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NEWS_200 | Shares of Mid-America Apartment Communities Inc. MAA, +1.13% rallied 1.13% to $157.22 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Mid-America Apartment Communities Inc. closed $60.42 short of its 52-week high ($217.64), which the company achieved on April 6th.
The stock outperformed some of its competitors Monday, as Avalonbay Communities Inc. AVB, +0.01% rose 0.01% to $170.36, Equity Residential EQR, +0.44% rose 0.44% to $61.60, and UDR Inc. UDR, -0.13% fell 0.13% to $39.93. Trading volume (854,667) eclipsed its 50-day average volume of 602,490.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_201 | Despite intense pressure from investors and consumers for companies to divest from Russia, only a fraction have done so, a new study finds. The slow pace of exits raises doubts over how serious some firms are about leaving.
Following Russia’s invasion of Ukraine in February last year, many multinationals were forced to rethink their ties to Moscow. Nine months later, only 8.5% of companies with headquarters in the European Union or G-7—whose members are Canada, France, Germany, Italy, Japan, the U.K., and the U.S.—had divested at least one of their Russian subsidiaries, according to co-authors Simon Evenett, a professor at University of St. Gallen, and Niccolò Pisani, a professor at IMD Business School.
For their research, Evenett and Pisani checked all Russian subsidiaries of G-7 and EU-headquartered firms listed in the Orbis database, which is produced by Bureau van Dijk and contains detailed information on more than 400 million global companies. They confined their analysis to equity stakes as non-equity stakes—such as licensing and franchising—typically involve smaller investments. At the same time, it is more costly for companies to abandon an equity stake as it involves relationships with distributors, employees, and suppliers.
The authors note that their headline finding of 8.5% of companies having divested “almost certainly overstates” the degree of completed divestment because they counted a foreign company as completely exiting if one or more—but not necessarily all—of its subsidiaries had been divested and treated partial divestments as full divestments.
The authors acknowledge that exits are complex and time-consuming and that the percentage is likely to rise as companies that have announced their intention to leave follow through.
But they caution that should the share of exiting Western firms not rise significantly in the coming year or two, “it would call into question the willingness or the ability of many Western firms to decouple from jurisdictions their governments have deemed geopolitical rivals.”
As for the low level of divestment, the authors say that “perhaps countervailing pressure and obstacles erected by the Russian government have limited divestment—a factor that may have been underestimated in Western activists, commentators, and officials—or anyway delayed exit.”
Evenett and Pisani note that while, in principle, the 8.5% of exiting firms “could constitute the lion’s share” of Western investment in Russia, “this isn’t the case.”
Instead, confirmed exits by EU and G-7 firms that had equity stakes in Russia account for 6.5% of total profit before tax of all the EU and G-7 firms with active commercial operations in Russia for which information is available in the Orbis database. They also account for 8.6% of tangible fixed assets, 8.6% of total assets, 10.4% of operating revenue, and 15.3% of total employees, the authors say.
“These findings imply that, on average, the exiting Western firms tended to underperform in terms of profitability and had larger workforces, which in turn may have contributed to their higher public profile,” they say.
This study isn’t the first to track how companies have responded to the war in Ukraine: Yale School of Management’s Chief Executive Leadership Institute publicly ranks companies by the amount of progress they have made in cutting ties with Russia. A group of researchers at the Kyiv School of Economics (KSE) also has compiled its own list based on a number of sources, including the work done by Yale. What is different about Evenett and Pisani’s paper is that the research focused only on equity investments made by EU and G-7 firms and exits completed by the end of November 2022.
Last year, dozens of companies announced plans to withdraw from Russia, including Marriott International (ticker: MAR), which in June said U.S., U.K., and EU restrictions “make it impossible for Marriott to continue to operate or franchise hotels in the Russian market.”
Write to Lauren Foster at [email protected] |
NEWS_202 | Shares of Marriott International Inc. MAR, +1.26% rose 1.26% to $169.02 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's third consecutive day of gains. Marriott International Inc. closed $26.88 below its 52-week high ($195.90), which the company achieved on April 21st.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Airbnb Inc. Cl A ABNB, +3.89% rose 3.89% to $105.22 and Hilton Worldwide Holdings Inc. HLT, +0.92% rose 0.92% to $140.00. Trading volume (2.6 M) eclipsed its 50-day average volume of 1.9 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_203 | Shares of Masco Corp. MAS, +1.97% advanced 1.97% to $51.13 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Masco Corp. closed $13.98 short of its 52-week high ($65.11), which the company achieved on January 24th.
The stock outperformed some of its competitors Monday, as PPG Industries Inc. PPG, -0.53% fell 0.53% to $130.30. Trading volume (1.6 M) remained 78,647 below its 50-day average volume of 1.7 M. |
NEWS_204 | In the latest trading session, McDonald's (MCD) closed at $269.29, marking a +0.26% move from the previous day. This change lagged the S&P 500's 1.19% gain on the day. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Prior to today's trading, shares of the world's biggest hamburger chain had gained 0.38% over the past month. This has lagged the Retail-Wholesale sector's gain of 8.04% and the S&P 500's gain of 4.06% in that time.
McDonald's will be looking to display strength as it nears its next earnings release, which is expected to be January 31, 2023. The company is expected to report EPS of $2.45, up 9.87% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.71 billion, down 4.96% from the year-ago period.
Investors should also note any recent changes to analyst estimates for McDonald's. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. McDonald's is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, McDonald's currently has a Forward P/E ratio of 25.55. For comparison, its industry has an average Forward P/E of 22.01, which means McDonald's is trading at a premium to the group.
Also, we should mention that MCD has a PEG ratio of 3.13. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Retail - Restaurants stocks are, on average, holding a PEG ratio of 2.09 based on yesterday's closing prices.
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The Retail - Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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McDonald's Corporation (MCD) : Free Stock Analysis Report
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NEWS_205 | Shares of McDonald's Corp. MCD, +0.26% inched 0.26% higher to $269.29 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. McDonald's Corp. closed $12.38 below its 52-week high ($281.67), which the company reached on November 10th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Starbucks Corp. SBUX, +1.11% rose 1.11% to $106.21, Chipotle Mexican Grill Inc. CMG, +2.71% rose 2.71% to $1,597.35, and Yum! Brands Inc. YUM, +0.03% rose 0.03% to $126.67. Trading volume (2.4 M) remained 369,493 below its 50-day average volume of 2.8 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_206 | ALMATY, Jan 23 (Reuters) - Several restaurants which used to operate under the McDonald's brand in Kazakhstan reopened on Monday with no branding to serve fast food under generic names such as "Cheeseburger", weeks after the U.S. company left the local market.
Former licensee Food Solutions KZ said in a statement it would maintain "the high quality and service standards adopted earlier" and would soon present its new brand name.
McDonald's and Food Solutions KZ terminated their licence agreement this month, citing supply issues. Sources earlier told Reuters that McDonald's Kazakhstan had stopped buying supplies from Russia and had trouble replacing them.
Food Solutions KZ did not say on Monday whether it has replaced any components such as beef patties with Kazakh produce, and declined to comment on any questions not addressed in its statement.
Its new menu included items such as beef, chicken and fish burgers as well as chicken nuggets, fries and ice cream.
McDonald's closed its Russian restaurants soon after Moscow sent tens of thousands of troops into Ukraine last February, eventually selling to a local licensee, Alexander Govor, who in June unveiled the Vkusno & tochka brand, which means "Tasty & that's it". (Reporting by Pavel Mikheyev and Mariya Gordeyeva Writing by Olzhas Auyezov; Editing by Kirsten Donovan) |
NEWS_207 | Shares of Microchip Technology Inc. MCHP, +3.68% advanced 3.68% to $76.31 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Microchip Technology Inc. closed $4.19 below its 52-week high ($80.50), which the company reached on December 13th.
Trading volume (4.6 M) eclipsed its 50-day average volume of 4.4 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_208 | Shares of McKesson Corp. MCK, -0.80% slipped 0.80% to $375.03 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of losses. McKesson Corp. closed $26.75 below its 52-week high ($401.78), which the company achieved on November 4th.
The stock underperformed when compared to some of its competitors Monday, as Amazon.com Inc. AMZN, +0.28% rose 0.28% to $97.52, UnitedHealth Group Inc. UNH, -0.19% fell 0.19% to $485.81, and CVS Health Corp. CVS, +0.23% rose 0.23% to $87.20. Trading volume (1.1 M) eclipsed its 50-day average volume of 1.1 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_209 | IDEXX Laboratories, Inc. IDXX is expected to report fourth-quarter 2022 results on Feb 1, before market open.
In the last reported quarter, the company’s earnings per share of $2.15 surpassed the Zacks Consensus Estimate by 5.4%. Moreover, earnings outpaced the consensus estimate in the trailing four quarters, the average beat being 5.19%.
Let’s take a look at how things have shaped up prior to this announcement.
Factors at Play
The Companion Animal Group (CAG) business is expected to have gained from consistently strong organic CAG Diagnostics recurring revenues backed by an increasing number of pet patients. Supported by solid global demand for veterinary services, building on a significant step-up in pet ownership and patient visits will lead to substantial CAG Diagnostic recurring revenue gains in Q4.
Sales contributions from veterinary software and diagnostic imaging, including the benefits from the ezyVet acquisition, are likely to have been advantageous for the business in the to-be-reported quarter. The company’s veterinary software is also expected to report strong growth for the fourth quarter supported by gains in recurring software and digital imaging revenues and continued strong momentum in cloud-based software placements.
IDEXX Laboratories, Inc. Price and EPS Surprise
IDEXX Laboratories, Inc. Price and EPS Surprise
IDEXX Laboratories, Inc. price-eps-surprise | IDEXX Laboratories, Inc. Quote
IDEXX’s CAG premium instrument placements are expected to have recorded strong growth in Q4 on the continued rise in Catalyst and premium hematology placements. In the prior quarter, consumable gains were supported by 14% year-on-year growth in the global premium instrument installed base, reflecting double-digit increases across catalyst premium hematology and a set of new platforms. The company placed 4,737 CAG premium instrument placements in the third quarter. Strong customer retention backed by ProCyte One momentum and global expansion efforts in premium hematology placements is likely to have benefited the company’s CAG arm in Q4.
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The Zacks Consensus Estimate for CAG revenues is pegged at $736 million, suggesting an improvement of 2.4% from the year-ago quarter’s reported figure.
IDEXX’s Water business is likely to have delivered impressive revenue performance on solid volume gains and strong price gains. The business is expected to have benefited from a continued increase in water testing demand across the world as the effects of the pandemic abate and economies gradually recover from the pandemic.
During the third quarter, IDEXX completed the acquisition of Tecta-PDS — an automated microbiology testing platform that complements our existing water offering and expands our capabilities in this highly-attractive business segment. We expect this buyout to have contributed to IDEXX’s revenues in the to-be-reported quarter.
The Zacks Consensus Estimate for Water revenues is pegged at $38.1 million, suggesting a rise of 2.6% from the year-ago quarter’s reported figure.
Within the Livestock, Poultry and Dairy (LPD) arm, we expect revenue growth in Q4 to have been impacted by lower pork prices and changes in government requirements related to livestock infectious disease testing programs.
The Zacks Consensus Estimate for LPD revenues is pegged at $30.4 million, suggesting a fall of 28.5% from the year-ago quarter’s reported figure.
Q4 Estimates
The Zacks Consensus Estimate for the company’s fourth-quarter 2022 revenues is pegged at $815.7 million, suggesting a rise of 1.8% from the year-ago reported figure.
The Zacks Consensus Estimate for fourth-quarter 2022 net earnings of $1.92 per share indicates a 1.6% improvement from the year-ago reported figure.
What Our Model Suggests
Our proven model predicts an earnings beat for IDEXX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The company has an Earnings ESP of 0.39%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Cardinal Health CAH has an Earnings ESP of +5.75% and a Zacks Rank of #2. The company will release fourth-quarter 2022 results on Feb 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cardinal Health has a long-term expected earnings growth rate of 11.7%. Cardinal Health’s earnings yield of 6.87% compares favorably with the industry’s 4.34%.
McKesson Corporation MCK has an Earnings ESP of +0.84% and a Zacks Rank of #2. McKesson is scheduled to release third-quarter fiscal 2023 results on Feb 1.
MCK’s long-term historical earnings growth rate is estimated at 10.1%. MCK’s earnings yield of 6.49% compares favorably with the industry’s 4.34%.
Laboratory Corporation of America Holdings or LabCorp LH currently has an Earnings ESP of +2.67% and a Zacks Rank of #2. LabCorp is expected to release fourth-quarter 2022 results on Feb 9.
LabCorp’s long-term historical earnings growth rate is estimated at 26.1%. LabCorp’s earnings yield of 7.02% compares favorably with the industry’s 4.34%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Laboratory Corporation of America Holdings (LH) : Free Stock Analysis Report
Cardinal Health, Inc. (CAH) : Free Stock Analysis Report
McKesson Corporation (MCK) : Free Stock Analysis Report
IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_210 | Shares of Moody's Corp. MCO, -0.09% dropped 0.09% to $320.19 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. Moody's Corp. closed $34.62 short of its 52-week high ($354.81), which the company achieved on February 10th.
The stock underperformed when compared to some of its competitors Monday, as S&P Global Inc. SPGI, +0.74% rose 0.74% to $370.76 and MSCI Inc. MSCI, +0.63% rose 0.63% to $514.98. Trading volume (917,375) eclipsed its 50-day average volume of 793,686. |
NEWS_211 | Shares of Mondelez International Inc. Cl A MDLZ, +0.50% inched 0.50% higher to $64.36 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Mondelez International Inc. Cl A closed $4.55 short of its 52-week high ($68.91), which the company achieved on January 24th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Coca-Cola Co. KO, +0.25% rose 0.25% to $60.23, PepsiCo Inc. PEP, -0.45% fell 0.45% to $169.12, and Kraft Heinz Co. KHC, +0.95% rose 0.95% to $40.26. Trading volume (6.1 M) eclipsed its 50-day average volume of 5.6 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_212 | Enthusiast Gaming Inc.
SOUR PATCH KIDS to sponsor tournament offering gamers a chance to play with NFL players and win a gaming prize pack
LOS ANGELES, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming”) (NASDAQ:EGLX; TSX:EGLX), today announced a partnership with Mondelēz International's SOUR PATCH KIDS® (NASDAQ: MDLZ) to launch the SOUR PATCH KIDS Fruit Fight Tournament, which will be hosted on NFL Tuesday Night Gaming’s channels beginning in February 2023. The tournament is a collaboration among Enthusiast Gaming, SOUR PATCH KIDS, and media agency Spark Foundry to amplify the SOUR PATCH KIDS Fruit Fight campaign among the gaming community.
The SOUR PATCH KIDS Fruit Fight tournament invites eligible adult gamers to enter for a chance to be selected to compete against each other in fruit-themed teams, inspired by SOUR PATCH KIDS fruit flavors: grape, peach, watermelon, and strawberry, to see which fruit flavor comes out on top. Selected contestants will have the chance to win a prize pack that includes a new gaming setup, SOUR PATCH KIDS candy, and tickets to a 2023-2024 NFL game.
"Enthusiast Gaming continues to be the partner of choice for brands looking connect with younger audiences and we are excited to partner with SOUR PATCH KIDS to extend NFL Tuesday Night Gaming programming in 2023", commented Bill Karamouzis, President of Enthusiast Gaming. "This partnership is another example of how Enthusiast Gaming is helping brands find innovative ways to reach Gen Z gaming audiences through bespoke content experiences."
“The SOUR PATCH KIDS Fruit Fight tournament is an exciting opportunity for our fans to win a chance to play alongside their favorite gamers and NFL stars as they fight for their favorite fruit flavor”, said SOUR PATCH KIDS brand executive Lauryn McDonough; Sr. Director – U.S. Candy, Seasonals & Chocolate. “With gaming providing both a competitive and entertainment outlet, this tournament offers an immersive and engaging way to bring the SOUR PATCH KIDS Fruit Fight campaign to life.”
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“We’ve seen continued brand love and excitement among Gen Z gamers, and knowing this audience’s desire to create and personalize content for themselves, it was a natural fit to give them the opportunity to declare their allegiance and compete for their favorite SOUR PATCH KIDS fruit flavor”, said Allison Zilbershatz, Vice President, Content at Spark Foundry. “Adding well-known NFL and gaming talent only sweetened the deal for this not-so-sour Fruits candy platform.”
Gaming and NFL talent expected to participate include:
Gaming Creators:
Maria “Chica” Lopez
Nick “NickEh30” Amyoony
Jerome “JeromeASF” Aceti
Andre “Typical Gamer” Rebelo
NFL Players:
Trevon Diggs, Cornerback, Dallas Cowboys
Austin Ekeler, Running Back, Los Angeles Chargers
Leonard Fournette, Running Back, Tampa Bay Buccaneers
Isaac Rochell, Defensive End, Las Vegas Raiders
The contest is open to legal residents of the fifty (50) United States and the District of Columbia (“D.C.”) who are at least the age of majority in the jurisdiction in which they reside. To enter for a chance to participate in the tournament, gamers can visit the SOUR PATCH KIDS Fruit Fight site at sourpatchkids.gg/fruitfight and submit a video that showcases up to 60 seconds of their best gameplay, along with a 30-second personal introduction. Submissions opened earlier this month and will be accepted through January 24, 2023. A team of judges will select 72 Battle Royale fanatics who will be coached by top-tier gaming creators and NFL players as they battle it out in team and individual competitions to be crowned champion.
The four-week tournament begins on February 3, 2023, and will be live-streamed on the NFL Tuesday Night Gaming YouTube channel at www.youtube.com/nfltng and Twitter at www.twitter.com/nfltng. In the first round of tournament play, the 72 selected contestants will compete in teams of three on February 3 and individually on February 10. The top 24 contestants will advance to Round 2 on February 21, where coaches will draft eight teams of three. The top four teams from Round 2 will be flown to Los Angeles to compete in the finals on February 28. The top two teams in Round 3 will advance to the final Championship round. Round 3 and the Championship Round will be played live, in person at the NFL Tuesday Night Gaming set.
No purchase is required to enter for a chance to be selected for tournament play. For more information and Official Rules, visit the SOUR PATCH KIDS Fruit Fight site at sourpatchkids.gg/fruitfight.
About Enthusiast Gaming
Enthusiast Gaming is an integrated gaming entertainment company that is building the largest media and content platform for video game and esports fans to connect and engage worldwide. Combining the elements of its four core pillars: Communities, Content, Creators, and Experiences, Enthusiast Gaming provides a unique opportunity and integrated approach to reach and connect with coveted GenZ and Millennial audiences. Through its proprietary mix of digital media and entertainment assets, Enthusiast Gaming has built a vast network of like-minded communities to deliver the ultimate fan experience. Visit Enthusiast Gaming for more information.
Contacts
Enthusiast Gaming Investor Relations:
Eric Bernofsky, Chief Corporate Officer
[email protected]
Forward-Looking Statements
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Enthusiast Gaming anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass.
Forward-looking statements are based on assumptions and analyses made by the Enthusiast Gaming in light of its experience and its perception of historical trends, current conditions and expected future developments. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; and future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive. For more information on the risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Enthusiast Gaming which are available on SEDAR at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Enthusiast Gaming disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the exchange) accepts responsibility for the adequacy or accuracy of this release.
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NEWS_213 | Shares of Medtronic PLC MDT, +1.80% rose 1.80% to $82.37 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's third consecutive day of gains. Medtronic PLC closed $31.94 short of its 52-week high ($114.31), which the company achieved on April 21st.
The stock outperformed some of its competitors Monday, as Johnson & Johnson JNJ, -0.25% fell 0.25% to $168.31, Danaher Corp. DHR, +0.95% rose 0.95% to $277.00, and Abbott Laboratories ABT, +1.05% rose 1.05% to $114.01. Trading volume (9.5 M) eclipsed its 50-day average volume of 8.0 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_214 | Shares of MetLife Inc. MET, +0.71% inched 0.71% higher to $70.69 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. MetLife Inc. closed $6.67 short of its 52-week high ($77.36), which the company reached on November 25th.
Trading volume (7.7 M) eclipsed its 50-day average volume of 3.7 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_215 | Tesla (NASDAQ: TSLA) and Google parent-company Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) may not have a lot of similarities in terms of the products and services that they sell. Tesla and Alphabet are both high-margin businesses that generate a ton of free cash flow (FCF), which can be used to accelerate investments, keep debt off the balance sheet, repurchase stock, and make strategic acquisitions. Demand for consumer-discretionary products -- like cars, as well as ad budgets -- decline during a weakening economy, and this could impact the growth of Tesla and Alphabet in the short term. |
NEWS_216 | (Bloomberg) -- Apple Inc.’s long-anticipated mixed-reality headset is an ambitious attempt to create a 3D version of the iPhone’s operating system, with eye- and hand-tracking systems that could set the technology apart from rival products.
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The roughly $3,000 device, due later this year under the likely name of Reality Pro, will take a novel approach to virtual meetings and immersive video, aiming to shake up a VR industry currently dominated by Meta Platforms Inc. It’s a high-stakes gambit for Apple, which is expanding into its first major new product category since releasing a smartwatch in 2015, and the company needs to wow consumers.
Apple is pushing into an uncertain market with a premium-priced product. The company’s 1,000-person-plus Technology Development Group has spent more than seven years on the project, and Apple is counting on it to become a new revenue source — especially with sales growth poised to stall this year.
But virtual reality has proven a challenge for the biggest titans of technology. Though some projections have the industry topping $100 billion by the decade’s end, headsets are still seen as niche items — and Meta has lost billions on its efforts.
Apple’s goal is to bring something new to the table. The eye- and hand-tracking capabilities will be a major selling point for the device, according to people familiar with the product, which is expected to cost roughly twice the price of rival devices. Its core features will include advanced FaceTime-based videoconferencing and meeting rooms.
The headset also will be able to show immersive video content, serve as an external display for a connected Mac, and replicate many functions of iPhones and iPads.
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Here’s how it will work: The headset will have several external cameras that can analyze a user’s hands, as well as sensors within the gadget’s housing to read eyes. That allows the wearer to control the device by looking at an on-screen item — whether it’s a button, app icon or list entry — to select it.
Users will then pinch their thumb and index finger together to activate the task — without the need to hold anything. The approach differs from other headsets, which typically rely on a hand controller.
Like Meta’s latest headset, Apple’s device will use both virtual and augmented reality. With VR, users see images and content within the goggles. AR, on the other hand, overlays digital content on top of real-world views.
The headset will have two ultra-high-resolution displays — developed with Sony Group Corp. — to handle the VR and a collection of external cameras to enable an AR “pass-through mode.” That means users will see the real world through the cameras positioned on the headset. Apple will offer users with prescription glasses custom lenses that sit within the enclosure itself.
The device will have a so-called Digital Crown — like the Apple Watch — that lets users switch between VR and AR. When in VR, the wearer is fully immersed. When AR is enabled, the content fades back and becomes surrounded by the user’s real environment. Apple expects this to be a highlight of the product, according to the people, who asked not to be identified because the project is still under wraps.
Given that the headset is still months from being released, some features could still be canceled or changed, the people added. A spokeswoman for Apple declined to comment.
The headset’s FaceTime software will realistically render a user’s face and full body in virtual reality. Those avatars will allow two people — each with an Apple headset — to communicate and feel like they’re in the same room. The technology differs from virtual meeting rooms on Meta’s headset, which creates a more cartoon-like avatar of the user.
Because of the immense processing power necessary for the feature, the headset will only support realistic avatars during one-on-one video chats. It will still allow for FaceTime sessions with several people, but additional users will be displayed as an icon or Memoji — Apple’s customized emoji.
Apple plans to unveil the device as early as this spring, though the schedule could still shift, according to the people. That would let the company discuss the product at its annual conference for software developers in June and then release it later this year.
As with some of Apple’s earlier big bets, the company plans to start slow. It’s aiming to begin early production of the device as soon as February in China and is considering launching the product in the US only to start. The price tag also is expected to limit the product’s appeal, and Apple is already working on a cheaper version — for release in late 2024 or early 2025 — that could be closer to $1,500. That’s what Meta charges for its mixed-reality headset.
Apple expects to sell about 1 million units of its new headset in its first year. That compares with more than 200 million units for the iPhone, the Cupertino, California-based company’s biggest moneymaker. In a rare move, it’s also not planning to make a profit on the initial version — even at the high price — indicating that the company is taking a long-term view of the platform.
Immersive video watching will be a core feature of the new device. Apple has discussed developing VR content for the platform with about half a dozen media partners, including Walt Disney Co. and Dolby Laboratories Inc. And the tech giant is working to update its own Apple TV+ material to work with the headset. As part of the push, Apple bought streaming company NextVR in 2020, aiming to create sports content in VR.
Apple is planning for the headset to have a dedicated video-watching feature that can make viewers feel like they’re seeing a movie on a giant screen in another environment, such as a desert or outer space. But while the headset’s video will be immersive, its speakers will be less powerful. So users will need to wear AirPods earbuds to get full spatial audio — a surround-sound effect.
The device will also have productivity features, including the ability to serve as an external monitor for a Mac. With that feature, users will be able to see their Mac’s display in virtual reality but still control the computer with their trackpad or mouse and physical keyboard.
The headset’s operating system, internally called xrOS, will have many of the same features as an iPhone and iPad but in a 3D environment. That includes the Safari web browser, photos, mail, messages and the calendar app. And it will also have apps for the company’s services, such as the App Store to install third-party software, Apple TV+, music and podcasts. The company is working on health-tracking functions as well.
The experience should feel familiar to Apple users. When they put the headset on, the main interface will be nearly identical to that of the iPhone and iPad, featuring a home screen with a grid of icons that can be reorganized. Users will be able to pin widgets, such as the weather, calendar appointments, email and stock-market performance, among their app icons.
When users need to input text, they can use the Siri voice assistant or rely on an iPhone, Mac or iPad keyboard. Unlike with an Apple Watch, though, an iPhone isn’t required for operation. The company is developing technology that will let users type in midair with their hands, but such a feature is unlikely to be ready for the initial launch.
Gaming is expected to be a popular offering from third-party developers, and Apple has created its own underlying engine to power VR games. In 2017, the company released ARKit and other tools to help developers prepare augmented reality experiences on the iPhone. This helped set the stage for programmers to build apps, games and services for the headset.
The Apple device will include a variation of the M2 chip found in the company’s latest Macs, as well as a dedicated processor for graphics and mixed-reality experiences. That second chip will be dubbed the Reality Processor, according to trademark applications filed by the tech giant.
But making the processors powerful enough brought another concern: having the device overheat while it’s on a user’s face. To address that problem, Apple made the decision to offload the battery from inside of the headset to an external pack. It rests in a user’s pocket and connects over a cable. Another tweak is the inclusion of a cooling fan like on high-end Macs.
The headset can last about two hours per battery pack, in line with rival products. The battery, however, is large: roughly the size of two iPhone 14 Pro Maxes stacked on top of each other, or about 6 inches tall and more than half an inch thick. Still, some internal prototypes for software development have a built-in battery and charge over USB-C.
Meta, in contrast, puts its batteries on the back of its headset in a way that helps balance the device on a person’s head. Apple’s approach may ultimately be less comfortable for users, especially if they’re watching a whole movie while wearing the headset. Some testers have complained that the product can be cumbersome, according to the people.
The relatively brief battery life — about 20 hours less than Apple’s latest MacBook Pro — could create its own hassles. If users want to watch multiple movies or play games for hours at a time, they may need to buy multiple batteries and frequently swap them out.
Apple has acknowledged those challenges internally, and it’s been trying to set realistic expectations for the product. One benefit of the device, the company believes, is that it could spur customers to visit Apple retail stores — not necessarily to buy the product, but to try it out. They may then purchase another device, such as an iPad or AirPods.
To show off the new headset, Apple is creating a “store within a store” concept — an area within its retail outlets dedicated to demonstrating the product. The company did something similar when it launched the Apple Watch, which is now central to a $41 billion division.
The initial headset will be made from aluminum, glass and cushions — and be reminiscent of Apple’s $550 AirPods Max headphones. The product will have a curved screen on the front that can outwardly show a wearer’s eyes, with speakers on the sides and a headband that helps fit the device around a user’s head.
That will differ from the mostly plastic design of rival products, which typically strap the device to the wearer with multiple bands.
The eye and hand tracking may end up being the most memorable element of the headset. As with its earlier big bets, Apple likes to include a groundbreaking interface that sets its products apart from competitors. With the iPod, it was the click wheel. With the iPhone and iPad, it was the multitouch approach. And with the Apple Watch, it was the Digital Crown.
Now Apple hopes the headset’s sci-fi-like interface will make its latest product a winner.
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NEWS_217 | High-profile activist investor Elliott Management has taken a stake in business-software provider Salesforce, sending its shares up early on Monday. It’s the latest in a series of activist interventions in technology companies.
“We look forward to working constructively with Salesforce to realize the value befitting a company of its stature,” Jesse Cohn, managing partner at Elliott, tweeted early on Monday.
Cohn didn’t give any more details of Elliott’s investment in Salesforce (ticker: CRM) but its stake is worth several billion dollars, according to The Wall Street Journal, which cited people familiar with the matter. Salesforce didn’t immediately respond to a Barron’s request for comment early on Monday.
Salesforce shares were up 2.2% at $154.62 in early trading on Monday. The stock has roughly halved in value since hitting peaks of more than $300 a share in late 2021.
“This purchase does not surprise us, as we believe the incremental activist ownership is positioned and prepared to work well with founder Marc Benioff and CFO Amy Weaver,” analysts at Macquarie wrote in a research note. “Management have taken steps of late to signal their willingness to focus on margin, with a keen eye towards preserving growth in the face of what could be a longer and leaner recession.”
The investment adds a second activist investor to Salesforce’s shareholder register, after hedge fund Starboard Value made its own investment in the company late last year. Starboard hasn’t pushed for any specific changes so far but has called for the company to increase its margins.
Technology stocks were the single most targeted sector for activist investments last year, with Meta Platforms (META) and Google-parent Alphabet (GOOGL) facing campaigns to rein in spending and subsequently announcing large-scale layoffs.
Salesforce said earlier this month it intends to cut around 10% of its 80,000-strong workforce as its business customers become more cautious about spending. It isn’t clear yet whether Elliott will be pushing for deeper spending cuts at Salesforce, as some analysts have suggested will be necessary.
Write to Adam Clark at [email protected] |
NEWS_218 | Shares of Meta Platforms Inc. META, +2.80% advanced 2.80% to $143.27 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index COMP, +2.01% rising 2.01% to 11,364.41 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's third consecutive day of gains. Meta Platforms Inc. closed $184.73 short of its 52-week high ($328.00), which the company reached on February 2nd.
The stock outperformed some of its competitors Monday, as Apple Inc. AAPL, +2.35% rose 2.35% to $141.11, Microsoft Corp. MSFT, +0.98% rose 0.98% to $242.58, and Alphabet Inc. Cl C GOOG, +1.94% rose 1.94% to $101.21. Trading volume (26.9 M) remained 6.9 million below its 50-day average volume of 33.8 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_219 | Shares of MGM Resorts International MGM, +2.18% rose 2.18% to $39.90 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. MGM Resorts International closed $9.10 below its 52-week high ($49.00), which the company achieved on February 10th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Las Vegas Sands Corp. LVS, +1.50% rose 1.50% to $55.39, DraftKings Inc. DKNG, +4.90% rose 4.90% to $14.56, and Caesars Entertainment Inc. CZR, +5.93% rose 5.93% to $50.34. Trading volume (3.8 M) remained 395,534 below its 50-day average volume of 4.2 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_220 | Shares of Mohawk Industries Inc. MHK, +1.23% rose 1.23% to $116.01 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Mohawk Industries Inc. closed $44.96 below its 52-week high ($160.97), which the company reached on January 26th.
Trading volume (394,734) remained 196,058 below its 50-day average volume of 590,792. |
NEWS_221 | Shares of Micron Technology Inc. MU, +5.75% rallied 5.75% to $61.82 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Micron Technology Inc. closed $34.68 short of its 52-week high ($96.50), which the company reached on February 15th.
Trading volume (20.2 M) eclipsed its 50-day average volume of 15.7 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_222 | Shares of McCormick & Co. Inc. MKC, +1.56% advanced 1.56% to $78.65 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. McCormick & Co. Inc. closed $28.70 below its 52-week high ($107.35), which the company achieved on March 7th.
Trading volume (1.1 M) remained 7,362 below its 50-day average volume of 1.1 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_223 | Shares of MarketAxess Holdings Inc. MKTX, -0.58% slipped 0.58% to $334.04 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. MarketAxess Holdings Inc. closed $56.09 short of its 52-week high ($390.13), which the company reached on March 1st.
The stock underperformed when compared to some of its competitors Monday, as Blackstone Inc. BX, +3.32% rose 3.32% to $87.83, Morgan Stanley MS, +0.92% rose 0.92% to $97.13, and Charles Schwab Corp. SCHW, +0.91% rose 0.91% to $77.73. Trading volume (265,630) remained 70,326 below its 50-day average volume of 335,956.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_224 | Competition is intensifying in the market for cloud-based communications tools. MKM Partners analyst Catherine Trebnick thinks you should get out of the way.
Trebnick on Monday cut her ratings on both Zoom Video Communications (ticker: ZM) and RingCentral (RNG) to Neutral from Buy. She chopped her target price on Zoom to $75 from $100; she maintained her $40 target on RingCentral.
Her case on the two stocks was similar.
She wrote that her previous bullish stance on Zoom was based on the theory that the company could generate 10% growth in the post-pandemic period. But she said that with increasing macroeconomic pressure on the company’s enterprise business, and growing competition in the market, she now sees limited growth potential for Zoom’s core video meeting business.
Trebnick estimated that 80% to 85% of Zoom’s revenue comes from video meetings, and she said that recent discussions with customers and sales channel sources found that many companies are looking for ways to cut costs by removing overlapping services. And Trebnick noted that so far Zoom’s push into adjacent areas has had only a limited impact on growth.
The analyst sees growth of 6.7% for the January 2023 fiscal year, but with just 2.7% growth in the fourth quarter. For fiscal 2024, she sees growth slowing to 4.5%.
For RingCentral, she noted that the competitive landscape for cloud-based telephony services has grown more crowded. Trebnick trimmed her growth outlook for calendar 2023 to 15.5%, from 16.8%, due to both “macro pressures and the fiercely competitive landscape.” She sees increasing competition not only from Zoom, but also from Microsoft (MSFT) and Cisco (CSCO).
Despite the downgrades, both Zoom and RingCentral shares were up more than 2% on Monday.
Write to Eric J. Savitz at [email protected] |
NEWS_225 | Shares of Cisco Systems Inc. CSCO, +1.54% advanced 1.54% to $47.50 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Cisco Systems Inc. closed $10.19 short of its 52-week high ($57.69), which the company reached on February 18th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Microsoft Corp. MSFT, +0.98% rose 0.98% to $242.58, Amazon.com Inc. AMZN, +0.28% rose 0.28% to $97.52, and Broadcom Inc. AVGO, +1.90% rose 1.90% to $581.63. Trading volume (15.2 M) remained 3.5 million below its 50-day average volume of 18.7 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_226 | Nominate a hardworking school custodian through February 17
CINCINNATI, January 23, 2023--(BUSINESS WIRE)--In the past few years, the role of school custodians has never been more important. To honor their hard work and dedication, Cintas Corporation (Nasdaq: CTAS) launches its 10th annual Cintas Custodian of the Year contest, which honors standout school custodians. Submit nominations at custodianoftheyear.com through February 17.
"Custodians take on a lot of responsibility to help provide a clean and healthy space for students, faculty and staff," said Christiny Betsch, Marketing Manager, Cintas. "For the last nine years we’ve heard tremendous stories of custodians going above and beyond and look forward to continue honoring custodians in this tenth year of the contest."
Cintas will award $10,000 to the winning custodian and $5,000 in Cintas and Rubbermaid products and services to the winner’s school. On top of that, the winner’s school will receive a facility assessment and consulting package from ISSA, The Worldwide Cleaning Industry Association, valued at $30,000 and enrollment in the Global Biorisk Advisory Council (GBAC) Fundamentals Online Course. The nine finalists who round out the Top 10 will receive $1,000 each on behalf of Cintas, a cleaning supply package from Rubbermaid and complimentary tuition to one ISSA Cleaning Management Institute (CMI) virtual training event, valued at $1,500. New this year, the Top 3 finalists will also receive an all-expense-paid trip for two to the ISSA Show North America in Las Vegas in November where they’ll be celebrated for their accomplishments.
"Despite long hours, custodians continue to show up for their students, faculty and others in their communities," said John Barrett, Executive Director, ISSA. "ISSA has been in awe of their commitment, and we’re proud to work with Cintas to celebrate the best custodians across the U.S."
Last year, Cintas Corporation awarded Lydell Henderson of Presidential Park Elementary School in Middletown, N.Y. as the 2022 Cintas Custodian of the Year. To celebrate Mr. Henderson, over 1,500 students and staff, in addition to his family, honored him with a surprise ceremony, complete with countless handmade signs from students and endless cheering and high-fives.
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The Cintas Custodian of the Year contest is open to all elementary, middle, high school, college and university custodians who have worked at their school for at least two years. Nominations must be 500 words or less on why the nominee is deserving of the award and submitted by February 17. Cintas will announce the top 10 finalists on March 14. The public can vote for their favorite custodian through April 14, and the finalist with the most votes will be crowned Custodian of the Year at the end of April.
Rubbermaid Commercial Products’ Sr. Vice President Sales and Marketing, Robert Posthauer, added: "Custodians are the ones behind the scenes who ensure school facilities are welcoming learning environments. Without them, schools, universities and colleges wouldn’t be able to function properly. We’re delighted to again partner with Cintas as they celebrate the 10th Custodian of the Year awards to cherish school custodians."
For more information about the Cintas Custodian of the Year contest, contact Brianna Fitzpatrick at [email protected]. A Custodian of the Year logo is available via email or Dropbox here.
About Cintas Corporation:
Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. The company is also the creator of the Total Clean Program™ — a first-of-its-kind service that includes scheduled delivery of essential cleaning supplies, hygienically clean laundering, and sanitizing and disinfecting products and services. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index.
About ISSA:
With more than 10,500 members – including distributors, manufacturers, manufacturer representatives, wholesalers, building service contractors, in-house service providers, residential cleaners, and associated service members – ISSA is the world’s leading trade association for the cleaning industry. The association is committed to changing the way the world views cleaning by providing its members with the business tools they need to promote cleaning as an investment in human health, the environment, and an improved bottom line. Headquartered in Rosemont, Ill., USA, the association has regional offices in Milan, Italy; Whitby, Canada; Parramatta, Australia; Seoul, South Korea; and Shanghai, China. For more information about ISSA, visit www.issa.com or call 800-225-4772 (North America) or 847-982-0800.
About Rubbermaid Commercial Products
Rubbermaid Commercial Products (RCP), headquartered in Huntersville, NC, is a manufacturer of innovative, solution-based products for commercial and institutional markets worldwide. Since 1968, RCP has pioneered technologies and system solutions in the categories of washroom and safety, cleaning, waste handling, material transport, and food services. RCP is part of Newell Brands’ global portfolio of leading brands and continues to develop innovative products. Visit www.rubbermaidcommercial.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005678/en/
Contacts
Brianna Fitzpatrick
Mulberry Marketing Communications
[email protected] |
NEWS_227 | Shares of Cintas Corp. CTAS, +0.28% inched 0.28% higher to $437.77 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Cintas Corp. closed $32.46 below its 52-week high ($470.23), which the company reached on December 13th.
The stock outperformed some of its competitors Monday, as Aramark ARMK, -0.46% fell 0.46% to $44.99. Trading volume (310,715) remained 67,454 below its 50-day average volume of 378,169. |
NEWS_228 | Shares of Coterra Energy Inc. CTRA, +0.62% inched 0.62% higher to $25.78 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's third consecutive day of gains. Coterra Energy Inc. closed $10.77 short of its 52-week high ($36.55), which the company achieved on June 8th.
The stock underperformed when compared to some of its competitors Monday, as EOG Resources Inc. EOG, +1.08% rose 1.08% to $134.18, Diamondback Energy Inc. FANG, +1.22% rose 1.22% to $149.35, and Civitas Resources Inc. CIVI, +1.80% rose 1.80% to $65.07. Trading volume (6.2 M) remained 4.1 million below its 50-day average volume of 10.3 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_229 | Palm Valley Capital Management, an investment management firm, released its fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Palm Valley Capital Fund returned 3.86% compared to a 9.19% rise for the S&P SmallCap 600 Index and an 8.05% return for the Morningstar Small Cap Index. A large cash position led the fund to underperform its benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
In its Q3 2022 investor letter, Palm Valley Capital Management mentioned Coterra Energy Inc. (NYSE:CTRA) and explained its insights for the company. Founded in 1989, Coterra Energy Inc. (NYSE:CTRA) is a Houston, Texas-based premier, diversified energy company with a $20.2 billion market capitalization. Coterra Energy Inc. (NYSE:CTRA) delivered a 4.27% return since the beginning of the year, while its 12-month returns are up by 31.18%. The stock closed at $25.62 per share on January 20, 2023.
Here is what Palm Valley Capital Management has to say about Coterra Energy Inc. (NYSE:CTRA) in its Q3 2022 investor letter:
"For the full calendar year, the Fund’s top performers includes Coterra Energy Inc. (NYSE:CTRA). Coterra Energy Inc. (NYSE:CTRA)’s stock rose sharply along with energy prices at the beginning of 2022."
Suwin/Shutterstock.com
Our calculations show that Coterra Energy Inc. (NYSE:CTRA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Coterra Energy Inc. (NYSE:CTRA) was in 39 hedge fund portfolios at the end of the second quarter of 2022, compared to 40 funds in the previous quarter. Coterra Energy Inc. (NYSE:CTRA) delivered a -15.39% return in the past 3 months.
In December 2022, we published an article that includes Coterra Energy Inc. (NYSE:CTRA) in 12 Oil Stocks With Biggest Upside. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q4 2022 page.
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Disclosure: None. This article is originally published at Insider Monkey. |
NEWS_230 | Acquisition expands Cognizant's IoT embedded software engineering capabilities across technology and automotive industries
TEANECK, N.J., Jan. 23, 2023 /PRNewswire/ -- Cognizant has entered into an agreement to acquire Mobica, an IoT software engineering services provider headquartered in Manchester, United Kingdom. Mobica's services span the full software development cycle, with core competencies in development, implementation, testing and deployment of embedded software, and a specialization in clients' strategic internal research and development projects.
New Cognizant Logo
The acquisition significantly expands Cognizant's IoT embedded software engineering capabilities and provides clients with a deeper and broader array of end-to-end support to enable digital transformation. Embedded software engineering is a fast-growing segment of the IoT and engineering market. Market intelligence firm IDC forecasts global product engineering spending to increase from $83 billion in 2021 to $164 billion by 2026.1
Upon closing of the acquisition, Cognizant will add nearly 900 people across Europe and North America, including approximately 550 engineers in Poland.
"Mobica's strong track record of delivering strategic embedded software engineering services is well-aligned to Cognizant's Global 2000 client base and key industries, while its large presence in Poland significantly enhances our growing development teams in Eastern Europe," said Annadurai Elango, executive vice president of Cognizant's Core Technologies and Insights. "We believe combining Mobica's expertise with Cognizant's strong IoT and product engineering capabilities will result in enhanced digital transformation outcomes for global clients in the technology and automotive industries and beyond."
Mobica's expertise in three key areas – connected devices and digital transformation, silicon and technology platforms, and automotive and intelligent mobility – is expected to further strengthen Cognizant's client offerings and position as a strategic partner in enterprise digital transformation.
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"Mobica has built a reputation for world-class IoT embedded software engineering expertise across the entire technology stack, from chip to cloud," said Sam Kingston, CEO of Mobica. "The alignment we share with Cognizant from a technology, industry and client-focus standpoint represents a strong platform for continued growth in Europe and North America, and an opportunity for our talented team to grow their skills and careers."
Mobica builds upon Cognizant's earlier efforts to establish strategic capabilities in Eastern Europe via the acquisitions of Softvision in 2018 and Devbridge in 2021, which have significant software product engineering operations in Romania and Lithuania, respectively. Upon acquiring Mobica, Cognizant will have more than 7,500 associates in Eastern Europe, including approximately 4,500 engineers.
The acquisition is expected to close in February 2023, subject to satisfaction of closing conditions. Financial details were not disclosed.
About Mobica
Mobica is a global software services company, providing Tech Talent-as-a-Service (TaaS), helping businesses build pioneering experiences for their customers. Headquartered in Manchester UK with offices across Europe and US, Mobica partners with businesses across multiple industries - from aerospace to finance and semiconductors to automotive - providing them with access to incredible talent and software engineering expertise across the entire technology stack, from concept and development, through to testing and integration, from chip to cloud. With over 700 world class software engineers, Mobica specialises in turning complex business challenges into competitive advantage through vast cross-industry experience and ability to deliver at scale. Driving expertise since 2004. Follow Mobica: LinkedIn, Facebook, YouTube
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to expectations regarding growth in the global IoT market, the anticipated closing of the acquisition of Mobica and the impact of the acquisition of Mobica on the business and prospects of Cognizant. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the competitive and rapidly changing nature of the markets we compete in, the competitive marketplace for talent and its impact on employee recruitment and retention, legal, reputational, and financial risks resulting from cyberattacks, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
For more information, contact:
U.S. Jodi Sorensen [email protected]
Europe / APAC Christina Schneider [email protected]
India Rashmi Vasisht [email protected]
1 International Data Corporation (IDC); Worldwide Product Engineering and Operational Technology Services Forecast, 2022–2026, US48533822; August, 2022.
SOURCE Cognizant Technology Solutions |
NEWS_231 | Shares of Cognizant Technology Solutions Corp. CTSH, +2.39% rose 2.39% to $64.24 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's third consecutive day of gains. Cognizant Technology Solutions Corp. closed $29.23 short of its 52-week high ($93.47), which the company achieved on March 22nd.
The stock underperformed when compared to some of its competitors Monday, as Cadence Design Systems Inc. CDNS, +2.89% rose 2.89% to $183.41 and Palantir Technologies Inc. PLTR, +5.13% rose 5.13% to $7.38. Trading volume (4.1 M) remained 661,404 below its 50-day average volume of 4.8 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_232 | Shares of Corteva Inc. CTVA, -0.74% shed 0.74% to $61.90 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. The stock's fall snapped a two-day winning streak. Corteva Inc. closed $6.53 below its 52-week high ($68.43), which the company achieved on November 2nd.
Trading volume (2.8 M) remained 73,679 below its 50-day average volume of 2.8 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_233 | Agreement establishes new Accountable Care collaboration that emphasizes health equity, coordinated care and improved access
WOONSOCKET, R.I. and CHICAGO, Jan. 23, 2023 /PRNewswire/ -- CVS Accountable Care Organization, Inc., a division of the CVS Health family of businesses (NYSE: CVS), today announced it has entered into a collaboration with RUSH University System for Health (RUSH) to expand access for Medicare patients to RUSH clinical services in the Chicago area. The collaboration is based on the Centers for Medicare & Medicaid Innovation (CMMI) redesigned direct contracting model, ACO Realizing Equity, Access, and Community Health (REACH)1.
CVS Health (PRNewsFoto/CVS Health)
The collaboration enables patients seeking health services at various ACO REACH-participating MinuteClinic® locations in Chicago and Evanston to access care with RUSH and other ACO REACH entities for follow-up primary and specialty care. MinuteClinic locations offer in-person and virtual care seven days a week, with same-day appointments and extended hours.
"RUSH is honored and excited to work with CVS Health," said Dr. Omar Lateef, RUSH President and Chief Executive Officer. "This provides another option for patients at a time when access to high-quality health care is more important than ever. It will help strengthen care coordination for patients, while enabling them to receive services convenient to where they live and work."
To fulfill the organizations' shared commitment to delivering accessible, affordable, coordinated and equitable care, RUSH will be the only Chicago-area academic medical center participant in CVS ACO REACH's first Accountable Care Organization (ACO) based on the REACH model. ACO REACH prioritizes health equity and the reduction of unnecessary medical costs by moving patients away from Medicare's fee-for-service system and toward value-based care.
"As part of CVS Health's care delivery strategy, we are engaging our assets on behalf of this ACO REACH population to help drive high-quality outcomes, promote health equity, and bring health care costs down," said Mohamed Diab, CEO, CVS Accountable Care Organization, noting CVS Health's omnichannel care model that focuses on expanding virtual and in-person services in community-based MinuteClinic and HealthHUB™ locations. "Our strategic alignment with RUSH has the potential to help improve longitudinal care for their Medicare population of 35,000 beneficiaries."
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The agreement builds on RUSH's successes in the Medicare Shared Savings Program to ensure patients have access to equitable, accessible and high-quality care. Over the last two years, RUSH has led the way in value-based care among Chicago-area academic health organizations.
Customized support will be offered for Medicare patients who need it, including home-based care, transportation support for annual wellness visits, cost sharing to help with co-pays, and other enhanced services and incentives.
Both CVS Health and RUSH have longstanding commitments to reducing inequities that drive unequal health outcomes. CVS Health is committed to advancing health equity for its customers, colleagues, clients and communities by improving trust, health care access and quality of health for every population it serves.
"In every part of our business at CVS Health, we ensure that culturally competent care is integrated into the design and development of new population health initiatives, products and services," Diab said. "Our new ACO REACH work and collaboration with RUSH is another example of our focus on improving health equity."
Recognizing the injustice of growing gaps in health outcomes, locally and nationally, RUSH in 2019 became one of the first academic health systems to make health equity a strategic priority.
"RUSH has a long-held commitment to improving the health of the communities we serve," said Lateef. "This agreement reflects that strong commitment and a terrific opportunity to build upon that foundation of strong community-based programs and partnerships and have impact for patients on day one."
About CVS Health
CVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health – whether that's managing chronic diseases, staying compliant with their medications, or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system – and their personal health care – by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.
About RUSH
RUSH University System for Health brings together the brightest minds in medicine, research and academics. Driven by discovery, innovation and a deep responsibility for the health of our communities, RUSH is a national leader in outstanding patient care, education, research, community partnerships and empowering a new generation of health care providers.
RUSH University Medical Center is ranked among the top hospitals in the nation by U.S. News & World Report. The Medical Center was also ranked No. 4 in the nation by Vizient and named a Top Teaching Hospital by The Leapfrog Group.
RUSH includes RUSH University Medical Center, RUSH University, RUSH Copley Medical Center and RUSH Oak Park Hospital and numerous outpatient care facilities, as well as an extensive provider network that includes more than 140 physician practices. RUSH University comprises four colleges: RUSH Medical College, the College of Nursing, the College of Health Sciences and the Graduate College.
CVS Health media contact:
Kathleen Biesecker
Phone: 703-472-8466
Email: [email protected]
RUSH media contact:
Tobin Klinger
Phone: 224-571-6542
Email: [email protected]
1 The statements contained in this document are solely those of the authors and do not necessarily reflect the views or policies of CMS. The authors assume responsibility for the accuracy and completeness of the information contained in this document.
Cision
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SOURCE CVS Health |
NEWS_234 | WOONSOCKET, R.I., Jan. 23, 2023 /PRNewswire/ -- CVS Health® (NYSE: CVS) today announced two executive appointments. David Joyner will rejoin the company as Executive Vice President and President of Pharmacy Services, while Amy Bricker has been named Executive Vice President and Chief Product Officer – Consumer.
CVS Health (PRNewsFoto/CVS Health)
"David and Amy are accomplished leaders with proven track records of anticipating and meeting customer and client needs," said CVS Health President and CEO Karen S. Lynch. "David has deep experience in pharmacy benefit management that will help us deliver on our growth strategy for the business."
Joyner will join the company on January 30 and lead the Pharmacy Services segment, which provides solutions to employers, health plans, and government businesses and serves more than 110 million members through CVS Caremark®, CVS Specialty® and other areas. He will become a member of the company's executive leadership team and report to Lynch. Joyner, a former CVS Health executive, brings more than 34 years of health care and pharmacy benefit management experience to the company.
"CVS Caremark is a pharmacy innovator, consistently delivering industry leading products and results for customers," said Joyner. "I look forward to working alongside a talented team dedicated to improving the health care experience."
Joyner replaces Dr. Alan Lotvin, who plans to retire in April. Dr. Lotvin has played a critical role in the growth and success of several CVS Health businesses over the course of his 10-year tenure. He has been a champion of affordable and accessible health care, previously serving as head of CVS Specialty and as Chief Transformation Officer.
Bricker will join the company in February, serving on the company's executive leadership team and reporting to Lynch in a newly created role. Bricker has nearly 20 years of diverse health care experience, most recently serving as President of Express Scripts.
"Every element of our strategy puts consumers first, with a particular focus on the products and services they use to stay well," said Lynch. "Amy's passion and proven leadership will be invaluable assets as we continue to deliver on that strategy."
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Bricker will focus on consumer products and innovation, leading the development of new products that support the evolving health care needs of consumers in the community, the home, and digitally.
"CVS Health has unmatched opportunities to enhance and launch consumer products that make care simpler and more affordable," said Bricker. "I'm incredibly excited to join the company at a pivotal time in health care."
About CVS Health
CVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health – whether that's managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system – and their personal health care – by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.
Media contact
T.J. Crawford
212-457-0583
[email protected]
Investor contact
Larry McGrath
800-201-0938
[email protected]
Cision
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SOURCE CVS Health |
NEWS_235 | Shares of CVS Health Corp. CVS, +0.23% inched 0.23% higher to $87.20 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. The stock's rise snapped a four-day losing streak. CVS Health Corp. closed $24.05 short of its 52-week high ($111.25), which the company reached on February 8th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Amazon.com Inc. AMZN, +0.28% rose 0.28% to $97.52, UnitedHealth Group Inc. UNH, -0.19% fell 0.19% to $485.81, and Elevance Health Inc. ELV, -0.32% fell 0.32% to $477.94. Trading volume (14.5 M) eclipsed its 50-day average volume of 6.6 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_236 | Shares of Chevron Corp. CVX, -0.13% slid 0.13% to $180.66 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. The stock's fall snapped a two-day winning streak. Chevron Corp. closed $9.02 short of its 52-week high ($189.68), which the company achieved on November 14th.
Trading volume (8.1 M) eclipsed its 50-day average volume of 7.7 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_237 | Chevron Corporation CVX is set to release fourth-quarter results on Jan 27. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of $4.27 per share on revenues of $53.6 billion.
Let’s delve into the factors that might have influenced the American energy biggie’s performance in the December quarter. But it’s worth taking a look at Chevron’s previous-quarter performance first.
Highlights of Q3 Earnings & Surprise History
In the last reported quarter, the San Ramon, CA-based integrated player beat the consensus on robust commodity prices and product margins, which propelled both CVX segments to a better-than-expected bottom line. Chevron had reported adjusted earnings per share of $5.56, eclipsing the Zacks Consensus Estimate by 54 cents. Revenues of $66.6 billion had also come in 13% above the consensus mark.
Chevron beat the Zacks Consensus Estimate in two of the last four quarters and missed in the others, which resulted in an earnings surprise of 1.7%, on average. This is depicted in the graph below:
Halliburton Company Price and EPS Surprise
Halliburton Company Price and EPS Surprise
Halliburton Company price-eps-surprise | Halliburton Company Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for the fourth-quarter bottom line has remained unchanged in the past seven days. The estimated figure indicates a 66.8% improvement year over year. The Zacks Consensus Estimate for revenues, meanwhile, suggests an 11.3% increase from the year-ago period.
Factors to Consider
Chevron is expected to have benefited from the strength in upstream segment revenues and cash flows. As a matter of fact, for the to-be-reported quarter, the Zacks Consensus Estimate for the upstream unit is pegged at a profit of $6.7 billion, indicating a significant jump from the prior-year quarter’s income of $5.2 billion.
CVX is also expected to have reaped the reward of a better macro environment in its downstream (or refining) unit. With margins remaining healthy, the company should see segment earnings surge year over year. Echoing Chevron’s healthy downstream dynamics, the Zacks Consensus Estimate for the to-be-reported quarter’s income is projected at $1.7 billion. The number suggests a more than doubling from the profit of $760 million reported in the year-ago quarter.
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Why a Likely Positive Surprise?
Our proven model predicts an earnings beat for Chevron this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Chevron has an Earnings ESP of +1.67% and a Zacks Rank #3.
Other Stocks to Consider
Chevron is not the only energy company looking up this earnings cycle. Here are some other firms from the space that you may want to consider on the basis of our model:
Helmerich & Payne HP has an Earnings ESP of +8.68% and a Zacks Rank #1. The firm is scheduled to release earnings on Jan 30.
You can see the complete list of today’s Zacks #1 Rank stocks here.
For fiscal 2023, Helmerich & Payne has a projected earnings growth rate of 4,380%. Valued at around $5 billion, HP has gained 67.1% in a year.
Halliburton Company HAL has an Earnings ESP of +0.30% and a Zacks Rank #2. The firm is scheduled to release earnings on Jan 24.
HAL topped the Zacks Consensus Estimate by an average of 5.5% in the trailing four quarters, including a 7.1% beat in Q3. Halliburton has gained 42.3% in a year.
Valero Energy Corporation VLO has an Earnings ESP of +1.55% and a Zacks Rank #3. The firm is scheduled to release earnings on Jan 26.
The Zacks Consensus Estimate for VLO’s 2022 earnings has been revised 5.2% upward over the past 90 days. Valued at around $55 billion, Valero Energy has gained 81.6% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Chevron Corporation (CVX) : Free Stock Analysis Report
Halliburton Company (HAL) : Free Stock Analysis Report
Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report
Valero Energy Corporation (VLO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_238 | Chevron (CVX) closed the most recent trading day at $180.66, moving -0.13% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Coming into today, shares of the oil company had gained 1.97% in the past month. In that same time, the Oils-Energy sector gained 5.68%, while the S&P 500 gained 4.06%.
Investors will be hoping for strength from Chevron as it approaches its next earnings release, which is expected to be January 27, 2023. On that day, Chevron is projected to report earnings of $4.27 per share, which would represent year-over-year growth of 66.8%. Meanwhile, our latest consensus estimate is calling for revenue of $53.55 billion, up 11.26% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Chevron. 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. 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 5.71% lower. Chevron is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Chevron is currently trading at a Forward P/E ratio of 11.53. This represents a premium compared to its industry's average Forward P/E of 5.37.
It is also worth noting that CVX currently has a PEG ratio of 0.81. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.73 based on yesterday's closing prices.
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The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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 report
Chevron Corporation (CVX) : Free Stock Analysis Report
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Zacks Investment Research |
NEWS_239 | Las Vegas Sands Corp. LVS is scheduled to report fourth-quarter 2022 results on Jan 25 2023, after the closing bell. In the previous quarter, the company reported a negative earnings surprise of 35%.
How Are Estimates Placed?
The Zacks Consensus Estimate for the fourth-quarter bottom line is pegged at a loss of 10 cents per share, indicating an improvement of 54.6% from a loss of 22 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $1.2 billion. The metric suggests an increase of 18% from the year-ago quarter’s figure.
Las Vegas Sands Corp. Price and EPS Surprise
Las Vegas Sands Corp. Price and EPS Surprise
Las Vegas Sands Corp. price-eps-surprise | Las Vegas Sands Corp. Quote
Let's look at how things have shaped up in the quarter.
Factors at Play
Las Vegas Sands’ fourth-quarter performance is likely to have benefited from the solid recovery in its Singapore business, strong customer demand for the gaming and retail perspective (in Macau) and sales-building initiatives. This and the emphasis on new project investments and revenue diversification efforts will likely have aided the company’s performance in the to-be-reported quarter.
Emphasis on increasing investments in the Singapore market bodes well. During the previous quarter, the company emphasized on its $1-billion capital investment program at Marina Bay Sands, thereby initiating new suite products in premium segment-focused amenities of the resort. The company reported a solid response with respect to the same. Also, it stated additional offerings, including spacious new suite products, are in the pipeline. Given the relaxation of virus-related restrictions in Singapore and other source markets coupled with the improvement in airlift activities, the recovery momentum is likely to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for fourth-quarter net revenues at Marine Bay Sands is pegged at $773 million, suggesting growth of 110% from the prior-year quarter’s figures.
Tighter travel restrictions, quarantine policies and suspension of ferry operations (between Macao and Hong Kong) are likely to have affected the company’s operations in the third quarter. Although sequential improvements in terms of visitation are likely, it is still expected to remain below pre-pandemic levels. The Zacks Consensus Estimate for fourth-quarter net revenues at Sand Cotai Central and Parisian Macao is pegged at $81 million and $27.2 million, suggesting a 41.7% and 59.4% decline, respectively, from the prior-year quarter’s figures. Net revenues at Venetian Macao are pegged at $116 million, indicating a decline of 57.4% from the prior-year quarter’s levels.
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What Our Model Says
Our proven model predicts an earnings beat for Las Vegas Sands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Las Vegas Sands has an Earnings ESP of +8.47%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Red Rock Resorts, Inc. RRR has an Earnings ESP of +17.33% and a Zacks Rank #3. Shares of Red Rock Resorts have declined 2.6% in the past year. RRR’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 66.7%.
Crocs, Inc. CROX has an Earnings ESP of +1.79% and a Zacks Rank #3. Shares of Crocs have gained 15.3% in the past year. CROX’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 18.2%.
Caesars Entertainment, Inc. CZR has an Earnings ESP of +5.69% and a Zacks Rank #3. Shares of Caesars Entertainment have declined 37.4% in the past year. CZR’s earnings surpassed estimates twice in the trailing four quarters and missed twice, the average surprise being negative 3.7%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report
Crocs, Inc. (CROX) : Free Stock Analysis Report
Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
Red Rock Resorts, Inc. (RRR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_240 | You may have heard of ChatGPT, the artificial intelligence-powered Chatbot recently released to the public by start-up OpenAI. In the wake of ChatGPT's release, college professors are now fearing the rise of AI-generated college essays, and software developers may fear the rise of ChatGPT's AI-generated coding capabilities. Microsoft (NASDAQ: MSFT) had already invested $1 billion in OpenAI back in 2019, and the cloud giant is now reportedly in talks to invest another $10 billion into the company, so it obviously sees big promise in this new, advanced AI engine. |
NEWS_241 | Motley Fool
Shares of Apple (NASDAQ: AAPL) were moving higher today after two analysts reiterated buy ratings on the FAANG stock with one noting that Apple seems likely to beat its own vague guidance due to the weakening dollar. In a note this morning, UBS analyst David Vogt maintained his buy rating and a price target of $180 on the stock, noting that his earlier decision to lower his estimates on supply chain issues didn't account for the weakening dollar, especially against currencies in Apple's top foreign markets like Europe, the U.K., China, and Japan. On its fiscal fourth-quarter earnings call, Apple had guided for a 10 percentage-point headwind in foreign currency, but Vogt believes the actual headwind will be four to five percentage points less than that. |
NEWS_242 | Shares of Tyson Foods Inc. Cl A TSN, +2.24% advanced 2.24% to $66.15 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Tyson Foods Inc. Cl A closed $34.57 short of its 52-week high ($100.72), which the company reached on February 8th.
The stock outperformed some of its competitors Monday, as Mondelez International Inc. Cl A MDLZ, +0.50% rose 0.50% to $64.36, Kraft Heinz Co. KHC, +0.95% rose 0.95% to $40.26, and Hormel Foods Corp. HRL, +0.16% rose 0.16% to $44.65. Trading volume (2.6 M) remained 481,093 below its 50-day average volume of 3.0 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_243 | Shares of Trane Technologies PLC TT, +0.63% inched 0.63% higher to $170.95 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Trane Technologies PLC closed $12.99 below its 52-week high ($183.94), which the company achieved on January 17th.
Trading volume (1.5 M) eclipsed its 50-day average volume of 1.2 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_244 | Featuring music megastar Bad Bunny Bonus Pack, enhanced gameplay, a unique twist on Showcase, all-new WarGames, advancements in MyGM and MyFACTION, and more
NEW YORK, January 23, 2023--(BUSINESS WIRE)--Today, 2K announced WWE® 2K23, the newest installment of the flagship WWE video game franchise developed by Visual Concepts, will be coming soon for PlayStation® 5 (PS5™), PlayStation®4 (PS4™), Xbox Series X|S, Xbox One, and PC via Steam. In celebration of his 20th anniversary as a WWE Superstar, 16-time World Champion, Hollywood icon, record-setting philanthropist, and WWE 2K23 Executive Soundtrack Producer, John Cena, will be featured on the cover of each edition of the game, striking three of his signature poses. Global music phenom Bad Bunny - Billboard's Top Artist of the Year and one of the most streamed artists in the world for 2022 - will also make his WWE 2K debut*.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230123005210/en/
Today, 2K announced WWE® 2K23, the newest installment of the flagship WWE video game franchise developed by Visual Concepts, will be coming soon for PlayStation® 5 (PS5™), PlayStation®4 (PS4™), Xbox Series X|S, Xbox One, and PC via Steam. In celebration of his 20th anniversary as a WWE Superstar, 16-time World Champion, Hollywood icon, record-setting philanthropist, and WWE 2K23 Executive Soundtrack Producer, John Cena, will be featured on the cover of each edition of the game, striking three of his signature poses. Global music phenom Bad Bunny - Billboard's Top Artist of the Year and one of the most streamed artists in the world for 2022 - will also make his WWE 2K debut. (Graphic: Business Wire)
WWE 2K23 features several franchise advancements, including a unique new take on the 2K Showcase, the WWE 2K introduction of the fan-favorite WarGames, and expansions to several marquee game modes. In addition, fans can also look forward to a deep roster of WWE Superstars and Legends including Roman Reigns, "American Nightmare" Cody Rhodes, Ronda Rousey, Brock Lesnar, "Stone Cold" Steve Austin, and more. Incredibly realistic graphics, animations, camera angles and lighting, plus accessible controls and a new optional pinning mechanic will add to the highly immersive experience. WWE 2K23 Deluxe Edition and Icon Edition are scheduled for worldwide release on Tuesday, March 14, 2023 via Early Access, followed by the Standard Edition and Cross-Gen on Friday, March 17, 2023.
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"It is a pleasure to tell the story of my career through the WWE 2K23 Showcase," said John Cena. "2K has done a fantastic job capturing and invigorating the WWE 2K franchise through this concept, and I am honored to grace the cover of WWE 2K23."
"Much like our cover Superstar John Cena, the Visual Concepts team didn’t back down from the challenge to prove that the quality of the WWE 2K franchise is here to stay," said Greg Thomas, President at Visual Concepts. "WWE 2K23 takes a winning formula and adds so much more. We’re especially excited to see how fans react to the 2K Showcase and WarGames."
WWE 2K23 features several hallmarks of the franchise, as well some new additions and twists on fan favorites:
2K Showcase Starring John Cena: Conquering John Cena in the ring is an accolade few Superstars can claim. In an unprecedented twist on the 2K Showcase, players will step into the boots of several of Cena’s toughest competitors with one goal in mind: defeat the man who will "Never Give Up." Spanning his 20-year WWE career and narrated by Cena himself, this interactive sports entertainment documentary uses 2K’s unique Slingshot Tech for a seamless transition from gameplay to live-action footage to bring pivotal moments in each match to life;
WarGames: The fan-favorite, chaotic and action-packed WarGames makes its debut in WWE 2K23 and delivers heart-pounding 3v3 and 4v4 single player or multiplayer mayhem inside two side-by-side rings, surrounded by a double-steel cage;
MyGM: Now featuring more GMs to choose from – or a player’s own custom GM creation – as well as additional show options, multiple seasons, expanded match cards, and more match types for up to four players. Players draft a roster, manage budgets, sign free agents, choose various match types, arena locations, production elements and more, with the goal of beating a rival GM in weekly ratings battles;
MyFACTION: Now featuring online multiplayer action, the team-building mode in which players collect, manage, and upgrade an array of WWE Superstars and Legends to create their ultimate four-person factions returns. Players can now take their faction online and compete for global dominance, or compete in Weekly Towers and Faction Wars, while new themed card packs and goals roll out regularly throughout the year**;
MyRISE: Aspiring Superstars walk through the curtain for their WWE debut in MyRISE and shape their career with the decisions made along the way. Featuring distinct men’s and women’s division storylines and the ability to import custom created Superstars, players journey from the humble beginnings of a Rookie, to being immortalized as a WWE Legend;
Universe: The ultimate WWE Universe sandbox that puts players in charge of their own version of WWE, from Superstar rosters, feuds, champions, weekly shows, and Premium Live Events! Updates to Universe include a reworked story system and more;
Creation Suite: A signature feature of the WWE 2K franchise, the creation suite returns with cross-platform community creations, including the ability to design custom Superstars, GMs, arenas, entrances, move sets, championships and more. Custom arenas are now playable online, and advanced customization has been added to created entrances.
WWE 2K23 Editions and Pre-Order Bonus
WWE 2K23 features four editions of the game: Standard Edition, Cross-Gen, Deluxe Edition, and Icon Edition:
The Standard Edition will be available for $59.99 on previous-gen platforms (PS4, Xbox One consoles) and PC and for $69.99 on current-gen consoles (PS5 and Xbox Series X|S) in both physical and digital formats;
The Cross-Gen edition will be available digitally for $69.99 on PlayStation and Xbox consoles. The Cross-Gen edition includes the Standard Edition across previous and current-gen platforms within the same console family and the same PlayStation or Xbox account***;
The Deluxe Edition will be available for $99.99 for PS4, PS5, Xbox Series X|S, and Xbox One in both physical and digital formats, and on PC in digital format. The Deluxe Edition includes the Standard Edition, Bad Bunny Bonus Pack, plus a Season Pass to all five post-launch DLC content packs****; the MyRISE Mega-Boost and SuperCharger; Ruby John Cena MyFACTION Evo Card, Gold Edge MyFACTION Card, Emerald Bianca Belair MyFACTION Card, Gold Asuka MyFACTION Card, and three Basic Premium Launch MyFACTION Card Packs. The Deluxe Edition will be available from March 14, 2023 – three days ahead of Standard and Cross-Gen Editions!*****;
The Icon Edition will be available for $119.99 for PS4, PS5, Xbox Series X|S, Xbox One, and PC, featuring original cover art by renowned WWE-inspired artist Rob Schamberger. In addition to the Standard Edition and all bonus content included in the Deluxe Edition, the Icon Edition includes the Ruthless Aggression Pack, celebrating 20 years of John Cena’s WWE career by featuring John Cena’s early "Prototype" character, as well as "Leviathan" Batista, developmental rookie versions of Brock Lesnar and Randy Orton, the John Cena Legacy Championship and WrestleMania 22 Arena. Additional bonus content includes an Emerald Paul Heyman MyFACTION Manager Card, and three Deluxe Premium Launch MyFACTION Card Packs. The Icon Edition will be available from March 14, 2023 – three days ahead of Standard and Cross-Gen Editions!*****;
Bad Bunny Bonus Pack Pre-Order Offer: Players who pre-ordered the Standard Edition and Cross-Gen Digital Bundle will receive the Bad Bunny Bonus Pack, which includes Bad Bunny as a playable character, as well as a Ruby tier Bad Bunny MyFACTION card.* The Bad Bunny Bonus Pack is included in the Deluxe Edition and Icon Edition at launch.
Tune-in tonight to Monday Night Raw for the world premiere of the Even Stronger Showcase trailer, including more information and a look at WWE 2K23 gameplay.
For more information on WWE 2K23, visit the game’s official website, become a fan on Facebook, follow the game on TikTok, Twitter, Instagram, and subscribe on YouTube. Official campaign hashtags #WWE2K23 and #EvenStronger.
Visual Concepts is a 2K studio. 2K is a wholly owned publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO).
* Bad Bunny Bonus Pack Pre-Order Bonus Offer: *Pre-order bonus offer available through March 16, 2023 for orders of WWE 2K23 Standard Edition and Cross Gen Digital Edition. Offer is for one (1) Bad Bunny Bonus Pack, which includes playable Bad Bunny character and Ruby tier MyFACTION card. Bad Bunny Bonus Pack is included with the Deluxe and Icon Editions. For digital pre-orders, items will be automatically entitled on March 17, 2023. For physical pre-orders, items will be redeemed in game via code provided in box. Terms apply.
**WWE 2K23 and internet access required to play MyFACTION content. Online Account (13+) required to access online features. See www.take2games.com/legal and www.take2games.com/privacy for additional details.
***PlayStation 5 console required to play PS5 version. PlayStation 4 console required to play PS4 version. Xbox Series X|S console required to play Xbox Series X|S version. Xbox One console required to redeem and use Xbox One version.
**** For digital orders, post-launch DLC will be automatically delivered on release for PC users, available for download in the PlayStation store/Library tile for PS4 and PS5 users, and available for download in the Microsoft Store for Xbox users. For physical orders, post-launch DLC will be available upon release and redeemed in game via code provided in box. DLC will also be available for purchase separately
About 2K
Founded in 2005, 2K develops and publishes interactive entertainment for video game consoles, personal computers, and mobile devices, with product availability including physical retail and digital download. The Company is home to many talented development studios, including Visual Concepts, Firaxis Games, Hangar 13, Cat Daddy Games, 31st Union, Cloud Chamber and HB Studios. 2K’s portfolio currently includes several AAA, sports and entertainment brands, including global powerhouse NBA® 2K; renowned BioShock®, Borderlands®, Mafia, Sid Meier’s Civilization® and XCOM® brands; popular WWE® 2K and WWE® SuperCard franchises; as well as the critically and commercially acclaimed PGA TOUR® 2K. Additional information about 2K and its products may be found at 2K.com and on the Company’s official social media channels.
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products principally through Rockstar Games, 2K, Private Division, and Zynga. Our products are currently designed for console gaming systems, PC, and Mobile including smartphones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO.
All trademarks and copyrights contained herein are the property of their respective holders.
Cautionary Note Regarding Forward-Looking Statements
Statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "should," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: risks relating to our combination with Zynga; the uncertainty of the impact of the COVID-19 pandemic and measures taken in response thereto; the effect that measures taken to mitigate the COVID-19 pandemic have on our operations, including our ability to timely deliver our titles and other products, and on the operations of our counterparties, including retailers and distributors; the effects of the COVID-19 pandemic on both consumer demand and the discretionary spending patterns of our customers as the situation with the pandemic continues to evolve; the risks of conducting business internationally; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; the timely release and significant market acceptance of our games; the ability to maintain acceptable pricing levels on our games; and risks associated with international operations.
Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005210/en/
Contacts
Al Stavola
2K
(415) 483-8453
[email protected]
Nathan Rillo
FINN Partners for 2K
(310) 552-4145
[email protected]
Alan Lewis (Corporate Press)
Take-Two Interactive Software, Inc.
(646) 536-2983
[email protected]
Greg Domino
WWE
(973) 620-1025
[email protected] |
NEWS_245 | Shares of Take-Two Interactive Software Inc. TTWO, +3.82% rose 3.82% to $110.67 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Take-Two Interactive Software Inc. closed $67.84 below its 52-week high ($178.50), which the company reached on February 8th.
Trading volume (1.9 M) remained 393,324 below its 50-day average volume of 2.3 M. |
NEWS_246 | Shares of Dominion Energy Inc. D, +0.88% inched 0.88% higher to $62.97 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's third consecutive day of gains. Dominion Energy Inc. closed $25.81 short of its 52-week high ($88.78), which the company achieved on April 11th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as NextEra Energy Inc. NEE, +1.04% rose 1.04% to $82.67, Duke Energy Corp. DUK, -0.82% fell 0.82% to $100.99, and Southern Co. SO, -0.39% fell 0.39% to $66.86. Trading volume (4.0 M) remained 2.0 million below its 50-day average volume of 6.0 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_247 | Shares of Delta Air Lines Inc. DAL, +0.13% inched 0.13% higher to $39.08 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Delta Air Lines Inc. closed $7.19 below its 52-week high ($46.27), which the company reached on April 21st.
The stock outperformed some of its competitors Monday, as Southwest Airlines Co. LUV, -1.00% fell 1.00% to $36.69, United Airlines Holdings Inc. UAL, -0.36% fell 0.36% to $49.28, and American Airlines Group Inc. AAL, -1.04% fell 1.04% to $16.17. Trading volume (12.4 M) eclipsed its 50-day average volume of 10.0 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_248 | bhofack2 / Getty Images/iStockphoto
Airline passengers who’ve been craving a treat while flying at 35,000 feet can breathe a sweet sigh of relief. Both United Airlines and Delta Air Lines have announced the return of desserts to certain flights, but only for premium-class customers.
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With flight delays and cancellations hogging the air travel headlines of late, airlines are starting to reintroduce luxuries that were shelved during the pandemic.
As Condé Nast Traveler reported, United has announced the return of its famous build-your-own-sundae cart after suspending the service at the start of the COVID-19 pandemic in 2020. For passengers travelling in its business class cabin, Polaris, customizable concoctions will be rolled out by attendants at the end of its three-course dinner service.
United’s sundae staple has already returned to select routes launching out of San Francisco International Airport, but the service will be reinstated on all long-haul international flights in February, per CNN Travel.
Delta Dessert Cart Also Makes a Return
According to Simple Flying, Delta has revamped its onboard food and beverage offerings — including regionally-inspired menus and the homecoming of its own popular dessert cart — for its First Class and Delta One passengers.
“Your onboard meal or beverage should be no different than your go-to restaurant at home, and that’s why we’re constantly reinventing our onboard service at Delta — we always want to surprise and delight our customers with seasonal and fresh menu options,” said Kristen Manion Taylor, Delta’s senior vice president of in-flight service, in a press statement.
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The passenger perks come at a time when airlines are expanding premium seat service, restoring suspended routes and improving fleets in a strong push to attract customers during this period of pandemic recovery. As CNN noted, domestic travel has rebounded nicely, but international travel remains sluggish.
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More From GOBankingRates
This article originally appeared on GOBankingRates.com: Delta and United Bring Back Dessert — But Only to These Passengers |
NEWS_249 | (Bloomberg) -- Boeing Co.’s rainmaker in Washington, a former auto lobbyist who goes by the nickname “Z,” is restoring some of the swagger that once made the aerospace giant a force on Capitol Hill.
A badly needed legislative victory in late December let Boeing continue plans for its cash-cow 737 Max over the protests of family members of victims of two fatal crashes. Now Ziad Ojakli, 55, has his sights set on the White House, where Boeing needs support to re-establish sales of the plane in China.
Reopening China and restoring the aviation giant’s political clout would help cement a turnaround under Boeing Chief Executive Officer Dave Calhoun after years in the DC doghouse. The planemaker shifted its headquarters within eyeshot of the Pentagon last year, citing a need to foster better relations with the US government. Boeing has stumbled badly on defense contracts as well as with commercial aviation regulators, and its executives endured a bipartisan shellacking on Capitol Hill over the Max crashes in 2018 and 2019.
“Everything legislatively was easier before the two crashes and pandemic,” said Loren Thompson, a defense consultant executive and long-time DC observer. “In terms of their business, this is doubly important to Boeing right now because it has lost ground to Airbus on the commercial side and its defense operations are performing weakly.”
Ojakli has faced a steep learning curve since joining Boeing in October 2021 as executive vice-president of government operations. The aviation titan’s political sway has been dented from years of internal and external turmoil. And its famously plugged-in DC operations were hamstrung by a wave of departures soon after he arrived.
He’s filled several dozen empty posts and worked his connections from previous jobs leading government affairs for Ford Motor Co. and SoftBank Group Corp. Less than a year after joining Boeing, Ojakli was ranked as one of Washington’s top corporate lobbyists for 2022 by The Hill, a Beltway trade publication. He’s prominent in civic circles, serving as chairman of the board for National Zoo.
Those who know Ojakli say he’s congenial, the kind of person who’s quick to throw an arm around people he knows. But he keeps a low profile in the media and declined a request for an interview. A former boss, retired Ford CEO Alan Mulally, praises his “positive find-a-way mindset.”
The consummate Beltway insider discussed his philosophy for winning friends in high places in a 2013 interview conducted as part of the Presidential Oral History Program by the Miller Center at the University of Virginia.
“You try to get inside the head of, say, the senator, walk a mile in their shoes,” Ojakli was quoted as saying in the transcript. “You have to be there over time and become the trusted source. You have to give the senator or congressman both sides of the issue.”
Promising Sign
For the first time in years, Boeing has a chance to make headway on Max sales and deliveries to China as the two superpowers search for common ground. US Secretary of State Antony Blinken is planning to visit Beijing early next month, potentially followed by Chinese President Xi Jinping traveling to the US in November to attend an APEC leaders summit. In one promising sign, a state-controlled Chinese airline flew a 737 Max passenger jet on Jan. 13 — the first such flight by a domestic airline in nearly four years.
While the company has the attention of senior White House officials as one of the largest US exporters, its concerns in China compete with President Joe Biden’s other priorities, like tensions over Taiwan and steps to disentangle the world’s two largest economies.
“Boeing is a very important stakeholder. But Boeing on its own doesn’t determine our trade policy,” US Trade Representative Katherine Tai told Bloomberg in October.
China’s tilt to Airbus SE in recent years has been costly for the US titan, which delivered just eight planes to the Asian nation last year compared to 117 for its European rival. In US-China talks, Biden’s team has tended to focus on Chinese economic practices that disadvantage many American companies, rather than pressing for specific concessions for Boeing.
But that could be changing. Behind the scenes, senior Boeing executives talk regularly with White House Chief of Staff Ron Klain and have found Commerce Secretary Gina Raimondo sympathetic on trade issues, said two people familiar with the matter. Boeing CEO Calhoun and his wife were invited to Biden’s first state dinner in December.
Those kinds of relationships could provide critical for a breakthrough on China, which will need to stock up on Boeing’s 737s to meet a post-lockdown surge in travel, predicts aviation consultant Richard Aboulafia. The planemaker’s prospects in its largest overseas market will be a focal point for investors on Jan. 25 when it reports earnings.
Decades of Experience
The lobbyist’s ties to Washington date back decades to his years at Georgetown University, from which the Brooklyn native graduated with a degree in American government studies in 1989. He learned how political deals came together as an aide to several Republican lawmakers, and later corralled Senate votes for the White House during former President George W. Bush’s first term in office.
At Boeing, Ojakli followed in the wake of Tim Keating, a former White House aide to Democratic President Bill Clinton who commanded influence on Capitol Hill and within Boeing. Longtime hands were shocked by Keating’s abrupt exit in June 2021 — so swift that the 13-year veteran didn’t have time for farewells. Several of his top deputies followed soon thereafter, notably four senior lobbyists who jumped to defense contractor Raytheon Technologies Corp.
Ojakli has tapped contacts from the auto industry and government to rebuild Boeing’s lobbying chops, including Nicole Nason, a former administrator with the Federal Highway Administration. She oversees legislative strategy for commercial aviation.
He also borrowed a management tool from his years at Ford: Every Monday afternoon Ojakli hosts sessions similar to the business plan reviews that were a hallmark of Mulally, the former Boeing commercial chief who later ran the automaker. Progress on strategic priorities is coded with stop-light colors to show varying levels of urgency, according to people familiar with the matter.
A Staunch Critic
In convincing lawmakers to exempt the final two Max models from a late 2022 deadline, the chief lobbyist’s task was “hugely complicated,” Aboulafia said. He faced a widespread perception Boeing was too cozy with regulators and opposition from the likes of Representative Peter DeFazio. The Oregon Democrat was such a staunch critic of Boeing that a portrait commissioned ahead of his 2022 retirement included a copy of the scathing report from an investigation that he’d led into the Max crashes.
Boeing would not comment on its lobbying campaign for the extension.
The Max measure had stalled in earlier attempts, but top congressional leaders tucked it into a late-year spending bill after a nudge from the White House, said a person familiar with the actions. A close reading of a 2020 law mandating flight-deck changes in the Max certified after Dec. 27 showed it likely wouldn’t have required the sweeping redesign sought by DeFazio and the crash victims’ families, said the person.
That made it harder to argue the provision was a safety game changer, but not to the liking of all.
“This change in the law was without hearings or data, and was a dark of night move by the swamp,” said Michael Stumo, whose daughter perished in a Max accident in Ethiopia. “A crash every three years is possible if the historic pattern continues,” he added.
A late lobbying push from Boeing’s two largest unions was also crucial. In December letters to Biden and other key Democrats, labor leaders endorsed a compromise drafted by Washington Senator Maria Cantwell that required other safety enhancements be made to all Max models.
“We did make sure that the White House is aware and understands why this is significant not just for our members, but the national economy,” said Faraz Khan, legislative director for a union representing Boeing’s engineers.
For Ojakli and Boeing, it could represent a turning point in DC — or what he called “the law of averages” in the oral history interview.
“You kept being respectful and listening to them and to their concerns and at some point you might get lucky.”
--With assistance from Jenny Leonard, Alan Levin and Keith Naughton.
©2023 Bloomberg L.P. |
NEWS_250 | Shares of TherapeuticsMD Inc. TXMD, -3.10% shed 3.10% to $5.32 Monday, on what proved to be an all-around favorable trading session for the stock market, with the NASDAQ Composite Index COMP, +2.01% rising 2.01% to 11,364.41 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. TherapeuticsMD Inc. closed $17.68 short of its 52-week high ($23.00), which the company achieved on March 23rd.
The stock underperformed when compared to some of its competitors Monday, as AbbVie Inc. ABBV, -0.70% fell 0.70% to $148.55, Pfizer Inc. PFE, -0.29% fell 0.29% to $44.98, and Agile Therapeutics Inc. AGRX, +5.86% rose 5.86% to $0.30. Trading volume (53,486) remained 106,494 below its 50-day average volume of 159,980. |
NEWS_251 | Shares of Texas Instruments Inc. TXN, +2.99% rose 2.99% to $178.17 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Texas Instruments Inc. closed $13.17 short of its 52-week high ($191.34), which the company achieved on March 29th.
The stock underperformed when compared to some of its competitors Monday, as NVIDIA Corp. NVDA, +7.59% rose 7.59% to $191.93. Trading volume (7.8 M) eclipsed its 50-day average volume of 5.2 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_252 | Most readers would already know that Textron's (NYSE:TXT) stock increased by 5.4% over the past three months. As most would know, long-term fundamentals have a strong correlation with market price movements, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. In this article, we decided to focus on Textron's ROE.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
View our latest analysis for Textron
How Is ROE Calculated?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Textron is:
12% = US$843m ÷ US$6.8b (Based on the trailing twelve months to October 2022).
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.12.
What Is The Relationship Between ROE And Earnings Growth?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
Textron's Earnings Growth And 12% ROE
To start with, Textron's ROE looks acceptable. On comparing with the average industry ROE of 10% the company's ROE looks pretty remarkable. Given the circumstances, we can't help but wonder why Textron saw little to no growth in the past five years. Therefore, there could be some other aspects that could potentially be preventing the company from growing. These include low earnings retention or poor allocation of capital.
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We then compared Textron's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 7.4% in the same period, which is a bit concerning.
Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is TXT fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is Textron Efficiently Re-investing Its Profits?
Textron's low three-year median payout ratio of 2.5% (implying that the company keeps98% of its income) should mean that the company is retaining most of its earnings to fuel its growth and this should be reflected in its growth number, but that's not the case.
Moreover, Textron has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 1.6% over the next three years. Despite the lower expected payout ratio, the company's ROE is not expected to change by much.
Conclusion
On the whole, we do feel that Textron has some positive attributes. Yet, the low earnings growth is a bit concerning, especially given that the company has a high rate of return and is reinvesting ma huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_253 | Shares of Textron Inc. TXT, +1.67% rallied 1.67% to $68.98 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Textron Inc. closed $7.13 below its 52-week high ($76.11), which the company reached on March 30th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Honeywell International Inc. HON, +1.20% rose 1.20% to $204.46, Raytheon Technologies Corp. RTX, +2.00% rose 2.00% to $96.25, and Boeing Co. BA, +1.55% rose 1.55% to $209.97. Trading volume (1.3 M) remained 55,366 below its 50-day average volume of 1.3 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_254 | TE Connectivity Ltd. TEL is scheduled to report first-quarter fiscal 2023 results on Jan 25.
For the fiscal first quarter, TEL expects net sales of $3.75 billion, suggesting 2% and 9% growth on a reported and organic basis, respectively, from the corresponding year-ago fiscal quarter’s readings. The Zacks Consensus Estimate for the same is pegged at $3.76 billion, suggesting a decline of 1.6% from the year-ago fiscal quarter’s reported figure.
TE Connectivity expects adjusted earnings of $1.50 per share. The Zacks Consensus Estimate for the same is also pegged at $1.51 per share, indicating a fall of 14.2% from the year-ago quarter’s reported figure.
TE Connectivity’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 5.33%.
TE Connectivity Ltd. Price and EPS Surprise
TE Connectivity Ltd. Price and EPS Surprise
TE Connectivity Ltd. price-eps-surprise | TE Connectivity Ltd. Quote
Key Factors to Note
The impacts of TE Connectivity’s footprint-consolidation plans, stringent cost-cutting strategies and growing momentum across industrial, communications and transportation segments are expected to get reflected in the quarterly results.
Strong momentum across factory automation applications is expected to have driven growth in the company’s industrial equipment sales in the fiscal third quarter. Strength across renewable energy applications is anticipated to have aided the energy business. Solid momentum among interventional procedures is likely to have driven its medical sales growth. These factors are expected to have benefited the industrial segment in the quarter under discussion.
In the communication segment, strengthening momentum across data and devices is anticipated to have acted as a tailwind in the quarter under review. The growing traction across high-speed solutions for cloud applications is likely to have been another key catalyst.
However, weakening momentum across the appliance business might have been a concern.
Increasing overall auto production, along with the growing production of hybrid and electric vehicles, is likely to have contributed well to the sales growth of the company’s transportation segment in the to-be-reported quarter. Solid content growth is expected to have driven commercial transportation sales growth in the quarter under review.
However, sluggish demand for sensors is likely to have been a headwind for the transportation segment. Supply-chain disruptions induced by the ongoing pandemic are expected to be reflected in the to-be-reported quarterly results.
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What Our Model Says
Our proven model does not conclusively predict an earnings beat for TE Connectivity this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
TE Connectivity has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are some stocks that you may consider, as our model shows that they have the right combination of elements to beat on earnings this season.
MSCI MSCI has an Earnings ESP of +0.43% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
MSCI is scheduled to release fourth-quarter 2022 results on Jan 31. The Zacks Consensus Estimate for MSCI’s earnings is pegged at $2.71 per share, suggesting an increase of 7.97% from the prior-year quarter’s reported figure.
Endava DAVA has an Earnings ESP of +1.97% and a Zacks Rank #3 at present.
Endava is set to report second-quarter fiscal 2023 results on Feb 15. The Zacks Consensus Estimate for DAVA’s earnings is pegged at 68 cents per share, suggesting an increase of 7.94% from the prior-year fiscal period’s reported figure.
Analog Devices ADI has an Earnings ESP of +2.99% and a Zacks Rank #3 at present.
Analog Devices is scheduled to release first-quarter fiscal 2023 results on Feb 15. The Zacks Consensus Estimate for ADI’s earnings is pegged at $2.59 per share, suggesting an increase of 33.5% from the prior-year fiscal quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Zacks Investment Research |
NEWS_255 | Shares of United Airlines Holdings Inc. UAL, -0.36% dropped 0.36% to $49.28 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. United Airlines Holdings Inc. closed $3.98 short of its 52-week high ($53.26), which the company reached on January 18th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Southwest Airlines Co. LUV, -1.00% fell 1.00% to $36.69, Delta Air Lines Inc. DAL, +0.13% rose 0.13% to $39.08, and American Airlines Group Inc. AAL, -1.04% fell 1.04% to $16.17. Trading volume (7.4 M) remained 1.3 million below its 50-day average volume of 8.7 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_256 | Shares of Uber Technologies Inc. UBER, +0.56% inched 0.56% higher to $30.53 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index COMP, +2.01% rising 2.01% to 11,364.41 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's third consecutive day of gains. Uber Technologies Inc. closed $12.03 below its 52-week high ($42.56), which the company reached on February 10th.
Trading volume (22.0 M) eclipsed its 50-day average volume of 20.2 M. |
NEWS_257 | Uber Technologies (UBER) closed the most recent trading day at $30.53, moving +0.56% from the previous trading session. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the ride-hailing company had gained 23.21% over the past month. This has outpaced the Computer and Technology sector's gain of 8.49% and the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be February 8, 2023. In that report, analysts expect Uber Technologies to post earnings of -$0.20 per share. This would mark a year-over-year decline of 145.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.47 billion, up 46.52% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Uber Technologies. 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.
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.
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 36.35% lower. Uber Technologies is holding a Zacks Rank of #4 (Sell) right now.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
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The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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NEWS_258 | DCP Midstream Partners, LP (DCP) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, DCP Midstream Partners, LP (DCP) closed at $42.04, marking a -0.1% move from the previous day. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.29%.
Coming into today, shares of the company had gained 8.71% in the past month. In that same time, the Oils-Energy sector gained 5.68%, while the S&P 500 gained 4.06%.
Wall Street will be looking for positivity from DCP Midstream Partners, LP as it approaches its next earnings report date. In that report, analysts expect DCP Midstream Partners, LP to post earnings of $1.06 per share. This would mark year-over-year growth of 27.71%. Meanwhile, our latest consensus estimate is calling for revenue of $2.03 billion, down 41.69% from the prior-year quarter.
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Any recent changes to analyst estimates for DCP Midstream Partners, LP should also be noted by investors. 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. DCP Midstream Partners, LP currently has a Zacks Rank of #3 (Hold).
Investors should also note DCP Midstream Partners, LP's current valuation metrics, including its Forward P/E ratio of 8.51. This valuation marks a discount compared to its industry's average Forward P/E of 16.23.
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The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 158, 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.
To follow DCP in the coming trading sessions, be sure to utilize Zacks.com.
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DCP Midstream Partners, LP (DCP) : Free Stock Analysis Report
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NEWS_259 | GOLETA, Calif. , Jan. 23, 2023 /PRNewswire/ -- Deckers Brands (NYSE:DECK), a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, today announced that the Company's conference call to review third quarter fiscal 2023 results will be on Thursday, February 2, 2023 at approximately 4:30 pm Eastern Time. The broadcast will be hosted at ir.deckers.com. The broadcast will be available for at least 30 days following the conference call.
About Deckers Brands
Deckers Brands is a global leader in designing, marketing and distributing innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities. The Company's portfolio of brands includes UGG®, KOOLABURRA®, HOKA®, Teva®, and Sanuk®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, Company-owned and operated retail stores, and select online stores, including Company-owned websites. Deckers Brands has 50 years of history building niche footwear brands into lifestyle market leaders attracting millions of loyal consumers globally. For more information, please visit www.deckers.com.
Deckers Brands Logo (PRNewsfoto/Deckers Brands)
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SOURCE Deckers Brands |
NEWS_260 | By Dominic Chopping
Denmark's Sydbank AS on Monday said that it expects a higher profit after tax in 2023, with both core income and costs edging up.
The bank outlined 2023 guidance, expecting profit after tax of between 1.9 billion and 2.2 billion Danish kroner ($277.2 million-$321.0 million). Sydbank has guided for 2022 profit after tax of DKK1.85 billion to DKK1.95 billion.
The bank said the expectation is based on the projected negative growth in the Danish economy, with core income expected to be higher than in 2022 and costs seen higher than in 2022.
Impairment charges are expected to represent a minor expense, while nonrecurring costs are expected to be between DKK50 million and DKK60 million, it added.
Sydbank said the guidance is subject to uncertainty and depends on financial market developments and macroeconomic factors which can affect the level of impairment charges.
The bank will release its full-year 2022 earnings report on March 1.
Write to Dominic Chopping at [email protected]
By Dominic Chopping
Denmark's Sydbank AS on Monday said that it expects a higher profit after tax in 2023, with both core income and costs edging up.
The bank outlined 2023 guidance, expecting profit after tax of between 1.9 billion and 2.2 billion Danish kroner ($277.2 million-$321.0 million). Sydbank has guided for 2022 profit after tax of DKK1.85 billion to DKK1.95 billion.
The bank said the expectation is based on the projected negative growth in the Danish economy, with core income expected to be higher than in 2022 and costs seen higher than in 2022.
Impairment charges are expected to represent a minor expense, while nonrecurring costs are expected to be between DKK50 million and DKK60 million, it added.
Sydbank said the guidance is subject to uncertainty and depends on financial market developments and macroeconomic factors which can affect the level of impairment charges.
The bank will release its full-year 2022 earnings report on March 1.
Write to Dominic Chopping at [email protected] |
NEWS_261 | Denny's Corporation
SPARTANBURG, S.C., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Denny’s Corporation (the "Company") (NASDAQ: DENN), owner and operator of Denny's Inc. ("Denny's") and Keke's Inc. ("Keke's"), will announce financial and operating results for its fourth quarter and full year ended December 28, 2022, on Monday, February 13, 2023, after the markets close. Senior management will hold a conference call on the same day at 4:30 p.m. Eastern Time to discuss these results and answer questions.
Interested parties are invited to listen to a live broadcast of the conference call accessible through the Investor Relations section of the Company’s website at investor.dennys.com.
For any questions, please contact the Company’s Investor Relations Department at 877-784-7167.
About Denny’s Corporation
Denny’s Corporation is one of America’s largest full-service restaurant chains based on number of restaurants. As of December 28, 2022, the Company consisted of 1,656 restaurants, 1,582 of which were franchised and licensed restaurants and 74 of which were company operated.
Denny's Corporation consists of the Denny’s brand and the Keke’s brand. As of December 28, 2022, the Denny's brand consisted of 1,602 global restaurants, 1,536 of which were franchised and licensed restaurants and 66 of which were company operated. As of December 28, 2022, the Keke's brand consisted of 54 restaurants, 46 of which were franchised restaurants and 8 of which were company operated.
For further information on Denny's Corporation, including news releases, links to SEC filings, and other financial information, please visit investor.dennys.com .
CONTACT: Investor Contact: Curt Nichols 877-784-7167 Media Contact: Hadas Streit, Allison+Partners 646-428-0629
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NEWS_262 | RIVERWOODS, Ill., January 23, 2023--(BUSINESS WIRE)--John Greene, executive vice president and chief financial officer of Discover, will present at the Credit Suisse Financial Services Forum on Tuesday, February 14, 2023, at 10:15 a.m. ET.
A link to the live webcast will be posted on the day of the conference to Discover's Investor Relations website at http://investorrelations.discover.com. A replay will be available for 90 days after the conference at the same website address.
About Discover
Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover® card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network® comprised of Discover Network, with millions of merchants and cash access locations; PULSE®, one of the nation's leading ATM/debit networks; and Diners Club International®, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005123/en/
Contacts
Investor Contact:
Eric Wasserstrom
Investor Relations
224-405-4555
[email protected]
Media Contact:
Matthew Towson
Public Relations
224-405-5649
[email protected] |
NEWS_263 | Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at UBS (UBS), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. UBS currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for UBS that show why this bank shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For UBS, shares are up 4.47% over the past week while the Zacks Banks - Foreign industry is up 2.96% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 15.12% compares favorably with the industry's 9.4% performance as well.
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Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of UBS have increased 32.81% over the past quarter, and have gained 10.49% in the last year. In comparison, the S&P 500 has only moved 8.85% and -9.95%, respectively.
Investors should also take note of UBS's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, UBS is averaging 1,712,911 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with UBS.
Over the past two months, 1 earnings estimate moved higher compared to 1 lower for the full year. These revisions helped boost UBS's consensus estimate, increasing from $2.14 to $2.15 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that UBS is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep UBS on your short list.
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UBS Group AG (UBS) : Free Stock Analysis Report
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NEWS_264 | BELLEVUE, Wash., January 23, 2023--(BUSINESS WIRE)--UBS Private Wealth Management announced today that The Matthews Group, an advisor team in the firm’s Bellevue, WA branch office, has been ranked the top team in Washington on the Forbes Best-In-State Wealth Management Teams list for 2023.
The team was also named to the Forbes America’s Top Wealth Management Teams, Private Wealth list for 2022, as the only advisor team in Washington state named to the list.
"This recognition highlights The Matthews Group’s ability to effectively leverage their diverse expertise alongside the full breadth of UBS’s capabilities for the benefit of their ultra-high net worth clients," said John Mathews, Divisional Director and Head of UBS Private Wealth Management. "The team’s dedication to client success makes a lasting difference in their lives, helping them achieve their individual needs and goals."
The 19-member team, led by partners Michael Matthews, Tyler Matthews and Melanie Matthews, is responsible for managing $2 billion in investable client assets. Together, they bring a multi-disciplinary approach to delivering holistic advice to ultra-high net worth individuals, business owners, entrepreneurs and multi-generational families. The team is known for taking a detailed and highly customized approach, leveraging the resources of UBS's global footprint to help clients thrive financially so they can make their mark on the world.
The inaugural 2023 Forbes/SHOOK Best-In-State Wealth Management Teams list features more than 2,800 teams with cumulative assets of roughly $4 trillion. For the full list and further information, please visit: https://www.forbes.com/lists/wealth-management-teams-best-in-state/
The inaugural 2022 Forbes/Shook Top Wealth Management Teams Private Wealth list has 100 teams with cumulative assets of $902 billion. For the full list and further information, please visit: https://www.forbes.com/lists/top-wealth-management-teams-private-wealth/
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The rankings, developed by SHOOK Research, is based on an algorithm of quantitative and qualitative criteria, including telephone, virtual and in-person interviews.
Notes to Editors
About UBS
UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as to private clients in Switzerland. UBS offers investment solutions, products and impactful thought leadership, is the leading global wealth manager, provides large-scale and diversified asset management, focused investment banking capabilities, and personal and corporate banking services in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 29% in Switzerland, 20% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
© UBS 2023. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS. Neither UBS Financial Services Inc. or its employees pay a fee in exchange for these ratings. Past performance is not an indication of future results. For press use only.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005143/en/
Contacts
Media Contact:
Christina Aquilina
[email protected]
https://www.ubs.com |
NEWS_265 | With the price of eggs making recent headlines for their meteoric price hikes (the cost of a dozen eggs was up 59.9% in Dec. 2022) due to an avian flu, among other contributing factors, it's safe to say food doesn't cost what it used to. In fact, a recent report found grocery prices haven't spiked this high since the 1980s, when inflation was at record highs. For many people who are already feeling the pinch of a cooling labor market and rising interest rates, a rise in the grocery budget is simply out of the question -- which is why a new type of budget retailer is rapidly gaining market share. |
NEWS_266 | Donegal Group, Inc.
MARIETTA, Pa., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Donegal Group Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB) announced today that it plans to release its results for fourth quarter and full-year ended December 31, 2022 on Thursday, February 23, 2023, before the opening of regular trading on the NASDAQ Stock Market. The Company will provide a supplemental investor presentation in the Investors section of its website at investors.donegalgroup.com, concurrently with its earnings press release.
At approximately 8:30 am ET on Thursday, February 23, 2023, the Company will make available in the Investors section of its website a pre-recorded audio webcast featuring management commentary by Kevin Burke, President and Chief Executive Officer; Jeffrey Miller, Executive Vice President and Chief Financial Officer; and select members of the senior management team. A pre-recorded question and answer session will follow formal remarks by management. Questions for consideration should be submitted via e-mail to [email protected] by 5:00 pm ET on Thursday, February 16, 2023.
About Donegal Group Inc.
Donegal Group Inc. is an insurance holding company whose insurance subsidiaries and affiliates offer commercial and personal property and casualty lines of insurance in 24 Mid-Atlantic, Midwestern, New England, Southern and Southwestern states. Donegal Mutual Insurance Company and its insurance subsidiaries conduct business together with the insurance subsidiaries of Donegal Group Inc. as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent).
The Class A common stock and Class B common stock of Donegal Group Inc. trade on the NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively. The Company is focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing its operations and processes to transform its business, capitalizing on opportunities to grow profitably and delivering a superior experience to its agents and customers.
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Investor Relations Contact
Karin Daly
Vice President, The Equity Group Inc.
Phone: (212) 836-9623
E-mail: [email protected]
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NEWS_267 | Expanding High-Grade Footprint: UEC intersects additional high-grade uranium mineralization with CB-178-1, its first drill hole in the 2023 Sakura Zone drill program at the Christie Lake Project ("the Project"). This intersection expands the footprint of the high-grade mineralization at the new zone, first reported in October last year, CB-178-1 is approximately 10 m from CB-176A that graded 68.7% eU 3 O 8 over 2.1 m.
Premier Location: Christie Lake is nine km northeast of McArthur River, the world's largest high-grade uranium mine, and along the same geological trend (see Figures 1 & 2). The Sakura Zone, discovered in August 2022, is along the Yalowega mineralized corridor (see Figures 3 & 4).
Infrastructure Advantage: The Project straddles the Eastern Athabasca High Grade Uranium Corridor, representing a 19,576 acre land package situated between the two world class uranium operations at McArthur River and Cigar Lake.
Synergies with Roughrider Project: Christie Lake is one of the key projects in UEC's Eastern Athabasca Hub strategy and the company is considering the synergies between this project and the Roughrider and Horseshoe-Raven Projects.
Ongoing Exploration: These intercepts represent the first results of the 3-month winter campaign. More holes are anticipated to be reported over the winter, leading to an update of the Christie Lake resource in 2023.
CORPUS CHRISTI, Texas, Jan. 23, 2023 /PRNewswire/ - Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce new uranium mineralization in drill hole CB-178-1 that grades 5.42% eU 3 O 8 over 15.6 metres, including a subinterval that grades 23.2% eU 3 O 8 over 3.4 metres (Table 1). This result expands the footprint of high-grade uranium mineralization at the Christie Lake Project that was initially announced last year (see press release from October 4, 2022).
Vertical depth to the unconformity-hosted mineralization at Christie Lake is between 400 and 420 metres ("m") from surface. This is shallower by about 100 m than McArthur River and at approximately the same depth as Cigar Lake. The McArthur River and Cigar Lake Deposits are the archetypical high-grade Athabasca super-deposits with combined reserves and past production of 985.7 million lb. uranium.
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Amir Adnani, CEO and President stated: "Following our acquisition of UEX in 2022 we commenced a drilling program at the Christie Lake Project and reported one of the best intercepts of the year in Canada's high-grade Athabasca Basin with our discovery at the Sakura zone, with 68.7% eU 3 O 8 over 2.1 meters. We hit the ground running in 2023 to follow-up and test the continuity at this new zone and are excited to see the first drill hole of our new program expand the footprint of the high-grade mineralization. The results announced today also demonstrate the capability of our Canadian technical team to unlock value from UEC's Canadian conventional project pipeline. Moving forward, we have two objectives with our Eastern Athabasca Basin projects, 1) continue with aggressive exploration drilling for resource growth and 2) evaluate potential synergies for future development given the proximity of Christie Lake and Horseshoe Raven projects to our recently acquired Roughrider project."
Chris Hamel, Vice President Exploration, Canada stated: "The confirmed continuity of the high-grade uranium mineralization at the Sakura zone suggests a previously unrecognized trend of uranium mineralization at Christie Lake. With constrained expenditures during the years of the uranium bear market the exciting potential of Christie Lake was left under-explored. We're excited to be aggressively drilling and growing the world-class potential of this project. UEC's ability to apply financial strength into the project builds upon the technical work and compilation efforts done by UEX since 2016 to set the stage for this success."
Mineralization at the Sakura Zone remains open for expansion in all directions and is the focus of the 2023 drilling on the Christie Lake Project.
Table 1: Christie Lake Radiometric Equivalent Grades from CB-178-1
Hole From
(m) To
(m) Width
(m) Grade
(% eU 3 O 8 ) Cut-off
Grade
(% eU 3 O 8 ) CB-178-1
419.1 434.7 15.6 5.42 0.05 incl. 426.6 430.0 3.4 23.22 5.0
Notes:
1. True widths of the mineralization reported in Table 1 is anticipated to be 90-95% of core length but cannot be verified at this time. 2. eU 3 O 8 refers to radiometric equivalent grade U 3 O 8 , and it determined using calibrated down-hole radiometric probes, a process further discussed in the section "About Radiometric Grades".
Figure 1 - UEC's Athabasca Basin Projects
UEC news release Jan 23, 2023 - Figure 1 - UEC's Athabasca Basin Projects (CNW Group/Uranium Energy Corp)
About Canada's Athabasca Basin
The Athabasca Basin is a world-class uranium district in the northern portion of the provinces of Saskatchewan and Alberta in Canada, occupying an area of about 100,000 square kilometers. The unique geology of the Athabasca Basin deposits can result in deposit grades that exceed the world average of uranium deposits of 0.2% U 3 O 8 by up to 100 times.
All of Canada's current uranium production occurs from the mines located in the Athabasca Basin. According to the World Nuclear Association, the Athabasca Basin was responsible for producing 9.7% of the world's uranium production in 2021.
Uranium mineralization in the Athabasca Basin occurs in fault structures that penetrate the interface between the sandstone and underlying basement rocks, known as the unconformity. Uranium can be found at the interface, known as the unconformity, or up to several hundreds of meters below the unconformity surface in the underlying fault structures in the basement.
The uranium concentrations from holes presented above from the radiometric equivalent uranium grade ("REG"), denoted as eU 3 O 8 , which is determined in-situ within the drill hole. For more information on REGs please see the "About Radiometric Equivalent Grades" section below.
The core recovery from parts of the mineralized zone in hole CB-178-1 is estimated at approximately 50%. The portions of the core recovered from the interval confirm the presence of very high-grade uranium mineralization. Thus, the Company believes that assay results collected from the mineralized interval may not be representative of the true concentration of uranium present and that the REG presented above will be a more accurate estimate of grade.
About Radiometric Equivalent Grades
The eU 3 O 8 grades were estimated in-situ within the drill holes using calibrated down-hole radiometric gamma probes which are lowered down the hole, a method commonly used by uranium explorers and miners in the Athabasca Basin. The probe records the amount of radioactivity present in the rock adjacent to the probe as it moves up and down the hole.
The probes were calibrated prior to the commencement of the current drill program at the Saskatchewan Research Council's ("SRC") test pit facility in Saskatoon. Using down-hole probes to calculate radiometric equivalent grades is a common practice by uranium mining companies in the Athabasca Basin. Down-hole probes can accurately measure uranium concentration by measuring the light flashes that occur every time the probe's scintillator is struck by a gamma radiation particle emitted from uranium crystals. The number of light flashes are 'counted' by a photomultiplier tube. Sometimes within high-grade intervals, due to a process called 'saturation' occurs when light emitted by the probe's scintillator overwhelms the photomultiplier tube's ability to 'count' individual light flashes it can be difficult to accurate determine radiometric equivalent grades.
Samples from all holes have been collected for assay analysis to confirm these equivalent grades. The samples will be analyzed at the SRC's Geoanalytical Laboratory in Saskatoon, Saskatchewan, with results expected in the coming weeks.
About the Christie Lake Project
UEC holds an 82.775% combined direct and indirect interest in the Christie Lake Project which is a joint venture with JCU (Canada) Exploration Company, Limited, a company that is 50% owned by UEC's wholly owned subsidiary UEX Corporation. UEC's direct ownership in Christie Lake is 65.5492% and indirect ownership through its 50% ownership in JCU is 17.2254%
The Christie Lake Project is located in the eastern Athabasca Basin (see Figures 1 & 2) approximately 9 km northeast and along strike of Cameco's McArthur River Mine, the world's largest and highest-grade uranium mine. The controlling structure of the McArthur River Mine deposits, the P2 fault, continues to the northeast beyond the mine and trends onto the Christie Lake Project. Our technical team believes that, through a series of en-echelon steps, the northeast strike extension of the P2 Fault not only crosses the Christie Lake Project but also controls the three known uranium deposits on Christie Lake: the Ōrora, Paul Bay and Ken Pen Deposits as well as the newly discovered Sakura Zone.
Figure 2 - Christie Lake Project Location
UEC news release Jan 23, 2023 - Figure 2: UEC Christie Lake Project Location (CNW Group/Uranium Energy Corp)
Figure 3 - Sakura Zone Mineralization - preliminary zone boundaries
UEC news release Jan23, 2023 - Figure 3: UEC Sakura Zone Mineralization - preliminary zone boundaries (CNW Group/Uranium Energy Corp)
Qualified Persons and Data Acquisition
The technical information in this news release has been reviewed and approved by Chris Hamel, P.Geo., UECs Vice President Exploration, Canada who is considered to be a Qualified Person as defined by S-K 1300.
Figure 4 – Preliminary Cross Section with CB-178-1
UEC news release Jan 23, 2023 - Figure 4 – Preliminary Cross Section with CB-178-1 (CNW Group/Uranium Energy Corp)
About Uranium Energy Corp
Uranium Energy Corp is the fastest growing supplier of the fuel for the green energy transition to a low carbon future. UEC is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly In-Situ Recovery ("ISR") mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has two production-ready ISR hub and spoke platforms in South Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American warehoused U 3 O 8 ; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.
Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Many of these factors are beyond the Company's ability to control or predict. There can be no assurance that such statements 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 statements contained in this news release and in any document referred to in this news release. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
Cision
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SOURCE Uranium Energy Corp |
NEWS_268 | NYSE American: UEC
CORPUS CHRISTI, Texas, Jan. 23, 2023 /CNW/ - Uranium Energy Corp. (NYSE American: UEC) "UEC" or the "Company") invites investors and shareholders to attend the Company's presentation at the 2023 TD Securities Mining Conference on Thursday, January 26th, 2023 at 10:20 am Eastern Time.
Interested investors can register to attend UEC's live webcast via the 2023 TD Securities Mining Conference registration link: https://bit.ly/3WiDend
The presentation recording will be made available on the company's website for 90 days after the conference.
About Uranium Energy Corp.
Uranium Energy Corp is the fastest growing supplier of the fuel for the green energy transition to a low carbon future. UEC is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly In-Situ Recovery ("ISR") mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has two production-ready ISR hub and spoke platforms in South Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.
Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103
Cision
View original content:https://www.prnewswire.com/news-releases/uranium-energy-corp-to-present-at-the-2023-td-securities-mining-conference-301727768.html
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SOURCE Uranium Energy Corp
Cision
View original content: http://www.newswire.ca/en/releases/archive/January2023/23/c6448.html |
NEWS_269 | RENO, Nev., Jan. 23, 2023 /PRNewswire/ -- U-Haul Holding Company (NYSE: UHAL, UHAL.B), the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, will ring the Opening Bell tomorrow at the New York Stock Exchange to commemorate the Company's name change and the listing of both series of the Company's stock on the NYSE.
Members of executive management will be joined by Company leadership from its field operations as well as members of the Board of Directors. Royal Shoen, the granddaughter of the Company's co-founders and a current U-Haul team member, will ring the bell on behalf of the Company.
About U-Haul Holding Company
U-Haul Holding Company is the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company. U-Haul is in the shared use business and was founded on the fundamental philosophy that the division of use and specialization of ownership is good for both U-Haul customers and the environment.
About U-Haul
Founded in 1945, U-Haul is the No. 1 choice of do-it-yourself movers, with a network of more than 23,000 locations across all 50 states and 10 Canadian provinces. U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our proprietary Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to approximately 186,000 trucks, 128,000 trailers and 46,000 towing devices. U-Haul is the third largest self-storage operator in North America and offers 913,000 rentable storage units and 78.1 million square feet of self-storage space at owned and managed facilities. U-Haul is the largest retailer of propane in the U.S., and continues to be the largest installer of permanent trailer hitches in the automotive aftermarket industry. U-Haul has been recognized repeatedly as a leading "Best for Vets" employer and was recently named one of the 15 Healthiest Workplaces in America.
Story continues
Cision
View original content:https://www.prnewswire.com/news-releases/u-haul-holding-company-to-ring-the-opening-bell-at-the-new-york-stock-exchange-301727428.html
SOURCE U-Haul Holding Company |
NEWS_270 | By Joe Hoppe
Balfour Beatty PLC said Monday that it has won a 1.2 billion pound ($1.49 billion) contract from U.K. government-owned National Highways to design and deliver 10 miles of new highways around the river Thames.
The infrastructure company said it has been hired to deliver the 'Roads North of the Thames' package of works for the proposed Lower Thames Crossing, creating a new connection under the river to ease congestion in the region and increase capacity. |
NEWS_271 | By Will Horner
The U.K. has stood down coal-fired power plants it had put on standby amid a cold snap but said it would continue with a plan to ease consumption Monday evening when demand is expected to be strongest.
The U.K.'s National Grid ESO confirmed it had stood down the three coal-fired power plants early Monday morning.
The electricity network operator had said late Sunday that the coal plants would be warmed up should they be needed on Monday evening when demand was expected to be high at a time when wind speeds were forecast to be lower, leading to less wind-generated power.
The National Grid said however that it would continue with a plan to pay households and businesses to reduce demand during peak hours on Monday.
The U.K. and other parts of Europe are in the grip of a cold snap that has interrupted a period of warmer-than-average winter weather. While the weather, ample supplies of stockpiled natural gas and strong imports of U.S. LNG cargoes have eased fears about a challenging supply situation this winter, Europe's energy markets remain on edge.
The U.K.'s day-ahead power prices peaked at around GBP260/MWh for Monday evening, significantly below the record high level set in December during a similar cold snap, according to data from Epex Spot exchange.
U.K. natural gas prices edged down 2.8% to 164.26 pence a therm on Monday, having fallen to 136 pence a therm--their lowest level since August--earlier this month.
The decision to put the coal power plants on standby showed "an abundance of caution," said energy consultancy EnAppSys. "Whilst [supply] looks tight, its not as bad as previous days this winter," the consultancy said in a Twitter post.
Write to Will Horner at [email protected] |
NEWS_272 | DHI Group's (NYSE:DHX) stock is up by a considerable 17% over the past month. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. Particularly, we will be paying attention to DHI Group's ROE today.
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
Check out our latest analysis for DHI Group
How Do You Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for DHI Group is:
2.0% = US$2.1m ÷ US$105m (Based on the trailing twelve months to September 2022).
The 'return' is the profit over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.02 in profit.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
DHI Group's Earnings Growth And 2.0% ROE
It is quite clear that DHI Group's ROE is rather low. Even when compared to the industry average of 9.5%, the ROE figure is pretty disappointing. Given the circumstances, the significant decline in net income by 49% seen by DHI Group over the last five years is not surprising. However, there could also be other factors causing the earnings to decline. Such as - low earnings retention or poor allocation of capital.
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However, when we compared DHI Group's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 20% in the same period. This is quite worrisome.
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if DHI Group is trading on a high P/E or a low P/E, relative to its industry.
Is DHI Group Using Its Retained Earnings Effectively?
DHI Group doesn't pay any dividend, meaning that potentially all of its profits are being reinvested in the business, which doesn't explain why the company's earnings have shrunk if it is retaining all of its profits. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
Conclusion
In total, we're a bit ambivalent about DHI Group's performance. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_273 | UMH Properties, Inc.
FREEHOLD, NJ, Jan. 23, 2023 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH), a real estate investment trust (REIT) specializing in manufactured home communities, announced that it will host its Fourth Quarter and Full Year 2022 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Wednesday, March 1, 2023, at 10:00 a.m. Eastern Time.
UMH’s Fourth Quarter and Full Year 2022 results will be released on Tuesday, February 28, 2023, after the close of trading on the New York Stock Exchange and will be available on the Company’s website at www.umh.reit , in the Financials section.
To participate in the webcast, select the webcast icon on the homepage of the Company’s website at www.umh.reit, in the Upcoming Events section. Interested parties can also participate via conference call by calling toll free 877-513-1898 (domestically) or 412-902-4147 (internationally).
The replay of the conference call will be available at 12:00 p.m. Eastern Time on Wednesday, March 1, 2023, and can be accessed by dialing toll free 877-344-7529 (domestically) and 412-317-0088 (internationally) and entering the passcode 7936826. A transcript of the call and the webcast replay will be available at the Company’s website, www.umh.reit.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,700 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina and Georgia. UMH also has an ownership interest in and operates two communities in Florida, containing 363 sites, through its joint venture with Nuveen Real Estate.
Contact: Nelli Madden
732-577-4062
# # # # #
|
NEWS_274 | These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But the truth is, you can make significant gains if you buy good quality businesses at the right price. For example, the Dine Brands Global, Inc. (NYSE:DIN) share price is 39% higher than it was five years ago, which is more than the market average. It's also good to see that the stock is up 15% in a year.
So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns.
See our latest analysis for Dine Brands Global
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
During the five years of share price growth, Dine Brands Global moved from a loss to profitability. That's generally thought to be a genuine positive, so we would expect to see an increasing share price.
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
We know that Dine Brands Global has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.
What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Dine Brands Global's TSR for the last 5 years was 61%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
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A Different Perspective
It's good to see that Dine Brands Global has rewarded shareholders with a total shareholder return of 18% in the last twelve months. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 10% per year), it would seem that the stock's performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Case in point: We've spotted 3 warning signs for Dine Brands Global you should be aware of, and 1 of them makes us a bit uncomfortable.
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_275 | HF Sinclair (DINO) closed the most recent trading day at $57.83, moving +1.58% from the previous trading session. This change outpaced the S&P 500's 1.19% gain on the day. Elsewhere, the Dow gained 0.76%, while the tech-heavy Nasdaq added 0.29%.
Prior to today's trading, shares of the independent energy company had gained 11.89% over the past month. This has outpaced the Oils-Energy sector's gain of 5.68% and the S&P 500's gain of 4.06% in that time.
Wall Street will be looking for positivity from HF Sinclair as it approaches its next earnings report date. This is expected to be February 24, 2023. The company is expected to report EPS of $3.59, up 3363.64% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.76 billion, up 38.01% from the prior-year quarter.
Any recent changes to analyst estimates for HF Sinclair should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 1.44% higher within the past month. HF Sinclair is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, HF Sinclair is currently trading at a Forward P/E ratio of 6.31. This represents a discount compared to its industry's average Forward P/E of 24.56.
Investors should also note that DINO has a PEG ratio of 0.65 right now. 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. DINO's industry had an average PEG ratio of 1.39 as of yesterday's close.
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The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 25% 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 report
HF Sinclair Corporation (DINO) : Free Stock Analysis Report
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Zacks Investment Research |
NEWS_276 | A first look at the site plans for The Walt Disney Co.'s (NYSE: DIS) future 60-acre Lake Nona campus made available to Orlando Business Journal reveals an outline for how one of the region's most anticipated real estate projects will take shape. Why this matters: Disney's to-be-built Lake Nona campus is expected be built by 2026 and to be a significant economic driver for the region, as it will add at least another 2,000 jobs in Central Florida, including some Disney workers moving here from California. On Jan. 20, OBJ reported that new action had been taken on the project, with city of Orlando records reflecting that a specific parcel master plan is being sought "for the development of an approximately 1.8 million-square-foot office complex with office and flex space within the Lake Nona PD, Parcel 20A." |
NEWS_277 | The popularity of subscription video-on-demand (SVOD) was one of the bright spots for the stock market during the worst months of the COVID-19 pandemic; entertainment companies such as Warner Bros. Discovery (NASDAQ: WBD) and Walt Disney (NYSE: DIS) saw SVOD subscriber numbers grow at a fast clip, and both were able to leverage their respective streaming platforms to release new movies as countless film theaters remained in stasis. Since the world has opened up again, the SVOD industry as a whole has experienced slower growth. With this in mind, investors looking to shore up their streaming bets may wonder whether Walt Disney or Warner Bros. Discovery is the better option right now. |
NEWS_278 | Fourth Quarter 2022 Results
Net income of $83 million, or $0.38 per common share
Operating net income of $99 million, or $0.46 per common share 1
Loan balances increased $648 million or 2.5%
Deposit balances increased $249 million or 0.9%
Net interest margin increased 13 basis points to 4.01%
PORTLAND, Ore., Jan. 23, 2023 /PRNewswire/ --
(PRNewsfoto/Umpqua Holdings Corporation)
UMPQUA REPORTS FOURTH QUARTER AND FULL-YEAR 2022 RESULTS $0.38
$83
13.53 %
13.7 % 4Q22 Net earnings per diluted
common share
4Q22 Net income ($ in millions)
4Q22 Return on avg tangible
common equity ("ROATCE")1
Total risk-based capital ratio
(estimated)
CEO Commentary "Continued growth, outstanding credit quality, and net interest margin expansion again characterize Umpqua's quarterly results and round out what has been an exceptional year for the bank," said Cort O'Haver, President and CEO. "As we look forward to our upcoming merger with Columbia Banking System, which we expect to close on February 28, 2023, I want to thank our teams for their tireless efforts over the past 15 months. Umpqua associates' support of each other and dedicated focus on relationship banking with our customers and within our communities is evidenced by our ability to profitably grow the bank while simultaneously planning for our transformational combination with Columbia."
– Cort O'Haver, President and CEO of Umpqua Holdings Corporation
4Q22 HIGHLIGHTS (COMPARED TO 3Q22)
Net Interest Income and NIM • Net interest income increased by $18 million or 6% on a quarter-to-quarter basis due to the favorable impact of rising interest rates and higher average earning asset balances. • Net interest margin was 4.01%, up 13 basis points from the prior quarter. Total deposit costs were 46 basis points for the quarterly average and 66 basis points on December 31, 2022, compared to 22 basis points on September 30, 2022.
Non-Interest Income and Expense • Non-interest income increased by $5.4 million as a smaller loss related to the impact of interest rates on fair value accounting and hedges was partially offset by lower residential mortgage gain-on-sale income. • Non-interest expense increased by $17 million due primarily to higher merger-related expenses and a $4.9 million accrual for state and local business taxes captured in other expenses that is not expect to repeat in future quarters.
Credit Quality • Net charge-offs were 0.19% of average loans and leases (annualized) and centered in the FinPac portfolio. • Provision expense of $33 million compares to $28 million for the prior quarter. • Non-performing assets to total assets was 0.18% compared to 0.16% at September 30, 2022.
Capital • Estimated total risk-based capital ratio of 13.7% and estimated tier 1 risk-based capital ratio of 11.0%. • Declared a quarterly cash dividend of $0.21 per common share on January 11, 2023, payable February 6, 2023, to holders of record as of January 23, 2023.
Notable items • Set an expected merger closing date of February 28, 2023 after the close of business, subject to the satisfaction of closing conditions. • Structural adjustments within the mortgage banking segment continued as additional changes were announced in January, inclusive of further staff reductions.
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4Q22 KEY FINANCIAL DATA
PERFORMANCE METRICS 4Q22
3Q22
4Q21 Return on average assets 1.04 %
1.09 %
1.13 % Return on average tangible common equity1 13.53 %
13.02 %
12.94 % Operating return on average assets1 1.24 %
1.33 %
1.23 % Operating return on average tangible common equity1 16.18 %
15.90 %
14.03 % Net interest margin 4.01 %
3.88 %
3.15 % Efficiency ratio 57.24 %
56.07 %
63.10 % Loan to deposit ratio 96.64 %
95.12 %
84.80 %
INCOME STATEMENT ($ in 000s, excl. per share data) 4Q22
3Q22
4Q21 Net interest income $305,479
$287,604
$233,379 Provision (recapture) for credit losses $32,948
$27,572
($736) Non-interest income $34,879
$29,445
$82,738 Non-interest expense $194,982
$177,964
$199,711 Pre-provision net revenue1 $145,376
$139,085
$116,406 Operating pre-provision net revenue1 $167,094
$163,793
$122,633 Earnings per common share - diluted $0.38
$0.39
$0.41 Operating earnings per common share - diluted1 $0.46
$0.47
$0.44 Dividends paid per share $0.21
$0.21
$0.21
BALANCE SHEET 4Q22
3Q22
4Q21 Total assets $31.8B
$31.5B
$30.6B Loans and leases $26.2B
$25.5B
$22.6B Total deposits $27.1B
$26.8B
$26.6B Book value per common share $11.42
$11.14
$12.69 Tangible book value per share $11.40
$11.11
$12.65 Tangible book value per share, ex AOCI1 $13.37
$13.18
$12.64
Balance Sheet
Total consolidated assets were $31.8 billion as of December 31, 2022, compared to $31.5 billion as of September 30, 2022 and $30.6 billion as of December 31, 2021. Including secured off-balance sheet lines of credit, total available liquidity was $12.0 billion as of December 31, 2022, representing 38% of total assets and 44% of total deposits.
Gross loans and leases were $26.2 billion as of December 31, 2022, an increase of $648 million from $25.5 billion as of September 30, 2022. The majority of loan categories and business lines contributed to the quarter's net expansion, and new loans added to the portfolio during the fourth quarter have similar underwriting characteristics to existing loan categories, as our Q4 2022 Earnings Presentation details.
Total deposits were $27.1 billion as of December 31, 2022, an increase of $249 million from $26.8 billion as of September 30, 2022. The rising interest rate environment and the impact of inflationary pressures on customer spending contributed to a decline in non-interest bearing demand balances during the quarter that was offset by higher time balances. Brokered balances account for approximately 60% of the quarter's growth in time balances.
Net Interest Income
Net interest income was $305 million for the fourth quarter of 2022, up $18 million from the prior quarter. The increase reflects the favorable impact of higher interest rates on our asset sensitive balance sheet and higher average earning asset balances relative to the prior quarter.
The Company's net interest margin was 4.01% for the fourth quarter of 2022, up 13 basis points from 3.88% for the third quarter of 2022. The increase is primarily attributable to higher earning asset yields that outpaced the rising cost of interest-bearing liabilities. The cost of interest-bearing deposits increased to 0.77% for the fourth quarter of 2022 compared to 0.23% for the third quarter of 2022, and it was 1.07% on December 31, 2022 compared to 0.38% on September 30, 2022. Please refer to the Q4 2022 Earnings Presentation available on our website for additional net interest margin change details and interest rate sensitivity information.
Credit Quality
The allowance for credit losses was $315 million, or 1.21% of loans and leases, as of December 31, 2022, compared to $295 million, or 1.16% of loans and leases, as of September 30, 2022. The provision for credit losses of $33 million for the fourth quarter of 2022 compares to a provision of $28 million for the third quarter of 2022. The current quarter's provision reflects allowance requirements for changes between the August 2022 and November 2022 economic forecasts used in credit models, which contributed to the quarter's expense; loan portfolio mix changes and performance; and new loan generation. Please refer to the Q4 2022 Earnings Presentation available on our website for additional details related to the allowance for credit losses.
Net charge-offs were 0.19% of average loans and leases (annualized) for the fourth quarter of 2022, compared to 0.11% for the third quarter of 2022. The FinPac portfolio drove the linked-quarter increase in charge-offs as activity has begun to approach normalized levels after several quarters below its historical average. Excluding FinPac, net charge-offs were 0.01% for the fourth quarter of 2022. As of December 31, 2022, non-performing assets were 0.18% of total assets, compared to 0.16% as of September 30, 2022 and 0.17% as of December 31, 2021.
Non-interest Income
Non-interest income was $35 million for the fourth quarter of 2022, up $5.4 million from the prior quarter. The increase was driven by a lower adverse impact from interest rate-related adjustments as a net fair value loss of $8.1 million in the fourth quarter related to cumulative fair value adjustments and MSR hedging activity compares to a net fair value loss of $23 million in the third quarter. The favorable variance was partially offset by lower income from the origination and sale of mortgages.
As detailed in our segment and non-GAAP disclosures, non-interest income for the Core Banking segment includes a fair value gain of $2.1 million for the fourth quarter of 2022 compared to a $25 million fair value loss in the third quarter of 2022. Interest rate changes drive fair value adjustments for equity securities, swap derivatives, and loans carried at fair value. The modest decline in long-term interest rates experienced during the fourth quarter compares to the larger increase in the prior quarter, with the difference in the trajectory and magnitude of the changes accounting for the $27 million linked-quarter variance in fair value adjustments, which is captured in other income. Please refer to the Q4 2022 Earnings Presentation for additional details related to other non-interest income.
Revenue from the origination and sale of residential mortgages was $4.3 million for the fourth quarter of 2022 compared to $10.5 million for the prior quarter. The linked-quarter decline reflects a sequential quarter decrease of $180 million or 45% in for-sale mortgage origination volume and a decline in the home lending gain on sale margin to 1.96% for the fourth quarter of 2022 compared to 2.65% for the prior quarter. Of the current quarter's mortgage production, 89% related to purchase activity, compared to 92% for the prior quarter and 54% for the same period in the prior year. In the fourth quarter of 2022, we recorded a net write down of the MSR asset of $15 million, which includes a $10 million fair value loss related to model inputs. We correspondingly recorded a $0.3 million loss during the quarter related to the MSR hedges put in place in mid-August 2022. An increase in the expected cost of escrow deposits, which is not hedged, was the primary driver of the quarter's decline in the MSR asset value due to model inputs.
Non-interest Expense
Non-interest expense was $195 million for the fourth quarter of 2022, an increase of $17 million from the prior quarter level. The current quarter includes $11.6 million in merger-related expenses, $2.0 million in exit and disposal costs related to store consolidations and back-office lease exits, and a $4.9 million accrual for state and local business taxes captured in other expenses that is not expect to repeat in future quarters. Please refer to the Q4 2022 Earnings Presentation for quarterly expense change details.
Capital
As of December 31, 2022, the Company's tangible book value per common share[1] was $11.40, which compares to $11.11 at September 30, 2022 and $12.65 at December 31, 2021. While rising interest rates drove a decline in the fair value of available-for-sale investment securities and an increase in the fair value of junior subordinated debt between year-end 2021 and year-end 2022, a modest decrease in interest rates during the fourth quarter contributed to a slight reversal of these trends and the linked-quarter increase in tangible book value. These fair value change impacts are captured in accumulated other comprehensive (loss) income ("AOCI"), which was $(427) million at December 31, 2022, compared to $(450) million at September 30, 2022 and $1.8 million at December 31, 2021. Excluding AOCI, tangible book1 of $13.37 at December 31, 2022 compares to $13.18 and $12.64 for the linked-quarter and year-ago periods, respectively.
AOCI has no effect on our regulatory capital ratios as the Company opted to exclude it from our common equity tier 1 capital calculations. The Company's estimated total risk-based capital ratio was 13.7% and its estimated tier 1 risk-based capital ratio was 11.0% as of December 31, 2022. The Company remains above current "well-capitalized" regulatory minimums. The regulatory capital ratios as of December 31, 2022 are estimates, pending completion and filing of the Company's regulatory reports.
Segment Disclosures
Segment disclosures on pages 18-20 of this press release provide additional detail on the Company's two operating segments: Core Banking and Mortgage Banking.
The Core Banking segment includes all lines of business, except Mortgage Banking, including commercial, retail, and private banking, as well as the operations, technology, and administrative functions of the Bank and Holding Company. The Mortgage Banking segment includes the revenue earned from the production and sale of residential real estate loans, the servicing income from our serviced loan portfolio, the quarterly changes to the MSR asset, the quarterly changes in the MSR hedge, and the specific expenses that are related to mortgage banking activities including variable commission expenses. Revenue and associated expenses related to residential real estate loans held for investment are included in the Core Banking segment as portfolio loans are primarily originated through the Bank's retail consumer (store) and private banking channels. Management periodically updates the allocation methods and assumptions within the current segment structure.
Earnings Conference Call Information
The Company will host its fourth quarter 2022 earnings conference call on January 24, 2023, at 10:00 a.m. PT (1:00 p.m. ET). During the call, the Company will provide an update on recent activities and discuss its fourth quarter 2022 financial results. Participants may register for the call using the below link to receive dial-in details and their own unique PINs or join the audiocast. It is recommended you join 10 minutes prior to the start time.
Register for the call: https://register.vevent.com/register/BIe0ddbff7399e4e01aaf5599b227fe00d
Join the audiocast: https://edge.media-server.com/mmc/p/tvpg2iae
Access the replay through the Company's investor relations page: https://www.umpquabank.com/investor-relations/
About Umpqua Holdings Corporation
Umpqua Holdings Corporation (Nasdaq: UMPQ), headquartered in Lake Oswego, Oregon, is the parent company of Umpqua Bank, an Oregon-based regional bank that operates in Oregon, Washington, California, Idaho, Nevada, Arizona, and Colorado. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company was named #1 in Customer Satisfaction for the Northwest Region in the J.D. Power 2021 U.S. Retail Banking Satisfaction StudySM, and Forbes consistently ranks Umpqua as one of America's Best Banks. The Portland Business Journal has also recognized Umpqua as the Most Admired Financial Services Company in Oregon for 18 consecutive years. In addition to its retail and commercial banking presence, Umpqua Bank owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses. For more information, visit umpquabank.com.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the SEC. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In this press release we make forward-looking statements about the closing of our pending merger with Columbia Banking System, Inc. and strategic and growth initiatives. Risks that could cause results to differ from forward-looking statements we make are set forth in our filings with the SEC and include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, inflation and any slowdown in economic growth particularly in the western United States; the effect of the COVID-19 pandemic, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that exceeds current consensus estimates; our ability to effectively manage problem credits; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; the ability to complete, or any delays in completing, the proposed transaction between us and Columbia Banking System, Inc.; any failure to realize the anticipated benefits of the transaction when expected or at all; certain restrictions during the pendency of the proposed transaction that may impact our ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, diversion of management's attention from ongoing business operations and opportunities; and potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the transaction and integration of the companies. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking regulations), and other factors deemed relevant by the Company's Board of Directors, and may be subject to regulatory approval or conditions.
¹ "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for the comparable GAAP measurement
TABLE INDEX
Page Consolidated Statements of Operations 7 Consolidated Balance Sheets 9 Financial Highlights 10 Loan & Lease Portfolio Balances and Mix 11 Deposit Balances, Mix, and Select Account Details 13 Credit Quality - Non-performing Assets 14 Credit Quality - Allowance for Credit Losses 15 Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates 17 Segments 19 GAAP to Non-GAAP Reconciliation 22 |
NEWS_279 | Unicycive Therapeutics, Inc.
Data support UNI-494’s potential to treat acute kidney disease and underscore the phosphate binding benefits of Renazorb as a potential treatment for hyperphosphatemia
LOS ALTOS, Calif., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Unicycive Therapeutics, Inc. (Nasdaq: UNCY), a clinical-stage biotechnology company developing therapies for patients with kidney disease, today announced that three abstracts have been accepted for presentation at the National Kidney Foundation’s (NFK) upcoming Spring Clinical Meetings taking place in Austin, Texas from April 11-15, 2023.
The following data will be presented at the NFK’s Spring Clinical Meeting:
Results from three pre-clinical studies of UNI-494, evaluating the risk of drug/drug interactions (DDI) will be presented in a poster titled, “In Vitro Drug Interaction Studies of UNI-494 Indicate Low Risk of Drug-Drug Interactions.”
Efficacy data from a study of UNI-494 in a bilateral renal ischemia perfusion (I/R) model will be presented in a poster titled, “UNI-494 Lowers Urine 2-microglobulin in Rats.”
Outcomes from a study that evaluated the medication weight of various phosphate binders to bind 1 gram of phosphorus will be presented in a poster titled “Binder Weight to Bind 1 Gram of Phosphate.”
“We continue to build on the growing body of clinical evidence that supports the therapeutic potential of our two lead programs in kidney diseases and are delighted to be presenting these positive data before an audience of leading kidney disease experts,” said Shalabh Gupta, M.D., Chief Executive Officer of Unicycive Therapeutics. “With the recently announced results of our successful bioequivalence study of Renazorb compared to Fosrenol®, we expect to file a New Drug Application with the U.S. Food and Drug Administration (FDA) in mid-2023. These data provide further evidence of the benefits of Renazorb as a powerful phosphate binder and highlight its enhanced product profile, which is expected to improve medication compliance and, thereby, improve outcomes and quality-of-life for chronic kidney disease patients with hyperphosphatemia.”
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“We are very encouraged by the UNI-494 data to be presented as it should underscore the prodrug’s potential to be reno-protective and to have low risk of DDI, both of which are important findings for this product candidate as a promising therapeutic for acute kidney disease, a condition for which there are currently no FDA approved therapies,” added Dr. Gupta.
Fosrenol is a registered trademark of Shire International Licensing BV.
About Unicycive Therapeutics
Unicycive Therapeutics is a biotechnology company developing novel treatments for kidney diseases. Unicycive’s lead drug, Renazorb, is a novel phosphate binding agent being developed for the treatment of hyperphosphatemia. UNI-494 is a patent-protected new chemical entity in late preclinical development for the treatment of acute kidney injury. For more information, please visit www.unicycive.com.
Forward-looking statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using words such as "anticipate," "believe," "forecast," "estimated" and "intend" or other similar terms or expressions that concern Unicycive's expectations, strategy, plans or intentions. These forward-looking statements are based on Unicycive's current expectations and actual results could differ materially. There are several factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; our clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidates; risks related to business interruptions, including the outbreak of COVID-19 coronavirus, which could seriously harm our financial condition and increase our costs and expenses; dependence on key personnel; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Unicycive’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Unicycive specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Contact:
[email protected]
(650) 900-5470
Anne Marie Fields
Stern Investor Relations
[email protected]
212-362-1200
SOURCE: Unicycive Therapeutics, Inc.
|
NEWS_280 | New solution scans and compares direct-to-consumer pricing with insurance pricing to give members the best available price
Prescription drug purchases automatically included in members’ deductibles to maximize their benefits
EDEN PRAIRIE, Minn., January 23, 2023--(BUSINESS WIRE)--Optum Rx, UnitedHealth Group’s (NYSE: UNH) pharmacy services company, has launched Price Edge, a tool that seamlessly compares available direct-to-consumer pricing for traditional generic drugs with insurance pricing to ensure members always get the lowest prescription drug price. Price Edge is being offered to all Optum Rx clients.
Compared to most direct-to-consumer prescription drug prices, Optum Rx already offers a lower price nearly 90% of the time and Price Edge ensures a competitive consumer price on generic drugs with every transaction. Price Edge scans available prices and automatically provides the lowest available pricing to the member. If there is a lower cost to the member outside of their insurance benefit, Price Edge automatically applies that price.
Unlike other direct-to-consumer pharmacy solutions or cash market pricing, transactions initiated through Price Edge count toward the member’s deductible and out-of-pocket maximum. Plan sponsors also do not incur additional administrative fees for implementing Price Edge and their members automatically access the tool within their plan at no cost. Additionally, by capturing all transactions within the member benefit, Price Edge maintains continuity of safety protocols and safeguards against contraindications between medications.
"Providing people affordable access to prescription drugs is at the heart of everything we do, and Price Edge ensures our members get the best price and peace of mind that their medications count toward out-of-pocket spending," said Jon Mahrt, chief operating officer and pharmacy benefits manager president, Optum Rx. "We will continue to empower clients and consumers with innovative solutions that simplify pharmacy benefits, make pricing more transparent and ensure cost savings are easily accessible."
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It is the latest in a suite of products and tools designed to improve the pharmacy experience for consumers and health care professionals. For example, PreCheck MyScript offers health care providers real-time information on a patient’s pharmacy benefits and formulary to help identify the right drug to prescribe, obtain any prior authorizations and see the drug costs. Solutions including MyScript Finder and Proactive Savings Alerts allow consumers, clients and providers to get the information they want and need to make informed decisions about their care – including real-time prior authorization, point-of-sale rebates, and notifications on savings opportunities.
About Optum Rx
Optum Rx is a pharmacy care business providing people with more affordable access to prescription medications and therapies. This strategy has proven to lower costs for clients and members, improve quality of care and enhance the member experience. Powered by deep clinical expertise and integrated data and analytics, our full-spectrum pharmacy services simplify how consumers, clients and partners navigate the pharmacy space to deliver improved experiences, better health outcomes and a lower total cost of care. Optum Rx is part of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. For more information, visit optum.com/optumrx or follow @OptumRx on Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005124/en/
Contacts
Isaac Sorensen
(952) 931-5705
[email protected] |
NEWS_281 | BRENTWOOD, Tenn., Jan. 23, 2023 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today declared its quarterly cash distribution for the fourth quarter 2022 of $1.02 per common limited partner unit, or $4.08 per common limited partner unit on an annualized basis. This distribution represents a 3 percent increase from the distribution for the third quarter 2021 of $0.99 per common limited partner unit ($3.96 per common limited partner unit annualized) and a 5 percent increase over Delek Logistics' distribution for the fourth quarter 2021 of $0.975 per common limited partner unit ($3.90 per common limited partner unit annualized). The fourth quarter 2022 cash distribution is payable on February 9, 2023 to unitholders of record on February 2, 2023.
"This is the 40th consecutive quarter we have increased the quarterly payout to our unitholders, " said Avigal Soreq, President of Delek Logistics. "We achieved our commitment to deliver 5 percent distribution growth in 2022. Looking forward, we see strong momentum for DKL specifically in the Permian and Delaware Gathering Systems where producer demand is driving increased production volumes and creating growth opportunities. We expect another 5 percent of distribution growth in 2023."
About Delek Logistics Partners, LP
Delek Logistics Partners, LP is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region and giving effect to the 3 Bear acquisition, Delek Logistics Partners, LP provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services. Delek US Holdings, Inc. (NYSE: DK) ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics Partners, LP, and is also a significant customer.
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Safe Harbor Provisions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements regarding Delek Logistics' future distributions, including the amounts and timing thereof, utilization rates and other statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are "forward-looking statements," within the meaning of federal securities laws. Investors are cautioned that the following important factors, among others, may affect these forward-looking statements: the fact that a substantial majority of Delek Logistics' contribution margin is derived from Delek US, thereby subjecting it to Delek US' business risks; risks and costs relating to the maintenance age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; the impact of adverse market conditions affecting the utilization of Delek Logistics' assets and business performance, including margins generated by its wholesale fuel business; risks and uncertainties related to the integration of the 3 Bear business following the recent acquisition; risks and uncertainties related to the effects of the COVID-19 pandemic; uncertainties regarding future decisions by OPEC regarding production and pricing disputes between OPEC members and Russia; an inability of Delek US to grow as expected as it relates to our potential future growth opportunities, including dropdowns, and other potential benefits; scheduled turnaround activity; the results of our investments in joint ventures; adverse changes in laws including with respect to tax and regulatory matters and other risks as disclosed in our annual report on Form 10-K, quarterly reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission.
Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the statements. There can be no assurance that actual results will not differ from those expected by management or described in forward-looking statements. Delek Logistics undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof.
Tax Considerations
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Delek Logistics Partners, LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Delek Logistics Partners, LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate for individuals or corporations, as applicable. Nominees, and not Delek Logistics Partners, LP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (https://www.deleklogistics.com/investor-relations), news webpage (https://www.deleklogistics.com/news-releases) and its Twitter account (@DelekLogistics).
Delek Logistics Logo (PRNewsfoto/Delek Logistics)
Cision
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SOURCE Delek Logistics |
NEWS_282 | Shares of Unum Group UNM, +0.94% inched 0.94% higher to $40.68 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +1.19% rising 1.19% to 4,019.81 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. Unum Group closed $5.96 short of its 52-week high ($46.64), which the company achieved on November 2nd.
The stock underperformed when compared to some of its competitors Monday, as Chubb Ltd. CB, +1.43% rose 1.43% to $223.59. Trading volume (711,790) remained 622,162 below its 50-day average volume of 1.3 M. |
NEWS_283 | DOWNERS GROVE, Ill., Jan. 23, 2023 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or "the Company"), a leading global solutions provider to users of specialty ingredients and chemicals, announced today that it has signed an agreement to acquire leading Turkish specialty chemicals distributor Kale Kimya.
Univar Solutions to Expand Beauty and Personal Care, Home and Industrial Cleaning Portfolios with Acquisition of Leading Turkish Distributor, Kale Kimya
Univar Solutions Acquires Leading Turkish Distributor, Kale Kimya
First established in 1975, Kale Kimya offers best-in-class formulation laboratory capabilities and technical expertise as well as an extensive product portfolio of beauty and personal care products, and home and industrial cleaning products, including surfactants, actives, emulsifiers, preservatives, UV filters, fragrances, polymers, conditioners, esters and emollients.
"This acquisition further progresses our strategy to grow our Ingredients and Specialties business with a leading company that builds on and adds to our strengths, geographic footprint and product portfolio," said Nick Powell, president of Global Ingredients & Specialties. "I am delighted to soon welcome Kale Kimya to the Univar Solutions family. Their experience and knowledge will support our customers in the region, as we continue to capitalize on changing consumer trends in the marketplace."
Birgen Kaleağası Özemre, CEO, Kale Kimya, said: "This acquisition is a great fit between two companies that share market-leading reputations, expert technical support, a spirit of innovation and relentless dedication to exceptional customer service. This will support the growth of our people and products even further, and I look forward to becoming a unified company with Univar Solutions."
Terms of the transaction were not disclosed. Closing of the acquisition is subject to certain regulatory approvals and is expected to be completed within Q1 2023.
About Kale Kimya
Headquartered in Istanbul, Türkiye, Kale Kimya is a leading regional specialty chemicals distributor that is a well-known leader in the Beauty and Personal Care and Home and Industrial Cleaning markets. Having exclusive representation of over 20 worldwide known producers, Kale Kimya serves valuable customers with an extensive technical support with fully equipped application laboratories and wide range of logistic options through local warehouses in Turkey and the region. Kale Kimya plays a key role in the chemical industry supply in Turkey and over 30 export countries.
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Learn more at https://www.kalekimya.com
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global commodity and specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together.
Learn more at univarsolutions.com.
Forward-Looking Statements
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and predictions for the future, which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the ultimate geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo Solutions, Inc., or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek, "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.
Univar Solutions (PRNewsfoto/Univar Solutions Inc.)
Cision
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SOURCE Univar Solutions Inc. |
NEWS_284 | Shares of DraftKings Inc. DKNG, +4.90% rose 4.90% to $14.56 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index COMP, +2.01% rising 2.01% to 11,364.41 and the Dow Jones Industrial Average DJIA, +0.76% rising 0.76% to 33,629.56. This was the stock's second consecutive day of gains. DraftKings Inc. closed $10.45 below its 52-week high ($25.01), which the company reached on March 1st.
Trading volume (13.5 M) remained 210,604 below its 50-day average volume of 13.8 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_285 | Dynagas LNG Partners LP
ATHENS, Greece, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (the “Partnership”) (NYSE: “DLNG”), an owner and operator of LNG carriers, today announced that its Board of Directors has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units (the “Series A Preferred Units”) (NYSE: DLNG PR A) for the period from November 12, 2022 to February 11, 2023.
The cash distribution is payable on February 13, 2023 to all preferred unit holders of record as of February 6, 2023.
Distributions on the Series A Preferred Units will be payable quarterly in arrears on the 12th day (unless the 12th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of February, May, August and November of each year, when, as and if declared by our Board of Directors. This is the thirtieth sequential cash distribution on the Series A Preferred Units since they began trading on the NYSE.
The Partnership has 3,000,000 Series A Preferred Units outstanding as of the date of this press release.
About Dynagas LNG Partners LP
Dynagas LNG Partners LP. (NYSE: DLNG) is a master limited partnership which owns and operates liquefied natural gas (LNG) carriers employed on multi-year charters. The Partnership’s current fleet consists of six LNG carriers, with aggregate carrying capacity of approximately 914,000 cubic meters.
Visit the Partnership’s website at www.dynagaspartners.com
Contact Information:
Dynagas LNG Partners LP
Attention: Michael Gregos
Tel. +30 210 8917960
Email: [email protected]
Investor Relations/ Financial Media:
Nicolas Bornozis/Markella Kara
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, NY 10169
Tel. (212) 661-7566
E-mail: [email protected]
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
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The Partnership desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “expected,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Partnership’s management of historical operating trends, data contained in its records and other data available from third parties. Although the Partnership believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Partnership’s control, the Partnership cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Partnership’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for Liquefied Natural Gas (LNG) shipping capacity, changes in the Partnership’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Partnership’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Partnership disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.
|
NEWS_286 | By Chris Wack
DermTech Inc. shares were up 14%, to $5.13, after the company said it received favorable coverage policies from two commercial payers comprising a Blues plan in Hawaii and a physician-founded, member-focused and community-based not-for-profit health plan in New York.
The company said the coverage policies resulted from an independent technology assessment by the second largest laboratory benefits manager in the U.S., and are similar to the Medicare coverage policy of its foundational assay included in the DermTech Melanoma Test.
The two policies make the foundational assay of the DermTech Melanoma Test available to the 1.2 million combined members of these plans.
The DermTech Melanoma Test is a non-invasive way to enhance melanoma detection with a greater than 99% negative predictive value.
DermTech's total covered lives in the U.S. are now 115 million, which includes 68 million for Medicare/Medicare Advantage and 47 million for commercial and governmental payers.
DermTech shares hit their 52-week low of $1.55 on Dec. 27, and are down 58% in the past 12 months.
Write to Chris Wack at [email protected] |
NEWS_287 | LA JOLLA, Calif., January 23, 2023--(BUSINESS WIRE)--DermTech, Inc. (NASDAQ: DMTK) ("DermTech" or the "Company"), a leader in precision dermatology enabled by a non-invasive skin genomics platform, today announced favorable coverage policies from two commercial payers comprising a Blues plan in Hawaii and a physician-founded, member-focused and community-based not-for-profit health plan in New York. The coverage policies resulted from an independent technology assessment by the second largest laboratory benefits manager in the U.S. and are similar to the Medicare coverage policy of the Company’s foundational assay included in the DermTech Melanoma Test (DMT).
The forgoing two policies make the foundational assay of the DermTech Melanoma Test (DMT) available to the approximately 1.2 million combined members of these plans. The DMT is an innovative, non-invasive way to enhance melanoma detection with a greater than 99 percent negative predictive value (NPV).
"We are eager to work with these commercial payers to bring our test to their membership," said Dan Visage, senior vice president of payor access, DermTech. "The DMT test results are clinically meaningful and actionable, improve patient care and reduce healthcare costs. After reviewing our portfolio of clinical and health economic data, payers are increasingly acknowledging the value of our test and resulting benefits to their membership, network providers and health plans."
DermTech’s total covered lives in the U.S. are now approximately 115 million, which includes 68 million for Medicare/Medicare Advantage and 47 million for commercial and governmental payers.
About The DermTech Melanoma Test
DermTech originally marketed its foundational assay under the name Pigmented Lesion Assay (PLA). The PLA assessed pigmented skin lesions, moles or dark skin spots for melanoma. In particular, the PLA detected expression of the LINC00518 ("LINC") and preferentially expressed antigen in melanoma ("PRAME") genes using an amplification process called reverse transcription-polymerase chain reaction ("RT-PCR"). The Company introduced its second-generation PLA test, PLAplusTM, in 2021, which could also identify the presence of TERT using a DNA sequencing technique and adding the TERT promoter mutation analyses to the PLA gene expression test. We have since rebranded our PLA and PLAplus tests as the DMT. The DMT tests for LINC and PRAME, and may be ordered with or without the add-on test for TERT. Positive results for LINC, PRAME, or TERT correlate with the presence of melanoma. If the biomarkers are not detected, this result indicates a greater than 99% probability that the mole being tested is not melanoma.
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About DermTech
DermTech is a leading genomics company in dermatology and is creating a new category of medicine, precision dermatology, enabled by its non-invasive skin genomics platform. DermTech’s mission is to improve the lives of millions by providing non-invasive precision dermatology solutions that enable individualized care. DermTech provides genomic analysis of skin samples collected non-invasively using our Smart StickersTM. DermTech markets and develops products that facilitate the early detection of skin cancers and is developing products that assess inflammatory diseases and customize drug treatments. For additional information, please visit DermTech.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of DermTech may differ from its actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "outlook," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations and evaluations with respect to: the performance, patient benefits, cost- effectiveness, commercialization and adoption of DermTech’s products and the market opportunity for these products, DermTech’s positioning and potential revenue growth, financial outlook and future financial performance, ability to maintain or improve its operating efficiency and reduce operating expenses, implications and interpretations of any study results, expectations regarding agreements with or reimbursement or cash collection patterns from Medicare or commercial payers and related billing practices or number of covered lives, and DermTech’s ability to expand its product offerings and develop pipeline products. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the control of DermTech and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against DermTech; (2) DermTech’s ability to obtain additional funding to develop and market its products; (3) the existence of favorable or unfavorable clinical guidelines for DermTech’s tests; (4) the reimbursement of DermTech’s tests by Medicare and commercial payers; (5) the ability of patients or healthcare providers to obtain coverage of or sufficient reimbursement for DermTech’s products; (6) DermTech’s ability to grow, manage growth and retain its key employees and maintain or improve its operating efficiency and reduce operating expenses; (7) changes in applicable laws or regulations; (8) the market adoption and demand for DermTech’s products and services together with the possibility that DermTech may be adversely affected by other economic, business, and/or competitive factors; and (9) other risks and uncertainties included in the "Risk Factors" section of the most recent Annual Report on Form 10-K filed by DermTech with the Securities and Exchange Commission (the "SEC"), and other documents filed or to be filed by DermTech with the SEC, including subsequently filed reports. DermTech cautions that the foregoing list of factors is not exclusive. You should not place undue reliance upon any forward- looking statements, which speak only as of the date made. DermTech does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005064/en/
Contacts
Steve Kunszabo
DermTech
(858) 291-1647
[email protected] |
NEWS_288 | Warner Acquires Recorded Music Rights to YES' Complete Atlantic Records Catalog
Rock & Roll Hall of Famers Remain One of the Most Respected and Influential Bands of All Time, With More Than 30 Million Albums Sold Worldwide
LOS ANGELES, Jan. 23, 2023 /PRNewswire/ -- Warner Music Group's (Nasdaq: WMG) Global Catalog Division has announced the acquisition of the recorded music rights and income streams from YES' Atlantic Records era catalog. More than 50 years after the British group's debut, YES remains one of the most successful, respected, and influential rock bands of all time, with more than 30 million albums sold worldwide.
This acquisition continues a longstanding relationship between the band and Warner Music that now spans over a half-century, beginning with YES' self-titled 1969 Atlantic debut album. The deal encompasses landmark works such as Fragile, Close to the Edge, and 90125. The full purchase includes 12 studio albums, as well as live recordings and compilations.
In making the announcement, Kevin Gore, Warner Music's President of Global Catalog, said: "My introduction to YES came while working at a record store in Ohio in 1983. I loved the 90125 album and went to see the band live, where I was introduced to their catalog of incredible songs. I've been a fan ever since and we're absolutely thrilled and deeply honored that the strong relationship between YES and Warner Music will continue forever."
The band added in a joint statement: "The entire YES family came together and worked enthusiastically with Warner Music Group to secure this historic deal, ensuring that these iconic recordings will continue to be curated in the optimum manner to delight their fans across more than five decades, while also finding and developing new audiences for this timeless music."
YES is among the most enduring, ambitious, and virtuosic bands in music history, with a dedicated legion of fans across the globe. When the progressive rock pioneers joined the Rock & Roll Hall of Fame in 2017, Rush's Geddy Lee noted in his induction speech: "The music of YES is still echoing down through the years, showing me that music truly is a continuum."
The original members of YES – bassist Chris Squire, singer Jon Anderson, drummer Bill Bruford, guitarist Peter Banks, and keyboardist Tony Kaye – came together in 1968. In early 1969, the band auditioned at London's Speakeasy Club for Atlantic Records co-founder Ahmet Ertegun, who immediately signed them up. Later that year, the group released its self-titled debut, mixing original material with totally reworked versions of songs by groups like the Byrds and the Beatles.
YES became an international arena band after Steve Howe joined in 1970 for The Yes Album and Rick Wakeman in 1971 for Fragile. The band's sound evolved and its songs became more ambitious as they adopted a symphonic approach to their music and explored more enigmatic themes with their lyrics. Drummer Alan White joined in 1972 after the recording of Close to the Edge.
This era saw YES build a huge global following, enjoying both critical and commercial success thanks to a string of now-classic albums: The Yes Album (platinum), Fragile (double platinum), Close to the Edge (platinum), the double album Tales from Topographic Oceans (gold), Relayer (gold), Going for the One (gold), and Tormato (platinum). The '70s also produced some of YES' best-loved tracks, including "I've Seen All Good People," "Starship Trooper," "Roundabout," and "Heart of the Sunrise," along with album-side length epics like "Close to the Edge" and "The Gates of Delirium."
A new YES incarnation was born in 1983 when Anderson, Squire, White, and original keyboardist Tony Kaye were joined for the first time by guitarist Trevor Rabin. The landmark album 90125 was certified triple platinum and produced the band's first and only #1 hit, "Owner of a Lonely Heart." An instrumental track on the album, "Cinema," would go on to win the GrammyÒ Award for Best Rock Instrumental Performance. In 1987, YES released its final album for Atlantic, Big Generator. It was certified platinum and featured the radio hits "Love Will Find a Way" and "Rhythm of Love."
Studio albums, live recordings, and compilations included in the deal:
Yes (1969)Time and a Word (1970)The Yes Album (1971)Fragile (1971)Close to the Edge (1972)Yessongs (1973)Tales from Topographic Oceans (1973)Relayer (1974)Yesterdays (1975)Going for the One (1977)Tormato (1978)Drama (1980)Yesshows (1980)Classic Yes (1981)90125 (1983)9012Live: The Solos (1985)Big Generator (1987)Yesyears (1991)Yesstory (1992)Highlights: The Very Best of Yes (1993)In A Word: Yes (1969-) (2002)Yes Remixes (2003)The Ultimate Yes: 35th Anniversary Collection (2003)The Word Is Live (2005)High Vibration (2013)Progeny: Seven Shows from Seventy-Two (2015)The Steven Wilson Remixes (2018)Topographic Drama: Live Across America (2017)Yes 50 Live (2019)
About Warner Music Group
With a legacy extending back over 200 years, Warner Music Group (WMG) today brings together artists, songwriters, and entrepreneurs that are moving entertainment culture across the globe. Operating in more than 70 countries through a network of affiliates and licensees, WMG's Recorded Music division includes renowned labels such as 300 Entertainment, Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin', Warner Records, Warner Classics, and Warner Music Nashville. WMG's music publishing arm, Warner Chappell Music, has a catalog of over one million copyrights spanning every musical genre, from the standards of the Great American Songbook to the biggest hits of the 21st century. Warner Music Group is also home to ADA, the independent artist and label services company – as well as next gen artist services division WMX, which includes consumer brands such as Songkick, the live music app; EMP, the merchandise e-tailer; UPROXX, the youth culture destination; and HipHopDX, the hip-hop music news site. In addition, WMG counts storytelling powerhouse Warner Music Entertainment and social media content creator IMGN among its many brands. Follow WMG on Instagram, Twitter, LinkedIn, and Facebook.
Media Contact:Jason Elzy[email protected]
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SOURCE Warner Music Group Corp. |
NEWS_289 | VANCOUVER, BC, Jan. 23, 2023 /CNW/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSX-V: URC) ("URC" or the "Company") invites investors and shareholders to attend the Company's presentation at the 2023 TD Securities Mining Conference on Thursday, January 26th, 2023 at 10:40 am Eastern Time.
Interested investors can register to attend URC's presentation via the TD Securities Mining Conference registration link: https://bit.ly/3Wlub4V
The presentation recording will be made available on the company's website for 90 days after the conference.
About Uranium Royalty Corp.
Uranium Royalty Corp. is the world's only uranium-focused royalty and streaming company and the only pure-play uranium listed company on the Nasdaq. URC provides investors with uranium commodity price exposure through strategic acquisitions in uranium interests, including royalties, streams, debt and equity in uranium companies, as well as through holdings of physical uranium. The Company is well positioned as a capital provider to an industry needing massive investments in global productive capacity to meet the growing need for uranium as fuel for carbon-free nuclear energy. URC has deep industry knowledge and expertise to identify and evaluate investment opportunities in the uranium industry. The Company's management and the Board include individuals with decades of combined experience in the uranium and nuclear energy sectors, including specific expertise in mine finance, project identification and evaluation, mine development and uranium sales and trading.
Cision
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SOURCE Uranium Royalty Corp.
Cision
View original content: http://www.newswire.ca/en/releases/archive/January2023/23/c6577.html |
NEWS_290 | This article is reprinted by permission from NerdWallet.
Privacy seems to be an increasingly rare commodity. How often do we hear about security breaches that reveal our personal information to some bad actor somewhere? It feels as if it’s almost daily.
LastPass, the password security app (ironically enough), Chick-fil-A and Twitter have all recently (like in the past couple of weeks or so) had security fails.
And even if you win a billion-dollar lottery, only a few states allow you to remain anonymous. You can’t even buy privacy, it seems.
See: Data from 235 million Twitter users reportedly exposed by hacker
Big money = little privacy
Let’s say you just won a bazillion-dollar lottery, and everyone has to know about it. Yeah, sure, you’ll want to share the exciting news with your family and friends (yes?). But telling the world? Yikes.
In most states, you can’t claim that jackpot anonymously.
The rules vary according to the prevailing laws in each state. Though the landscape often changes, at last count, only about a dozen states allow you to remain anonymous. Arizona, Delaware, Georgia, Kansas, Maryland, New Jersey, North Dakota, Ohio, South Carolina, Texas and Virginia are among those that give you the option to keep the big news to yourself.
Just about every other state requires some kind of identity reveal for big winners. In California, state laws require releasing a winner’s full name and where they bought the ticket. That may be why a $2 billion Powerball ticket winner from November has yet to come forward.
Some states will allow you to set up a trust to accept the payout, which can add a layer of privacy.
So, if you win the lottery, check your state laws to find out whether you’ll have to wear a disguise and change your name after you cash in. Or, you could snag the cash and move to Pitcairn Island in the South Pacific. Said to be one of the most secluded areas in the world, the island is home to only about 50 people — but there’s high-speed internet.
You’ll have to fly in all of your friends, family and food, but hey, for you, Big Winner, cost is no object.
Plus: These online scams to steal your money will shock you — even if you think you’ve seen them all
Your credit report for all to see
OK, so that’s the fun dream-of-winning-the-lottery privacy angle. A much more pressing privacy concern is linked to your credit score.
A flaw in the website of Experian EXPGY, +0.33% , one of the three major credit reporting companies, has recently been reported. According to Brian Krebs, a computer security reporter and blogger, identity thieves had been retrieving the credit reports of an unknown number of consumers.
Apparently, a glitch allowed anyone to bypass the usual security measures and access a consumer’s report. All that was needed was a person’s name, address, birthday and Social Security number — items often found on the dark web for a price.
This month, the Consumer Financial Protection Bureau released an analysis of nearly half a million consumer complaints involving credit reporting bureaus — that’s Experian as well as Equifax EFX, -0.25% and TransUnion TRU, +2.84% . CFPB Director Rohit Chopra said the credit bureaus “routinely top the list of complaints submitted by consumers,” but the report also called out improvements in the way complaints are handled and the frequency of relief provided to consumers.
The bureau said the three credit reporting agencies must continue working to improve compliance with consumer financial protection laws and serve consumers better. “We will be exploring new rules to ensure that they are following the law rather than cutting corners to fuel their profit model,” Chopra added.
Last year, the CFPB reported that the credit reporting companies had “often allowed their processes to be used to coerce individuals to pay medical bills they may not even owe.”
The CFPB said that once medical bills were placed in collections and submitted to credit reporting agencies, consumers saw their credit scores fall. The lower scores became “weapons” collectors could use against people to force payment. Some people were so frustrated that they simply gave in and paid, whether the amount was owed or not. They were desperate to make the collection hassles end and protect their credit from further damage.
This year, credit bureaus will stop reporting medical debt collections under $500, and changes to credit scoring models will reduce the credit score impact of unpaid medical debt.
Also see: Can you trust mobile banking apps? How to stay as safe as possible when banking on your phone.
False ‘junk data’ on credit reports
In the recently reported Experian credit report access hack, security reporter Krebs said that when he accessed his report using the security glitch criminals used, he found his credit report contained “so many errors that it’s probably going to take a good deal of effort on my part to straighten out.”
In an October statement, the CFPB noted the prevalence of “obviously false ‘junk data’” in consumer credit reports. An example included the accusation of someone “defaulting on a loan before they were born.”
Protect your privacy
With recent breaches and security hacks in mind, you may want to:
Update the master password of your password manager app (or get one if you don’t have one), and change the passwords of any important financial websites you access.
Request your credit file from annualcreditreport.com, the government website that allows you to access your three credit reports for free. Look for errors, then report and correct them with the appropriate bureau.
Consider freezing your credit. And if you previously had your credit frozen, make sure it still is.
More From NerdWallet
Hal M. Bundrick, CFP® writes for NerdWallet. Email: [email protected]. Twitter: @halmbundrick. |
NEWS_291 | Talk of a “common currency” to be shared by Brazil and Argentina sparked confusion — and strong reactions — over the weekend.
The stir was created after a joint guest column by Brazilian President Lula Inacio da Silva and Argentine President Alberto Fernandez was published in Argentina’s Perfil newspaper on Saturday, ahead of the Brazilian leader’s Sunday arrival in Buenos Aires. In the column, the pair said they “decided to advance discussions on a common South American currency that can be used for both financial and commercial flows, reducing operational costs and our external vulnerability.”
The column, and remarks by Argentina’s economy minister to the Financial Times, sparked speculation of a move toward a full-scale currency union, comparable to the euro, the currency shared by 20 European nations.
See: Proposed Brazil-Argentina common currency is met with doubts from experts
The actual proposal is far more modest, observers said, but could go a long way to alleviating trade-related pains in the region.
So what is on the table?
Brazilian Finance Ministher Fernando Haddad told reporters that initial discussions focused on how to aid Argentina in buying Brazilian exports without drawing down its meager dollar reserves, Reuters reported, rather than creating a shared currency that would circulate in both countries.
So rather than a shared currency comparable to the euro, what is being discussed is the creation of a unit of account that would help facilitate trade, said Monica de Bolle, a senior fellow at the Peterson Institute for International Economics, in a phone interview.
Trade between Brazil and Argentina is largely denominated in U.S. dollars. The problem is that Argentina doesn’t have much in the way of dollar reserves, so it has put in place a number of capital constraints, which has had a big impact on Brazilian exporters, de Bolle explained.
The best comparison would be special drawing rights, or SDRs, the supplementary foreign-exchange reserve assets created and maintained by the International Monetary Fund, she said. The value of an SDR is based on a basket of international currencies.
The value of any unit of account created by Brazil and Argentina could similarly be based on a basket of currencies, potentially including the Argentine peso USDARS, -0.00% , Brazilian real USDBRL, +0.01% and the U.S. dollar DXY, -0.20% , though that is one of many issues that would need to be worked out.
“This is a long-term effort…I would say they have at least a year’s worth of work on this, assuming they can keep the focus,” de Bolle said.
While the prospective tie-up is far less ambitious than a euro-style currency union, skeptics still argued it would be a bad idea for both countries.
While politicians argue it would allow users to trade more freely in their currency, “bilateral trade between Brazil and Argentina is becoming less and less relevant, with trade between the two countries accounting for just 6% of their GDP,” said Marcos Casarin, chief Latam economist at Oxford Economics, in a Monday note.
Casarin questioned why individual exporters would accept the unit as an alternative means of payment.
“Even for Argentina, the weaker link between the two, we struggle to see why exporters — who currently benefit from the dollar’s stability to store the value of their profits — would accept trading in a currency tied to the Argentinian peso or the Brazilian real which cannot be used to pay for the vast majority of their imports which are sourced from outside the Mercosur” trade bloc, made up of Brazil, Argentina, Uruguay and Paraguay, the economist wrote. |
NEWS_292 | Tax season starts today, with the Internal Revenue Service promising improved customer service and taxpayers hoping to put a challenging 2022 behind them.
The agency will accept 2022 tax year returns from Jan. 23 to April 18 this year. Yes, taxpayers have three extra days this year; the usual April 15 deadline is pushed back because of the calendar.
Following a few dismal seasons where taxpayers struggled to reach IRS help, the agency announced the hiring of more than 5,000 new telephone operators and the addition of more in-person staff to help answer taxpayer queries, funded by the Inflation Reduction Act of last summer.
Those hires might come in handy this year, as there are some significant changes for taxpayers. Here’s a guide to those changes and some tips on how to get your return faster.
Don’t Count on the Expanded Child Tax Credit and Other Pandemic Programs
Many pandemic-era assistance programs have expired, and as a result, some taxpayers could see smaller refunds than in recent years or owe money.
Among the pandemic-era provisions that have ended is the expanded child tax credit. For 2021, the maximum child tax credit increased from $2,000 to $3,000 per qualifying child age 6 and older and from $2,000 to $3,600 per qualifying child under the age of six, and the age limit was raised from 16 to 17. This credit will revert to the $2,000 and the age cap will return to 16 for tax year 2022.
Also returning to prior levels are the credit for child and dependent care expenses and the earned-income tax credit for low and moderate-income filers. For 2022, the credit for child and dependent care expenses is nonrefundable, meaning you can’t put any excess toward your refund, and maxes out at $2,100 for two or more qualifying people, versus $8,000 and potentially refundable last year. The earned-income tax credit varies widely based on income, filing status, and number of children; for 2021, the maximum credit amount was nearly tripled for certain qualifying taxpayers.
The ability of non-itemizers to deduct $300 in charitable contributions, or $600 for couples, is another pandemic-era perk that is no longer available.
Be Strategic With Market Losses
While market losses are painful in the moment, some losses can help when it comes to tax time.
Last year was marked by steep market losses, and investors who sold assets that declined in value since they bought them may be able to use those losses to their advantage. Recognized losses can be used to offset capital gains incurred by selling appreciated assets. If capital losses exceed capital gains, you may be able to use the excess to offset up to $3,000 of ordinary income a year. Anything remaining can be carried forward to future years.
Know What Changes Were Delayed
One of the scheduled changes for tax year 2022 has been delayed. In December, the IRS postponed the requirement that third-party settlement firms including Venmo, PayPal, and Cash App send users and the IRS a report of transactions received above $600 on a Form 1099-K. Instead, that requirement is scheduled go into effect for calendar year 2023, with 1099-Ks going out in early 2024.
This new requirement is intended for business income, not for personal transactions like splitting the cost of a meal with friends. Even though you might not receive a record of business income incurred via these platforms, “you should always be reporting your income, even if it isn’t on a tax form,” said Eric Bronnenkant, head of tax at Betterment.
Keep Unemployment in Mind
Tech workers bore the brunt of job cuts last year in waves of layoffs that have continued into the new year. If you’re among them, keep in mind that severance pay and unemployment income are taxable, as are payments for any accumulated vacation or sick time. This isn’t a new policy, but it might be new to you if you’re finding yourself unemployed for the first time.
File Early and Electronically
Experts generally urge taxpayers to file early in the season, since that prevents criminals from filing a fraudulent form on your behalf to try to claim your refund. Remember, if the IRS needs to reach you, the agency will initiate contact via the U.S. Postal Service and never through social media, text, or a threatening phone call.
Speed up your return by filing electronically. The IRS is still working through a backlog of paper returns from the previous several years of tax filings. “The system is set up for electronic filing,” Burnette said. “If you file your return on paper, good luck.”
IRS Free File, a service that offers guided preparation and free filing, is available to taxpayers with incomes of $73,000 or less.
Understand How Extensions Work
Taxpayers who request an extension will have until Monday, Oct. 16 to file. An extension only grants you more time to hand in your return. If you owe the IRS any money, you’ll still have to pay it by April 18.
Filing your return and paying the IRS any money owed are two separate events, said Rob Burnette, CEO and financial advisor at Outlook Financial Center in Troy, Ohio, and a registered tax preparer with the IRS. If you owe money but can’t afford to pay it right away, you can still file your return early and then pay whatever you owe by April 18.
Write to Elizabeth O’Brien at [email protected] |
NEWS_293 | Exagen Inc.
SAN DIEGO, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, announced today that Tina S. Nova, Ph.D. has been elected as Executive Chair of the Exagen Board of Directors, effective January 19, 2023. Dr. Nova succeeds Brian Birk, who has served as Chair of the Board of Directors at Exagen since 2018, and who will remain a member of the Board.
Dr. Nova currently serves as President of Veracyte's (Nasdaq: VCYT) U.S. CLIA business where she leads all aspects of the company’s broad menu of diagnostic laboratory tests. She previously held the position of President & CEO of Decipher Biosciences until March 2021, when Veracyte purchased the organization for $600 million. She has held numerous leadership roles in the life science industry, which include CEO of Molecular Stethoscope and SVP & General Manager of Oncology at Illumina. Dr. Nova was the co-founder, President & CEO of Genoptix, which was purchased by Novartis AG for $470 million in 2011. She has also held senior positions with Nanogen, Inc., Ligand Pharmaceuticals, Inc. and Hybritech.
“I am excited to welcome Tina as Executive Chair at Exagen. Her broad experience with innovative healthcare companies and leadership in growing organizations with proprietary technology will be invaluable to Exagen as we look to expand our position as the premier provider of autoimmune testing solutions,” said John Aballi, President and CEO of Exagen. “I have had the pleasure of working with Tina for almost 15 years, and I’m thrilled to work closely with her again as we continue to shape the future of Exagen.”
“I am honored to have been elected Executive Chair and I’m excited to take on this additional leadership role at Exagen,” said Dr. Nova. “I also want to thank Brian Birk, who served as the company’s Chair since 2018. Brian was instrumental in growing the organization into a leader in autoimmune testing and I am pleased that he will remain a member of the Board.”
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Dr. Nova currently serves on the Board of Azenta (Nasdaq: AZTA) and previously served on the Board of Directors of Veracyte and Arena Pharmaceuticals. Dr. Nova holds a Ph.D. in Biochemistry from the University of California, Riverside and a B.S. in Biological Sciences from the University of California, Irvine.
About Exagen
Exagen (Nasdaq: XGN) is a leading provider of autoimmune diagnostic, prognostic, and monitoring testing solutions. Exagen is a patient focused, discovery driven organization built on the success of AVISE testing and is investing in its product pipeline to support patients throughout their autoimmune diagnosis and treatment journeys. The goal at Exagen is to assist patients, physicians, and payors by enabling precision medicine. Exagen is located in San Diego County with clinical and research and development laboratories in Vista, CA.
For more information, please visit Exagen.com and follow @ExagenInc on Twitter.
Forward-Looking Statements
Exagen cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Exagen’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: Exagen's goals and strategies; the potential utility and effectiveness of Exagen's services and testing solutions that are currently available or in its development pipeline; the expected benefits of Dr. Nova’s position with Exagen; and Exagen's potential growth and success and its ability to continue to grow and succeed. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect its business, financial condition and results of operations, including as a result of slowdown in its operations as well as those of its suppliers and courier services, impeding patient movement and interruptions to healthcare services causing a decrease in test volumes, disruptions to the supply chain of material needed for its tests causing an increase in cost per test, its sales and commercialization activities and its ability to receive specimens and perform or deliver the results from its tests, delays in reimbursement and coverage decisions from Medicare and third-party payors and in interactions with regulatory authorities, and delays in ongoing and planned clinical trials involving its tests; Exagen’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payors and others in the medical community; Exagen’s ability to successfully execute on its business strategies; third-party payors not providing coverage and adequate reimbursement for Exagen’s testing products or promoted therapeutics, including Exagen's ability to collect funds due; Exagen’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting Exagen’s business; and other risks described in Exagen’s prior press releases and Exagen’s filings with the Securities and Exchange Commission ("SEC"), including under the heading “Risk Factors” in Exagen’s Annual Report on Form 10-K for the year ended December 31, 2021 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contacts:
Investors Relations
Exagen Inc.
Ryan Douglas
[email protected]
760.560.1525
Company
Exagen Inc.
Kamal Adawi, Chief Financial Officer
[email protected]
760.477.5514
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NEWS_294 | A growing number of small-cap companies are announcing plans to go after naked short sellers, claiming their stocks are being artificially depressed by illegal trading activity.
Verb Technology Co. Inc. VERB, +69.65% . , a provider of interactive video-based sales apps with operations in Newport, California and Lehi, Utah, said Monday it was joining education company Genius Group Ltd. GNS, +45.37% , e-scooter and e-bike maker Helbiz HLBZ, +109.13% and Creatd Inc. CRTD, +1.35% , which aims to unlock creativity for creators, brands and consumers, in coming up with measures to ensure “greater integrity in the capital markets,” as Chief Executive Rory J. Cutai said in a statement.
San Diego-based Ryvyl RVYL, -14.43% , a blockchain and stablecoin tech company, said it too is joining the fight.
Genius Group got the ball rolling last week when it said it had appointed a former F.B.I. director to lead a task force investigating alleged illegal trading in its stock that it first disclosed in early January.
Genius CEO Roger Hamilton told MarketWatch on Friday that it had evidence that bad actors had cost the company dearly.
“We want this to stop,” he said. “They’re taking value away from our shareholders. They’re predators. They’re doing something illegal, and we want it to stop, whether that means getting regulators to enforce existing regulations or put new ones in place.”
For more, see: Genius Group CEO on why his company is fighting back against naked short sellers — and it’s not alone
Naked short selling is illegal under Securities and Exchange Commission rules, but that hasn’t stopped the practice, which Hamilton said affects far more companies than is generally known.
In regular short trading, an investor borrows shares from someone else, then sells them and waits for the stock price to fall. When that happens the shares are bought cheaper and returned to the prior owner, with the short seller pocketing the difference as profit.
In naked short selling, investors don’t bother borrowing the stock first and simply sell shares with a promise to deliver them at a later date. When that promise is not fulfilled, it’s known as failure to deliver.
The company is exploring legal action and is planning an extraordinary general meeting in the coming weeks to get shareholder approval for its planned actions. These include paying a special dividend as a way to flush out bad actors and working with regulators to share information.
The issue of naked short selling emerges in financial markets with some regularity, and is often raised by small companies with low stock prices. But the practice is relatively rare, and is highly risky, according to market participants.
Short sales are almost never the reason a stock falls, which is caused by long sellers selling, as Ihor Dusaniwsky, head of predictive analytics at finacial analytics firm S3 Partners, has told MarketWatch.
For more, see: Short sellers are not evil, but they are misunderstood
Related: Why naked short selling has suddenly become a hot topic
On Friday, Helbiz said it was getting in on the action. Creatd CEO Jeremy Frommer, meanwhile, is behind Ceobloc, a website that aims to end the practice of naked short selling.
“Illegal naked short selling is the biggest risk to the health of today’s public markets,” is how the site introduces its mission.
Genius on Monday set guidance for 2023 saying it expects revenue of $48 million to $52 million, up 37% from its 2022 pro forma guidance. The Singapore-based company expects the number of students attending its entrepreneur-training courses to climb to 5.7 million to 6.0 million, up 30% from 2022.
The company expects to achieve adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization, of $500,000 to $1.0 million.
“In 2023 we are expecting Genius Group to continue our strong growth trajectory, and we are focused on managing our costs and achieving positive EBITDA,” Hamilton said in a statement.
Genius stock was last up 43.5%.
Verb was up 82%, while Helbiz was up 68%. Creatd was up 3%, and Ryvyl was down 10%. |
NEWS_295 | Verb Technology Co. Inc. VERB, +69.65% , a provider of interactive video-based sales apps, has become the latest small-cap company to announce plans to address naked short selling of its stock, among suspected trading violations. The Newport Beach, California and Lehi, Utah-based company said it believes “that certain individuals and/or companies may have engaged in illegal trading activities, including, among other things, naked short selling and spoofing that may have artificially depressed VERB’s stock price.” The board is creating a plan of action and considering engaging forensic experts, and working with other companies that have identified similar illegal trading in their shares. “Today we join the fight begun by companies like Genius Group GNS, +45.37% , Helbiz HLBZ, +109.13% and Creatd CRTD, +1.35% , among others for greater integrity in the capital markets,” CEO Rory J. Cutai said in a statement. Verb stock, which closed Friday at 23 cents, soared 33% premarket Monday. |
NEWS_296 | Verb Technology Company, Inc.
The Company Suspects There Has Been Widespread Illegal Trading Activity That Artificially Depressed Its Stock Price
NEWPORT BEACH, Calif. and LEHI, Utah, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (Nasdaq: VERB) ("VERB" or the "Company"), the leader in interactive video-based sales-enablement applications, including shoppable livestream video, announces today that its board of directors has begun examining measures to address the alleged illegal short selling of its stock, among other suspected trading violations. Based on what appear to be unusual trading patterns, the Company believes that certain individuals and/or companies may have engaged in illegal trading activities, including, among other things, naked short selling and spoofing that may have artificially depressed VERB’s stock price. As VERB’s board contemplates the formulation of a comprehensive plan of action to address this activity, the board is evaluating several options, including the engagement of forensic experts, as well as working in collaboration with other listed companies and their counsel that have identified similar unusual and perhaps illicit trading activity in their shares.
“Today we join the fight begun by companies like Genius Group, Helbiz and Creatd, among others for greater integrity in the capital markets,” states Rory J. Cutaia, VERB Chairman & CEO. “The pattern of suspicious trading activity in our stock as a potential cause of the continued depression of our share price has had broad implications for our business and our shareholders, impacting our cost of capital, restricting our growth, and jeopardizing compliance with Nasdaq’s listing requirements. When this type of trading activity continues unchecked it hurts companies like ours, but it also hurts retail investors, the honest hard-working people who invest their money in the stock market. This activity must stop. We believe that by combining resources and working together we bring the attention needed to effectuate change and hold those responsible accountable. I welcome the opportunity to collaborate with other CEOs whose companies have been affected by these actions.”
About VERB
Verb Technology Company, Inc. (Nasdaq: VERB), the market leader in interactive video-based sales applications, transforms how businesses attract and engage customers. The Company’s MARKET.live platform is a multi-vendor, multi-presenter, livestream social shopping destination at the forefront of the convergence of ecommerce and entertainment, where hundreds of retailers, brands, creators and influencers can monetize their base of fans and followers across social media channels. The Company’s Software-as-a-Service, or SaaS platform, based on its proprietary interactive video technology, is comprised of a suite of sales enablement business software products offered on a subscription basis. Its software applications are used by hundreds of thousands of people in over 100 countries and in more than 48 languages. VERB’s clients include large sales-based enterprises as well as small business sales teams, including the sales and marketing departments of professional sports teams. With approximately 115 employees and contractors, the Company is headquartered in Lehi, Utah, and maintains offices in Newport Beach, California.
Follow VERB here:
VERB on Facebook: https://www.facebook.com/VerbTechCo/
VERB on Twitter: https://twitter.com/VerbTech_Co
VERB on LinkedIn: https://www.linkedin.com/company/verb-tech/
VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ
FORWARD-LOOKING STATEMENTS
This communication contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as "anticipate," "expect," "project," "plan," or words or phrases with similar meaning. Forward-looking statements contained in this press release relate to, among other things, the Company's projected financial performance and operating results, including its MARKET.live platform and SHOPFEST events, as well as statements regarding the Company's progress towards achieving its strategic objectives, including the successful integration and future performance of acquisitions. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products, including verbLIVE; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Investor Relations:
888.504.9929
[email protected]
Media Contact:
855.250.2300, ext.125
[email protected]
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NEWS_297 | Several small-cap companies on Monday alleged illegal trading of their stocks, joining others that have said this month they are investigating allegedly illegal short selling. Shares of Verb Technology rose more than 90% after the company said its board is weighing measures to address alleged illegal short selling of its stock. Shares of SciSparc rose more than 20% after the Israeli-based pharmaceutical company made a similar announcement. Other companies, including Agriforce Growing Systems and |
NEWS_298 | Verb Technology Company, Inc.
NEWPORT BEACH, Calif. and LEHI, Utah, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (NASDAQ: VERB) ("VERB" or the "Company"), the leader in interactive video-based sales-enablement applications, including shoppable livestream video, today announced that it intends to offer its shares of common stock without warrants in a public offering. The Company intends to use the net proceeds from this offering for general corporate purposes and repayment of debt. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Aegis Capital Corp. is acting as the sole book-running manager for the offering
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-264038) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on April 14, 2022. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at [email protected], or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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About VERB
Verb Technology Company, Inc. (Nasdaq: VERB), the market leader in interactive video-based sales applications, transforms how businesses attract and engage customers. The Company’s MARKET.live platform is a multi-vendor, multi-presenter, livestream social shopping destination at the forefront of the convergence of ecommerce and entertainment, where hundreds of retailers, brands, creators and influencers can monetize their base of fans and followers across social media channels. The Company’s Software-as-a-Service, or SaaS platform, based on its proprietary interactive video technology, is comprised of a suite of sales enablement business software products offered on a subscription basis. Its software applications are used by hundreds of thousands of people in over 100 countries and in more than 48 languages. VERB’s clients include large sales-based enterprises as well as small business sales teams, including the sales and marketing departments of professional sports teams. With approximately 115 employees and contractors, the Company is headquartered in Lehi, Utah, and maintains offices in Newport Beach, California.
Follow VERB here:
VERB on Facebook: https://www.facebook.com/VerbTechCo/
VERB on Twitter: https://twitter.com/VerbTech_Co
VERB on LinkedIn: https://www.linkedin.com/company/verb-tech/
VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations:
888.504.9929
[email protected]
Media Contact:
855.250.2300, ext.125
[email protected]
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NEWS_299 | Viemed Healthcare, Inc.
LAFAYETTE, La., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD and TSX:VMD.TO), a national leader in respiratory care and technology-enabled home medical equipment services, announced the ruling of a U.S. Department of Health and Human Services Administrative Law Judge (“ALJ”) with respect to the appeal of claims related to findings from the U.S. Department of Health and Human Services Office of Inspector General (“OIG”). The ALJ’s Decision overturned all remaining disputed claims. As a result, Medicare Administrative Contractors returned 100% of the previously remitted funds to Viemed.
“We are extremely pleased with the judge’s decision in this matter, which reaffirms the high integrity of our clinical protocols and sets the record straight. In addition to restoring our long-standing reputation as a best-in-class provider and industry leader, the extensive appeals process was important to us in order to ensure that the right patients continue to have timely access to this life saving care,” said Casey Hoyt, Viemed’s CEO.
In the May 2021 report, the OIG reviewed the claims of 100 of the Company’s patients in an audit of non-invasive ventilation in the home. The OIG concluded that 98% of the sampled claims did not comply with Medicare requirements, asserting that the therapy was not necessary for those patients, in direct contradiction to the conclusions of the prescribing providers. The OIG recommended that the Centers for Medicare and Medicaid Services (“CMS”) issue an extrapolated overpayment and recoup funds from Viemed. Through the statutory appeals process, the Company disputed the OIG’s findings, maintaining that the report ignored each patient’s diagnosis and supporting documentation from treating and prescribing physicians and applied clinical guidelines that are contrary to CMS’ accepted standard of care. The ALJ’s decision resolved all remaining appealed claims in Viemed’s favor, resulting in a $0 overpayment for patient claims addressed by the OIG.
Hoyt further stated, “The available data and research confirms that timely access to non-invasive ventilation in the home improves health outcomes while simultaneously driving down overall healthcare costs. We will urgently communicate these compelling and clarifying results with payors and treating physicians so that more patients nationwide can receive the lifesaving care they need and deserve.”
ABOUT VIEMED HEALTHCARE, INC.
Viemed is a provider of in-home medical equipment and post-acute respiratory healthcare services in the United States. Viemed’s service offerings are focused on effective in-home treatment with clinical practitioners providing therapy and counseling to patients in their homes using cutting-edge technology. Visit our website at www.viemed.com.
For further information, please contact:
Glen Akselrod
Bristol Capital
905-326-1888
[email protected]
Todd Zehnder
Chief Operating Officer
Viemed Healthcare, Inc.
337-504-3802
[email protected]
Forward-Looking Statements
Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian securities legislation (collectively, “forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “potential”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or “projects”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “will”, “should”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance, including the anticipated health and cost benefits associated with non-invasive ventilation in the home and the anticipated communication of the ALJ’s ruling, are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business, market and economic conditions in the regions in which the Company operates; the impact of the COVID-19 pandemic and the actions taken by governmental authorities, individuals and companies in response to the pandemic on our business, financial condition and results of operations, including on the Company's patient base, revenues, employees, and equipment and supplies; significant capital requirements and operating risks that the Company may be subject to; the ability of the Company to implement business strategies and pursue business opportunities; volatility in the market price of the Company's common shares; the Company’s novel business model; the risk that the clinical application of treatments that demonstrate positive results in a study may not be positively replicated or that such test results may not be predictive of actual treatment results or may not result in the adoption of such treatments by providers; the state of the capital markets; the availability of funds and resources to pursue operations; reductions in reimbursement rates and audits of reimbursement claims by various governmental and private payor entities; dependence on few payors; possible new drug discoveries; dependence on key suppliers and the recall of certain Royal Philips BiPAP and CPAP devices and ventilators that we distribute and sell; granting of permits and licenses in a highly regulated business; competition; low profit market segments; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations; difficulty integrating newly acquired businesses; the impact of new and changes to, or application of, current laws and regulations; the overall difficult litigation and regulatory environment; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the Company’s status as an emerging growth company and a smaller reporting company; and the occurrence of natural and unnatural catastrophic events or health epidemics or concerns, such as the COVID-19 pandemic, and claims resulting from such events or concerns; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and with the securities regulatory authorities in certain provinces of Canada available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
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