first female president shuts down journalist's question about her outfit Follow us on Instagram , Facebook , and Twitter for nonstop inspiration delivered fresh to your feed, every day.
QuadrigaCX Users Lose $190M as Speculations Over Cotten’s Death Swirl Thecryptocommunity has recently been actively discussing the fate ofQuadrigaCX’s 30-year-old founder, Gerald Cotten, who reportedly died in India from a fatal disease in December 2018. However, before the apparent passing, he took virtual keys for digital wallets and moved them into cold storage. Why did this story end so tragically, and has it truly come to a conclusion? QuadrigaCXappearedin 2013 and quickly became one of the largest Canadiancrypto exchanges. The platform allowed its users to get cash or cryptocurrency through an online trading service by storing digital assets on the blockchain, which are only available in the same alphanumeric code. Gerald Cotten was the only officer and director. Related:From Last-Minute Will to Past Banking Problems: What Makes the QuadrigaCX Case Seem So Strange The cryptocurrency world has always been very sensitive to news about large losses of money andhacks, as the market is young, unregulated and has many users who are not protected from any kind of threat. When the news broke that Cotten died, it hit some people extremely hard — especially when it was revealed that he supposedly transferred users' funds from the exchange and used them as security for his own margin trading on other platforms. As a result, users of QuadrigaCX lost about $190 million and finally began a noisy trial. QuadrigaCX began to experience difficulties with banks in the autumn of 2018 due to the inability to access their funds. Back then, the Canadian Imperial Bank of Commerce (CIBC)frozefive accounts owned by Jose Reyes — the owner of payment processor and exchange Costodian Inc., which was a subsidiary of QuadrigaCX. The governing body also asked the Ontario Supreme Court to hold $19.6 million and determine whether these funds belonged to Costodian, QuadrigaCX or users who deposited the funds. The court ruled in favor of the bank’s request, stating that the owner of the funds was not clearly defined. But then, the case did not develop and some users could not access their accounts, but no one seemed to be getting worried after the case with CIBC. The bombshell fell in January 2019, when the company’s Twitter pagerevealedthe news that its founder, Cotten, suddenly died during a journey to India: “Please see our statement regarding the sudden passing of our@QuadrigaCoinExfounder and CEO, Gerry Cotten. A visionary leader who transformed the lives of those around him, he will be greatly missed.” The most unusual thing was the fact that, after the sudden death of its founder, QuadrigaCX exchangelost$190 million ($145 million) in digital assets, as the exchange representatives had not been able to find or access funds since Cotten’s death in December, which led to a liquidity crisis on the exchange. The exchange had only $286.000 is assets, while it owed its users about $190 million. This was the case since all the assets of the exchange were kept in acold storage, and only Cotten knew the password. In January 2019, Cotten’s wife, Jennifer Robertson, legallyassuredthe testimony that her husband had never spoke about the users’ money and he didn't leave behind any passwords to the crypto wallets. That is: no man, no money. Dead men are not responsible. In early February, rumors began to gain momentum and the public found out that Cotten could havestoredthe personal keys from the exchange on paper in a safe. This was an assumption based on the words of Cotten himself in 2014, when, in an interview, he warned about the danger of losing keys to storage systems with a cold wallet and, consequently, loss of access to the assets. He concluded that the best way to keep private keys is to print them and store offline in a safe. The company’s management wasted no time. In early February, itfileda petition to protect creditors in the Supreme Court of Nova Scotia and announced that the audit by Big Four firmE&Ywould be following up on the proceedings as an independent third party. Related:Round-Up of Crypto Exchange Hacks So Far in 2019 — How Can They Be Stopped? Also, the users of the exchange created acommitteethat provided recommendations for victims of QuadrigaCX. A committee of seven former exchange users assisted the law firms in representing all affected users in legal proceedings against QuadrigaCX. To whitewash her husband's reputation, Robertson made astatementin March, which claimed that Cotten invested his own money in QuadrigaCX to finance user withdrawals in 2018 after the CIBC froze five company accounts. On April 1, E&Yclaimedthat the now-closed exchange should be declared bankrupt and proposed an action plan in a report submitted to the Supreme Court of Nova Scotia. And after seven days, on April 8, QuadrigaCX was officially declaredbankrupt. Just a month later, E&Y released areport, which described assets and liabilities of the crypto exchange and its subsidiaries. The report said that Quadriga's assets amount to about $20.8 million and around $160 million in liabilities. In June 2019, E&Y released its most recentreport, in which it was explicitly stated that Cotten had transferred users' funds from the exchange and used them as security for his personal trading on other platforms. The report also noted that there was no separation between duties and basic internal control, nor any division of assets between QuadrigaCX funds and those of the users. Related:DEX, Explained According to the document, Cotten also created fake QuadrigaCX accounts under several pseudonyms and used them to trade on the platform to show artificial income. Some former QuadrigaCX users, however, have started their own investigation. Some Reddit usersanalyzedbitcoinstaken from the QuadrigaCX exchange and found them being traded on other exchanges. Reddit users claimed that the withdrawal of transactions that they had analyzed were found on the exchanges HitBTC and Bittrex. Cotten and Robertson tied the knot in Scotland in October 2018. A month later, in November, Cottenleftall his financial assets to his wife, making her the sole executor of his estate. For a 30-year-old man who does not have a history of life-threatening diseases, the decision to write his will a few days before leaving for India could be interpreted as a sign of fears for his life or even something nefarious. Within 24 hours of the couple’s arrival on Dec. 8, Cotten was declared dead. Representatives of the Indian hospital where he was takenclaimedin a press release that Cotten had a history of Crohn's disease and was on monoclonal antibodies for therapy. Cotten was diagnosed with a case of septic shock, perforation of peritonitis and intestinal obstruction, from which he died. Such a confluence of circumstances is extremely rare, so many netizens questioned the plausibility of such events. One Reddit user evenwrote: “I remember exactly 2 and a half weeks ago, someone on this subreddit that was jokingly talking about gerald said ‘Watch Quadriga say that they can't access cold wallets because Gerald died and he was the only one with access to the keys. The dude literally said that comment as a complete joke, and I even found it funny because of how ridiculous it was.” So why did users stay silent for such a long time instead of taking action to protect their funds? Evan Thomas, a Canadian commercial litigator, expressed his opinion with Cointelegraph on this matter: “Cryptocurrency exchanges like Quadriga are not regulated in Canada, so there were no regulatory authorities supervising Quadriga. Until the founder Gerald Cotten died in December, Quadriga didn’t appear to be having major problems and so many users didn’t have any reason to think the problems were as bad as they turned out to be.” Thomas noted that users should bare some responsibility for the loss of money, since they paid insufficient attention to where their digital funds were located, and that an easy way to protect yourself is to withdraw the funds from the exchanges: “Users can protect themselves by not keeping crypto or fiat on custodial exchanges except when they absolutely have to, such as when trading or converting to or from fiat. And customers have to be sure they trust any exchange, especially when there is no regulator supervising the exchange.” As of June, $286.000 remain in the QuadrigaCX exchange’s accounts. Debt to its former customers amounts to roughly $190 million. Where's the money? QuadrigaCX holds it in a cold wallet, but there is no key to open it, and the users are seemingly left stranded. Cotten was allegedly the only employee of the company who had access to the cold wallet of the exchange. But it seems rather implausible that the board of directors and shareholders would ever allow this to happen in any commercial structure. Despite what it was — a complicated fraud action or a simple Ponzi scheme that was interrupted by a premature death (or not) — one thing remains unambiguous: Tens of millions are still missing. But the conclusion of this story is something else. It is hard not to dwell on who stole the money and how much — even more so when it happens in an unregulated market. The lesson to be learned from this is that users must first of all protect themselves, and check as much and as deep as they can before giving their money to someone else. After all, if those funds are gone with the one you entrusted them with, there is an argument to say that the blame is partially on you. • Major Crypto Exchange Bitfinex to Briefly Go Offline for Upgrade Next Week • New CryptoCompare Research Assesses Top Performers Among Crypto Exchanges • Coinbase Releases Key Findings on Crypto Awareness and Adoption in US • Mike Novogratz: Bitcoin Will Stabilize Between $10,000 and $14,000
Have Insiders Been Selling Colgate-Palmolive Company (NYSE:CL) Shares? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So shareholders might well want to know whether insiders have been buying or selling shares inColgate-Palmolive Company(NYSE:CL). Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock on the market. However, rules govern insider transactions, and certain disclosures are required. We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But equally, we would consider it foolish to ignore insider transactions altogether. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' Check out our latest analysis for Colgate-Palmolive In the last twelve months, the biggest single sale by an insider was when the , John Huston, sold US$991k worth of shares at a price of US$71.11 per share. That means that even when the share price was slightly below the current price of US$72.35, an insider wanted to cash in some shares. We generally consider it a negative if insiders have been selling on market, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. This single sale was just 12.6% of John Huston's stake. The only individual insider seller over the last year was John Huston. The chart below shows insider transactions (by individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below! If you like to buy stocks that insiders are buying, rather than selling, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Colgate-Palmolive insiders own about US$243m worth of shares (which is 0.4% of the company). I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders. An insider sold Colgate-Palmolive shares recently, but they didn't buy any. And even if we look to the last year, we didn't see any purchases. But since Colgate-Palmolive is profitable and growing, we're not too worried by this. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. Of course,the future is what matters most. So if you are interested in Colgate-Palmolive, you should check out thisfreereport on analyst forecasts for the company. But note:Colgate-Palmolive may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with high ROE and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. 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.
Twitter will label tweets from politicians that violate rules Twitter isadding a labelto tweets that break its rules but are still considered to be in the public interest, namely from elected officials or those running for office. The companymentioned in Marchit was considering such a policy, and now it's enacting the measure effective immediately. You'll need to click through a warning to see the flagged tweets. It reads, "The Twitter rules about abusive behavior apply to this tweet. However, Twitter has determined it may be in the public's interest for the tweet to remain available." You'll only see the label, which won't be applied retroactively, on tweets from accounts that are verified and have at least 100,000 followers. Perhaps most importantly, they need to be linked to a government official, someone running for office or a person who's being considered for a government position (for instance, someone who's awaiting confirmation or has been named a successor to an appointed role). Twitter said that in certain cases, such as direct violent threats or calls to carry out violence against someone, tweets aren't likely to be in the public interest. Those will probably be removed. The label will be applied on rare occasions, Twitter said, and the flagged tweets will also be downranked in the service's algorithms and search, so fewer people are likely to see them. The labeled tweets won't appear at all in safe search, your timeline when you're on the Top Tweets view, live events pages, push notifications for recommended tweets, the notifications tab or the explore section. Twitter is setting up a dedicated team to enact the new policy, meaning those employees will likely be keeping close tabs on the accounts that fall within its remit. They'll determine whether to use the label based on these factors: • The immediacy and severity of potential harm from the rule violation, with an emphasis on ensuring physical safety; • Whether preserving a tweet will allow others to hold the government official, candidate for public office, or appointee accountable for their statements; • Whether there are other sources of information about this statement available for the public to stay informed; • If removal would inadvertently hide context or prevent people from understanding an issue of public concern; and • If the tweet provides a unique context or perspective not available elsewhere that is necessary to a broader discussion. The label is an attempt to balance out claims that the company was allowing tweets that violated its policies to remain on the platform, while ensuring the public still has access to noteworthy remarks by officials. But the move is still likely to spark controversy, particularly at a time whenthere are broader accusationsthat social networks are giving conservative voices less prominence. Twitterwrote in a blog postthat its main objective is to "protect the health of the public conversation" by allowing the public to engage with public officials and maintain a record of their remarks. It seeks to "strike the right balance between enabling free expression, fostering accountability, and reducing the potential harm caused by these tweets."
JPJ Group PLC Announces Publication of Prospectus NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS THE BASIS FOR ANY OFFER TO PURCHASE OR SUBSCRIBE FOR ANY SHARES OR OTHER SECURITIES IN JPJ GROUP PLC NOR SHALL IT FORM THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER. LONDON, UK / ACCESSWIRE / June 27, 2019 / JPJ Group plc (" JPJ " or the " Company ") ( JPJ.L ), a leading global online bingo-led operator, announced on 13 June 2019 that it had entered into a conditional agreement to acquire the business of Gamesys (Holdings) Limited (" Gamesys "), excluding sports brands and games, for a mixture of cash and new JPJ shares (the " Acquisition "). The Company announces that following approval by the FCA today, a combined shareholder circular and prospectus (the " Combined Circularand Prospectus ") containing further information on the Acquisition, a notice convening a general meeting (the " General Meeting "), and details in respect of the new shares in the Company to be issued as a result of the Acquisition, has today been published and will be sent to JPJ shareholders shortly. The Combined Circular and Prospectus is available on the Company's website at www.jpjgroup.com/investors . A copy of the Combined Circular and Prospectus will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM and will be filed on under the Company's profile on SEDAR at www.sedar.com . The General Meeting will be held at 2:00 p.m. on 31 July 2019 at The May Fair, Stratton Street, London W1J 8LT to allow JPJ shareholders to vote on the resolutions required to approve and implement the Acquisition (the " JPJ Shareholder Resolutions "). JPJ Shareholders should carefully read the Combined Circular and Prospectus in its entirety before making a decision. Story continues Completion of the Acquisition is expected to take place in Q3 2019, subject to the approval of JPJ shareholders at the General Meeting, customary conditions (including customary regulatory conditions) and the completion of an internal reorganisation of the Gamesys group. It is proposed that the enlarged group resulting from the Acquisition will be renamed Gamesys Group plc on Completion and is expected thereafter to trade under the ticker of "GYS". The board of directors of JPJ (the " JPJ Board ") considers the terms of the Acquisition and the JPJ Shareholder Resolutions to be in the best interests of JPJ and the JPJ shareholders as a whole. Accordingly, the JPJ Board recommends that JPJ shareholders vote in favour of the JPJ Shareholder Resolutions to be put to the General Meeting. As at the date of this announcement, the JPJ Directors and HG Vora, in respect of all of their holdings of JPJ Shares, and certain other JPJ Shareholders, representing in aggregate 14% of the issued share capital of JPJ, have irrevocably undertaken to vote in favour of the JPJ Shareholder Resolutions at the General Meeting. Any defined terms in this announcement shall have the same meaning as in the Combined Circular and Prospectus. About JPJ Group plc JPJ Group plc is the parent company of an online gaming group that provides entertainment to a global consumer base through its subsidiaries. JPJ Group plc currently offers bingo and casino games to its customers through its subsidiaries using the Jackpotjoy ( www.jackpotjoy.com ), Starspins ( www.starspins.com ), Botemania ( www.botemania.es ), Vera&John ( www.verajohn.com ), and InterCasino ( www.intercasino.com ) brands. For more information about JPJ Group plc, please visit www.jpjgroup.com . Enquiries JPJ +44 (0) 203 907 4025 Neil Goulden Keith Laslop Jason Holden (Investor Relations) Macquarie Capital (Europe) Limited (Lead Financial Adviser to JPJ) +44 (0) 203 037 2000 Sung Chun Alex Reynolds Canaccord Genuity Limited (Sponsor, Co-Financial Adviser & Broker to JPJ) +44 (0) 207 523 8000 George Fleet Emma Gabriel Berenberg (Joint Broker to JPJ) +44 (0) 20 3207 7800 Chris Bowman Mark Whitmore Finsbury (PR Adviser to JPJ) +44 (0) 20 7251 3801 James Leviton Andy Parnis Evercore Partners International LLP (Financial Adviser to Gamesys) +44 (0) 20 7653 6000 Tiarnán O'Rourke Harrison George Important notices This Announcement is not a prospectus and has been prepared solely for the Acquisition. A copy of the Company's shareholder circular and prospectus in relation to the Acquisition is available from the registered office of the Company, on the Company's website at ww.jpjgroup.com/investors and under the Company's profile on SEDAR at www.sedar.com . This Announcement is for information only and, save as expressly set out herein, does not constitute an offer or invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction, including without limitation, the United Kingdom, the United States, Australia, Canada, Japan, Jersey or South Africa. Persons needing advice should consult an independent financial adviser. This Announcement has been prepared for the purpose of complying with the applicable laws and regulations of the United Kingdom and information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws and regulations of jurisdictions outside the United Kingdom. The distribution of this Announcement in certain jurisdictions may be restricted by law and persons into whose possession this announcement or other information referred to herein comes should inform themselves about, and observe, any such restrictions. No action has been taken by the Company that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. This Announcement contains forward-looking statements. These statements are subject to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "expects", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. All matters that are not historical facts and involve predictions, including those statements with respect to the completion of the Acquisition are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements in this Announcement. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties factors and assumptions relating to the Company and Gamesys. Factors which may cause future outcomes to differ from those provided in forward-looking statements include, but are not limited to: general economic and business conditions; demand for the Company's and/or Gamesys' products and services; competitive factors in the industries in which the Company and Gamesys operate; exchange rate fluctuations; legislative, fiscal and regulatory developments; political risks; terrorism, acts of war and pandemics; changes in law and legal interpretations affecting the Company's intellectual property rights and internet communications; impact of technological change; that all necessary third party, regulatory, stock exchange, shareholder and other consents and approvals will be received in connection with the Acquisition on the timelines anticipated or at all, that all other conditions to closing, including completion of the Gamesys group's corporate reorganisation, will be satisfied in the manner and on the timelines anticipated; the Company's and Gamesys' ability to secure, maintain and comply with all requirements to carry out business in the jurisdictions in which they currently operate or intend to operate; governmental and regulatory actions; general business, economic and market conditions; competition; expected growth of the online gaming market; the Company's Gamesys' existing businesses and potential new market opportunities; anticipated and unanticipated costs; protection of the Company's and the Gamesys' intellectual property rights. Many of these risks and uncertainties relate to factors that are beyond the Company's and/or Gamesys' ability to control or estimate precisely, such as future market conditions, the repercussions of the UK leaving the European Union, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as the Company's and Gamesys' ability to continue to obtain financing to meet their liquidity needs, changes in the political, social and regulatory framework in which the Company and Gamesys operate or in economic or technological trends or conditions, the lack of available or qualified personnel or management, stock market volatility, taxation policies, changes in regulation, foreign operations, as well as the other factors described in the Company's past regulatory disclosures. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Forward-looking statements speak only as of the date of such statements and cannot be relied upon as a guide to future performance. Except as required by applicable law, the Company does not undertake to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The shares referred to in this Announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold, transferred or delivered, directly or indirectly, into or within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities law. Certain figures contained in this Announcement, including financial information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this announcement may not conform exactly with the total figure given. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com . SOURCE: JPJ Group plc View source version on accesswire.com: https://www.accesswire.com/550140/JPJ-Group-PLC-Announces-Publication-of-Prospectus
Microsoft Excel Vulnerability Could Put 120 Million Users At Risk Researchers have discovered a vulnerability inMicrosoftExcel, one of the most widely used productivity programs in the corporate world, that could let attackers take over a user’s system and remotely launch malware. The flaw,found by the team at Mimecast, lies in the Power Query tool, which lets users integrate spreadsheets with external databases, text documents and Web pages. If exploited byattackers, it can also launch sophisticated, hard-to-detect attacks. “Using Power Query, attackers could embed malicious content in a separate data source, and then load the content into the spreadsheet when it is opened,” the company said. The malicious code could be used to drop and execute malware that can compromise the user’s machine.” Microsoft has not issued a fix for the vulnerability at this time, but did release anadvisory documentfor users, offering a workaround to beef up security. The vulnerability is based upon a method called Dynamic Data Exchange (DDE). Attacks using this method are common, but this one is notable because it givesintrudersadministrative privileges. “Because Power Query is a powerful tool within Microsoft Excel, the potential threat for abusing the feature is great,” said Mimecast. “Using the potential weakness in Power Query, attackers could potentially embed any malicious payload that as designed won’t be saved inside the document itself but downloaded from the web when the document is opened.” —The fall and rise of VR: The struggle tomake virtual reality get real —“It’s just lazy”: Current’s CEO onFacebookCalibra’s similar logo —Slack went publicwithout an IPO. Here’s how a direct offering works —Welcome to the next generation ofcorporate phishing scams —Listen to our new audio briefing,Fortune500 Daily Catch up withData Sheet,Fortune‘s daily digest on the business of tech.
Should You Buy Interface, Inc. (NASDAQ:TILE) 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! Dividend paying stocks like Interface, Inc. (NASDAQ:TILE) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. While Interface's 1.8% dividend yield is not the highest, we think its lengthy payment history is quite interesting. Some simple research can reduce the risk of buying Interface for its dividend - read on to learn more. Explore this interactive chart for our latest analysis on Interface! Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Interface paid out 37% of its profit as dividends, over the trailing twelve month period. This is medium payout level that leaves enough capital in the business to fund opportunities that might arise, while also rewarding shareholders. Plus, there is room to increase the payout ratio over time. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. The company paid out 84% of its free cash flow as dividends last year, which is adequate, but reduces the wriggle room in the event of a downturn. It's positive to see that Interface'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. As Interface has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA measures total debt load relative to company earnings (lower = less debt), while net interest cover measures the ability to pay interest on the debt (higher = greater ability to pay interest costs). Interface is carrying net debt of 3.38 times its EBITDA, which is getting towards the upper limit of our comfort range on a dividend stock that the investor hopes will endure a wide range of economic circumstances. Net interest cover can be calculated by dividing earnings before interest and tax (EBIT) by the company's net interest expense. Interface has EBIT of 6.07 times its interest expense, which we think is adequate. We update our data on Interface every 24 hours, so you can always getour latest analysis of its financial health, here. From the perspective of an income investor who wants to earn dividends for many years, there is not much point buying a stock if its dividend is regularly cut or is not reliable. For the purpose of this article, we only scrutinise the last decade of Interface'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$0.12 in 2009, compared to US$0.26 last year. Dividends per share have grown at approximately 8.0% per year over this time. The dividends haven't grown at precisely 8.0% every year, but this is a useful way to average out the historical rate of growth. It's good to see the dividend growing at a decent rate, but the dividend has been cut at least once in the past. Interface might have put its house in order since then, but we remain cautious. With a relatively unstable dividend, it's even more important to see if earnings per share (EPS) are growing. Why take the risk of a dividend getting cut, unless there's a good chance of bigger dividends in future? While there may be fluctuations in the past , Interface's earnings per share have basically not grown from where they were five years ago. Flat earnings per share are acceptable for a time, but over the long term, the purchasing power of the company's dividends could be eroded by inflation. 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 Interface pays out a low fraction of earnings. It pays out a higher percentage of its cashflow, although this is within acceptable bounds. Second, earnings per share have been in decline, and its dividend has been cut at least once in the past. In sum, we find it hard to get excited about Interface from a dividend perspective. It's not that we think it's a bad business; just that there are other companies that perform better on these criteria. Given that earnings are not growing, the dividend does not look nearly so attractive. Very few businesses see earnings consistently shrink year after year in perpetuity though, and so it might be worth seeing what the 7analysts we track are forecasting for the future. Looking for more high-yielding dividend ideas? Try ourcurated list of dividend stocks with a yield above 3%. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Why Patterson Companies Stock Dropped 10% This Morning Shares ofPatterson Companies(NASDAQ: PDCO)dropped more than 10% in early trading Thursday, before clawing their way back to a 5.7% loss as of 12:20 p.m. EDT. And if you guessed that the reason for this was an earnings miss -- ding-ding-ding! -- you win the prize. This morning, the distributor of dental and animal health products announced earnings for its fiscal Q4 2019. Analysts had expected Patterson to report $1.4 billion in sales and profits of $0.39 per share. The company actually hit the sales target, but it earned only $0.30 per share, and $0.37pro forma-- missing on both counts. Image source: Getty Images. Were these bad results? It depends on how you look at them. On the one hand, yes, Patterson "missed estimates." On the other hand, though, the company scored 4% sales gains in each of its two main divisions (dental and animal health) and grew its profits 30% year over year. The problem with Patterson's results wasn't what it earned last quarter (or at least, not entirely), but rather the guidance the company gave for what it will earn nextyear. In fiscal 2020, Patterson says it expects earnings to range from $0.99 to $1.09 per share, as calculated according to generally accepted accounting principles (GAAP) -- or $1.33 to $1.43 per share pro forma. Wall Street, however, had been expecting Patterson to earn $1.51 per share. Granted, that may be a pro forma estimate -- but regardless, Patterson appears to be predicting an earnings miss for all of the coming year, on top of the miss from Q4 of last year. No wonder investors are upset. 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
Paul Rudd joins new Ghostbusters film: 'I nearly slimed myself!' Paul Rudd answered the call, the call to star in the new Ghostbusters movie from director Jason Reitman, EW has learned. Thursday brought word that Marvel’s resident Ant-Man is in talks to join the production, as doubly confirmed by a video reveal of Rudd standing in front of the iconic firehouse from the 1984 original, which was directed by Reitman’s dad, Ivan Reitman. “When I heard they were gonna call me, well, as you can imagine, I nearly slimed myself,” Rudd says in the video, shared by Sony Pictures’ U.K. division. “I can’t wait to join the cast this fall for Ghostbusters. In fact, I’m sliming myself right now.” The new film also stars Carrie Coon, Finn Wolfhard , McKenna Grace , and, according to Sigourney Weaver , some of the original stars. The story for this next chapter in the Ghostbusters saga centers on a single mom and her children. Coon is in talks to play the mom, while Wolfhard is in talks to play her son and Grace rounds out the family in a lead role. Rudd will take the role of a teacher living in a small town. “I’ve been wanting to work with Paul Rudd since my short film opened for Wet Hot American Summer at Sundance,” Jason Reitman said. “Thrilled he’ll be joining this new chapter in the original Ghostbusters universe.” Look who accepted the call. #GB20 pic.twitter.com/hs7iqlvRVD — Sony Pictures UK 🎬 (@SonyPicturesUK) June 27, 2019 Ivan will produce the film, which Jason co-wrote with Gil Kenan. Filming will commence this summer. Variety first reported the news of Rudd’s casting. Related content: Carrie Coon and Finn Wolfhard in talks for new Ghostbusters movie Sigourney Weaver says she’ll reunite with Ghostbusters costars in new film Captain Marvel ‘s McKenna Grace to play lead in new Ghostbusters movie
Here’s What Hedge Funds Think About Darling Ingredients Inc. (DAR) Legendary investors such as Jeffrey Talpins and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don't publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That's why we analyze the activity of those elite funds in these small-cap stocks. In the following paragraphs, we analyze Darling Ingredients Inc. (NYSE:DAR) from the perspective of those elite funds. Darling Ingredients Inc. (NYSE:DAR)was in 19 hedge funds' portfolios at the end of the first quarter of 2019. DAR investors should pay attention to an increase in hedge fund sentiment in recent months. There were 18 hedge funds in our database with DAR positions at the end of the previous quarter. Our calculations also showed that DAR isn't among the30 most popular stocks among hedge funds. In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's flagship best performing hedge funds strategy returned 25.8% year to date (through May 30th) and outperformed the market even though it draws its stock picks among small-cap stocks. This strategy also outperformed the market by 40 percentage points since its inception (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to. We're going to take a peek at the key hedge fund action regarding Darling Ingredients Inc. (NYSE:DAR). At the end of the first quarter, a total of 19 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 6% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards DAR over the last 15 quarters. So, let's check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves. More specifically,Fisher Asset Managementwas the largest shareholder of Darling Ingredients Inc. (NYSE:DAR), with a stake worth $47.8 million reported as of the end of March. Trailing Fisher Asset Management was Impax Asset Management, which amassed a stake valued at $42.2 million. ValueAct Capital, Inherent Group, and Millennium Management were also very fond of the stock, giving the stock large weights in their portfolios. As aggregate interest increased, key money managers were breaking ground themselves.CQS Cayman LP, managed by Michael Hintze, initiated the most outsized position in Darling Ingredients Inc. (NYSE:DAR). CQS Cayman LP had $9.6 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell'sArrowstreet Capitalalso made a $1.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Minhua Zhang'sWeld Capital Management, Paul Tudor Jones'sTudor Investment Corp, and Ken Griffin'sCitadel Investment Group. Let's check out hedge fund activity in other stocks - not necessarily in the same industry as Darling Ingredients Inc. (NYSE:DAR) but similarly valued. These stocks are Aaron's, Inc. (NYSE:AAN), Ultragenyx Pharmaceutical Inc (NASDAQ:RARE), NorthWestern Corporation (NYSE:NWE), and Covetrus, Inc. (NASDAQ:CVET). All of these stocks' market caps resemble DAR's market cap. [table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position AAN,20,244703,-1 RARE,18,319720,4 NWE,15,188627,0 CVET,18,537367,18 Average,17.75,322604,5.25 [/table] View table hereif you experience formatting issues. As you can see these stocks had an average of 17.75 hedge funds with bullish positions and the average amount invested in these stocks was $323 million. That figure was $210 million in DAR's case. Aaron's, Inc. (NYSE:AAN) is the most popular stock in this table. On the other hand NorthWestern Corporation (NYSE:NWE) is the least popular one with only 15 bullish hedge fund positions. Darling Ingredients Inc. (NYSE:DAR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Unfortunately DAR wasn't nearly as popular as these 20 stocks and hedge funds that were betting on DAR were disappointed as the stock returned -7% during the same period and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 20 most popular stocksamong hedge funds as 13 of these stocks already outperformed the market so far in Q2. Disclosure: None. This article was originally published atInsider Monkey. Related Content • How to Best Use Insider Monkey To Increase Your Returns • Billionaire Ken Fisher’s Top Dividend Stock Picks • 30 Stocks Billionaires Are Crazy About: Insider Monkey Billionaire Stock Index
Is Merit Medical Systems, Inc. (MMSI) A Good Stock To Buy? Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of March. At Insider Monkey, we follow nearly 750 active hedge funds and notable investors and by analyzing their 13F filings, we can determine the stocks that they are collectively bullish on. One of their picks is Merit Medical Systems, Inc. (NASDAQ:MMSI), so let’s take a closer look at the sentiment that surrounds it in the current quarter. Merit Medical Systems, Inc. (NASDAQ:MMSI)was in 17 hedge funds' portfolios at the end of March. MMSI investors should be aware of a decrease in support from the world's most elite money managers of late. There were 18 hedge funds in our database with MMSI holdings at the end of the previous quarter. Our calculations also showed that MMSI isn't among the30 most popular stocks among hedge funds. Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 40 percentage points since May 2014 through May 30, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter. We're going to review the latest hedge fund action surrounding Merit Medical Systems, Inc. (NASDAQ:MMSI). Heading into the second quarter of 2019, a total of 17 of the hedge funds tracked by Insider Monkey were long this stock, a change of -6% from the fourth quarter of 2018. Below, you can check out the change in hedge fund sentiment towards MMSI over the last 15 quarters. So, let's check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves. The largest stake in Merit Medical Systems, Inc. (NASDAQ:MMSI) was held byPerceptive Advisors, which reported holding $65.1 million worth of stock at the end of March. It was followed by Partner Fund Management with a $60.4 million position. Other investors bullish on the company included Millennium Management, SG Capital Management, and Royce & Associates. Due to the fact that Merit Medical Systems, Inc. (NASDAQ:MMSI) has experienced falling interest from the smart money, it's easy to see that there were a few hedge funds that decided to sell off their entire stakes by the end of the third quarter. It's worth mentioning that David Lohman'sDiag Capitaldumped the biggest stake of the 700 funds monitored by Insider Monkey, valued at about $1.4 million in stock, and Matthew Hulsizer's PEAK6 Capital Management was right behind this move, as the fund dumped about $0.3 million worth. These moves are interesting, as total hedge fund interest was cut by 1 funds by the end of the third quarter. Let's check out hedge fund activity in other stocks similar to Merit Medical Systems, Inc. (NASDAQ:MMSI). These stocks are TCF Financial Corporation (NYSE:TCF), Semtech Corporation (NASDAQ:SMTC), Glacier Bancorp, Inc. (NASDAQ:GBCI), and Extended Stay America Inc (NASDAQ:STAY). This group of stocks' market valuations match MMSI's market valuation. [table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position TCF,22,245330,-1 SMTC,19,139258,0 GBCI,12,57597,2 STAY,32,522804,0 Average,21.25,241247,0.25 [/table] View table hereif you experience formatting issues. As you can see these stocks had an average of 21.25 hedge funds with bullish positions and the average amount invested in these stocks was $241 million. That figure was $244 million in MMSI's case. Extended Stay America Inc (NASDAQ:STAY) is the most popular stock in this table. On the other hand Glacier Bancorp, Inc. (NASDAQ:GBCI) is the least popular one with only 12 bullish hedge fund positions. Merit Medical Systems, Inc. (NASDAQ:MMSI) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Unfortunately MMSI wasn't nearly as popular as these 20 stocks (hedge fund sentiment was quite bearish); MMSI investors were disappointed as the stock returned -1.1% during the same time period and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 20 most popular stocksamong hedge funds as 13 of these stocks already outperformed the market so far in Q2. Disclosure: None. This article was originally published atInsider Monkey. Related Content • How to Best Use Insider Monkey To Increase Your Returns • Billionaire Ken Fisher’s Top Dividend Stock Picks • 30 Stocks Billionaires Are Crazy About: Insider Monkey Billionaire Stock Index
What Kind Of Investor Owns Most Of Citizens, Inc. (NYSE:CIA)? 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 Citizens, Inc. (NYSE:CIA) should be aware of the most powerful shareholder groups. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Companies that used to be publicly owned tend to have lower insider ownership. Citizens is a smaller company with a market capitalization of US$356m, so it may still be flying under the radar of many institutional investors. In the chart below below, we can see that institutions own shares in the company. Let's take a closer look to see what the different types of shareholder can tell us about CIA. See our latest analysis for Citizens 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. We can see that Citizens does have institutional investors; and they hold 25% of the stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Citizens, (below). Of course, keep in mind that there are other factors to consider, too. Hedge funds don't have many shares in Citizens. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. 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 most recent data indicates that insiders own less than 1% of Citizens, Inc.. However, it's possible that insiders might have an indirect interest through a more complex structure. It seems the board members have no more than US$1.5m worth of shares in the US$356m company. I generally like to see a board more invested. However it might be worth checkingif those insiders have been buying. The general public -- mostly retail investors -- own 67% of Citizens . 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 8.2%, 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. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. I like to dive deeperinto how a company has performed in the past. You can accessthisinteractive graphof past earnings, revenue and cash flow for free. Of coursethis may not be the best stock to buy. So take a peek at thisfreefreelist of interesting companies. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Why Pippa Middleton Didn't Want Meghan Markle at Her Wedding Click here to read the full article. Does everyone remember Kate Middleton ’s wedding? Or rather, Pippa Middleton ’s presence at Kate’s wedding? It’s certainly all that was talked about at the time — and it appears Pippa’s family feared the same would happen at her nuptials. A royal expert claims the Middletons didn’t want Meghan Markle at Pippa’s wedding , fearing that Meghan’s presence would “overshadow” the bride. In the end, Meghan attended only the reception. Given the timeline of Harry and Meghan’s relationship, the Middletons’ hesitation makes a bit more sense. While the duo first met in 2016 (and news of their relationship leaked to the public in October of that year), they didn’t officially go public with their relationship until May 2017. Their first public outing was a polo match; their first royal outing, in October 2017, was at the Invictus Games opening ceremony. Related stories Meghan Markle Is Being Shamed for Updating Her Engagement Ring from Prince Harry The Queen Apparently Prefers Meghan Markle Over Kate Middleton for This Reason Meghan Markle & Serena Williams Are Reuniting at Wimbledon & We Need Pics ASAP Pippa’s wedding to James Matthews was in May 2017 — right around the time Harry and Meghan were first revealing their relationship to the world. Naturally, the media was (even more) desperate to get a glimpse of the couple, and the Middleton family feared how that would play out. According to The Sun’s royal correspondent Emily Andrews, “Meghan faced some opposition from the Middleton family, who didn’t want to invite her to Pippa’s wedding last May. They feared Meghan’s first public appearance with Prince Harry would overshadow the bride’s big day.” Did Prince Harry really drive 100 miles to get Meghan Markle inside Pippa Middleton's wedding reception? https://t.co/i412S4QPd3 pic.twitter.com/r2rM6Qr4eq — E! News (@enews) May 22, 2017 Meghan was ultimately invited to the evening reception, not the ceremony itself — but Harry, who attended both, went out of his way to make her feel at home. After the ceremony, Harry reportedly traveled 50 miles each direction to pick up Meghan from Kensington Palace and personally take her to reception. A source at the time said this: [Harry] left as discreetly as possible and travelled with her all the way back up, showing just how serious he is about her. He didn’t want Meghan having to arrive alone, without him alongside her, at the reception.” Pippa’s wedding certainly looked like an intimidating event, and Meghan was no doubt grateful to arrive with Harry at her side. Given the frenzy surrounding their relationship, we can hardly blame the Middletons for fearing an overzealous media reaction to Meghan’s presence — but we’re glad Meghan was able to celebrate at least part of this special day. Sign up for SheKnows' Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Here’s What Hedge Funds Think About Ryder System, Inc. (R) A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended March 31, so let’s proceed with the discussion of the hedge fund sentiment on Ryder System, Inc. (NYSE:R). Hedge fund interest inRyder System, Inc. (NYSE:R)shares was flat at the end of last quarter. This is usually a negative indicator. At the end of this article we will also compare R to other stocks including Qutoutiao Inc. (NASDAQ:QTT), Omnicell, Inc. (NASDAQ:OMCL), and Azul S.A. (NYSE:AZUL) to get a better sense of its popularity. So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 40 percentage points since May 2014 through May 30, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter. Even if you aren't comfortable with shorting stocks, you should at least avoid initiating long positions in our short portfolio. Let's analyze the recent hedge fund action surrounding Ryder System, Inc. (NYSE:R). Heading into the second quarter of 2019, a total of 19 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 0% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards R over the last 15 quarters. So, let's check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves. The largest stake in Ryder System, Inc. (NYSE:R) was held byPzena Investment Management, which reported holding $134.6 million worth of stock at the end of March. It was followed by Luminus Management with a $114.8 million position. Other investors bullish on the company included Scopus Asset Management, AQR Capital Management, and Two Sigma Advisors. Because Ryder System, Inc. (NYSE:R) has faced a decline in interest from the smart money, we can see that there is a sect of hedge funds that decided to sell off their positions entirely heading into Q3. At the top of the heap, Clint Carlson'sCarlson Capitaldropped the biggest investment of all the hedgies followed by Insider Monkey, valued at an estimated $36.1 million in stock, and Sara Nainzadeh's Centenus Global Management was right behind this move, as the fund sold off about $4.2 million worth. These bearish behaviors are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience). Let's check out hedge fund activity in other stocks similar to Ryder System, Inc. (NYSE:R). These stocks are Qutoutiao Inc. (NASDAQ:QTT), Omnicell, Inc. (NASDAQ:OMCL), Azul S.A. (NYSE:AZUL), and Outfront Media Inc (NYSE:OUT). All of these stocks' market caps resemble R's market cap. [table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position QTT,5,6780,4 OMCL,15,78492,2 AZUL,12,151033,1 OUT,25,334752,8 Average,14.25,142764,3.75 [/table] View table hereif you experience formatting issues. As you can see these stocks had an average of 14.25 hedge funds with bullish positions and the average amount invested in these stocks was $143 million. That figure was $380 million in R's case. Outfront Media Inc (NYSE:OUT) is the most popular stock in this table. On the other hand Qutoutiao Inc. (NASDAQ:QTT) is the least popular one with only 5 bullish hedge fund positions. Ryder System, Inc. (NYSE:R) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Unfortunately R wasn't nearly as popular as these 20 stocks and hedge funds that were betting on R were disappointed as the stock returned -7.3% during the same period and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 20 most popular stocksamong hedge funds as 13 of these stocks already outperformed the market so far in Q2. Disclosure: None. This article was originally published atInsider Monkey. Related Content • How to Best Use Insider Monkey To Increase Your Returns • Billionaire Ken Fisher’s Top Dividend Stock Picks • 30 Stocks Billionaires Are Crazy About: Insider Monkey Billionaire Stock Index
Hedge Funds Have Never Been This Bullish On Diodes Incorporated (DIOD) As we already know from media reports and hedge fund investor letters, many hedge funds lost money in fourth quarter, blaming macroeconomic conditions and unpredictable events that hit several sectors, with technology among them. Nevertheless, most investors decided to stick to their bullish theses and recouped their losses by the end of the first quarter. We get to see hedge funds' thoughts towards the market and individual stocks by aggregating their quarterly portfolio movements and reading their investor letters. In this article, we will particularly take a look at what hedge funds think about Diodes Incorporated (NASDAQ:DIOD). IsDiodes Incorporated (NASDAQ:DIOD)a cheap investment today? Hedge funds are getting more bullish. The number of long hedge fund positions rose by 4 lately. Our calculations also showed that DIOD isn't among the30 most popular stocks among hedge funds.DIODwas in 19 hedge funds' portfolios at the end of the first quarter of 2019. There were 15 hedge funds in our database with DIOD positions at the end of the previous quarter. Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 40 percentage points since May 2014 through May 30, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter. We're going to take a peek at the fresh hedge fund action surrounding Diodes Incorporated (NASDAQ:DIOD). At Q1's end, a total of 19 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 27% from the fourth quarter of 2018. Below, you can check out the change in hedge fund sentiment towards DIOD over the last 15 quarters. With the smart money's sentiment swirling, there exists an "upper tier" of key hedge fund managers who were increasing their holdings significantly (or already accumulated large positions). Among these funds,Royce & Associatesheld the most valuable stake in Diodes Incorporated (NASDAQ:DIOD), which was worth $16.5 million at the end of the first quarter. On the second spot was Arrowstreet Capital which amassed $13.6 million worth of shares. Moreover, Millennium Management, Marshall Wace LLP, and Fisher Asset Management were also bullish on Diodes Incorporated (NASDAQ:DIOD), allocating a large percentage of their portfolios to this stock. With a general bullishness amongst the heavyweights, key money managers have jumped into Diodes Incorporated (NASDAQ:DIOD) headfirst.Marshall Wace LLP, managed by Paul Marshall and Ian Wace, assembled the biggest position in Diodes Incorporated (NASDAQ:DIOD). Marshall Wace LLP had $8.8 million invested in the company at the end of the quarter. Frank Slattery'sSymmetry Peak Managementalso made a $1.5 million investment in the stock during the quarter. The other funds with brand new DIOD positions are Matthew Hulsizer'sPEAK6 Capital Management, Matthew Hulsizer'sPEAK6 Capital Management, and Matthew Tewksbury'sStevens Capital Management. Let's now review hedge fund activity in other stocks - not necessarily in the same industry as Diodes Incorporated (NASDAQ:DIOD) but similarly valued. We will take a look at PriceSmart, Inc. (NASDAQ:PSMT), BGC Partners, Inc. (NASDAQ:BGCP), TowneBank (NASDAQ:TOWN), and Livent Corporation (NYSE:LTHM). All of these stocks' market caps resemble DIOD's market cap. [table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position PSMT,10,41769,2 BGCP,26,252988,3 TOWN,7,33308,-1 LTHM,25,358707,15 Average,17,171693,4.75 [/table] View table hereif you experience formatting issues. As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $172 million. That figure was $96 million in DIOD's case. BGC Partners, Inc. (NASDAQ:BGCP) is the most popular stock in this table. On the other hand TowneBank (NASDAQ:TOWN) is the least popular one with only 7 bullish hedge fund positions. Diodes Incorporated (NASDAQ:DIOD) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Unfortunately DIOD wasn't nearly as popular as these 20 stocks and hedge funds that were betting on DIOD were disappointed as the stock returned -2.9% during the same period and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 20 most popular stocksamong hedge funds as 13 of these stocks already outperformed the market so far in Q2. Disclosure: None. This article was originally published atInsider Monkey. Related Content • How to Best Use Insider Monkey To Increase Your Returns • Billionaire Ken Fisher’s Top Dividend Stock Picks • 30 Stocks Billionaires Are Crazy About: Insider Monkey Billionaire Stock Index
Captor Capital Corp., Looking to Expand Outside of California, CEO Clip Video Vancouver, British Columbia--(Newsfile Corp. - June 27, 2019) - Oliver Summers, Director of Retail Dispensaries speaks about the vertically integrated cannabis company that has four working dispensaries and manufacturing facilities. If you cannot view the video above, please visit:https://www.b-tv.com/captor-capital-vertically-integrated-cannabis-ceo-clip-90sec/ Captor Capital Corp. is being featured on BNN Bloomberg on June 29 - June 30, 2019, throughout the day and evenings. Captor Capital Corp. (CSE:CPTR) captorcapital.com About CEO Clips: CEO Clipsis the largest library of publicly traded company CEO videos in Canada and the US. These 90 second video profiles broadcast on national TV and online via 15 top financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com. BTV - Business Television/CEO Clips Contact: Trina Schlingmann (604) 664-7401 x 5trina@b-tv.com To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45956
Here’s What Hedge Funds Think About ORBCOMM Inc (ORBC) Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter. Trends reversed 180 degrees during the first quarter amid Powell's pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a disproportionate amount of their portfolios in smaller cap stocks. We have been receiving indications that hedge funds were increasing their overall exposure in the first quarter and this is one of the factors behind the recent movements in major indices. In this article, we will take a closer look at hedge fund sentiment towards ORBCOMM Inc (NASDAQ:ORBC). ORBCOMM Inc (NASDAQ:ORBC)has seen an increase in support from the world's most elite money managers lately.ORBCwas in 16 hedge funds' portfolios at the end of March. There were 12 hedge funds in our database with ORBC holdings at the end of the previous quarter. Our calculations also showed that orbc isn't among the30 most popular stocks among hedge funds. In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's flagship best performing hedge funds strategy returned 25.8% year to date (through May 30th) and outperformed the market even though it draws its stock picks among small-cap stocks. This strategy also outperformed the market by 40 percentage points since its inception (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to. We're going to review the recent hedge fund action surrounding ORBCOMM Inc (NASDAQ:ORBC). At the end of the first quarter, a total of 16 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 33% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards ORBC over the last 15 quarters. So, let's examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves. More specifically,Adage Capital Managementwas the largest shareholder of ORBCOMM Inc (NASDAQ:ORBC), with a stake worth $53.3 million reported as of the end of March. Trailing Adage Capital Management was Ariel Investments, which amassed a stake valued at $16.4 million. Raging Capital Management, Impax Asset Management, and Royce & Associates were also very fond of the stock, giving the stock large weights in their portfolios. Now, key hedge funds were leading the bulls' herd.Raging Capital Management, managed by William C. Martin, assembled the largest position in ORBCOMM Inc (NASDAQ:ORBC). Raging Capital Management had $6.8 million invested in the company at the end of the quarter. James Thomas Berylson'sBerylson Capital Partnersalso made a $2.1 million investment in the stock during the quarter. The other funds with brand new ORBC positions are Brian C. Freckmann'sLyon Street Capital, Minhua Zhang'sWeld Capital Management, and Andrew Feldstein and Stephen Siderow'sBlue Mountain Capital. Let's now review hedge fund activity in other stocks - not necessarily in the same industry as ORBCOMM Inc (NASDAQ:ORBC) but similarly valued. These stocks are Mercantile Bank Corp. (NASDAQ:MBWM), Overstock.com, Inc. (NASDAQ:OSTK), Caesarstone Ltd. (NASDAQ:CSTE), and Tredegar Corporation (NYSE:TG). This group of stocks' market valuations are closest to ORBC's market valuation. [table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position MBWM,7,27981,1 OSTK,13,20298,3 CSTE,6,20632,0 TG,12,67801,1 Average,9.5,34178,1.25 [/table] View table hereif you experience formatting issues. As you can see these stocks had an average of 9.5 hedge funds with bullish positions and the average amount invested in these stocks was $34 million. That figure was $96 million in ORBC's case. Overstock.com, Inc. (NASDAQ:OSTK) is the most popular stock in this table. On the other hand Caesarstone Ltd. (NASDAQ:CSTE) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks ORBCOMM Inc (NASDAQ:ORBC) is more popular among hedge funds. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Hedge funds were also right about betting on ORBC as the stock returned 8.1% during the same period and outperformed the market by an even larger margin. Hedge funds were clearly right about piling into this stock relative to other stocks with similar market capitalizations. Disclosure: None. This article was originally published atInsider Monkey. Related Content • How to Best Use Insider Monkey To Increase Your Returns • Billionaire Ken Fisher’s Top Dividend Stock Picks • 30 Stocks Billionaires Are Crazy About: Insider Monkey Billionaire Stock Index
Hedge Funds Have Never Been This Bullish On KalVista Pharmaceuticals, Inc. (KALV) World-class money managers like Ken Griffin and Barry Rosenstein only invest their wealthy clients' money after undertaking a rigorous examination of any potential stock. They are particularly successful in this regard when it comes to small-cap stocks, which their peerless research gives them a big information advantage on when it comes to judging their worth. It's not surprising then that they generate their biggest returns from these stocks and invest more of their money in these stocks on average than other investors. It's also not surprising then that we pay close attention to these picks ourselves and have built a market-beating investment strategy around them. IsKalVista Pharmaceuticals, Inc. (NASDAQ:KALV)undervalued? Investors who are in the know are becoming more confident. The number of long hedge fund positions inched up by 4 lately. Our calculations also showed that KALV isn't among the30 most popular stocks among hedge funds.KALVwas in 19 hedge funds' portfolios at the end of the first quarter of 2019. There were 15 hedge funds in our database with KALV holdings at the end of the previous quarter. So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 40 percentage points since May 2014 through May 30, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter. Even if you aren't comfortable with shorting stocks, you should at least avoid initiating long positions in our short portfolio. We're going to check out the fresh hedge fund action surrounding KalVista Pharmaceuticals, Inc. (NASDAQ:KALV). At the end of the first quarter, a total of 19 of the hedge funds tracked by Insider Monkey were long this stock, a change of 27% from the fourth quarter of 2018. By comparison, 4 hedge funds held shares or bullish call options in KALV a year ago. With hedgies' capital changing hands, there exists a few notable hedge fund managers who were boosting their holdings significantly (or already accumulated large positions). More specifically,RA Capital Managementwas the largest shareholder of KalVista Pharmaceuticals, Inc. (NASDAQ:KALV), with a stake worth $41.2 million reported as of the end of March. Trailing RA Capital Management was Vivo Capital, which amassed a stake valued at $38.9 million. Polar Capital, Adage Capital Management, and Deerfield Management were also very fond of the stock, giving the stock large weights in their portfolios. As industrywide interest jumped, key money managers have been driving this bullishness.Millennium Management, managed by Israel Englander, initiated the most outsized position in KalVista Pharmaceuticals, Inc. (NASDAQ:KALV). Millennium Management had $2.8 million invested in the company at the end of the quarter. Samuel Isaly'sOrbiMed Advisorsalso initiated a $2.6 million position during the quarter. The other funds with new positions in the stock are Paul Marshall and Ian Wace'sMarshall Wace LLP, Michael Gelband'sExodusPoint Capital, and Michael Platt and William Reeves'sBlueCrest Capital Mgmt.. Let's now review hedge fund activity in other stocks - not necessarily in the same industry as KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) but similarly valued. These stocks are Scholar Rock Holding Corporation (NASDAQ:SRRK), Teekay Offshore Partners L.P. (NYSE:TOO), Diamond Hill Investment Group, Inc. (NASDAQ:DHIL), and Establishment Labs Holdings Inc. (NASDAQ:ESTA). All of these stocks' market caps are closest to KALV's market cap. [table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position SRRK,5,52685,1 TOO,8,11295,0 DHIL,9,40267,2 ESTA,9,64971,0 Average,7.75,42305,0.75 [/table] View table hereif you experience formatting issues. As you can see these stocks had an average of 7.75 hedge funds with bullish positions and the average amount invested in these stocks was $42 million. That figure was $181 million in KALV's case. Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) is the most popular stock in this table. On the other hand Scholar Rock Holding Corporation (NASDAQ:SRRK) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) is more popular among hedge funds. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Unfortunately KALV wasn't nearly as popular as these 20 stocks and hedge funds that were betting on KALV were disappointed as the stock returned -28.5% during the same period and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 20 most popular stocksamong hedge funds as 13 of these stocks already outperformed the market in Q2. Disclosure: None. This article was originally published atInsider Monkey. Related Content • How to Best Use Insider Monkey To Increase Your Returns • Billionaire Ken Fisher’s Top Dividend Stock Picks • 30 Stocks Billionaires Are Crazy About: Insider Monkey Billionaire Stock Index
Government bans leasehold for Help to Buy houses Help to Buy housebuyers will no longer face the costly perils of leasehold ownership, as the Government confirms a ban on the sale of new houses sold under the scheme. There are more than four million leasehold properties in England, butmany are blightedby unfair charges and restrictions demanded by freeholders. In the worst cases the ground rent charged by the freeholder to the leaseholder doubles every 10 years,leaving homes unsellable. Since 2013 many leasehold homes were built under theHelp to Buy equity loan scheme, where the Government lends up to 20pc of the value of a new-build home to those with a 5pc deposit. Ministry of Housing, Communities and Local Government (MHCLG) secretary James Brokenshire today announced that no new Help to Buy houses will be sold as leasehold, other than in exceptional circumstances. These include shared ownership properties and homes built on land belonging to the National Trust or the Crown. An MHCLG statement said the move would stop “taxpayers’ money from directly supporting the unjustified sale of leasehold houses”. However, the ban will only apply to Help to Buy houses, not flats, which make up around one in five properties sold through the scheme. An MHCLG spokesman also confirmed that the Government would go further, and ban the sale of all new houses sold as leasehold, which was mooted last October. However, the ban will not apply to retirement homes, or to flats. The Government has also ditchedplans to cap ground rents at £10 a yearand reverted to proposals to set it at zero, first announced by Home Secretary Sajid Javid in 2017. The £10 ground rent cap has been heavily criticised by leasehold campaigners, who said payments at any level would encourage housebuilders to build leasehold homes just to sell them to unscrupulous property investors. However, banning the sale of new leasehold homes and ending ground rents rely on new laws being passed. With Brexit still undelivered and the ongoing Conservative leadership campaign, there is no little Parliamentary time for these laws to be placed. Mr Brokenshire said: “We are committed to taking bold action to reform the sector and will be pressing ahead as soon as parliamentary time allows – helping us delivery our promise to make the home buying and selling process quicker, cheaper and easier.” Sebastian O’Kelly of the Leasehold Knowledge Partnership, the property campaigners, said: “The only dark cloud is that while this is a very welcome move by Mr Brokenshire, it has come at a time of regime change. But it is good news.” Today’s proposals will not help existing leasehold homeowners, many with unfair contract terms. However, existing leasehold homeowners may be in line for compensation as the competition watchdog is investigating the issue. Last month the Competition and Markets Authority (CMA)started a probeinto whether homeowners were suffering from expensive fees and unfair contract terms, as well as misleading sales tactics. Many leaseholders report not knowing what they were signing up to when they bought their properties. Some say they were wrongly told they could easily buy the freehold of their property, only to find after purchase that the terms of their contract made it almost impossible. The CMA has not said what its investigation could lead to, but has powers to secure refunds for customers, issue fines and force firms to change their ways. Katie Kendrick, of the National Leasehold Campaign, a lobby group, said: "All the above is great moving forward but does nothing to help the thousands trapped in the leasehold system, which is why the CMAs investigation is so important for existing leaseholders." Existing leaseholders with high ground rents could also benefit from a pledge to improve their situation that has been signed by more than sixty freeholders. Firms that sign up to the pledge commit to free leaseholders from contracts where ground rents double every 10 or 15 years. For the week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips, sign up to ourweekly newsletter.
Alberta eases oil production curtailments for August By Nia Williams CALGARY, Alberta (Reuters) - The government of Alberta, Canada's main crude-producing province, eased crude oil production curtailments for August on Thursday, setting the limit at 3.74 million barrels per day, compared with 3.71 million bpd in July. Alberta introduced mandatory curtailments effective Jan. 1 this year to tackle pipeline congestion that left crude stranded in storage tanks in the province and widened the discount on Canadian oil versus U.S. crude to record levels. The Alberta government said letters were sent to the 29 producers subject to the production limits, who all produce more than 10,000 bpd. The statement said the province was easing the August limit "due to the private sector growing its crude-by-rail capacity, declining inventory levels and improved efficiencies in export pipelines." Curtailments have eased gradually since they were first introduced and are intended to last only until the end of 2019, although Alberta Premier Jason Kenney said this month they may have to be extended into 2020. Canada holds the world's third-largest crude reserves, the vast majority of which are in northern Alberta's oil sands. A delay in building new export pipelines because of environmental opposition and regulatory hurdles has slowed development of the energy sector. The Canadian government last week approved an expansion of the Trans Mountain pipeline, which runs from Alberta's oil sands to British Columbia's coast, but it is not expected to be in service before 2022 at the earliest. Enbridge Inc's <ENB.TO> Line 3 replacement project, which will double capacity of a pipeline carrying crude from Alberta to the U.S. Midwest, is delayed until the second half of 2020. In the interim, Canadian producers are increasingly relying on rail to ship crude to market. Crude-by-rail exports have been rising since the start of this year, although Alberta is seeking to offload deals signed by the previous government to the private sector. The previous New Democratic Party government signed contracts to ship up to 120,000 bpd of crude by rail before being ousted by the United Conservative Party in an April election. On Thursday Alberta Energy Minister Sonya Savage said the province hoped to divest the rail program by the fall, and had hired Canadian Imperial Bank of Commerce <CM.TO> to oversee the move. "As a government, we are accountable to the taxpayer," Savage said in a statement. "We will leave crude-by-rail in the hands of the private sector while making decisions that ensure the best outcomes for Albertans and our energy sector." (Additional reporting by Rod Nickel in Winnepeg; editing Steve Orlofsky and Bill Trott)
Here’s What Hedge Funds Think About AMAG Pharmaceuticals, Inc. (AMAG) Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out what the billionaire investors and hedge funds think of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG). AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG)was in 19 hedge funds' portfolios at the end of March. AMAG has seen a decrease in hedge fund interest lately. There were 23 hedge funds in our database with AMAG positions at the end of the previous quarter. Our calculations also showed that AMAG isn't among the30 most popular stocks among hedge funds. Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' large-cap stock picks indeed failed to beat the market between 1999 and 2016. However, we were able to identify in advance a select group of hedge fund holdings that outperformed the market by 40 percentage points since May 2014 through May 30, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that'll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 30.9% through May 30, 2019. That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. We're going to take a glance at the recent hedge fund action encompassing AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG). At Q1's end, a total of 19 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -17% from the previous quarter. The graph below displays the number of hedge funds with bullish position in AMAG over the last 15 quarters. So, let's see which hedge funds were among the top holders of the stock and which hedge funds were making big moves. Among these funds,Palo Alto Investorsheld the most valuable stake in AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG), which was worth $44.1 million at the end of the first quarter. On the second spot was Armistice Capital which amassed $42.7 million worth of shares. Moreover, Camber Capital Management, Renaissance Technologies, and D E Shaw were also bullish on AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG), allocating a large percentage of their portfolios to this stock. Since AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) has faced bearish sentiment from the entirety of the hedge funds we track, it's easy to see that there was a specific group of hedge funds who were dropping their full holdings heading into Q3. Interestingly, Jeffrey Jay and David Kroin'sGreat Point Partnerscut the largest investment of all the hedgies tracked by Insider Monkey, totaling close to $10.1 million in stock. Jonathan Berger's fund,Birch Grove Capital, also cut its stock, about $7.2 million worth. These transactions are important to note, as total hedge fund interest was cut by 4 funds heading into Q3. Let's also examine hedge fund activity in other stocks similar to AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG). These stocks are Sierra Wireless, Inc. (NASDAQ:SWIR), B. Riley Financial, Inc. (NASDAQ:RILY), Greenhill & Co., Inc. (NYSE:GHL), and Priority Technology Holdings, Inc. (NASDAQ:PRTH). All of these stocks' market caps resemble AMAG's market cap. [table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position SWIR,12,50988,2 RILY,10,84819,0 GHL,15,40189,2 PRTH,2,4360,-1 Average,9.75,45089,0.75 [/table] View table hereif you experience formatting issues. As you can see these stocks had an average of 9.75 hedge funds with bullish positions and the average amount invested in these stocks was $45 million. That figure was $186 million in AMAG's case. Greenhill & Co., Inc. (NYSE:GHL) is the most popular stock in this table. On the other hand Priority Technology Holdings, Inc. (NASDAQ:PRTH) is the least popular one with only 2 bullish hedge fund positions. Compared to these stocks AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) is more popular among hedge funds. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Unfortunately AMAG wasn't nearly as popular as these 20 stocks and hedge funds that were betting on AMAG were disappointed as the stock returned -31.8% during the same period and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 20 most popular stocksamong hedge funds as 13 of these stocks already outperformed the market in Q2. Disclosure: None. This article was originally published atInsider Monkey. Related Content • How to Best Use Insider Monkey To Increase Your Returns • Billionaire Ken Fisher’s Top Dividend Stock Picks • 30 Stocks Billionaires Are Crazy About: Insider Monkey Billionaire Stock Index
We Can't Stop Watching the 'Game of Thrones' Cast React to Their Baby Faces from Season 1 Click here to read the full article. It’s been a minute since Game of Thrones ended, so the withdrawals have likely started to set in for diehard fans. Fortunately, though, Conan O’Brien exists — and he is responsible for capturing the Game of Thrones cast’s reaction to season 1 footage . Spoiler alert? Kit Harington , Sophie Turner , Maisie Williams and Isaac Hempstead seeing (and hearing) their younger selves from GoT ’s past is hilarious and adorable in equal measure. O’Brien hosted this glorious reunion, which will be available for viewing in its entirety once the GoT series box set hits shelves on December 3. Until then, we’ll have to revel in this teaser. At just over two minutes long, the clip is brief but makes an impact. For starters, how tiny was Williams?! And getting a behind-the-scenes glimpse at how her friendship with Turner formed is undeniably fun. But perhaps our most favorite part of the entire clip is seeing the cast respond to seeing a fresh-faced Harington onscreen. As Turner and Williams go jaws-agape at the sight of young Harington explaining this is his first acting role, Harington had a more pointed message for Kit of-years-past: “F—k off!” Related stories A Forensic Expert Pretty Much Confirmed This Super-Gross Game of Thrones Theory Kit Harington Reacted to His Fans' Charity Donations on His Behalf in the Most Touching Way We Totally Missed Nicole Kidman's Daughters' Cameos on Big Little Lies Another highlight of the video is Williams discussing the then-uncertainty of the show, saying, “It’s going to be brilliant doing this all the time, not knowing that this is going to end… that we’ll come back, and we’ll do it again.” After the clip, the cast playfully ribbed O’Brien for putting them through such an emotional and, as Williams put it, “so embarrassing” moment. But in spite of their protects, they all obviously enjoyed the jaunt down memory lane. At the time, they couldn’t have known how quickly the show would become an enormous success. To be honest, in those early days they all just seemed grateful to have a job! Story continues Since GoT officially ended in May, there has been continued chatter about the possibility that any of the original’s stars might show up in the planned prequels. Unfortunately for us and fortunately for them, it looks as though Harington and the gang all have other pursuits keeping them busy for the time being. However, the GoT prequel has begun filming with an expected release date in 2021, so there’s that. And, hey, we can’t forget that we have this hilarious reunion in full to look forward to come December. Sign up for SheKnows' Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Amanda Bynes Is 'Still Inpatient' at Mental Health Facility Amid Fashion Institute Graduation While Amanda Bynes was able to walk at her graduation from fashion school earlier this week, a source tells PEOPLE that she is still living at a mental health facility. Bynes, 33, checked into a rehab facility in January after she started struggling toward the end of last year when she stepped back into the public eye and began pursuing work in Hollywood again , a source previously told PEOPLE. Months later, Bynes remains an inpatient. “Amanda is still inpatient in a mental health facility,” a friend of Bynes tells PEOPLE. “She was able to get an outing pass for a few hours for the special occasion so she could walk with the other students. But she left a little early and was back at the facility at the end of the graduation.” RELATED: Amanda Bynes Beams as She Graduates from Fashion School — See the Rare Photo Bynes posted a rare shot from her graduation from the Fashion Institute of Design & Merchandising on Monday, showing off her black cap and gown as she posed next to a friend. The actress gave an update on her progress at the school in a November cover story for Paper , where she said she was set to receive her Associate of Arts degree late last year and would then continue working towards her Bachelor’s degree this year. Amanda Bynes \| Amanda Bynes/ Twitter Bynes’ family attorney previously told PEOPLE that Bynes was seeing improvements a few months after checking into the facility. “Amanda is doing great, working on herself, and taking some well-deserved time off to focus on her wellbeing after graduating FIDM in December,” Tamar Arminak, the attorney, told PEOPLE earlier this year “She’s spending time reading and exercising, sketching for her new line and mostly making sure this time around she puts her needs first,” the attorney added. RELATED: Amanda Bynes Is ‘Doing Great’ and ‘Working on Herself’ Since Checking Into Rehab In the November Paper story, Bynes also opened up about her previous mental health struggles. The She’s the Man actress detailed how her drug use led to the spiral, explaining that at 16 she began using drugs and smoked marijuana for the first time. “Later on it progressed to doing molly and ecstasy,” she recalled. “[I tried] cocaine three times but I never got high from cocaine. I never liked it. It was never my drug of choice.” While she didn’t use cocaine, Bynes did say she regularly got high on another drug: “I definitely abused Adderall.”
Newsflash: Bitcoin Price Crashes Below $11,000 to Cap 20% Plunge Thebitcoin pricecrashed below the $11,000 mark on Thursday, extending the vicious sell-off that began the previous day. A suddenly-heavy BTC had struggled to defend the $12,000 mark for much of the morning, and around 12:00 pm ET traders capitulated to the stifling downward pressure. In just 25 minutes, the bitcoin price careened from $11,751 all the way down to $10,800 on Bitstamp, setting a new intraday low and putting the flagship cryptocurrency dangerously close to thepsychologically-significant$10,000 level. The 8% slide added to yesterday’s mid-day bloodbath, which served as a painful reminder that parabolic price rallies are often followed by sell-offs that are equally as swift. Read the full story on CCN.com.

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