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FDA warns of cybersecurity risk to certain Medtronic insulin pumps
(Reuters) - The U.S. Food and Drug Administration said on Thursday that certain insulin pumps of Medtronic Plc were being recalled due to a potential risk of them being hacked.
The drug regulator said it was not aware of any confirmed reports of patient harm related to the potential cybersecurity risks.
"An unauthorized person with special technical skills and equipment could potentially connect wirelessly to a nearby insulin pump to change settings and control insulin delivery," Medtronic said.
Medtronic has identified 4,000 patients who are potentially using insulin pumps that are vulnerable to this issue, the agency said.
However, a Medtronic customer support representative said the products, all older models, were not being recalled and instead the company was offering an exchange program.
Out-of-warranty models can be exchanged for a newer model at a discounted price, according to Medtronic's website, which also said that in-warranty products can be exchanged for free.
The FDA in March said cybersecurity vulnerabilities were identified in Medtronic's implantable cardiac devices, clinic programmers and home monitors.
(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur and Shounak Dasgupta) |
Woman writes open letter on immigration to white MAGA loving uncles
Juliet Grimes wrote an open letter to her conservative uncles, published in the Boston Globe . (Photo: Nina Subin) Writer Juliet Grames is asking her “white MAGA loving uncles” to acknowledge their alleged hypocrisy toward immigrants, in an open letter published in the Boston Globe . Grames penned the June 20th letter, “An open letter to my white MAGA-voting uncles on the occasion of my Italian-born great aunt’s funeral,” breaking a three-year family ban on politics since a very tense Thanksgiving three years earlier. “My family had more political disagreements during the Obama years and things got heated during the 2016 election so we dropped politics from our conversations,” Grames, a mother-of-one in Farmington, Conn., tells Yahoo Lifestyle. But when Grames’ 97-year-old great-aunt passed away in April, she overheard family members disparage the funeral’s Catholic priest — his Indian ethnicity and his thick accent, and the darker skin tone of the painted Jesus at church. “I tried to shut out those words from my head as I watched the priest sprinkle holy water on the coffin of our aunt — a little old lady much browner than that Jesus, who spoke English with a heavy accent, who never learned to read and write more than a few words in her own personal pidgin dialect,” wrote Grames. “But one of your children spoiled that service for me; one of your children felt comfortable enough espousing racist anti-immigrant rhetoric that they were happy to do it during a funeral.” Grames, author of the new novel The Seven or Eight Deaths of Stella Fortuna , which deals with Italian immigration, tells Yahoo Lifestyle, “I was very troubled by it and I knew the culture of silence had to end. I wanted to remind my uncles, who had voted on the ‘other side’ of their ancestors.” She wrote, “You loved our aunt, right? You thought she was wonderful? What about her late sister, your mother, the matriarch of your huge family? They were good people, right? Hard workers? Good Americans?: Your mother’s family came from Calabria, the state in the deep south of Italy that is best known for its ruthless and ubiquitous criminal syndicate, the ’Ndrangheta, though that name was not yet in use when they fled.” Story continues Grames pinpointed the desperation felt by many families — including her own, which migrated to America in 1939, “six short months before Italy entered World War II as an Axis Power, which meant they were about to become ‘enemy aliens’ in their new homeland,” she wrote. “But you’d be angry if anyone ever implied they might have harbored anything but pure, good American thoughts, right?” Additionally, she wrote, “You know they were fleeing that violence. So what, on paper or in practice, makes them different from the many wives and mothers fleeing violence and arriving at our borders today?” On divided migrant families housed in detention camps — or “ concentration camps ,” as referenced recently by congresswoman Alexandria Ocasio-Cortez — which reportedly deny detained children diapers, soap, and toothbrushes, Grames examined her ancestors’ journey to the U.S. “They arrived without any English language skills at all. What if your mother’s little brother, your sweet uncle, who was nine years old on the day they arrived in 1939, had been separated from his mother and forced to “represent himself” in immigrant court?” she wrote. “Can you imagine your sweet, fragile grandmother, that master cook and child-rearer, not having a total nervous breakdown if her little boy was taken away from her? Can you imagine her, not speaking a lick of English, with no idea where her children had been taken and whether they were safe, locked up in an immigrant detention center or for-profit immigrant prison, like 200 facilities around the country currently incarcerating would-be Americans?” Grames’ relatives had visas, but they were uneducated and with insufficient work experience — undesirable Green Card candidates today. “There would have been no path to citizenship for them. Their choices would have been to live here undocumented, work here illegally and without any protections, or to return to the poor, crime-ridden, war-torn land they came from,” she wrote. “What, on paper or in practice, makes them any different from the Mexicans, Salvadorans, Hondurans, Guatemalans, Haitians, and Ghanaians being detained by the thousands at the US’s borders today?” Grames’s family has not acknowledged the letter since its publication last week. “No one has said a word about it,” she tells Yahoo Lifestyle. “I love my family and I hope they love me, and think about this — we don’t have to talk about it.” Read more from Yahoo Lifestyle: Tulsi Gabbard's sister slammed for complaining about Democratic debate: 'Put on your big girl pants' Famed magazine columnist: 'Donald Trump assaulted me' Alexandria Ocasio-Cortez supports #WayfairWalkout: 'This is what solidarity looks like' Follow us on Instagram , Facebook , Twitter and Pinterest for nonstop inspiration delivered fresh to your feed, every day. |
Prabal Gurung Celebrated New York Pride With a Gorgeous Garden Party in Brooklyn
Prabal Gurung Celebrated New York Pride With a Gorgeous Garden Party in Brooklyn Candice Swanepoel Photo: Jenna Burke / BFA.com Dara Allen Photo: Jenna Burke / BFA.com Laura Kim Photo: Jenna Burke / BFA.com Mia Moretti Photo: Jenna Burke / BFA.com A round of cocktails Photo: Jenna Burke / BFA.com Victor Glemaud and Precious Lee Photo: Jenna Burke / BFA.com Jordan Casteel Photo: Jenna Burke / BFA.com Noor Tagouri Photo: Jenna Burke / BFA.com Prabal Gurung Photo: Jenna Burke / BFA.com Richie Shazam Photo: Jenna Burke / BFA.com Varsha Thapa Photo: Jenna Burke / BFA.com Pride Week in New York is here, and that means countless nightly parties. On the Wednesday eve of the monumental 50th anniversary of the Stonewall riots, the fashion set gathered in Williamsburg for a dinner hosted by designer Prabal Gurung , celebrating how far the LGBTQ community has come over the last half-century. Gurung , in a pink tie-dye shirt, yellow pants, and white platform shoes, explained to Vogue why it was important for him to host a Pride party this year. “ Pride is a month-long celebration completely allocated to the LGBTQ community. It’s not only a celebration of love, but it’s also resistance. It still is. I wanted to bring together people who I love and who have been there for me, and celebrate with people with similar ideologies.” At the intersection of Wythe Ave and North 11th Street are painted cross-walks with rainbow Pride and Transgender flags. At this corner stands the quintessentially Williamsburg Wythe Hotel, where partygoers ascended to the hotel’s new rooftop space for sunset cocktails. At the newly opened Lemon’s, by Golden Age Hospitality, a lemon drop–wallpapered cocktail bar offers sweeping views of Manhattan, plenty of foliage, and a distinctly Italian isola vibe. Prabal’s friends, including fellow designer Victor Glemaud , toasted with Glenlivet whiskey drinks while model muses pranced with panache in sherbet pinks and purples. For the second portion of the evening, attendees descended to the lovely Garden Terrace for more cocktails. Candice Swanepoel turned heads in a Prabal Gurung purple and pink dress with an orange cinched waist, but she was not alone in her choice of designer. Precious Lee, Dara Allen, Nell Diamond, Richie Shazam, and Noor Tagouri all arrived in Prabal Gurung runway outfits. Following the second cocktail hour, guests took their seats for an al fresco dinner prepared by Chefs Jake Leiber and Aidan O’Neal. Laura Kim, Varsha Thapa, Jordan Casteel, and Mia Moretti were among those seated in the gorgeous garden oasis—Brooklyn felt transformed with Caroline Cuse’s stunning floral centerpieces of birds of paradise, torch lilies, papyrus, and lemons. Moretti’s curated playlist added further Pride energy to the event, with plenty of Lizzo and Janelle Monáe. After Gurung’s heartfelt toast to Pride and love, guests dined on excellent CBD-infused dishes thanks to the brand’s partnership with Kitchen Toke. Best of all? Everyone left with goodie-bags filled with CBD products to help them through an upcoming hectic Pride weekend. See the videos. Originally Appeared on Vogue |
A Doctor Reveals How to Get Rid of Any Headache Without Medicine
Photo credit: g-stockstudio - Getty Images From Prevention One of the most apt descriptions of a headache I’ve ever read was in a novel called We Were Liars . Author E. Lockhart depicts it as a rusty saw “slicing through my forehead into the mind behind it.” Lockhart eloquently captures a headache’s paired agonies: physical pain and psychological disruption. The typical solution is an analgesic such as aspirin or ibuprofen, but this one-size-fits-all approach misses the fact that headaches can have varied causes that are best addressed by different therapies. Tension headache relief This is the most common type of headache, brought on by tense muscles in the head and neck. Massage , acupressure, hot or cold compresses, and rubs containing menthol or camphor may relieve the pain. Stress-neutralizing techniques like yoga breathing and meditation can also help prevent episodes. Stress actually contributes to virtually all kinds of headaches, so it’s worth seeking out a tension-relief method that fits into your daily routine. Migraine relief Classic symptoms of migraines include visual flashes or blind spots just before onset, throbbing pain, light sensitivity, and nausea and vomiting. Caused by rapidly dilating blood vessels, migraines can be triggered by food sensitivities, strong odors, hormonal fluctuations (migraines are more than twice as common in women as in men), and stress. As difficult as it may sound, my principal recommendation is to stop drinking caffeine daily, especially coffee (even decaf!). Eventually your sensitivity to caffeine will increase; then, when you feel a migraine coming on, drink one or two cups of a caffeinated beverage to circumvent that blood vessel dilation and stop the migraine in its tracks. To prevent it from happening in the first place, try 50 to 100 mg of extract of the herb butterbur (Petasites hybridus) twice daily with meals. Magnesium supplements (500 mg twice daily) can also be helpful. Cluster headache relief Characterized by intense, throbbing pain, these headaches typically occur on only one side of the head. They can last anywhere from 15 minutes to three hours, recur up to eight times in 24 hours, and then retreat for weeks or months until another “cluster” strikes. To treat them, people often use strong medications, including the powerful drug ergotamine, or even surgery to disable nerve endings. Story continues Before you resort to these methods, I suggest trying biofeedback, acupuncture , and supplemental magnesium (500 mg twice daily). Breathing oxygen from a tank (available by prescription) can also reverse a cluster headache. Eyestrain headache relief Symptoms include eyes that feel sore, hot, itchy, dry, or watery; blurred or double vision; and general soreness in the head, neck, or back. Eyestrain headaches are common these days—almost universally due to staring at glowing screens. The obvious solution is to take breaks (at least five minutes per hour), during which you should look into the middle and far distance. And, of course, make sure your glasses are the right Rx for you. Stay updated on the latest science-backed health, fitness, and nutrition news by signing up for the Prevention.com newsletter here . For added fun, follow us on Instagram . You Might Also Like The Best Yoga Mats, According to Top Yoga Instructors The Shockingly Simple Diet Change This Woman Made to Drop 54 Pounds Losing Stubborn Belly Fat Really Comes Down to These Two Lifestyle Changes |
Why iQiyi Stock Popped Today
What happened Shares of iQiyi (NASDAQ: IQ) jumped 10.5% on Thursday despite a lack of company-specific news. Rather, with shares of the Chinese video streaming leader down nearly 35% from its February highs, traders seem to be placing bets that iQiyi could rebound on any good news stemming from planned trade talks this weekend between China and the United States. Asian teenagers using their smartphones while sitting on colorful bean bag chairs. IMAGE SOURCE: GETTY IMAGES. So what To be clear, iQiyi shares ultimately drifted higher throughout the day today. And apart from a press release last night highlighting an award for iQiyi's AI+VR Media Innovation Platform, there were no new reports, SEC filings, or analyst notes that might otherwise have driven the stock's steady rise. It likely helped, however, that broader market indexes also climbed -- with the Nasdaq Composite up 0.7% and the S&P 500 adding 0.4% -- despite mixed messages on trade from both countries. On one hand, Chinese media reported last night that U.S. and Chinese government officials have tentatively agreed to resume broader talks aimed at quelling their ongoing trade war. But Trump economic advisor Larry Kudlow, on the other hand, suggested this afternoon that's not the case and hinted that the U.S. is planning to push forward with tariff increases. Now what Barring an update on iQiyi's financial performance between now and its next quarterly report late next month, it seems shareholders will remain at the mercy of both U.S.-China trade progress and the broader market's movements. Until then, investors would do well to take these kinds of big no-news moves with a grain of salt. 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 Steve Symington owns shares of iQiyi. The Motley Fool recommends iQiyi. The Motley Fool has a disclosure policy . |
San Francisco Mayor Backs Ban on Juul and E-Cigarettes
(Bloomberg) -- San Francisco Mayor London Breed said she supports a citywide ban on the sale of e-cigarettes, signaling her intention to sign an ordinance recently passed by the city’s board of supervisors into law, but showed less enthusiasm for proposed taxes intended to target the technology industry.
With the mayor’s backing, San Francisco will become the first U.S. city to implement a ban on nicotine vaporizer products. Breed is expected to sign the law in the next week. After that, stores will have seven months before they must remove all e-cigarettes from shelves. Cigarettes, other tobacco products and recreational marijuana will remain legal.
The city will outlaw e-cigarette sales in stores and through online orders to San Francisco addresses until the U.S. Food and Drug Administration gives the products a stamp of approval. In an appearance Thursday at Bloomberg’s Players Technology Summit, Breed said her biggest concern is use of the products by young people.
“We don’t understand the impacts of this product,” Breed said. “Until the FDA provides the facts and the appropriate regulations of this product, then we should not allow those things to be sold on the market.”
Juul Labs Inc., the biggest e-cigarette brand in the country, is based in San Francisco. The company has said the prohibition would drive adults back to cigarettes and create a black market for the products.
San Francisco’s Board of Supervisors is also considering a ballot measure that would mandate free 24/7 access to mental-health care for all residents. It would be funded through a new gross receipts tax on companies that pay their chief executive officers more than 100 times the median compensation employees receive. The measure is targeted for the November ballot.
There is also a move to put what proponents call an IPO tax on the ballot. It would place a 1.12% payroll tax on stock-based compensation, which, combined with the existing 0.38% tax, would bring the overall rate to 1.5%.
When asked about these proposals, Breed said there could be “unintended consequences,” such as on retailers, and they may be difficult to implement. She contrasted the approach to those proposals with the effort to tax net fares of ride-sharing companies Uber Technologies Inc. and Lyft Inc. The San Francisco-based companies helped work on that tax, which Breed supports and is aimed at November.
“We have to be careful when we try to put forward solutions through taxes without having real data and a thought-out plan and a collaborative approach to addressing these issues,” Breed said. “There is a need to pay your fair share when it comes to being a part of such a great city, but there is a way to do it responsibly.”
(Updates throughout with additional comments.)
To contact the reporters on this story: Romy Varghese in San Francisco at rvarghese8@bloomberg.net;Brad Stone in San Francisco at bstone12@bloomberg.net
To contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Andrew Pollack, Molly Schuetz
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
UnitedHealth to Buy Equian & Foray into Healthcare Payments
UnitedHealth Group, Inc.UNH, the leading U.S. health insurer, might buy the healthcare payments company Equian for nearly $3.2 billion, per multiple sources.
Equian delivers payment integrity solutions through proprietary content, enabling technology and highly responsive customer service. The company analyzes healthcare and insurance data to ensure that payments are fair, accurate, and paid by the correct party—resulting in billions of dollars in savings.
This buyout will allow UnitedHealth to add a new niche business to its health services segment, Optum, which deals in health management and engagement, health financial services, health IT, benefit operations, care operations and pharmacy care services. Over the years, Optum has grown to contribute an increasing proportion of total revenues.
UnitedHealth anticipates huge growth opportunity in the healthcare payments space, which is still dominated by manual functions leading to billions of waste in administration, thus calling for an urgent need of an overhaul.
The digital age has brought new spending habits for consumers, giving rise to the on-demand economy and overall growth in eCommerce spending. But healthcare has lagged in its adoption of technological advances of the digital age, thus causing consumer payments experience to suffer.
Although payment responsibility has increased dramatically in the recent years, healthcare organizations have continued to communicate with consumers, as they did half a century ago, through mailed paper statements. The content and layout of those statements have not changed much either.
To put this into perspective, nearly 90% of providers leverage paper and manual processes for collections, 53% of payers still deliver checks to providers and 93% of consumers were surprised by a medical bill in 2018.
The opportunity in this space has come to the notice of players outside the healthcare industry as well. An example of this is the recent agreement by J.P. Morgan Chase & Co. JPM to buy Philadelphia based InstaMed, a healthcare payment processor.
Equian handles nearly $500 billion in healthcare payments annually for nine out of the 10 healthcare companies. It would allow UnitedHealth to foray into the expanding healthcare payments industry, whose growth is directly linked to the increasing health spending in the United States. The Centre for Medicaid and Medicare Services projects healthcare spending in the United States to grow at an average rate of 5.5% annually to $6 trillion by 2027.
Alongside its proprietary use of Equian payments systems, UnitedHealth can also offer payment services to other insurers as the former currently serves almost 90% of the healthcare companies. UnitedHealth will also be able to serve Equian’s clients, which are insurers outside the healthcare space.
UnitedHealth has been a bellwether in the industry, staying proactive in the face of continuous challenges and changes that are imposed from regulations. Now that the Trump administration has signed an executive order to make the contracts pricing between insurers and hospitals open to patients and Bernie Sanders campaign on ‘Medicare-for –All’ proposal, to reform Healthcare, a continuous overhang remains on the health insurance business.
In order to decrease its dependency on this heavily regulated business and to diverse its revenue sources from less or non-regulated business like Optum, UnitedHealth has made several acquisitions over the years in this segment. The Equian deal also falls in the same line.
Year to date, the stock is down 2.3%, compared with the industry’s rise of 0.85%.
UnitedHealth carries a Zacks Rank #3 (Hold). Some better ranked stocks in the space are Magellan Health, Inc. MGLN and Molina Healthcare, Inc. MOH. Both the stocks carry a Zacks Rank # 1 (Strong Buy). Magellan and Molina Healthcare’s earnings for 2019 are expected to grow by 59.35% and 3.02%, respectively.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just releasedCentury of Biology: 7 Biotech Stocks to Buy Right Nowto 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 reportJPMorgan Chase & Co. (JPM) : Free Stock Analysis ReportMagellan Health, Inc. (MGLN) : Free Stock Analysis ReportMolina Healthcare, Inc (MOH) : Free Stock Analysis ReportUnitedHealth Group Incorporated (UNH) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Porch pirates return WWE belt to boy awaiting brain surgery, pen apology note
Timmy Vick, a 5-year-old autistic boy from Delaware, likes to sleep with his replica WWE belt at night. (Credit: Sergio Moreira) A group of porch pirates returned a stolen package of WWE belts that were meant for a sick 5-year-old boy and penned a heartfelt apology letter following public outcry. The belts belonged to Timmy Vick, a boy with autism from Delaware who needs surgery to remove a dangerous brain tumor. According to the young boys father, Tim Sr., his son takes the wrestling belt with him everywhere and finds comfort sleeping with the accessory. After Timmys father reached out to Sergio Moreira, a wrestling belt artist who refurbishes WWE replica belts with metal, leather, cubic zirconia and more, Moreira offered to decorate the sick boys accessory free of charge. When [Timmys father] sent me a message and asked me for help, he just was hoping for a discount, Moreira tells Yahoo Lifestyle. Moreira, 50, has been restoring WWE replica belts to make them seem like the real champion belts for two years. I told him to just pay shipping and I would take care of the rest. I felt like it was the right thing to do for Timmy and his family. They have been through so much. The package with Timmys belts was delivered to Moreiras home in Edgewood, Wash. on Monday. While Moreira was ringside at a WWE Raw show, an app on his phone alerted him that two women and a driver had swiped the package from his front porch. Determined to make good on his promise for the sick boy, Moreira went to a local news station to bring attention to the story and Timmys illness. I want them to know they took hope from a 5-year-old boy who is looking forward to that item coming back to him, Moreira told local news station KIRO7 . You stole that from him. You broke a childs heart. Moreira went on television to plead with the unidentified thieves to return the package and the Edgewood Police Department also posted surveillance footage of the theft on their Facebook , leading community members to swiftly join the rallying cry to return the package to its rightful owner. Story continues Just two days later, the thieves went to Moreiras home to return the box with Timmys belts along with a emotional four-page apology letter. We are so sorry for taking your stuff. Never in a million years would I have expected I would have stolen from a sick five year old, reads the apology letter obtained by Yahoo Lifestyle. I have a 6 year old myself and am ashamed of what I did. Homeless and addicted to drugs, the women explained that they were just trying to make a quick dollar. After watching the news and realizing what they had done, the women decided to rectify the situation. We never wanted to steal a childs hope, reads the letter. After seeing ourselves looking like low lives on the news, we have both decided to get clean and sober. The two women who stole the package later returned the belts to Sergio Moriera's home, along with a heartfelt hand-written apology letter. (Credit: Sergio Moriera) Edgewood Police Department Chief Micah Lundborg says he was surprised but glad the outreach was effective. I think it says something about people deep down inside that they want to do right for themselves and their children. Hopefully, that carries on beyond just children and the whole community, Chief Lundborg tells Yahoo Lifestyle. He adds that the Edgewood Police Department hopes to find the women to give them the help they need to get clean. Moreira says the women were crying and seemed very sorry when they dropped off the package at his home. He gave them a big hug and told them he didnt plan to press charges. With the belts returned, Moreira plans to have it delivered to its rightful owner by next week. Timmy is going to have a belt of a lifetime, Moreira says. It will be something he can carry with him as a symbol of people coming together to right a wrong and it was all for him. Read more from Yahoo Lifestyle: Father shocked to receive anonymous letter from neighbors criticizing his autistic son's toys Mother outraged after son with autism given 'most likely to get lost in a crowd' superlative at school: 'Disrespectful' Dad escorts daughter living with autism to senior prom: 'I want her to have this experience' Follow us on Instagram , Facebook , and Twitter for nonstop inspiration delivered fresh to your feed, every day. |
AuKing Mining Limited (ASX:AKN): What Does Its Beta Value Mean For Your Portfolio?
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If you're interested in AuKing Mining Limited (ASX:AKN), 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 see their prices move in concert with the market. Others tend towards stronger, gentler or unrelated price movements. Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). However, Warren Buffett said 'volatility is far from synonymous with risk' in his 2014 letter to investors. So, while useful, beta is not the only metric to consider. To use beta as an investor, you must first understand that the overall market has a beta of 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 AuKing Mining
Looking at the last five years, AuKing Mining has a beta of 1.15. The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility. If this beta value holds true in the future, AuKing Mining shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. 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 AuKing Mining's revenue and earnings in the image below.
With a market capitalisation of AU$1.9m, AuKing Mining is a very small company by global standards. It is quite likely to be unknown to most investors. It has a relatively high beta, suggesting it is fairly actively traded for a company of its size. Because it takes less capital to move the share price of a small company like this, when a stock this size is actively traded it is quite often more sensitive to market volatility than similar large companies.
Beta only tells us that the AuKing Mining share price is sensitive to broader market movements. This could indicate that it is a high growth company, or is heavily influenced by sentiment because it is speculative. Alternatively, it could have operating leverage in its business model. Ultimately, beta is an interesting metric, but there's plenty more to learn. In order to fully understand whether AKN is a good investment for you, we also need to consider important company-specific fundamentals such as AuKing Mining’s financial health and performance track record. I urge you to continue your research by taking a look at the following:
1. Financial Health: Are AKN’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out ourfinancial health checks here.
2. Past Track Record: Has AKN 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 AKN's historicalsfor more clarity.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Twitter Won't Block Rule-Breaking Tweets From Public Figures, But Will Warn You
Twitter Inc(NYSE:TWTR) said Thursday it will continue to allow the most-followed public figures to post content that would typically violate its abusive behavior rules, but will make it harder for offending tweets to gain traction and will require those who want to see the tweets to go through an extra step.
Whilethe companysaid the new method for dealing with rule-breaking tweets by public figures wasn’t aimed at any particular individual, President Donald Trump is among the Twitter users whose posts could be ffected aby the new practice.
The only tweets that will be subject to the new practice will be those from verified accounts by government officials or candidates for office who have more than 100,000 followers. Trump’s twitter account has more than 61 million followers.
The new method of trying to keep people from having to see tweets that break the company’s rules while still allowing them to be viewed is not retroactive.
How The New Rules Will Work
“There are certain cases where it may be in the public’s interest to have access to certain Tweets,” according to a blog post on Twitter's website.
Twitter’s stock price dipped after the company posted its announcement, but quickly rebounded.
Under the new practice, when politicians or public officials post a tweet that violates the company’s already-established abusive behavior rules, the tweet will be obscured in feeds.
The offending tweet will come with a note that the post violates the rules, but that it might be in the public interest to allow it to be viewed by those who want to see it.
“The Twitter Rules about abusive behavior apply to this Tweet,” the Twitter feed will say. “However, Twitter has determined that it may be in the public’s interest for the Tweet to remain available.” The user will then have to click through to view the tweet.
Certain rule-breaking tweets, such as threats of violence or calls for violence against a particular person, are still likely to be blocked and deemed “unlikely to be considered in the public interest,” the company said.
In addition to requiring users to “opt-in” to see the tweets that break the rules but are in the public interest, the company will also prevent the tweets from being “algorithmically elevated."
This is meant “to strike the right balance between enabling free expression, fostering accountability, and reducing the potential harm caused by these Tweets," according to Twitter.
Such tweets will not show up in recommended push notifications or some other promoted parts of Twitter, or on accounts using “safe search,” the company said.
“Given the conditions ... it’s unlikely you'll encounter it often,” Twitter said of the new warnings.
“We cannot predict the first time it will be used, but we wanted to give you more information about this new notice before you come across it on Twitter.”
Price Action
Twitter shares were down 1.42% at $34.75 at the close Thursday.
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
Why Conagra Brands, Patterson Companies, and Zynex Slumped Today
Thursday was a largely positive day on Wall Street, and most major indexes moved modestly higher. Small-cap stocks showed particularly sharp gains, highlighting the perceived likelihood of moves to help support the domestic economy even as multinational corporations remain under pressure from potential trade issues. Investors are increasingly looking forward to the G-20 summit over the coming weekend, with expectations that a trade deal could send the market soaring even further. Yet some stocks missed out on today's rally and lost ground.Conagra Brands(NYSE: CAG),Patterson Companies(NASDAQ: PDCO), andZynex(NASDAQ: ZYXI)were among the worst performers. Here's why they did so poorly.
Shares ofConagra Brands fell 12%after the food giant reported its fiscal fourth-quarter financial results. Sales soared 34% from year-ago levels, but all of that growth came from the acquisition of Pinnacle. After accounting for that purchase and the divestiture and sale of various other business units, organic net revenue was down 0.7%. CEO Sean Connolly also pointed to a tough promotional environment and manufacturing issues as holding back the company's growth. In the long run, Conagra sees its strategy working out well, and even though the food giant boosted its guidance for organic sales growth over the coming fiscal year, investors seemed disappointed with the challenges the company still faces.
Image source: Conagra Brands.
Animal health and dental products distributorPatterson Companies saw its stock fall 5%following its release of its fiscal fourth-quarter financial report. Revenue for the period came in 2.6% higher than in the previous year's quarter, with reasonably solid performance from both of its key business segments. Bottom-line gains of 24% on an adjusted basis were also encouraging, but investors had hoped for an even larger earnings jump of about 30%. Moreover, Patterson's guidance for the coming fiscal year was a bit weaker than most of those following the company had expected. With Patterson stock still down by half since 2017, the company needs to boost its business quickly to regain investor confidence.
Finally, shares of Zynex plunged 17%. The high-flyingmedical device companyfiled a prospectus with the U.S. Securities and Exchange Commission, allowing its selling stockholders to sell roughly 16.7 million shares. Zynex itself won't receive any proceeds from the offering, instead giving CEO Thomas Sandgaard an opportunity to sell off roughly half of the 31.6 million shares he directly or indirectly holds. Zynex stock had doubled just since late April on hopes that its non-invasive medical devices for pain management will gain acceptance, but shareholders seem worried that the move to sell means that Sandgaard won't be as interested in the business going forward.
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Nike shelves sneaker release after designer speaks out on Hong Kong
Nike (NKE), the brand that encourages people to "Believe in something, even if it means sacrificing everything," recently scrapped a sneaker release in China due to the shoe designer's political beliefs.
During recent protests in Hong Kong, designer Jun Takahashi — founder of the "punk-centric" UNDERCOVER brand — took to Instagram to show his support for protestors, posting a photo of them with the caption, “no extradition to China.” Following a backlash on social media, the Financial Times reported that Takahashi deleted the post from the Undercover site saying it was an “individual opinion” shared by mistake — and Nike axed the shoe’s release.
“Based on feedback from Chinese consumers, we have withdrawn from China a small number of products that were designed by a collaborator,” a Nike spokesperson told Yahoo Finance.
Takahashi founded Undercover in 1993 and has collaborated with NIke since 2009, including the popular Undercover x Nike Daybreak collection released on June 7. The collection adds a futuristic flair to the classic Nike 1980’s running shoe silhouette.
Urban Necessities founder Jaysse Lopez told Yahoo Finance that the incident “was not a good look” for Undercover but that Nike will invariably recover from any negative feedback it received for pulling the shoe.
China is a big market for Nike. Last quarter, the company pulled in$1.6 billionfrom the country. And according to Cowen, Greater China will likely be a significant contributor to Nike’s growth over the next five years.
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at@ReggieWade.
Read more:
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• 4 out 5 top selling Nike products cost more than $130The hottest resale sneakers by state
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• Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit. |
Mike Novogratz: Bitcoin Will Stabilize Between $10,000 and $14,000
Galaxy Digital founder and crypto enthusiastMike Novogratzhas predicted that Bitcoin’s (BTC) price will stabilize between $10,000 and $14,000, in aninterviewwith CNBC on June 27.
Delivering his comments on CNBC’s Squawk Box show, Novogratz forecast that the leading digital currency will consolidate in the corridor between $10,000 and $14,000. Referring to Facebook’s entry into crypto with Libra, Novogratz said:
“One of the largest companies in the world said we believe incryptocurrencies. [...] If you’re an institutional investor who’s getting close and still worried about investing, it makes you that much more confident.”
Novogratz’s comments follow Bitcoin’s pricefallby $1,400 yesterday, June 26. Bitcoin lost the figure within minutes after a crash ofUnited States-based cryptocurrency trading platformCoinbase.
The crash came on the heels of yesterday’s rally in which Bitcoin surpassed both the$12,000and$13,000price marks in a matter of hours.
Novogratz also commented onFacebook’sforthcoming stablecoinLibra, saying that “The Libra association will have a hundred votes, so it will be distributed. Maybe not decentralized. They plan on decentralizing over time.” Novogratz further added:
“What is tricky is the Facebook wallet which is where they will make their money. It will probably be a large part of commerce that is done on that blockchain.”
On May 31, Novogratzstatedthat “on a go-forward basis, Bitcoin probably consolidates somewhere between $7,000 and $10,000,” and added:
“If I’m wrong on that, I think I’m wrong to the upside, that there’s enough excitement and momentum that it could carry through.”
This week, many commentatorsarguedthat Bitcoin’s price surge was due to Facebook’s announcement of Libra; however Bitcoin was already trading above $9,000 when Facebook formally unveiled its Libra cryptocurrency protocol. Craig Erlam, a senior market analyst at the financial trading firm Oanda stated:
“Bitcoin has slowly – by its own standards – been rising in recent months but the launch of Facebook’s Libra has clearly been a catalyst for the recent surge.”
Other sources meanwhile agreed about Facebook’s limited role, but lacked faith in Bitcoin itself, Bloomberg calling current enthusiasm “the return of a speculative dream.”
• Bitcoin Breaks $13,000 As Rally Continues
• Google Searches for ‘Bitcoin’ Starting to Catch Up With $10K Euphoria
• Mike Novogratz’s Galaxy Digital to Launch Crypto Options Contracts Trading: Report
• Ripple CEO: Bitcoin and XRP Aren’t Competitors — I’m Long BTC |
Truckers, loggers circle Oregon Capitol amid climate fight
SALEM, Ore. (AP) — A parade of trucks and tractors circled the Oregon Capitol on Thursday in support of Republican lawmakers who have walked out to block emissions-lowering climate legislation in a political crisis that stretched into an eighth day.
All 11 Republican senators were once again missing from the Statehouse, denying Democrats the numbers to vote on the plan that would be the second in the nation to cap and trade pollution credits among companies.
Despite assurances from the Democratic Senate president that the measure doesn't have enough support to pass, Republicans stayed away. They say conservative voices weren't included when crafting the legislation and that the "job killing and truly life altering bill" should be sent to voters for final approval.
Democrats have resisted sending the measure to the ballot because it could jeopardize an ambitious timeline to begin the emissions-cutting program by 2021.
Hundreds of farmers, loggers and truckers rallied at the Capitol in solidarity with the Republican senators, pushing them to stay away until the legislative session ends Sunday.
The climate plan has exposed lingering tensions between cities like Portland and more rural areas of the state. Rural residents say Democrats from urban areas don't understand their way of life.
"Who better takes care of this earth than you all do?" Andrew Miller, CEO of Stimson Lumber, said to a crowd of loggers and truckers. "Yet the policies that are being passed by the Legislature are going to disproportionally harm you and your families."
Miller announced in May that he would lay off at least 60 timber workers at a mill near Portland in anticipation of the climate legislation and other policies pursued by Democrats.
Democrats have made dozens of concessions to respond to concerns from conservatives and industry leaders, but they didn't go as far as conservatives had hoped.
Following the announcement that the proposal had lost support in the Senate, Democrats appear to have shifted gears and are now imploring Republicans to return to vote ondozens of measures caught up in the stalemate, including money to expand affordable housing and address the state's beleaguered foster care system.
"The Republicans are not standing against climate change, they're standing against democracy," Democratic Gov. Kate Brown told hundreds of climate protesters earlier this week. "We need to make sure that the legislative branch operates, and we need to make sure the Republicans come back and do their jobs."
Democrats say the legislation is critical to make Oregon a leader in the fight against climate change and will ultimately create jobs and transform the economy. It aims to dramatically reduce greenhouse gases by 2050 by capping carbon emissions and requiring businesses to buy or trade for an ever-dwindling pool of pollution "allowances." California has a similar program.
If the Oregon session ends, Brown is prepared to call a special session, but all legislation would have to be reintroduced — essentially starting from scratch. She has frozen agency budgets at current levels, delaying expected funding increases for higher education and the state's foster care system.
But Republicans — who have left the state to avoid taking a vote — say their walkout is worth it despite the governor sending state police to round them up and getting fined $500 a day. The protesters at the Capitol agreed.
"They are doing exactly what we want them to do," said Tkeisha Wydro of McMinnville, northwest of Salem. "The senators who walked out have incredible integrity and have the full support of rural Oregonians." |
Pricing Is Still a Big Problem for Micron
Shares of memory chip manufacturerMicron Technology(NASDAQ: MU)soared on Wednesdayafter the companybeat estimates for its fiscal third quarterand provided an optimistic view of demand for the rest of the year. The rally doesn't make much sense, though, given the pricing problems Micron is still facing.
The market ignored the fact that Micron's earnings guidance was terrible. The company expects adjusted earnings per share to be cut in half in the fourth quarter compared with the third quarter. Those weak earnings will be driven by continued price declines, a result of persistent oversupply. While inventory levels at customers are improving, Micron's own inventory levels have ballooned.
"Over the last few months, customer inventory improvements have progressed largely in line with our expectations in most end markets," said CEO Sanjay Mehrotra during thethird-quarter earnings call. The company expects healthy year-over-year growth in DRAM bit demand in the second half, along with improvements in NAND bit demand.
But that excess inventory hasn't vanished -- it's shifted from consumer to producer. "Even as customer inventory levels of DRAM and NAND improve across most end markets, producer inventory levels are elevated," Mehrotra said. Micron had $4.9 billion on inventory on its balance sheet at the end of the third quarter, up 11.7% from the second quarter, and up 36.4% from the prior-year period. That's despite revenue being down 38.6% year over year.
Image source: Micron.
Bit demand needs to rise significant just for inventory to stop piling up. The company expects the inventory situation to look better by the end of the year, but it probably won't be back to normal, according to CFO David Zinsner, who said, "We think we'll be in a relatively good spot by the end of the calendar year, may not be at quote-unquote optimal levels, but certainly in a healthier place ... "
While the market focused on Micron's prediction of rising bit demand, the company's overall outlook actually got worse over the past three months. "Although previously announced [capital expenditure] cuts will start to impact industry supply in the second half of the calendar year, our assessment is that further cuts in capex and bit supply will be required to return the industry to a healthy supply-demand balance," Mehrotra said.
Micron is doubling its NAND wafer start reduction from 5% to 10%, and it's cutting its capital expenditure outlook for fiscal 2020. Micron had previously reduced its fiscal 2019 capex outlook from $10.5 billion to $9 billion. The company now expects fiscal 2020 capex to be "meaningfully lower than fiscal 2019."
Micron's capex cuts imply that fiscal 2020 will be another tough year for the memory markets, at least in the beginning. If Micron were confident that this downturn was almost over, it wouldn't be slashing capex for next year. Eventually, capex cuts will help end this period of oversupply. But it will likely be at least a few more quarters before that begins to happen.
While Micron will ship more bits in the second half of the calendar year, its margins are going to keep getting worse as long as prices continue to fall rapidly. The company expects an adjusted gross margin of 29% in the fiscal fourth quarter, down from 39.3% in the third quarter, despite the expected improvements in demand.
The bottom line: It still looks like the worst is yet to come for Micron.
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Timothy Greenhas 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. |
Grin Developers Agree to Alter Technical Development Roadmap
The privacy-oriented Grin token held a developers’meetingwhere they agreed to hold off on making changes to planned proof-of-work updates for the foreseeable future.
In a move intended to give ASIC manufacturers a return on investment on the chips they have already built, a previously scheduled phase out of Cuckatoo32s chips will be delayed until past 2021.
After a public turnaround on the viability and inevitability of single chip ASICs – citing the improvements to heat density, lowered upfront costs, and potentially reduced electrical costs – of the technological usurpation, Grin is no longer supporting the mass-market miners that were compelled by market forces to run GPUs.
Related:‘Hard Core Fund’ Collects 50 BTC to Support Bitcoin Developers
The team had originally pledged to keep single chip ASICs “at bay,” but now that Grin-specific ASICs, differentiated by the SHA256 ASICs, have advanced to a position of market dominance and affordability, the team has committed only to eliminate Cuckatoo31s from the roster.
“In short, preventing single chip ASICs no longer seems worthwhile or feasible, but an earlier version of me thought it was, which had led me to the phase-outs,” wrote Grin developer John Tromp.
Three foundries, Samsung, TSMC, and Intel should be able to produce the increasingly efficient Cuckatoo32 ASICs, said Tromp, whose backing hopes will provide the manufacturers with the confidence to continue production.
Tromp is “90 percent” certain the C32s are ready for deployment, but noted if “in [the] worst case, primary graphrate will fall, and GPU miners will be happy to pick up slack with secondary.” All that is certain is that, “c31 phaseout is a foregone conclusion.”
Related:ConsenSys Launches ‘Jobs Kit’ to Help Devs Enter the Blockchain Industry
He wrote toCoinDesk, Cuckatoo31s, “currently have a weight of 2^8*31=7936, will see this weight linearly reduced starting around Jan 15, 2020, over the coarse of 31 weeks, to 2^8*0 = 0, at which point it’s effectively gone, leaving only C32.”
The developers also noted that in time if reason arises to decouple Cuckatoo31s, a simple code upgrade will enable Cuckatoo33s to supplant the outdated technology. Though this decision would also be delayed by an 18 month period of deliberation.
Prominent developer Yeastplume said, “First, as you know, 2.0.0 is just around the corner, which is our first scheduled hard fork (or you can call it a ‘network upgrade’ if you prefer). Fortunately for our current situation, this is a forced upgrade, which means that all users of Grin will have to upgrade their software to the 2.0.0 release.”
Yeastplume’s efforts to ensure adoption come after months of incompatibility within the network caused by a previous update that did not receive total adoption. “For whatever reasons many users and particularly exchanges haven’t been keeping up with the latest versions of Grin,” he wrote, which caused miscommunication between Grin and their wallets.
To ensure complete compliance, Yeastplume said that, “all current versions of Grin will stop working as of the HF block in a few weeks,” hoping it won’t come as a surprise when user’s nodes quit.
He also motioned towards coming changes in governance structure, including a request-for-comments period that seeks more community involvement, as well as slower roll outs of planned upgrades.
Additionally, he said the 2.0.0 code is “much better at doing version checks and the software should be better at explicitly informing users of potential incompatibilities, which we hope will greatly help when we do have to introduce new features to support upcoming technologies.
Christine Kim contributed reporting to this article.
Image via CoinDesk archives
• All of It Dark, All of It P2P: After the Binance Hack, Bitcoin Doesn’t Cut It
• Ethereum 2.0’s Nodes Need to Talk – A Solution Is ‘Hobbits’ |
80% of small business owners feel prepared for recession: survey
A new survey says 80% of small business owners feel they are well prepared in the event the U.S. economy falls into a recession.
The data, collected by online small business lender, Kabbage, shows a vast majority of entrepreneurs are actively taking steps to increase cash flow and reduce costs as they strengthen their operations in case of a downturn.
“A number of the respondents went through the recession in 2008 and 2009,” Kabbage Chief Revenue Officer Laura Goldberg told Yahoo Finance. “They were probably much slower to recover than the rest of the market and they really understood what happened there and what they could’ve done differently.”
“Some [entrepreneurs] just know where they can get capital if they needed it or what they could do in the event of a slowdown… Small businesses have so many more options to access capital or working capital and other needs than they did 10 to 15 years ago and they are becoming more familiar with those options. They understand what they need to do.”
Despite many economists warning of an imminent recession, confidence among small business owners has never been higher. According to the National Federation of Independent Business, small business optimism touched “historically high” levels in May, with the closely watched NFIB Index hitting 105.0, rising 1.5 points from the previous month.
“The grit and resilience of small business owners is admirable. Despite the growing fears of economists and Wall Street, entrepreneurs are ready to rise to the challenge,” Goldberg said.
Kabbage, which polled more than 500 small businesses in the U.S. across different industries, said 33% of the businesses said they are growing their customer base, securing more contracts or expanding sales, while 21% are launching new products or services in an effort to increase revenue and 13% are pursuing business partnerships to sell to a wider customer base to increase cash flow.
“The data demonstrates how every small business is unique and how market shifts impact them individually,” said Goldberg. “The constant among them is their confidence to build their business and pursue their passion despite any hurdle.”
Nick Rose is a producer for Yahoo Finance.
Read the latest financial and business news from Yahoo Finance
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Jake Gyllenhaal's love for Sean Paul delights the internet
Never say these words to Jake Gyllenhaal , at least if you want him to like you: “I think Sean Paul is massively overrated.” Gyllenhaal shut down a caller who uttered those exact words Thursday on a BBC Radio 1 segment called “Unpopular Opinion.” The Zodiac star disagreed swiftly and fiercely. Jake Gyllenhaal is a Sean Paul fan. (Photo: Gregg DeGuire/WireImage) “Nope, absolutely… just, just hang up on him,” insisted Gyllenhaal, who appeared alongside Tom Holland to promote the upcoming movie Spider-Man: Far From Home . “Sean Paul makes every song better he’s in. Absolutely… he’s a genius. There’s not a song he’s on, a remix that he’s on that isn’t good. I totally disagree.” To illustrate his point, Gyllenhaal clapped along to the beat of Paul’s signature song, “Get Busy,” as it played in the background. When Sia’s “Cheap Thrills,” on which Paul is featured, came on, the actor gave an exaggerated, “Come on!” “He makes driving fun!” Gyllenhaal argued. “I don’t care what you’re doing. You could be stuck in traffic and he comes on and then you wanna dance. Doesn’t matter.” The Jamaican rapper and singer was delighted by Gyllenhaal’s words. GIVE TANX AN BLESS UP YUHSELF JAKE!!! #MADPEOPLETINGDEYSHOULDKNO https://t.co/FBqEuyecFn — Sean Paul (@duttypaul) June 27, 2019 He also shared the BBC’s post about the interview, with some kind words for his famous fan. BIG UP @BBCR1 N RESPEC #JAKEGYLLENHAAL 4 DI LUV N SUPPORT!!! PREE DIS: https://t.co/tCto9E3oJd — Sean Paul (@duttypaul) June 27, 2019 The internet predictably enjoyed this factoid about Gyllenhaal’s musical preferences and his passion for it. It made people’s days. Story continues As a Jamaican woman, seeing Jake Gyllenhaal defending Sean Paul has honestly made my day pic.twitter.com/f4DUXbZRqA — Khande♥♥ (@its_khande) June 27, 2019 I Can't Get Over Jake Gyllenhaal Raving About Sean Paul For Two Minutes Straight https://t.co/Z8kPjaxyU4 #buzzfeednews pic.twitter.com/XutoH2PRAw — Virtual Paparazzi (@Paparazzi4U) June 27, 2019 Now I need a Carpool Karaoke with Jake Gyllenhaal singing Sean Paul songs only https://t.co/JFGaTE1vFU — ☆ LUNA ☆ (@IamGru8) June 27, 2019 this is now a jake gyllenhaal feat. sean paul stan account pic.twitter.com/vt3skfRlOI — hannah chambers (@hanchambers) June 27, 2019 Jake Gyllenhaal doing Sean Paul ad libs is guaranteed to brighten up your day. pic.twitter.com/WTUFif05EO — Amon Warmann (@awarmann) June 27, 2019 Jake Gyllenhaal's Enthusiastic Love For Sean Paul is So Pure https://t.co/1UUUsfAfru pic.twitter.com/mLIqghp674 — Sara Johnson (@sarajohnson983) June 27, 2019 I had no idea Jake Gyllenhaal was so passionate about Sean Paul but HE'S RIGHT. https://t.co/oygxhD1Xrz — Sage Young (@sageyoungest) June 27, 2019 What seemed to go overlooked is the fact that Holland also called Paul a genius. Read more on Yahoo Entertainment: Items from Disneyland's 'Star Wars': Galaxy's Edge are popping up on resale sites Beth Chapman's daughter Bonnie pays tribute to her late mom: 'So thankful I got your beautiful smile' HGTV viewers beg network to stop doing business with Wayfair: 'They are profiting from children in cages' Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter. |
Acacia Coal (ASX:AJC) Shareholders Booked A 100% Gain In The Last Year
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Passive investing in index funds can generate returns that roughly match the overall market. But if you pick the right individual stocks, you could make more than that. For example, theAcacia Coal Limited(ASX:AJC) share price is up 100% in the last year, clearly besting than the market return of around 5.4% (not including dividends). That's a solid performance by our standards! Unfortunately the longer term returns are not so good, with the stock falling 33% in the last three years.
See our latest analysis for Acacia Coal
Acacia Coal recorded just AU$75,322 in revenue over the last twelve months, which isn't really enough for us to consider it to have a proven product. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. It seems likely some shareholders believe that Acacia Coal will discover or develop fossil fuel before too long.
We think companies that have neither significant revenues nor profits are pretty high risk. There is almost always a chance they will need to raise more capital, and their progress - and share price - will dictate how dilutive that is to current holders. While some such companies go on to make revenue, profits, and generate value, others get hyped up by hopeful naifs before eventually going bankrupt. Of course, if you time it right, high risk investments like this can really pay off, as Acacia Coal investors might know.
Acacia Coal has plenty of cash in the bank, with cash in excess of all liabilities sitting at AU$2.7m, when it last reported (December 2018). This gives management the flexibility to drive business growth, without worrying too much about cash reserves. And with the share price up 100% in the last year, the market is focussed on that blue sky potential. You can click on the image below to see (in greater detail) how Acacia Coal's cash levels have changed over time. You can see in the image below, how Acacia Coal's cash levels have changed over time (click to see the values).
Of course, the truth is that it is hard to value companies without much revenue or profit. Given that situation, many of the best investors like to check if insiders have been buying shares. It's usually a positive if they have, as it may indicate they see value in the stock. Luckily we are in a position to provide you with thisfreechart of insider buying (and selling).
Investors should note that there's a difference between Acacia Coal's total shareholder return (TSR) and its share price change, which we've covered above. Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Acacia Coal hasn't been paying dividends, but its TSR of 167% exceeds its share price return of 100%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.
We're pleased to report that Acacia Coal shareholders have received a total shareholder return of 167% over one year. There's no doubt those recent returns are much better than the TSR loss of 8.0% per year over five years. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. You might want to assessthis data-rich visualizationof its earnings, revenue and cash flow.
But note:Acacia Coal may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with past earnings growth (and further growth forecast).
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Famed Apple designer Jony Ive is leaving to start his own firm
In an interview with theFinancial Times, Jony Ive announced that after more than two decades of making Apple products look and feel the way they do, he's leaving the company. His new venture is called LoveFrom, and it will have Apple as its first client. His role with Apple has shifted slightlyover the last few years, although as recently as 2017 Applestated that his focusremained "purely on design."
Ive's impact can be seen on everything from the company's new "spaceship"Apple Parkcampus, to individual devices (iPod, Mac, iPhone -- everything) since he was promoted after Steve Jobs' return in 1997. As much as you know him through the experience of using the devices, he's also become familiar to us for hisvoiceoverswhenever Apple launches a new product, describing the design process and attention to detail.
As far as why he's leaving now, he toldFTthat "There were some significant projects that I feel like I've completed. For example Apple Park — this was a project that started in 2004 . . . A couple of weeks ago we had our official opening of the Park." At LoveFrom -- he linked the name to a quote from Steve Jobs about making things with love and care for people you'll never meet -- he'll continue to work with Australian designer Marc Newson, as well as a collection of creatives "from around the world that come from quite diverse areas of expertise."
In astatement, Apple said that "While he pursues personal projects, Ive in his new company will continue to work closely and on a range of projects with Apple." Once his transition is complete later this year, then VP of industrial design Evans Hankey and VP of Human Interface design Alan Dye will report directly to Apple COO Jeff Williams. The companyalso announceda new senior VP of operations, Sabih Khan. Khan is a 24-year Apple veteran, who will be in charge of the company's global supply chain.
Apple CEO Tim Cook said "Jony is a singular figure in the design world and his role in Apple's revival cannot be overstated, from 1998's groundbreaking iMac to the iPhone and the unprecedented ambition of Apple Park, where recently he has been putting so much of his energy and care."
"Apple will continue to benefit from Jony's talents by working directly with him on exclusive projects, and through the ongoing work of the brilliant and passionate design team he has built. After so many years working closely together, I'm happy that our relationship continues to evolve and I look forward to working with Jony long into the future." |
Rise Gold Announces Results from Annual General Meeting
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2019) - Rise Gold Corp. (CSE: RISE) (OTCQB: RYES) (the "Corporation") is pleased to announce that all proposed resolutions were passed at the Corporation's annual general meeting of shareholders held on today's date.
Benjamin Mossman, Thomas Vehrs, John Proust and Murray Flanigan were all elected as directors of the Corporation for the coming year and Davidson & Company LLP were re-appointed as auditors of the Corporation for the ensuing year.
Newly elected, Mr. Flanigan is a management consultant providing financial advisory services to a number of public and private oil and gas, mining and technology companies in North America and abroad. Mr. Flanigan is a Chartered Accountant and a Chartered Financial Analyst with expertise in corporate finance, mergers and acquisitions, international taxation, risk management, banking, treasury, corporate restructuring and accounting, and has served as Chief Financial Officer for various public and private companies. Mr. Flanigan is currently a Managing Principal of Kepis & Pobe Financial Group Inc. and a key member of its executive management team responsible for the negotiation and closing of numerous recent large scale oil & gas transactions in West Africa, offshore Guyana and the Middle East. Prior to founding his own consulting company, Mr. Flanigan served as Senior Vice President, Corporate Development and CFO of Qwest Investment Management Corp., where he was responsible for regulatory reporting and corporate filings for over 15 private and publicly listed companies and limited partnerships in Qwest's portfolio, as well as arranging and closing numerous equity and debt financings. Mr. Flanigan also served as VP Corporate Development for Adelphia Communications Corporation, overseeing the company's financial restructuring and ultimate sale to Time Warner Inc. and Comcast Corporation for approximately US$18 billion.
About Rise Gold Corp.
Rise Gold is an exploration-stage mining company. The Company's principal asset is the historic Idaho-Maryland Gold Mine located in Nevada County, California, USA. Past production of the Idaho-Maryland for the period from 1866 to 1955 is estimated at 2,414,000 oz of gold at an average mill head grade of 17 gpt gold. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available onwww.sedar.com.Rise Gold is incorporated in Nevada, USA and maintains its head office in Vancouver, British Columbia, Canada.
On behalf of the Board of Directors:
Benjamin MossmanPresident, CEO and DirectorRise Gold Corp.
For further information, please contact:
RISE GOLD CORP.Suite 650, 669 Howe StreetVancouver, BC V6C 0B4T: 604.260.4577info@risegoldcorp.comwww.risegoldcorp.com
The CSE has not reviewed, approved or disapproved the contents of this news release.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/45966 |
Jony Ive, designer of the iPhone, is leaving Apple
Apple’s (AAPL) Chief Design Officer Jony Ive is stepping down from the tech giant.
“Jony is a singular figure in the design world and his role in Apple’s revival cannot be overstated, from 1998’s groundbreaking iMac to the iPhone and the unprecedented ambition of Apple Park, where recently he has been putting so much of his energy and care,”Apple CEO Tim Cook saidin a statement.
Ive will be striking out on his own to create his own design firm called FromLove. He isn’t leaving Apple’s orbit entirely, though. In aninterview with the Financial Times, Ive said that Apple will be FromLove’s first client.
“After nearly 30 years and countless projects, I am most proud of the lasting work we have done to create a design team, process and culture at Apple that is without peer,” Ive said.
Ive is responsible for crafting the first iMac in 1998, which, with its clear body and all-in-one design, helped put Apple on the map as a design powerhouse. From there, Ive went on to sculpt the iPod, which helped revolutionize portable music at a time when CD players were still the go-to device for listening to music.
But Ive's most influential contribution to the company was by far the original iPhone, which launched in 2007. The device has gone on to be Apple's most important product and helped shape the smartphone industry as we know it.
Ive typically shies away from the public eye, even during Apple launch events where he generally is only heard via a voiceover in videos revealing new products. He made a brief appearance at Apple's Worldwide Developers Conference in June to show off the company's new Mac Pro desktop.
Ive’s announcement comes at a transformative time for Apple. The company, which thrived thanks to the sale of the iPhone, is now turning toward services as global smartphone sales stagnate.
In March, the company announced itsApple TV+ streaming service, which serves as a competitor to the likes ofNetflix, Disney+, Amazon Prime Video, and Hulu. The tech giant also announced a new News+ services, as well as an upcoming gaming service called Apple Arcade.
The last new piece of hardware Apple released was the AirPods, which have become a runaway success for the company. Prior to that Apple launched its Apple Watch.
Ive will be replaced by vice president of Industrial Design, Evans Hankey, and vice president of Human Interface Design, Alan Dye, who the company said will report to Chief Operating Officer Jeff Williams.
“Both Dye and Hankey have played key leadership roles on Apple’s design team for many years. Williams has led the development of Apple Watch since its inception and will spend more of his time working with the design team in their studio,” the company said in a statement.
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Read more:
• Zuckerberg defends Facebook's decision to keep up Pelosi ‘deepfake’ video
• Lenovo’s and Google's Smart Alarm Clock might make you hate mornings less
• Tim Cook on tech: ‘If you built a chaos factory, you can’t dodge responsibility for the chaos.’
• How Huawei’s loss could be Apple’s gain
Email Daniel Howley at dhowley@yahoofinance.com; follow him on Twitter at@DanielHowley.
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. |
Apple’s Latest Acquisition Shows Self-Driving Cars Are in the Doldrums of Disappointment
Apple’s recentacquisition of autonomous vehicle startup Drive.aithrows a monkey wrench into the theory that it had backed away from an existing self-driving car initiative, known as Project Titan.
Early this year, Apple laid off190 Project Titan staffers, including more than 100 engineers. But now Apple is bring on more engineers from Drive.ai, along with the startup’s fleet of self-driving orange vans and, presumably, its patents and other intellectual property.
On that basis, the buyout has been framed as a sign of Apple’s renewed interest in autonomous driving. But in fact, the deal highlights just how rough things currently are for autonomous vehicles, both as a technology and as a business proposition.
For a start, this was the most fiery of fire sales: Drive.ai had already filed notice with California that it would shut down, and had in fact, according to news site Axios, alreadyceased operations. Apple will reportedly pay less for Drive.ai than the $77 million in venture capital already sunk into the operation, and far less than the $200 million peak valuation that the startup reachedin 2017.
That decline coincides with the growing realization that autonomous vehicles won’t be ready for widespread use anytime soon. For example, Tesla CEO Elon Musk haddeclared in 2015that his company’s vehicles would be fully autonomous as of last year. But Tesla’s cars are still nowhere near fully autonomous.
Drive.ai’s planned shutdown came amid an apparent retrenchment of that company’s ambitions. The startup had previouslypartnered with Lyftto explore self-driving taxis, and worked on technology toretrofit large fleetsof conventional cars for autonomy.
But Drive.ai’s most prominent recent initiative was automated mass transit – those orange mini-buses, which operate under tightly controlled circumstances that reduce the risk of accidents. In Frisco, Tex., those vans shuttled riders between two fixed locations (the service wasscuttled in March).In Arlington, Tex., the company’s buses are currently used for making flexible loops through a roughly one-square-mile cluster of stadiums, expo centers, and hotels.
It seems increasingly clear that such limited routes, rather than freewheeling cross-country robo-journeys, epitomize the real, unsexy near-term potential for driverless vehicles. Other startups like Optimus Ride and Voyage have operated services either onfixed routes, or in sedate and predictable settings likeretirement communities. EvenAlphabetspinoff Waymo limited the ‘launch’ of its commercial robotaxi service to a few handpicked customers on the tidy suburban streets ofChandler, Az.
Apple, which has never publicly discussed its work on self-driving cars, did not respond to inquiries byFortuneabout the Drive.ai acquisition or the fate of Drive.ai’s Arlington service.
Limiting the area in which self-driving vehicles operate significantly reduces the number of so-called “edge cases” that provide the biggest challenges for the computing systems behind autonomous driving. Edge cases, as described in aseminal 2017 essayby MIT roboticist Rodney Brooks, include stopped trucks or other obstructions, road changes that aren’t reflected on maps, or police presence.
These unexpected disruptions are like Kryptonite to autonomous driving systems because, like all artificial intelligence, they lack the complex ‘general intelligence’ that makes humans so adaptable (if unreliable) behind the wheel. When (or whether) artificial general intelligence will be realized remains hotly debated, but most informed projections put its arrivaldecades into the future.
Despite the grandiosity of the Project Titan moniker, Apple has been operating along similar, cautious lines for years. Recent reports have posited that Apple is building anelectric van, the same basic design as Drive.ai’s vehicles. More substantively, Apple was reported last year to have partnered with Volkswagen to convert some of the automaker’s electric vans into self-driving employee shuttles—a modest proposal which theNew York Timesat the time said was already “behind schedule and consuming nearly all of the Apple car team’s attention.”
The Drive.ai acquisition, then, is hardly a rekindling of Apple’s autonomous ambitions. From its reported discount price tag to the glorified shuttle buses at its heart, the deal instead points to dashed hopes, hedged bets, and the continued shrinking scope of the erstwhile Project Titan. Apple may have added Drive.ai’s engineers to its roster primarily to get their specific experience with automated, fixed-route transit.
Apple, then, may no longer be trying to build the iPhone of cars. That would be a disappointment for investors because selling private cars to households has much more potential upside than selling vans to cities and retirement communities. But for society as a whole, low-speed, low-risk autonomous mass transit may in fact be a rosier mid-term scenario.
Though not conclusive, studies have projected that individual self-driving cars couldmake traffic congestion worse. Another found they’ll reduce carbon emissions and climate change—butonly if the vehicles are sharedby several riders.
With that in mind, autonomous shuttles for senior citizens may be more exciting than they seem. |
Richard Dreyfuss Claims 'Irish Drunken Bully' Bill Murray Threw an Ashtray at Him on 1991 Movie
Richard Dreyfuss is recalling a scary alleged incident he had on set with Bill Murray . The two actors worked together on 1991’s What About Bob? , but in a new interview with Yahoo , Dreyfuss claims the funnyman wasn’t as easygoing as he seemed in real life. Dreyfuss, 71, told the outlet about the time Murray, 68, allegedly got violent after a dinner where he had been drinking. “I didn’t talk about it for years. He was an Irish drunken bully, is what he was,” Dreyfuss said. “He came back from dinner [one night] walked in and I said, ‘Read this [script tweak], I think it’s really funny.’ And he put his face next to me, nose-to-nose. And he screamed at the top of his lungs, ‘Everyone hates you! You are tolerated!’ ” Richard Dreyfuss has some unfond memories of working with Bill Murray on What About Bob? He calls Murray a "drunken Irish bully" and told me Murray screamed in his face and tried to hurl a glass ashtray at his head. Our full #RoleRecall interview here: https://t.co/A7d9oObJPN pic.twitter.com/ZHFnxk2TZf — Kevin Polowy (@djkevlar) June 26, 2019 RELATED: Selena Gomez Reveals What Bill Murray Whispered to Her at the Cannes Film Festival He continued, “There was no time to react, because he leaned back and he took a modern glass-blown ashtray. He threw it at my face from [only a couple feet away]. And it weighed about three quarters of a pound. And he missed me. He tried to hit me. I got up and left.” What About Bob? follows Murray as an irritating patient who hunts down his egotistical psychiatrist (Dreyfuss) while he’s on vacation and befriends the whole family, slowly rendering him insane. Story continues Earl Gibson III/Getty; Stephane Cardinale - Corbis/Corbis via Getty The interview has Dreyfuss reminisce on old roles, including the 1975 blockbuster Jaws . Although the thriller has become one of the most iconic movies of all time, Dreyfuss said he didn’t think it was that great when they were filming. “Everyone had thought they had struck gold, and I said, ‘What are you talking about? It’s just a little movie,’ ” Dreyfuss admitted. “So when the film was released, I found myself going back to the talk shows and saying ‘I’m the guy who didn’t believe in it.'” |
US government seeks part of Oklahoma's $270M opioid deal
OKLAHOMA CITY (AP) — The U.S. government wants a portion of Oklahoma's $270 million settlement with Purdue Pharma that stemmed from the state's ongoing lawsuit against opioid makers. The U.S. Centers for Medicare and Medicaid Services wrote to the head of Oklahoma's Medicaid agency that it has determined the federal government is entitled to part of Oklahoma's proceeds. The June 12 letter from CMS' regional director Bill Brooks also seeks detailed information from the Oklahoma Health Care Authority and warns that failure to return a portion of the settlement money could result in the withholding of federal funds. Medicaid is jointly funded by the federal government and states. Details of the letter were first reported Thursday by The Washington Post. The Oklahoma Health Care Authority requested a 90-day extension from CMS to provide the federal agency with the requested information, and that request was granted this week, giving the state until Oct. 12 to provide its response. A spokesman for Attorney General Mike Hunter says his office is reviewing the CMS request. Spokesman Alex Gerszewski also said the federal government's request won't affect state revenue. It's not clear how much of the state's settlement the federal government is seeking or where the money would come from. Oklahoma's settlement in March with Purdue, the maker of OxyContin, and the company's controlling family called for nearly $200 million to go into a trust for the creation of a National Center for Addiction Studies and Treatment at Oklahoma State University in Tulsa. Private attorneys who handled the case for Oklahoma received about $60 million, while an additional $12.5 million was earmarked for local governments. CMS says it is entitled to a portion of the funds under a provision of the federal Social Security Act that applies to money recovered by the state. A CMS spokesman says anytime the agency becomes aware of a settlement that might involve a Medicaid overpayment, the agency works with states to determine what portion may need to be returned to the federal government. Story continues Federal agencies requesting a portion of such money is not unprecedented. In 2015, the federal government received half of a $1.375 billion settlement agreement with the rating agency Standard & Poor's Financial Services LLC, but in that case the U.S. Department of Justice was involved in the lawsuit, along with 19 states and the District of Columbia. The letter did not reference Oklahoma's $85 million settlement with Israeli-owned Teva Pharmaceuticals or the state's ongoing public nuisance lawsuit against consumer products giant Johnson & Johnson. Witnesses for the state have suggested the cost of abating the opioid crisis in Oklahoma could be as much as $17.5 billion over the next 30 years. The idea the state could be on the hook to pay millions of dollars to the federal government didn't sit well with Oklahoma state Rep. Mark McBride, R-Moore. "As far as I'm concerned, that's the state's money," said McBride, one of several lawmakers critical of the way the Purdue settlement was structured. "It seems like the federal government is seeing that the attorney general won with these two settlements, and now they have their hand out, and I think that's just wrong." After the Purdue settlement was announced, the Oklahoma Legislature approved a new law clarifying that any settlement proceeds go directly into the state treasury. ___ Follow Sean Murphy at www.twitter.com/apseanmurphy |
Stop Blaming Coinbase for That Bitcoin Price Collapse
The rumoron the streetis that Coinbasesuccumbing to technical difficultiesled to a significant $1,400 drop in theprice of Bitcoinacross the entire global cryptocurrency market.
If this is remotely true, that would mean too much of thecrypto marketrelies on a single outlet.
But can it be? Or did bears simply seize on the opportunity?
Every rise has its ups and downs on the way up. That’s just the way the market works.
You can’t blame an overall market incentive on one exchange going offline for a little bit.
Coinbasetypically carries a higher price than the rest of the market.
Their platform provides enormous liquidity for the US market, and retail sellers often cash out through them.
Read the full story on CCN.com. |
Snorkeler Dies After Being Attacked By Several Sharks In The Bahamas
A 21-year-old college student from California has died after she was attacked by three sharks while snorkeling with family in the Bahamas on Wednesday, according to reports. Jordan Lindsey was swimming off the coast of Rose Island, northeast of Nassau, when she was ambushed in the water just after 2 p.m., local authorities said. She was so caring. She loved all animals. Its ironic she would die getting attacked by a shark, her father, Michael Lindsey, said in a statement obtained by NBC Los Angeles . Jordan Lindsey, 21, died on Wednesday after being attacked by several sharks, authorities said. (Photo: GoFundMe ) Her family saw the sharks before the attack and called out to warn her, but Lindsey didnt hear them in time, Royal Bahamas Police Force Deputy Commissioner Paul Rolle told Local 10 . She was pulled from the water and taken to a hospital in New Providence where she was pronounced dead. Her injuries included bites to her arms, legs and buttocks as well as a severed right arm, Rolle said. Its not known what kind of sharks were involved in the attack, the Bahamas Ministry of Tourism said in a statement Thursday that expressed condolences to her family. Jace Holton, who had been snorkeling in the same area less than an hour before the attack, snapped a photo of a fairly large shark swimming past her boat that was shared by her brother on social media. A fairly large shark was photographed in the same area of the island just before the attack. (Photo: Jace Holton) Speaking to Los Angeles station KTLA , Holton recalled people rushing to help Lindsey without avail. Some of the people that were actually in the water at the time were describing how it was a pretty horrific scene, she said. Several of the workers ... had jumped in the water to help the girl. Lindsey was a communication studies major at Loyola Marymount University in Los Angeles, the schools president said. A 21-year-old woman has died after she was attacked by several sharks while snorkeling near Rose Island, pictured, in the Bahamas on Wednesday, authorities said. (Photo: Callestar via Getty Images) In addition to being a devoted animal lover and climate change advocate, she was a member of the Tau Sigma National Honor Society and the universitys Entrepreneurship Society, said President Timothy Law Snyder. Shark attacks are uncommon, and fatal ones are extremely rare. The global average of shark attack fatalities is just six per year, according to the International Shark Attack Files (ISAF) , a project of the Florida Museum of Natural History and the American Elasmobranch Society that documents shark attacks. Story continues The Bahamas, which had a single, nonfatal attack last year, has had just 28 shark attacks since the mid-1700s, according to the ISAF. Love HuffPost? Become a founding member of HuffPost Plus today. Related Coverage Humongous Great White Shark Pays 'Jaws'-Like Visit To Fishing Boat Shark Bites 8-Year-Old Boy In 3rd Attack In North Carolina This Month California Man Killed In Apparent Shark Attack While Swimming Off Maui State Department Confirms Another Tourist Death In Dominican Republic Maui Shark Victim Identified As Retired Optometrist Thomas Smiley This article originally appeared on HuffPost . |
Meghan McCain says there should have been subtitles during the Democratic debate
The co-hosts of The View had a lot to say about the first Democratic debate ahead of the 2020 election, including on one of the most buzzed-about aspects of the night: the use of Spanish by some of the candidates. Presidential hopefuls including Cory Booker and Beto O'Rourke addressed viewers partly in Spanish to share their views on the economy and immigration, which Meghan McCain felt should have been translated for non-Spanish speakers at home. “I don’t speak Spanish, and genuinely wanted to hear what they were saying, so I would like subtitles for the future,” said McCain. “I mean this genuinely. I don’t mean this facetiously. I couldn’t understand what they were saying, and apparently it was really important about taxes.” The co-hosts agreed that the move was made in an effort to appeal to Spanish-speaking voters. “If you think about it, Hillary in 2016, her turnout for Latinos was very, very poor and I think it may have cost her Florida,” said Sunny Hostin . “I think they understand how important the Latino vote is for them in the primaries.” The comment drew some light support from others on the panel, but viewers at home expressed mixed opinions via Twitter. Some agreed with McCain that an onscreen translation would have been helpful: I speak Spanish and I agree with Meghan that subtitles would have been a great idea!! — Patti Zamarron (@PattiZamarron) June 27, 2019 @MeghanMcCain @TheView I have found an area of agreement with you (other than huge respect for your father): Networks should have subtitles in English during debates as I also want to know what they are saying. Said exactly that last night. — Charlotte Diener (@DienerCharlotte) June 27, 2019 I agree that subtitles are needed when speaking Spanish or at least say after what you were saying — Sandria Soffa (@Sandria_1) June 27, 2019 Others disagreed with the request for a translation, and some even felt McCain wasn’t paying attention: Story continues Meghan McCain on @TheView complaining about not understanding the 5 seconds of elementary Spanish spoken on #DemDebate & wanting subtitles is just...🤦🏼♀️🙄That’s enough day time TV for me — Karen Morales (@kmojournalist) June 27, 2019 @MeghanMcCain just for the record. Every time someone spoke Spanish they literally followed up translating in English what they had just said. For the future you don’t need subtitles. Just LISTEN. — Diane Lees🍑🍑🍑 (@dtheavenger) June 27, 2019 @MeghanMcCain - You White Privilege and Nepotism is in full force this morning! So what happens to the Spanish speakers when the candidate speak English? It’s always about you.... — Chris Dale (@cdale9ers) June 27, 2019 Olivia Munn criticizes white men who complain about having to watch what they say: Read more from Yahoo Entertainment: Meghan McCain invokes her father in comparing migrant detention centers, torture facilities Veteran meteorologist 'let go' from job after objecting to station's 'Code Red' weather alerts 'Fox & Friends' co-host Brian Kilmeade says crowd boos are 'not for Ivanka' Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter. |
Chilean teachers mark nearly a month since they began strike
SANTIAGO, Chile (AP) Esperanza Calixto can't really grasp why her teachers have been gone for nearly a month, though the 11-year-old knows they are on strike and classes have been canceled for hundreds of thousands of Chilean students like herself at public schools nationwide. "I just know it's bad because most teachers are skipping class," Calixto said at the Los Navíos public school on the outskirts of Chile's capital. Teachers began the walkout June 3. Their list of demands include the payment of a bonus, a salary adjustment promised to about 60,000 teachers nearly four decades ago, and the annulment of a measure that will change history and physical education to optional subjects for the last two years of high school beginning in 2020. Union leaders representing the teachers also complain about rat infestations and a lack of resources at public schools. Most Chilean children from poor backgrounds like Esperanza eat lunch at public schools, although she and her siblings have stopped taking the meal since the strike began because her family is concerned about hygiene. "The kids saw rats in the cafeteria where they sit to eat lunch," said Esperanza's mother, Roxana Urra. She also criticized the quality of education, saying Chile "is not ready for children of lower classes to attend university." Nearly 1.3 million children from underprivileged backgrounds attend free public schools in Chile. That is about a third of all students in the country. The rest attend private schools or other institutions and have a better chance at entering local universities. About 80 percent of Chile's 80,000 public school teachers have joined in the work stoppage, which affects about 1 million students, said Mario Aguilar, a strike leader. |
Update: Acacia Coal (ASX:AJC) Stock Gained 100% In The Last Year
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
If you want to compound wealth in the stock market, you can do so by buying an index fund. But you can significantly boost your returns by picking above-average stocks. To wit, theAcacia Coal Limited(ASX:AJC) share price is 100% higher than it was a year ago, much better than the market return of around 5.4% (not including dividends) in the same period. So that should have shareholders smiling. In contrast, the longer term returns are negative, since the share price is 33% lower than it was three years ago.
View our latest analysis for Acacia Coal
Acacia Coal recorded just AU$75,322 in revenue over the last twelve months, which isn't really enough for us to consider it to have a proven product. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. For example, they may be hoping that Acacia Coal finds fossil fuels with an exploration program, before it runs out of money.
We think companies that have neither significant revenues nor profits are pretty high risk. You should be aware that there is always a chance that this sort of company will need to issue more shares to raise money to continue pursuing its business plan. While some companies like this go on to deliver on their plan, making good money for shareholders, many end in painful losses and eventual de-listing. Of course, if you time it right, high risk investments like this can really pay off, as Acacia Coal investors might know.
Acacia Coal has plenty of cash in the bank, with cash in excess of all liabilities sitting at AU$2.7m, when it last reported (December 2018). This gives management the flexibility to drive business growth, without worrying too much about cash reserves. And given that the share price has shot up 100% in the last year, its fair to say investors are liking management's vision for the future. You can click on the image below to see (in greater detail) how Acacia Coal's cash levels have changed over time. You can click on the image below to see (in greater detail) how Acacia Coal's cash levels have changed over time.
It can be extremely risky to invest in a company that doesn't even have revenue. There's no way to know its value easily. One thing you can do is check if company insiders are buying shares. If they are buying a significant amount of shares, that's certainly a good thing. Luckily we are in a position to provide you with thisfreechart of insider buying (and selling).
We've already covered Acacia Coal's share price action, but we should also mention its total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Acacia Coal hasn't been paying dividends, but its TSR of 167% exceeds its share price return of 100%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.
We're pleased to report that Acacia Coal shareholders have received a total shareholder return of 167% over one year. There's no doubt those recent returns are much better than the TSR loss of 8.0% per year over five years. We generally put more weight on the long term performance over the short term, but the recent improvement could hint at a (positive) inflection point within the business. You might want to assessthis data-rich visualizationof its earnings, revenue and cash flow.
Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of companies we expect will grow earnings.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
What Happened in the Stock Market Today
Stocks traded in a narrow range on low volume Thursday, with major benchmarks closing with mixed results as investors look forward to trade news from the G-20 meeting this weekend. TheDow Jones Industrial Average(DJINDICES: ^DJI) posted a small loss and theS&P 500(SNPINDEX: ^GSPC) gained ground. Financials led the market, while energy was the only sector that fell.
Index Percentage Change Point Change Dow (0.04%) (10.24) S&P 500 0.38% 11.14
Data source: Yahoo! Finance.
As for individual stocks,Walgreens Boots Alliance(NASDAQ: WBA) reported strengthening sales in the U.S., andKB Home(NYSE: KBH) saw robust order growth.
Gains in Walgreens' U.S. pharmacy sales offset weakness in retail and in Boots stores in the U.K., and the stock rose 4.1% after the company's fiscalthird-quarter resultsbeat expectations. Sales increased 0.7% to $34.6 billion and adjusted earnings per share fell 4% to $1.47. Analysts were expecting the company to earn $1.43 per share on sales of $34.5 billion.
Pharmacy comparable sales grew 6%, a big improvement over the 1.9% gain last quarter, but gross margin fell 1.5 percentage points due to continued pressure on reimbursements. Comparable front-end retail sales dropped 1.1%, but that was also an improvement over a 3.8% decline last quarter. Comparable retail sales in the U.K. fell 2.6% in constant currency but pharmacy sales at Boots UK rose 0.8%.
Walgreens, coming offa terrible Q2, continues to integrate Rite Aid stores and close underperforming stores in the U.S. and the U.K., all while facing reimbursement headwinds. Investors were encouraged by improving domestic sales performance today, though.
Investors were braced formore bad newsfrom the homebuilding industry, but KB Home instead exceeded expectations for the second quarter and shares jumped 7.9%. Revenue fell 7.2% to $1.02 billion, beating the analyst consensus of $936 million. Earnings per share dropped 8.9% to $0.51, but Wall Street was expecting a 30% decline to $0.40.
Homes delivered increased 2% to 2,768, but the average selling price decreased 8% to $367,700 due to a shift to lower-cost communities. Housing gross profit margin adjusted to exclude inventory-related charges and amortization was 21.3%, steady fromthe previous quarter. Net orders grew a whopping 15% year over year.
On theconference call, KB Home said that sales strengthened from March to April to May, and that a higher backlog will improve revenue growth and profitability heading into 2020. It expects gross margin to improve 0.7 to 1.3 percentage points in Q3 compared with Q2, and further improvement in Q4. KB Home competes at the lower end of the price scale, and a shortage of homes for first-time buyers is creating solid market conditions for the company.
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Jim Crumlyhas 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. |
Man Learns the Hard Way That Mixing Pufferfish and Cocaine Is a Very Bad Idea
A combination of cocaine and toxic pufferfish liver sent a Florida man to the emergency room, according to a new case report. The liver from a pufferfish, also known as fugu, is considered a delicacy in Japan. But eating it is risky, as the fish's liver contains a high concentration of a deadly poison known as tetrodotoxin (TTX), which causes paralysis if ingested. "Pufferfish is something that you don't want to just catch and eat," said Dr. Zane Horowitz, medical director at the Oregon Poison Center at Oregon Health Science University, who was not involved with the man's case. "There are chefs in Japan who go through years of training on how to properly prepare this so that they don't kill their customers." [ In Photos: The Power of Poison Through Time ] TTX is 1,200 times more toxic than cyanide; far less than a teaspoon of it can kill a person. Once ingested, TTX blocks voltage-gated sodium channels in certain nerve cells. When these nerve cells are blocked, muscles can't contract. Symptoms of TTX poisoning range from tingling sensations, numbness, dizziness and nausea, to muscle weakness, trouble breathing, paralysis and death. Because there's no antidote to TTX, doctors often place patients on ventilators to help them breathe until the body excretes the poison. The 43-year-old man's case was more complex than a typical fugu-eater's, however. Over the past few days, he had ingested cocaine and eaten canned foods, which made his physicians wonder whether foodborne botulism was at play, too. The man had high blood pressure (possibly from his cocaine use) and chronic kidney disease, the doctors noted. When he came to the ER, the man was not in good shape; he was throwing up, had weakness and difficulty speaking, and said that he had stomach pain, tearing chest pain and numb legs. The man's grandmother, who had also nibbled on the pufferfish, came with him to the hospital. But because her fugu portion had been smaller, she had fewer symptoms: dizziness and leg weakness, the doctors said. Story continues Health care workers immediately gave the man medication to lower his high blood pressure and intubated him so that he would be able to breathe if the TTX paralyzed his breathing muscles. In case he had botulism, they also gave him botulinum antitoxin, the doctors reported. The man received medication that has been shown to help other people who had eaten bad fugu. However, his recovery wasn't straightforward; while in the intensive care unit the patient developed pneumonia and his kidney problems flared, requiring him to go on dialysis. "Eventually, the patient's respiratory failure resolved, however, renal [kidney] function did not recover and the patient remains dialysis-dependent today," the doctors wrote in the case report. "The patient's grandmother endured a much more benign clinical course and did not require ICU management." "The message [from the case report] is clear: 'Don't eat pufferfish!'" Bill Atchison, a professor of pharmacology and toxicology at Michigan State University, who was not involved in the patients' care, told Live Science. Remaining questions Horowitz said he had a few questions about the patient's situation. For instance, the case report doesn't say how the man acquired the pufferfish, although "there are means of obtaining it, such as underground markets and fishing" in Florida, the doctors wrote. If the man still had the fish, then the state health department could have tested it for TTX, Horowitz said. If the fish was long gone, the doctors could have tested the man for presence of TTX, just to ensure the diagnosis, he added. [ 27 Oddest Medical Cases ] A definite diagnosis is important because the man could have had another co-occurring condition that accounted for some of his symptoms, Horowitz said. Finally, it's unclear why the doctors suspected botulism, as the man's symptoms didn't match those of botulism toxin. While this toxin can also cause paralysis , people with botulism poisoning have symptoms such as difficulty swallowing, trouble breathing and droopy eyelids, Horowitz said. The case report mentions that the man ate "canned food," which can contain the toxin, but doesn't specify if the food was canned by a professional (in which case botulism would be unlikely) or an amateur, Horowitz said. Horowitz added that the man's kidney dialysis likely wasn't caused by the TTX or the suspected botulism. Rather, the culprit was probably the cocaine, which can cause blood pressure to spike . "[Cocaine isn't] not directly toxic to the kidneys, per se," Horowitz said. But "if you do cocaine all the time or do it once and have a really high blood pressure, it's going to have a pretty serious effect on your kidneys." The case report's authors could not be reached for comment. The study was published online June 7 in the journal BMJ Case Reports . 5 Lethal Chemical Warfare Agents 7 Facts About the Deadly Nerve Agent Sarin Dangers in the Deep: 10 Scariest Sea Creatures Originally published on Live Science . |
Pfizer names former FDA chief Scott Gottlieb to its board
(Reuters) - Pfizer Inc <PFE.N> said on Thursday it has named former U.S. Food and Drug Administration Commissioner Scott Gottlieb to its board of directors, effective immediately.
Gottlieb stepped down abruptly as the FDA chief in March this year, a role he had held since May 2017.
He was well-regarded by public health advocates and won bipartisan support for his efforts https://www.reuters.com/article/us-usa-fda-gottlieb/u-s-fda-chief-tough-on-e-cigarettes-steps-down-abruptly-idUSKCN1QM2GZ to curb use of flavored e-cigarettes by youths.
Unlike his predecessors, who said drug pricing was not the purview of the FDA, Gottlieb waded into the intensifying debate about the high cost of medicines for U.S. consumers and had the agency actively looking into possible solutions.
Gottlieb ran into fierce opposition from anti-regulation groups such as Americans for Tax Reform and former FDA officials, who said the agency's regulatory efforts would destroy thousands of jobs.
Pfizer has also appointed Gottlieb to the board's regulatory and compliance as well as the science and technology committees.
(Reporting by Bharath Manjesh in Bengaluru; Editing by Arun Koyyur) |
UPDATE 5-Apple design chief Jony Ive, Steve Jobs' confidant, to leave and start own firm
(Adds quotes from former Apple employee)
By Stephen Nellis
June 27 (Reuters) - Jony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple's rise to a $1 trillion company, will leave later this year to form an independent design company.
Apple said Ive will continue work on its products at his new venture, but shares fell as much as 1.5% to $197.44 in after-market trading, wiping about $9 billion from the firm's value.
Ive spent nearly three decades at Apple, leading the design of the candy-colored iMacs that helped Apple re-emerge from near death in the 1990s to the iPhone, regarded by some experts as one of the most successful consumer products of all time.
"It's the most significant departure of somebody who was a core part of the growth story" under Jobs, said Ben Bajarin, analyst with Creative Strategies.
Ive joined Apple in 1992 and led Apple's design teams since 1996. He became chief design officer in 2015.
Ive's new company will be called LoveFrom, the Financial Times reported, quoting Ive as saying it would be based in California "for now." Ive told the newspaper he would work on Apple devices in addition to unspecified "personal passions" and non-Apple projects.
"I have the utmost confidence in my designer colleagues at Apple, who remain my closest friends, and I look forward to working with them for many years to come," Ive said.
Ive's departure comes amid falling iPhone sales, including a record drop in Apple's most recent quarter. Sales of some newer hardware products such as the Apple Watch and its wireless AirPods headphones are expanding, but Apple has turned its attention to growing its services business, which includes Apple Music and iCloud.
Nehal Chokshi, an analyst with Maxim Group, said that despite Ive's key role in Apple history, his departure will not hurt the iPhone maker.
"I would view it as Jony Ive looking to get paid market rates for his design expertise from Apple, with the right to allow other companies - not competitors to Apple - to leverage that expertise," Chokshi said.
CONTINUITY AFTER JOBS
Jobs deeply involved himself in Apple's design process, sometimes visiting Apple's design studios daily to offer Ive feedback. Chief Executive Tim Cook, to whom Ive now reports, has not done the same.
After Jobs' death, pundits questioned whether Apple could continue Jobs' pace of new products. Ive became a symbol of continuity, bridging the Jobs and Cook eras.
But Alan Cannistraro, chief executive of online video discovery platform Rheo who previously worked at Apple for a dozen years, said Apple employees knew Ive had taken on fewer day-to-day design duties in the past several years. Around 2015, Cannistraro would often see Ive at a high-end fitness gym on Market Street in San Francisco doing mid-morning workouts.
"When I would see him there, two days a week or more, that just told me he had taken a step back," Cannistraro said.
Ive came to oversee both hardware and software design at Apple, but the company laid the groundwork for his departure over several years. During 2015, Ive handed off some duties to other executives while he finished Apple's new corporate headquarters, Apple Park.
One of those executives was Alan Dye, who Apple on Thursday said will become vice president of human interface design. The company appointed Evans Hankey as vice president of industrial design. Both have "played key leadership roles" in Apple's design team for years, the company said.
Cannistraro, the former Apple employee, said Hankey stood out as "exceptional" among Apple's already strong design teams. Around 2008, as Apple readied new iMacs, Hankey dug in on an idea to make Apple products talk to each other as a home control system.
The effort, which was never released, was not part of Hankey's official duties. But she took an interest anyway because of her “very long-term vision kind of role – looking for seeds that could turn into something bigger, or maybe plant some seeds, too,” Cannistraro said.
The elevation of Dye and Hankey could reignite the connection between Apple's design teams and senior executives. Both will report to Chief Operating Officer Jeff Williams, who will in turn hand off logistics and supply chain duties to Sabih Khan, newly named senior vice president of operations.
Meantime, Williams, who oversaw development of the Apple Watch, "will spend more of his time working with the design team in their studio," Apple said.
Williams has gained clout in Apple's product development process, but that does not necessarily mean he is poised to become chief executive in the near future, Maxim Group's Chokshi said.
"I don't see Tim Cook retiring anytime soon," Chokshi said. (Reporting by Stephen Nellis in San Francisco; Additional reporting by Supantha Mukherjee and Sanjana Sitara Shivdas in Bengaluru; Editing by Shounak Dasgupta and Lisa Shumaker) |
Official: Jason Vargas might not be on the Mets come Aug. 1
NEW YORK — The New York Mets on Thursday unveiled their long-overdue tribute to Tom Seaver, the player who only changed the course of their team history. The thoroughfare formerly known as 126th St. will henceforth be known as Tom Seaver Way, and the official address of Citi Field, where of course Seaver never pitched, will from now on be number 41. At some point, there will be a statue of Seaver unveiled outside the ballpark. It was a rather festive occasion with remarks delivered by a Queens city councilman, the Archbishop of New York, Mets CEO Jeff Wilpon and, most movingly, Seaver’s eldest daughter Sarah. But of course, the Mets being the Mets, the occasion came 12 hours after yet another act of defiance and disrespect by Jason Vargas , for whom it can be safely assumed no streets in this town will ever be named. And so, as the Mets were trying to commemorate the legacy of an all-time great, they were forced once again to answer questions about the obstinance of a mediocrity. “We’re all angry with him,’’ a Mets official said Thursday, who requested anonymity. “Think he’ll be here next year?’’ The man went on to say Vargas, who at the moment is the Mets most reliable starter, might not even be a Met come Aug. 1. ‘’This did not help him,’’ he said. The juxtaposition of the two pitchers, their relative abilities and the different ways in which they handled crises with the media could hardly have been more striking. Forty-two years ago this month, Seaver became embroiled in a public spat with Dick Young of the New York Daily News, at the time the most powerful columnist in the city. Jason Vargas’ pettiness cast a shadow over the Tom Seaver ceremony on Thursday at Citi Field. (AP) For whatever reason, Young took the side of Mets management in a salary dispute between the Mets and Seaver. He wrote columns calling Seaver “greedy’’ and “selfish’’ and “disloyal,’’ which was kind of rich considering no time afterward, Young would run out on the News for the greener paychecks of the New York Post. Then, he brought Seaver’s wife into it, implying that the real cause of the dispute was some sort of jealousy between Nancy Seaver and Ruth Ryan, spouse of Nolan, who had been traded away to the California Angels. It was an ugly dispute, but according to contemporary newspaper accounts as well as conversations with reporters who were there, at no time did Seaver confront Young in the clubhouse, curse him or threaten to “knock you the f--- out,’’ as Vargas did to Newsday’s Tim Healey on Sunday, basically because he didn’t like the look on his face. All he did was march into the office of M. Donald Grant, the Mets chairman of the board, and demand a trade. Grant obliged, and that day -- June 15, 1977 -- remains one of the darkest days in Mets history. Story continues Contrast that with what Vargas has pulled over the past five days. Given a second chance to clean up the mess he created on Monday when he refused to apologize for, even acknowledge responsibility of, the ugly clubhouse that followed the Mets loss to the Cubs, Vargas doubled down on his arrogance and lack of accountability. “I don’t think all the information is really out there,’’ Vargas said. “I don't think this is the time to get into that. But I think that anybody that knows me or played with me through the duration of my career, there's never been a situation like that. So to think that it just happened out of the blue would be foolish. The organization put out a statement. For that information to be out there like that, for only one side to be told, that’s just not it.’’ Whether it’s the general breakdown of civility in our society over the past 50 years, or simply the misbehavior of one bad apple, you could hardly find two more different individuals than Seaver and Vargas. In essence, Vargas was flipping the bird at Wilpon and Brodie Van Wagenen, his two bosses, who, he implied, were keeping him from telling his side of the story. That got me to asking some questions of some highly-placed people in the Mets organization, all of whom spoke off the record in exchange for speaking candidly about a player with whom many have grown exasperated. According to sources in the Mets front office, both Wilpon and Van Wagenen are angry with Vargas, and to a lesser extent, Mickey Callaway. The owner and GM are peeved that the manager had to be marched out for second news conference on Monday to publicly apologize to Healey, and only after publicist Harold Kaufman insisted that he do so. And they are incensed that Vargas, who was paid $8 million last year for a 7-9 record and 5.77 ERA and will be paid the same this year for, so far, three wins and a 3.66 ERA, has rejected their advice to apologize for threatening Healey, take responsibility for his actions, and put the situation to rest once and for all. Instead, Vargas’ pettiness cast a shadow over the Seaver ceremony on Thursday and threatens to linger when the Mets return home this weekend for what was planned as a gala celebration of the team Seaver led to the 1969 World Championship on Saturday. The Vargas situation is especially vexing to the Mets because aside from fining him $10,000, the maximum allowable amount that cannot be grieved by the Players Association, they are powerless to do anything else. “I knew the right thing to do,’’ Wilpon told Yahoo Sports on Thursday. “I apologized, It’s a workplace and everyone had the right to be safe. Tim’s a nice man doing his job. We should respect him and he should respect the players and that’s it.’’ Asked if, in the course of his own investigation of the incident, he had found any evidence that Healey might have been at fault, or exacerbated the situation, Wilpon said, “No, no. Absolutely not.’’ Citi Field will now be listed as 41 Seaver Way in honor of the Hall of Fame pitcher's number. (AP) Another person in the Mets organization surmised that Healey’s remark to the manager -- “See you tomorrow, Mickey’’ -- was an example of bad judgment; the moments following a tough loss might not be the best time to make small talk. But the person was at a loss to explain Vargas’ hostility to the reporter: “Maybe there’s some lingering resentment over something that was written earlier in the year [when Vargas was struggling], or maybe he’s afraid he’ll look weak in front of his teammates if he apologizes.’’ In any event, it’s safe to assume the Mets will not be picking up Vargas’ $8 million option for 2020, although they will still owe him a $2 million buyout. Contrast that with Seaver, who never made $2 million in any of his 20 big-league seasons and was paid $40,000 in 1969, when he won 25 games and the NL Cy Young Award. “A player like Tom Seaver comes along once in a lifetime,’’ Wilpon said during his prepared remarks during the ceremony. “He not only changed the history of this franchise but the history of sports in this city,’’ said Howie Rose, the emcee. Fifty years from now, Tom Seaver will still be remembered around here. But Jason Vargas can’t be forgotten quickly enough. More from Yahoo Sports: USWNT needs Alex Morgan to step up vs. France Rapinoe stands ground in cross-Atlantic Trump spat Report: Celtics are the favorite to land Walker Sources: Hill meets with NFL over child abuse charges View comments |
Brazil seeks foreign capital to update transportation
WASHINGTON (AP) Brazil says it will seek to raise at least $45 billion in investments over the next four years for an ambitious plan to improve transportation in South America's biggest nation. Infrastructure minister Tarcísio Gomes de Freitas said Thursday in Washington that he will be outlining details of the proposal in meetings with the Inter-American Development Bank and with U.S. Transportation Secretary Elaine Chao. The government's plan calls for auctions of concessions in all areas of transportation, including 44 airports, 24 seaports, 16,000 kilometers (9,900 miles) of highways and 8,700 kilometers (5,400 miles) of train lines. The push started earlier this year with auctions involving 12 airports, 10 ports and a major rail line, which brought in $3.5 billion, split evenly between grants and investment in the facilities. Gomes said Brazil needs investment from the private sector because its infrastructure is outdated. Gilberto Braga, a Brazilian financial analyst and professor at the private IBMEC university, the project could be an important development for improving the country's transportation sector, but he cautioned that at this point it is still just a plan. "It's hard to know if the goal will be reached" in raising $45 billion, he said. Braga predicted that railways will be the most attractive to outside investors, saying it is a sector in which Brazil lacks technology. He said Brazil already has a lot of concessions for ports and roads. ___ Associated Press writer Marcelo de Sousa in Rio de Janeiro contributed to this report. ___ Luis Alonso Lugo on Twitter: http://www.twitter.com/luisalonsolugo |
CalAmp (CAMP) Tops Q1 Earnings and Revenue Estimates
CalAmp (CAMP) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this wireless communications company would post earnings of $0.25 per share when it actually produced earnings of $0.28, delivering a surprise of 12%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
CalAmp, which belongs to the Zacks Electronics - Miscellaneous Components industry, posted revenues of $89.07 million for the quarter ended May 2019, surpassing the Zacks Consensus Estimate by 2.37%. This compares to year-ago revenues of $94.89 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
CalAmp shares have lost about 22% since the beginning of the year versus the S&P 500's gain of 16.2%.
What's Next for CalAmp?
While CalAmp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for CalAmp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.16 on $91.60 million in revenues for the coming quarter and $0.83 on $373.02 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Miscellaneous Components is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
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 reportCalAmp Corp. (CAMP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Automotive Stocks Announce Cutbacks: Which Stocks Still Look Like Buys?
Ford F announced today that it will be cutting 12,000 jobs at the company’s operations across Europe by the end of fiscal 2020. The announcement comes as the continuation of the automaker’s global restructuring program. Ford is also planning on closing or selling off six out of its 24 European plants. The cutbacks are reaching as far as its facilities in Spain and Germany where they are expecting to drop shifts.
The car company’s global workforce of 199,000, with 53,000 of those workers stationed in Europe, will become notably smaller in size in the coming year. The company’s new cutback initiative comes as an attempt to reverse years of losses. A management shakeup two years ago ended with appointing Jim Hackett as the new CEO and several cost saving strategies have been implemented since his tenure began.
Company officials say the cost saving measure put into effect reflect the shift Ford is attempting to make from conventional gas-powered vehicles to electric and battery powered automobiles. Investors seem to be taking the company’s changes well as Ford is up over 33% on the year. Ford’s Mustang will be part of a joint venture with German automaker Volkswagen VWAGY. The two car companies are also in talks for further collaborations on autonomous and electric cars that could be announced in upcoming weeks.
The automotive industry is facing pressure as a whole from regulators around the world to make the switch to environment friendly cars. Ford is not the only automotive company that has had to announce cutbacks. General Motors GM announced last November their plans to shut down five of its facilities in North America, which would result in the loss of 14,000 jobs. Volkswagen also made an announcement in March about its initiative to eliminate 7,000 jobs on top of its previously projected cuts.
These automotive stocks have been playing the catch-up game as they attempt to recover from losses and appease regulations. Let’s take a more in depth look at these automotive stocks and see which ones might be able to emerge from the rubble.
Ford
Ford is currently listed as a Zacks Rank #2 (Buy) and is coming off a stellar quarter. The automaker was able to crush our consensus estimate of $0.26 by reporting EPS of $0.44, an EPS surprise of +69.23%. And, earnings grew over 46% compared to the previous quarter.
Our consensus estimates are calling for 13.79% year-over-year earnings growth with a 2.13% sales increase for the following quarter. On top of strong projections for the following quarter, the stock has a strong valuation lure as well. Ford is currently trading at 7X its forward earnings, with a PEG ratio of 0.99. The automotive giant also has a P/S ratio of 0.25, which further pushes the stock to trade at a discount level relative to its industry.
General Motors
General Motors is currently sitting at a Zacks Rank #3 (Hold), and is another stock coming off a strong quarter. The company was able to surpass our consensus estimate by $0.32 to produce an EPS surprise of +29.36%. The stock has seen some growth this fiscal year, as it is up over 14% stemming from a 10% surge in the last 4 weeks.
Despite the strong recent performance from the stock, it has seen some decline as its EPS tumbled 1.4% and its revenue fell 9.17% compared to the previous quarter. The Zacks Consensus Estimate is projecting a year-over-year earnings plunge of 21.55% with a 3.28% decline in sales for the current quarter. GM has had a solid past 4 weeks and must come up with another positive earnings surprise if it wants to sustain its recent growth.
Volkswagen
Volkswagen is currently a Zacks Rank #3 (Hold) and has had more of a lackluster year compared to the prior two stocks; shares are only up a bit over 2%. The German automaker saw EPS growth of 6.45% compared to the previous quarter, but its sales fell by 2.58%. Despite some shaky growth, the stock has strong valuation that can attract investors, especially if the company can make progress towards collaborations with Ford on future models. The company boasts a P/E ratio of 5.69, with a PEG ratio of 1.32 and a P/S ratio of 0.31. The automotive giant’s earnings yield of 17.57% further separates the stock from its peers, while solidifying the stock as a sound investment within the industry.
Looking at this chart, Ford has been the stock that has been able to outperform the industry as well as the subsequent stocks since January.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFord Motor Company (F) : Free Stock Analysis ReportGeneral Motors Company (GM) : Free Stock Analysis ReportVolkswagen AG (VWAGY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Should Emerge Gaming (ASX:EM1) Be Disappointed With Their 50% Profit?
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It hasn't been the best quarter forEmerge Gaming Limited(ASX:EM1) shareholders, since the share price has fallen 30% in that time. But that doesn't change the reality that over twelve months the stock has done really well. After all, the share price is up a market-beating 50% in that time.
See our latest analysis for Emerge Gaming
With just AU$128,465 worth of revenue in twelve months, we don't think the market considers Emerge Gaming to have proven its business plan. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. Investors will be hoping that Emerge Gaming can make progress and gain better traction for the business, before it runs low on cash.
As a general rule, if a company doesn't have much revenue, and it loses money, then it is a high risk investment. You should be aware that there is always a chance that this sort of company will need to issue more shares to raise money to continue pursuing its business plan. While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized).
Emerge Gaming had cash in excess of all liabilities of AU$2.1m when it last reported (December 2018). While that's nothing to panic about, there is some possibility the company will raise more capital, especially if profits are not imminent. Given the share price has increased by a solid 50% in the last year, its fair to say investors remain excited about the future, despite the potential need for cash. You can see in the image below, how Emerge Gaming's cash levels have changed over time (click to see the values). You can see in the image below, how Emerge Gaming's cash levels have changed over time (click to see the values).
In reality it's hard to have much certainty when valuing a business that has neither revenue or profit. One thing you can do is check if company insiders are buying shares. If they are buying a significant amount of shares, that's certainly a good thing. Luckily we are in a position to provide you with thisfreechart of insider buying (and selling).
Emerge Gaming shareholders should be happy with thetotalgain of 50% over the last twelve months. Unfortunately the share price is down 30% over the last quarter. Shorter term share price moves often don't signify much about the business itself. You could get a better understanding of Emerge Gaming's growth by checking outthis more detailed historical graphof earnings, revenue and cash flow.
We will like Emerge Gaming better if we see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
Lady Gaga Just Stepped Out In NYC—But Decided To Leave Her Pants At Home
From Women's Health Lady Gaga, singer, actress, and superstar, has spent the past few days in New York City, and her looks have not disappointed-as if they ever would. Yesterday, she left The Mark Hotel in an ensemble perfect for the sweltering summer months: a leather crop top, ruffled midi skirt, her staple platform boots, and leather evening gloves, paired with a leather doctor's bag. Photo credit: Jackson Lee - Getty Images Later that evening, Gaga performed at The Apollo Theater in Harlem, returning to her hotel in a Green Day graphic tee, and not much else. It appears Lady Gaga, rightly so, has transcended street style stardom to the point where not even pants are required. In fact, only a t-shirt is required-because when Lady Gaga says a t-shirt is a dress, a t-shirt is a dress. The A Star is Born actress paired her concert tee with a pair of knee-high patent leather boots, and an extra-long high ponytail, as one does. Photo credit: Robert Kamau - Getty Images This is Lady Gaga's first day out since People reported that her Star is Born director and co-star, Bradley Cooper, and his longtime fiancé, Irina Shayk, had ended their relationship. While romance rumors swirled after the co-stars performed their Academy Award winning single Shallow together at The Oscars, Us Weekly and Elle reported last week that according to tabloid reports, Gaga and Cooper will not get together in the wake of Cooper and Shayk's supposed split, despite hopes from fans looking to see their on-screen relationship transition into a real-life romance. While news of Gaga's love life has been dim since her split with ex-fiancé Christian Carino , the superstar is keeping us entertained with moments of epic fashion-like her theatrical 4-part look on the CAMP themed Met Gala red carpet -performances in Las Vegas, New York City, and beyond, and as always, killer street style. ('You Might Also Like',) 14 Keto Breakfast Recipes That Make Waking Up So Much Easier 13 MS Symptoms In Women That Shouldn't Be Ignored Love Carbs? We Created This 21-Day Keto Diet Plan Just for You |
Why Rite Aid Shares Climbed as High as 36% Thursday
Shares ofRite Aid(NYSE: RAD)jumped as high as 36% on Thursday, even though the drugstore chain posted aweaker-than-expected first quarter.The gain was thanks to a partnership with Amazon. The stock closed the day up more than 20%.
Rite Aid's stock was actually sliding lower in pre-market trading as a result of its disappointing first quarter. But it abruptly turned around when the company announced a partnership withAmazon.com(NASDAQ: AMZN). Rite Aid will open Amazon pickup counters in over 100 of its stores before rolling out more than 1,500 locations by year end. The program, called Counter, will enable consumers to pick up their orders with same-day, one-day, and standard shipping service. For investors, it was a breath of fresh air after Rite Aid has consistently declined throughout most of 2019.
RADdata byYCharts.
The development is mostly a no-brainer for the company because it's possible those consumers will stick around and shop while they're picking up their shipments. Jocelyn Konrad, Rite Aid's executive vice president for pharmacy and retail operations, said in a press release, "Being the first store partner for Counter in the U.S. is a differentiator for Rite Aid, and we believe our partnership with Amazon, that includes Locker, creates a stronger in-store experience for existing customers and new customers that come in to pick up their packages."
Image source: Amazon.
This development also makes perfect sense for Amazon, as the company is always on the prowl for innovative ways for customers to ship and/or receive their orders. Because having packages delivered directly to the home isn't always practical, the pickup option enables consumers to purchase online and receive the shipment at their convenience. It's also Amazon's latest flirtatious move with the pharmaceutical world. The company hasacquired online pharmacy PillPackand has a healthcare joint venture withBerkshire HathawayandJPMorgan Chase.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Daniel Millerhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has adisclosure policy. |
Trump Administration in Talks With Crypto Startup on Israeli–Palestinian Peace Plans
The Trump administration has tapped Israeli crypto startup Orbs to develop blockchain solutions for the region’s longstanding political conflicts.
The disclosure comes this week from a summit convened by the White House in Bahrain to discuss the Israeli–Palestinian conflict. TheNew York Timesreported Treasury Secretary Steven Mnuchin said investments in the Palestinian territory would be like a “hot I.P.O.” The White House is aiming to put$50 billionbehind it’s so-called “Peace to Prosperity” plan.
Orbs cofounder Netta Korin told CoinDesk in an email that her team has been “working with the U.S. Administration and the State Department … on several projects that are currently in stealth mode.”
Related:Pot Startup Uses the Blockchain to Smoke Out Weed Strains
Korin, who is also co-founder of the nonprofit Hexa Foundation focused on social-impact blockchain projects, added:
“I was invited [to Bahrain] to show the immense potential blockchain technology has to solve some of the problems governments are facing in an efficient and transparent matter.”
Korin says the approach is emblematic of “a paradigm shift” in dealing with economic aid to the Palestinian people. “Where the default used to be donations, the future will now be based on investments,” she told CoinDesk. “The solutions that are being sought after will be innovative and game-changing.”
Stepping back, Korin was one of the few Israelis to join White House advisor Jared Kushner at the Bahrain summit. American economist Kevin Hassett even floated the idea of using blockchain technology to resolveland title disputesin the Palestinian territories, which perhaps overlook the fact such conflicts generally involve the Israeli military.
Related:Two Israeli Brothers Arrested for Phishing Fraud, Bitfinex Hack
Previously, an anonymous source with knowledge of Israeli–Palestinian diplomatic relations told CoinDesk that blockchain solutions for tracking capital flows in the Palestinian territories have been discussed over the past year.
In particular, the source said, a meeting last October with U.S. Deputy Secretary of the Treasury Sigal Mandelker and several representatives from the Bank of Israel and the Israeli Finance Ministry explored such blockchain solutions. There were no Palestinians present at the meeting, the anonymous source said, although thePalestinian Monetary Authorityis also reportedly exploring blockchain solutions.
Meanwhile, personal ties between the Israeli crypto industry and government bodies continue to deepen. Korin was previously an advisor to the Israeli Ministry of Defense, General Yoav Mordechai. Plus, Korin’s husband is Nadav Shemesh, a former aide to the Israeli Ministry of Finance Moshe Kahlon. This is hardly unique in Israel. For example, Prime Minister Benjamin Netanyahu’sniece and nephew,Guy and Galia Ben-Artzi, are co-founders of the blockchain startup Bancor.
Danny Brown Wolf, head of partnerships at Orbs and former advisor with Israel’s United Nations delegation, told CoinDesk that although “no one thinks technology can solve the conflict” blockchain solutions could help distribute humanitarian aid to Palestinians and “support economic development.”
On the surface, it appears not much has changed since the meetings last fall, as thePalestinian Authorityboycotted this week’s Bahrain summit. Although Korin declined to name any specific Palestinian partners or project plans, she said her team is working with Palestinians “on both the design of these projects and the implementation on the ground.”
Palestinian tech-industry leaders did not respond to CoinDesk’s requests for comment. We will update the article if we hear back.
In conclusion, Korin added:
“Blockchain will play a major role in the region going forward.”
Donald Trump image via Shutterstock
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Black Iron Provides Project Update and Announces AGM Results
TORONTO, ON / ACCESSWIRE / June 27, 2019/ Black Iron Inc. ("Black Iron" or the "Company") (BKI.TO) reports, recently elected Ukraine President Zelensky along with several Ministers from Ukraine's Government will be in Toronto next week and Black Iron's CEO Matt Simpson is participating in several meetings including a panel at the Ukraine House event on July 3rd being moderated by the Chairman of UkraineInvest.
Good progress is being made to secure essential land for Black Iron's Shymanivske project construction with an agreement recently being reached with Ukraine's Ministry of Defence on the co-ordinates for a parcel of land they are willing to turn over to Black Iron subject to preconditions currently being negotiated.
The sale price of iron ore is up 45% year to date with 62% iron content product currently selling for ~US$117 per tonne and 65% iron content product for ~US$128 per tonne. This is helping attract potential investors to finance construction of Black Iron's Shymanivske project. The premium 68% iron content product that Black Iron aims to produce is expected to sell for a much higher price than the benchmarks while being produced at an estimated cost of US$31 per tonne. The project's expected financial returns using today's iron ore sale prices are off the top of the chart included in the most recent preliminary economic assessment as shown below. Technical details about the project can be found in the NI 43-101 compliant technical report entitled "Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit" effective November 21, 2017 under the Company's profile on SEDAR atwww.sedar.com.
Expressions of interest were recently received from two multi-billion dollar Asian engineering, procurement and construction companies to make an equity investment of 10% of the total project construction cost (i.e. ~US$45 million investment) in exchange for being awarded the construction contract. The proposal is for the equity to be invested over the period of constructing Black Iron's Shymanivske project and hence is likely to be made at a much higher share price.
Black Iron's financial advisor has completed their financial modeling work and started reaching out to pure financial investors and royalty/stream providers to solicit interest in funding project construction. The financial model reinforces very high returns on investment under various iron ore prices and financing structures along with a massive gap in the Company's current share price relative to its future potential.
AGM Results
In accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated May 29, 2019 were elected as directors of the Company at the Annual Meeting of shareholders of the Company (the "Meeting") held on June 27, 2019.
Detailed results of the vote for the election of directors are as follows:
[{"": "John Detmold", "Votes For": "39,254,161", "% Votes For": "99.928%", "Votes Withheld": "92,737", "% Votes Withheld": "0.236%"}, {"": "Bruce Humphrey", "Votes For": "39,254,161", "% Votes For": "99.928%", "Votes Withheld": "92,737", "% Votes Withheld": "0.236%"}, {"": "Pierre Pettigrew", "Votes For": "39,191,061", "% Votes For": "99.604%", "Votes Withheld": "155,837", "% Votes Withheld": "0.396"}, {"": "David Porter", "Votes For": "39,254,161", "% Votes For": "99.928%", "Votes Withheld": "92,737", "% Votes Withheld": "0.236%"}, {"": "Matthew Simpson", "Votes For": "39,684,953", "% Votes For": "99.924%", "Votes Withheld": "30,000", "% Votes Withheld": "0.076%"}]
Shareholders at the Meeting also approved the appointment of the Company's auditors. A total of 39,719,953 common shares were voted in connection at the Meeting, representing approximately 21% of the issued and outstanding common shares of the Company.
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske project located in Kryviy Rih, Ukraine. The Shymanivske project contains a NI 43-101 compliant mineral resource estimated to be 646 Mt Measured and Indicated mineral resources, consisting of 355 Mt Measured mineral resources grading 32.0% total iron and 19.5% magnetic iron, and Indicated mineral resources of 290 Mt grading 31.1% total iron and 17.9% magnetic iron, using a cut-off grade of 10% magnetic iron. Additionally, the Shymanivske project contains 188 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron. Full mineral resource details can be found in the NI 43-101 compliant technical report entitled "Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit" effective November 21, 2017 under the Company's profile on SEDAR at www.sedar.com. The Shymanivske project is surrounded by five other operating mines, including ArcelorMittal's iron ore complex. Please visit the Company's website atwww.blackiron.comfor more information.
The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Matt Simpson, P.Eng, CEO of Black Iron, who is a Qualified Person as defined by NI 43-101.
Forward-Looking Information
This press release contains forward-looking information.Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the election of directors, the Company's ability to develop the Shymanivske project, the Company's ability to raise adequate capital, the Company's ability to secure the requisite land rights and the Company's future plans. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," 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." Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral resources that are not mineral reserves do not have demonstrated economic viability.
For more information, please contact:
Matt SimpsonChief Executive OfficerBlack Iron Inc.Tel: +1 (416) 309-2138
SOURCE:Black Iron Inc.
View source version on accesswire.com:https://www.accesswire.com/550194/Black-Iron-Provides-Project-Update-and-Announces-AGM-Results |
Mitch McConnell's Stolen Supreme Court Seat Keeps Paying Dividends For GOP
WASHINGTON ― Republicans chalked up a major win on Thursday when the Supreme Court gave its blessing to extreme partisan gerrymandering . They largely have Senate Majority Leader Mitch McConnell (R-Ky.) to thank. The court’s 5-4 ruling broke down along partisan lines, with the five conservative justices holding the majority opinion. Republicans have done far more gerrymandering than Democrats in the past decade and currently have the power to draw many more congressional districts than Democrats . If this trend continues beyond the 2020 elections, the Supreme Court’s decision will effectively entrench GOP rule in states all over the country. We wouldn’t be here if it weren’t for McConnell, whose unwavering focus on remaking the nation’s federal courts to benefit Republicans ― democracy be damned ― is paying off. One of the court’s conservative justices, Neil Gorsuch, wouldn’t even be on the court if it weren’t for McConnell. Gorsuch filled a seat that was supposed to go to President Barack Obama’s nominee, Merrick Garland. But when that seat opened up in February 2016 after then-Justice Antonin Scalia died, McConnell announced he would block any Obama replacement . He and Senate Republicans spent the next year denying a hearing and a vote to Garland ― an unprecedented level of obstruction aimed at a sitting president ― and eventually let President Donald Trump fill the seat with Gorsuch in 2017. This was after McConnell changed the Senate rules to confirm Gorsuch, and after McConnell boasted that “one of my proudest moments” was looking Obama in the eye and telling him he would block his Supreme Court pick. You gotta hand it to Mitch McConnell, he's good at winning. It's just that the only principle he's guided by is empowering himself and his party. (Photo: Tom Williams via Getty Images) If Garland had made it onto the court and Trump had only been able to fill one Supreme Court seat instead of the two he’s filled, Thursday’s ruling likely would have been the opposite: a 5-4 ruling that severe partisan gerrymandering is unconstitutional. That was certainly the opinion of the four liberal-leaning justices, who, led by Justice Elena Kagan, warned of the corrosive effect gerrymandering is having on American democracy. Story continues “Of all times to abandon the Court’s duty to declare the law, this was not the one,” Kagan wrote in a blistering dissenting opinion. “The practices challenged in these cases imperil our system of government. Part of the Court’s role in that system is to defend its foundations. None is more important than free and fair elections.” It’s impossible to quantify how far the ripple effects of McConnell’s stolen Supreme Court seat will reach. Gorsuch was the deciding vote in at least two major cases in 2018 , when the court narrowly upheld Trump’s travel ban and, separately, upheld the rights of anti-abortion centers. Thursday’s decision means Republicans are poised to win more House and Senate seats going forward. It means it will be harder for federal courts to intervene in gerrymandering that intentionally deprives black people of political power , as long as people claim the district was drawn for partisan gain. It means McConnell’s calculation that prioritizing putting conservatives into lifetime federal court seats, even if they are embarrassingly unqualified , even if it requires blowing up the rules to do it, even if it means pretending your actions are guided by principles instead of bad faith arguments , will all be worth it. “McConnell, who knows that Republicans can’t win in a fair set of elections, has focused single-mindedly on stacking the deck for generations after he is gone, and the policies he represents have been rejected by voters,” said Norm Ornstein, a political scientist and resident scholar at the American Enterprise Institute, a Washington D.C., conservative think tank. Ornstein went on a Twitter tirade after the court’s ruling on gerrymandering, accusing the justices of giving too much leverage to Republicans at the expense of the public. “I see it as a true perversion of a Republican form of democracy,” he told HuffPost. “Citizens are supposed to choose their representatives and this is distortion in major ways.” McConnell told Capitol Hill reporters Thursday that he was pleased with the court’s decision. “There is no such thing as a nonpartisan gerrymander,” he said, citing Democrats winning the House in 2018 despite GOP-led redistricting efforts. “The problem is overstated.” He’s right that Democrats won more votes and flipped hundreds of seats in state legislatures in the 2018 elections. But they should have won more. Republicans won about 16 more U.S. House seats than expected and may have held onto as many as seven state House chambers thanks to those districts being drawn to give the GOP a built-in advantage, per a March 2019 analysis by The Associated Press. McConnell was an unexpected focus in Tuesday night’s Democratic presidential debate, where moderators asked each of the candidates how they would deal with him if elected president. None had a good answer. Igor Bobic contributed reporting. Related Coverage Supreme Court OKs Excessive Partisan Gerrymandering Elena Kagan Calls Out Conservative Justices For Shirking 'Duty' In Gerrymandering Decision Democratic Presidential Hopefuls React To 'Drastic' Supreme Court Ruling Love HuffPost? Become a founding member of HuffPost Plus today. This article originally appeared on HuffPost . |
Walgreens Stock Gets a Boost After Beating Earnings Estimates—But the Chain Still Needs a Prescription for Growth
Walgreens needs a strong prescription—for recovery.
After Walgreens CEO Stefano Pessina called the second quarter “the most difficult” since the company’s acquisition of Alliance Boots in 2014,Walgreens Boots Alliancesurprised Wall Street by beating third-quarter earnings, reporting adjusted earnings of $1.47 per share compared to Refinitiv expectations of $1.43.
The drugstore chain’s stock shot up over 4% in intraday trading on Thursday, but investors overall don’t seem too bullish. Walgreens’ stock is down over 23% so far for the year and profit fell to $1.03 billion in the third quarter compared to $1.34 billion in the period a year earlier, according to the company’s filing.
Although Walgreens beat expectations, Brian Tanquilut, healthcare services analyst at Jefferies, said “it’s a very low bar.”
He said “these kinds of results are sufficient to drive upside for the day,” but he doesn’t expect Walgreens’ stock to break out of its usually tight trading pattern based on one positive quarter.
While Walgreen executives were pleased with the results on a call with analysts Thursday, it appears the drugstore chain has a ways to go in order to stay in good health. And industry-wide problems may be the source of the company’s pains.
Pessina told analysts on a call that “the pressures we have seen for some time continues to impact our businesses, and we still have a lot to do to develop the transformation and data to get ahead of the market trends again and return our company to strong and consistent growth.”
What has been ailing Walgreens?
Much like other drugstore chains, the shift in consumers buying more household goods online rather than at brick-and-mortar stores has hurt the industry—Walgreens included. Online retail titanAmazonhas begun dabbling in the online pharmacy space, announcing on Thursday a partnership withRite Aidto offer Amazon pick-up in Rite Aid’s stores.
Jefferies’ Tanquilut believes that while the immediate impact of the venture shouldn’t be too severe since it’s largely on the non-pharmacy side, the trend toward online may incrementally hurt Walgreens’ retail business.
Walgreens, however, faces other problems. Given Walgreens’ U.K. store presence, analysts like Tanquilut are concerned about the company’s exposure to Brexit tensions. Walgreens’ CFO James Kehoe told analysts the company will close around 200 Boots stores in the U.K.
Additionally, the company reported a decrease in U.S. store sales (by some 1.1% from the previous year), attributed to a “de-emphasis” on tobacco products.
Ongoing reimbursement rate pressures and drug price inflation won’t subside anytime soon, Tanquilut said. While insurers not paying pharmacies as much to fill prescriptions is a negative for Walgreens, the problem is industry-wide.
Still, Walgreens laid out plans in April to save an estimated $1.5 billion in annual savings by 2022 by shuttering stores and consolidating warehouses.
The drugstore chain isn’t giving up on brick and mortar stores. Walgreens signed deals withFedEx,Kroger, Sprint and others in an attempt to drive more traffic into stores—including providing drop-off/pick-up package services, adding grocery products to Walgreens locations and offering wireless and technology services to customers, respectively.
Jefferies’ Tanquilut thinks Walgreens’ strategy tooffer healthcare services(what he calls “keeping up withCVS“) to create a “health hub” may become a major source of revenue.
Walgreens’ partnership with UnitedHealth Group’s MedExpress for urgent care may be a strategic move to offer both retail pharmacy services and healthcare in or near the store. Walgreens announced earlier this year that they are also working with Chicago-based VillageMD to offer primary care in a pilot initiative in select areas.
Despite the initiatives, Tanquilut said ”gross margin pressure is going to be there” for the near-term.
That’s going to be tough medicine to swallow for now.
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Apple Music hits more than 60 million subscribers, trailing Spotify
By Stephen Nellis
(Reuters) - Apple Inc on Thursday confirmed than the company's streaming music service has more than 60 million subscribers, trailing rival Spotify Technology SA's 100 million premium subscribers.
A company spokesman confirmed the figure that Eddy Cue, senior vice president of services for the iPhone maker, disclosed in remarks made https://www.numerama.com/tech/529295-60-millions-dabonnes-deal-avec-pnl-fin-ditunes-rencontre-avec-eddy-cue-boss-dapple-music.html to French publication Numerama in Paris. Apple executives had not disclosed a new number since May 2018, when the company said it had 50 million Apple Music subscribers.
The 60 million figure includes Apple customers who are on a free trial of Apple Music.
In April, Spotify reported it has 100 million "premium" subscribers. Spotify's definition of premium subscribers also includes those on free trials of its paid service so long as the user has entered a payment method such as a credit card.
When including listeners to its ad-supported service, Spotify has 217 million users. Apple and Spotify are locked in an antitrust dispute after Spotify filed a complaint with European regulators in March.
(Reporting by Stephen Nellis; Editing by Marguerita Choy) |
5 Underperforming Stocks in Gurus' Portfolios
Nokia tops the list |
Drowned father, daughter left humble origins in El Salvador
SAN MARTIN, EL Salvador (AP) — Julia Pérez makes a living selling pupusas, traditional Salvadoran stuffed pastries, to residents of the Altavista neighborhood who rise before dawn and rush to buses bound for their jobs in the capital about 12 miles (20 kilometers) away. One of her regulars was Óscar Alberto Martínez Ramírez, who would arrive on his motorcycle with his toddler daughter, Valeria, to grab a quick bite or pick up the savory treats to go. That is until they drowned this week in each other's arms while trying to cross the Rio Grande into Texas, a tragedy captured in a heartbreaking photograph that has prompted an outpouring of grief from around the globe. "It shocked me. I broke out in tears when I found out," Pérez said. "I saw the images and I didn't know it was them, how sad to see that. Later I learned it was little Oscar and Valeria." The neighborhood left behind by Martínez and his family is a humble bedroom community where many people commute to nearby San Salvador, leaving behind only the elderly and the very young during the day. The notorious 18th Street gang is present there, though residents say violence and extortion has eased. But there's still poverty and a lack of jobs, and a local priest estimates that a third his parishioners have left the country since 2015, risking the dangerous trek north toward the United States. "This reality of migration is not an unknown thing to us in Altavista," the Rev. Manuel Lozano said. "We all have lots of people who have left. ... We would rather that nobody put themselves in danger, but people continue to tell us, 'I have to leave, I have to go.'" "I have seen entire families leave," Lozano said. "The most recent was 14 people, a single family, that emigrated to the United States, and then the young people, many are leaving and the great majority exposing themselves to danger." Altavista is home to an estimated 130,000 people and sprawls across three municipalities, including San Martin. Most people live in low-rise, two-bedroom homes with a combination kitchen-living room-dining room, worth about $10,000-$15,000 each. Story continues At first light people can be seen walking briskly on the streets so as not to be late for jobs elsewhere, some of them holding the hands of children on their way to school. "Here in Altavista, as I think in the rest of El Salvador, live hard-working people, people with dreams, people who are mostly workers. ... People who like almost all Salvadorans live with a bit of paranoia, concerned by insecurity," Lozano said. El Salvador is one of the deadliest countries on the planet. Homicides have fallen by about half, from over 100 per 100,000 inhabitants just a few years ago, but remain high at some 50 per 100,000 inhabitants last year. That's more than nine murders a day for the country of about 6 million. But in Altavista things have been relatively quiet of late. Several people confirmed that gangsters are around, but residents largely feel free to go about their lives and business untroubled. José Ovidio Lara, 23, who each day parks his bike at a corner with a basket of French bread for sale, said he's never been bothered, not even for the "protection" fees gangs commonly demand from business owners upon threat of death. "No, they've never asked me," Ovidio said, "and nor do I have anything to give them." "This place was terrible before, but today one lives at peace," agreed Pérez, who has run her pupusa business for 15 years, opening at 5 a.m. and closing at 11 p.m. "I would be lying if I told you the gangs mess with me. No, they don't charge me rent." Even if things were calm, Martínez, 25, and his 21-year-old wife Tania Vanessa Ávalos, who had been living with his mother, apparently felt that on their salaries working at a pizza parlor and as a restaurant cashier they would never be able to own one of those modest homes. It was that dream, to save up money for a home, that led the family to set out April 3 bound for the United States, according to Martínez's mother, Rosa Ramírez. The young family arrived at the Mexican border city of Matamoros over the weekend and went to the downtown bridge that leads to Brownsville, Texas. There, Xiomara Mejia, a migrant from Honduras, explained that the newcomers would not be able to add their names to the long list of families waiting to apply for asylum in the United States until Monday. "I noticed they were really nervous, scared. There was panic on their faces," said Mejia, who arrived with her husband and three children on May 8 and was still waiting to file an asylum application with the U.S. government. "They said to me, 'You haven't tried to cross the river?'" Mejia said. "We said to them, 'No,' because of the children more than anything. I don't know how to swim and my kids do, but either way I'm not going to risk it." After chatting, Martínez and Ávalos said they would come back Monday. "I didn't think they were going to decide to cross the river," Mejia said. But on Sunday, not far downriver from that bridge, the family crossed a popular bike and jogging path and walked down a slope through the brush to the edge of the Rio Grande. The river does not appear wide there, maybe 20 to 30 yards, but that short distance obscures the dangers posed by the swift-moving current. Martínez made the crossing first with Valeria, then left her on the riverbank while he returned for his wife. But the frightened little girl plunged into the river after him and as he struggled to save her, they both were carried away by the fast-moving waters. Their bodies were recovered early Monday and were expected to be returned to El Salvador accompanied by Ávalos. Migration activists worry people may be driven to more risky measures by recent U.S. policies, including "metering" that dramatically reduces the numbers allowed to apply for refuge, and others that send asylum-seekers back to Mexico to wait as their cases linger for months or even longer through a backlogged U.S. immigration court system. Mexico has also stepped up immigration enforcement under pressure from Washington. President Andrés Manuel López Obrador said Thursday that Mexico had a three-month deadline to get the flow of Central American migrants under control and that the country is making progress. "We think we are going to be able to moderate the migratory phenomenon. We have to," López Obrador said. "We have a deadline, which is three months, ending Sept. 10, but we are doing well." ___ Sherman reported from Matamoros, Mexico. Associated Press writers Mark Stevenson and Peter Orsi in Mexico City contributed to this report. |
Shop the ultimate Fourth of July party grocery list to make hosting a breeze
If you're hosting theFourth of Julycookout this year, make your life a lot easier by buying all of your food and drinks ahead of time. Thanks toWalmart's online food section, we are stocking up on all of our favorite snacks and beverages -- in bulk.
From soda and cookie variety packs to condiments and chips, purchasing all of our necessities from Walmart's grocery section is one of our all time favorite hosting hacks. Shop 13 cookout must-haves below today and get ready to party!
Don't forget to dress for the occasion! |
Karuna Therapeutics Announces Pricing of Upsized Initial Public Offering
BOSTON–(BUSINESS WIRE)–$KRTX–Karuna Therapeutics, Inc. (Nasdaq: KRTX), a clinical-stage biopharmaceutical company primarily focused on developing novel therapies to address disabling neuropsychiatric conditions, today announced the pricing of its upsized initial public offering of 5,578,124 shares of common stock at a public offering price of $16.00 per share. In addition, Karuna has granted the underwriters a 30-day option to purchase up to 836,718 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. All the shares are being offered by Karuna. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Karuna, are expected to be $89.2 million, excluding any exercise of the underwriters’ option to purchase additional shares. The shares are expected to begin trading on the Nasdaq Global Market under the ticker symbol “KRTX” on June 28, 2019. The offering is expected to close on July 2, 2019, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Citigroup are acting as joint book-running managers for the offering. Wells Fargo Securities is also serving as a joint book-running manager. Wedbush PacGrow is acting as co-manager.
The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, by contacting the offices of Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone: 1-866-471-2526 or by emailingprospectus-ny@ny.email.gs.com; Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by phone at (800) 831-9146; or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or by telephone at 1-800-326-5897, or by email atcmclientsupport@wellsfargo.com.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on June 27, 2019. Copies of the registration statement can be accessed by visiting the SEC’s website atwww.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About KarunaKaruna is an innovative clinical-stage biopharmaceutical company primarily focused on developing novel therapies to address disabling neuropsychiatric conditions characterized by significant unmet medical need. Karuna is currently conducting a Phase 2 clinical trial of its lead product candidate, KarXT (Karuna-Xanomeline-Trospium), for the treatment of acute psychosis in patients with schizophrenia. Karuna also plans to initiate clinical trials of KarXT to evaluate its potential therapeutic benefit in other central nervous system disorders, including psychosis in Alzheimer’s disease, as well as pain.
Contacts
Investor Contact:Chris BrinzeyWestwicke, an ICR Company+1 339 970-2843chris.brinzey@westwicke.com
Media Contact:Liz BryanGlobalHealthPR+1 202 587-2526lbryan@spectrumscience.com |
Here's Why You Should Retain MetLife (MET) in Your Portfolio
MetLife Inc.MET is poised for growth on the back of its strong underwriting revenues, solid balance sheet and superior operating profitability.
The company recently announced a trial run of a completely revamped claims process by the use of Blockchain technology. The process, if successful and put into application, will be much cheaper than the manual alternative. This could allow MetLife to spend less on administrative costs, and therefore generate greater earnings.The stock carries a Zacks Rank #2 (Buy) and an impressive Value Score of A. Our research shows that stocks with a Value Style Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or #2 offer the best opportunities in the value investing space.
The stock has gained 11.2% in a year’s time, compared with the industry’s rise of 5.95%.
The following factors nakes the stock look attractive:
Low Leverage:The company’s long term debt-to-equity ratio of 23.7% is lower than the industry average of 43.6%. A low level of debt provides financial strength to it and cements investors’ confidence.
High Profitability:MetLife’s ROE is 10.2% compared with the industry average of 7.9%. The ratio has increased over the past three years.
Revision in Earnings Estimates:The stock has witnessed an upward revision in its 2019 and 2020 earnings estimates over the past 60 days. This movement reflects analysts’ optimism for the company. Also, its 2019 earnings will likely grow 4.1% year over year.
Financial Flexibility:Free cash flow per share for MetLife is 2.36 compared with the industry’s average of 2.17.
Other Stocks
Other stocks worth considering are American International Group, Inc. AIG Loews Corp. L and The Hartford Financial Services Group, Inc. HIG. While American International and Loewssport a Zacks Rank #1, The Hartford Financial Services carries a Zacks Rank #2.
You can seethe complete list of today’s Zacks #1 Rank stocks here.
American International Group, Loews, and The Hartford have witnessed an upward revision in 2019 earnings estimates by 12.3%, 6.3% and 2%, respectively, over the past 60 days.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportThe Hartford Financial Services Group, Inc. (HIG) : Free Stock Analysis ReportAmerican International Group, Inc. (AIG) : Free Stock Analysis ReportLoews Corporation (L) : Free Stock Analysis ReportMetLife, Inc. (MET) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
'Younger' star Sutton Foster talks filming Marie's Crisis scene, evolution of the show (Exclusive)
Fans were delighted during the season 6 premiere of "Younger" earlier this month when the show delivered an instantly-iconic musical moment featuring its musically talented cast.
In an effort to clear the air with Diana (Miriam Shor), Liza (Sutton Foster) and Kelsey (Hilary Duff) met her at the famed show tunes bar in the West Village, Marie's Crisis, where they subsequently all sang Dolly Parton's workplace hit, "9 to 5."
During a recent sit-down with AOL's Gibson Johns, Foster opened up about the scene's natural incorporation into the episode's plot, which is why the Tony-winning performer thinks it ended up working so well.
"It’s been so wonderful, because people have responded so positively to it, but I think for us it really organic for our characters because it was totally plot-oriented bringing these three women together, so it was a fun way for them to infuse music into the show with a sense of humor, but also a purpose," she explained. "For me, I never want to feel like my character was just breaking into song."
Foster also said that it was the lengthiness of the scene's shoot that actually ended up working in its favor.
"We were in there for quite a long time, so we got sillier and sillier as it was going on," she told us. "Marie’s Crisis is really small -- it’s the size of this conference room -- so we were in there for probably about six hours, and it was freezing outside. We were trapped in there and all the cameras were handheld. It was so fun."
As for the song choice, the actress thought that there was no other hit that could've worked for the scene.
"[Creator] Darren [Starr] said that there was another song that they were talking about doing first, but '9 to 5' was just a perfect fit with three women bonding together," she explained. "It was completely work-oriented. Any other song wouldn’t have worked."
Another reason why the film was such a success is that it was completely indicative of the show that "Younger" has become: Thematically, it has become a show about female friendship in the workplace, which has truly elevated it throughout its run on TV Land.
"Originally, the show started off with the conceit of a 40 year old pretending to be in her 20s to be relevant in the workplace, and it’s evolved beyond that. Now it’s about women and how women survive as professionals and how they support each other," Foster said of the show's journey. "This season, we have these two characters: Quinn Laura Benanti’s character, who has one idea of how women can get ahead and it’s basically being out for yourself and not about camaraderie and then there's Kelsey’s idea, which is about friendship. But, now, Kelsey was being put in this position of power with the glass cliff: Is she being set up to fail? The conversations that we’re having on the show are expanding, and I think that’s why it’s continuing to live on. I always say the show’s about love, but every form of love. The female friendships and how they are navigating their lives on their own and with each other is the true heart of the show."
Those themes of friendships are ones that Foster has also placed emphasis on while raising her 2-year-old daughter, Emily. The actress said that she watches "Sesame Street" with her in order to expose her to the importance of friends, community and family.
"What I enjoy about 'Sesame Street' is that when I watch it now with Emily, that I feel like I enjoy it as an adult and there are still lessons that I need to hear about community and family and friendship. We read a lot of the books, and she’s learning about that idea of friendship."
Foster herself has done two projects with iconic characters from the children's show, which celebrated its 50th anniversary this year. In addition to singing with Elmo on the show in 2011, the actress also starred in a recent anniversary video with Cookie Monster in collaboration with Lactaid. Seeing her mom hang out with some of her favorite characters isn't something that Foster thinks her daughter has truly wrapped her mind around yet.
"She just knows that Mommy sings with Elmo, and she knows it’s me and knows Cookie Monster, but I don’t think she realizes," she laughed. "She comes to visit me on set, but she doesn’t have any idea what I do. She just thinks I have some pretty cool friends."
Watch Sutton Foster and Cookie Monster's Lactaid spot below: |
Tesla (TSLA) Outpaces Stock Market Gains: What You Should Know
Tesla (TSLA) closed at $222.84 in the latest trading session, marking a +1.63% move from the prior day. This move outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Coming into today, shares of the electric car maker had gained 15.49% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.66%, while the S&P 500 gained 3.19%.
Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. In that report, analysts expect TSLA to post earnings of -$0.70 per share. This would mark year-over-year growth of 77.12%. Meanwhile, our latest consensus estimate is calling for revenue of $6.36 billion, up 59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.23 per share and revenue of $25.57 billion. These totals would mark changes of +7.52% and +19.17%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for TSLA. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.45% lower. TSLA is currently a Zacks Rank #5 (Strong Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportTesla, Inc. (TSLA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
PepsiCo (PEP) Stock Sinks As Market Gains: What You Should Know
PepsiCo (PEP) closed at $131.69 in the latest trading session, marking a -0.48% move from the prior day. This move lagged the S&P 500's daily gain of 0.38%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.73%.
Prior to today's trading, shares of the food and beverage company had gained 3.24% over the past month. This has outpaced the Consumer Staples sector's gain of 0.54% and the S&P 500's gain of 3.19% in that time.
PEP will be looking to display strength as it nears its next earnings release, which is expected to be July 9, 2019. On that day, PEP is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 6.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.42 billion, up 2.08% from the year-ago period.
PEP's full-year Zacks Consensus Estimates are calling for earnings of $5.51 per share and revenue of $66.52 billion. These results would represent year-over-year changes of -2.65% and +2.88%, respectively.
Investors might also notice recent changes to analyst estimates for PEP. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PEP is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, PEP currently has a Forward P/E ratio of 24.01. Its industry sports an average Forward P/E of 23.81, so we one might conclude that PEP is trading at a premium comparatively.
It is also worth noting that PEP currently has a PEG ratio of 3.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Beverages - Soft drinks industry currently had an average PEG ratio of 2.15 as of yesterday's close.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PEP in the coming trading sessions, be sure to utilize Zacks.com.
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United States Steel (X) Stock Sinks As Market Gains: What You Should Know
United States Steel (X) closed the most recent trading day at $15.11, moving -0.92% from the previous trading session. This change lagged the S&P 500's 0.38% gain on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Heading into today, shares of the steel maker had gained 18.68% over the past month, outpacing the Basic Materials sector's gain of 8.11% and the S&P 500's gain of 3.19% in that time.
X will be looking to display strength as it nears its next earnings release. In that report, analysts expect X to post earnings of $0.42 per share. This would mark a year-over-year decline of 71.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.57 billion, down 0.97% from the year-ago period.
X's full-year Zacks Consensus Estimates are calling for earnings of $0.91 per share and revenue of $13.96 billion. These results would represent year-over-year changes of -83.02% and -1.53%, respectively.
Investors might also notice recent changes to analyst estimates for X. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 44.16% lower. X is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that X has a Forward P/E ratio of 16.79 right now. Its industry sports an average Forward P/E of 10.59, so we one might conclude that X is trading at a premium comparatively.
Investors should also note that X has a PEG ratio of 2.1 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Steel - Producers was holding an average PEG ratio of 2.1 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportUnited States Steel Corporation (X) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
JD.com, Inc. (JD) Outpaces Stock Market Gains: What You Should Know
JD.com, Inc. (JD) closed the most recent trading day at $30.29, moving +0.5% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Prior to today's trading, shares of the company had gained 15.88% over the past month. This has outpaced the Retail-Wholesale sector's gain of 5.06% and the S&P 500's gain of 3.19% in that time.
Investors will be hoping for strength from JD as it approaches its next earnings release. In that report, analysts expect JD to post earnings of $0.10 per share. This would mark year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $21.75 billion, up 17.69% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.68 per share and revenue of $81.36 billion. These totals would mark changes of +100% and +17.39%, respectively, from last year.
Any recent changes to analyst estimates for JD should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. JD is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, JD is currently trading at a Forward P/E ratio of 44.32. This represents a premium compared to its industry's average Forward P/E of 27.1.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JD in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportJD.com, Inc. (JD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Walmart (WMT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Walmart (WMT) closed at $110.11, marking a -0.05% move from the previous day. This move lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Heading into today, shares of the world's largest retailer had gained 7.87% over the past month, outpacing the Retail-Wholesale sector's gain of 5.06% and the S&P 500's gain of 3.19% in that time.
WMT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.21, down 6.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $130.49 billion, up 1.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.83 per share and revenue of $526.69 billion. These totals would mark changes of -1.63% and +2.39%, respectively, from last year.
Any recent changes to analyst estimates for WMT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. WMT is currently a Zacks Rank #2 (Buy).
Investors should also note WMT's current valuation metrics, including its Forward P/E ratio of 22.79. Its industry sports an average Forward P/E of 13.56, so we one might conclude that WMT is trading at a premium comparatively.
Meanwhile, WMT's PEG ratio is currently 4.82. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Supermarkets industry currently had an average PEG ratio of 1.52 as of yesterday's close.
The Retail - Supermarkets industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportWalmart Inc. (WMT) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Kraft Heinz (KHC) Stock Sinks As Market Gains: What You Should Know
Kraft Heinz (KHC) closed the most recent trading day at $30.77, moving -0.23% from the previous trading session. This change lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Prior to today's trading, shares of the maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese had gained 7.53% over the past month. This has outpaced the Consumer Staples sector's gain of 0.54% and the S&P 500's gain of 3.19% in that time.
KHC will be looking to display strength as it nears its next earnings release. In that report, analysts expect KHC to post earnings of $0.60 per share. This would mark a year-over-year decline of 32.58%. Our most recent consensus estimate is calling for quarterly revenue of $6.08 billion, down 3.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.81 per share and revenue of $25.85 billion, which would represent changes of -20.4% and -1.55%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KHC. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.27% lower. KHC is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, KHC is holding a Forward P/E ratio of 10.97. This valuation marks a discount compared to its industry's average Forward P/E of 18.61.
Meanwhile, KHC's PEG ratio is currently 2.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.25 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportThe Kraft Heinz Company (KHC) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Limbach Holdings, Inc. (LMB) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Limbach Holdings, Inc. (LMB) closed at $8.28, marking a +1.6% move from the previous day. This change outpaced the S&P 500's 0.38% gain on the day. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.73%.
Prior to today's trading, shares of the company had lost 16.41% over the past month. This has lagged the Business Services sector's gain of 3.65% and the S&P 500's gain of 3.19% in that time.
LMB will be looking to display strength as it nears its next earnings release. In that report, analysts expect LMB to post earnings of $0.19 per share. This would mark year-over-year growth of 111.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $138 million, down 1.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.07 per share and revenue of $559.98 million, which would represent changes of +305.77% and +2.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for LMB. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. LMB is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note LMB's current valuation metrics, including its Forward P/E ratio of 7.65. This represents a discount compared to its industry's average Forward P/E of 27.5.
Also, we should mention that LMB has a PEG ratio of 0.48. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Building Products - Maintenance Service was holding an average PEG ratio of 1.22 at yesterday's closing price.
The Building Products - Maintenance Service industry is part of the Business Services sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportLimbach Holdings, Inc. (LMB) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Tencent Holding (TCEHY) Outpaces Stock Market Gains: What You Should Know
Tencent Holding (TCEHY) closed at $45.36 in the latest trading session, marking a +0.91% move from the prior day. This move outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Coming into today, shares of the company had gained 8.44% in the past month. In that same time, the Computer and Technology sector gained 2.98%, while the S&P 500 gained 3.19%.
Wall Street will be looking for positivity from TCEHY as it approaches its next earnings report date. In that report, analysts expect TCEHY to post earnings of $0.36 per share. This would mark year-over-year growth of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $13.57 billion, up 17.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.45 per share and revenue of $57.55 billion. These totals would mark changes of +23.93% and +21.83%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for TCEHY. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TCEHY is currently a Zacks Rank #3 (Hold).
Looking at its valuation, TCEHY is holding a Forward P/E ratio of 30.95. Its industry sports an average Forward P/E of 28.72, so we one might conclude that TCEHY is trading at a premium comparatively.
Investors should also note that TCEHY has a PEG ratio of 1.32 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Services industry currently had an average PEG ratio of 2.75 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 61, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TCEHY in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportTencent Holding Ltd. (TCEHY) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Chesapeake Energy (CHK) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Chesapeake Energy (CHK) closed at $1.88, marking a -1.57% move from the previous day. This change lagged the S&P 500's 0.38% gain on the day. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.73%. Prior to today's trading, shares of the natural gas company had lost 10.75% over the past month. This has lagged the Oils-Energy sector's gain of 3.31% and the S&P 500's gain of 3.19% in that time. Investors will be hoping for strength from CHK as it approaches its next earnings release. On that day, CHK is projected to report earnings of -$0.02 per share, which would represent a year-over-year decline of 113.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.21 billion, up 22.99% from the year-ago period. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.06 per share and revenue of $4.89 billion. These totals would mark changes of -106.67% and -5.09%, respectively, from last year. Investors should also note any recent changes to analyst estimates for CHK. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.62% lower. CHK is currently sporting a Zacks Rank of #4 (Sell). The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries. Story continues The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report To read this article on Zacks.com click here. |
Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Occidental Petroleum (OXY) closed at $49.71 in the latest trading session, marking a -1.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Coming into today, shares of the oil and gas exploration and production company had lost 3.04% in the past month. In that same time, the Oils-Energy sector gained 3.31%, while the S&P 500 gained 3.19%.
Investors will be hoping for strength from OXY as it approaches its next earnings release. The company is expected to report EPS of $1.08, down 1.82% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.50 billion, up 10.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.77 per share and revenue of $17.19 billion. These totals would mark changes of -24.75% and -8.96%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for OXY. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.71% lower within the past month. OXY is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note OXY's current valuation metrics, including its Forward P/E ratio of 13.36. Its industry sports an average Forward P/E of 14.11, so we one might conclude that OXY is trading at a discount comparatively.
Meanwhile, OXY's PEG ratio is currently 2.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. OXY's industry had an average PEG ratio of 1.56 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportOccidental Petroleum Corporation (OXY) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Cisco Systems (CSCO) Stock Sinks As Market Gains: What You Should Know
Cisco Systems (CSCO) closed at $55.73 in the latest trading session, marking a -1.54% move from the prior day. This move lagged the S&P 500's daily gain of 0.38%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.73%.
Prior to today's trading, shares of the seller of routers, switches, software and services had gained 6.43% over the past month. This has outpaced the Computer and Technology sector's gain of 2.98% and the S&P 500's gain of 3.19% in that time.
CSCO will be looking to display strength as it nears its next earnings release. On that day, CSCO is projected to report earnings of $0.82 per share, which would represent year-over-year growth of 17.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.39 billion, up 4.23% from the year-ago period.
CSCO's full-year Zacks Consensus Estimates are calling for earnings of $3.08 per share and revenue of $51.86 billion. These results would represent year-over-year changes of +18.46% and +5.12%, respectively.
Investors might also notice recent changes to analyst estimates for CSCO. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CSCO is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, CSCO currently has a Forward P/E ratio of 18.39. Its industry sports an average Forward P/E of 18.39, so we one might conclude that CSCO is trading at a no noticeable deviation comparatively.
It is also worth noting that CSCO currently has a PEG ratio of 2.63. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Networking industry currently had an average PEG ratio of 2.54 as of yesterday's close.
The Computer - Networking industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CSCO in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCisco Systems, Inc. (CSCO) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
GoPro (GPRO) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, GoPro (GPRO) closed at $5.52, marking a -1.78% move from the previous day. This change lagged the S&P 500's 0.38% gain on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Prior to today's trading, shares of the action video camera maker had lost 15.87% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.95% and the S&P 500's gain of 3.19% in that time.
Wall Street will be looking for positivity from GPRO as it approaches its next earnings report date. In that report, analysts expect GPRO to post earnings of $0.04 per share. This would mark year-over-year growth of 126.67%. Our most recent consensus estimate is calling for quarterly revenue of $301.28 million, up 6.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.38 per share and revenue of $1.26 billion. These totals would mark changes of +265.22% and +9.77%, respectively, from last year.
Any recent changes to analyst estimates for GPRO should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GPRO is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, GPRO is holding a Forward P/E ratio of 14.79. Its industry sports an average Forward P/E of 13.9, so we one might conclude that GPRO is trading at a premium comparatively.
Also, we should mention that GPRO has a PEG ratio of 1.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Audio Video Production was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportGoPro, Inc. (GPRO) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
DXC Technology (DXC) Gains But Lags Market: What You Should Know
DXC Technology (DXC) closed the most recent trading day at $53.76, moving +0.26% from the previous trading session. This change lagged the S&P 500's 0.38% gain on the day. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Coming into today, shares of the information technology company had gained 7.89% in the past month. In that same time, the Computer and Technology sector gained 2.98%, while the S&P 500 gained 3.19%.
Investors will be hoping for strength from DXC as it approaches its next earnings release. On that day, DXC is projected to report earnings of $1.73 per share, which would represent a year-over-year decline of 10.36%. Our most recent consensus estimate is calling for quarterly revenue of $4.92 billion, down 6.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.18 per share and revenue of $20.83 billion. These totals would mark changes of -1.92% and +0.39%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for DXC. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DXC is currently a Zacks Rank #4 (Sell).
Investors should also note DXC's current valuation metrics, including its Forward P/E ratio of 6.56. Its industry sports an average Forward P/E of 19.15, so we one might conclude that DXC is trading at a discount comparatively.
Investors should also note that DXC has a PEG ratio of 1.67 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. DXC's industry had an average PEG ratio of 1.67 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportDXC Technology Company. (DXC) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Ram tough: FCA turns up the heat on GM and Ford in U.S. truck sales war
By Nick Carey, Paul Lienert and Joseph White
DETROIT (Reuters) - At Planet Ford, which boasts it is the No. 1 Ford volume dealer in the Houston area, customers shopping for a 2019 F-150 pickup truck can get discounts from Ford Motor Co <F.N> of more than $8,000 - and that is just the start.
The dealership's website lists a dozen other ways for truck buyers to get a price cut: being a student, a member of the military or a first-responder organization, a season-ticket holder for the National Football League's Houston Texans, or a member of the Farm Bureau.
"Ford is a sponsor of the Houston Rodeo, and offers an additional $1,000 rebate on the F-150 to people who volunteer with the rodeo," said Aaron Smith, general sales manager at Planet Ford.
Rodeo fans would feel right at home watching the frenzied competition in the U.S. large pickup truck market.
Fiat Chrysler Automobiles (FCA) <FCHA.MI> <FCAU.N>, General Motors Co <GM.N> and Ford escalated a price war in June in one of the few vehicle market segments on the planet that offers substantial profits - and one in which the three Detroit automakers enjoy an oligopoly, shielded by heavy tariffs on foreign competition.
During the past month, dealers for FCA's Ram truck brand, GM's Chevrolet Silverado and GMC Sierra trucks and Ford's F-series truck line have been offering discounts of up to 30% or more off the list price. The GMC brand is promoting June as "Truck Month," signaling to consumers that deep discounts are on offer until the close of the sales reporting period, July 1.
U.S. automakers report June and second-quarter sales next week.
DRAMATIC DISCOUNTS
While the heavy discounts are available in much of the country, not all dealers are offering such deals. More popular limited-production models such as Ford's F-150 Raptor are selling for full retail price.
Overall, discounts on light-duty pickup trucks in June have averaged $5,250, 11% higher than the year-to-date average of $4,726, according to market research firm J.D. Power.
The price-cutting is unusual because FCA's Ram brand and GM's Chevrolet and GMC brands launched new versions of their large pickups within the last year. Normally, automakers avoid major discounts on freshly redesigned vehicles.
But these are not normal times. FCA Chief Executive Officer Mike Manley said last year he wants to move the Ram pickup line into second place in U.S. sales, displacing Silverado and closing the gap with Ford's F-series, the segment leader for 42 years.
The new Ram has received enthusiastic reviews for its stylish interior and optional 12-inch (30.5 cm) display screen, and sales are up nearly 22% this year through May, selling 22,000 more vehicles than the Silverado.
"Clearly, FCA is trying to grab market share while GM is still ramping up," said Cox Automotive analyst Michelle Krebs.
FCA said in a statement on Thursday the automaker will "stick with what works for us."
BALANCED APPROACH
GM is under pressure to deliver as much as $10 billion in free cash flow in the final three quarters of 2019 to hit its full-year target, amid stagnant U.S. demand and plummeting industry sales in China.
GM will report second-quarter U.S. sales on July 2. Automotive News estimated Silverado sales fell 11.8% through May, while sales of the higher-priced GMC Sierra were up 4%.
"We will defend our franchise and we will do it the right way," said Barry Engle, head of GM's North American operations. "We're not going to just roll over and allow our truck business to be taken away from us."
Engle said Silverado sales numbers in part reflect an effort to build more higher-margin Sierras aimed at buyers willing to spend extra dollars on a luxury truck.
Ford, which has the oldest pickup truck in the market, had flat F-series sales through the end of May.
"It's a bit unprecedented," said Ford's truck marketing manager, Todd Eckert, of the heavy discounting so early in the life cycle of his rivals' trucks.
Ford will defend its position, but not at any cost, he said: "It's about having a balanced approach."
Because incentives erode profit margins, the automakers continue to juggle discounts against diminished margins.
"This is a segment that has been profitable for all of us," said GM's Engle. "We’d like to keep it that way."
(Reporting by Nick Carey, Paul Lienert and Joseph White in Detroit; Editing by Matthew Lewis) |
eToroX runs Libra implementation trial
eToroX’s Labs Blockchain Science team has written a Libra implementation to check out Libra’s capabilities, eToro has written ina blog post. eToroX’s Labs Blockchain Science team decided to run a trial using Facebook’s Move IR, the intermediary representative which will in the future become the programming language used in Libra.
The team used eToken Implementation which is deployed on the Ethereum blockchain. It “wrote and executed a basic implementation” to test how a token could work on Libra.
According to the eToroX team, Move is similar to Rust programming language. However, unlike Rust, it defines 'resource' differently. eToroX outlined two crucial differences.
First of all, Move doesn’t allow resources to be moved or copied. It is “an extremely constructive and beneficial capability, especially for digital assets, since it prevents accidental duplication and loss,” the blog post reads.
Moreover, Move prevents publishing data on behalf of other users. Therefore, users need to acknowledge everything published, giving them full control over the information they choose to share.
eToroX concludes, “All in all, Libra and Move IR is a welcome step forward in smart-contract development. Having strong asset-guarantees helps developers to produce less error-prone code and move faster.” However, it adds that at this point Move IR is still not user-friendly. |
Tesla (TSLA) Faces Difficulty to Reach Delivery Target for Q2
Tesla, Inc.TSLA has delivered 49,000 vehicles in North America so far in second-quarter 2019, per Reuters. According to Electrek, this is below the electric vehicle (EV) giant’s expectation and is likely to affect its goal of creating a record for new vehicle delivery in the quarter.In first-quarter 2019, Tesla’s vehicle production and delivery numbers witnessed sequential declines of 10.9% and 31%, respectively. In the same quarter, it managed to produce roughly 77,100 vehicles — consisting of 62,950 Model 3, and 14,150 Model S and X. Out of the total delivered figure of 63,000 units, the company’s Model 3 accounted for 50,900 while Model S and X were 12,100. This raised concerns about its ability to make profits and meet its delivery targets while encountering issues pertaining to cash flow and manufacturing.However, Tesla’s chief executive officer, Elon Musk, stated that the company has enough orders to set a record for vehicle deliveries in the second quarter. In a leaked email, he has added that there is no scarcity of orders but right vehicles are not all in right locations yet.Zacks Rank & Stocks to ConsiderTesla currently carries a Zacks Rank #5 (Strong Sell).A few better-ranked stocks in the auto space are Ford Motor Company F, Fox Factory Holding Corp. FOXF and Cummins Inc. CMI, each currently carrying a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Ford has an expected long-term growth rate of 7.3%. Over the past six months, shares of the company have gained 26.9%.Fox Factory has an expected long-term growth rate of 16.4%. Over the past six months, shares of the company have gained 33.2%.Cummins has an expected long-term growth rate of 8%. Over the past six months, shares of the company have gained 28.3%.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119%and +164%in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFord Motor Company (F) : Free Stock Analysis ReportFox Factory Holding Corp. (FOXF) : Free Stock Analysis ReportTesla, Inc. (TSLA) : Free Stock Analysis ReportCummins Inc. (CMI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
US Lawmakers Question Terrorist Use of Facebook Cryptocurrency
Members of the U.S. House of Representatives questioned Financial Crime Enforcement Network (FinCEN) director Kenneth Blanco about Facebook’s planned cryptocurrency Thursday.
Representatives Emanuel Cleaver, II (D-MO), Trey Hollingsworth (R-IN), Bill Foster (D-IL) and French Hill (R-AR) held a briefing with members of the House Financial Services Committee, discussing the Libra project with Blanco, who heads upFinCEN, the U.S. Treasury Department’s anti-money-laundering wing.
The briefing was held as part of a broader look at how machine learning and artificial intelligence can limit illicit money laundering and related activities.
Related:ShapeShift Founder Says Crypto Exchange Service Will Support Libra
Cleaver’s concern seems to stem from Facebook’s alleged role in improperly storing user data and spreading misinformation over the past few years, according to a press release.
“We’ve seen the significant damage that foreign adversaries and bad actors have wrought on our democracy through Facebook’s platform, and that was simply through messaging and advertising,” he said in a statement, adding:
“Before we allow such a giant corporation to begin processing millions to billions of financial transactions, we have to study these issues and ensure we have the tools and guardrails in place to deter terrorists, extremists, and/or enemies from utilizing such a platform to do harm to our nation.”
While the release did not reveal what Blanco’s views on Libra are, or whether or how FinCEN intends to oversee the project, it did say that Cleaver’s questions focused on Libra and Calibra, a new Facebook subsidiary that will develop digital wallets and other services for the cryptocurrency.
Related:Facebook Seeks Wallet Engineers as Blockchain Job Openings Top 30
Calibra registered as a money services business with FinCEN earlier this year.
Broadly, “nefarious actors” are finding new ways to conduct illicit financial activities, Cleaver said in the statement, citing cryptocurrencies and other new marketplaces as tools these actors can adapt.
“Now that we’re seeing a giant corporation like Facebook—which has already shown an inability to identify and impede these kinds of actors at an acceptable level—creating its own virtual currency called Libra, it cannot be understated the importance of Congress and financial transmitters to be proactive in utilizing the newest and most powerful technologies to ensure the financial system is not being used improperly,” he added.
He went on to say that the briefing participants “had a fruitful discussion” on how the U.S. can take steps to prevent misuse.
Thursday’s briefing comes amid wide bipartisan backlash to Facebook’s cryptocurrency plan, which was formally unveiled last week.
The fullHouse Financial Services Committeeis scheduled to hold a hearing on Libra next month, a day after theSenate Banking Committeeholds its own.
Other regulators worldwide are examining the cryptocurrency, with the G7convening a task forceto investigate its implications.
Cleaver has long been concerned with potentially illegal activities conducted with cryptocurrencies. According to the release, he has called on the Bitcoin Foundation and the Chamber of Digital Commerce to find ways of preventing extremist groups from using cryptocurrencies.
He has also called on FinCEN toinvestigate the space, after U.S. special counsel Robert Mueller found that Russian intelligence officialsused bitcoin to fund activitiesinterfering with the 2016 presidential election.
Image via Shutterstock
• Singapore’s Central Bank Wants More Information on Facebook’s Libra Crypto
• Buried in Facebook’s Libra White Paper, a Digital Identity Bombshell |
5 Companies Boosting Earnings
Royal Caribbean, Centene make the list |
Jackie O.’s Martha’s Vineyard Compound Is On the Market for $65 Million
A significant piece of the Kennedy legacy is currently on the real estate market for a record amount. Caroline Kennedy, the daughter of Jacqueline Kennedy Onassis and former President John F. Kennedy , has listed her mother's Martha's Vineyard compound (known as Red Gate Farm) for $65 million. If the home is sold at asking price, it will mark the most expensive sale of a single-family estate on the Massachusetts island. The current record was set in January, when an estate previously belonging to Washington Post publisher Katharine Graham was sold for $32.5 million. When Onassis first bought the 340-acre property for just over $1 million in 1979, the only structure on the land was a hunting cabin (which still stands). Since then, however, the estate has blossomed to include a 6,456-square-foot cedar-shingled main residence with five bedrooms and five full and two half-bathrooms; a two-story guest house with four bedrooms and three bathrooms; a caretaker’s house with three bedrooms; a boat house; a temperature- and humidity-controlled storage building; and two garages. The grounds also include a pool and tennis court, as well as a fairy treehouse that Onassis had built for her grandchildren. “Forty years ago, my mother fell in love with Martha’s Vineyard. When she found Red Gate Farm, it was a perfect expression of her romantic and adventurous spirit,” Caroline said in a statement. “The dunes and ponds and rolling hills of Aquinnah gave her the chance to create a world where she could be so close to nature, close to her family and friends, and, most importantly, close to her beloved books.” The property, known as Red Gate Farm, was originally designed by Hugh Newell Jacobsen. Photo: Laura Moss Photography / Courtesy of Christie’s International Real Estate The Cape Cod saltbox-style main home and the two-story guesthouse were originally designed by architect Hugh Newell Jacobsen, and later renovated by Deborah Berke, dean of the Yale School of Architecture. The main residence includes a formal sitting room with a fireplace, a drawing room, a living room, a family room, a dining room, a kitchen, and a library, not to mention two outdoor decks, a den, and two offices that could easily be converted into art studios. Each of the five bedrooms are en suite, and every room except the dining room has views of the ocean. Story continues “The idea was to make rooms where the family could gather, where they could entertain a large circle of friends and be able to house guests,” Berke told The Wall Street Journal . Located at the very tip of Martha’s Vineyard, the location of Red Gate Farm offers the utmost privacy, and is beautifully landscaped thanks to Jackie O.'s friend, landscape designer Rachel “Bunny” Mellon , who also helped redesign the White House Rose Garden when Onassis was first lady. The family room at Red Gate Farm in Martha's Vineyard. Photo: Laura Moss Photography / Courtesy of Christie’s International Real Estate In addition to the pool, tennis court, and treehouse, there is also a vegetable garden and a blueberry patch on the property. Over the years, Onassis entertained many guests at her Martha’s Vineyard home, including First Lady Claudia Alta “Lady Bird” Taylor Johnson, President Bill Clinton, and former Secretary of State Hillary Clinton. Caroline's reason for finally offloading her mother’s historic home is that her own three children have grown up, and in her words, it’s time for the family to “spread its wings” and “to follow my mother’s example and create our own worlds.” Red Gate Farm is listed with Christie’s International Real Estate . Originally Appeared on Architectural Digest |
Crocs (CROX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Crocs (CROX) closed at $19.63, marking a +0.67% move from the previous day. This move outpaced the S&P 500's daily gain of 0.38%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.73%.
Coming into today, shares of the footwear company had lost 0.36% in the past month. In that same time, the Consumer Discretionary sector gained 1.95%, while the S&P 500 gained 3.19%.
CROX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.48, up 37.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $357.23 million, up 8.91% from the year-ago period.
CROX's full-year Zacks Consensus Estimates are calling for earnings of $1.25 per share and revenue of $1.16 billion. These results would represent year-over-year changes of +45.35% and +6.77%, respectively.
Investors might also notice recent changes to analyst estimates for CROX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CROX currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note CROX's current valuation metrics, including its Forward P/E ratio of 15.66. This valuation marks a premium compared to its industry's average Forward P/E of 15.36.
We can also see that CROX currently has a PEG ratio of 1.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.46 based on yesterday's closing prices.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCrocs, Inc. (CROX) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
GW Pharmaceuticals PLC (GWPH) Outpaces Stock Market Gains: What You Should Know
GW Pharmaceuticals PLC (GWPH) closed at $170.20 in the latest trading session, marking a +0.89% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Coming into today, shares of the company had lost 6.8% in the past month. In that same time, the Medical sector gained 2.33%, while the S&P 500 gained 3.19%.
Wall Street will be looking for positivity from GWPH as it approaches its next earnings report date. The company is expected to report EPS of -$0.13, up 89.68% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $63.37 million, up 1731.5% from the year-ago period.
It is also important to note the recent changes to analyst estimates for GWPH. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. GWPH is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportGW Pharmaceuticals PLC (GWPH) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
Wells Fargo (WFC) closed at $46.29 in the latest trading session, marking a +1.07% move from the prior day. This move outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had gained 0.7% over the past month. This has lagged the Finance sector's gain of 1.54% and the S&P 500's gain of 3.19% in that time.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. This is expected to be July 16, 2019. In that report, analysts expect WFC to post earnings of $1.16 per share. This would mark year-over-year growth of 7.41%. Meanwhile, our latest consensus estimate is calling for revenue of $20.92 billion, down 2.95% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.70 per share and revenue of $83.48 billion. These totals would mark changes of +9.81% and -3.39%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for WFC. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.68% lower within the past month. WFC is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that WFC has a Forward P/E ratio of 9.75 right now. For comparison, its industry has an average Forward P/E of 10.78, which means WFC is trading at a discount to the group.
It is also worth noting that WFC currently has a PEG ratio of 0.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. WFC's industry had an average PEG ratio of 1.32 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Atlantic Power (AT) Outpaces Stock Market Gains: What You Should Know
Atlantic Power (AT) closed the most recent trading day at $2.38, moving +1.71% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Coming into today, shares of the utility had gained 1.3% in the past month. In that same time, the Utilities sector gained 1.65%, while the S&P 500 gained 3.19%.
Wall Street will be looking for positivity from AT as it approaches its next earnings report date. In that report, analysts expect AT to post earnings of $0.04 per share. This would mark year-over-year growth of 166.67%.
AT's full-year Zacks Consensus Estimates are calling for earnings of $0.24 per share and revenue of $288 million. These results would represent year-over-year changes of +50% and +2.02%, respectively.
Any recent changes to analyst estimates for AT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AT is currently a Zacks Rank #1 (Strong Buy).
Investors should also note AT's current valuation metrics, including its Forward P/E ratio of 9.75. This represents a discount compared to its industry's average Forward P/E of 20.12.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAtlantic Power Corporation (AT) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Southern Co. (SO) Gains But Lags Market: What You Should Know
Southern Co. (SO) closed the most recent trading day at $55.08, moving +0.18% from the previous trading session. This move lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Prior to today's trading, shares of the power company had gained 3.95% over the past month. This has outpaced the Utilities sector's gain of 1.65% and the S&P 500's gain of 3.19% in that time.
Wall Street will be looking for positivity from SO as it approaches its next earnings report date. On that day, SO is projected to report earnings of $0.71 per share, which would represent a year-over-year decline of 11.25%. Our most recent consensus estimate is calling for quarterly revenue of $5.04 billion, down 10.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.03 per share and revenue of $22.35 billion. These totals would mark changes of -1.3% and -4.86%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. SO is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, SO currently has a Forward P/E ratio of 18.14. For comparison, its industry has an average Forward P/E of 20.12, which means SO is trading at a discount to the group.
Meanwhile, SO's PEG ratio is currently 4.03. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Utility - Electric Power stocks are, on average, holding a PEG ratio of 3.78 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SO in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSouthern Company (The) (SO) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Electronic Arts (EA) Outpaces Stock Market Gains: What You Should Know
Electronic Arts (EA) closed at $99.14 in the latest trading session, marking a +1.87% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Prior to today's trading, shares of the video game maker had gained 5.15% over the past month. This has outpaced the Consumer Discretionary sector's gain of 1.95% and the S&P 500's gain of 3.19% in that time.
EA will be looking to display strength as it nears its next earnings release. On that day, EA is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 92.31%. Meanwhile, our latest consensus estimate is calling for revenue of $732.53 million, down 8.2% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.57 per share and revenue of $5.18 billion, which would represent changes of -2.56% and +3.83%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for EA. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% higher. EA is currently a Zacks Rank #3 (Hold).
Digging into valuation, EA currently has a Forward P/E ratio of 21.29. For comparison, its industry has an average Forward P/E of 21.26, which means EA is trading at a premium to the group.
We can also see that EA currently has a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Toys - Games - Hobbies was holding an average PEG ratio of 2.1 at yesterday's closing price.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportElectronic Arts Inc. (EA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Enbridge (ENB) Outpaces Stock Market Gains: What You Should Know
Enbridge (ENB) closed the most recent trading day at $35.54, moving +1.37% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had lost 5.58% over the past month. This has lagged the Oils-Energy sector's gain of 3.31% and the S&P 500's gain of 3.19% in that time.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. On that day, ENB is projected to report earnings of $0.39 per share, which would represent a year-over-year decline of 37.1%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.89 per share and revenue of $37.15 billion. These totals would mark changes of -7.8% and -3.45%, respectively, from last year.
Any recent changes to analyst estimates for ENB should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.43% lower within the past month. ENB is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note ENB's current valuation metrics, including its Forward P/E ratio of 18.55. This represents a premium compared to its industry's average Forward P/E of 15.5.
We can also see that ENB currently has a PEG ratio of 2.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 4.41 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportEnbridge Inc (ENB) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
CannTrust Holdings Inc. (CTST) Gains But Lags Market: What You Should Know
CannTrust Holdings Inc. (CTST) closed the most recent trading day at $4.98, moving +0.2% from the previous trading session. This change lagged the S&P 500's 0.38% gain on the day. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Coming into today, shares of the company had lost 11.41% in the past month. In that same time, the Medical sector gained 2.33%, while the S&P 500 gained 3.19%.
Investors will be hoping for strength from CTST as it approaches its next earnings release. Our most recent consensus estimate is calling for quarterly revenue of $18.99 million, up 170.9% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.01 per share and revenue of $95.30 million. These totals would mark changes of +90.91% and +171.62%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CTST. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 100% lower within the past month. CTST is currently a Zacks Rank #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCannTrust Holdings Inc. (CTST) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Wix.com (WIX) Outpaces Stock Market Gains: What You Should Know
Wix.com (WIX) closed the most recent trading day at $140.95, moving +0.97% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.73%.
Coming into today, shares of the cloud-based web development company had gained 4.22% in the past month. In that same time, the Computer and Technology sector gained 2.98%, while the S&P 500 gained 3.19%.
Wall Street will be looking for positivity from WIX as it approaches its next earnings report date. In that report, analysts expect WIX to post earnings of $0.15 per share. This would mark a year-over-year decline of 48.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $183.78 million, up 25.77% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.77 per share and revenue of $761.91 million. These totals would mark changes of -28.04% and +26.21%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for WIX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. WIX currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, WIX currently has a Forward P/E ratio of 181.29. For comparison, its industry has an average Forward P/E of 19.15, which means WIX is trading at a premium to the group.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WIX in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportWix.com Ltd. (WIX) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Abbott (ABT) Outpaces Stock Market Gains: What You Should Know
Abbott (ABT) closed the most recent trading day at $83.69, moving +0.88% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%. Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 9.63% over the past month, outpacing the Medical sector's gain of 2.33% and the S&P 500's gain of 3.19% in that time. Wall Street will be looking for positivity from ABT as it approaches its next earnings report date. This is expected to be July 17, 2019. In that report, analysts expect ABT to post earnings of $0.80 per share. This would mark year-over-year growth of 9.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.99 billion, up 2.82% from the year-ago period. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.22 per share and revenue of $31.92 billion. These totals would mark changes of +11.81% and +4.4%, respectively, from last year. Any recent changes to analyst estimates for ABT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ABT is currently a Zacks Rank #3 (Hold). Investors should also note ABT's current valuation metrics, including its Forward P/E ratio of 25.79. For comparison, its industry has an average Forward P/E of 26.14, which means ABT is trading at a discount to the group. Story continues It is also worth noting that ABT currently has a PEG ratio of 2.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABT's industry had an average PEG ratio of 2.44 as of yesterday's close. The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abbott Laboratories (ABT) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
Why Shares of PG&E Climbed on Thursday
Shares of troubled California utilityPG&E(NYSE: PCG)climbed 10.3% on Thursday as investors continue to digest a rival reorganization plan being floated by some of the company's bondholders. The exact details of the competing plans remain somewhat of a mystery, but the markets could be in for a rude awakening if the rival plan gains traction.
PG&Efiled for bankruptcy protectionin late January as part of a plan to deal with upwards of $30 billion in wildfire liabilities stemming from a blaze last fall. The so-called Camp Fire in northern California, which resulted in 85 deaths and massive property damage, was sparked by a PG&E power line.
The company is hopeful to use bankruptcy protection to manage the damages stemming from those fires and establish a framework to deal with potential liabilities from future fires. PG&E is slowly making progress in that effort, with California Gov. Gavin Newsompushing lawmakersto establish a wildfire fund to assist utilities with future liabilities.
Image source: Getty Images.
PG&E is currently formulating a plan to emerge from bankruptcy that reportedly would lean on existing California state bonds and newly issued bonds secured by future revenues. The official company plan does not seem to require new shares to be issued, saving existing holders from dilution.
A committee of PG&E bondholders on June 25 filed a competing plan that would inject as much as $30 billion in the utility, with much of it in the form of new equity. The committee is asking the court to terminate PG&E's exclusive period to file and confirm its own plan, saying the utility has been too slow in getting its act together.
There are a lot of details to be worked out in the competing plan, but on the surface, it would be far less kind to existing holders than the company's stated intention.
So why are shares rallying on the prospect of a more equity-focused plan that could dilute existing holders? For one thing, due to bankruptcy court rules, there's no reason to believe the bondholder committee plan will ever be heard.
And while the details of the bondholder plan might be objectionable to shareholders, existing investors are likely to agree with the group that the process is moving slowly as the utility tries to appease a wide range of constituents and could view the competing plan as a catalyst to get the process moving and get PG&E out of bankruptcy.
More broadly, it could be argued that the addition of equity, while painful to existing holders in the near term, could be beneficial over time. PG&E needs substantial resources to get back on firm footing and ensure it won't be back in bankruptcy should another devastating fire hit.
The introduction of some amount of equity financing is likely a necessary part of the equation.
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Lou Whitemanhas 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. |
Will Amazon (AMZN) be Rite-Aid's (RAD) Bandage?
Rite Aid Corporation RAD posted its Q1 2020 earnings results on Wednesday, June 26, after market close. This report was disappointing with an adjusted loss of -$0.14 per share, a steep dive from our zacks Consensus Estimate of +$0.02. Rite Aid’s sales were essentially flat from this time last year, with $5.4 billion in revenues this quarter.
Rite Aid is a Zacks Rank #2 (Buy) right now, but this could change as more analysts update their outlooks following RAD’s less-than-impressive first-quarter showing.
Why Did Earnings Fall?
Rite Aid has been in a tough spot for a few years now. The drug store chain has attempted to sell itself twice and offloaded roughly half of its locations to Walgreens WBA. Things were not much better this quarter, with adjusted net losses at $7.5 million, compared to last years adjusted profits of $1 million. Company executives cited issues with pharmacy services margins, prescription reimbursements, and corporate restructuring as reasons for its lower earnings.
Prescription reimbursement rates dropped again this quarter, which has impacted revenues for all retail pharmacies like Rite Aid, Walgreens, and CVS CVS. Margin compression in pharmacy services was also helped RAD’s earnings fall. Plus, Rite Aid had a large non-regular outlay this quarter for severance packages, as it undergoes corporate downsizing and restructuring.
Rite Aid did post a 3.7% increase in same-store prescription count this quarter, helping to offset lower revenues. Rite Aid also added 108,000 Medicaid Part D members, boosted by a marketing campaign. These new members accounted for a 1.5%, or a $23 million increase in pharmacy services revenue to $1.57 billion.
Impact
Surprisingly, Rite Aid stock did not tank after its earnings miss. In fact, RAD climbed 9.6% on market open and has continued to post gains of 20.25% total on the day. This climb is likely because investors understand that much of the loss was due to Rite Aid’s corporate and retail restructuring. And many might see further value in the company’s future earnings potential.
During the earnings call, Rite Aid’s CFO indicated that the restructuring plan is on track in terms of projected costs and timelines. He also maintained fiscal 2020 guidance, projecting EPS for next quarter between -$0.14 per share and $0.72 per share. This likely calmed investor nerves, helping show that while the company missed earnings this quarter, it is a stable business with projections for profits in the near future.
Looking Forward
Rite Aid spoke about a number of exciting developments during the earnings call that will help lead the company into the future. Recently, Rite Aid joined Anthem’s Medicaid preferred network. Anthem is the largest for-profit MCO in the country, which will increase RAD’s addressable market for pharmacy services significantly.
In Oregon and Washington, Rite Aid shelves display an assortment of CBD products. Rite Aid is running a trial of these new products in the Pacific northwest before rolling them out across the country. This could help boost revenues since CBD is a trend growing very quickly.
Amazon
Perhaps most importantly, Rite Aid announced a partnership with Amazon AMZN. Amazon began to roll out a new service called Counter that allows customers to pick up packages from secure lockers at designated locations. Rite Aid plans to put these stations in 1,500 stores by the end of the year. These pickup counters should help increase traffic at Rite Aid stores, which could help lift sales.
Rite Aid expects its Amazon partnership will generate significant business. If this happens, it might bring RAD back to profitability and raise the public image of the pharmacy chain. Rite Aid is seemingly placing a lot of trust in the Amazon partnership to bring back profitability, but at the very least it won’t hurt.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportCVS Health Corporation (CVS) : Free Stock Analysis ReportWalgreens Boots Alliance, Inc. (WBA) : Free Stock Analysis ReportRite Aid Corporation (RAD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
UPDATE 2-Deutsche Bank passes Fed stress test in boost for its U.S. operations
* Credit Suisse receives conditional pass
* JPMorgan was asked to resubmit capital plan
* Deutsche Bank shares up as much as 6 percent
* Credit Suisse shares down as much as 3 percent (Adds comment from Deutsche Bank memo to staff)
By Pete Schroeder and Matt Scuffham
WASHINGTON/NEW YORK, June 27 (Reuters) - Deutsche Bank AG on Thursday passed an annual health check by the Federal Reserve, clearing a second hurdle at a critical time for the German lender in tests administered by the U.S. central bank that measure banks' ability to weather a major economic downturn.
However, the Federal Reserve placed conditions on Credit Suisse's U.S. operations after finding weaknesses in its capital planning processes.
The results provide a boost to the Wall Street operations of Deutsche Bank, Germany's largest lender, which have been plagued by litigation, underperformance and regulatory investigations.
The tests assess whether it is safe for banks to implement their capital plans, including using extra capital for stock buybacks, dividends and other purposes beyond providing a cushion against losses. They are designed to avoid the taxpayer bailouts the government resorted to in the 2007-2009 financial crisis.
Deutsche Bank's U.S. shares were up as much as 6 percent in after-the-bell trading following the announcement. Credit Suisse's U.S. shares fell as much as 3 percent.
The Fed approved the capital plans of the 16 other banks that underwent this year's test, which includes the nation's largest lenders like JPMorgan Chase, Bank of America and Citigroup.
JPMorgan, following the test results, announced plans to increase its quarterly dividend to 90 cents per share from 80 cents, starting in the third quarter, and buy back up to $29.4 billion of shares over the next year.
JPMorgan shares rose as much as 1.9 percent while Bank of America shares were up 1.8 percent and Citigroup advanced 1.5 percent after-the-bell.
JPMorgan was asked to resubmit its proposal after the Fed assessed its initial plan would result in the bank's falling below the minimum capital it is required to hold to cope with a downturn.
Banks normally resubmit when they are pushing to return the maximum amount of capital possible to shareholders and overestimate what the Fed will allow them to do in their initial proposal, banking and regulatory sources say.
FED CITES STRONG CAPITAL LEVELS
The Fed's stamp of approval gives Deutsche a major boost as it works on a restructuring plan. The bank flunked the test in 2015, 2016 and 2018. Another failure would have further damaged confidence among clients and investors at a time when Chief Executive Christian Sewing is battling to turn around the bank.
In a memo to staff published on the bank's website, Sewing said the Fed's decision was "excellent news".
"Achieving success here was one of the key goals we set a year ago. It is a huge step forward for our business in the U.S. and globally. A strong operating platform in the Americas is essential to our clients," he said.
The Federal Reserve, meanwhile, ordered Credit Suisse to address weaknesses in its capital adequacy process by October, and restricted its capital distributions to last year's levels until the weaknesses are addressed. The Fed said it had identified "weaknesses in the assumptions used by the firm to project stressed trading losses that raise concerns about the firm's capital adequacy and capital planning process." It gave no further detail.
Credit Suisse, in an emailed statement, acknowledged the concerns relayed by the Fed and said it expected to remediate the issues by the October deadline.
The Fed said in a statement that the nation's largest banks all have strong capital levels and "virtually all" are meeting supervisory expectations for capital planning.
Deutsche's passing grade reflected the significant progress the bank had made in addressing its weaknesses around capital planning, although some issues remain, according to a senior Fed official.
Deutsche's Sewing told investors at the annual shareholders' meeting last month that the bank planned to make "tough cutbacks" at its investment bank to appease investors unhappy with its underperformance. Those plans are likely to see the bank's U.S. equities business shrunk to a skeleton operation, Reuters reported this month.
The stress test outcome means that Deutsche is now free to make payments to its German parent without approval from the Fed, a restriction which was imposed following the stress test failure last year.
Deutsche maintained a large presence on Wall Street after the 2007-2009 financial crisis, while Credit Suisse made big cuts. However, Deutsche's efforts to compete with U.S. rivals have been hampered by litigation and regulatory investigations.
All the 18 banks easily cleared the first portion of the Fed's annual stress test last week, showing they would easily have enough capital to keep lending during a severe economic downturn.
The second test was more rigorous, assessing whether it is safe for banks to implement their capital plans.
This year's tests are more streamlined following a Fed review of the process. Roughly half as many banks were tested in 2019 compared with 2018, as the Fed moved to a two-year testing cycle for smaller firms. ($1 = 0.8801 euros) (Additional reporting by Caroline Valetkevitch, April Joyner and Liz Dilts; Edited by Neal Templin, Leslie Adler and Jonathan Oatis) |
Do Directors Own Imperial Pacific Limited (ASX:IPC) Shares?
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The big shareholder groups in Imperial Pacific Limited (ASX:IPC) have power over the company. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Warren Buffett said that he likes 'a business with enduring competitive advantages that is run by able and owner-oriented people'. So it's nice to see some insider ownership, because it may suggest that management is owner-oriented.
Imperial Pacific is a smaller company with a market capitalization of AU$3.4m, so it may still be flying under the radar of many institutional investors. In the chart below below, we can see that institutions don't own many shares in the company. Let's delve deeper into each type of owner, to discover more about IPC.
View our latest analysis for Imperial Pacific
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
Since institutions own under 5% of Imperial Pacific, many may not have spent much time considering the stock. But it's clear that some have; and they liked it enough to buy in. If the company is growing earnings, that may indicate that it is just beginning to catch the attention of these deep-pocketed investors. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees.
Imperial Pacific is not owned by hedge funds. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.
The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
Our most recent data indicates that insiders own the majority of Imperial Pacific Limited. This means they can collectively make decisions for the company. That means they own AU$2.6m worth of shares in the AU$3.4m company. That's quite meaningful. Most would be pleased to see the board is investing alongside them. You may wish todiscover(for free)if they have been buying or selling.
The general public holds a 14% stake in IPC. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
It seems that Private Companies own 4.9%, of the IPC stock. 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. Therefore, you may wish to see ourfreecollection of interesting prospects boasting favorable financials.
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. |
Antero Midstream to Pay Off Borrowings with Notes Offering
Antero Midstream CorporationAM announced that its indirect wholly-owned affiliate, Antero Midstream Partners LP, priced senior unsecured notes that were offered to select investors.
The aggregate principal amount of the notes has been upsized to $650 million from $600 million. The company added that the notes, carrying an interest rate of 5.75%, have been priced at par and are likely to mature by 2028. Awaiting customary closing conditions, the notes offering is likely to consummate by Jun 28, 2019.
After subtracting some expenses and discounts, Antero Midstream expects net proceeds of $643 million from the private placement of the notes. The company added that it has outstanding borrowings under the credit facility, part of which will be paid off utilizing proceeds of the notes offering.
Based in Denver, CO, Antero Midstream, with interests in midstream infrastructures that includes gathering pipelines along with compression and fractionation facilities, is mainly focused to offer services to Antero Resources Corp. AR. Since Antero Resources is primarily involved in producing natural gas in prolific plays like the Marcellus and the Utica, the business scenario for Antero Midstream seems unattractive.
Antero Midstrm Price
Antero Midstrm price | Antero Midstrm Quote
Overall, the ongoing trade war between Washington and Beijing is weighing on the global demand for clean energy. The declining natural gas price is also likely to deter Antero Resources to produce more volume of the commodity, which will eventually hurt demand for Antero Midstream’s midstream assets.
As a result, the company currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked players in the energy space are Chevron Corp. CVX and Helix Energy Solutions Group, Inc. HLX. Both stocks currently sport a Zacks Rank #1 (Strong Buy).You can seethe complete list of today’s Zacks #1 Rank stocks here.
Chevron has surpassed the Zacks Consensus Estimate for earnings in three of the past four quarters.
Helix Energy is likely to witness earnings growth of 47.4% through 2019.
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 releasedCentury of Biology: 7 Biotech Stocks to Buy Right Nowto 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 reportAntero Midstrm (AM) : Free Stock Analysis ReportHelix Energy Solutions Group, Inc. (HLX) : Free Stock Analysis ReportChevron Corporation (CVX) : Free Stock Analysis ReportAntero Resources Corporation (AR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Zumiez (ZUMZ) Stock Up 32% Year to Date, Outpaces Industry
Zumiez Inc.ZUMZ looks quite disciplined in its approach of tackling prevailing headwinds in the retail landscape — stiff competition from online retailers and aggressive pricing strategy. Despite the ultra-competitive retail scenario, shares of this Lynnwood, WA-based company have surged approximately 32% so far in the year, outpacing the industry’s decline of 15.8%. The company’s shares have also outperformed the Retail-Wholesale sector that advanced 16.1% during the aforementioned period.In the changing environment, Zumiez has been able to create a niche for itself on the back of e-commerce strategies, omni-channel presence, store expansion, integration of sales channels and other initiatives. In fact, these factors have aided the company in sustaining decent comparable store sales (comps) trend.
Notably, comps grew 3.3% in the first quarter of fiscal 2019, marking the company’s 11th straight quarter of positive comps. The metric benefited from higher transaction volume and growth in dollars per transaction. Strength in the footwear, accessories and hard goods categories also aided comps.
Prior to this, comps increased 3.9%, 4.8%, 6.3% and 8.3% in the fourth, third, second and first quarter of fiscal 2018, respectively. For fiscal 2019, the company expects comps growth in low single digit range.Apart from robust comps, the company’s focus on providing differentiated assortments is impressive. Zumiez has invested much resources to boost localized merchandising assortments. Additionally, it is making investments in logistics, managing costs and taking technology strides.In a bid to provide consumers with quick and easy access to its products and brands, the company is striving to expand its e-commerce and omni-channel platforms. In this regard, Zumiez has considerably improved customers’ experience, by integrating its physical and digital networks. This allows customers to access inventories through all channels, alongside availing facilities like buy online, pick up in store, reserve online and pay in store. We believe that the company’s well-balanced store expansion and e-commerce strategies will help it keep track of the evolving patterns and drive top-line growth.Currently, the company has a long-term earnings growth rate of 13.5% and carries a Zacks Rank #2 (Buy). Also, the company delivered average positive earnings surprise of 46.3% in the trailing four quarters and flaunts a VGM score of B. These show that the stock has more room to run.Other Key PicksThe Children's Place, Inc. PLCE has a long-term earnings growth rate of 8% and a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Deckers Outdoor Corp. DECK has a long-term earnings growth rate of 11.6% and a Zacks Rank #2.L Brands, Inc. LB has a long-term earnings growth rate of 11% and a Zacks Rank #2.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just releasedCentury of Biology: 7 Biotech Stocks to Buy Right Nowto 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 reportL Brands, Inc. (LB) : Free Stock Analysis ReportZumiez Inc. (ZUMZ) : Free Stock Analysis ReportChildren's Place, Inc. (The) (PLCE) : Free Stock Analysis ReportDeckers Outdoor Corporation (DECK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Ethereum Co-Founder’s Polkadot Closes Token Sale, Claims $1.2 Billion Valuation
The Web3 Foundation has closed on a private sale of tokens to fund the development of Polkadot, the ambitious blockchain interoperability project started by ethereum co-founder Gavin Wood.
The Swiss nonprofit said Thursday that the 500,000 DOT tokens (5 percent of the total supply) were sold at the targeted valuation for the project of $1.2 billion, and that investors wanted more than were available. However, the foundation did not disclose the sale’s proceeds, and it is not clear whether the amount raised was the full $60 million sought.
That’s because, as CoinDesk reported last month, three Chinese funds agreed to pay prices that, on average,valued the project below $1 billion. None of those funds were among the investors that Web3 identified in its announcement Thursday (Placeholder, Longhash Incubator, ChainX and Innogy Corporate Ventures).
Related:Messaging Giant Telegram’s ICO Token Is at Last Going on (Limited) Public Sale
It is unclear how many of the 500,000 DOT tokens the Chinese funds bought, but the allocation was not increased, so even if all the other investors in the sale paid full price, it would stand to reason that proceeds fell shy of the target.
That said, some people close to the project have argued that the prices paid by the three Chinese funds do not reflect the market valuation, on the logic that investors can get discounts for buying in bulk or being otherwise valuable partners. Such investors may record the tokens on their balance sheet at full value, even if they paid less for them, the argument goes.
Wood indicated he was happy with the outcome.
“I have been struck by how much interest there is in Polkadot – many of us have sensed an immense hunger for something new to explore,” he said in a statement. “With this success, I look forward to seeing the W3F team put these resources to good use, supporting both Polkadot and the broader Web 3.0 ecosystem.”
Related:$1 Billion Valuation May Elude Ethereum Co-Founder’s New Blockchain Polkadot
Polkadot aspires to build a blockchain network that can enable other blockchains to work in conjunction with each other. The foundation says it expects to launch the network by the end of the year, with steps required to launch the network to begin in Q3.
Chris Burniske, a partner at Placeholder, said in Thursday’s statement that Polkadot “represents a new frontier for experimentation and creation in cryptoland. … We expect Polkadot to not only develop a robust internal ecosystem, but also to become a bedrock network for the entirety of crypto.”
Previously, Web3 Foundation raised $145 million through a public sale of half the total 10 million supply of DOT in October 2017, valuing the tokens around $30 each.
Gavin Wood image via CoinDesk archives
• Blockstream Launches Security Token Platform on Bitcoin Sidechain
• Bitfinex’s Private Token Sale Raised $1 Billion in 10 Days, Exec Says |
'We're here with you': 2020 candidates visit Homestead child migrant detention camp amid immigration outcry
One by one, many of the 2020 Democratic candidates have trusted a small step ladder at the side of a Florida road this week to stand up and bare witness to what activists say has been an atrocity going on months, as migrant children have been packed into a detention centre in Homestead . They have peered over a chain link fence with black mesh that obscures the packed dirt yard inside from the casual passer-by. Inside, they see children in orange hats marching in lines between large tents. They see very little joy. The situation in Homestead, a suburb about an hour from the site of this week’s debates, has snapped into focus in the past week, with reports emerging about squalid conditions at a child migrant detention centre in Texas, alongside the shocking image of a father and daughter from El Salvador who drowned in the Rio Grande river . Beto O’Rourke, the former congressman from Texas, was among those to make the disturbing new pilgrimage on Thursday, where he peered over at the children and held a large heart in the air so they could see. Mr O’Rourke, whose home town El Paso is on the border, then shouted words of encouragement in Spanish. “Estamos aqui con ustedes” he yelled, cupping his hands around his mouth — we’re here with you. [[gallery-0]] Mr O’Rourke wasn’t the only one. Just a day earlier, Elizabeth Warren also bussed in a group of supporters and peered over the fence. Bill de Blasio made the trip early on Thursday morning, and Bernie Sanders came soon after that. Pete Buttigieg ’s campaign announced he would stop by on Friday. The 30-mile trip underscores the prominence that immigration issues are likely to have in the 2020 race, after nearly two years of Mr Trump's presidency that has made a hallmark out of cracking down on migrants to a degree that puts what many have described as an already hostile immigration system on an escalating nationalist path. Even before the 2016 election, Mr Trump had described Mexicans as rapists and criminals. Since becoming president, that sort of rhetoric has manifested in harsh crackdowns on immigrants already in the US, and on families hoping to enter the country — leading to the detaining of children without their parents in facilities like Homestead. Story continues Joshua Rubin is among those who has been camping out in Homestead on a near-daily basis, and organising to try and ensure the for-profit detention centre that nets some $775 a day per kid is closed down. Mr Rubin told The Independent he thought it was good the presidential candidates were seeing fit to come down and see what was happening. “This place, once people see it, once people actually know what goes on here, they’ll demand that it be shut down,” he said, just after Mr Sanders took a glimpse, and was then turned away by workers as he attempted to gain entry into the camp. In the past 137 days, at least one volunteer has been present outside of the fence each day, volunteers say. And, Mr Rubin said those numbers have increased — though, so has the population inside of the camp. And he says that the situation is dire inside, with workers lacking training and expertise that could at least alleviate some of the strains of running a detainment camp for children in hot southern Florida. “This place, you wouldn’t want to put them in charge of anything. They don’t know what the hell they’re doing. The people who work inside here know it. The kids feel it, they feel the incompetence,” Mr Rubin said. “They feel that there’s no interest in getting them placed, and I think they know, the way we know, that when you’re making $775 a day per kid, there’s no big hurry to get these kids with families.” Officials at the facility did not immediately respond to enquiries. Mariana Martinez, a 23-year-old organiser who lives in Homestead, said that she appreciated the 2020 candidates taking the time to make the trip to see the detention camp, but is concerned that the experience won’t translate into meaningful action if they should become president. “We don’t want them to just use it for their platforms, we need commitments,” Ms Martinez, who met Mr O’Rourke upon his arrival at the centre, said. Mr O’Rourke and others have said they plan on taking action, however. Ms Warren, before her trip, had already released a plan pledging to end funding for private prisons in the United States. Mr O’Rourke and Mr Sanders, during their visits, both pledge to fight against the corporate prisons, and cited organising as a way to bring pressure on lawmakers, and force change regardless of the president. (Getty Images) Mr O’Rourke even said that he thinks the executives making hundreds of thousands of dollars a year should be scrutinised for the detention system that is keeping children from their families. “Absolutely,” Mr O’Rourke said when asked by The Independent if those executives should be held accountable for those roles. “Look, any time you have the suffering of children. Any time you have the deaths of children, and so far we know that seven children over the last year ... there’s got to be accountability, there’s got to be justice, or you will continue with these kinds of practices.” When asked if John Kelly — Mr Trump’s former chief of staff and former US secretary of Homeland Security who left his government job and now works at Calibrun, the company that runs the site in Homestead — should be included in that group, Mr O’Rourke didn’t mince words. “Yes.” |
13-Year-Old Boy Opens Bakery and Gives a Cupcake to the Homeless for Every Treat Sold
Ever since he was little, Michael Platt has loved to bake. The 13-year-old boy, of Bowie, Maryland, has also been passionate about advocacy against childhood hunger and income inequality, according to the Washington Post . Two years ago, he decided to combine his two loves and founded Michaels Desserts , a bakery in which Michael donates a treat to the homeless and hungry for each cake, cookie or cupcake sold. “I always wanted to have a purpose for what I do,” Michael told the Post . “It’s all about helping people — not just having a purpose for yourself, but thinking about, ‘How does this touch other things?’ “ He sells about 75 cupcakes a month, offering four for $15, the Post reported. With that, he makes more than 100 treats to give away and drops them off twice a month at locations including transitional housing, domestic violence shelters and McPherson Square in Washington, D.C. View this post on Instagram “Your business model isn’t sustainable. What can a cupcake do?” My answer to adults who tell me this: In my opinion a cupcake can do a lot! I’ve seen a cupcake inspire smiles, tears, amazement, joy, satisfaction, happiness and other private emotions that I won’t share out of respect for people’s dignity. I’ve passed a cupcake to someone sitting with all their possessions in a shopping cart and had them tell me that this one simple act gave them hope. I’ve left a cupcake beside someone who’s sleeping under blankets on a grate because their friend on the grate next to them said it was ok when I asked. That’s why I give away cupcakes. I’ve been told that my business model isn’t sustainable and that I can’t scale my business while giving away a dessert equal in value, ingredients and labor to the ones I sell. I just look at those people and think about the next cupcake I’m going to give away! #hunger #changetheworld #giveaway #cupcakes #food #foodaccess #foodjustice #foodsecurity #dignity #feedthepeople #cookies #pie #changeagent #bethechange #kidpreneur #dreams #hope #sweettreats #oneforone #1for1 A post shared by Michael Platt (@michaelsdesserts) on Feb 17, 2019 at 8:06am PST Earlier this month, Michael handed out cupcakes in the square and met people from all walks of life. “There was a man sitting in the park. He was wearing, like, a suit and tie,” Michael recalled to WJLA . “We gave him a cupcake and he said that he hadn’t eaten in three days. So we learned that hunger doesn’t really look like anything.” He’s even teamed up with No Kid Hungry , a nonprofit organization working to end child hunger in America, according to the station. Story continues RELATED: Dad and Baby Son Whose ‘Conversation’ Video Went Viral Star in Adorable New Ad for Denny’s “I knew that I wanted to make a business, but I knew I didn’t just want to make money — I also wanted to help people at the same time,” Michael told WJLA. View this post on Instagram You gotta fold the mousse. Don’t stir. Fold. 👔🤣 #bakersgonnabake #mousse #chocolate #boybaker #kidbaker A post shared by Michael Platt (@michaelsdesserts) on Sep 26, 2018 at 7:13pm PDT He bakes out of his family’s home and lends his culinary skills to events like birthdays, anniversaries and weddings, according to the Post . Michael, who is now home-schooled, withdrew from public school after he was diagnosed with epilepsy and began suffering severe seizures in sixth grade, Platt’s mother, Danita Platt, told the Post . “It was a very, very difficult time,” Danita said of the period after Michael was diagnosed. “He had to stop everything he loved: gymnastics, climbing trees, diving. So that’s when he kind of threw himself into baking.” Michael has been able to show his creative side through baking and offers a new “chef’s choice” each month in which he carefully creates a themed cupcake, he told the Post . View this post on Instagram Golden Milk Cupcakes! Each month I’m going to be creating a cupcake based on a Freedom Fighter that I admire. This month I made this cupcake to honor GrandPa Kitchen!! He’s a grandpa in India who cooks huge amounts of food for orphans in his town. He is one of my absolute favorite modern day freedom fighters! @Grandpa_Kitchen Check out my story and my IGTV to learn more. I’ll be at @thespicesuite on the 23rd with these Golden Milk cupcakes. Every cupcake you buy, buys a dessert for someone in need If you’d like to preorder and pick up for the 23rd Golden Milk, Sweet Potato, Mocha Mini Cakes or my surprise Chef’s Choice cupcake please send me a message! #kidbaker #baking #goldenmilk #cupcake #1for1 #feedthepeople #tumeric #boybaker #dessert #cookies #grandpakitchen #hunger #michaelsdesserts #thespicesuite #freedomfighter #bakingadifference #minimalistbaker A post shared by Michael Platt (@michaelsdesserts) on Sep 12, 2018 at 12:28pm PDT He calls these his “freedom fighter cupcakes.” “So I choose a person to base a cupcake off for each month,” Michael said. “And each month I have a flavor that represents them — and I’ll tell their story on my Instagram page.” The special cupcake for June is a banana pudding cupcake made to honor Maya Angelou , according to the publication. He plans to make edible creations in tribute of Harriet Tubman and Nelson Mandela. He’s honored Marin Luther King Jr. with a cupcake full of sweet potato pie filling twice, he said. View comments |
Four All-Weather Stocks for the Next Bear Market
I don’t think we are on the verge of a bear market in stocks. However, there are many warning signs that suggest that an economic downturn and a bear market are on the horizon, notesJim Powell, a growth and income expert,and the editor ofGlobal Changes & Opportunities Report.
Once a bear market begins, prices usually sink rapidly. That’s because fear is a stronger emotion than greed. Fear can turn to panic in an instant whereas greed is usually tempered by caution. Investors who lag behind in a bull market can still make excellent profits. But investors who are caught unawares by a bear market can quickly suffer huge losses.
More from Jim Powell:A New Look for Trailers Parks
The only effective way to deal with a bear market is to prepare for it ahead of time. An important point: when a bear market begins and scared investors race for the exits, it is common for all stocks to drop sharply in value — including the stocks of companies that do well during economic downturns.
Once the initial panic is over, investors will push the prices of the “all-weather” stocks back up. Here are several all-weather stocks to consider.
Dollar General Corp.(DG)
One company that should actually benefit from an economic squeeze is Dollar General. That’s because when leaner times arrive, millions of consumers will move at least one step down the retail ladder from affluent stores to discounters — and from discounters to deep discounters. The company has over 15,000 stores located in the South, Southwest, Midwest, and Eastern US.
As its name suggests, everything in a Dollar General store is bargain-priced. The company emphasizes everyday products that people need during both good times and bad. Household cleaners, bath tissue, paper towels, laundry detergent, trash bags, and dozens of personal care products are always stocked.
In addition, Dollar General stocks a wide range of grocery items that most families use – including breakfast cereals, sugar, flour, canned soups, soft drinks, some frozen foods, condiments, and so on. The list includes several fresh foods including milk, eggs, butter, and bread. Most stores also carry beer, wine, and tobacco products.
On May 30, Dollar General announced excellent first quarter results. Net sales grew 8.3%. Earnings per share grew 9.0%. I think Dollar General will be an excellent stock to own during tough economic times and a bear market.
Zoetis, Inc.(ZTS)
See also:Focus on Safety, Despite New Highs
The animal healthcare industry has also been expanding for several years, and offers considerable promise for investors. In addition, the industry is resistant to economic downturns. Even during the Great Recession, pet expenditures increased while nearly every other sector lost ground. Farm animal healthcare dipped a bit, but remained on a high plateau.
The best way to invest in the fast-growing animal healthcare industry is to buy stock in the companies that make the proprietary products that are in high demand. Zoetis looks especially attractive.
The company markets a full range of diagnostic products, vaccines, medicines, and genetic tests for dogs, cats, horses, pigs, beef cattle, dairy cattle, sheep ducks, chickens, geese, and several species of fish used in aquaculture.
In total the company produces over 300 animal health and nutrition products that it markets worldwide. I think Zoetis has what it takes to resist a bear market.
The Walt Disney Company(DIS)
Walt Disney also has a good track record for performing well during all but the toughest economic conditions. That’s because this entertainment icon offers affordable pleasures that are especially popular when times get tough.
The Walt Disney Company needs little introduction. Its operations include the Disney Channel, the ABC TV Network, Freeform, Disney+ (its new streaming service), and the ESPN media network. The company also operates Disneyland, Walt Disney World, Disney Cruise Line, and various theme parks and entertainment operations.
Disney is also a prominent producer of movies, music, and plays through various in-house operations. Of the group, The Walt Disney Studios, MARVEL STUDIOS, Lucasfilm, and PIXAR Animation are the most prolific. Bambi, Peter Pan, Sleeping Beauty, and Alice in Wonderland are among the best known titles – and are still ringing Disney’s cash register.
PPL Corporation(PPL)
Some all-weather stocks pay particularly attractive dividends that can be most welcome during recessions and bear markets when income can be hard to find.
One income producer that looks very good is PPL Corporation — an electric utility holding company with operations in the Northeastern US and the UK. Although utility incomes can decline during weak economic times, they rarely drop very much.
PPL should be a good bear market choice for investors who put reliable income above long-term capital growth. Currently the company pays an attractive 5.25% dividend – which is over twice what Uncle Sam pays on his 10-Year bonds. That’s a lot to like.
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Pet Food Can't -- and Won't -- Be the Lone Hero for General Mills Anymore
If you are looking for investing excitement, you generally don't turn to the prepackaged-food business. Yet industry stapleGeneral Mills(NYSE: GIS)is up a surprising 32% so far in 2019, even after the stock took a step back on Wednesday whenfiscal 2019 fourth-quarterresults underwhelmed shareholders.
Granted, the big run-up this year comes after a dismal performance in 2018, and General Mills is now past the first anniversary of itsBlue Buffalo Pet Products acquisition. That means the new high-growth segment will no longer bail out results, putting the onus back on the company's core brands to provide growth. Management is optimistic that will happen, but either way, this stock looks like a solid pick for investors seeking income.
Image source: Getty images
On the surface, General Mills appeared to have a pretty good year -- especially for a massive global food conglomerate that encompasses everything from cereals to snacks to baking goods. However, all of that growth came from the Blue Buffalo acquisition. Excluding the pet food segment, net sales were down nearly across the board.
Granted, a great deal of those declines were due to a strong U.S. dollar, which reduces revenue when the company converts foreign income back into greenbacks. Nevertheless, organic growth (which negates acquisitions and currency exchange rates) was down in General Mills' largest areas of business.
[{"Segment": "North America retail", "2019 Net Sales": "$9.92 billion", "Organic Sales Increase (Decrease), YOY": "(1%)"}, {"Segment": "Convenience stores and food service", "2019 Net Sales": "$1.97 billion", "Organic Sales Increase (Decrease), YOY": "2%"}, {"Segment": "Europe and Australia", "2019 Net Sales": "$1.89 billion", "Organic Sales Increase (Decrease), YOY": "(1%)"}, {"Segment": "Asia and Latin America", "2019 Net Sales": "$1.65 billion", "Organic Sales Increase (Decrease), YOY": "6%"}, {"Segment": "Pet food", "2019 Net Sales": "$1.43 billion", "Organic Sales Increase (Decrease), YOY": "N/A"}]
Data source: General Mills. YOY = year over year.
The result was a human-food business under duress, with pet food coming to the rescue. Because of the lower sales -- especially in North America, where snack foods were a drag -- profits increased less than the top line did. Adjusted earnings (backing out one-time tax benefits realized after U.S. corporate tax reform in late 2017) increased a mere 3.5% in fiscal 2019.
[{"Metric": "Revenue", "12 Months Ended May 26, 2019": "$16.87 billion", "12 Months Ended May 27, 2018": "$15.74 billion", "Change": "7%"}, {"Metric": "Gross profit margin", "12 Months Ended May 26, 2019": "34.1%", "12 Months Ended May 27, 2018": "34.5%", "Change": "(0.4 pp)"}, {"Metric": "Operating income", "12 Months Ended May 26, 2019": "$2.52 billion", "12 Months Ended May 27, 2018": "$2.42 billion", "Change": "4%"}, {"Metric": "Adjusted earnings per share", "12 Months Ended May 26, 2019": "$3.22", "12 Months Ended May 27, 2018": "$3.11", "Change": "4%"}]
Data source: General Mills. pp = percentage point.
With General Mills now lapping its first year with Blue Buffalo in the fold, the rest of the business will need to step up its game if top-line growth is going to continue. Blue Buffalo grew sales an impressive 11% during its first year as part of the family, but it only made up about 8.5% of the revenue total in the last year. Even if double-digit growth resumes in the new 2020 fiscal year, it's not going to go very far in offsetting organic sales declines elsewhere.
Here's the bad news: Management thinks Blue Buffalo net sales will grow by 8% to 10% in 2020, so double-digit sales growth maynotbe in the cards.
However, the company is pleased with its momentum in global cereal sales, specifically calling out Lucky Charms and new Cheerios flavors like blueberry. Yoplait yogurt sales in the U.S. are expected to improve, and fruit snacks have also been a high point for the company. All told, General Mills' top team thinks organic growth of 1% to 2% is in the cards in fiscal 2020; that bodes well for the bottom line.
The stock currently pays a dividend yielding 3.8%, and shares trade for only 13.9 times trailing-12-month free cash flow (money left over after funding basic operations and capital expenditures). This certainly isn't a very exciting business, but General Mills looks like a solid pick for those seeking income, or a core portfolio stabilizer during volatile times.
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Banks announce billions in share buybacks after Fed approval
NEW YORK (AP) — The nation's largest banks are rewarding shareholders by spending tens of billions raising their dividends and buying back stock after getting the green light from the Federal Reserve.
The Fed on Thursday said it had approved the capital plans the nation's 18 largest banks submitted as part of this year's stress tests. That means it determined the banks could raise their dividends and buy back more shares this year and still have enough capital to survive a hypothetical deep recession in the next year.
Immediately after the Fed's announcement, the major banks started unveiling their plans.
JPMorgan, the nation's largest bank by assets, said it plans to buy back $29.4 billion in shares this cycle. It would also increase its dividend 12.5% to 90 cents a share. In total, JPMorgan would return roughly $40 billion to shareholders through dividends and stock repurchases over the next year.
Wells Fargo announced plans to buy back $23.1 billion in stock the next year and increase its dividend 13.3% to 51 cents a share. The bank remains under investigation by state and federal authorities for abusive banking practices.
Citigroup said it would buy back $17.1 billion in stock next year and also plans to increase its dividend to 13.3% to 51 cents a share.
In total, the Fed expects the nation's 18 biggest banks to return more than 100% of their expected earnings to shareholders this annual cycle. In another way of putting it, these banks collectively are expected to spend more in dividends and stock repurchases than they expect to make in profit this year.
The central bank's stress tests were mandated after the Great Recession under the Dodd Frank Act. They are designed to test whether a large bank could survive a sudden economic downturn without imploding, as was the case a decade ago.
JPMorgan and Capital One were given approvals on their capital plans only after both pared back their plans. The original drafts of JPMorgan and Capital One's plans exposed them to being too undercapitalized in a worse-case scenario. The Fed also asked one European bank, Credit Suisse, to fix a few issues in its capital plan and will revisit the bank's plan in four months.
Deutsche Bank, which last year did not pass the Fed's muster, was able to pass with no issues this year.
The Fed adjusts its stress tests each year, depending on the economic climate. In this year's most dire scenario, known as the severely adverse scenario, the Federal Reserve tested for a hypothetical deep global recession, with the U.S. unemployment rate jumping to 10% from its current level of 4% and the stock market falling 50% from its peak.
The Fed also tested how well the nation's largest banks would handle a sharp drop in commercial real estate prices, as well as heightened stress in the corporate debt markets. Several economists and bank executives have cited the substantial increase in loans made to distressed companies, known as leveraged lending, as an area of concern for the financial system.
All 18 banks passed the first part of the Fed's tests last week. This week's tests are considered harder and more important because they include the banks' plans to give back capital to shareholders while still maintaining adequate levels to survive an economic catastrophe. |
Inflation Bond ETFs Gain Momentum on Rate Cut Bets
This article was originally published onETFTrends.com.
Treasury inflation-protected securities and related ETFs have seen increased interest as the Federal Reserves hints at looser monetary policies ahead.
So far this month, theiShares TIPS Bond ETF (TIP) attracted $391 million in net inflows and theVanguard Short-Term Inflation-Protected Securities ETF (VTIP) saw $88 million in inflows, according to ETFdb data.
Meanwhile, yield on TIPS, which exhibit an inverse relationship to bond prices, have declined along with the fixed-rate U.S. government debt to near their lowest level in almost two years, theWall Street Journalreports. The yield on 10-year TIPS dipped to a recent 0.35% Thursday from about 1.20% in November, when the 10-year yield broke to multi-year highs above 3%.
Investors previously expected the Fed to hike rates in 2019, but now, the markets are anticipating multiple rate cuts ahead to counteract the damaging effects of a prolonged trade war between the U.S. and China.
Consequently, TIPS are gaining momentum in anticipation of the looser monetary policy ahead since rate cuts tend to fuel growth and inflation.
“The market is saying the Fed has less control over inflation than general economic activity does,” Tom Graff, a bond manager at Brown Advisory, told the WSJ. The decline in TIPS yields is part of a broad set of signals that “point to the fragility of growth.”
TIPS are a type of Treasury security that is indexed to inflation as a way to shield investors from the negative effects of inflation. The securities’ par value rises with inflation as measured by the Consumer Price Index while interest rate remains fixed. TIPS also offer investors another layer of diversification as many aggregate bond funds exclude TIPS from their holdings.
The strength in the TIPS market also comes despite weak inflation data. Fed officials recently lowered their inflation outlook for June, and many now predict the price index for personal-consumption expenditures will rise 1.5% this year, or below the central banks 2% target until 2021.
For more information on Treasury inflation protected securities, visit ourTIPS category.
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Why a real estate investor says 'the housing market is done in America'
A mixed bag of data has raised questions about how resilient the U.S. housing sector can continue to be in the face of a widespread economic slowdown.
However, one bearish investor has rendered a harsh verdict relatively early.
“The housing market is done in America,” real estate investor Grant Cardone told Yahoo Finance on Thursday. “It will never come back.”
Cardone’s grim assessment came as sales of new homesplummeted by 7.8% last Month, hitting a 5-month low, even as pending home sales notched a 1.1% gain. The investor attributed the state of the market to “a loss of mobility” among potential buyers.
“Mobility is the most valuable, single ingredient of an entrepreneur - the ability to move to where money goes,” Cardone told YFi PM.
Saying that the nature of the economy was changing, he insisted that “people have more money invested in their home than in their self-improvement” — something that was likely to shift in the future, he added.
Housing data has been decidedly mixed, but at least in part supported by low interest rates that aren’t rising anytime soon.
Still, Cardone insisted to Yahoo Finance that “real estate is the only place” he’d invest money in right now.
“I buy real estate that produces income. I rent where I live and I own property that pays me money. I will only buy a piece of real estate if it produces cash flow for me,” the investor added.
A market that’s still considered by some to be overpriced is behind an uptick in renting, which isnear a 50-year high, with 36.6 percent of Americans doing it, according to the Pew Research Center.
Cardone has seen that rise first hand, and said the baby boomer generation could be the cause.
“We’re going to rent to 80 million baby boomers in this country. Baby boomers are going to become the biggest renters in the country and millennials will follow,” Cardone said.
Sarah Smith is a Segment Producer/Booker at Yahoo Finance. Follow her on Twitter:@sarahasmith
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Nike earnings: US-China trade conflict hasn't hurt business, company says
Nikenoted strong sales growth in China in its fourth-quarter earnings report on Thursday as executives downplayed on impact of the ongoing U.S.-China trade dispute on the company's business.
The remarks came shortly after Nike disclosed a rare profit miss. The sports apparel giant reported adjusted earnings per share of 62 cents, falling short of the 66 cents expected on Wall Street, according to Refinitiv data. Fourth-quarter revenue was $10.2 billion, slightly outpacing projections.
Wall Street has been watching for the potential impact to Nike's business as the Trump administration considers further 25 percent tariffs on $300 billion in goods made in China. While Nike manufactures about 25 percent of its products in China, company executives said the brand is well positioned to withstand lingering international trade tensions.
“We have not seen any impact on our business to date," Nike CFO Andy Campion said during an earnings call.
Nike generated sales of $4.2 billion in North America, up 8 percent excluding currency changes. Sales in China grew 22 percent to $1.7 billion.
Nike shares seesawed in after-hours trading.
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TheOregon-based companywas one of dozens of brands that asked the Trump administration to reconsider further tariffs on goods made in China.
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Mexican president says Pemex secures $8 billion multi-bank loan
MEXICO CITY, June 27 (Reuters) - Mexican state oil company Pemex signed an $8 billion syndicated loan with more than 20 banks to renew credit lines and refinance liabilities, President Andres Manuel Lopez Obrador said on Thursday.
Pemex, saddled with about $106 billion in debt and facing the prospect of a costly credit rating downgrade, announced in February the financial operation, which is aimed at reducing liabilities and providing funds for investment.
Lopez Obrador said 23 banks participated, both in Mexico and abroad.
"It's the most important operation of its kind in Mexico," he wrote on Twitter, adding that it would strengthen Pemex during his six-year term that began last December.
Pemex has said that its net debt will not increase between 2019 and 2022, and that crude production will increase beginning this year, primarily through the development of 20 recently discovered fields. (Reporting by Ana Isabel Martinez, Daina Beth Solomon and Diego Ore; Editing by Sandra Maler) |
Amazon Counter Turns Rivals' Storefronts—Starting With Rite-Aid—Into Package Pickup Centers
It’s often called the “Amazon effect,” the e-commerce giant’s tendency to send stock prices of traditional retailers reeling once it moves into their market. Drug-store chains, for example, saw theirstocks tumblewhenAmazonbought an online pharmacy last year. Now one drug chain, Rite-Aid, has chosen to partner with the Amazon juggernaut.
Rite-Aid’s stock surged as high as 34% Thursday following Amazon’sannouncementof in-store pickup of Amazon orders in 100 U.S. Rite-Aid stores. The move is part of Amazon’s Counter service, which aims to expand the number of stores offering Amazon pickups to 1,500 by the end of this year. Rite-Aid’s stock closed Thursday at $8.57 a share, up 21% on the day.
Amazon is exploring new ways to deliver packages to customers, fromspecialized dronesto anin-house courier servicethat could take on its longtime partners, Fedex andUPS. Amazon also has2,800 lockersin more than 70 U.S. cities, including those in Amazon-owned Whole Foods stores, retail chains like Safeway and 7-Eleven, and small businesses.
Unlike Amazon’s lockers, Counter will provide pickup points staffed by retail workers. That may help it expand into brick-and-mortar locations that don’t have room for Amazon lockers, but can still help deliver Amazon packages over retail-store counters.
“Amazon is always looking for innovative and convenient ways for customers to ship and receive their orders,” Patrick Supanc, worldwide director of Amazon Hub, said in a release. “With Counter, we’ve leveraged our growing logistics network and invested in new, easy to use technology to give customers yet another delivery option.”
As the first retailer to partner with Counter, Rite-Aid won support from investors. The Amazon announcement overshadowed a lackluster earnings report from Rite-Aid late Tuesday, which showed revenue remaining flat at $5.4 billion in the most recent quarter, while the drug chain’s net lossmore than doubledto $1.88 a share. That earnings report sent Rite-Aiddown 11%in after-hours trading Tuesday.
Despite the Wednesday rally in Rite-Aid shares, a partnership with Amazon isn’t a sure ticket to success. Department storeKohl’spartnered with Amazonin September 2017 to process returns of Amazon orders. Since then, Kohl’s shares have lost 39% of their value.
Nonetheless, Rite-Aid investors appear hungry for some positive news. The company’s stock has been stuck in a slump that has seen its shares decline by 78% in the past year, during which the S&P 500 Index has advanced 8%.
Amazon was largely unchanged Wednesday, closing down 0.3% at $1,904.28 a share.
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Conservative U.S. Justice Gorsuch again sides with liberals in criminal case
By Lawrence Hurley WASHINGTON (Reuters) - For the second time in three days, conservative U.S. Supreme Court Justice Neil Gorsuch on Wednesday sided with his four liberal colleagues in a 5-4 ruling in favor of a criminal defendant, on this occasion an Oklahoma man convicted of possessing child pornography. The court ruled that the right of Andre Haymond to face a jury trial under the U.S. Constitution's Sixth Amendment was violated when a judge unilaterally imposed an additional prison sentence after Haymond violated the terms of his supervised release. Haymond originally was sentenced to just over three years in prison and 10 years of supervised release after being convicted by a jury in 2010 of possessing pornographic images involving children. He was arrested in 2007 after an undercover agent caught him sharing images online. After completing his sentence, Haymond was found in 2015 in possession of 59 additional images. A judge then imposed a new five-year sentence without a jury's participation. Gorsuch, appointed to the court by President Donald Trump in 2017, found that the federal sentencing law under which the judge acted - which required the judge to send Haymond to prison without a jury's involvement or the requirement that the government prove his guilt - ran afoul of the Constitution as applied in Haymond's case. "Only a jury, acting on proof beyond reasonable doubt, may take a person's liberty. That promise stands as one of the Constitution's most vital protections against arbitrary government," Gorsuch wrote. Justice Stephen Breyer, one of the liberal justices, did not join Gorsuch's opinion, but agreed with the outcome. In dissent, conservative Justice Samuel Alito appeared alarmed that the court might in a future case endanger the entire concept of supervised release. Federal judges in 2018 handled almost 17,000 cases involving revocation of supervised release, Alito said, citing court statistics. If Gorsuch's opinion were to be applied more broadly in the future, "the whole system of supervised release would be like a 40-ton truck speeding down a steep mountain road with no brakes," Alito wrote. Story continues Gorsuch joined the four liberal justices on Monday in a 5-4 ruling striking down as unconstitutionally vague a law imposing stiff criminal sentences for people convicted of certain crimes involving firearms. [nL2N23V0N5] In both cases, the court's four other conservative justices were in dissent including Trump's other appointee, Brett Kavanaugh. Gorsuch and the liberal justices have been in the majority on four occasions in 5-4 rulings in the current Supreme Court term, which began in October and ends on Thursday. For a graphic on major U.S. Supreme Court rulings, see: https://tmsnrt.rs/2V2T0Uf (Reporting by Lawrence Hurley; Editing by Will Dunham) |
Pregnant Ala. Woman Was Shot During Fight and Lost Baby — Now She's Charged With Manslaughter
Marshae Jones was 5-months-pregnant last December when she got into a fight with a woman outside the Dollar General in Pleasant Grove, Alabama. The fight escalated, and 27-year-old Jones was shot in the stomach. She survived the shooting but lost her baby. Yesterday, an Alabama Grand Jury indicted Jones on the charge of manslaughter, The Washington Post reports . She didn’t fire the gun, but according to law enforcement, she started the fight and was therefore responsible. “It was the mother of the child who initiated and continued the fight,” Pleasant Grove police Lt. Danny Reid, told AL.com at the time of the shooting. The Washington Post reports that police said the shooter, 23-year-old Ebony Jemison, acted in self-defense. PEOPLE’s calls to Reid were not answered, and calls to the police station were referred to the D.A.’s office. The D.A.’s office told PEOPLE they had not released a statement yet. Originally, Jemison was charged with manslaughter — but the grand jury didn’t indict her, and the charge was dismissed, the AP reported . The two women, Reid told reporters, were fighting over the unborn baby’s father. • Want to keep up with the latest crime coverage? Click here to get breaking crime news, ongoing trial coverage and details of intriguing unsolved cases in the True Crime Newsletter. “The investigation showed that the only true victim in this was the unborn baby,’’ Reid told reporters. “She was relying on her mother for protection.” The charges against Jones come weeks after a law was signed by Alabama governor Kay Ivey banning nearly all abortions , including those for victims of rape or incest. The New York Times reports Alabama is one of 38 states that have fetal homicide laws recognizing the fetus as a victim when there is violence against a pregnant woman. In a statement posted to Twitter reacting to Jones’ arrest, the National Abortion Foundation, a professional association of abortion providers, said, “This is how people — especially women of color — are already being punished & having their pregnancies criminalized.” Jones will be held on $50,000 bond at the Jefferson County Jail, AL.com reports . |
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