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A | (Adds analyst comment in paragraphs 4 and 8)By Bhanvi SatijaSept 5 (Reuters) - Illumina on Tuesday named Agilent Technologies' Jacob Thaysen as its CEO, months after the former head of the U.S. genetic testing company resigned following a proxy fight with billionaire Carl Icahn.Illumina repurchased cancer test maker Grail in 2021, despite opposition from the U.S. and European antitrust regulators, a decision that prompted Icahn to pursue a proxy fight, arguing the unit should be divested as it had cost billions of dollars to investors.The company said Thaysen, 48, who has been part of the analytical instruments division leadership at Agilent since 2018, would take the helm effective Sept. 25.Thaysen "checks all the boxes" required for the CEO role with his expertise in medical tools industry and understanding of Illumina's customer base, said Evercore analyst Vijay Kumar.The proxy battle with Icahn ended with a May vote in which the activist investor won enough shareholder support to oust the then-board chair, John Thompson, and appoint his nominee, Andrew Teno, on the board.Illumina's former head Francis deSouza stepped down in June, marking another victory for the activist investor, even though deSouza had secured more than twice the number of shareholder votes than his challenger.Thaysen will replace interim CEO Charles Dadswell, who will resume as senior vice president and general counsel at Illumina.While the appointment starts a new chapter for Illumina, it remains a "show me" story given that investors were hoping for a hire with CEO experience, said Citi analyst Patrick Donnelly.The appointment comes at a time when the company's Grail deal is under increasing pressure from antitrust regulators, and just weeks after the genetic testing firm cut its full-year forecast, partly due to a slow recovery in China.(Reporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar and Shweta Agarwal) | Reuters | "2023-09-05T11:45:47" | UPDATE 3-Illumina taps Agilent's Jacob Thaysen as CEO | https://finance.yahoo.com/news/1-illumina-names-agilent-exec-114547984.html | 459f20c6-4e42-3a50-9c10-5618af7eaf39 |
A | Stocks trend lower this morning entering the first trading of September, a historically weak month for markets. Lowe's (LOW) stock received an upgrade to Outperform from Bernstein analysts. Oracle (ORCL) shares are rising after Barclays upgraded the stock on the software company's cloud outlook amid AI trends. Illumina (ILMN) names Former Agilent (A) Vice President Jacob Thaysen as its new CEO.Yahoo Finance Live details several trending stocks after Tuesday's opening bell.Video TranscriptBRAD SMITH: Stocks are lower to start off this holiday-abbreviated week. Investors could be in for a challenging few weeks ahead with September, historically, the weakest month for equities.There's also plenty of data on the docket ahead for the Fed's September policy meeting.JULIE HYMAN: And on an individual basis, watching shares of Lowe's this morning. Bernstein upgrading the home improvement chain to outperform from market perform. Analysts there Dean Rosenblum saying in a note, he now sees an influx of positive trends that could expand the company's margins in the next two years.He added that Lowe's growth could outpace that of competitor Home Depot. And the shares not getting the benefit here this morning.BRAD SMITH: Yeah. We're also watching Oracle after Barclays upgraded the stock from equal-weight to overweight and raised its price target to $150 citing the company's multi-year growth story. In a note, analysts saying that the giant's Cloud Infrastructure in this business partly fueled by emerging AI opportunities will be a key to the overall story.JULIE HYMAN: And shares of Illumina are on the move as well. They are trading lower by about 4% after the company announced former Agilent Senior Vice President Jacob Thaysen will take the helm as its new CEO. That's effective September 25.The move comes months after a bout of leadership turmoil. Previous CEO Francis deSouza stepping down in June, just weeks after activist investor Carl Icahn tried and failed to oust him from the top spot. | Yahoo Finance Video | "2023-09-05T14:36:52" | Lowe's and Oracle upgrades, Illumina CEO: Market Movers | https://finance.yahoo.com/video/lowes-oracle-upgrades-illumina-ceo-143652525.html | f5140a07-16f5-31a2-b3d4-8cdd687513a0 |
AAL | American Airlines (AAL) closed at $14.33 in the latest trading session, marking a +0.21% move from the prior day. This move outpaced the S&P 500's daily loss of 0.7%. At the same time, the Dow lost 0.57%, and the tech-heavy Nasdaq lost 1.06%.Prior to today's trading, shares of the world's largest airline had lost 11.62% over the past month. This has lagged the Transportation sector's loss of 4.85% and the S&P 500's gain of 0.58% in that time.Investors will be hoping for strength from American Airlines as it approaches its next earnings release. In that report, analysts expect American Airlines to post earnings of $0.75 per share. This would mark year-over-year growth of 8.7%. Meanwhile, our latest consensus estimate is calling for revenue of $13.59 billion, up 0.93% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.18 per share and revenue of $53.11 billion. These totals would mark changes of +536% and +8.46%, respectively, from last year.Investors might also notice recent changes to analyst estimates for American Airlines. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.57% lower within the past month. American Airlines currently has a Zacks Rank of #3 (Hold).In terms of valuation, American Airlines is currently trading at a Forward P/E ratio of 4.5. This represents a discount compared to its industry's average Forward P/E of 8.58.Story continuesThe Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAmerican Airlines Group Inc. (AAL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research | Zacks | "2023-09-06T21:50:20" | American Airlines (AAL) Gains As Market Dips: What You Should Know | https://finance.yahoo.com/news/american-airlines-aal-gains-market-215020513.html | 0a2ded74-9f39-3088-b28e-fa8f23d2993e |
AAL | American Airlines (AAL) closed at $13.98 in the latest trading session, marking a -0.14% move from the prior day. This change lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.Heading into today, shares of the world's largest airline had lost 11.17% over the past month, lagging the Transportation sector's loss of 6.54% and the S&P 500's loss of 1.27% in that time.Wall Street will be looking for positivity from American Airlines as it approaches its next earnings report date. In that report, analysts expect American Airlines to post earnings of $0.75 per share. This would mark year-over-year growth of 8.7%. Our most recent consensus estimate is calling for quarterly revenue of $13.59 billion, up 0.93% from the year-ago period.AAL's full-year Zacks Consensus Estimates are calling for earnings of $3.09 per share and revenue of $53.11 billion. These results would represent year-over-year changes of +518% and +8.46%, respectively.Any recent changes to analyst estimates for American Airlines should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.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. Within the past 30 days, our consensus EPS projection has moved 8.31% lower. American Airlines is currently a Zacks Rank #3 (Hold).Valuation is also important, so investors should note that American Airlines has a Forward P/E ratio of 4.53 right now. For comparison, its industry has an average Forward P/E of 8.43, which means American Airlines is trading at a discount to the group.Story continuesInvestors should also note that AAL has a PEG ratio of 0.08 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.34 based on yesterday's closing prices.The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% 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 reportAmerican Airlines Group Inc. (AAL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research | Zacks | "2023-09-08T21:45:21" | American Airlines (AAL) Stock Sinks As Market Gains: What You Should Know | https://finance.yahoo.com/news/american-airlines-aal-stock-sinks-214521496.html | 764525d2-7349-384a-b88c-df20676dea4d |
AAON | In the news release, ONE Gas Announces Angela E. Kouplen Senior Vice President - Chief Human Resources Officer, issued 05-Sep-2023 by ONE Gas, Inc. over PR Newswire, we are advised by the company that the second paragraph, first sentence, should list Robert S. McAnnally's title as chief executive officer rather than chief operating officer as originally issued inadvertently. The complete, corrected release follows:ONE Gas Announces Angela E. Kouplen Senior Vice President - Chief Human Resources OfficerTULSA, Okla., Sept. 5, 2023 /PRNewswire/ -- ONE Gas, Inc. (NYSE: OGS) today announced that Angela E. Kouplen will join ONE Gas as senior vice president and chief human resources officer, effective Sept. 29, 2023.(PRNewsfoto/ONE Gas, Inc.)In her role at ONE Gas, Kouplen will oversee all functions of human resources and be a part of the company's leadership team reporting to Robert S. McAnnally, president and chief executive officer. She brings to the company a diverse background and executive leadership experience having served as an officer of two public companies. Most recently she was vice president of administration and chief information officer at the University of Tulsa. Angela has been an Independent Director for AAON, Inc. (NASDAQ: AAON) since 2016, where she serves as chair of the compensation committee and is a member of the audit committee."Angela's capabilities will strengthen our management team and reinforce our commitment to developing a high-performing workforce through impactful leadership programs, strategic succession planning and targeted recruitment and retention programs," said McAnnally.About ONE Gas, Inc.ONE Gas, Inc. (NYSE: OGS) is a 100-percent regulated natural gas utility, and trades on the New York Stock Exchange under the symbol "OGS." ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.3 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.Story continuesFor more information and the latest news about ONE Gas, visit onegas.com and follow its social channels: @ONEGas, Facebook, LinkedIn and YouTube.About Angela E. KouplenWith more than 25 years of leadership and management experience, Angela Kouplen has held a variety of positions in human resources, contracts, facilities management and information technology. Since 2016, she has been an independent director for AAON, where she serves on the compensation and audit committees.Kouplen most recently served as chief information officer for the University of Tulsa. Before joining TU, she was responsible for human resources, executive compensation, information technology, real estate and facilities for WPX Energy. Prior to that, Kouplen worked in information technology with Williams and CITGO. Her roles have included managing IT planning and governance, third-party applications and applications development, e-business strategy as well as sourcing.She received a bachelor of science degree in management with a minor in management information systems from Oklahoma State University and an MBA from The University of Tulsa.Angela has served on a variety of nonprofit boards and committees supporting the Tulsa-area community including YWCA, Resonance Center for Women and the Tulsa Area United Way Women's Leadership Council. She currently serves on the Tulsa Regional STEM Alliance Board of Directors, Junior Achievement Board of Directors, the OSU Alumni Association Board of Directors and TU's Collins College of Business Executive Advisory Board. Angela also serves as an Elder at South Point Church in Bixby.Analyst Contact:Erin Dailey918-947-7411Media Contact:Leah Harper918-947-7123 CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/one-gas-announces-angela-e-kouplen-senior-vice-president--chief-human-resources-officer-301918239.htmlSOURCE ONE Gas, Inc. | PR Newswire | "2023-09-05T21:16:00" | /C O R R E C T I O N -- ONE Gas, Inc./ | https://finance.yahoo.com/news/one-gas-announces-angela-e-200500446.html | aaab51dd-71dc-3b07-8f72-eb68be5c22ab |
AAON | For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Aaon (AAON) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Aaon is one of 99 companies in the Construction group. The Construction group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Aaon is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for AAON's full-year earnings has moved 8.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.According to our latest data, AAON has moved about 30.8% on a year-to-date basis. In comparison, Construction companies have returned an average of 30%. This means that Aaon is outperforming the sector as a whole this year.Another stock in the Construction sector, Lennar (LEN), has outperformed the sector so far this year. The stock's year-to-date return is 30.5%.Over the past three months, Lennar's consensus EPS estimate for the current year has increased 29.2%. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Aaon belongs to the Building Products - Air Conditioner and Heating industry, which includes 6 individual stocks and currently sits at #5 in the Zacks Industry Rank. On average, this group has gained an average of 51% so far this year, meaning that AAON is slightly underperforming its industry in terms of year-to-date returns.Story continuesLennar, however, belongs to the Building Products - Home Builders industry. Currently, this 19-stock industry is ranked #4. The industry has moved +44.7% so far this year.Going forward, investors interested in Construction stocks should continue to pay close attention to Aaon and Lennar as they could maintain their solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAAON, Inc. (AAON) : Free Stock Analysis ReportLennar Corporation (LEN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research | Zacks | "2023-09-08T13:40:07" | Is AAON (AAON) Stock Outpacing Its Construction Peers This Year? | https://finance.yahoo.com/news/aaon-aaon-stock-outpacing-construction-134007700.html | 688e759e-4128-348a-a4d2-ec29de1e1342 |
AAPL | Key inflation data, new iPhones, and a looming deadline for contentious labor negotiations await investors in the week ahead, the first full trading week of September.The economic highlight comes on Wednesday morning, when the Consumer Price Index (CPI) for August will be released. The report is set to show headline inflation continues to reverse its downtrend as oil prices rise.On the corporate side, Apple (AAPL) is scheduled to host its marquee fall event on Tuesday, with new iPhones, Apple Watches, and a new charging port for most devices expected to be announced.A September 14 deadline also looms in a contract dispute between the United Auto Workers and automakers Ford (F), General Motors (GM), and Stellantis (STLA), with workers threatening a strike when their current deal expires on Thursday.Last week, markets continued choppy trading that began back in August as concerns over sticky price inflation from an August report on the services sector sent stocks lower on Wednesday, while a decline in tech stocks over fears regarding China's economy weighed on equity markets.The tech-heavy Nasdaq (^IXIC) led the losses, falling near 2% during the holiday-shortened trading week. The benchmark S&P 500 (^GSPC) dropped 1.1% while the Dow Jones Industrial Average (^DJI) fell 0.4%Inflation will be in focus this week with Wall Street expecting another uptick in headline inflation.Economists forecast headline inflation rose 3.6% over the prior year in August, an increase from the 3.2% rise seen in July. Prices are set to rise 0.6% on a monthly basis. An increase in energy prices is expected to drive much of the increase.On a "core" basis, which strips out the volatile food and energy categories, CPI is forecast to rise 4.3% over last year in August, a slowdown from the 4.7% increase seen in July. Monthly core price increases are expected to clock in at 0.2%.This content is not available due to your privacy preferences.Update your settings here to see it.The Federal Reserve's closer focus on core inflation has economists and investors confident the central bank won't raise rates in September. As of Friday, markets had priced in a 92% chance the Fed holds interest rates steady at the conclusion of its September 19-20 meeting, according to data from the CME Group.Story continues"We do not expect that [CPI data] will tip the scales towards a hike, given the mixed message delivered by the other employment reports and last month's inflation data," Jefferies economist Thomas Simons wrote on Friday.Also out this week will be the August retail sales report, which will provide a look at how resilient US consumers remain after a strong summer. Economists expect retail sales increased 0.1% in August, a noted decrease from the 0.7% jump seen in July.Data on producer prices, a read on small business optimism, and the weekly report on initial filings for unemployment insurance will also feature on the economic calendar.iPhone debutApple's update of its signature product on Tuesday is expected to be a market moving event, and comes at a critical juncture for America's biggest public company.Apple stock slipped more than 6% in a two-day period last week after Chinese officials told employees at central government agencies to not use iPhones at work. A new high-end phone release from China's Huawei also added pressure on Apple.Some analysts, though, said the selloff was "overblown."But this trading hangs in the background of Apple's event, dubbed "Wonderlust," which is expected to see its iPhone lineup refreshed, new Apple Watches revealed, and the introduction of USB-C charging ports across its device lineup, sunsetting the lightning charger currently powering most iPhones."Historically, the iPhone launch has been a sell-the-news event," Morgan Stanley analyst Erik Woodring wrote in a preview of the event."While we don't expect the day-of stock reaction to the September 12th Wonderlust event to be any different this year, we continue to believe that FY24 iPhone expectations are too low and that the iPhone 15 cycle is not as 'iterative' as anticipated, with the potential for both unit and [average selling price] growth."Customers experience Apple products at an Apple store in Chengdu, Southwest China's Sichuan province, Sept 8, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Weekly calendarMonday Economic data: No notable economic news. Earnings: Bowlero (BOWL), Casey's (CASY), Oracle (ORCL)TuesdayEconomic data: NFIB Small Business Optimism, August (91.3 expected, 91.9 prior)Earnings: No notable companies set to report. WednesdayEconomic data: Consumer Price Index, month-over-month, August (+0.6% expected, +0.2% previously); Core CPI, month-over-month, August (+0.2% expected, +0.2% previously); CPI, year-over-year, August (+3.6% expected, +3.2% previously); Core CPI, year-over-year, August (+4.3% expected, +4.7% previously); Real average hourly earnings, year-over-year, August (+1.1% previously)Earnings: Cracker Barrel (CBRL)Thursday Economic data: Initial jobless claims (216,000 previously); Retail sales, month-over-month, August (+0.1% expected, +0.7% previously); Retail sales ex auto and gas, August (0.0% expected, +1% previously); Producer Price Index, month-over-month, August (+0.4% expected, +0.3% previously); PPI, year-over-year, August (+1.5% expected; +0.8% previously); Core PPI, month-over-month, August (+0.2% expected, +0.3% previously); Core PPI, year-over-year, August (+2.6% expected; +2.8% previously)Earnings: Adobe (ADBE), Lennar (LEN)Friday Economic data: Import prices, month-over-month, August (+0.3% expected, +0.4% previously); Export prices, month-over-month, August (+0.3% expected, +0.7% previously); Empire Manufacturing, September (-10.7 expected, -19 previously); Industrial production, month-over-month, August (+0.1% expected, +0.5 prior); University of Michigan consumer sentiment, September, preliminary (69.4 expected, 69.5 previously)Earnings: No notable companies set to report.Josh Schafer is a reporter for Yahoo Finance.Click here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance | Yahoo Finance | "2023-09-10T14:00:49" | Inflation, iPhones, and looming auto strikes: What to know this week | https://finance.yahoo.com/news/inflation-iphones-and-looming-auto-strikes-what-to-know-this-week-140049476.html | d5946258-9392-4d98-92a7-5d6df965579f |
AAPL | Here's how to handle the battered market rally. The Apple iPhone 15 looms with earnings from AI giants Adobe and Oracle. Tesla stock got a big price target hikeContinue reading | Investor's Business Daily | "2023-09-11T02:51:02" | Dow Jones Futures Rise For Ailing Market Rally; Tesla Stock Gets Huge Price Target Hike | https://finance.yahoo.com/m/adf86857-6fcf-31e1-aae0-fab15e31db5c/dow-jones-futures-rise-for.html | adf86857-6fcf-31e1-aae0-fab15e31db5c |
ABBV | Shares of Alector ALEC rose 6.8% on Thursday after management announced that it achieved the enrolment target in the phase II INVOKE-2 study on its Alzheimer’s disease (“AD”) candidate, AL002. The candidate is being co-developed with AbbVie ABBV.Alector expects data from the study before this year’s end.Based on this study's results, management will decide whether to advance the candidate to pivotal late-stage development.The INVOKE-2 study is evaluating the safety and efficacy of AL002 in slowing disease progression in individuals with early AD. The study participants are randomized to receive either AL002 or a placebo administered intravenously every four weeks for a treatment period lasting up to 96 weeks.The primary endpoint of the INVOKE-2 study is disease progression, as measured by the Clinical Dementia Rating Sum of Boxes (“CDR-SB”) scale. The CDR-SB is a numerical scale that measures the severity of AD indication. In addition, the study will also assess microglial activation and Alzheimer’s pathophysiology using cerebrospinal fluid and plasma biomarkers.In the year so far, shares of Alector have lost 39.2% compared with the industry’s 13.8% fall.Zacks Investment ResearchImage Source: Zacks Investment ResearchA humanized monoclonal antibody, AL002 targets triggering receptor expressed on myeloid cells 2 (“TREM2”) to improve cell survival and microglia activity.Alector signed a global strategic collaboration with AbbVie in 2017 to co-develop and market therapeutics targeting AD and other neurodegenerative indications. Per the terms of the partnership, Alector granted AbbVie an exclusive option for global rights to the development and commercialization of AL002. If AbbVie exercises its option for the program, Alector would be eligible to receive milestone payments of up to $487.5 million. Both companies will share the development costs and profits equally post regulatory approvals.The AD target market is highly competitive as several other pharma companies like Biogen BIIB and Eli Lilly LLY have their drugs targeting the AD indication. The Alzheimer’s drugs of these companies have either recently been approved for use or are under regulatory review development.Story continuesThis July, the FDA granted full approval to Biogen’s AD drug Leqembi (lecanemab). Following approval, the Biogen drug is the first and only approved anti-amyloid antibody treatment shown to reduce the rate of disease progression and slow cognitive impairment in the early and mild dementia stages of AD indication. Since Biogen’s Leqembi received full/standard approval from the FDA, it is also eligible for broader Medicare coverage. Such coverage is crucial for a wider rollout of treatment.Eli Lilly developed donanemab, its antibody therapy for AD. In June, Lilly reported positive data from the phase III TRAILBLAZER-ALZ 2 study that showed that treatment with donanemab significantly slowed cognitive and functional decline in people with early symptomatic AD. Based on this result, Eli Lilly has submitted regulatory applications with the FDA and EMA for the drug to treat AD. A final decision in the United States is expected before year-end.With no marketed drugs, Alector is solely dependent on its pipeline development for growth, Apart from AL002, Alector is also developing its lead pipeline candidate AL001 in a late-stage study for frontotemporal dementia (FTD) with progranulin mutation (FTD-GRN). The candidate is being developed in collaboration with GSK. AL002 is also being developed in an early-stage study for AD indication.The successful development of these pipeline candidates will likely boost Alector’s prospects. The company’s partnerships with pharma big-wigs like AbbVie and GSK are also a positive as compared to Alector, these companies already have years of drug-development experience and well-established drug distribution and supply chain.Alector, Inc. Price Alector, Inc. PriceAlector, Inc. price | Alector, Inc. Quote Zacks RankAlector sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.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 reportBiogen Inc. (BIIB) : Free Stock Analysis ReportEli Lilly and Company (LLY) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportAlector, Inc. (ALEC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research | Zacks | "2023-09-08T16:10:00" | Alector (ALEC) Up 7% on Finishing Enrolment in Alzheimer Study | https://finance.yahoo.com/news/alector-alec-7-finishing-enrolment-161000634.html | adae1e64-99ee-393a-84e4-1973b49e4408 |
ABBV | Over the past year, many AbbVie Inc. (NYSE:ABBV) insiders sold a significant stake in the company which may have piqued investors' interest. When analyzing insider transactions, it is usually more valuable to know whether insiders are buying versus knowing if they are selling, as the latter sends an ambiguous message. However, if numerous insiders are selling, shareholders should investigate more.Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing. Check out our latest analysis for AbbVie The Last 12 Months Of Insider Transactions At AbbVieOver the last year, we can see that the biggest insider sale was by the Chairman & CEO, Richard Gonzalez, for US$12m worth of shares, at about US$149 per share. So we know that an insider sold shares at around the present share price of US$149. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. We note that this sale took place at around the current price, so it isn't a major concern, though it's hardly a good sign.Insiders in AbbVie didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!insider-trading-volumeIf you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).AbbVie Insiders Are Selling The StockThe last three months saw significant insider selling at AbbVie. In total, Chairman & CEO Richard Gonzalez dumped US$12m worth of shares in that time, and we didn't record any purchases whatsoever. Overall this makes us a bit cautious, but it's not the be all and end all.Insider Ownership Of AbbVieLooking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. AbbVie insiders own about US$280m worth of shares (which is 0.1% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.Story continuesSo What Does This Data Suggest About AbbVie Insiders?An insider sold stock recently, but they haven't been buying. And even if we look at the last year, we didn't see any purchases. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Every company has risks, and we've spotted 4 warning signs for AbbVie you should know about.If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.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. | Simply Wall St. | "2023-09-10T13:00:31" | Possible Bearish Signals With AbbVie Insiders Disposing Stock | https://finance.yahoo.com/news/possible-bearish-signals-abbvie-insiders-130031640.html | cd857f5b-74bd-33c7-b2f9-0c7ff61c2d41 |
ABNB | New York City is working with booking service platforms such as Airbnb to enforce what is effectively a ban on any short-term apartment rentals not registered with the city. New York City adopted the Short-Term Rental Registration Law at the beginning of 2022, but it wasn't enforced until Sept. 5. Also, it prohibits booking service platforms like Airbnb from processing transactions for unregistered short-term rentals.Continue reading | Investopedia | "2023-09-10T13:34:14" | Early Impacts of New York City's 'De Facto Ban' on Airbnbs | https://finance.yahoo.com/m/3c0704dd-6833-39e5-a0bc-b7b348cbecb2/early-impacts-of-new-york.html | 3c0704dd-6833-39e5-a0bc-b7b348cbecb2 |
ABNB | In this piece, we will take a look at ten travel stocks billionaires are loading up on. If you want to skip our analysis of the recent events in the travel industry, then take a look at 5 Travel Stocks Billionaires Are Loading Up On. The travel industry has seen disruption in one form or the other over the past four years, and a tough economic environment after the coronavirus pandemic has hampered recovery. Some sectors, such as airlines that were forced to fly routes just to keep them running and cruise companies that saw ships stranded at ports, faced crises that perhaps few would believe were possible before they happened.Like the broader economy, such as industrial production and logistics, the global benchmark crude oil prices determine the ease of the cost of doing business for travel companies as well. These prices have been fluctuating since the start of 2022 and after a respite earlier this year as oil investors remained optimistic about sufficient demand for their products, the latter half of 2023 is seeing oil prices soar again. A big reason behind the high oil prices is the need for oil producing countries to balance their budgets as demand expectations from China start to wither down. The world's second largest economy in nominal terms and the biggest in purchasing power parity is dealing with a set of problems that are worrying investors.The travel industry depends on discretionary income, and recent trends indicate that consumers might start having less of this since gas prices in America have risen. To understand the impact that all these events have made, consider the story of Expedia Group, Inc. (NASDAQ:EXPE). Ever since inflation started to rise in early 2022, Expedia's shares started on a downward run. These troubles are also visible when looking at the stock of Airbnb, Inc. (NASDAQ:ABNB). While the stock has still performed better than Expedia, the shares nevertheless have posted a 4.72% gain over the past five years. During the same time period, the S&P 500 is up by a strong 53%, gains that outpace the return offered by major airlines such as Delta Air Lines, Inc. (NYSE:DAL) (down 29.54%) and American Airlines Group Inc. (NASDAQ:AAL) (down 64.82%).Story continuesThe turmoil faced by the airlines and the hospitality firms is nothing when we take a look at cruise ship operators. Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) still haven't recovered from the coronavirus-induced sell off, and are down 24.7% over the past five years. However, if you think this is bad, then you'd be glad you hadn't bought Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in 2020 since its stock is down by a stunning 70% over the past five years. We've covered the shock to the cruise ship industry in detail as part of our coverage of 10 Best Cruise Stocks To Buy Now so check it out if you want to see just how bad things were for the companies, their employees, and the travelers stuck on vessels.Yet, even though the travel industry is down, it doesn't mean it's dusted for. The global economy should recover at some point in time, even as China struggles to move to pre-coronavirus levels and Europe - led by Germany - struggles to find economic stability. International tourism is expected to touch 95% of pre-pandemic levels this year, and Europe is one of the regions that is leading the recovery. Data from the United Nations' World Tourism Organization (WTO) shows that while international tourism had recovered to 65% of pre pandemic levels in 2022, the European sector had recovered to 80% and Western Europe to 87%.This recovery is also affecting the ticket prices between Europe and the U.S. Combined with high fuel prices, airlines and other firms have to scale up their operations as product demand increases. This scaling costs money, which is why prices go up during periods of high demand. As to what the situation in the industry was as the second half of 2023 kicked off, here's what the management of American Express Company (NYSE:AXP) had to say during the firm's second quarter of 2023 earnings call:We continue to see strong growth in Travel and Entertainment spending, which increased by double-digits in the quarter and remains strong across customer categories and geographies. Q2 was a record quarter for restaurant reservations through our Resy platform and bookings through our consumer travel business reached their highest levels since before the pandemic.. . . And look, I mean, just look at consumer, right? I mean consumer in the U.S. is up at 10%. T&E is still very, very strong. We talked about travel bookings, travel bookings more than one month out are higher than they’ve been pre-pandemic. They are higher than they were at this time last year. They were higher than they were, obviously, in 2019. International is really coming back strong for us. And as we said, it’s a fastest growing part of our business. And the other thing I’ll point out is you just had — you had a little hangover of noise from Omicron in this quarter because last year, you had a little bit of spending that was pushed from the first quarter to the second quarter. And if you look at — if you go back and look sequentially last year was a huge increase sequentially quarter-over-quarter.So, with these details in mind, we decided to take a look at which travel stocks billionaires are buying. Some top stock picks are Expedia Group, Inc. (NASDAQ:EXPE), Airbnb, Inc. (NASDAQ:ABNB), and Booking Holdings Inc. (NASDAQ:BKNG).Travel Stocks Billionaires Are Loading Up OnPhoto by Artur Voznenko on UnsplashOur Methodology To compile our list of travel stocks being bought by billionaires, we first compiled a list of the largest companies categorized as travel services by Yahoo Finance. Then, the number of billionaires that had bought their shares during Q1 2023 was determined through Insider Monkey's research, and for updated coverage, the number of hedge funds that had bought their shares as of Q2 2023 is also provided. The stocks are listed according to the number of hedge fund investors since this is the more up to date data set.10 Travel Stocks Billionaires Are Loading Up On10. Sabre Corporation (NASDAQ:SABR)Number of Billionaire Investors: 8Number of Hedge Fund Investors: 28Sabre Corporation (NASDAQ:SABR) is a technology company that allows business travelers to plan their trips and hotels to manage their operations. Its stock is down 18% year to date and analysts have rated the shares as Hold on average.During this year's first quarter, eight billionaires had bought Sabre Corporation (NASDAQ:SABR)'s shares and in the next quarter, 28 out of the 910 hedge funds part of Insider Monkey's database were shareholders. Out of these, the company's largest investor is Terry Smith's Fundsmith LLP since it owns 22 million shares that are worth $72 million.Along with Airbnb, Inc. (NASDAQ:ABNB), Expedia Group, Inc. (NASDAQ:EXPE), and Booking Holdings Inc. (NASDAQ:BKNG), Sabre Corporation (NASDAQ:SABR is a travel stock that billionaires are loading up on.9. Travel + Leisure Co. (NYSE:TNL)Number of Billionaire Investors: 10 Number of Hedge Fund Investors: 33 Travel + Leisure Co. (NYSE:TNL) operates travel businesses and runs other operations. The firm's second quarter earnings results show that revenue and operating income dropped by 5% and 3% respectively. The stock also has a strong 4.59% dividend yield due to its 45 cent dividend.By the end of 2023's second quarter, 33 hedge funds out of the 910 that were surveyed by Insider Monkey had invested in Travel + Leisure Co. (NYSE:TNL)8. Tripadvisor, Inc. (NASDAQ:TRIP)Number of Billionaire Investors: 9 Number of Hedge Fund Investors: 33 Tripadvisor, Inc. (NASDAQ:TRIP) enables travelers to plan and execute their itineraries. Like other travel companies, its shares are also down by 14% year to date, and the second quarter didn't help either since core revenue struggled.After sifting through 910 hedge funds for their Q2 2023 shareholdings, Insider Monkey discovered that 33 had held a stake in the company. Tripadvisor, Inc. (NASDAQ:TRIP)'s biggest hedge fund shareholder is Paul Reeder and Edward Shapiro's PAR Capital Management due to its $89 million investment.7. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)Number of Billionaire Investors: 7 Number of Hedge Fund Investors: 35The first cruise company stock on our list, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), is up by 37% year to date but down by a whopping 70% over the past five years. The stock tanked in January 2020 and as is evident, it still hasn't recovered.As of June 2023, 35 out of the 910 hedge funds profiled by Insider Monkey were Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) investors. John W. Rogers' Ariel Investments is the firm's biggest stakeholder, through a stake worth $144 million.6. Carnival Corporation & plc (NYSE:CCL)Number of Billionaire Investors: 7 Number of Hedge Fund Investors: 40 Carnival Corporation & plc (NYSE:CCL) is one of the biggest cruise companies in the world with close to a hundred ships in its fleet. Its stock has done rather well this year, as the shares have gained 91% year to date. However, insiders have sold more than $1 million of shares over the past year or so, in a worrying development.Insider Monkey dug through 910 hedge funds for their second quarter of 2023 shareholdings and discovered that 40 had bought Carnival Corporation & plc (NYSE:CCL)'s shares. Out of these, the largest shareholder is Josh Overdeck and David Siegel's Two Sigma Advisors since it owns $192 million of shares.Expedia Group, Inc. (NASDAQ:EXPE), Carnival Corporation & plc (NYSE:CCL), Airbnb, Inc. (NASDAQ:ABNB), and Booking Holdings Inc. (NASDAQ:BKNG) are some top travel stocks billionaires are buying. Click to continue reading and see 5 Travel Stocks Billionaires Are Loading Up On. Suggested articles:12 Cheap Travel Stocks to Buy Now10 Biotech Stocks with Biggest Upside20 Most Dangerous Countries for LGBTQ+ American TravelersDisclosure: None. 10 Travel Stocks Billionaires Are Loading Up On in 2023 in 2023 is originally published on Insider Monkey. | Insider Monkey | "2023-09-10T19:23:22" | 10 Travel Stocks Billionaires Are Loading Up On | https://finance.yahoo.com/news/10-travel-stocks-billionaires-loading-192322831.html | 47853206-9231-3f0d-b16e-d3ceee39b709 |
ABT | AbbottNORTHAMPTON, MA / ACCESSWIRE / September 7, 2023 / As a global company with a broad range of businesses, operations in over 160 countries and 115,000 people around the world, diversity is inherent to our business and organization.The Billion Dollar Roundtable (BDR) is an organization dedicated to inspiring America's leading companies to expand and grow their work with diverse businesses across the country. They set a high bar - to join the BDR, companies need to spend $1 billion or more with diverse suppliers, every year. It's an important benchmark for demonstrating the positive impact that businesses can have in improving lives and advancing opportunity in diverse communities.At the annual BDR Summit recently held in Chicago, Abbott was proud to be inducted into the exclusive group of Billion Dollar Roundtable members. We've made significant progress in expanding our work with diverse suppliers in recent years. We currently work with more than 1,300 diverse suppliers, including certified minority-, women-, disabled-, LGBTQ-, and veteran-owned businesses, spending $1.7 billion in 2022, an increase of 63% from the prior year.Supplier diversity is an integral part of our broader work to build a resilient and sustainable supply chain, and our commitment to diversity, equity and inclusion. A wider pool of potential suppliers helps strengthen supply chain resilience and ensure business continuity, and also promotes competition in the supply chain, which can enhance products and services and decrease costs.This work is having a significant economic impact as well. A recent analysis showed that our supplier diversity efforts have supported over 7,500 jobs and generated over $4.5 billion in economic impact in the communities where we operate across the U.S.Delivering Even Greater Impact in the Years AheadOur inclusion in the Billion Dollar Roundtable is an important milestone. But we know it's not just about purchasing more products and services from diverse companies.Story continuesDiverse owners of small companies face real barriers in growing their businesses. Half of diverse businesses can't get a loan. And in healthcare, strict regulations and systemic budget challenges make it hard to compete with bigger, more established rivals.That's why we're working with others to help address these gaps. One example: the Abbott-LISC Initiative to Support Diverse Businesses in Health is investing more than $37 million to provide diverse small businesses with the resources and support they need to compete, grow and create jobs in the healthcare industry. For more on these efforts, please see our story on the LISC collaboration.View additional multimedia and more ESG storytelling from Abbott on 3blmedia.com.Contact Info:Spokesperson: AbbottWebsite: https://www.3blmedia.com/profiles/abbottEmail: [email protected]: AbbottView source version on accesswire.com: https://www.accesswire.com/781824/abbott-joins-billion-dollar-roundtable | ACCESSWIRE | "2023-09-07T17:15:00" | Abbott Joins Billion Dollar Roundtable | https://finance.yahoo.com/news/abbott-joins-billion-dollar-roundtable-171500002.html | 754f6928-2fc4-3f6b-97f2-3f1575a5fb8f |
ABT | If you add both of these types of stocks to your portfolio, you're likely to benefit over the long haul. Three great examples are healthcare companies Abbott Laboratories (NYSE: ABT) and Johnson & Johnson (NYSE: JNJ) and beverage powerhouse Coca-Cola (NYSE: KO).Continue reading | Motley Fool | "2023-09-09T09:00:00" | 3 No-Brainer Dividend Stocks to Buy No Matter What the Market Is Doing | https://finance.yahoo.com/m/d83c8714-05c3-3728-975e-adfb51d73637/3-no-brainer-dividend-stocks.html | d83c8714-05c3-3728-975e-adfb51d73637 |
AC | Associated Capital Group, Inc.GREENWICH, Conn., Aug. 22, 2023 (GLOBE NEWSWIRE) -- Associated Capital Group, Inc. (NYSE: AC) has set October 15, 2023 as the record date for its 2023 Shareholder Designated Charitable Contribution (“SDCC”). AC previously announced the approval of a $0.20 per share SDCC for all registered Class A and Class B shareholders. To be eligible, shareholders will have until October 15, 2023 to register shares directly with Computershare, AC’s transfer agent. Shareholders can then designate a 501(c)(3) charitable organization to receive the $0.20 per share SDCC.Based on the 21.7 million shares currently outstanding, AC’s total contribution will be approximately $4.3 million. In late October, AC will provide forms to registered holders to designate recognized 501(c)(3) charitable organizations. There will also be an option to designate charitable organizations through our website www.associated-capital-group.com/donate. A list of eligible charities is available at Guidestar.org (https://www.guidestar.org/search).Since its inception as a public company, through the SDCC, the shareholders of AC have donated approximately $38 million to over 190 different charities that address a broad range of local, national, and international concerns.About Associated Capital Group, Inc.Associated Capital, based in Greenwich, Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA”). We have also earmarked proprietary capital for our direct investment business that invests in new and existing businesses. The direct investment business is developing along several core pillars, including Gabelli Private Equity Partners, LLC (“GPEP”) which was formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor. We also created Gabelli Principal Strategies Group, LLC (“GPS”) in December 2015 to pursue strategic operating initiatives.Story continuesSPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATIONOur disclosure and analysis in this press release contain “forward-looking statements”. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.Contact:Ian J. McAdamsInterim Co-Chief Financial Officer (914) 921-5078 [email protected] | GlobeNewswire | "2023-08-22T20:15:00" | Associated Capital Group Sets Record Date for 2023 Shareholder Designated Charitable Contribution | https://finance.yahoo.com/news/associated-capital-group-sets-record-201500844.html | 4b1e486b-05dd-34f0-b568-297369f745ba |
AC | MONTREAL, Aug. 31, 2023 /CNW/ - Air Canada today released the 2022 edition of Citizens of the World, detailing the airline's approach, commitments and progress respecting its environmental, social and governance activities and performance throughout 2022. The report also outlines Air Canada's ambitions for the future.Air Canada Highlights ESG Accomplishments with 2022 Citizens of the World Corporate Sustainability Report (CNW Group/Air Canada)"Last year was a pivotal one for our business. We celebrated our 85th anniversary and recovered from the pandemic's effects on our industry, all while advancing our ESG priorities. As Canada's flag carrier, we connect Canada to the world, and we are acutely aware of the responsibility we have toward the communities we fly to and our planet. We have developed corporate priorities to improve our operations while caring for our customers, our employees and our communities, as well as preserving the planet we help people explore," said Michael Rousseau, President and Chief Executive Officer at Air Canada."We believe in the importance of taking care of one another. We lift each other up by creating a safe, healthy and inclusive environment, where our colleagues can grow and thrive, and our customers always feel welcome. Our next chapters may be challenging, but we are as determined as ever to deliver the care and class that Air Canada is known for, in a sustainable way."Citizens of the World, Air Canada's 2022 Corporate Sustainability Report, is available at aircanada.com/citizensoftheworld. It describes how the airline integrates environmental, social and governance factors into its daily operations through three sustainability pillars: Business, People and Planet. To ensure transparency, integrity and accountability, an independent third party was retained for a limited assurance engagement on select performance indicators.Highlights of this year's report include:Agreement to purchase 30 ES-30 electric-hybrid regional aircraft under development by Heart Aerospace and to invest US$5 million (approximately C$7 million) in the company.Introduction of CHOOOSE, a global climate technology company, as our new carbon offset program provider, with the option for customers to purchase verified carbon offsets now seamlessly integrated into the airline's Canadian and U.S. booking websites.Investment of $6.75 million into Canada-based climate solutions company Carbon Engineering (CE), supporting the advancement of CE's direct air capture (DAC) technology that pulls carbon dioxide directly out of the air at large, industrial scale.Recruitment of eight corporate accounts (corporate and cargo) to the Leave Less Travel Program, designed for corporate customers and offering effective options to offset or reduce GHG emissions that are related to business travel and to reduce our carbon footprint.First report aligned to the Task Force on Climate-related Financial Disclosures (TCFD), published in 2022.Air Canada was named one of the World's Best Employers and one of Canada's Best Diversity Employers by Forbes for 2022.Several Employee Resource Groups (ERGs) were formalized, providing representation and a conduit for employee feedback for various identity groups, and corporate ambassadors were introduced.285 charities supported by the Air Canada Foundation in 2022 with over $1.6 million disbursed to 41 organizations that are focused on the health and well-being of children.Additional 250 community organizations were supported in 2022, as well as over 300 events, initiatives or memberships across Canada and internationally.More than 550 Air Canada employees participated in volunteer activities through the Air Canada Foundation.Story continuesAbout Air Canada Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, where members can earn or redeem points on the world's largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental rewards. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada's passenger and freighter aircraft. Air Canada aims to achieve an ambitious net zero emissions goal from all global operations by 2050. Air Canada shares are publicly traded on the TSX in Canada and the OCTQX in the U.S.Internet: aircanada.com/mediaRead Our Annual Report HereSign up for Air Canada news: aircanada.comMedia Resources: PhotosVideosB-RollArticlesSOURCE Air CanadaCisionView original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2023/31/c8360.html | CNW Group | "2023-08-31T12:00:00" | Air Canada Highlights ESG Accomplishments with 2022 Citizens of the World Corporate Sustainability Report | https://finance.yahoo.com/news/air-canada-highlights-esg-accomplishments-120000576.html | 6eb59f59-50b1-32cd-a0bb-301225d6a6ca |
ACCD | Accolade, Inc.SEATTLE, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Accolade, Inc. (NASDAQ: ACCD), a healthcare provider that serves millions of members, today announced that it will be presenting at the following upcoming investor conferences:2023 Wells Fargo Healthcare Conference in Boston on Friday, September 8, 2023 at 8:00 am ET.Morgan Stanley 21st Annual Global Healthcare Conference in New York on Tuesday, September 12, 2023 at 8:10 am ETA webcast of these events will be available at ir.accolade.com and a replay will be available for 90 days.About Accolade, Inc.Accolade (Nasdaq: ACCD) is a Personalized Healthcare company that provides millions of people and their families with exceptional healthcare experiences so they can live their healthiest lives. Accolade’s employer, health plan, and consumer solutions combine virtual primary care and mental health, expert medical opinion, and best-in-class care navigation. These offerings are built on a platform that is engineered to care through predictive engagement of population health needs, proactive care that improves outcomes and cost savings, and by addressing barriers to access and continuity of care. Accolade consistently receives consumer satisfaction ratings of over 90%. For more information, visit accolade.com. Follow us on LinkedIn, Twitter, Instagram and Facebook.Investor Contact:Todd Friedman, Investor Relations, [email protected]: Accolade | GlobeNewswire | "2023-09-05T12:00:00" | Accolade To Present at Upcoming Investor Conferences | https://finance.yahoo.com/news/accolade-present-upcoming-investor-conferences-120000515.html | 578d778e-ee4c-3b80-931a-67792282d7fe |
ACCD | Accolade, Inc.SEATTLE, Sept. 06, 2023 (GLOBE NEWSWIRE) -- In a release issued under the same headline on Sept. 5, 2023 by Accolade, Inc. (NASDAQ: ACCD), please note that in the second bullet, the time of the Morgan Stanley presentation should be 1:35 pm ET, not 8:10 am ET as previously stated. The corrected release follows:Accolade, Inc. (NASDAQ: ACCD), a healthcare provider that serves millions of members, today announced that it will be presenting at the following upcoming investor conferences:2023 Wells Fargo Healthcare Conference in Boston on Friday, September 8, 2023 at 8:00 am ET.Morgan Stanley 21st Annual Global Healthcare Conference in New York on Tuesday, September 12, 2023 at 1:35 pm ETA webcast of these events will be available at ir.accolade.com and a replay will be available for 90 days.About Accolade, Inc.Accolade (Nasdaq: ACCD) is a Personalized Healthcare company that provides millions of people and their families with exceptional healthcare experiences so they can live their healthiest lives. Accolade’s employer, health plan, and consumer solutions combine virtual primary care and mental health, expert medical opinion, and best-in-class care navigation. These offerings are built on a platform that is engineered to care through predictive engagement of population health needs, proactive care that improves outcomes and cost savings, and by addressing barriers to access and continuity of care. Accolade consistently receives consumer satisfaction ratings of over 90%. For more information, visit accolade.com. Follow us on LinkedIn, Twitter, Instagram and Facebook.Investor Contact:Todd Friedman, Investor Relations, [email protected]: Accolade | GlobeNewswire | "2023-09-06T18:08:00" | CORRECTING and REPLACING -- Accolade To Present at Upcoming Investor Conferences | https://finance.yahoo.com/news/correcting-replacing-accolade-present-upcoming-180800112.html | 67c955fc-b543-365b-a27b-c8e367e41bcf |
ACGL | Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.Should You Buy #1 (Strong Buy)-Ranked Arch Capital Group (ACGL) for Your Portfolio?Arch Capital Group was upgraded to the Zacks Rank #1 list on August 3, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.Established in 1995 and headquartered in Pembroke, Bermuda, Arch Capital Group Ltd. offers insurance, reinsurance and mortgage insurance across the world. Through its wholly owned subsidiaries, the property and casualty (P&C) insurer provides a wide range of products and services, which include primary and excess casualty coverages, professional indemnity, workers compensation and umbrella liability and employers liability insurance coverages to name a few. The company offers a full range of property, casualty and mortgage insurance and reinsurance lines, while maintaining focus on writing specialty lines of insurance and reinsurance.For fiscal 2023, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.48 to $6.73 per share. ACGL boasts an average earnings surprise of 26.8%.Earnings are forecasted to see growth of 38.2% for the current fiscal year, and sales are expected to increase 30.6%.ACGL has been moving higher over the past four weeks as well, up 1.7% compared to the S&P 500's loss of 1.3%.Bottom LineWith a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Arch Capital Group could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.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 reportArch Capital Group Ltd. (ACGL) : Free Stock Analysis ReportZacks Investment Research | Zacks | "2023-09-08T13:40:02" | The Zacks Rank Explained: How to Find Strong Buy Finance Stocks | https://finance.yahoo.com/news/zacks-rank-explained-strong-buy-134002426.html | 882372e5-057d-3e3d-aab6-d14ab98e1a3e |
ACGL | Low-beta stocks can provide several beneficial advantages for portfolios, including stability, defensive qualities, and stabilization when combined with high-beta stocks, helping to provide a more balanced risk profile.And for those seeking a less volatile approach, three low-beta stocks – Arch Capital Group ACGL, Allison Transmission Holdings ALSN, and Dr. Reddy’s Laboratories RDY – could be considered. All three sport a favorable Zacks Rank, carry solid growth, and sport sound valuations.Let’s take a closer look at each.Arch Capital GroupArch Capital Group, a current Zacks Rank #1 (Strong Buy), writes insurance, reinsurance, and mortgage insurance worldwide. Earnings expectations have jumped higher across the board, reflecting optimism among analysts.Zacks Investment ResearchImage Source: Zacks Investment ResearchShares aren’t expensive given the company’s forecasted growth, with earnings forecasted to climb nearly 40% in its current year on 30% higher revenues. Shares currently trade at an 11.6X forward earnings multiple (F1), beneath the 12.6X five-year median and the respective Zacks – Insurance industry average.Zacks Investment ResearchImage Source: Zacks Investment ResearchIt’s worth noting that the company has been a consistent earnings performer, exceeding Zacks Consensus Estimates in five consecutive quarters. In its latest release in late July, ACGL penciled in a 16% EPS beat and posted a positive 2.3% revenue surprise.Allison Transmission HoldingsAllison Transmission is the largest producer of fully automatic transmissions for medium, heavy-duty commercial, and heavy-tactical U.S. defense vehicles. The company has seen positive earnings estimate revisions among all timeframes, landing it into a Zacks Rank #1 (Strong Buy).Zacks Investment ResearchImage Source: Zacks Investment ResearchALSN shares could also attract those who prefer income, currently yielding 1.6% annually. And the company has been committed to increasingly rewarding shareholders, sporting a 10% five-year annualized dividend growth rate.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchThe company’s current 8.4X forward earnings multiple certainly isn’t expensive, beneath the 9.5X five-year median and the 20.8X average of the Zacks – Autos/Tires/Trucks industry average. Allison Transmission is forecasted to see 25% EPS growth on 10% higher revenues in its current year.Dr. Reddy’s LaboratoriesDr. Reddy's Laboratories, a current Zacks Rank #1 (Strong Buy), is an integrated global pharmaceutical company engaged in providing affordable and innovative medicines. No different than those above, the company has enjoyed favorable earnings estimate revisions.Zacks Investment ResearchImage Source: Zacks Investment ResearchRDY shares presently trade at a 17.9X forward earnings multiple, reflecting a 41% discount relative to the Zacks – Drugs industry average and well below 2022 highs of 28.6X. The company is forecasted to see 15% EPS Growth paired with a 10% revenue bump in its current year (FY24).Zacks Investment ResearchImage Source: Zacks Investment ResearchLike ALSN, income-focused investors could find RDY shares attractive, with shares currently yielding a respectable 0.6% annually paired with a sustainable payout ratio sitting at 9% of the company’s earnings. The payout has grown by 3.6% annually over the last five years.Bottom LineLow-beta stocks can provide many beneficial advantages for investors, including a more defensive nature and overall portfolio balance.And for those seeking this approach, all three low-beta stocks above – Arch Capital Group ACGL, Allison Transmission Holdings ALSN, and Dr. Reddy’s Laboratories RDY – could be great considerations.All three sport a favorable Zacks Rank, carry sound valuation pictures, and sport solid growth profiles for their current and subsequent fiscal years.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 reportDr. Reddy's Laboratories Ltd (RDY) : Free Stock Analysis ReportAllison Transmission Holdings, Inc. (ALSN) : Free Stock Analysis ReportArch Capital Group Ltd. (ACGL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research | Zacks | "2023-09-08T18:51:00" | These 3 Low-Beta Stocks Sport High Growth | https://finance.yahoo.com/news/3-low-beta-stocks-sport-185100956.html | f2d7680f-c4a3-3bee-a5ab-59e85bc16785 |
ACHC | Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.Why Investors Should Pay Attention to This Value StockValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, and Price/Cash Flow, the Value Style Score identifies the most attractive and most discounted stocks.Acadia Healthcare (ACHC)Headquartered in Franklin, TN, Acadia Healthcare Company, Inc. (ACHC) provides behavioral health care services in the United States and the United Kingdom.ACHC sits at a Zacks Rank #3 (Hold), holds a Value Style Score of B, and has a VGM Score of B. Compared to the Medical - Hospital industry's P/E of 14.4X, shares of Acadia Healthcare are trading at a forward P/E of 23.1X. ACHC also has a PEG Ratio of 2, a Price/Cash Flow ratio of 17.8X, and a Price/Sales ratio of 2.6X.A company's earnings performance is important for value investors as well. For fiscal 2023, five analysts revised their earnings estimate higher in the last 60 days for ACHC, while the Zacks Consensus Estimate has increased $0.12 to $3.35 per share. ACHC also holds an average earnings surprise of 2.8%.ACHC should be on investors' short lists because of its impressive earnings and valuation fundamentals, a good Zacks Rank, and strong Value and VGM Style Scores.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 reportAcadia Healthcare Company, Inc. (ACHC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research | Zacks | "2023-08-30T13:40:04" | Here's Why Acadia Healthcare (ACHC) is a Strong Value Stock | https://finance.yahoo.com/news/heres-why-acadia-healthcare-achc-134004616.html | 264bebb0-fe39-3409-a811-cfbe134dfdc5 |
ACHC | FRANKLIN, Tenn., September 01, 2023--(BUSINESS WIRE)--Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that the Company will participate in the 2023 Wells Fargo Healthcare Conference, September 6 - 8, 2023, in Boston.In connection with the conference, there will be an online webcast of the Company’s presentation available on the Company’s website starting at 9:30 a.m. Eastern Time / 8:30 a.m. Central Time on Wednesday, September 6, 2023.The live webcast of the presentation will be available on the Company’s website, www.acadiahealthcare.com, by clicking on the "Investors" link. A replay of the presentation will also be available on the Company’s website for 30 days.About AcadiaAcadia is a leading provider of behavioral healthcare services across the United States. As of June 30, 2023, Acadia operated a network of 250 behavioral healthcare facilities with approximately 11,000 beds in 39 states and Puerto Rico. With approximately 23,000 employees serving more than 75,000 patients daily, Acadia is the largest stand-alone behavioral healthcare company in the U.S. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.View source version on businesswire.com: https://www.businesswire.com/news/home/20230901229741/en/ContactsGretchen HommrichVice President, Investor Relations(615) 861-6000 | Business Wire | "2023-09-01T13:00:00" | Acadia Healthcare to Participate in 2023 Wells Fargo Healthcare Conference | https://finance.yahoo.com/news/acadia-healthcare-participate-2023-wells-130000265.html | b6db3ca2-1a18-3ddf-a26a-df0a9d00bcf0 |
ACLS | Strong support for Axcelis appears at $160, but if it fails, $120 is easily the next step down for ACLS stock.Continue reading | Investor's Business Daily | "2023-09-08T19:21:25" | ACLS Stock Today: Why A Bullish Combination Spread Trade In Axcelis Could Work Amid Current Stock Market Volatility | https://finance.yahoo.com/m/f3646625-672e-3529-8e97-220dcd100af3/acls-stock-today-why-a.html | f3646625-672e-3529-8e97-220dcd100af3 |
ACLS | If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at the ROCE trend of Axcelis Technologies (NASDAQ:ACLS) we really liked what we saw.What Is Return On Capital Employed (ROCE)?For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Axcelis Technologies, this is the formula:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.26 = US$224m ÷ (US$1.1b - US$248m) (Based on the trailing twelve months to June 2023).So, Axcelis Technologies has an ROCE of 26%. That's a fantastic return and not only that, it outpaces the average of 12% earned by companies in a similar industry. View our latest analysis for Axcelis Technologies roceAbove you can see how the current ROCE for Axcelis Technologies compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Axcelis Technologies.What The Trend Of ROCE Can Tell UsWe like the trends that we're seeing from Axcelis Technologies. The data shows that returns on capital have increased substantially over the last five years to 26%. The amount of capital employed has increased too, by 98%. So we're very much inspired by what we're seeing at Axcelis Technologies thanks to its ability to profitably reinvest capital.The Bottom LineA company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Axcelis Technologies has. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. In light of that, we think it's worth looking further into this stock because if Axcelis Technologies can keep these trends up, it could have a bright future ahead.Story continuesOn a final note, we've found 1 warning sign for Axcelis Technologies that we think you should be aware of.Axcelis Technologies is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.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. | Simply Wall St. | "2023-09-09T14:27:01" | Returns On Capital Are A Standout For Axcelis Technologies (NASDAQ:ACLS) | https://finance.yahoo.com/news/returns-capital-standout-axcelis-technologies-142701995.html | 5022823f-5fad-3d41-a82d-7b9d48dfa178 |
ACN | Workday, Inc. WDAY recently announced that it has extended its collaboration with Accenture to expedite the development of financial management solutions. The collaboration integrates Workday’s technology platform, foundational data model and advanced analytics with Accenture's industry expertise.The objective is to create a data-driven, client-oriented solution for financial planning and analysis to cater to the varied requirements of different industries. This partnership is aligned with Workday's Industry Accelerator initiative, which aims to meet the growing demand for digital transformation across various sectors.CFOs frequently face a multitude of challenges in the evolving business landscape. They need to maintain a delicate equilibrium between profitability and long-term sustainability and expansion. Effective financial management entails strategic planning, risk mitigation, cost optimization and the ability to adapt swiftly to dynamic market conditions.Workday’s financial management technology addresses these issues. It leverages a cloud-native platform powered by advanced AI and ML technology, in conjunction with industry-leading expertise in innovation, to craft highly configurable industry-specific solutions. This allows businesses to streamline their core financial operations while bolstering their resilience to the evolving business environment.Workday’s retail industry solutions encompass in-depth analytics and dashboards, providing detailed insights for retailers to assess store performance. This also features a workforce management solution, which facilitates efficient utilization of the workforce and improves store operations. In the media sector, Workday's offerings cover the monetization of media assets, training of media production and title amortization. In the software and technology domain, Workday’s solution will support enterprises with the customer billing process, revenue planning, spending and cash flow optimization.Salesforce, a leading provider of customer relationship management software, recently utilized Accenture design and execution support with Workday’s financial management tools. This will drive efficiency in Salesforce’s financial processes and offer business insights to streamline its global operations.Workday’s diversified product portfolio continues to yield a steady flow of customers. Its revenue growth continues to be driven by high demand for its HCM (Human Capital Management) and financial management solutions. The company’s cloud-based business model and expanding product portfolio have been the primary growth drivers. Moreover, the growing clout of Workday Prism Analytics and Adaptive Insights business planning cloud offerings holds promise.Workday is expanding its portfolio beyond core HCM solutions into the financial domain and is customizing them for diverse industries and verticals, such as education, the public and financial services, among others. This has helped the company witness strong renewals and expand its customer base as business enterprises aim to consolidate spending and improve efficiency levels.Story continuesManagement is putting a strong focus on integrating advanced AI and ML capabilities. The ongoing AI-powered product development emphasizes natural language generation, content search, summarization, content augmentation and document understanding. This augurs well for the long-term growth of the company.The stock has gained 47.4% in the past year compared with the industry’s growth of 12.9%.Zacks Investment ResearchImage Source: Zacks Investment ResearchWorkday currently carries a Zacks Rank #3 (Hold).Stocks to ConsiderMotorola Solutions, Inc. MSI, carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 5.58%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets.Splunk Inc. SPLK, sporting a Zacks Rank #1, delivered an earnings surprise of 154.90%, on average, in the trailing four quarters. In the last reported quarter, it delivered an earnings surprise of 69.05%.Splunk provides software solutions that enable enterprises to gain real-time operational intelligence by harnessing the value of their data. The company's offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and help in operational decision-making.NVIDIA Corporation NVDA, currently sporting a Zacks Rank #1, delivered an earnings surprise of 9.79%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 29.19%.NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.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 reportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportMotorola Solutions, Inc. (MSI) : Free Stock Analysis ReportSplunk Inc. (SPLK) : Free Stock Analysis ReportWorkday, Inc. (WDAY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research | Zacks | "2023-09-08T16:22:00" | Workday (WDAY), Accenture Team Up to Optimize Finance Management | https://finance.yahoo.com/news/workday-wday-accenture-team-optimize-162200857.html | efbf8d5d-55cc-3d0c-afdb-7732bbaba3d5 |
ACN | Eli Lilly and Accenture are at new highs after earnings. Both stocks are supported by strong technical ratings and are in buy zones.Continue reading | Investor's Business Daily | "2023-09-08T16:27:05" | Drug And Tech Services Stocks Surge To New Highs, Buy Zones With Strong Technical Ratings | https://finance.yahoo.com/m/0eae7d2c-d846-3510-bab9-8a9437545c6e/drug-and-tech-services-stocks.html | 0eae7d2c-d846-3510-bab9-8a9437545c6e |
ACNT | OAK BROOK, Ill., July 25, 2023--(BUSINESS WIRE)--Ascent Industries Co. (Nasdaq: ACNT) ("Ascent" or the "Company"), an industrials company focused on the production and distribution of industrial tubular products and specialty chemicals, will hold a conference call on Tuesday, August 8, 2023, at 5:00 p.m. Eastern time to discuss its financial results for the second quarter ended June 30, 2023. The results will be reported in a press release prior to the conference call.Ascent management will host the conference call, followed by a question and answer period.Date: Tuesday, August 8, 2023Time: 5:00 p.m. Eastern timeLive Call Registration Link: Here Webcast Registration Link: HereTo access the call by phone, please register via the live call registration link above or here and you will be provided with dial-in instructions and details. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860.The conference call will also be broadcast live and available for replay via the webcast registration link above or here. The webcast will be archived for one year in the investor relations section of the Company’s website at www.ascentco.com.About Ascent Industries Co.Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of stainless steel and galvanized pipe and tube, the master distribution of seamless carbon pipe and tube, and the production of specialty chemicals. For more information about Ascent, please visit its web site at www.ascentco.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230725207897/en/ContactsCompany Contact Bill SteckelChief Financial Officer1-630-884-9181Investor Relations Cody Slach and Cody CreeGateway Group, [email protected] | Business Wire | "2023-07-25T12:00:00" | Ascent Industries Sets Second Quarter 2023 Earnings Conference Call for August 8, 2023, at 5:00 p.m. ET | https://finance.yahoo.com/news/ascent-industries-sets-second-quarter-120000520.html | 346ec028-0dfd-3fbb-a2ad-68466706e800 |
ACNT | OAK BROOK, Ill., August 08, 2023--(BUSINESS WIRE)--Ascent Industries Co. (Nasdaq: ACNT) ("Ascent" or the "Company"), an industrials company focused on the production and distribution of industrial tubular products and specialty chemicals, is reporting its results for the second quarter ended June 30, 2023.Second Quarter 2023 Summary – Continuing Operations1(in millions, expect per share and margin)Q2 2023Q2 2022ChangeNet Sales$60.7$84.6-28.3%Gross Profit$3.2$20.2-84.0%Gross Profit Margin5.3%23.9%-1860bpsNet Income (Loss)$(3.7)$10.8-134.8%Diluted Earnings (Loss) per Share$(0.37)$1.04-135.6%Adjusted EBITDA$(1.5)$14.8-110.0%Adjusted EBITDA Margin(2.4)%17.4%-1980bps1On June 2, 2023, the Board of Directors of Ascent made the decision to permanently cease operations at the Company’s welded pipe and tube facility located in Munhall, PA ("Munhall") effective on or around August 31, 2023. As a result, financial results from Munhall have been categorized into discontinued operations.Management Commentary"Challenges related to the strategic changes we’ve implemented over the last several quarters, along with difficult end market conditions impacting demand, continued to persist in the second quarter," said Chris Hutter, president and CEO of Ascent. "Despite this difficult environment, our organization took action by finalizing the permanent closure of our Munhall operations, as well as managing working capital effectively to generate cash and pay down debt. We believe our tubular products segment is on a path to improve through the remainder of the year, while we continue to work on expanding our sales pipeline within the specialty chemicals segment to drive long-term, profitable growth."We remain highly committed to executing our strategic goals and believe the operational changes we’ve made will significantly benefit the Company’s value proposition over the long-term. Although the work is never done, we have made tangible progress to right-size our operational footprint, create a more efficient organization, and implement a refreshed culture based on accountability and performance-based results. We believe the largest hurdles are now behind us and expect to begin seeing improvements through the remainder of the year."Story continuesSecond Quarter 2023 Financial ResultsNet sales from continuing operations were $60.7 million compared to $84.6 million in the prior year period. The decrease is primarily due to lower overall sales volumes and lower average selling prices within both the tubular products and specialty chemicals segments.Gross profit from continuing operations was $3.2 million, or 5.3% of net sales, compared to $20.2 million, or 23.9% of net sales, in the second quarter of 2022. The decrease is primarily attributable to the decline in net sales in addition to increased raw material and labor costs.Net loss from continuing operations was $3.7 million, or $(0.37) diluted loss per share, compared to net income from continuing operations of $10.8 million, or $1.04 diluted earnings per share, in the second quarter of 2022. The decrease is primarily attributable to the aforementioned decline in gross profit and higher interest expense.Adjusted EBITDA was $(1.5) million compared to $14.8 million in the second quarter of 2022. Adjusted EBITDA margin was (2.4)% compared to 17.4% in the prior year period. The decrease is primarily attributable to the Company’s aforementioned decline in net sales.Segment ResultsAscent Tubular – net sales from continuing operations in the second quarter of 2023 were $39.3 million compared to $55.6 million in the second quarter of 2022. Operating loss from continuing operations in the second quarter was $0.1 million compared to operating income from continuing operations of $13.0 million in the prior year period. Adjusted EBITDA from continuing operations in the second quarter was $0.8 million compared to $14.2 million in the prior year period. As a percentage of segment net sales, adjusted EBITDA was 2.1% compared to 25.6% in the second quarter of 2022.Ascent Chemicals – net sales in the second quarter of 2023 were $21.4 million compared to $29.0 million in the second quarter of 2022. Operating loss in the second quarter was $0.8 million compared to operating income of $2.6 million in the prior year period. Adjusted EBITDA in the second quarter was $0.3 million compared to $3.6 million in the prior year period. As a percentage of segment net sales, adjusted EBITDA was 1.5% compared to 12.6% in the second quarter of 2022.LiquidityAs of June 30, 2023, total debt was $54.5 million under the Company’s revolving credit facility, compared to $71.5 million in debt at December 31, 2022. As of June 30, 2023, the Company had $45.4 million of remaining available borrowing capacity under its revolving credit facility, compared to $37.6 million at December 31, 2022.During the second quarter of 2023, the Company repurchased 18,843 shares at an average cost of $9.34 per share for approximately $0.2 million, bringing total year-to-date repurchases for 2023 to 51,156 shares. The Company currently has 628,823 shares remaining under its share repurchase authorization.Conference CallAscent will conduct a conference call today at 5:00 p.m. Eastern time to discuss its results for the second quarter ended June 30, 2023.Ascent management will host the conference call, followed by a question and answer period.Date: Tuesday, August 8, 2023Time: 5:00 p.m. Eastern timeLive Call Registration Link: Here Webcast Registration Link: HerePlease call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860.The conference call will also be broadcast live and available for replay here. The webcast will be archived for one year in the investor relations section of the Company’s website at www.ascentco.com.About Ascent Industries Co.Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of stainless steel, the master distribution of seamless carbon pipe and tube, and the production of specialty chemicals. For more information about Ascent, please visit its web site at www.ascentco.com.Forward-Looking StatementsThis press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable federal securities laws. All statements that are not historical facts are forward-looking statements. Forward looking statements can be identified through the use of words such as "estimate," "project," "intend," "expect," "believe," "should," "anticipate," "hope," "optimistic," "plan," "outlook," "should," "could," "may" and similar expressions. The forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in Ascent Industries Co.’s Securities and Exchange Commission filings, including our Annual Report on Form 10-K, which filings are available from the SEC or on our website. Ascent Industries Co. assumes no obligation to update any forward-looking information included in this release.Non-GAAP Financial InformationFinancial statement information included in this earnings release includes non-GAAP (Generally Accepted Accounting Principles) measures and should be read along with the accompanying tables which provide a reconciliation of non-GAAP measures to GAAP measures.Adjusted EBITDA is a non-GAAP financial measure that the Company believes is useful to investors in evaluating its results to determine the value of a company. An item is excluded in the measure if its periodic value is inconsistent and sufficiently material that not identifying the item would render period comparability less meaningful to the reader or if including the item provides a clearer representation of normalized periodic earnings. The Company excludes in Adjusted EBITDA two categories of items: 1) Base EBITDA components, including: interest expense (including change in fair value of interest rate swap), income taxes, depreciation and amortization, and 2) Material transaction costs including: goodwill impairment, asset impairment, gain on lease modification, stock-based compensation, non-cash lease cost, acquisition costs and other fees, proxy contest costs and recoveries, shelf registration costs, loss on extinguishment of debt, earn-out adjustments, realized and unrealized (gains) and losses on investments in equity securities and other investments, retention costs and restructuring & severance costs from net income.Management believes that these non-GAAP measures are useful because they are key measures used by our management team to evaluate our operating performance, generate future operating plans and make strategic decisions as well as allow readers to compare the financial results between periods. Non-GAAP measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider the Company's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Non-GAAP measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results or financial condition as reported under GAAP.Ascent Industries Co.Condensed Consolidated Balance Sheets(in thousands, except par value and share data)(Unaudited)June 30, 2023December 31, 2022AssetsCurrent assets:Cash and cash equivalents$717$1,440Accounts receivable, net of allowance for credit losses of $734 and $762, respectively35,05337,062Inventories74,30085,572Prepaid expenses and other current assets9,1867,802Assets held for sale17,398380Current assets of discontinued operations3,44138,120Total current assets140,095170,376Property, plant and equipment, net34,36437,045Right-of-use assets, operating leases, net28,50929,198Goodwill11,38911,389Intangible assets, net9,24810,001Deferred income taxes6,8691,353Deferred charges, net153203Other non-current assets, net1,7821,861Long-term assets of discontinued operations137,617Total assets$232,422$269,043Liabilities and Shareholders' EquityCurrent liabilities:Accounts payable$22,242$19,623Accrued expenses and other current liabilities5,5046,039Current portion of note payable900387Current portion of long-term debt2,4642,464Current portion of operating lease liabilities1,0931,029Current portion of finance lease liabilities283280Current liabilities of discontinued operations1,8393,656Total current liabilities34,32533,478Long-term debt52,05669,085Long-term portion of operating lease liabilities30,33830,911Long-term portion of finance lease liabilities1,3131,242Other long-term liabilities6468Total non-current liabilities83,771101,306Total liabilities$118,096$134,784Commitments and contingenciesShareholders' equity:Common stock, par value $1 per share; 24,000,000 shares authorized; 11,085,103 and 10,158,219 shares issued and outstanding, respectively$11,085$11,085Capital in excess of par value46,95147,021Retained earnings65,31185,146123,347143,252Less: cost of common stock in treasury - 926,884 and 924,504 shares, respectively(9,021)(8,993)Total shareholders' equity114,326134,259Total liabilities and shareholders' equity$232,422$269,043Note: The condensed consolidated balance sheets at December 31, 2022 have been derived from the audited consolidated financial statements at that date.Ascent Industries Co.Condensed Consolidated Statements of Income (Loss) - Comparative Analysis (Unaudited)($ in thousands, except per share data)Three Months EndedJune 30,Six Months EndedJune 30,2023202220232022Net salesTubular Products$39,302$55,580$82,922$111,454Specialty Chemicals21,36329,02045,11256,741All Other——5011460,66584,600128,084168,309Operating income (loss) from continuing operationsTubular Products(105)12,9921,56027,120Specialty Chemicals(806)2,6275465,014All Other(74)(235)(552)(317)CorporateUnallocated corporate expenses(2,750)(3,322)(6,455)(6,351)Acquisition costs and other(17)(157)(274)(688)Total Corporate(2,767)(3,479)(6,729)(7,039)Operating income (loss)(3,752)11,905(5,175)24,778Interest expense1,0474072,154810Other, net(154)(23)(247)(58)Income (loss) from continuing operations before income taxes(4,645)11,521(7,082)24,026Income tax provision (benefit)(897)699(1,385)3,197Income (loss) from continuing operations(3,748)10,822(5,697)20,829Income (loss) from discontinued operations, net of tax(10,888)235(14,138)488Net income (loss)$(14,636)$11,057$(19,835)$21,317Net income (loss) per common share from continuing operationsBasic$(0.37)$1.06$(0.56)$2.04Diluted$(0.37)$1.04$(0.56)$2.01Net income (loss) per common share from discontinued operationsBasic$(1.07)$0.02$(1.39)$0.05Diluted$(1.07)$0.02$(1.39)$0.05Net income (loss) per common shareBasic$(1.44)$1.08$(1.95)$2.08Diluted$(1.44)$1.06$(1.95)$2.05Average shares outstandingBasic10,17010,24410,15910,226Diluted10,17010,43110,15910,377Other data:Adjusted EBITDA1$(1,471)$14,751$(166)$30,6801The term Adjusted EBITDA is a non-GAAP financial measure that the Company believes is useful to investors in evaluating its results to determine the value of a company. An item is excluded in the measure if its periodic value is inconsistent and sufficiently material that not identifying the item would render period comparability less meaningful to the reader or if including the item provides a clearer representation of normalized periodic earnings. The Company excludes in Adjusted EBITDA two categories of items: 1) Base EBITDA components, including: interest expense (including change in fair value of interest rate swap), income taxes, depreciation and amortization, and 2) Material transaction costs including: goodwill impairment, asset impairment, gain on lease modification, stock-based compensation, non-cash lease cost, acquisition costs and other fees, proxy contest costs and recoveries, loss on extinguishment of debt, earn-out adjustments, realized and unrealized (gains) and losses on investments in equity securities and other investments, retention costs and restructuring & severance costs from net income. For a reconciliation of this non-GAAP measure to the most comparable GAAP equivalent, refer to the Reconciliation of Net Income (Loss) to Adjusted EBITDA.Ascent Industries Co.Consolidated Statements of Cash Flows (Unaudited)($ in thousands)Six Months Ended June 30,20232022Operating activitiesNet income (loss)$(19,835)$21,317Net income (loss) from discontinued operations, net of tax(14,138)488Net income (loss) from continuing operations(5,697)20,829Adjustments to reconcile net income (loss) to net cash provided by operating activities:Depreciation expense3,2433,201Amortization expense7531,343Amortization of debt issuance costs5049Deferred income taxes(5,515)(642)Payments of earn-out liabilities in excess of acquisition date fair value—(372)(Reduction of) provision for losses on accounts receivable(28)459Provision for losses on inventories1,190863Loss (gain) on disposal of property, plant and equipment182(5)Non-cash lease expense137214Issuance of treasury stock for director fees—364Stock-based compensation expense414446Changes in operating assets and liabilities:Accounts receivable2,037(10,173)Inventories10,279(27,738)Other assets and liabilities(295)(755)Accounts payable2,09514,476Accrued expenses(587)(1,980)Accrued income taxes(743)110Net cash provided by operating activities - continuing operations7,515689Net cash provided by operating activities - discontinued operations10,5572,200Net cash provided by operating activities18,0722,889Investing activitiesPurchases of property, plant and equipment(1,483)(1,981)Proceeds from disposal of property, plant and equipment—5Net cash used in investing activities - continuing operations(1,483)(1,976)Net cash used in investing activities - discontinued operations(142)(349)Net cash used in investing activities(1,625)(2,325)Financing activitiesBorrowings from long-term debt139,137237,938Proceeds from note payable900967Proceeds from the exercise of stock options—161Payments on long-term debt(156,166)(240,017)Payments on note payable(387)(96)Principal payments on finance lease obligations(151)(126)Payments on earn-out liabilities—(484)Repurchase of common stock(504)—Net cash used in financing activities - continuing operations(17,171)(1,657)Net cash used in financing activities - discontinued operations—(683)Net cash used in financing activities(17,171)(2,340)Decrease in cash and cash equivalents(724)(1,776)Less: Cash and cash equivalents of discontinued operations14Cash and cash equivalents, beginning of period1,4402,017Cash and cash equivalents, end of period$717$245Ascent Industries Co.Non-GAAP Financial Measures ReconciliationReconciliation of Net Income to Adjusted EBITDA (Unaudited)($ in thousands)Three Months EndedJune 30,Six Months EndedJune 30,($ in thousands)2023202220232022ConsolidatedNet income (loss) from continuing operations$(3,748)$10,822$(5,697)$20,687Adjustments:Interest expense1,0474072,154810Income taxes(897)699(1,385)3,339Depreciation1,6321,6213,2433,201Amortization3766727531,343EBITDA(1,590)14,221(932)29,380Acquisition costs and other20157280688Gain on lease modification—(2)—(2)Stock-based compensation24258246390Non-cash lease expense68107137214Restructuring and severance costs71010310Adjusted EBITDA$(1,471)$14,751$(166)$30,680% sales(2.4)%17.4%(0.1)%18.2%Tubular ProductsNet income (loss) from continuing operations$(105)$12,993$1,560$27,120Adjustments:Depreciation expense6536881,2901,363Amortization expense2185764361,152EBITDA76614,2573,28629,635Acquisition costs and other4—4—Stock-based compensation10(16)(9)19Non-cash lease expense36(1)72(1)Restructuring and severance costs——97—Tubular Products Adjusted EBITDA$816$14,240$3,450$29,653% segment sales2.1%25.6%4.2%26.6%Specialty ChemicalsNet income (loss)$(818)$2,617$523$4,995Adjustments:Interest expense1893118Depreciation expense9569151,9081,800Amortization expense15896317192EBITDA3143,6372,7797,005Acquisition costs and other——2—Stock-based compensation(23)11(16)18Non-cash lease expense22—46—Specialty Chemicals Adjusted EBITDA$313$3,648$2,811$7,023% segment sales1.5%12.6%6.2%12.4%View source version on businesswire.com: https://www.businesswire.com/news/home/20230808299203/en/ContactsCompany Contact Bill SteckelChief Financial Officer1-630-884-9181Investor Relations Cody Slach and Cody CreeGateway Group, [email protected] | Business Wire | "2023-08-08T20:05:00" | Ascent Industries Reports Second Quarter 2023 Results | https://finance.yahoo.com/news/ascent-industries-reports-second-quarter-200500535.html | 5a610219-8319-3a9c-b3fc-609e50e73351 |
ACR | UNIONDALE, N.Y., July 19, 2023 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE:ACR) (the "Company") announced today that it will release its results for the second quarter 2023, on Wednesday, August 2, 2023, after the market closes. The Company invites investors and other interested parties to listen to its live conference call via telephone or webcast on Thursday, August 3, 2023, at 11:00 a.m. Eastern Time.(PRNewsfoto/ACRES Commercial Realty Corp.)The conference call can be accessed by dialing 1-877-300-8521 (U.S. domestic) or 1-412-317-6026 (International) or from the investor relations section of the Company's website at www.acresreit.com.For those unable to listen to the live conference call, a replay will be available on the Company's website and telephonically through August 17, 2023 by dialing 1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International), passcode 10179700.About ACRES Commercial Realty Corp.ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate ("CRE") mortgage loans and equity investments in commercial real estate property through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market CRE lending with a focus on multifamily, student housing, hospitality, industrial and office property in top U.S. markets. For more information, please visit the Company's website at www.acresreit.com or contact investor relations at [email protected] original content to download multimedia:https://www.prnewswire.com/news-releases/acres-commercial-realty-corp-to-report-results-for-second-quarter-2023-301881230.htmlSOURCE ACRES Commercial Realty Corp. | PR Newswire | "2023-07-19T20:15:00" | ACRES Commercial Realty Corp. to Report Results for Second Quarter 2023 | https://finance.yahoo.com/news/acres-commercial-realty-corp-report-201500170.html | dc455ff5-4cb5-39f7-9408-4e821a2d5422 |
ACR | UNIONDALE, N.Y., Aug. 2, 2023 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR) ("ACR" or the "Company"), a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and equity investments in commercial real estate property through direct ownership and joint ventures, today reported results for the quarter ended June 30, 2023. ACR's GAAP net income allocable to common shares was $817,000 or $0.10 per share-diluted, for the quarter ended June 30, 2023.(PRNewsfoto/ACRES Commercial Realty Corp.)"The ACRES team has done an outstanding job proactively asset managing the investment portfolio to date," said ACRES Commercial Realty Corp. President & CEO Mark Fogel. "Our commitment remains unwavering in seeking avenues for expansion while upholding our steadfast dedication to safeguarding shareholder value."ACR issued a full, detailed presentation of its results for the quarter ended June 30, 2023 that can be viewed at www.acresreit.com.Earnings Call DetailsACR will host a live conference call on August 3, 2023 at 11:00 a.m. Eastern Time to discuss its second quarter 2023 operating results. The conference call can be accessed by dialing 1-877-300-8521 (U.S. domestic) or 1-412-317-6026 (International) or from the investor relations section of the Company's website at www.acresreit.com.For those unable to listen to the live conference call, a replay will be available on the Company's website and telephonically through August 17, 2023 by dialing 1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International), with the passcode 10179700.About ACRES Commercial Realty Corp.ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and equity investments in commercial real estate properties through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market commercial real estate lending with a focus on multifamily, student housing, hospitality, industrial and office property in top U.S. markets. For more information, please visit the Company's website at www.acresreit.com or contact investor relations at [email protected] continuesForward-Looking StatementsThis press release contains certain 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. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission, including, without limitation, factors impacting whether we will be able to maintain our sources of liquidity and whether we will be able to identify sufficient suitable investments to increase our originations. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/acres-commercial-realty-corp-reports-results-for-second-quarter-2023-301891919.htmlSOURCE ACRES Commercial Realty Corp. | PR Newswire | "2023-08-02T20:15:00" | ACRES COMMERCIAL REALTY CORP. REPORTS RESULTS FOR SECOND QUARTER 2023 | https://finance.yahoo.com/news/acres-commercial-realty-corp-reports-201500355.html | 4d7a4e51-ea71-3a83-9196-db8c990fd1b1 |
ACRE | Key InsightsAres Commercial Real Estate's significant retail investors ownership suggests that the key decisions are influenced by shareholders from the larger publicThe top 25 shareholders own 36% of the company Institutions own 42% of Ares Commercial Real EstateIf you want to know who really controls Ares Commercial Real Estate Corporation (NYSE:ACRE), then you'll have to look at the makeup of its share registry. The group holding the most number of shares in the company, around 55% to be precise, is retail investors. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).And institutions on the other hand have a 42% ownership in the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies.Let's delve deeper into each type of owner of Ares Commercial Real Estate, beginning with the chart below. View our latest analysis for Ares Commercial Real Estate ownership-breakdownWhat Does The Institutional Ownership Tell Us About Ares Commercial Real Estate?Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.As you can see, institutional investors have a fair amount of stake in Ares Commercial Real Estate. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Ares Commercial Real Estate's historic earnings and revenue below, but keep in mind there's always more to the story.Story continuesearnings-and-revenue-growthWe note that hedge funds don't have a meaningful investment in Ares Commercial Real Estate. Our data shows that BlackRock, Inc. is the largest shareholder with 8.7% of shares outstanding. For context, the second largest shareholder holds about 5.1% of the shares outstanding, followed by an ownership of 2.5% by the third-largest shareholder.A deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.Insider Ownership Of Ares Commercial Real EstateThe definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.We can report that insiders do own shares in Ares Commercial Real Estate Corporation. In their own names, insiders own US$16m worth of stock in the US$532m company. It is good to see some investment by insiders, but it might be worth checking if those insiders have been buying. General Public OwnershipThe general public, mostly comprising of individual investors, collectively holds 55% of Ares Commercial Real Estate shares. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.Next Steps:While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should be aware of the 2 warning signs we've spotted with Ares Commercial Real Estate .But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.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. | Simply Wall St. | "2023-08-25T14:09:25" | Institutions own 42% of Ares Commercial Real Estate Corporation (NYSE:ACRE) shares but retail investors control 55% of the company | https://finance.yahoo.com/news/institutions-own-42-ares-commercial-140925391.html | cccd9790-7f46-3f9b-8f42-6d4e015fab4b |
ACRE | NEW YORK, NY / ACCESSWIRE / September 6, 2023 / Ares Commercial Real Estate Corporation (NYSE:ACRE) announced today that its Chief Executive Officer, Bryan Donohoe, and its Chief Financial Officer, Tae-Sik Yoon, will present at the BofA 2023 Global Real Estate Conference on Wednesday, September 13, 2023 at 1:25pm ET.A live audio webcast of the panel presentation will be available in the Investor Resources section of the Company's website at www.arescre.com. For those unable to listen to the live audio webcast, a replay will be available on the Company's website shortly after the event.About Ares Commercial Real Estate CorporationAres Commercial Real Estate Corporation (the "Company") is a specialty finance company primarily engaged in originating and investing in commercial real estate loans and related investments. Through its national direct origination platform, the Company provides a broad offering of flexible and reliable financing solutions for commercial real estate owners and operators. The Company originates senior mortgage loans, as well as subordinate financings, mezzanine debt and preferred equity, with an emphasis on providing value added financing on a variety of properties located in liquid markets across the United States. Ares Commercial Real Estate Corporation elected and qualified to be taxed as a real estate investment trust and is externally managed by a subsidiary of Ares Management Corporation. For more information, please visit www.arescre.com. The contents of such website are not, and should not be deemed to be, incorporated by reference herein.Contacts:Investor RelationsAres Commercial Real Estate CorporationCarl Drake or John [email protected]: Ares Commercial Real Estate CorporationView source version on accesswire.com: https://www.accesswire.com/780569/ares-commercial-real-estate-corporation-to-present-at-the-bofa-2023-global-real-estate-conference | ACCESSWIRE | "2023-09-06T10:00:00" | Ares Commercial Real Estate Corporation to Present at the BofA 2023 Global Real Estate Conference | https://finance.yahoo.com/news/ares-commercial-real-estate-corporation-100000033.html | 75efc1d0-ea61-3d1f-ace4-5d3287d10d62 |
ACRS | The analysts covering Aclaris Therapeutics, Inc. (NASDAQ:ACRS) delivered a dose of negativity to shareholders today, by making a substantial revision to their statutory forecasts for this year. Revenue estimates were cut sharply as the analysts signalled a weaker outlook - perhaps a sign that investors should temper their expectations as well.Following the latest downgrade, the current consensus, from the nine analysts covering Aclaris Therapeutics, is for revenues of US$7.5m in 2023, which would reflect a painful 76% reduction in Aclaris Therapeutics' sales over the past 12 months. Per-share losses are expected to explode, reaching US$1.79 per share. However, before this estimates update, the consensus had been expecting revenues of US$8.4m and US$1.80 per share in losses. So there's definitely been a change in sentiment in this update, with the analysts administering a substantial haircut to this year's revenue estimates, while at the same time holding losses per share steady. View our latest analysis for Aclaris Therapeutics earnings-and-revenue-growthOf course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 94% by the end of 2023. This indicates a significant reduction from annual growth of 43% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 7.1% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Aclaris Therapeutics is expected to lag the wider industry.The Bottom LineRegrettably, they also downgraded their revenue estimates, and the latest forecasts imply the business will grow sales slower than the wider market. Often, one downgrade can set off a daisy-chain of cuts, especially if an industry is in decline. So we wouldn't be surprised if the market became a lot more cautious on Aclaris Therapeutics after today.Story continuesThat said, the analysts might have good reason to be negative on Aclaris Therapeutics, given dilutive stock issuance over the past year. For more information, you can click here to discover this and the 2 other concerns we've identified.Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.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. | Simply Wall St. | "2023-08-08T12:40:18" | Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Analysts Just Slashed This Year's Revenue Estimates By 11% | https://finance.yahoo.com/news/aclaris-therapeutics-inc-nasdaq-acrs-124018971.html | aaf8d814-953b-35fc-bad8-83595b41f17c |
ACRS | It's been a mediocre week for Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shareholders, with the stock dropping 12% to US$8.48 in the week since its latest second-quarter results. Revenue hit US$1.9m in line with forecasts, although the company reported a statutory loss per share of US$0.42 that was somewhat smaller than the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year. See our latest analysis for Aclaris Therapeutics earnings-and-revenue-growthTaking into account the latest results, the nine analysts covering Aclaris Therapeutics provided consensus estimates of US$7.57m revenue in 2023, which would reflect a sizeable 76% decline over the past 12 months. Per-share losses are expected to explode, reaching US$1.81 per share. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$8.44m and losses of US$1.80 per share in 2023. So there's definitely been a change in sentiment in this update, with the analysts administering a substantial haircut to next year's revenue estimates, while at the same time holding losses per share steady.There was no real change to the average price target of US$28.89, suggesting that the revisions to revenue estimates are not expected to have a long-term impact on Aclaris Therapeutics' valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Aclaris Therapeutics at US$43.00 per share, while the most bearish prices it at US$16.00. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.Story continuesLooking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We would highlight that revenue is expected to reverse, with a forecast 94% annualised decline to the end of 2023. That is a notable change from historical growth of 43% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 7.4% annually for the foreseeable future. It's pretty clear that Aclaris Therapeutics' revenues are expected to perform substantially worse than the wider industry.The Bottom LineThe most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. The consensus price target held steady at US$28.89, with the latest estimates not enough to have an impact on their price targets.Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Aclaris Therapeutics going out to 2025, and you can see them free on our platform here..And what about risks? Every company has them, and we've spotted 4 warning signs for Aclaris Therapeutics (of which 2 can't be ignored!) you should know about.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. | Simply Wall St. | "2023-08-10T10:07:05" | Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Analysts Are Cutting Their Estimates: Here's What You Need To Know | https://finance.yahoo.com/news/aclaris-therapeutics-inc-nasdaq-acrs-100705562.html | bfdb95be-ab88-3392-a2ee-bec72ab687ab |
ACU | ParticipantsPaul G. Driscoll; VP, CFO, Secretary & Treasurer; Acme United CorporationWalter C. Johnsen; Chairman of the Board & CEO; Acme United CorporationJim Marrone; Equity Research Analyst; Singular Research, LLCJoichi Sakai; Equity Research Analyst; Singular Research, LLCNorman SarafianRalph P. Marash; MD & Portfolio Manager; First Manhattan Co. LLCRichard DearnleyUnidentified AnalystPresentationOperatorGood day, and welcome to the Acme United Corporation Second Quarter 2023 Earnings. (Operator Instructions) As a reminder, this conference is being recorded. At this time, I would like to turn the call over to Walter Johnsen, Chairman and CEO. Please go ahead, sir.Walter C. JohnsenGood morning. Welcome to the Second Quarter 2023 Earnings Conference Call for Acme United Corporation. I'm Walter C. Johnsen, Chairman and CEO. With me is Paul Driscoll, our Chief Financial Officer, who will first read the safe harbor statement. Paul?Paul G. DriscollForward-looking statements in this conference call, including, without limitation, statements related to the company's plans, strategies, objectives, expectations, intentions and adequacy of capital and other resources are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, among others, those arising as a result of challenging global macroeconomic environment characterized by continued high inflation and high interest rates. In addition, we have experienced supply chain disruptions, including those resulting from the COVID-19 pandemic, and we may experience supply chain disruptions in the future. We're also subject to additional risks and uncertainties as described in our periodic filings with the Securities and Exchange Commission in our current earnings release.Walter C. JohnsenThank you, Paul. Acme United had an excellent second quarter of 2023, with net income increasing 26% and earnings per share increasing 35%. Our net sales were $53.3 million, a decrease of 6%, which was anticipated due to inventory reductions of several of our large customers. Net income was $3.4 million compared to $2.7 million in the second quarter of 2022. Earnings per share were $0.96 compared to $0.71 in the second quarter last year. In 2022, the cost of shipping a container from Shanghai to Long Beach, California, increased to as high as $19,000 versus our budget of $12,500. This resulted in additional expenses in 2022 of approximately $4 million. The company did not raise prices to adjust for these costs, but they obviously reduced profitability in 2022 by approximately $4 million. In 2023, container costs have declined to about $5,000 each. We implemented a $5 million cost savings plan in September of 2022, and we are on track to accomplishing our goal. We hired an experienced Director of Distribution to improve training, increased wages and began new automation projects in our North Carolina facility. We have also substantially lowered staff turnover. As you may know, we improved the working conditions and now our 345,000 square foot facility in North Carolina by installing massive air conditioning units during 2021 and 2022. about 9 months ago, it appeared that the worst of the supply chain problems were easing. The company began to reduce its inventory, being careful not to impact unexpected customer requirements would it be unprepared for another interruption. The result has been a $9.1 million reduction in inventory since June 30, 2022. We've used the cash flow to pay down debt and are positioned to fund another acquisition will take advantage of a new growth opportunity. We have not provided guidance for 2023, but we anticipate performance during the year, far exceeding that of 2022. We expect sales to be impacted by global supply chain reductions, but we have new programs in all our segments that will also drive us forward. I'll now turn the call to Paul Driscoll.Story continuesPaul G. DriscollAcme's net sales for the second quarter were $53.3 million compared to $56.8 million in 2022, a decrease of 6%. Sales for the 6 months ended June 30, 2023, were $99.2 million compared to $100.1 million in the same period in 2022, a decrease of 1%. Net sales in the U.S. segment decreased 8% in the second quarter due to customer inventory reductions of school and office products that were heavily purchased in the second quarter of 2022. Sales decreased 1% for the 6 months ended June 30. Net sales for Europe decreased 7% in local currency for the quarter and 5% for the 6 months ended June 30. The sales decrease for both periods was mainly due to the economic recession in Europe. Net sales in local currency for Canada increased 21% in the quarter and 8% for the year-to-date due to growth in first aid products. The gross margin was 37.5% in the second quarter of 2023 compared to 32.7% in 2022. The higher gross margin was mainly due to the productivity improvement initiatives that began in Q4 of 2022 as well as lower tranche placing costs. SG&A expenses for the second quarter of 2023 were $14.8 million or 28% of sales compared with $14.6 million or 26% of sales for the same period of 2022. SG&A expenses for the first 6 months of 2023 were $29 million or 29% of sales compared with $28 million or 28% of sales in 2022. Operating profit in the second quarter increased 32% due to an improved gross margin and tight control of SG&A spending. Interest expense for the second quarter of 2023 was $830,000 compared to $420,000 in the second quarter of '22. The increase was entirely due to higher interest rates. In fact, average debt declined by $8 million in the second quarter of 2023 compared to Q2 of last year. Our overall average interest rate in the second quarter of 2023 was 6.4% compared to 2.9% for the second quarter of 2022. Net income for the second quarter of 2023 was $3.4 million or $0.96 per diluted share compared to net income of $2.7 million or $0.71 per diluted share for the same period of 2022, an increase of 26% of net income and 35% in earnings per share. Net income for the first 6 months ended June 30, 2023, was $4.4 million or $1.25 per diluted share compared to $3.6 million or $0.93 per diluted share in the comparable period last year, increases of 24% and 34%. The company's bank debt less cash on June 30, 2023 was $47 million compared to $60 million on June 30, 2022. During the 12-month period, the company paid $2 million in dividends and generated approximately $14 million in free cash flow, including an inventory reduction of $9 million. Net debt declined $8 million from December 31, 2022.Walter C. JohnsenThank you, Paul. I will now open the call to questions. .Question and Answer SessionOperator(Operator Instructions) Our first question comes from the line of Jim Marrone with Singular Research.Jim MarroneI guess my question deals with what you anticipate going forward? It seems like you got past the headwinds of supply side and the higher costs associated with it. But going forward, a lot of economists are talking about recession. And just curious on what your thoughts on how Acme will be insulated if they are at all insulated to any upcoming recession? Can you anticipate lower volumes? Or what do you plan on doing to mitigate any of the negative effects of recession?Walter C. JohnsenGood question, Jim. First, Acme is not insulated for medicines. We have faced every bit of the challenges of any other company. And if there's supply chain problems, we face that, we faced inflation just like everybody else. And if we go into a recession, we face a demand issue, and that's pretty clear. The first aid side, where we're now the second largest in North America, has a recurring revenue stream from our Refill business as kits are used the pollen season through an accident or it disappears or is obsolete. Those kits have to be refilled and they are regularly. So there's a very strong recurring revenue stream that may be somewhat insulated. Relative to new first aid installations, we've got a number of programs going on with major companies in North America. And we've got increasing growth in Canada. We're using First Aid Central and our multinational companies that operate there, throughout every field, including mining, oil and gas, transportation and general retail. On the first aid side, we also have a number of new products that are going into retail accounts in the United States and Canada. So those are the things that offset some of the headwinds, if we go into a recession. With the Westcott business, the cost of our products, which are primarily scissors and cutting tools, those are not expensive items. Most of them are under $25, many are under $10. And while there may be migration from one product to another product within different price points, it's not the same as a capital goods. It's not a refrigerator or a house or a car. So in past recessions, we've seen some backing off of Westcott but certainly not the same as if it was a capital good. Relative to the inventory reductions, it depends on the retailer and it's uneven within departments. But obviously, the heavy purchasing they did a year ago is gradually being worked off. In the case of back-to-school, it was probably more opportune in the second quarter, what active school actually is an area the way you can sell product for that segment. But my belief is that by year-end, maybe soon, most retailers will have been completely out of the inventory that they bought a year ago. And in many cases, that's occurred already. And we're seeing, as we speak, increased demand from them. I hope that helps, Jim. That was a good question.OperatorOur next question comes from the line of [Bill] (inaudible) with (inaudible).Unidentified AnalystAllowing me to participate. I have 2 questions. The first is again on the supply chain. I believe earlier in the commentary, you mentioned what sounded like customers may be stocking up last year which perhaps a difficult comparison for this period. Can you give -- shed any light on your expectations for the second half of the year we may see similar? And then my second question, if I may, is since you mentioned recession, is it your belief that, that would occur? And if it does, do you feel that you're positioned well based on points that you mentioned that as you said, are more affordable and not like buying huge appliances and so forth.Walter C. JohnsenOkay. Well, first on supply chain. Customers in the second quarter last year did purchase and place orders from multiple sources in order to get product, particularly for back-to-school, but for other items as well. Those just happen to be in our segment. But you can imagine where you have a seasonal demand, which would be back-to-school. And your shelves have to be filled. And if you're online, you have to have product because the window while it is throughout the year, is predominantly in the June through September range. And so early in the time last year, the second quarter, retailers were just buying whatever they could. You may remember that the ports were plugged up in the East Coast, the West Coast, Rotterdam, it really didn't matter. And there were massive problems getting products out of China and a lot of peaking and demand requirements for trucks and ships and containers. So that scrambled reinforced the need to get stock from our retailers a year ago. Well, that's pretty much changed. And while there was some sell-off in the second quarter, and we anticipated it because we knew what they had and when it was shipped, that's been worked out pretty much now. If you're looking at the second half the retailers had a year for working out inventory really actually since maybe September when it lightened up a lot. But it's not the same kind of issue they had in the past 9 months, it's far better. And so you're getting closer to the actual demand from customers. We're seeing, as we speak, pretty good growth, but it's early in the quarter. And I think that in the back half of the year, we should -- with the programs we've got in place right now, see continued revenue growth. On the earnings side, it will be substantially improved because we don't have the cost of shipping, which capitalized as product cost and work through in the third and fourth quarter, those are pretty much normalized now. And so the margins will continue to improve, we believe, in the back half of the year. So we're looking for a very strong back half. Now regarding inflation, I mean, recession, I have to believe that if you keep increasing interest rates, you eventually cause a recession, and may be led by housing and it may be led by the auto industry and capital goods, but these are things that are interest rate sensitive. And while earnings are increasing for many people, and we've had good increases to our employees, still you pay tax on your increases and the spending is after tax. And it's very hard to match up. So I think we will have a recession. And I think that the Fed in order to break interest rate or break inflation will continue to raise rates and they really don't know the unintended consequences for moving that fast. We saw some of that with the banking segment. And there'll be others because things do not operate independently. However, I think as relative to Acme, as I outlined earlier, our first aid side with the high refill rates and the programs we've got in place should be pretty strong. And maybe there'll be some weakness in Westcott cutting tools because that is a consumer product. But I don't see it to be major. I hope that helped.OperatorOur next question comes from the line of Richard Dearnley with Longport Partners.Richard DearnleyI guess one for Paul. You're on average inventory rather than the LIFO or FIFO as I remember, has the -- does that mean that the high-cost inventory has largely flown through the P&L at this point?Paul G. DriscollYes. Yes.Richard DearnleyYes. Okay. And then last quarter, you were estimating that inventories would be down $5 million for the year, which would get you to something like $58 million, and you're $50 million now, so is there a new goal on the inventory? Or is this inventory about right?Paul G. DriscollI think the current inventory is about where we will end the year, maybe it's $1 million more.Richard DearnleyOkay. That's great. And what was the sales mix in the quarter between first aid and Westcott -- or first aid and...Paul G. DriscollOkay. So the first aid was 59% in the quarter and year-to-date. So for the 3 months and the 6 months, it was both 59%.Richard DearnleyRight. And what -- how did you get invited to that conference in Qatar? That was quite something.Walter C. JohnsenWell, for those that don't know, I was presenting at the Bloomberg Conference in Qatar. And it related to supply chain, which we live regularly. And it's not the first time we've spoken -- I've spoken about supply chain actually with Bloomberg, it's probably the fourth time. And we know what we're talking about when we're talking about what's going on in China and what's happening with containers. We live it daily. And our calls with Asia are weekly and -- for me, it's weekly and then, of course, I'm in China often. so it was a pretty natural invitation, I felt.Richard DearnleyGreat. It was intriguing to hear that. Then the expansion -- the square footage expansion in Canada to supply both Canada and multinational. why does it open markets being in Canada as opposed to the U.S.?Walter C. JohnsenWhen we bought First Aid Only -- I mean, First Aid Central in Canada. It gave us Canadian manufacturing of first aid. And while the borders are open, the provinces have very, very different requirements. It would be similar to many regions in the United States, all having different requirements for what goes into a kit. And it was very difficult as a non-Canadian supplier prior to First Aid Central to be able to be effectively supplying. But once we bought First Aid Central, we were able to access first incredible purchasing power of our combined businesses. So we were able to give them very competitive product costs. Second, we now had the full sales team for North America and Europe, working together with multinationals in Canada that we're looking for products that we had developed in one of the other regions that they weren't available in Canada, and we were able to produce them in our facility outside of Montreal. What we've been successful with that so much so that right now, even though we doubled the space, we still need more space, and it's very exciting.Richard DearnleyGreat. Paul, do you have the -- what last year's second quarter mix on first aid cutting was?Paul G. DriscollOkay. The second quarter last year was 51%.OperatorOur next question comes from the line of Norman Sarafian with RBC Wealth Management.Norman SarafianI had 2 questions. And 1 question was, it sounds like 1 fellow implied there might be a recession. What if there's no recession and we continue growing? It looks like the consumer is spending a lot of money this summer in Disneyland and places like this. With that in mind, if we have a soft landing or no recession because it seems to me the economy is acting much better and people are scratching their head, not understanding the impact. Interest rates are going up, it looks like it's actually increasing business activity. There was a lot of in activity, remember under the low interest rates. So it seems like people are out doing things. If that's the case, are we prepared for demand for our products with respect to inventory? If there's not enough inventory to meet the consumer demand, say, with the emergency kits and what have you, would that be a drag on the business going forward if we're not prepared for a strong economy? And the other question I have is -- go ahead.Walter C. JohnsenFirst, regarding what it is not a recession. Wow, let's stance, that's awesome. And I think you prepare for the worst and maybe you're lucky. Relative to inventory, we've raised our inventory about 30% in preparation for supply chain issues, and we did that during COVID, and that's what we've peeled back. So we're in position for normal growth. And in fact, when Paul said, we think we've bottomed out with the inventory, and when the question was asked, well, you said you reduced it $5 million, but you actually did $9 million. That's because we thought we could but we're very sensitive at this point to being able to supply our customers, should there be more demand. And I think we're positioned to do that. So again, we just pulled back the stock that we had done during COVID, when we really didn't know what supply would be like. And now we're in a position. I think if we're lucky, we get more growth.Norman SarafianGood. Now the other part of the question, though, now would be a little bit of a downer. So let's say, because of COVID and people aren't going back to work in the office like they were, is this a potential drag on business demand for product if people aren't going to show up in the office? I mean working remote seems so popular. I'm just wondering how that would affect your business?Walter C. JohnsenYes. I think we've already run through that. And what we did do was we shifted to a remote workforce during COVID, and we basically did promotions online and at places where they would shop for food and that proved to be the right area. You may remember that when offices were closed, the people weren't shopping at many retailers but we shifted within a week to online sales and...Norman SarafianAnd if the office is -- okay, excuse me, but if the offices are closed, I mean would that -- would you lose business on the safety, the first aid products? And is there less demand if there are fewer people going into the office environment? I guess that's the question.Walter C. JohnsenThe bulk of our first aid business is industrial. And while sure, we sell to the offices. The bulk of it is going into industrial companies, the Exxon, Boeing, a lot going to companies like Grainger into the industrial market. We sell -- our biggest online customer -- our biggest customer is Amazon, and we find a broad mix of people buying there. I don't think, honestly, that a change in a work pattern at this stage would have any impact.Operator(Operator Instructions) Our next question comes from the line of Joichi Sakai with Singular Research.Joichi SakaiWalter, just had a question on what's driving the first aid demand in Canada.Walter C. JohnsenWell, we're gaining market share. We're introducing new products, particularly industrial products that had not been available, at least from acne in the past. We've got better pricing than most of the Canadian competitors because we've got the scale of purchase them. And we've got a really good team. It seems to be working.Joichi SakaiOkay. Sounds good. And on to gross margin, seeing there's improvement there. How are we supposed to look at that in the future quarters? Will there be more improvement? Or will it be leveling off here?Walter C. JohnsenI'll turn that over to Paul Driscoll because he models that pretty carefully. Paul?Paul G. DriscollYes. The next 2 quarters will be similar to the latest quarter, the second quarter, maybe a little bit higher, maybe 37.5% to 38%.Joichi SakaiOkay. And then do you have any (inaudible) in future quarters after that?Paul G. DriscollWell, I think it will level off at that. There's a lot of factors that affect the gross margin. So I think at this point, it would -- being at 37.5% in the second quarter, we'll probably do something similar to that, a little bit higher in the third and fourth quarter. It's hard to predict what will happen next year.OperatorOur next question comes from the line of Ralph Marash with First Manhattan Company.Ralph P. MarashMy first question is, do you think that innovation within your product line has suffered at all with all the puts and takes during COVID?Walter C. JohnsenThat's hard to call, Ralph. I would say we've probably done less in the coding area than we had in earlier years. As you know, we have about 150 patents on codings. And I think some of the collaboration that we would have done during COVID probably wasn't done because it already together, and it was harder. On the other hand, on the first aid side, we've just -- our customers are pulling us into different segments so quickly. And a couple of the acquisitions like Spill Magic where it's being used for bloodborne pathogen kits and spill cleanups for bodily fluids, this didn't even exist. And we've got a business that's just rising now that we just didn't have. .I don't think it's across the board. But the kind of research or new products were all together and we're thinking through those ideas, we're starting them again. but I think that probably suffered a little bit.Ralph P. MarashOkay. And on the acquisition front, do you see a ThirdLeG? Or are you going to continue to grow First Aid and your office supply business?Walter C. JohnsenYes. I don't see a ThirdLeG, in particular, I see reinforcing in the First Aid segment where we've got really a lot of momentum. And there's a number of ways that we can grow intrastate, adjacencies in our market competitors as an example, or those that are half step away with products, but also the vertical integration of the components that go into the first aid kits. Example of that is Med-Nap where we're making alcohol wipes, prep pads, castile wipes, all going into our kits as well as selling on the outside, and Med-Nap will eventually be making other components, perhaps burn creams and hand sanitizers that also go into those kits. So there'll be other acquisitions probably in first aid, again, either horizontally expanding market share or vertically integrating into what we make. And they'll be in probably North America.Ralph P. MarashMy last question is, I'm assuming since you didn't mention it, that the good news is that your distribution facility in Rocky Mount was spared any tornado damage.Walter C. JohnsenSo for those that don't know, on Friday, a tornado in Rocky Mountain, North Carolina hit down and destroyed a big section of the Pfizer Hospira facility, which is 7 miles away from ours. It destroyed about 25% of the injectable pharmaceuticals in the United States. So they are a supplier, but it's going to be a massive shortage. We have a an emergency shelter within our facility, and we evacuated 180 workers. Fortunately, it missed us. We were lucky. But for Pfizer and for the country, we've got a handful of problems because it's going to be a shortage of injectable pharmaceuticals, whether that's for chemotherapy or for penicillin or so many other items, is a big problem. We're okay.OperatorThere are no further questions in the queue. I'd like to hand the call back to Mr. Johnsen for closing remarks.Walter C. JohnsenOkay. No further questions. Thank you for joining us. We look forward to talking to you as we complete the third quarter and have the earnings. Bye-bye. .OperatorLadies and gentlemen, this does conclude today's teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day. | Thomson Reuters StreetEvents | "2023-07-22T05:59:04" | Q2 2023 Acme United Corp Earnings Call | https://finance.yahoo.com/news/q2-2023-acme-united-corp-055904793.html | 900b5748-862a-3ae4-ba30-fb047adab8c2 |
ACU | Acme United Corp (ACU), a leading supplier in the Consumer Packaged Goods industry, has seen a significant increase in its stock price over the past three months. The company's stock price has risen from $25.78 to $31, marking a 21.30% increase. However, the past week has seen a slight decrease of 8.20%. The company's GF Value, a measure of intrinsic value defined by GuruFocus.com, is currently at $37.73, indicating that the stock is 'Modestly Undervalued'. This is a slight increase from the past GF Value of $37.01, which suggested that the stock was 'Significantly Undervalued'. The company's market capitalization stands at $110.609 million.Company OverviewWarning! GuruFocus has detected 7 Warning Signs with ACU. Click here to check it out. ACU 30-Year Financial DataThe intrinsic value of ACUAcme United Corp is a renowned supplier of first aid and medical products, cutting technology, and other products to various markets including school, home, office, hardware, sporting goods, and industrial markets. The company's principal products sold across all segments are first aid kits and medical products, scissors, shears, knives, rulers, pencil sharpeners, and sharpening tools. The company operates in the United States, Canada, and Europe, with the majority of its revenue derived from the United States.Acme United Corp (ACU) Stock Price Soars by 21.30% Over the Past Three MonthsProfitability AnalysisAcme United Corp has a Profitability Rank of 9/10, indicating a high level of profitability. The company's Operating Margin is 4.33%, which is better than 47.63% of companies in the same industry. The company's ROE, ROA, and ROIC are 4.86%, 2.33%, and 4.63% respectively, all of which are above average compared to other companies in the industry. The company has consistently shown profitability over the past 10 years, better than 99.94% of companies.Acme United Corp (ACU) Stock Price Soars by 21.30% Over the Past Three MonthsGrowth ProspectsThe company's Growth Rank is 9/10, indicating strong growth potential. The company's 3-year and 5-year revenue growth rates per share are 8.10% and 7.80% respectively, better than over half of the companies in the same industry. However, the company's 3-year and 5-year EPS without NRI growth rates show mixed results, with a decrease of 20.00% over the past three years but an increase of 5.50% over the past five years.Story continuesAcme United Corp (ACU) Stock Price Soars by 21.30% Over the Past Three MonthsMajor Stock HoldersThe top three holders of the company's stock are Chuck Royce (Trades, Portfolio), Jim Simons (Trades, Portfolio), and Diamond Hill Capital (Trades, Portfolio). Chuck Royce (Trades, Portfolio) holds 141,115 shares, accounting for 3.98% of the total shares. Jim Simons (Trades, Portfolio) holds 125,607 shares, accounting for 3.52% of the total shares. Diamond Hill Capital (Trades, Portfolio) holds 9,041 shares, accounting for 0.25% of the total shares.Competitor AnalysisAcme United Corp faces competition from Grove Collaborative Holdings Inc (NYSE:GROV) with a market capitalization of $121.859 million, Peregrine Industries Inc (PGID) with a market capitalization of $15.626 million, and Naples Soap Co Inc (NASO) with a market capitalization of $40.232 million.ConclusionIn conclusion, Acme United Corp has shown strong performance over the past three months with a significant increase in its stock price. The company's profitability and growth ranks indicate a high level of profitability and strong growth potential. However, the company faces competition from other companies in the Consumer Packaged Goods industry. Despite the competition, the company's consistent profitability and strong growth potential make it a promising investment.This article first appeared on GuruFocus. | GuruFocus.com | "2023-08-24T15:13:29" | Acme United Corp (ACU) Stock Price Soars by 21.30% Over the Past Three Months | https://finance.yahoo.com/news/acme-united-corp-acu-stock-151329096.html | 3e45fb32-4291-3c8c-bd97-395419373f59 |
ADBE | A Mizuho analyst boosted his rating on Adobe stock to Buy, citing demand for the software provider’s artificial intelligence tools and improved fundamentals. Gregg Moskowitz’s upgrade from Neutral comes ahead of the company’s fiscal third-quarter earnings results on Thursday. Adobe stock (ticker: ADBE) opened Friday almost 2% higher, but has since pared those gains.Continue reading | Barrons.com | "2023-09-08T17:36:00" | Adobe Stock Gets a Buy Rating Ahead of Earnings. AI Is Just One Reason. | https://finance.yahoo.com/m/a5ceef05-efc5-3e5b-9fdf-baa12692861d/adobe-stock-gets-a-buy-rating.html | a5ceef05-efc5-3e5b-9fdf-baa12692861d |
ADBE | Key InsightsThe projected fair value for Adobe is US$588 based on 2 Stage Free Cash Flow to EquityAdobe's US$560 share price indicates it is trading at similar levels as its fair value estimate The US$551 analyst price target for ADBE is 6.2% less than our estimate of fair valueToday we'll do a simple run through of a valuation method used to estimate the attractiveness of Adobe Inc. (NASDAQ:ADBE) as an investment opportunity by taking the expected future cash flows and discounting them to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. View our latest analysis for Adobe Crunching The NumbersWe are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:Story continues10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$8.70bUS$10.1bUS$11.8bUS$13.1bUS$14.0bUS$14.8bUS$15.5bUS$16.1bUS$16.6bUS$17.1bGrowth Rate Estimate SourceAnalyst x17Analyst x5Analyst x1Analyst x1Est @ 7.18%Est @ 5.67%Est @ 4.61%Est @ 3.88%Est @ 3.36%Est @ 3.00% Present Value ($, Millions) Discounted @ 7.1% US$8.1kUS$8.8kUS$9.6kUS$9.9kUS$9.9kUS$9.8kUS$9.5kUS$9.3kUS$8.9kUS$8.6k("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$92bAfter calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.2%. We discount the terminal cash flows to today's value at a cost of equity of 7.1%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$17b× (1 + 2.2%) ÷ (7.1%– 2.2%) = US$350bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$350b÷ ( 1 + 7.1%)10= US$176bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$268b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of US$560, the company appears about fair value at a 4.7% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.dcfImportant AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Adobe as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.1%, which is based on a levered beta of 0.998. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for AdobeStrengthDebt is not viewed as a risk.WeaknessEarnings declined over the past year.OpportunityAnnual revenue is forecast to grow faster than the American market.Current share price is below our estimate of fair value.ThreatAnnual earnings are forecast to grow slower than the American market.Next Steps:Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For Adobe, we've compiled three fundamental items you should further examine:Risks: Case in point, we've spotted 1 warning sign for Adobe you should be aware of.Future Earnings: How does ADBE's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NASDAQGS every day. If you want to find the calculation for other stocks just search here.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. | Simply Wall St. | "2023-09-10T11:00:14" | Calculating The Intrinsic Value Of Adobe Inc. (NASDAQ:ADBE) | https://finance.yahoo.com/news/calculating-intrinsic-value-adobe-inc-110014976.html | 17646994-7d36-3ba7-8f17-cb23dab79e9f |
ADC | Does this pain extend to Agree Realty (NYSE: ADC)? Agree Realty is a net lease real estate investment trust (REIT). Net lease REITs develop properties and then lease them out under long-term leases called triple-net leases.Continue reading | Motley Fool | "2023-08-25T10:03:00" | Is Agree Realty a Buy? | https://finance.yahoo.com/m/9b3dd604-bd8b-3d33-9e58-fe7adf8dacae/is-agree-realty-a-buy-.html | 9b3dd604-bd8b-3d33-9e58-fe7adf8dacae |
ADC | Real estate investment trusts (REITs) lend themselves to that strategy. Casino owner Vici Properties (NYSE: VICI) and retail landlord Agree Realty (NYSE: ADC) are two particularly good options for that $2,000 you might have sitting there waiting to invest. The chart above shows how Agree Realty and Vici Properties have performed in total returns since Vici's 2018 initial public offering (IPO) against the greater market as represented by the S&P 500.Continue reading | Motley Fool | "2023-08-25T12:59:00" | Got $2,000? 2 Simple Stocks to Buy Right Now | https://finance.yahoo.com/m/e22160ea-275c-3948-ace9-8fa147e8b0f2/got-2-000-2-simple-stocks.html | e22160ea-275c-3948-ace9-8fa147e8b0f2 |
ADEA | Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the composite delivered 1.16% net of fees (1.33% gross of fees) trailing the 5.21% total return of the Russell 2000 Index. The security selection hurt the portfolio while allocation effects positively contributed. Security selection in Communication Services and Materials along with an overweight to Industrials contributed to the relative performance while the Health Care, Information Technology, and Consumer Discretionary sectors detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.Aristotle Small Cap Equity Strategy highlighted stocks like Adeia Inc. (NASDAQ:ADEA) in the second quarter 2023 investor letter. Headquartered in San Jose, California, Adeia Inc. (NASDAQ:ADEA) is a media and semiconductor intellectual property licensing company. On August 24, 2023, Adeia Inc. (NASDAQ:ADEA) stock closed at $9.81 per share. One-month return of Adeia Inc. (NASDAQ:ADEA) was -16.08%, and its shares gained 27.89% of their value over the last 52 weeks. Adeia Inc. (NASDAQ:ADEA) has a market capitalization of $1.047 billion.Aristotle Small Cap Equity Strategy made the following comment about Adeia Inc. (NASDAQ:ADEA) in its second quarter 2023 investor letter:"Adeia Inc. (NASDAQ:ADEA) is an intellectual property (IP) licensing business with patent assets focused on the media and semiconductor end markets. The company was spun off and rebranded from our former portfolio holding Xperi, and after further analysis, we decided to sell our position."cellanr, CC BY-SA 2.0 <https://creativecommons.org/licenses/by-sa/2.0>, via Wikimedia CommonsAdeia Inc. (NASDAQ:ADEA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Adeia Inc. (NASDAQ:ADEA) at the end of second quarter which was 17 in the previous quarter.Story continuesWe discussed Adeia Inc. (NASDAQ:ADEA) in another article and shared the list of most undervalued technology stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles:15 Countries That Own the Most U.S. Debt25 Countries that Receive the Most Foreign Aid Per Capita11 Best Long-Term Penny Stocks to Buy NowDisclosure: None. This article is originally published at Insider Monkey. | Insider Monkey | "2023-08-25T03:36:08" | Should You Sell Adeia (ADEA)? | https://finance.yahoo.com/news/sell-adeia-adea-033608334.html | 85726458-23ca-331f-870b-e29664dfe5ab |
ADEA | Adeia Inc.SAN JOSE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) today announced that Jarl Berntzen joined Adeia as the company’s chief corporate development officer on September 5, 2023.“We are thrilled to welcome Jarl to Adeia as our chief corporate development officer. He brings extensive experience in strategy, finance and M&A advisory which will be instrumental in the execution of Adeia’s strategic growth plan,” commented Paul E. Davis, chief executive officer of Adeia.Berntzen joins Adeia from Oppenheimer & Co., where he was managing director of technology investment banking and head of technology M&A. At Oppenheimer, he was responsible for soliciting and executing M&A transactions and private capital raises across the full technology spectrum. Prior to that, Berntzen held corporate development leadership roles at Dolby Laboratories and Rambus. Earlier in his career, he worked for more than a decade in the M&A departments at Goldman, Sachs & Co., where he held the position of vice president.Berntzen is a seasoned corporate development professional with vast experience evaluating and leading technology acquisition and investment opportunities. He earned both a B.Sc. and an M.Sc. degree in Economics and Business Administration from Copenhagen Business School.“I am excited to join Adeia’s management team and contribute to Adeia’s leading IP licensing business,” said Berntzen. “I look forward to working with the team to advance Adeia’s growth objectives through strategic transactions and initiatives.”About AdeiaAdeia is a leading R&D and intellectual property (IP) licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia’s fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia’s IP portfolios power the connected devices that touch the lives of millions of people around the world every day as they live, work and play. For more, please visit www.adeia.com.Story continuesFor Information Contact:Investor RelationsChris [email protected] RelationsStephanie StockerConveyor [email protected] | GlobeNewswire | "2023-09-07T20:05:00" | Jarl Berntzen joins Adeia as Chief Corporate Development Officer | https://finance.yahoo.com/news/jarl-berntzen-joins-adeia-chief-200500214.html | 7488b3d3-a358-385d-b607-c829ab75cd9e |
ADES | Gabelli FundsThursday, September 28, 2023RYE, N.Y., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Gabelli Funds is hosting a PFAS Symposium on Thursday, September 28, 2023 at the Harvard Club in New York City. This event will focus on issues surrounding PFAS uses, replacements, and remediation. It will feature presentations from leading companies in waste and disposal services, water utilities, testing, and remediation. Attendees will also have the opportunity to meet with management in a one-on-one setting.PFAS (Per/Polyfluoroalkyl substances) are compounds that were widely used for perceived benefits in many industrial and commercial household applications; they have increasingly become an environmental and public health concern due to their persistence and inability to naturally degrade. Prospective attendees can learn more about the symposium on our website.Featured Companies:374Water (NASDAQ: SCWO)Advanced Emission Solutions (NASDAQ: ADES)American Water Works (NYSE: AWK)BioLargo (OTCM: BLGO)Casella Waste (NASDAQ: CWST)Hazen and Sawyer (Private)Heritage Environmental Services (Private)Minerals Technologies (NYSE: MTX)Montrose Environmental (NYSE: MEG)Regenesis (Private)SJW Corp (NYSE: SJW)Xylem Inc. (NYSE: XYL)Details:Gabelli Funds PFAS SymposiumSeptember 28, 2023Virtual Conference Registration: CLICK HEREFor general inquiries or to request one-on-one meetings, contact:Miles McQuillen, AVP Private Wealth Management, [email protected] Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc.Contact:Rosemarie J. Morbelli, CFA Senior VP, Specialty Chemicals (914) 921-7757 Wayne C. Pinsent, CFA VP, Specialty Chemicals (914) 921-8352 | GlobeNewswire | "2023-08-16T15:36:00" | Gabelli Funds to Host PFAS Symposium at the Harvard Club, New York City | https://finance.yahoo.com/news/gabelli-funds-host-pfas-symposium-153600474.html | 22db3717-8f4e-3569-9864-a3d3b950752e |
ADES | While it is true that penny stocks can present good opportunities for exponential gains, this is not the case with these three. Maybe at some point they gave good results, but as economists know, there is the law of diminishing marginal returns, there comes a point in the trajectory of a penny stock where it is considerable to sell the position if you have been in it, and if that is not the case, it is better to omit these investment options. Let’s take a quick look at these three penny stocks to sell.Anika Therapeutics (ANIK)Physiotherapist doing healing treatment on patient leg. Therapist wearing blue uniform. Osteopathy, Chiropractic leg adjustment. Orthopedic therapy. ATIP stck.Source: Microgen / ShutterstockAnika Therapeutics (NASDAQ:ANIK) specializes in the development of medical products for joint health. In the last quarter, it achieved revenues of $44.3 million, 12% increase over the previous year.One of their most notable achievements has been osteoarthritis pain management. It was able to generate revenues of $29.3 million, a remarkable 22% growth. However, it experienced a 33% decline in non-orthopedic revenue, with earnings amounting to only $2.3 million.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company recorded a gross margin of 65%, or an adjusted gross margin 69% when factoring in acquisition expenses. On the profit side, the company experienced a $2.7 million loss due to shareholder activities and other extraordinary costs. Excluding these expenses, this resulted in an adjusted net profit of $0.8 million. In addition, after adjusting for these adjustments, EBITDA was $6.3 million, up significantly from $4.4 million the previous year.Despite these positive developments in terms of revenue and earnings, the unfortunate news is that Anika’s share value has fallen over 37% in 2023. Although there have been definite improvements, the notable drop in share value and the resulting uncertainty could lead some investors to consider one of the penny stocks to sell.Nikola Corporation (NKLA)Nikola (NKLA) company logo on a website with blurry stock market developments in the background, seen on a computer screen through a magnifying glass.Source: Dennis Diatel / Shutterstock.comNikola Corporation (NASDAQ:NKLA) is a hydrogen fuel cell electric vehicles & battery developer. The company has pursued its business plan by strengthening its financials, curbing expenses and advanced hydrogen refueling network construction.Story continuesIn Q2, the company supplied over 110 trucks, and began production of its hydrogen fuel cell electric trucks. Nikola has 18 purchase orders for more than 200 hydrogen electric trucks so far.However, the second quarter financials reveal a negative operating income of about $168.6 million. Although the company managed to increase its cash reserves by $107.1 million, this still warrants attention and concern.Experts are concerned about the company’s history of controversies. Alleged exaggerations of the company’s technological capabilities have raised credibility questions, and a 32% year-to-date loss in stock value has left investors skeptical.Although Nikola Corporation has ambitious goals for its hydrogen electric vehicles, fears about its financial stability, technology uncertainties and questionable track record might discourage investors at this time.Advanced Emissions (ADES)Advanced Emissions Solutions (ADES) website under a magnifying glass.Source: Pavel Kapysh / Shutterstock.comLast on the list of penny stocks to sell is Advanced Emissions Solutions (NASDAQ:ADES). Advanced Emissions’ mission is to reduce harmful emissions from other companies during production.The basic concept of ADES is commendable: to make industries cleaner and less harmful to the environment. However, it experienced a year-over-year revenue decline in Q2, suggesting that its profits may not be as substantial as before.Furthermore, the company’s $5.9 million net loss indicates it is spending more than it is taking in. Additionally, the consolidated adjusted EBITDA has decreased this year, which could indicate that the company’s earnings performance is lacking. This situation is comparable to going over your allocation, not a viable long-term scenario.Unfortunately, the stock’s value has dropped by 19% year-to-date, showing that many investors are already reconsidering the investment. Overall, it may be best to categorize this as one of the penny stocks to sell.As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.More From InvestorPlaceMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.ChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementIt doesn’t matter if you have $500 or $5 million. Do this now.The post 3 Sorry Penny Stocks to Sell in August Before It’s Too Late appeared first on InvestorPlace. | InvestorPlace | "2023-08-22T11:22:39" | 3 Sorry Penny Stocks to Sell in August Before It’s Too Late | https://finance.yahoo.com/news/3-sorry-penny-stocks-sell-112239054.html | 5aa80e15-6770-3490-abfc-eb6aabf5c7ab |
ADI | WILMINGTON, Mass., September 05, 2023--(BUSINESS WIRE)--Analog Devices, Inc. (Nasdaq: ADI) today announced that the Company’s Executive Vice President, Finance & Chief Financial Officer, Prashanth Mahendra-Rajah, will discuss business topics and trends at Citi’s 2023 Global Technology Conference taking place at The New York Hilton Midtown Hotel, located in New York, New York, on Wednesday, September 6, 2023, at 11:15 a.m. EST.The webcast for the conference may be accessed live via the Investor Relations section of Analog Devices’ website at investor.analog.com. An archived replay will also be available following the webcast for at least 30 days.About Analog Devices, Inc.Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter.(ADI-WEB)View source version on businesswire.com: https://www.businesswire.com/news/home/20230905551819/en/ContactsFor more information: Michael LucarelliVice President, Investor Relations and FP&AAnalog Devices, [email protected] | Business Wire | "2023-09-05T20:00:00" | Analog Devices to Participate in Citi’s 2023 Global Technology Conference | https://finance.yahoo.com/news/analog-devices-participate-citi-2023-200000567.html | eb5f9a20-311a-3b19-ae19-8371f74ad659 |
ADI | WILMINGTON, Mass., September 06, 2023--(BUSINESS WIRE)--Analog Devices, Inc. (Nasdaq: ADI) today announced that the Company’s Executive Vice President, Finance & Chief Financial Officer, Prashanth Mahendra-Rajah, will discuss business topics and trends at the Evercore ISI 2023 Semiconductor & Semiconductor Equipment Conference taking place at the Evercore ISI Offices located in New York, New York, on Thursday, September 7, 2023, at 10:00 a.m. EST.The webcast for the conference may be accessed live via the Investor Relations section of Analog Devices’ website at investor.analog.com. An archived replay will also be available following the webcast for at least 30 days.About Analog Devices, Inc. Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter.(ADI-WEB)View source version on businesswire.com: https://www.businesswire.com/news/home/20230906334165/en/ContactsFor more information:Michael LucarelliVice President, Investor Relations and FP&AAnalog Devices, [email protected] | Business Wire | "2023-09-06T16:00:00" | Analog Devices to Participate in the Evercore ISI 2023 Semiconductor & Semiconductor Equipment Conference | https://finance.yahoo.com/news/analog-devices-participate-evercore-isi-160000287.html | 470f6596-8125-3b65-b4bc-0dd3b1904688 |
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