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Why Shares of First Solar Gained 13.2% in June Shares of solar manufacturerFirst Solar(NASDAQ: FSLR)jumped 13.2% in June, according to data provided byS&P Global Market Intelligence, as the market got more bullish on solar energy. In June, the biggest news for First Solar, and the industry more broadly, was the Solar Market Insight Report 2019 Q2 that was released by the Solar Energy Industries Association (SEIA) and energy research firm Wood Mackenzie. The report showed a record amount of solar installed in the first quarter of the year, at 2,674 megawatts (MW), and installations are expected togrow 25% this year to 13,000 MW. Image source: First Solar. First Solar isn't the only company that will benefit from higher solar installations, but it might have the most to gain. It has more domestic manufacturing than any other company, and its thin-film solar panels are exempt from solar tariffs. If that translates to higher demand and pricing, it could mean a great year operationally. The bullish sentiment is really speculation that future revenue and earnings will be better than previously expected. But we haven't seen the operational improvement that's being priced in, and may not for a few more quarters. What investors will want to watch for in the rest of 2019 are signs that solar panel pricing is stabilizing, or rising, and backlog for future sales is growing. If both of those things happen, First Solar will continue its hot streak. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Travis Hoiumowns shares of First Solar. The Motley Fool recommends First Solar. The Motley Fool has adisclosure policy.
This Kuvings cold press juicer can process whole fruits — and it's $40 off Twitter Facebook TL;DR: This whole fruit slow juicer is priced at $399.95 on Kuvings' website, but Amazon has it on sale for only $359. Just as you swapped your puffy winter coats for strappy summer clothes, you likely made a seasonal adjustment to your go-to-drink order: out with the frothy lattes, in with the cold-pressed juice. You know the stuff: It's a type of juice that's processed slowly and carefully — crushed, essentially —so as not to mess with any of your produce's precious nutrients. It's delicious and healthy and gosh-darn refreshing in the thick heat of summer. And it's expensive — usually about $10 to $12 per bottle, depending on the juice bar. Read more... More about Health , Mashable Shopping , Shopping Solo , Juicers , and Tech
Drivers Can Easily Save Car Insurance Money on This 4th of July Holiday Season LOS ANGELES, CA / ACCESSWIRE / July 3, 2019 /Compare-autoinsurance.org has launched a new blog post that presents several tips that will help drivers save car insurance money on this 4thof July Holiday season. For more info and free online car insurance quotes, visithttps://compare-autoinsurance.org/how-to-save-money-on-car-insurance-on-this-4th-of-july/ The Holiday of Independence Day is one of the busiest periods in the whole year. People all across the county are gathering together with their families and friends in order to celebrate this 4thof July. Everyone is waiting for the night in order to witness the moments when the skies are filled with colorful fireworks that burst through the dark night. However, while everyone is celebrating, there are some that are thinking of ways to save money on car insurance. Drivers who want to pay cheaper car insurance during this holiday season should follow the next tips: • Look for driver discounts.Car insurance companies are famous for offering various types of discounts to their customers. Drivers with clean driving history can access these types of discount. Also, students with good grades are also helped by their insurers to pay less on their premiums. • Pay for the whole policy in advance.Drivers can easily save a large amount of money at the beginning of their policies. All they have to do is to pay for the whole policy in advance. • Raise the deductibles. Drivers that need to file a claim, are required to pay a certain amount in advance. This amount is called a deductible. Drivers that agree to pay more money out of their pockets before the insurance begins, will pay less on their car insurance premiums. • Shop for the right car. Although many drivers feel attracted by sports cars, exotic cars, muscle cars, or limousines, buying such a vehicle is expensive and the insurance policy is not cheap also. Drivers that want to save money on car insurance should check the offers for family vans, or mid-size SUV's. Although they are not attractive as a muscle car, these types of vehicles have high safety ratings and they are cheap to insure. • Bundle different policies. Bundling different policies is a smart method of saving car insurance money that is available to anyone. Drivers can go their insurers and bundle their homeowner's insurance together with the car insurance. • Drop full coverage on older vehicles. It is known that regular vehicles lose value over time. Policyholders that own an older vehicle, might be overpaying for their insurance if they still have full coverage. To determine if they are overpaying for insurance, drivers should obtain their vehicle market value from a site or an auto dealer, and then compare it with the costs of full coverage for 10 months. If the market value of the vehicle is lower, the policyholder should drop full coverage. For additional info, money-saving tips and free car insurance quotes, visithttps://compare-autoinsurance.org/ Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "4thof July is a time where friends and families gather together in order to celebrate the birth of our nation. However, this Holiday season is also good for seeking better car insurance. Many insurers are offering discounts during this period", said Russell Rabichev, Marketing Director of Internet Marketing Company. Contact:[email protected] SOURCE:Internet Marketing Company View source version on accesswire.com:https://www.accesswire.com/550733/Drivers-Can-Easily-Save-Car-Insurance-Money-on-This-4th-of-July-Holiday-Season
A German tourist faces 10 years in US prison for smuggling endangered cactus seeds Last month, Simon Andreas Langer and his girlfriend completed a month-long trip across the American Southwest. Now he’s facing federal smuggling charges for allegedly trying to take home endangered cactus seeds. The charge carries a potential prison term of up to 10 years . Langer, who is from the Black Forest region of southern Germany, belongs to an avid community of cactus aficionados across Europe. He shares photos of sightings on a website focused on cacti and succulents, and keeps more than 200 cacti at home. Jeffrey Epstein’s fortune is built on fraud, a former mentor says Langer had gone to the Leslie Canyon National Wildlife Refuge in Arizona to get a firsthand glimpse of the rare Coryphantha robbinsorum cactus , commonly known as the “Cochise Pincushion.” the US Fish and Wildlife Service put the species on the endangered list in 1986. Langer managed to photograph the Cochise Pincushion, as luck would have it, in Cochise County, Arizona , not far from the Mexican border. From there, Langer and his girlfriend made their way to Colorado, camping out in national parks at night. On June 24, according to court filings reviewed by Quartz, Langer and his partner arrived at Denver International Airport for an overnight flight to Zurich, Switzerland. They checked two bags. Officers from US Customs and Border Protection (CBP) and an agent from the US Fish and Wildlife Service took a look inside. They had been tipped off by a deputy sheriff who had seen Langer acting suspiciously near a stand of cacti a couple of weeks earlier. The simplest way to improve your credit score is by using your email In Langer’s suitcase, the agent found a white cardboard box. It had a “Route 66” logo embossed on the side, with a handwritten note taped to the top. “CACTUS SEEDS—NO CITES 1 or U.S. FISH & WILDLIFE SEEDS OR PLANTS INSIDE!” it read, with a sketch of a Saguaro cactus underneath. “CITES 1” refers to Appendix I of the Convention on International Trade in Endangered Species , a global treaty that has regulated the wildlife trade since 1975. CITES Appendix I lists species that are most endangered. The Cochise Pincushion, which is threatened, is listed in CITES Appendix II. Possessing these kinds of seeds without a permit is illegal. Story continues Inside, the agent found 111 glassine envelopes, each containing cactus seeds. Each envelope had the name of a cactus genus written on the front. At least one of the envelopes contained seeds listed as endangered, and no fewer than six contained threatened seeds listed in CITES Appendix II. In a scene you might expect to unfold around international criminals, and maybe not plant collectors, Langer and his girlfriend were intercepted on the jetway just as they were about to get on their flight. Langer at first denied knowing it was illegal to have the seeds, but the girlfriend, who feared being charged as an accomplice, told cops Langer knew full well he was breaking the law. Loving plants to death Plant poaching isn’t new, but it’s a growing problem in the United States as a new appreciation for plants—particularly cacti and succulents—turn public lands into potentially illicit payouts. The National Park Service is now injecting GPS trackers into Arizona’s famous saguaro cacti to catch people who carry off the ancient, slow-growing giants. They can sell for about $100 per foot of height on the black market, according to the Guardian . Wild ginseng and other protected plants considered medicinal are also regularly poached from state and federal lands. Ginseng poaching is a particular problem along the Blue Ridge Parkway and in Shenandoah National Park , both in Virginia, and from Great Smoky Mountains National Park in North Carolina and Tennessee. The National Parks Service has dedicated efforts to monitor desirable plants and catch poachers. In May, a man was sentenced to two years in prison for poaching more than 500 federally protected cacti from around California’s Lake Mead National Recreation Area. He sold the plants online over a period of four years to buyers in more than 20 countries. Last year, authorities seized nearly 664 pounds of succulents poached from state parks in Northern California. They estimated the haul to be worth more than $600,000. Three men from South Korea were charged last month with conspiracy to smuggle the plants back to Asia, where they would be sold on the black market. “I’d call it a poaching trend,” Patrick Foy of the California Department of Fish and Wildlife told the New Yorker . He began to see cactus and succulent poaching along the California coast starting in 2017. “They harvest the plants, process everything in a hotel room, oftentimes, and ship them back to nurseries in Korea and China.” Langer said he was driven to commit his crime by—in his own words—a collector’s desire to have something no one else had. He told the US Fish & Wildlife Service agent that “nobody in Germany” has living examples of the Cochise Pincushion. Langer’s modus operandi, from beginning to end, didn’t impress one longtime investigator, who has worked on everything from international drug trafficking cases to white collar criminal investigations. “A rookie,” former FBI agent Dennis Franks told Quartz, pointing to the highly unconvincing note taped to the outside of Langer’s box. “Most professionals would go out of their way not to bring any attention to the package at all. Amateurish at best.” Langer’s passport was confiscated, pending resolution of the case. He is free on $5,000 bond. Read the full text of the Langer complaint here: View this document on Scribd Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The glow of the historic accord between Ethiopia and Eritrea has faded Zimbabwe banned the US dollar from being used so local bitcoin demand is soaring again
Is Louisiana-Pacific Corporation (NYSE:LPX) A Volatile Stock? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you're interested in Louisiana-Pacific Corporation (NYSE:LPX), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories. The first category is company specific volatility. This can be dealt with by limiting your exposure to any particular stock. The other type, which cannot be diversified away, is the volatility of the entire market. Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). However, Warren Buffett said 'volatility is far from synonymous with risk' in his 2014 letter to investors. So, while useful, beta is not the only metric to consider. To use beta as an investor, you must first understand that the overall market has a beta of one. A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. View our latest analysis for Louisiana-Pacific Looking at the last five years, Louisiana-Pacific has a beta of 1.39. The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility. If the past is any guide, we would expect that Louisiana-Pacific shares will rise quicker than the markets in times of optimism, but fall faster in times of pessimism. Many would argue that beta is useful in position sizing, but fundamental metrics such as revenue and earnings are more important overall. You can see Louisiana-Pacific's revenue and earnings in the image below. Louisiana-Pacific is a reasonably big company, with a market capitalisation of US$3.3b. Most companies this size are actively traded with decent volumes of shares changing hands each day. It takes a lot of money to influence the share price of large companies like this one. That makes it interesting to note that its share price has a history of sensitivity to market volatility. There might be some aspect of the business that means profits are leveraged to the economic cycle. Since Louisiana-Pacific tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock. This article aims to educate investors about beta values, but it's well worth looking at important company-specific fundamentals such as Louisiana-Pacific’s financial health and performance track record. I highly recommend you dive deeper by considering the following: 1. Future Outlook: What are well-informed industry analysts predicting for LPX’s future growth? Take a look at ourfree research report of analyst consensusfor LPX’s outlook. 2. Past Track Record: Has LPX been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of LPX's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how LPX measures up against other companies on valuation. You could start with thisfree list of prospective options. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Trump congratulates Navy SEAL for acquittal on war crimes charges: 'Glad I could help!' President Trump on Wednesday praised a Navy SEAL who was acquitted of committing war crimes in the killing of a wounded ISIS captive in Mosul, Iraq. Congratulations to Navy Seal Eddie Gallagher, his wonderful wife Andrea, and his entire family, Trump tweeted Wednesday. You have been through much together. Glad I could help! A jury of seven soldiers found Special Operations Chief Edward Gallagher not guilty on Tuesday of charges that included killing unarmed civilians. Gallagher was found guilty of wrongfully posing with the corpse of the 12-year-old ISIS fighter, a charge that carries a maximum prison sentence of four months. Navy Special Operations Chief Edward Gallagher and his wife, Andrea, leave a military court on Naval Base San Diego; President Trump. (Photos: Gregory Bull/AP, Evan Vucci/AP) Trumps tweet came after a Wednesday interview on Fox & Friends during which Gallagher thanked Trump, Fox News and two congressmen for their support during his trial. The president had previously considered pardoning Gallagher if he was found guilty. They tried to frame me as a criminal from the get-go, but we knew the truth the whole time, Gallagher told Fox News. We knew I was innocent of these charges the whole time, and I overcame it by having my strong wife with me the whole time. Two Navy SEALs in Gallaghers unit testified that they saw Gallagher stab the fighter, but one changed his story on the stand by saying he, and not Gallagher, caused the victims death by suffocating him. Gallaghers attorney said outside court on Tuesday that he would likely go home Wednesday because he has already served time in pretrial detention. Trump demanded in March that Gallagher be set free from a military brig and placed in confinement at a Navy base. The judge presiding over the case released Gallagher from custody altogether in May. In honor of his past service to our Country, Navy Seal #EddieGallagher will soon be moved to less restrictive confinement while he awaits his day in court. Process should move quickly! @foxandfriends @RepRalphNorman Donald J. Trump (@realDonaldTrump) March 30, 2019 Rep. Duncan Hunter, R-Calif., one of the congressmen Gallagher thanked on Wednesday, previously advocated for pardoning Gallagher and admitted to taking a photo with a dead combatant himself during his time as a Marine. Story continues Gallagher is expected to be sentenced on Wednesday for the charge of posing for a photo with a casualty. His lawyer told Fox News that he expects Gallagher to be released Wednesday because he spent more time in pretrial detention than the length of the maximum sentence. _____ Read more from Yahoo News: GOP whip Scalise cites Trump accusers bizarre CNN interview in doubting her account Pentagon secretly struck back against Iranian cyberspies targeting U.S. ships Trump admits his Cabinet had 'some clinkers' 'Great Replacement' ideology is spreading hate in U.S. and across the globe How Europe's smallest nations are battling Russia's cyberattacks PHOTOS: Hong Kong protesters take over legislative chambers
Ocean Rate Report: U.S. Soybean Sales Could Bolster Dry Bulk ‘Tis the season in ocean shipping when deal-making grinds to a halt – when ship owners pine for the Greek islands and their investment bankers plot sojourns in the French Riviera and Amalfi Coast. Not every year pans out the same way, however. On the transaction front, ship owners and bankers might as well have been on vacation since January. The entire year has been August-esque. On the other hand, when it comes to rates, 2019 has felt like something is happening. You certainly wouldn't know it from investor sentiment, but there has been positive progress in the first half. Two examples are dry bulk, which is admittedly up off a low base, and liquefied petroleum gas (LPG) shipping, which is doing extremely well by any measure. Mine reopening and trade truce bolster bulk There have recently been two positive developments for the dry bulk sector. First, a truce in the U.S.-China trade war was signaled at the G20 summit on June 29. This included a vague promise of Chinese purchases of U.S. soybeans, a commodity that is generally carried aboard Panamaxes, bulkers which have carrying capacities of 65,000-90,000 deadweight tons (DWT), and Supramaxes (45,000-60,000 DWT). There was also an announcement on June 28 of an actual Chinese purchase order for 544,000 tons of U.S. soybeans, the largest order since early April. Clarksons Platou Securities analyst Frode Mørkedal commented, "The U.S.-China ceasefire... should help support Panamax and Supramax earnings in particular, although clearly this is also good news for the whole dry bulk sector." The other positive news hook in dry bulk centers on Capesizes (bulkers of 100,000 DWT or more). As Evercore ISI analyst Jon Chappell put it, "Brucutu is back." The 30 million tons per year (mtpa) Brucutu iron-ore mine in Brazil had been closed since the tragic tailings dam accident in January. Mine ownerVale(NYSE:VALE) announced on June 19 that it would reopen the mine after winning an appeals court decision. Iron ore is shipped from Brazil to China aboard either Capesizes or larger 400,000 DWT Valemaxes. The voyage to China from Brazil is three times as long as the trip from Australia to China, meaning that losses of Brazilian exports have three times the negative effect on shipping demand as losses from Australia. Chappell noted, "It is important to highlight that increased Brazilian exports in the second half of 2019 should boost Capesize ton-miles, which is especially important as Rio Tinto cut its full-year iron-ore production guidance mid-point by 29 million mtpa owing to operational issues in Australia." According to data from Clarksons Platou Securities, Capesize rates as of July 3 were $21,100 per day, up 14 percent week-on-week and up 62 percent month-on-month. Panamax rates were $12,400 per day, up 16 percent week-on-week. All of which has done surprisingly little to sway sentiment on dry bulk, which remains weak. Allied Shipbroking research analyst Thomas Chasapis asked, "Given that realized earnings are relatively good, why is there such a poor feeling being expressed towards the market?" He added it was rare to see "this level of disconnect." The answer is likely to be the opposite of ‘The Boy Who Cried Wolf.' Market participants and investors have heard this turnaround called (wrongly) too many times before. Public companies with spot Capesize, Panamax or Supramax exposure:Eagle Bulk(NASDAQ:EGLE),Genco Shipping & Trading(NYSE:GNK),Golden Ocean(NASDAQ:GOGL),Scorpio Bulkers(NYSE:SALT),Star Bulk(NASDAQ:SBLK),Safe Bulkers(NYSE:SB),Seanergy(NASDAQ:SHIP) LPG shipping rates maintain high levels Rates in the LPG shipping sector feels more ‘solid' than in dry bulk, and are hovering in the vicinity of multi-year highs. According to data from Clarksons Platou Securities, rates as of July 3 for very large gas carriers (VLGCs, which have a carrying capacity of 84,000 cubic meters) were $63,200 per day, essentially flat week-on-week and up 28 percent month-on-month. The LPG shipping rate outlook was a focus of a Capital Link webinar held on July 2, featuring speakers from Dorian LPG and Avance Gas. "The market is strong and rates are staying on the high side as a result of a shortage of ships," commented John Lycouris, chief executive officer (CEO) of Dorian LPG (USA) LLC. He pointed to the propane arbitrage between the U.S. and Asia, which allows traders to buy U.S. propane and sell it in Asia for a profit after subtracting transport costs. Dorian-owned VLGC Constellation. Photo courtesy of Dorian LPG "We have a great arbitrage opportunity between the U.S. and the Far East," said Lycouris. "Domestic U.S. demand has been slack – it has fallen, actually – and as a result, U.S. inventories have increased and the product has become cheaper and cheaper, and therefore it needs to move. Also, Middle East pricing [for LPG exports to Asia] has been higher due to events in the region and the OPEC cutbacks." Peder Carl Gram Simonsen, chief financial officer and interim CEO of Avance Gas, emphasized that "the share of U.S. production going to exports [versus domestic consumption] has increased significantly" and that "Japan and Korea are taking a very large share of U.S. volumes." When asked whether VLGC spot rates could top $100,000 per day as they did in 2014-15, Simonsen replied, "They could, but it's a bit more balanced now [between supply and demand], so I don't think we will see the massive rates we had back then." Public companies with spot VLGC exposure:Dorian LPG(NYSE:LPG), BW Gas (Oslo: GAS), Avance Gas (Oslo: AVANCE) Container freight rates perking up After a dip and a quick recovery in May, global container rates were fairly flat throughout June, but now they seem to perking up, at least somewhat. Is this the start of the seasonal upswing that peaks in the third quarter? The Frieghtos Baltic Daily Index (Global), which tracks the change in pricing for 40-foot containers on a worldwide basis, has shown an uptick over the past few days. Its indices on individual trade lanes show a particular strength in recent days for China-Mediterranean freight rates. On a positive note for the moribund trans-Pacific market, the Drewry World Container Index (Shanghai to Los Angeles), which measures weekly average pricing from China to California, showed an increase in the last week of June. According to Mørkedal at Clarksons Platou Securities, "The U.S.-China trade war truce likely means that the possible 25 percent tariff on all the remaining imports is delayed and will not affect the third quarter peak season, which should be good news for liners." Public shipping companies with exposure to spot box shipping rates: Maersk, Hapag-Lloyd,Matson(NYSE:MATX) See more from Benzinga • Drugs At Sea – More Coke Plus More Ships Equals More Problems • Illinois Leads The Way With The Biggest Diesel Tax Increase On July 1 • Mega-Industrial Project Proposed South Of Atlanta © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
25 years of women being underrepresented in medical research, in charts The issue of gender bias in research is not a new problem, but it is a persistent one. Today (July 3) researchers from the Allen Institute for Artificial Intelligence in Seattle published work looking at women’s participation in medical research over 25 years, from 1993 to 2018. They analyzed over 43,000 research studies in PubMed, a searchable database of biomedical science, and 13,000 clinical trials registered on clinicaltrials.gov. Jeffrey Epstein’s fortune is built on fraud, a former mentor says Overall, women made up 49% of all participants across all studies—so far, so good. But when the researchers looked at studies condition by condition, they found that women were often underrepresented. For many disease types, the proportion of female participants didn’t match the gender breakdown of real-world patients. Five conditions showed especially dramatic discrepancies: cardiovascular disease, hepatitis, HIV, chronic kidney disease, and digestive disease. The simplest way to improve your credit score is by using your email Clinical research on diabetes, mental health, non sex-specific cancers, and respiratory disease had roughly equal representation. The only two categories in which women were somewhat overrepresented were neurological conditions and musculoskeletal conditions. Presumably, this means that men were underrepresented in this kind of research. This analysis agrees with previous research into gender bias in research, though at an expanded scale. The researchers used a system called Semantic Scholar, which uses artificial intelligence to comb through thousands of scientific articles. Previous work, relying on manual data entry, has been limited to smaller sets of studies. But both approaches show how difficult gender bias has been to eliminate. Historically, doctors and scientists used relatively thin men to stand in for most patients. Michelle Berlin, a physician and the director of Oregon Health and Science University’s Center for Women’s Health, recalls being taught to base physiological assumptions on a male patient in the early 1980s. And yet clearly, “ children are not small men, and women are not small men, either,” she says. Story continues So in 1993—the year in which the oldest studies in this analysis were published—US Congress passed the National Institutes of Health Revitalization Act. It states that women and people of color have to be included in government-funded clinical research. The law recognized that gender bias in research existed. Yet it didn’t mandate real-world benchmarks for women and minority research participation. Additionally, the Revitalization Act only applies to federally-funded research. The majority of clinical trials are funded by the pharmaceutical industry, says Melina Kibbe, a vascular surgeon at the University of North Carolina who has studied the underuse of female animal models in pre-clinical research. The US Food and Drug Administration, which approves pharmaceutical products, requires that women are included in research, but doesn’t require that their participation is proportional to the burden of disease. Failing to study women can have serious health consequences. Consider heart disease: Women are historically underrepresented in cardiovascular research because they often have different symptoms than men. For women, a heart attack could feel similar to indigestion—not pain in the chest. This bias is at least partly responsible (pdf) for the fact that women are less likely to survive a heart attack, particularly when treated by a male doctor . Women have also been the victims of unforeseen bad reactions to certain drugs. In a span of three years from 1997 to 2000, 8 of the 10 drugs for which the FDA withdrew its approval had harmful side effects for women. In 2013, the FDA recognized that the active ingredient in Ambien took longer for women to process than men, potentially leaving women dangerously groggy in the morning. Now the agency recommends that women take half-size doses. To change the system, researchers need to address the social barriers that can discourage or prevent women from participating in clinical trials. Health care providers don’t always take women’s symptoms as seriously as they do men’s, meaning they may not be considered sick enough to participate in a clinical trial. Additionally, because women are often caregivers, they may have extra time and transportation constraints that limit their ability to return for follow up visits, Berlin says. By continuing to point out gender bias in research, the hope is that researchers will start to change their practices, says Waleed Ammar, one of the co-authors of the paper, published in the journal JAMA Network Open. If researchers don’t, medical science won’t benefit everyone. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The glow of the historic accord between Ethiopia and Eritrea has faded Zimbabwe banned the US dollar from being used so local bitcoin demand is soaring again
Who Has Been Selling Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So we'll take a look at whether insiders have been buying or selling shares inGrand Canyon Education, Inc.(NASDAQ:LOPE). It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, rules govern insider transactions, and certain disclosures are required. Insider transactions are not the most important thing when it comes to long-term investing. But it is perfectly logical to keep tabs on what insiders are doing. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for Grand Canyon Education In the last twelve months, the biggest single sale by an insider was when the Chief Information Officer, Joseph Mildenhall, sold US$592k worth of shares at a price of US$118 per share. So we know that an insider sold shares at around the present share price of US$118. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern. We note that in the last year insiders divested 9000 shares for a total of US$1.1m. Grand Canyon Education insiders didn't buy any shares over the last year. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! I will like Grand Canyon Education better if I see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying. Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Grand Canyon Education insiders own about US$74m worth of shares. That equates to 1.3% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment. It doesn't really mean much that no insider has traded Grand Canyon Education shares in the last quarter. Still, the insider transactions at Grand Canyon Education in the last 12 months are not very heartening. But we do like the fact that insiders own a fair chunk of the company. Of course,the future is what matters most. So if you are interested in Grand Canyon Education, you should check out thisfreereport on analyst forecasts for the company. Of courseGrand Canyon Education may not be the best stock to buy. So you may wish to see thisfreecollection of high quality companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Southeast Is Sizzling, Hurricane Barbara Gets Stronger The heat is on:Drivers: If you're planning to head through the Southeast today, pack plenty of extra ice and water in your coolers! The heat will dangerously uncomfortable. Temperatures will reach the upper 90s to 100° in many spots from southern Florida to North Carolina. The National Weather Service (NWS) has issuedHeat Advisoriesfor the Orlando, Jacksonville, Tampa, Tallahassee, Myrtle Beach and Wilmington metro areas where the heat index will hit of 105°-110°. It's important to take your breaks inside air-conditioned spaces, especially if you have a heart or respiratory condition. Pop-up storms almost coast to coast:More scattered showers and thunderstorms will pop up today and tonight from the Rockies to parts of the East Coast. There's a chance for isolated strong/severe thunderstorms in spots from Idaho all the way to the mid-Atlantic, including Baltimore and Washington, D.C. A concentrated area of storms producing large hail, intense winds and/or flash flooding is possible between the I-90 and I-94 corridors through the Dakotas. This would affect drivers going through Casper, Rapid City, Aberdeen, Bismarck, Fargo and places in between. A few potent storms may also douse areas along the I-95 corridor from Miami to Virginia Beach. Barbara becomes a beast:Hurricane Barbara got stronger overnight and now has sustained winds of 155 mph, a high-endCategory 4 storm! This is as strong as Hurricane Michael at landfall in the Florida Panhandle last October. Thankfully, Barbara is nowhere close to land right now. The eye is 2,000 miles from Hilo, Hawaii and 1,200 miles from Cabo San Lucas. Hurricane-force winds (minimum 74 mph) extend up to 45 miles from the eye, and tropical storm-force winds (minimum 39 mph) extend up to 185 miles from the eye. Barbara is forecast to weaken over the next few days and move closer to Hawaii by early next week. Ocean freighters will have to keep steering clear. Image Sourced by Pixabay See more from Benzinga • Ocean Rate Report: U.S. Soybean Sales Could Bolster Dry Bulk • Drugs At Sea – More Coke Plus More Ships Equals More Problems • Illinois Leads The Way With The Biggest Diesel Tax Increase On July 1 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Democrats' suit for Trump's tax returns assigned to Trump-appointed judge House Democrats’ legal bid for President Donald Trump’s tax returns has been assigned to a district court judge appointed by Trump. Trevor McFadden is slated to hear a suit filed Tuesday by lawmakers demanding the administration turn over six years of the president’s tax filings. McFadden has previously ruled for the administration in another high-profile fight with Democrats, when he decided that lawmakers did not have the legal standing to sue to prevent Trump from reassigning money appropriated by Congress to build a wall along the border with Mexico. The administration is likely to pursue a similar argument in the tax-return case, experts predict, by contending that the court should not get involved in the long-running battle between Congress and the administration. Trump has defied a decades-old tradition of presidents voluntarily releasing their tax returns. Ways and Means Chairman Richard Neal (D-Mass.) is seeking Trump’s filings under a 1924 law allowing the heads of Congress’s tax committees to examine anyone’s private tax information. The administration has rejected a subpoena for the documents, saying Democrats do not have a legitimate reason for seeking his returns. In the dispute over border funding, McFadden wrote last month: “While the Constitution bestows upon Members of the House many powers, it does not grant them standing to hale the Executive Branch into court claiming a dilution of Congress’s legislative authority.” “The Court therefore lacks jurisdiction to hear the House’s claims,” he said. Democrats are appealing the decision. McFadden, a one-time police officer, was confirmed to his post by the Senate in October 2017 on an 84-10 vote. Darren Samuelsohn contributed to this report.
BMO Resumes Coverage On Gold Stocks: Bullish On Barrick, Neutral On Newmont BMO Capital Markets resumed coverage of severalgoldstocks Wednesday with a bullish stance onBarrick Gold Corp(NYSE:GOLD) and a neutral stance onNewmont Goldcorp Corp(NYSE:NEM). The Analyst Andrew Kaipresumed coverage of Barrick Gold and upgraded the stock from Market Perform to Outperform with a price target lifted from $14.50 to $20. Kaip also resumed coverage of Newmont's stock with a downgrade from Outperform to Market Perform and a price target lowered from $45 to $42. Barrick: Unlocked Value Through JV Barrick's Nevada joint venture with Newmont should unlock value for Barrick, Kaip said in the Wednesday upgrade note. (See his track record here.) As part of the joint venture, Barrick has a 61.5% ownership stake of the Nevada operation that is meant to unlock up to $5 billion in pre-tax net present value over the next 20 years, the analyst said. Barrick likely "had to give a little" on the net present value and future reserve front to secure the agreement, although the benefits from the deal likely outweigh the costs, he said. Newmont: Newmont's 2019 acquisition of Goldcorp and the JV with Barrick are both "accretive events," but investor concern with the Goldcorp deal and recent concerning headlines should "temper investor interest," Kaip said in the downgrade note. A downgrade of Newmont is a "tough call" to make, but likely justified until Newmont is "able to demonstrate value," the analyst said. A rating revision could be made when the Goldcorp acquisition and Nevada JV show benefits, although any material results are unlikely to be seen until late 2019 or early 2020, according to BMO. Price Action Barrick Gold shares were trading higher by 1.35% to $15.80 at the time of publication Wednesday, while Newmont shares were up 0.88% at $38.78. Related Links: Gold ETFs Are Having A Moment Strap Yourselves In - Gold May Take Off Like A Rocketship Latest Ratings for GOLD [{"Jul 2019": "May 2019", "": "", "Upgrades": "Downgrades", "Market Perform": "Buy", "Outperform": "Neutral"}, {"Jul 2019": "Apr 2019", "": "", "Upgrades": "Upgrades", "Market Perform": "Hold", "Outperform": "Buy"}] View More Analyst Ratings for GOLDView the Latest Analyst Ratings See more from Benzinga • What We Know About AT&T's Potential Interest In Selling Sports Networks • Bruce Linton Tells CNBC He Was 'Terminated' From Canopy Growth • Symantec Shares Are Flying On Report Broadcom Is Eyeing A Takeover © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Germany's Merkel absorbs domestic heat to get her woman to EU helm * Weakened Merkel forced to abstain in vote on EU top post * SPD coalition partners wouldn't back Merkel ally for job * With eye on future, Merkel soaks up SPD complaints * Scandal-prone von der Leyen must still convince EU lawmakers By Paul Carrel and Gabriela Baczynska BERLIN/BRUSSELS, July 3 (Reuters) - In the twilight of her career, German Chancellor Angela Merkel has chosen to soak up domestic heat from her coalition partners in order to secure a close ally at the top of the European Union who will outlast her. Ursula von der Leyen, the current German defence minister who was tapped by EU leaders on Tuesday as a unity candidate to be European Commission chief, was not Merkel's first choice. But with an eye on her legacy, the conservative chancellor has a like-minded problem solver in place to take the helm of the EU. Oddly, Merkel abstained in a leaders' vote on nominating von der Leyen - a mark of the waning power of Europe's once dominant leader who was prevented from backing her own ally due to opposition from her Social Democrat (SPD) coalition partners. As the EU top jobs package came together after tortuous talks, Merkel broke off the Brussels summit for almost an hour to try to persuade the SPD to allow her to vote in favour of von der Leyen, diplomats said. She was unable to do so. Instead, she left the other EU leaders to endorse von der Leyen to be the first woman to hold the post that sets the EU's policy agenda, putting a close ally at the heart of the bloc - despite red-hot resistance from the SPD. "To my mind, this was an acceptable risk that Merkel knew she was taking," said Mujtaba Rahman, managing director at consultancy Eurasia Group, adding that the risk of her ruling coalition collapsing this year remained constant at 55 percent. Senior Social Democrats, who last year only reluctantly renewed their awkward left-right "grand coalition" with Merkel, were quick to reject the EU jobs package. "Von der Leyen is our weakest minister," tweeted Martin Schulz, a former SPD leader. Sigmar Gabriel, another former SPD leader, described von der Leyen's nomination as an "unprecedented act of political trickery" and suggested the party would have grounds to quit the coalition without cabinet approval for the nomination. The SPD showed no immediate sign of quitting the coalition, and a government spokesman said there was no need for the cabinet to endorse the nomination, which is made by leaders of EU member countries. The SPD suffered its worst showing nationwide since democracy returned after World War Two in a European election on May 26, prompting its leader to quit and throwing the party into a fresh round of soul searching. Many in the SPD want an end to their loveless alliance with Merkel's conservative bloc, which could yet be precipitated by regional elections in three eastern states in the autumn. Polls show the left-leaning party is set to perform poorly. Carsten Nickel, managing director at Teneo, a consultancy, said the SPD's awkward withholding of support for von der Leyen's historic nomination showed the party was in poor shape. "That the Social Democrats forced Germany into this somewhat embarrassing abstention reveals the true extent of the SPD's frailty," he said. FUTURE PROOFING Merkel, who came to power in 2005, has said she will not seek re-election. Instead, she is trying to stage-manage a slow motion exit from politics and has already given up the chair of her Christian Democrats to protege Annegret Kramp-Karrenbauer. The EU jobs deal takes the future proofing a stage further. "Ultimately, Merkel has placed an ally and confidante into the EU's top position while also securing a pragmatist and a safe pair of hands at the ECB," said Rahman at Eurasia. "That's not a bad outcome for Merkel." International Monetary Fund chief Christine Lagarde, with whom Merkel tackled the euro zone crisis, will take over at the European Central Bank. Von der Leyen still needs to be confirmed in her new job by an absolute majority in the European Parliament. On paper, she ought to be able to secure those votes comfortably, but may hit resistance in an assembly aggrieved that EU leaders ignored the lead candidates from the main parliamentary blocs - the "Spitzenkandidaten" - in their horse-trading over top posts. Seeking to soothe those grievances, Merkel spent the first part of her post-summit news conference on Tuesday evening praising the Spitzenkandidaten, especially conservative Manfred Weber who she had initially supported. "I don't think it helped the Spitzenkandidaten that from the outset one of those candidates - and that was Manfred Weber - was presented as unsuitable or unelectable," Merkel said. "That must not happen again." Regardless of those overtures aimed at European lawmakers, Merkel may have trouble convincing Germans von der Leyen is a good pick for Commission president. An RTL/n-tv survey of 1,004 voters on Wednesday by pollster forsa found only 36% backed her. Von der Leyen's patchy cabinet record may also prompt questions in the European Parliament. She has had a scandal-prone run as defence minister, mainly over right-wing extremism in the armed forces, gaps in military readiness, and the awarding of arms contracts. (Writing by Paul Carrel Editing by Mark Heinrich)
Flowhub Launches Cannabis Inventory Management Mobile App Flowhub, a Denver-based inventory management and POS platform for dispensaries, just launched its new Stash App, a first-of-its-kind application for mobile inventory management in cannabis. The Stash App is custom-built to streamline dispensary operations, maximize efficiency, and reduce inventory management cycles. “Manually tracking data from a desktop and spreadsheets increases the chance for human error and discrepancies, and is a major drain on business resources,” the company explained. The Stash App was built to solve this problem, with a modern solution that allows dispensary managers to efficiently audit inventory (for compliance and tracking purposes), transfer inventory (between multiple store locations), and move between rooms to control inventory availability and accuracy. Green Dragon, a cannabis enterprise with 12 locations in Colorado has been using the Stash App with the mobile NUG, and said what used to take them 60 minutes now takes only five minutes. "Some of the world’s leading retailers are adopting mobile solutions to help streamline business operations and provide the best customer experiences," Kyle Sherman, CEO of Flowhub, told Benzinga. "The cannabis industry is no different. Managing inventory is a physical job and it requires your workflow to move just as much as your product.” That’s why the company created the mobile Stash App: to give dispensaries the speed, accuracy, and flexibility required to compliantly track inventory movement with confidence. With Stash, inventory managers reduce the time spent on manual tasks by as much as 90 percent, allowing them to audit in real time, quickly find discrepancies and easily move product between stores to create a seamless process that’s focused on enabling business growth, Sherman assures. Need more cannabis news?Check out all of our coveragehere. Images courtesy of FlowHub. See more from Benzinga • FSD Pharma Closes Prismic Pharma Acquisition: 'A Paradigm Shift In The Overall Outlook Of The Company' • The Week In Cannabis: Illinois Goes Rec, Federal Commerce And Banking Bills, Surterra's 0M Raise And More • ONE Cannabis Appoints Frank Knuettel As CFO © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
International Speedway Corp (ISCA) Q2 2019 Earnings Call Transcript Image source: The Motley Fool. International Speedway Corp(NASDAQ: ISCA)Q2 2019 Earnings CallJul 3, 2019,9:00 a.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Good morning, and welcome to the International Speedway Corporation 2019 Second Quarter Earnings Conference Call. During the presentation all participants will be in a listen-only mode. Afterwards you will be invited to participate in the question-and-answer session. (Operator Instructions) As a reminder this conference is being recorded on Wednesday July 3rd, 2019. With us this morning on the call are John Saunders, President; and Greg Motto; Executive Vice President and Chief Financial Officer. After formal remarks, John Saunders and Greg Motto will conduct a question-and-answer period. I will instruct you on the procedures at that time. Before we start, the Company would like to address forward-looking statements that may be addressed on the call. Forward-looking statements involve risks, uncertainties and assumptions. Actual future performance, outcomes and results may differ materially from those expressed in these forward-looking statements. Please refer to the documents filed by International Speedway Corporation with the SEC specifically the most recent reports on Form 10-K and 10-Q which identify important risk factors which could cause actual results to differ from those contained in these forward-looking statements. So with these formalities out of the way, I will turn the call over to John Saunders. Mr. Saunders? John Saunders--President Good morning, everyone and thanks for joining us today on our second quarter call. As I discussed on previous calls, NASCAR Holdings, Incorporated provided the ISC Board of Directors a non-binding offer to acquire the outstanding shares of ISC not currently owned by the France family stockholders. Our Board formed a special committee of independent directors in connection with the NASCAR proposal. The special committee retained advisors to evaluate proposal. During the quarter as the special committee recommended and the ISC Board of Directors unanimously approved the merger agreement which entitles certain holders of ISC Class A and B shares to receive $45 in cash for each share count. As we announced on May 22nd, 2019 NASCAR and ISC executed a merger agreement. The merger is subject to the approval of at least a majority of the aggregate voting power of all outstanding shares of ISC common stock not held by NASCAR and its affiliates, the France family group and certain officers and directors of ISC. The merger is also conditioned upon the satisfaction or waiver of certain customary closing conditions including among others, the expiration or termination and if any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1986. We expect to file a preliminary proxy with the SEC. A final proxy will be mailed to all shareholders after we receive clearance that the proxy complies with the rules and regulations of the SEC. Please refer to the merger agreement and other SEC filings including our Form 10-K filed on January 25th, 2019, subsequent filings on Form 8-K and our Form 10-Q being filed today for additional information concerning the merger. While the Company has entered into an agreement and plan of merger with NASCAR holdings, there could be no assurance that the merger or any other transaction will occur. We undertake no obligation to update any such information except as required by law. The purpose of this call is to discuss our second quarter results and we will have no further comment concerning the merger on this call. Overall, our second quarter financial results are in line with our 2019 outlook. We report a slight decrease in revenue to approximately $168 million, our non-GAAP earnings were $0.36 per share and we generated an increase in adjusted EBITDA to $52 million. During the quarter, we hosted six NASCAR Cup weekends and Bike Week at Daytona. Admissions revenue for the quarter declined approximate 5%, largely due to not running the IndyCar event this year at ISM Raceway and loss of revenue related to a sponsor bankruptcy. On a positive note, we saw the overall average ticket price of grandstand admissions for NASCAR Cup events increased to approximately $76, up 1.6% driven by ticket sales at the newly renovated ISM Raceway. Greg will provide further details on financial results for the quarter and outlook for 2019. Looking into the third quarter we have hosted two NASCAR Cup weekends at Michigan and Chicagoland. The cup event at Michigan was delayed from Sunday to Monday due to rain. So this will be the first time guests who did not return for the event on Monday will be able to benefit from our weather protection program. As you may recall, this enables the fans with an unused grandstand ticket to exchange it for a future same series event at one of our facilities, subject to certain restrictions. Advance ticket sales for the third quarter are currently trending flat to 2018. Events to be held in the fourth quarter are still early on in the sales cycle. We will provide an outlook for these events on our third quarter earnings call in October. We will continue our consumer-focused sales and marketing strategies providing segmented experiences at a good value. Our objective is to slow and stabilize the recent trends and ultimately position for long-term growth. Our financial position is strengthened by our contracted corporate sales and broadcast agreements that provide long-term visibility. NASCAR is a powerful brand with a loyal fan base that we believe is aware of, appreciates and supports corporate participation to a greater extent than fans of any other sports property. We continue to drive the business forward with corporate partnerships. Nearly half of Fortune 100 companies and 25% of Fortune 500 companies invest in NASCAR. We currently have agreements in place for approximately 91% of our 2019 goal with all of our 2019 Monster Energy NASCAR Cup Series events sold. The new integrated sponsorship model is gaining momentum and partners and prospects are supportive of the new vision. From a broadcast perspective, the Monster Energy NASCAR Cup Series remains strong. Viewership is up an average of 3% for FOX broadcast in the 2019 season, and the Cup Series share of audience is up 6% compared to last year. Further, fans that are tuned into NASCAR broadcasts are tuned in for a longer period of time compared to other sports. NASCAR's digital platforms are showing significant growth in aggregate social engagement, comment rate and YouTube watch time. Through the first 15 races of the 2019 season, race day user session time has increased 11%, consumption rate is up 2% and user return frequency is up 6%. Domestic broadcast rights fees which include digital streaming, continue to provide significant cash flow visibility to us, race teams and NASCAR over the contract term through 2024. We will continue to navigate the evolving media landscape through our long-term partnerships with industry leaders NBC and FOX. Last October, Talladega Superspeedway commenced construction on the redevelopment of the iconic Talladega Infield. The project will immerse fans into the sport of NASCAR with a one-of-a-kind Talladega Garage Experience, featuring unprecedented access, interactive attractions and enhanced amenities for guests. While components of the redevelopment opened the spring, the full project will be completed this year by Talladega's fall event as the track celebrates its 50th anniversary. We believe prudent reinvestment in our facilities will continue to position ISC for long-term growth and deliver shareholder value. Development at ONE DAYTONA continues to gain momentum as tenants complete construction and commence operations. The DAYTONA, the Marriott Autograph Collection hotel opened in April selling out over Memorial Day weekend and heading for more sold out days around the Coke Zero Sugar 400. Construction of the ICON Lifestyle Apartments commenced in 2019, also part of the greater ONE DAYTONA project with certain components available for occupancy as early as fall 2019. We anticipate these components will greatly assist in providing the momentum needed to drive this development to stabilization. Entertainment continues to be a focus for ONE DAYTONA with victory circle fast becoming the development's focal point hosting events from live music, car shows, community festivals as well as providing great opportunities for fans to meet competitors and observe vehicles from motorsports events held at Daytona International Speedway. We anticipate ONE DAYTONA to be a destination for retail, dining and entertainment in the greater Daytona Beach area. ISC maintained strong visibility -- visibility of future cash flow with over half of its revenue secured through the industry's 10-year broadcast agreement and multi-year partnership agreements. We will continue our strategic focus on consumer marketing initiatives to deliver growth through our core business. We will also seek opportunities for increased utilization of our facilities through ancillary events. In addition, investments in qualified developments like the Hollywood Casino and ONE DAYTONA will provide for further growth and shareholder value. I will now turn the call over to Greg to give you the financial review for the second quarter and the outlook for 2019. Greg? Greg Motto--Executive Vice President and Chief Financial Officer Thanks, John and good morning, everyone. Before reviewing the financial results it's important to note several items impacting fiscal year-over-year second quarter comparability. These include termination of sponsorship agreements and sublease agreements with a company that is involved in bankruptcy proceedings resulting in lower admission and sponsorship revenues as well as lower rental expenses. Certain costs related to terminated agreements associated with non-motorsports operations, revenues and expenses related to the purchase of certain assets from Racing Electronics, cost associated with the merger agreement, the IndyCar event at ISM Raceway and country music festival at Daytona both which occurred in the second quarter of 2018 but not in 2019 and certain costs, accelerated depreciation, removal of assets and capitalized interest associated with our capital projects at ONE DAYTONA, ISM and Richmond Raceway in 2018 and Talladega in 2019. All of these are outlined in the earnings news release and are included in the GAAP to non-GAAP reconciliation where appropriate. Now looking at the income statement. Admissions revenue for the second quarter was $24.4 million, a decrease of approximately 5% from 2018. This is primarily related to the IndyCar event at ISM Raceway, lower attendance for certain NASCAR and other events held during the quarter and the previously discussed sponsor bankruptcy. Partially offsetting the decline were increased admissions revenue for the Bike Week events at Daytona and NASCAR events held at the newly renovated ISM Raceway. The decrease in motorsports and other event related revenues to $126.8 million is primarily due to the aforementioned Country 500 music festival and IndyCar events. The sponsor bankruptcy and certain other corporate sales which were partially offset by increased TV broadcast rights revenues. ISC domestic television broadcasts and ancillary revenues were $97.7 million for the quarter. The increase in food, beverage and merchandise revenue to $11.4 million is primarily related to sales associated with the Racing Electronics business, partially offset by the aforementioned Country 500 music festival and IndyCar events. The decrease in other revenues to $5.5 million is primarily related to the receipt of insurance proceeds in 2018 offset by increased rents received from tenants at ONE DAYTONA. NASCAR event management fees increased to $52.3 million. The increase is due to variable costs driven by higher television broadcast rights fees associated with the NASCAR Cup, Xfinity and Truck Series events as well as contracted increases in non-TV NASCAR event management fees. Motorsports and other event related expense decreased to $32 million primarily due to the Country 500 music festival and IndyCar events, and expenses associated with terminated sublease agreements. Also contributing to the decrease were lower event expenses related to certain NASCAR events held during the quarter. Food, beverage and merchandise expense increased to $8.1 million. The increase is related to costs associated with Racing Electronics in 2019 partially offset by the Country 500 music festival in 2018. Food, beverage and merchandise expense as a percentage of associated revenue decreased to approximately 71.4%. Other operating expenses increased to $1.9 million primarily related to operating costs associated with ONE DAYTONA. General and administrative expense increased to $28.9 million. The increase is primarily due to certain employee related costs, property taxes and costs related to the merger agreement. Depreciation and amortization expense increased to $28.8 million for the quarter largely due to assets placed in service related to the completion of projects at ISM and Richmond Raceway as well as ONE DAYTONA, partially offsetting the increase for assets that have been fully depreciated or removed from service in 2019. Losses on asset retirements decreased to 600,000 primarily due to the removal of assets not fully depreciated associated with capital projects including the infield renovation at Talladega. Interest income increased to approximately $1.3 million for the quarter primarily related to higher yield on short-term investments. Interest expense increased to $3.7 million as a result of lower capitalized interest associated with the ISM Raceway ONE DAYTONA projects from the prior year. Equity and net income from equity investments of approximately $6.4 million represents our 50% interest in the Hollywood Casino at Kansas Speedway and to a lesser extent our approximate 34% and 33% equity interests in the Daytona and Fairfield hotels respectively at ONE DAYTONA. This is comparable to $6.4 million in the second quarter of 2018. For the quarter we received cash distributions from the casino totaling $6.5 million. The effective tax rate for the second quarter of fiscal 2019 was 22.9% compared to 22.2% in the second quarter of 2018. And net income for the three months ended May 31st, 2019 was $15.1 million or $0.35 per diluted share on approximately $43.4 million shares outstanding. However when you exclude non-capitalized non-recurring acquisition costs related to the purchase of certain assets from Racing Electronics, onetime non-cash charges related to terminated agreements from non-motorsports operations, cost associated with the merger agreement and certain non-recurring costs and removal of assets in connection with the infield project at Talladega, we posted earnings of $0.36 per diluted share for the second quarter of fiscal 2019 compared to non-GAAP net income for the second quarter of 2018 of $0.37 per diluted share and an increase in adjusted EBITDA to $52.1 million for the second quarter of fiscal 2019 compared to $50.8 million in the second quarter of fiscal 2018. As for the balance sheet and future liquidity, at the quarter-end, our combined cash and cash equivalents totaled $338.7 million and shareholders' equity was $1.7 billion. Our deferred income was $79.4 million down approximately $12.9 million from the same period in the prior year. The decrease in deferred income is primarily due to the change in accounting associated with the new revenue recognition standard which requires netting of certain accounts receivable and deferred income items. At the end of the quarter, total principal outstanding on debt was approximately $256.8 million, which includes $165 million senior notes, $46.3 million TIF bonds associated with the Kansas Speedway and $45.5 million for our term loan on our headquarters office building. We currently have no borrowings drawn on our $300 million revolving credit facility. As it relates to capital spending, for the three months ended May 31st, 2019, we spent approximately $42.6 million including capitalized interest in label. As for capital allocation, our plan remains as previously communicated. We have established a long-term capital allocation plan to ensure we generate sufficient cash flow from operations to fund our working capital needs, capital expenditures at existing facilities, return of capital through payments of an annual cash dividend and repurchase of shares under our stock purchase plan. We operate under a five year capital allocation plan adopted by our Board of Directors covering fiscal years 2017 to 2021. Components of this plan include capital expenditures at existing facilities including the Talladega Infield Project, the ONE DAYTONA development and return of capital to shareholders. For existing facilities, we expect capital expenditures up to $500 million from fiscal 2017 to 2021. These include the projects completed at ISM and Richmond Raceways and the infield renovations under way at Talladega, as well as other maintenance and guest experience capital expenditures for remaining existing facilities. While many of these components of these projects will exceed weighted average cost of capital, considerable maintenance capital expenditures which we estimate to be approximately $40 million to $60 million annually will likely result in a blended return of invested capital in the low to mid-single digits. In addition to the $500 million in capital expenditures for existing facilities we expect approximately $111 million net capital expenditures exclusive of capitalized interest and net of public incentives related to ONE DAYTONA. For fiscal 2019 we expect total capital expenditures associated with our capital allocation plan to range between $90 million and $100 million for existing facilities including the Talladega Infield Projects and remaining capital expenditures related to completion of the projects at ISM, Richmond Raceways and ONE DAYTONA. Return of capital to shareholders through dividends and share repurchases is a significant pillar of our capital allocation. We expect dividends to increase in 2020 and beyond by approximately 4% to 5% annually. We currently have no active rule 10b5-1 plans, therefore we did not purchase any shares of ISCA during the second quarter of fiscal 2019. At May 31st, 2019 we had approximately $138.7 million remaining repurchase authority under the current $530 million stock purchase plan. We have built the capital allocation plan based on conservative estimates that will maintain a strong financial position prudently and disciplined reinvestment in the business and provide stable and growing return to shareholders. And now for our outlook for 2019. In an effort to enhance the comparability and understandability of our forward-looking financial guidance we adjust for certain non-recurring items that will be included in our future GAAP reporting. We believe this adjusted information best represents our expectations for our 2019 core business performance. Please refer to our earnings release for the detailed list of items excluded from our fiscal 2019 non-GAAP guidance. For fiscal 2019 we are reaffirming our outlook within the previously provided guidance range. The high end of our range contemplates stabilization in our attendance and related revenues and securing 100% of our corporate sales goal. While the low end of our range contemplates further erosion in attendance approximately 95% of our corporate sales goal less the uncollectible revenue from a sponsor currently in bankruptcy and net of lower operating expenses as a result of cost containment initiatives. Our full year fiscal 2019 guidance includes total revenues to range between $685 million and $715 million -- $705 million. Adjusted EBITDA will range between $230 million and $250 million, included in adjusted EBITDA is approximately $27 million in pre-tax cash distributions from the Hollywood Casino. Operating margin is estimated between 13.5% and 16%. Our non-GAAP effective tax rate is forecasted at 25% to 26% and non-GAAP earnings of $1.85 to $2.15 per diluted share. In closing, we continue to see areas of success like the increased admissions at our newly renovated ISM Raceway and increased viewership for 2019. Our 2019 financial outlook provides year-over-year growth. We have a defined consumer-focused marketing and sales strategy. We continue to reinvest in new fan experiences that competitively position our facilities against other entertainment options and we maintain a solid financial position developed over many years that affords us the ability to follow our disciplined capital allocation strategy and maintain our leadership position in the motorsports industry. For the future, we are well positioned to balance the strategic capital needs of our business with returning capital to our shareholders. We look forward to speaking with you on our next earnings conference call in October. With that I'll turn it back over to the operator, who will lead us through the Q&A portion of the call. Operator? Operator Thank you. At this time ladies and gentlemen we will open the lines for questions-and-answers. (Operator Instructions) Our first question comes from the line of Jaime Katz of Morningstar. Jaime Katz--Morningstar -- Analyst Hi. Good morning, guys. John Saunders--President Good morning, Jaime. Greg Motto--Executive Vice President and Chief Financial Officer Good morning, Jaime. Jaime Katz--Morningstar -- Analyst John, I have a question on the integrated sponsorship model. You sort of rushed across that pretty quickly. I'm curious if you have any updates on that, that would be helpful for us to understand. John Saunders--President I don't have anything, any updates. Just to refresh what we've talked about previously, the NASCAR's approach going forward is to cheer sponsorships. You know the days of Sprint riding a $75 million check to be a series entitlement, we just don't think that's a good model going forward. But the NASCAR has been in the marketplace. They have what they call premier and signature tiered levels for sponsors. They have a lot of interest at both levels of those tiers. But it would really be their announcement when something is signed. But it does include the integrated sponsorship model, does include assets, not just from NASCAR but assets across race facilities and in some cases race teams. So it's including the broadcaster. So we think it's a much better play going forward and they are gaining momentum in the marketplace. But announcements would really come from NASCAR. Jaime Katz--Morningstar -- Analyst And we would hear more about that over the next six months plus, correct? Is that the right timeline to think about that? John Saunders--President I would think that's the right timeline. Jaime Katz--Morningstar -- Analyst Okay. And then as far as this bank partner that's going through bankruptcy, has that given you guys any pause to really reassess how some of these contracts are structured and your ability to maybe replace some partners if it seems like they may not be able to have the liquidity to service their payments with you? Greg Motto--Executive Vice President and Chief Financial Officer Hey Jaime, this is Greg, I'll answer that situation. We do have a defined risk analysis process that we go through in evaluating our partnerships before executing the agreements. This one situation unfortunately has not just impacted us and impacted many in the industry and many in other industries and to the extent of replacing the position, our sales team. And as John mentioned with the integrated sponsorship model, we always look for opportunities to create a new category, new positions for our partners. Jaime Katz--Morningstar -- Analyst Okay. And then I know you don't want to talk about the buyout. I just want to reiterate what I heard which is that before the vote goes to the outside shareholders, it will go first to FTC or whoever is evaluating antitrust. So there's still some length of time before this transaction theoretically would close. Is that right? Greg Motto--Executive Vice President and Chief Financial Officer Yes. Jaime, the process will be that the Company will prepare a proxy to file with the SEC within 30 days of the -- 30 business days of the merger agreement and then go through a period with the SEC to clear it before a final proxy will be sent out to the shareholders for vote. Jaime Katz--Morningstar -- Analyst Okay. So that's unlikely to probably happen before fiscal year end, given that some of these processes are really slow. Greg Motto--Executive Vice President and Chief Financial Officer Well we gave expected timeline to happen -- the transaction to close within the calendar year of 2019 at the time of the merger, the announcement of the merger agreement on May 22nd. Jaime Katz--Morningstar -- Analyst Okay. Okay, that's helpful. Thank you so much. John Saunders--President You're welcome. Thank you. Greg Motto--Executive Vice President and Chief Financial Officer Thank you, Jaime. Operator (Operator Instructions) Our next question comes from the line of Tim Conder of Wells Fargo. Timothy Conder--Wells Fargo -- Analyst Thank you. And you know just really wanted to hone in on the timeline there a little bit gentlemen. The filing of the proxy requirements with the SEC, I mean is that basically imminent. And then obviously the review process could be compressed or elongated. But just trying to get a little bit more of a timeline here, we appreciate the by the end of the calendar '19 here. But any other color you can give on as far as benchmarks on timeline? Greg Motto--Executive Vice President and Chief Financial Officer Yeah. Tim this is Greg. You know again I think we can kind of work through the data as they're outlined with regards to the process on the merger agreement. 30 business days following the signing of the merger agreement on from May 22nd, so that's coming. Then the SEC has a period of time to go through and comment on that. And that's in the SEC, the regulatory bodies -- and we'll work with the SEC to clear those comments, so that we can complete a final proxy. I don't think we're in a position to provide a definitive timeline that is more comprehensive than that at this time. Timothy Conder--Wells Fargo -- Analyst Okay. Yeah. Okay, that helps. So we're in the period, the balls in their court at this present time and we're waiting to hear back from them. Greg Motto--Executive Vice President and Chief Financial Officer Well, we are preparing a preliminary proxy to be filed with the SEC. Timothy Conder--Wells Fargo -- Analyst Okay, thank you very much. John Saunders--President You're welcome. Greg Motto--Executive Vice President and Chief Financial Officer Thank you. Thanks, Tim. Operator (Operator Instructions) There appears to be no further questions. I'd like to turn the floor back over to management for any additional or closing remarks. John Saunders--President I just -- this is John I just wanted to thank everybody for joining us on today's call and we look forward to talking with you on our third quarter earnings call which will be in October. So have a great day. Thank you. Greg Motto--Executive Vice President and Chief Financial Officer Thank you, all. Have a good day. Operator Thank you. Ladies and gentlemen, this does conclude today's second quarter earnings conference call. You may now disconnect. Duration: 34 minutes John Saunders--President Greg Motto--Executive Vice President and Chief Financial Officer Jaime Katz--Morningstar -- Analyst Timothy Conder--Wells Fargo -- Analyst More ISCA analysis All earnings call transcripts More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see ourTerms and Conditionsfor additional details, including our Obligatory Capitalized Disclaimers of Liability. Motley Fool Transcribershas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Have Insiders Been Selling LogMeIn, Inc. (NASDAQ:LOGM) Shares This Year? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So before you buy or sellLogMeIn, Inc.(NASDAQ:LOGM), you may well want to know whether insiders have been buying or selling. It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, such insiders must disclose their trading activities, and not trade on inside information. We don't think shareholders should simply follow insider transactions. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Harvard Universitystudyfound that 'insider purchases earn abnormal returns of more than 6% per year.' See our latest analysis for LogMeIn Over the last year, we can see that the biggest insider sale was by the Co-Founder & Special Advisor to CEO, Michael Simon, for US$1.9m worth of shares, at about US$82.91 per share. So what is clear is that an insider saw fit to sell at around the current price of US$73.81. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive). We note that in the last year insiders divested 193k shares for a total of US$16m. Insiders in LogMeIn didn't buy any shares in the last year. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! I will like LogMeIn better if I see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying. Over the last three months, we've seen significant insider selling at LogMeIn. In total, Michael Simon dumped US$3.6m worth of shares in that time, and we didn't record any purchases whatsoever. In light of this it's hard to argue that all the insiders think that the shares are a bargain. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. LogMeIn insiders own about US$71m worth of shares. That equates to 1.9% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders. An insider sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. While insiders do own shares, they don't own a heap, and they have been selling. We're in no rush to buy! Of course,the future is what matters most. So if you are interested in LogMeIn, you should check out thisfreereport on analyst forecasts for the company. Of courseLogMeIn may not be the best stock to buy. So you may wish to see thisfreecollection of high quality companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Tesla Hits Record Q2 Deliveries: ETFs Set to Soar Tesla Motors TSLA impressed investors by reporting better-than-expected deliveries for the second quarter. The company manufactured record 87,048 vehicles (72,53 Model 3 and 14,517 Model S and Model X combined) in the period and delivered a record 95,200 (77,550 Model 3 and 17,650 Model S and X) vehicles, up 52% from the first quarter.Strong numbers came on the back of Model 3's availability in the United Kingdom and continued interest from mainland Europe and China. The company has allayed fears over vehicle demand and its cash flow. Additionally, orders placed were more than the deliveries, causing a spurt in the order backlog before heading into the third quarter (read: Tesla Steers Solid Growth Prospects: ETFs to Buy).The robust deliveries and strong demand bode well for the electric car maker to achieve its full-year commitments. Tesla is expected to deliver 360,000-400,000 vehicles in 2019, indicating growth of 45-65% from 2018. It hopes to produce 500,000 vehicles a year globally in the 12-month period ending Jun 30, 2020. The company continues to target a 25% non-GAAP gross margin on Model S, Model X and Model 3 vehicles.Following the data release, shares of TSLA rose as much as 9.1% in after-hours trading. Tesla currently has a Zacks Rank #3 (Hold) and a VGM Score of D. It belongs to the top-ranked Zacks Industry (in the top 41%).ETFs to WatchThe solid trading will also spread to the ETF world, especially having substantial allocation to this luxury carmaker. We have highlighted five funds for investors, who are looking to bet on the renewed Tesla growth story.ARK Industrial Innovation ETF ARKQThis is an actively managed ETF seeking long-term capital appreciation by investing in companies that benefit from the development of new products or services as well as technological improvement and advancements in scientific research related to energy, automation and manufacturing, materials and transportation. This approach results in a basket of 34 stocks with TSLA occupying the second spot with 10.6% share. The product has accumulated $172.4 million in its asset base and charges 75 basis points (bps) in fees per year. It sees a lower volume of about 25,000 shares a day (read: Best & Worst Zones of 1H19 and Their ETFs).ARK Innovation ETF ARKKLike ARKQ, this is also an actively managed fund and follows the same strategy but it provides exposure to genomic companies, industrial innovation companies or Web x.0 companies. In total, the fund holds 38 securities in its basket with Tesla occupying the top position, accounting for 10.5% share. The product has gathered $1.7 billion in its asset base and trades in a good volume of about 354,000 shares. Expense ratio comes in at 0.75%.ARK Web x.0 ETF ARKWThis is an actively managed fund focusing on companies that are expected to benefit from the shift in technology infrastructure to the cloud, enabling mobile, new and local services. The fund holds 37 stocks in its basket with Tesla occupying the top position at 9.3%. The ETF has amassed $446.1 million in its asset base and trades in a good average daily volume of around 114,000 shares. Expense ratio comes in at 0.75%.VanEck Vectors Global Alternative Energy ETF GEXThis ETF tracks the Ardour Global Index Extra Liquid, focusing on global companies that are primarily engaged in the business of alternative energy. The fund holds about 30 stocks in its basket with AUM of $91.5 million while charging 63 bps in fees per year. Average daily volume is paltry at about 4,000 shares. Tesla occupies the fifth position in the basket with 6.3% allocation. In terms of country exposure, the fund is skewed toward the United States with 64% share while Denmark and China round off the top three spots (see: all the Alternative Energy ETFs here).First Trust NASDAQ Clean Edge Green Energy Index Fund QCLNThis fund tracks the Nasdaq Clean Edge Green Energy Index and manages assets worth $107.1 million. It charges 60 bps in fees per year while trading in a light volume of around 13,000 shares per day. In total, the product holds 41 U.S. securities with Tesla Motors taking the fifth spot at 5.6%. It has a Zacks ETF Rank #4 (Sell) with a High risk outlook.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >> Click to get this free reportTesla, Inc. (TSLA) : Free Stock Analysis ReportARK Industrial Innovation ETF (ARKQ): ETF Research ReportsARK Innovation ETF (ARKK): ETF Research ReportsFirst Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN): ETF Research ReportsVanEck Vectors Global Alternative Energy ETF (GEX): ETF Research ReportsARK Web x.0 ETF (ARKW): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Is Unitil Corporation (NYSE:UTL) A Great Dividend Stock? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Today we'll take a closer look at Unitil Corporation (NYSE:UTL) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. While Unitil's 2.5% dividend yield is not the highest, we think its lengthy payment history is quite interesting. Some simple research can reduce the risk of buying Unitil for its dividend - read on to learn more. Click the interactive chart for our full dividend analysis Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Looking at the data, we can see that 50% of Unitil's profits were paid out as dividends in the last 12 months. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. One of the risks is that management reinvests the retained capital poorly instead of paying a higher dividend. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Unfortunately, while Unitil pays a dividend, it also reported negative free cash flow last year. While there may be a good reason for this, it's not ideal from a dividend perspective. As Unitil has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A quick check of its financial situation can be done with two ratios: net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and net interest cover. Net debt to EBITDA measures total debt load relative to company earnings (lower = less debt), while net interest cover measures the ability to pay interest on the debt (higher = greater ability to pay interest costs). Unitil has net debt of 3.88 times its EBITDA, which is getting towards the limit of most investors' comfort zones. Judicious use of debt can enhance shareholder returns, but also adds to the risk if something goes awry. Net interest cover can be calculated by dividing earnings before interest and tax (EBIT) by the company's net interest expense. Interest cover of 2.55 times its interest expense is starting to become a concern for Unitil, and be aware that lenders may place additional restrictions on the company as well. Remember, you can always get a snapshot of Unitil's latest financial position,by checking our visualisation of its financial health. Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. For the purpose of this article, we only scrutinise the last decade of Unitil's dividend payments. During the past ten-year period, the first annual payment was US$1.38 in 2009, compared to US$1.48 last year. Dividend payments have grown at less than 1% a year over this period. Dividends have grown relatively slowly, which is not great, but some investors may value the relative consistency of the dividend. The other half of the dividend investing equation is evaluating whether earnings per share (EPS) are growing. Over the long term, dividends need to grow at or above the rate of inflation, in order to maintain the recipient's purchasing power. It's good to see Unitil has been growing its earnings per share at 14% a year over the past 5 years. A company paying out less than a quarter of its earnings as dividends, and growing earnings at more than 10% per annum, looks to be right in the cusp of its growth phase. At the right price, we might be interested. When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. First, we like Unitil's low dividend payout ratio, although we're a bit concerned that it paid out a substantially higher percentage of its free cash flow. We like that it has been delivering solid improvement in its earnings per share, and relatively consistent dividend payments. Unitil has a number of positive attributes, but it falls slightly short of our (admittedly high) standards. Were there evidence of a strong moat or an attractive valuation, it could still be well worth a look. Earnings growth generally bodes well for the future value of company dividend payments. See if the 3 Unitil analysts we track are forecasting continued growth with ourfreereport on analyst estimates for the company. Looking for more high-yielding dividend ideas? Try ourcurated list of dividend stocks with a yield above 3%. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
German prosecutors intensify Deutsche Bank client investigation: source By John O'Donnell and Tom Sims FRANKFURT (Reuters) - German prosecutors are escalating a money laundering inquiry involving Deutsche Bank <DBKGn.DE>, including planned raids on wealthy former clients, a person with direct knowledge of the matter told Reuters. Frankfurt's state prosecutors will in the coming months search the homes of people who it suspects of using a company formerly owned by Germany's biggest bank for tax evasion and money laundering, the person said. The intensified scrutiny of Deutsche Bank, which has said it has no indication of any misconduct, comes at a delicate time as the Frankfurt-based bank seeks to revamp its struggling business and repair a reputation ravaged by a series of scandals. Deutsche Bank declined to comment on the investigation but referred to earlier comments by a senior official in which he defended its record, saying that it has invested in fighting money laundering and that it is cooperating with investigators. Police searched the homes of eight people in Germany as part of the investigation in May, after a two-day search of Deutsche Bank's headquarters by 170 police and investigators in November. That high-profile raid tainted it for months, hitting its share price as well shaking confidence in the bank among government officials and its customers. During the raid, police obtained the names of 900 clients suspected of using its Regula subsidiary to avoid taxes, the person said. Prosecutors said at the time that they suspected Deutsche Bank had helped clients shift criminal money, identifying more than 300 million euros ($339 million) that had flowed to a British Virgin Islands registered vehicle in 2016. The prosecutors also said they were investigating two members of Deutsche Bank staff. Deutsche Bank executive Karl von Rohr said in February that it had acted to ensure the "tax honesty" of clients, and had no indication of any misconduct by the bank or staff. Regula was highlighted in data leaks including the Panama Papers, which were uncovered by a consortium of journalists. The regional government in the German state of Hesse and German federal police bought this data, which includes almost 290,000 documents relating to 1,500 offshore firms, in 2017. It is now in the hands of Frankfurt public prosecutors. 'FLAGRANT OFFENDER' Although Deutsche Bank sold Regula in early 2018 to a Bermuda-based bank, the evolving investigation puts it under further pressure following years of scrutiny and billions of dollars in fines for schemes, including so-called mirror trades. Deutsche has agreed to pay more than $600 million in fines to the New York and British authorities for that scheme, one of its most recent scandals, that regulators said allowed Russian clients to covertly move money abroad. That prompted lawmakers in the United States to send the bank a questionnaire asking about its money laundering controls. "Deutsche Bank has been a flagrant offender of our money laundering laws," U.S. Democratic Senator Chris Van Hollen told Reuters. "They are in a league of their own. So we want to look at it for that reason." Von Rohr said in a speech that Deutsche Bank had improved controls, tripling staff who fight money laundering and financial crime since 2015 and was maintaining close contact with regulators. U.S. lawmakers have also asked questions about the bank's relationship with Donald Trump, but Deutsche's response has been held up by a legal challenge by the U.S. president, in which he accused House leaders of harassment. In addition, the U.S. lawmakers are also seeking information about Deutsche Bank's links to prominent Russians as well as its money laundering controls, one person with direct knowledge of the matter said. The German bank has also come under pressure in a separate money laundering scandal involving Danske Bank <DANSKE.CO>, prompting European lawmakers to call for it to reappear before the European Parliament over its money laundering controls. Ana Gomes, a Portuguese EU parliamentarian, and Sven Giegold, a German EU lawmaker, said they were disappointed by an earlier appearance in parliament by Deutsche Bank. "They did not answer in a way that would suggest they were reforming," Gomes said. ($1 = 0.8861 euros) (Editing by Alexander Smith)
Is Lincoln National Corporation (NYSE:LNC) Overpaying Its CEO? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In 2007 Dennis Glass was appointed CEO of Lincoln National Corporation (NYSE:LNC). First, this article will compare CEO compensation with compensation at other large companies. Then we'll look at a snap shot of the business growth. Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. This method should give us information to assess how appropriately the company pays the CEO. View our latest analysis for Lincoln National According to our data, Lincoln National Corporation has a market capitalization of US$13b, and pays its CEO total annual compensation worth US$14m. (This figure is for the year to December 2018). While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at US$1.3m. We took a group of companies with market capitalizations over US$8.0b, and calculated the median CEO total compensation to be US$11m. Once you start looking at very large companies, you need to take a broader range, because there simply aren't that many of them. That means Dennis Glass receives fairly typical remuneration for the CEO of a large company. This doesn't tell us a whole lot on its own, but looking at the performance of the actual business will give us useful context. You can see, below, how CEO compensation at Lincoln National has changed over time. Over the last three years Lincoln National Corporation has grown its earnings per share (EPS) by an average of 22% per year (using a line of best fit). It achieved revenue growth of 17% over the last year. This demonstrates that the company has been improving recently. A good result. It's also good to see decent revenue growth in the last year, suggesting the business is healthy and growing. It could be important to checkthis free visual depiction ofwhat analysts expectfor the future. I think that the total shareholder return of 86%, over three years, would leave most Lincoln National Corporation shareholders smiling. As a result, some may believe the CEO should be paid more than is normal for companies of similar size. Remuneration for Dennis Glass is close enough to the median pay for a CEO of a large company . The company is growing earnings per share and total shareholder returns have been pleasing. Although the pay is a normal amount, some shareholders probably consider it fair or modest, given the good performance of the stock. Shareholders may want tocheck for free if Lincoln National insiders are buying or selling shares. If you want to buy a stock that is better than Lincoln National, thisfreelist of high return, low debt companies is a great place to look. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
California Hits Anheuser-Busch With $500,000 Fine For Violating Air Pollution Laws The California Air Resources Board (CARB) levied a $500,000 fine againstAnheuser-Busch Inbev NV(NYSE:BUD) for violating the state's air pollution laws, the agency announced on July 1. The brewing company's California fleet is based in San Diego. Half of the fine will support the state's research on air pollution and the other half will be used for the South L.A. Urban Greening and Community Forestry Project. According to a CARB press release, the St. Louis-based brewer failed to properly self-inspect 19 diesel trucks, as required by the Periodic Smoke Inspection Program (PSIP), to ensure they met state smoke emission standards. In addition, CARB staff discovered that Anheuser-Busch was not in compliance with the state'struck and bus diesel emissions rulebecause it failed to meet required compliance deadlines. As FreightWaves reportedhere,CARB continues to ramp up enforcement of heavy-duty truck diesel emissions regulations. Starting in 2020, non-compliant trucks will not be able to register with the state Department of Motor Vehicles. Anheuser-Busch, whichlast year ordered 800 hydrogen-powered semis from Nikola Motor Co.,agreed to pay the fine and will bring its vehicles into compliance with state standards, according to the release. The company will also require staff members who oversee diesel smoke inspection to attend training classes and provide inspection details to the state for the next two years. Anheuser-Busch did not immediately respond to a FreightWaves request for comment. "California has some of the country's poorest air quality and because of this, our laws are tough to protect public health," said Todd Sax, CARB's enforcement division chief, in the release. "All businesses must do their part to ensure their fleets are fully compliant with California's anti-pollution regulations that are designed to clean our air and protect our children." Image Sourced by Pixabay See more from Benzinga • Class 8 Orders Rise Slightly In June, But Post Worst First Half Of Year Since 2010 • Gemini Shippers Group Joins Blockchain In Transport Alliance • The Pyrotechnic Paradox: Independence Day's Dependence On China © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Does The Adtalem Global Education Inc. (NYSE:ATGE) Share Price Fall With The Market? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Anyone researching Adtalem Global Education Inc. (NYSE:ATGE) might want to consider the historical volatility of the share price. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories. First, we have company specific volatility, which is the price gyrations of an individual stock. Holding at least 8 stocks can reduce this kind of risk across a portfolio. The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. Some stocks are more sensitive to general market forces than others. Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). However, Warren Buffett said 'volatility is far from synonymous with risk' in his 2014 letter to investors. So, while useful, beta is not the only metric to consider. To use beta as an investor, you must first understand that the overall market has a beta of one. A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price. View our latest analysis for Adtalem Global Education As it happens, Adtalem Global Education has a five year beta of 0.94. This is fairly close to 1, so the stock has historically shown a somewhat similar level of volatility as the market. Using history as a guide, we might surmise that the share price is likely to be influenced by market voltility going forward but it probably won't be particularly sensitive to it. Share price volatility is well worth considering, but most long term investors consider the history of revenue and earnings growth to be more important. Take a look at how Adtalem Global Education fares in that regard, below. With a market capitalisation of US$2.5b, Adtalem Global Education is a pretty big company, even by global standards. It is quite likely well known to very many investors. It's not overly surprising to see large companies with beta values reasonably close to the market average. After all, large companies make up a higher weighting of the index than do small companies. Adtalem Global Education has a beta value quite close to that of the overall market. That doesn't tell us much on its own, so it is probably worth considering whether the company is growing, if you're looking for stocks that will go up more than the overall market. In order to fully understand whether ATGE is a good investment for you, we also need to consider important company-specific fundamentals such as Adtalem Global Education’s financial health and performance track record. I highly recommend you dive deeper by considering the following: 1. Future Outlook: What are well-informed industry analysts predicting for ATGE’s future growth? Take a look at ourfree research report of analyst consensusfor ATGE’s outlook. 2. Past Track Record: Has ATGE been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of ATGE's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how ATGE measures up against other companies on valuation. You could start with thisfree list of prospective options. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Have Insiders Been Buying LKQ Corporation (NASDAQ:LKQ) Shares This Year? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So we'll take a look at whether insiders have been buying or selling shares inLKQ Corporation(NASDAQ:LKQ). It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, rules govern insider transactions, and certain disclosures are required. We don't think shareholders should simply follow insider transactions. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Columbia Universitystudyfound that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'. View our latest analysis for LKQ President Dominick Zarcone made the biggest insider purchase in the last 12 months. That single transaction was for US$53k worth of shares at a price of US$26.55 each. That implies that an insider found the current price of US$26.55 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices. Over the last year, we can see that insiders have bought 3000 shares worth US$80k. In the last twelve months LKQ insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at thisfreelist of companies. (Hint: insiders have been buying them). Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. LKQ insiders own about US$73m worth of shares. That equates to 0.9% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders. There haven't been any insider transactions in the last three months -- that doesn't mean much. On a brighter note, the transactions over the last year are encouraging. Insiders do have a stake in LKQ and their transactions don't cause us concern. Therefore, you should should definitely take a look at thisFREEreport showing analyst forecasts for LKQ. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, that have HIGH return on equity and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Air Cargo Industry Recap Shows Widespread Softness, But Mild Confidence Too On Friday, June 28, the International Air Transport Association (IATA) published its quarterly Cargo Chartbook for the second quarter. The Chartbook is a broader and deeper analysis of market developments and drivers for what's happened in air cargo for the period. Overall, industry-wide freight-ton-kilometers (FTKs) were down 3.3 percent year-over-year, but what stood out is how widespread the softening of industry traffic is globally. Intra-Asia lanes have seen the greatest negative impact, down 12.6 percent, with other major lanes such as North America-Asia down 5.3 percent, Asia-Europe off 3.4 percent and Europe-North America falling 2.5 percent. Cargo yields are off almost 6 percent compared with 2018, though IATA notes its survey of industry leaders indicates an expected improvement later in the year. IATA's tracking of overall international trade overall shows softening, but with air cargo volumes declining at a faster rate. This is the second straight quarter of a year-over-year seasonally adjusted slump in FTKs, which has not occurred since 2015 and is comparable in weakness to what the industry experienced in 2011. In response, airlines have cut capacity, as expressed in available freight-ton-kilometers (AFTKs). Capacity growth now is showing up at 3 percent, or half the previous rate. In Asia, AFTK growth is even less, at just 0.9 percent for the year. Freighter load factors have seen sharp fall-offs in the last few months. Asian airports are especially feeling it, with throughput at Tokyo down 14.4 percent, Singapore off 12.8 percent, Shanghai down 10.2 percent and Hong Kong off 7.3 percent. Tariffs and trade tensions, combined with reduced business confidence about slowing global economic growth, are major drivers. Interestingly, IATA's statistical analysis of PMI new export orders indicators, while slowing since mid-2018, still suggest slightly positive growth in third quarter industry traffic. IATA also notes its April 2019 Business Confidence Survey of Airline Heads of Cargo indicated an uptick in optimism for improved volumes and yields before year end. Overall, IATA's forecast for FTK traffic is flat for the year with no growth over 2018. Validating the IATA observations are recent U.S. airline carrier reports through the Airlines for America (A4A) showing an overall industry decline in volumes through May, particularly for most passenger airlines. FedEx and UPS have managed to keep ton-mile volumes slightly ahead of last year, whereas American, Hawaiian, Southwest and United have seen drops of 12.2 percent, 14.2 percent, 1.5 percent and 1.7 percent year-to-date respectively. Delta Air Lines, which does not report through the A4A, is off 8.0 percent for the year through June 2019. Only Alaska Air is up 10.6 percent, due primarily to its merger with Virgin America, which did not carry cargo previously. FreightWaves SONAR displays the multi-carrier five-year growth trend through May below, showing the relatively faster growth for FedEx and UPS. SONAR Air Cargo Volume Trends for FedEx, UPS, American, United, Southwest, Hawaiian and Alaska Airlines Traffic and yield declines of the levels noted by IATA mean a double-digit revenue impact for airlines. While concerns about the possibility of a recession on the passenger side of the business exist, passenger capacity continues to do reasonably well in this environment, which helps keep more belly capacity than is perhaps needed for cargo in the schedule. But expect more tightening such as continued freighter capacity cuts as the industry rightsizes itself by reallocating aircraft away towards better-performing markets to stabilize load factors and yields. On a positive note, airlines will push faster on e-commerce, product improvements, digitalization and other customer service initiatives to diversify their offerings to air cargo buyers and improve yields. Image Sourced by Pixabay See more from Benzinga • Ecommerce Causes Last-Mile Networks To Creep Closer To Consumers • California Hits Anheuser-Busch With 0,000 Fine For Violating Air Pollution Laws • Class 8 Orders Rise Slightly In June, But Post Worst First Half Of Year Since 2010 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
What Does Univest Financial Corporation's (NASDAQ:UVSP) P/E Ratio Tell You? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). We'll show how you can use Univest Financial Corporation's (NASDAQ:UVSP) P/E ratio to inform your assessment of the investment opportunity.Univest Financial has a P/E ratio of 14.2, based on the last twelve months. That means that at current prices, buyers pay $14.2 for every $1 in trailing yearly profits. Check out our latest analysis for Univest Financial Theformula for P/Eis: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Univest Financial: P/E of 14.2 = $26.01 ÷ $1.83 (Based on the year to March 2019.) A higher P/E ratio implies that investors paya higher pricefor the earning power of the business. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future. Generally speaking the rate of earnings growth has a profound impact on a company's P/E multiple. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. That means unless the share price increases, the P/E will reduce in a few years. A lower P/E should indicate the stock is cheap relative to others -- and that may attract buyers. Univest Financial saw earnings per share improve by -9.5% last year. And its annual EPS growth rate over 5 years is 7.0%. We can get an indication of market expectations by looking at the P/E ratio. You can see in the image below that the average P/E (12.9) for companies in the banks industry is lower than Univest Financial's P/E. That means that the market expects Univest Financial will outperform other companies in its industry. The market is optimistic about the future, but that doesn't guarantee future growth. So further research is always essential. I often monitordirector buying and selling. The 'Price' in P/E reflects the market capitalization of the company. Thus, the metric does not reflect cash or debt held by the company. Theoretically, a business can improve its earnings (and produce a lower P/E in the future) by investing in growth. That means taking on debt (or spending its cash). Spending on growth might be good or bad a few years later, but the point is that the P/E ratio does not account for the option (or lack thereof). Univest Financial has net debt equal to 32% of its market cap. You'd want to be aware of this fact, but it doesn't bother us. Univest Financial has a P/E of 14.2. That's below the average in the US market, which is 18.2. The company hasn't stretched its balance sheet, and earnings are improving. The P/E ratio implies the market is cautious about longer term prospects. When the market is wrong about a stock, it gives savvy investors an opportunity. As value investor Benjamin Graham famously said, 'In the short run, the market is a voting machine but in the long run, it is a weighing machine.' So thisfreereport on the analyst consensus forecastscould help you make amaster moveon this stock. You might be able to find a better buy than Univest Financial. If you want a selection of possible winners, check out thisfreelist of interesting companies that trade on a P/E below 20 (but have proven they can grow earnings). We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
'Lord of the Rings' Amazon Series Taps 'Jurassic Park: Fallen Kingdom' Director Click here to read the full article. Amazon’s Lord of the Rings series is another, big step closer to reality, with the hiring of J.A. Bayona to direct the first two episodes. In addition to helming the first two episodes of Penny Dreadful , Bayona’s credits include Jurassic World: Fallen Kingdom and the Guillermo del Toro-produced The Orphanage (which a friend keeps telling me is one of the scariest films. I’m getting there). Related stories Rosamund Pike to Star in Amazon's Wheel of Time Series Adaptation Sneaky Pete Cancelled at Amazon Carnival Row Starring Orlando Bloom and Cara Delevingne Gets Amazon Premiere Date and Fantastical Trailer Screenwriters JD Payne and Patrick McKay, who penned the upcoming fourth entry in J.J. Abrams’ rebooted Star Trek franchise, are developing the epic saga TV series, which will explore new storylines preceding novelist J.R.R. Tolkien’s The Fellowship of the Ring . “J.R.R. Tolkien created one of the most extraordinary and inspiring stories of all time, and as a lifelong fan it is an honor and a joy to join this amazing team,” Bayona, who will also get an executive producer credit, said in a statement to Deadline . “I can’t wait to take audiences around the world to Middle-earth and have them discover the wonders of the Second Age, with a never before seen story.” Amazon’s LOTR series, first announced back in November 2017 with a multi-season series order (and the potential for spinoffs), has been largely shrouded in secrecy; no casting details, episode count or premiere date have yet been revealed. Sir Ian McKellen, though, has hinted that he may reprise his role as wizard Gandalf — which he played in Peter Jackson’s blockbuster Lord of the Rings and Hobbit movies — for the Amazon series. Sign up for TVLine's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Volkswagen reveals electric concept car modeled after 1962 bus The company unveiled the concept car at IECC. The vehicle is all-electric and was converted from a 57-year-old Type 2 van.Read morehere.Read more... More aboutTech,Cars,Transportation,Mashable Video, andVolkswagen
Big Deal In The Food And Beverage Distribution Game Two large private carriers are set to combine, asPerformance Food Group(PFG) (NYSE:PFGC) announced that it hasentered into an agreementto acquire Reinhart Foodservice, LLC in a $2 billion deal ($1.7 billion excluding a $265 million tax benefit). Richmond, Virginia-based PFG is a foodservice distribution company with a national network of more than 80 distribution centers and almost 18,000 employees. Rosemont, Illinois-based Reinhart, a top-five foodservice distributor with 26 distribution centers and 5,600 employees, is being acquired from Reyes Holdings, LLC, a holding company of five different beverage and foodservice providers. Reyes Holdings was fourth on theTransport TopicsTop 100 Private Carriers list in 2018 with 5,443 tractors, 804 trucks, 1,250 pickups/cargo vans and 6,659 trailers. It trailed onlyPepsiCo, Inc(NASDAQ:PEP),Sysco(NYSE:SYY) andWalmart Inc(NYSE:WMT). PFG was tenth on the same list with 2,835 tractors, 214 trucks and 3,810 trailers. PFG believes that the deal will result in approximately $30 billion in annual net sales. (Reinhart has net sales in excess of $6 billion annually.) "We are excited to announce the strategic acquisition of Reinhart and welcome them to Performance Food Group. I've known the Reyes family for nearly two decades, and they have built and grown an incredible company. We believe the addition of Reinhart and its complementary strengths will expand Performance Foodservice's broadline presence, improve our network efficiency and help us achieve our long-term growth goals," said PFG's Chairman, President and Chief Executive Officer George Holm. "We are excited to partner with PFG and believe this acquisition provides meaningful benefits to our customers and expanded opportunities for our employees. PFG has a solid track record of growth and leadership in our industry. We believe our strengths and the strong cultural connection our companies share will support continued success for many years to come," said Reyes Holdings Co-Chairman Christopher Reyes. PFG expects adjusted earnings per share to increase in the single-digit range in year one with double-digit earnings accretion being seen in year three. The company also expects to realize approximately $50 million in annual cost synergies in three years. The deal price assumes a 10.6x multiple of Reinhart's 2018 estimated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) excluding the $265 million tax benefit, and an 8.1x EBITDA multiple after accounting for the $50 million in expected cost synergies. PFG plans to finance the purchase by employing its asset-based revolver, new unsecured notes and equity proceeds. The company believes it can achieve a net debt-to-adjusted EBITDA ratio below 4x within 24 months of closing. PFG fielded several questions on its acquisition conference call regarding the required investment to catch Reinhart up to speed on its technology and tractor fleet age. Management acknowledged it plans on a one-time capital expenditure of $90 million to address information technology integration and updates over the next five years. Further, Reinhart's ongoing capital expenditure needs of roughly $50 million annually will address refreshing its fleet, which is older than that of PFG's. The transaction is not subject to shareholder approval. The deal is subject to antitrust clearance and customary closing conditions and is expected to close by the end of 2019. Sysco's attempt to acquire US Foods wassuccessfully haltedby the Federal Trade Commission in 2015. That said, this deal is much smaller than the size of that transaction which would have combined the two largest food distribution companies in the U.S. Although PFG was not a large player in that transaction, it did receive a $12.5 million breakup fee as the blocked deal kept it from acquiring 11 of US Foods' distribution centers. PFG also modestly updated its fiscal 2019 outlook. The company expects adjusted EBITDA to increase in the 9 to 10 percent range year-over-year, up from the prior expectation of 8 to 10 percent growth. PFGC Stock Chart – Seeking Alpha Image Sourced From Pixabay See more from Benzinga • Air Cargo Industry Recap Shows Widespread Softness, But Mild Confidence Too • Ecommerce Causes Last-Mile Networks To Creep Closer To Consumers • California Hits Anheuser-Busch With 0,000 Fine For Violating Air Pollution Laws © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
T-Mobile on Cusp of Justice Department Approval for Sprint (Bloomberg) -- T-Mobile U.S. Inc. is on the cusp of securing U.S. Justice Department approval for its $26.5 billion merger with Sprint Corp., after establishing the general outlines of asset sales to Dish Network Corp., according to people familiar with the matter. The Justice Department is hammering out final issues with T-Mobile on an agreement aimed at ensuring Dish can become a strong fourth competitor in the U.S. wireless market, said the people, who asked to not be identified because the matter isn’t public. While the sticking points aren’t insurmountable, the Justice Department has yet to bless the arrangement to allow Sprint’s acquisition to proceed. T-Mobile is trying to offer just enough concessions to gain approval but not so many that it creates a formidable rival while the Justice Department is aiming to maximize competition, the people said. Sprint and Dish shares both jumped on Bloomberg’s report. Sprint was up 1.7% to $7 at 12:35 p.m. in New York, while Dish climbed 2.3% to $40.07. T-Mobile climbed less than 1% to $75.94. T-Mobile and Sprint have agreed to sell to Dish some airwaves and Sprint’s pay-as-you-go brands, including Boost, Virgin Mobile and Sprint Prepaid, the people said. Dish would also get a six-to-seven-year wholesale agreement allowing it to sell T-Mobile wireless service under the Dish brand. The package would also include a three-year service agreement from T-Mobile to provide operational support as prepaid customers shift to Dish, according to one of the people. The companies are expected to hash out the unresolved issues around network sharing within a few days, setting them up for a possible decision from the Justice Department as early as next week, they said. CNBC first reported the details of the wholesale agreement as well as potential timing of the Justice Department’s decision. Representatives for T-Mobile, its parent company, Deutsche Telekom AG and the Justice Department declined to comment. A representative for Sprint didn’t have an immediate response to a request for comment. T-Mobile agreed to buy Sprint in April 2018, pitching the transaction as a way to advance the introduction of the next generation of wireless technology known as 5G, a priority of President Donald Trump. Regulatory Concerns The companies have already won the support of the Federal Communications Commission, in part by promising to deploy a 5G network that would cover 99% of the U.S. population within six years. They still have to win over Justice Department antitrust chief Makan Delrahim, who wants the No. 3 and No. 4 wireless carriers to shed enough assets to lay the groundwork for a new fourth competitor. Approval from the Justice Department could give the carriers a boost as they contend with a lawsuit filed by a group of state attorneys general who say the deal should be blocked because it will hinder competition and raise prices. Ergen’s Ambitions The concessions would be a boon for Charlie Ergen, the billionaire chairman of Dish. Long aware of the inevitable decline of satellite television, he has spent billions of dollars in government auctions to amass wireless airwaves. Gaining a wireless business and some airwaves would bring him closer to building a state-of-the-art network that can send video and other content without the need for cable or a satellite antenna. (Updates with trading in fourth paragraph.) --With assistance from William Wilkes. To contact the reporters on this story: Nabila Ahmed in New York at [email protected];David McLaughlin in Washington at [email protected];Scott Moritz in New York at [email protected] To contact the editors responsible for this story: Nick Turner at [email protected], ;Liana Baker at [email protected], Matthew Monks, Sara Forden For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
Is Now The Time To Put Align Technology (NASDAQ:ALGN) On Your Watchlist? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story stocks' without revenue, let alone profit. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses. So if you're like me, you might be more interested in profitable, growing companies, likeAlign Technology(NASDAQ:ALGN). Now, I'm not saying that the stock is necessarily undervalued today; but I can't shake an appreciation for the profitability of the business itself. In comparison, loss making companies act like a sponge for capital - but unlike such a sponge they do not always produce something when squeezed. View our latest analysis for Align Technology As one of my mentors once told me, share price follows earnings per share (EPS). Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. It certainly is nice to see that Align Technology has managed to grow EPS by 36% per year over three years. This has no doubt fuelled the optimism that sees the stock trading on a high multiple of earnings. I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). Align Technology maintained stable EBIT margins over the last year, all while growing revenue 30% to US$2.1b. That's a real positive. The chart below shows how the company's bottom and top lines have progressed over time. Click on the chart to see the exact numbers. Fortunately, we've got access to analyst forecasts of Align Technology'sfutureprofits. You can do your own forecasts without looking, or you cantake a peek at what the professionals are predicting. We would not expect to see insiders owning a large percentage of a US$22b company like Align Technology. But we are reassured by the fact they have invested in the company. Indeed, they have a glittering mountain of wealth invested in it, currently valued at US$1.5b. I would find that kind of skin in the game quite encouraging, if I owned shares, since it would ensure that the leaders of the company would also experience my success, or failure, with the stock. Given my belief that share price follows earnings per share you can easily imagine how I feel about Align Technology's strong EPS growth. I think that EPS growth is something to boast of, and it doesn't surprise me that insiders are holding on to a considerable chunk of shares. Fast growth and confident insiders should be enough to warrant further research. So the answer is that I do think this is a good stock to follow along with. If you think Align Technology might suit your style as an investor, you could go straight to its annual report, or you could first checkour discounted cash flow (DCF) valuation for the company. You can invest in any company you want. But if you prefer to focus on stocks that have demonstrated insider buying, here isa list of companies with insider buying in the last three months. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Oklahoma To Fine Freight Railroads For Blocking Rail Crossings Blocking railroad crossings in Oklahoma now could come at a financial cost for freight railroads. Oklahoma has enacted a statute that allows the state to fine a stalled freight train up to $1,000 for blocking a railroad crossing for more than 10 minutes. The statute, which became effective on July 1, allows law enforcement agencies to fine a railroad company if its train is blocking vehicle traffic and the train is not moving continuously forward or backward. An exception is allowed if a train is not moving because of an emergency such as a derailment, mechanical failure, track or bridge washout or adverse weather conditions. Oklahoma Governor Kevin Stitt(R) signed thestatuteinto law on May 24. Lori A. Kromer Peterson, executive director of the Oklahoma Railroad Association, said her group is working with local communities even though it was disappointed by the statute's passage. The association represents and advocates for railroads operating within the state. In a statement, Peterson said, "Oklahoma railroad operators are committed to working with communities to solve blocked crossing issues on a case-by-case basis by reviewing operating procedures, train speed, customer needs and other factors associated with safe and efficient rail service. The safety of our employees and the public is paramount as we fulfill our mission to support the economy of Oklahoma and the nation. It is unfortunate that Oklahoma lawmakers have chosen to enact a policy that does not promote collaborative solutions." States and localities have argued that the blocked crossings could pose a hindrance for emergency responders. The practice of running longer trains has also exacerbated the problem of blocked crossings, government officialshave argued. Lawmakers and regulators at the federal level have started to pay closer attention to blocked crossings, with the Federal Railroad Administration (FRA) currently seeking public comments through August on how it should proceed with data collection on blocked crossings. The FRA said its Office of Railroad Safety has received 669 email complaints about blocked crossings over a two-year period spanning April 1, 2017 to March 31, 2019. The FRA also lists the different regulations and state laws governing highway rail grade crossings, including blocked crossings. Most of the states that have restrictions on the time a highway-rail grade crossing can be blocked generally limit those blockages to 20 minutes, the FRA said. There are 24 railroads operating in Oklahoma, and there are more than 4,100 public, at-grade crossings in the state, according to the transportation division of the Oklahoma Corporation Commission, a state regulatory agency. The commission provided guidelines for law enforcement on how to enforce the statute. Image Sourced by Pixabay See more from Benzinga • Big Deal In The Food And Beverage Distribution Game • Air Cargo Industry Recap Shows Widespread Softness, But Mild Confidence Too • Ecommerce Causes Last-Mile Networks To Creep Closer To Consumers © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
What If Chevy Made a Corvette SUV to Compete with the Porsche Cayenne? What If Chevy Made a Corvette SUV? Alexander Stoklosa - Car and Driver In an interview with Automotive News , Bob Lutz gave his idea for a Corvette SUV , which is what he would produce if he were still at General Motors. Lutz, who was formerly vice chairman of General Motors, says it would need to be "the stellar premium sport-utility made in the United States." We thought it was a great idea, so we took a stab at imagining a Corvette SUV for ourselves. In a recent interview with Automotive News , iconoclastic auto-industry figure and former General Motors vice chairman Bob Lutz was asked about a number of topics, including Carlos Ghosn, Fiat Chrysler's desire for a merger , and the Trump administration. But the most intriguing tidbit came when Lutz was asked about the mid-engined C8 Corvette and brought up what he would do with the Corvette brand if he still worked at General Motors. "[If I were still at GM], what I would do is develop a dedicated architecture, super lightweight, super powerful, Porsche Cayennelike, only much better and a little bigger, medium-volume Corvette SUV. Target worldwide 20,000 to 30,000 units, and price it starting at $100,000. Gorgeous interior. No V-6 powertrain. No low-end version. It has to be the stellar premium sport-utility made in the United States, and the Corvette brand could pull that off." Now, we don't have any reason to think that a Corvette SUV is something that Chevy is even considering, and neither does Bob Lutz, seemingly. But what he said got us thinking: What if Chevy actually did make a Corvette SUV? It's not such a preposterous idea even if there's no basis for it, and we also think it's a no-brainer for Chevy to expand the Corvette brand beyond just the titular model. Porsche was a pioneer of the super-sporty SUV with the Cayenne , and since that model's inception, tons of high-end manufacturers have all gotten into the fast-SUV game, tying in the models with their existing sports cars. But Chevy, which has a history of both iconic SUVs and iconic sports cars, has never even shown a concept imagining what a sporty SUV from the bow-tie brand could look like. So we took a shot at imagining it ourselves. Story continues While we do like Lutz's idea of an expensive Corvette SUV with no low-end version, we think it's a bit unrealistic. To better compete with the Cayenne, an entry-level Corvette SUV should have a starting price point of around $70,000 and a twin-turbo V-6. But it would need at least a couple different V-8 engine options, and there would have to be high-performance variants. Chevy could easily position a Corvette SUV as the sportiest and most road-oriented of all the high-end SUVs, which would set it apart from the competition. It would probably need to ride on its own unique platform, as GM doesn't really have anything that would be a perfect match. The Alpha platform that underpins the Camaro or the Omega platform that underpins the Cadillac CT6 could be possibilities, but neither are really fit for something that would be as sporty and crossover-like as a Corvette SUV would be. Unless Chevy would just say "screw it," not offer all-wheel drive or any semblance of off-road ability, and build the SUV off the current front-engined C7 Corvette 's platform. The styling should be aggressive and tie into the regular Corvette, which would likely mean a coupe-like roofline and a low stance. The interior would need to be luxurious, as buyers in this space expect more from their cars than the middling materials and finishes of the current Corvette. Seating for four adults and at least a modicum of cargo space are a mustCorvette owners need to be able to carry golf clubs around, after allbut it probably wouldn't have a targa top like the regular Corvette. The only thing left for us to imagine is the name. Would it be Corvette Activ? Corvette Xtreme? Corvette TourX? Corvette Bison? Corvette Trail Boss? Corvette High Country? Corvette Z71? Corvette Trans Sport? GM has so many good off-road-y names to choose from. And hey, there's precedent for us thinking this is a good idea. In 1976, we drove a C3 Corvette to Alaska , and then we re-created the journey in 2007 with a C6 . Just imagine how much easier that would be with a Corvette SUV! You Might Also Like Car and Drivers 10 Best Cars through the Decades How to Buy or Lease a New Car Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang!
Poll: Biden’s Support among Black Voters Drops after First Debate Joe Biden, who continues to lead in early polling of the 2020 Democratic presidential race, appears to be hemorrhaging support among African-American voters after last week’s first presidential-primary debate, in which he was taken to task for his controversial remarks about segregationist senators and past opposition to busing. Black voters’ support for Biden, 76, fell from 40 percent to 20 percent after the debate, according to a new Reuters/Ipsos poll . Senator Kamala Harris made headlines during the debate when she personally dressed down the former vice president, attacking his record on race. “I will direct this at Vice President Biden,” began the California senator, who is Jamaican and Indian. “I do not believe you are a racist and I agree with you when you commit yourself to the importance of finding common ground, but . . . it’s personal and it was hurtful to hear you talk about the reputations of two United States senators who built their reputations and careers on the segregation of race in this country.” “It was not only that, but you also worked with them to oppose busing,” Harris continued. “There was a little girl in California who was part of the second class to integrate her public schools and she was bused to school every day. That little girl was me.” Biden made the remarks Harris was referring to last month, at a fundraiser in New York City, where he reminisced about bygone days when politics was characterized by a higher level of civility, citing his ability to get along with two segregationist senators despite their differences as an example. “At least there was some civility. We got things done. We didn’t agree on much of anything,” Biden said. “But today you look at the other side and you’re the enemy. Not the opposition, the enemy. We don’t talk to each other anymore.” Harris meanwhile received the biggest spike in support of any Democratic presidential candidate after the debate, gaining four percentage points to hit 10 percent, which puts her fourth behind Biden, Senator Bernie Sanders, and Senator Elizabeth Warren, according to the Reuters/Ipsos poll. More from National Review Trump Lashes Out after Firefighters’ Union Endorses Biden Biden: Democrats ‘Better Run Scared’ in Midterm Races Poll: Biden Leads Trump by Four Points in Texas
The Return Of Geopolitical Risk The trade relationship between the United States and China – the world's two largest economies – is breaking down. Iran is threatening the Strait of Hormuz, through which 40 percent of the world's oil flows. Weak states in Latin America and the Middle East are failing their citizens, driving migration and ratcheting up tension at borders. Geopolitical risk is back, and companies with global supply chains are forced to consider the impact that economic, ideological and military conflict between states may have on their operations. Now more than ever, it is vital for organizations to leverage technology to map out their supply chains, understand their exposure and pivot away from risk and toward new opportunities. BlackRock's global index for geopolitical risk is at a 15-year high on U.S.-China competition, Persian Gulf tensions, European fragmentation and South Asia tensions. (Chart: BlackRock) "We see geopolitical risk as a material market factor in 2019, especially in an environment of slowing growth and elevated uncertainty about the economic and corporate earnings outlook," BlackRock wrote in its June report. "At the center of the geopolitical debate? Increasing rivalry between the U.S. and China across economic, ideological and military dimensions." FedEx Corporation(NYSE:FDX) is one company that's been caught up in the flux of geopolitics and new competitors. Last week, the parcel carrier sued the U.S. Department of Commerce over fines it had incurred from shipments to Chinese technology firm Huawei. The U.S. government's export control regulations ban American companies from selling certain kinds of technology to Huawei, but the rules are confusing and increasing FedEx's costs of compliance. In a separate issue, FedEx announced that its Express unit – which includes air cargo and next-day shipping and accounts for about 45 percent of FedEx revenue – would stop doing business withAmazon.com, Inc.(NASDAQ:AMZN). In a reversal, on July 1 President Trump abruptly lifted the ban on U.S. companies selling to Huawei – for now. The Transpacific trade lane connecting Asia to the Americas is being reshaped by the United States-China trade dispute and the free trade agreement signed between Asia Pacific countries and Mexico and Canada (the United States declined to join the Trans-Pacific Partnership). Chinese exports to the U.S. are falling off a cliff, while exports from Vietnam, South Korea and Taiwan are experiencing accelerating growth. Supply chain participants exposed to that conflict and others – President Trump has threatened tariffs at various times against the European Union, Canada, Mexico and even Vietnam most recently – have decisions to make about how to react. PricewaterhouseCoopers surveyed organizations that reported being "extremely concerned" about trade conflicts, and found that 40 percent were adjusting supply chain and sourcing strategies, 25 percent were shifting growth strategies to alternative territories and 22 percent were delaying capital expenditures. (Chart: PricewaterhouseCoopers) Just as significantly, one-third of the companies surveyed said they were making no changes to operating models or growth strategies despite being "extremely concerned." While reasons for the lack of response were not provided, it's reasonable to infer that companies either don't have sufficient intelligence into likely trade dispute outcomes, do not fully understand the current risks to their business, or lack the data to decide on an appropriate course of action going forward. For many companies, harnessing their available, but disparate data, is now more critical than ever. This is where a product offered by Slync comes into play. Slync's platform, which serves as an integration layer between a company's internal business functions as well as its supply chain partners, empowers companies to make intelligent, data-driven decisions. Companies can easily calculate costs, transit times and service performance across their supply chains. Instant sharing of relevant data with partners and automated workflow management allows companies to respond to emerging challenges faster than ever. "Having an integrated view and robust analysis of your network is crucial to making the right adjustments in the face of uncertainty, including geopolitical risk and commercial challenges," said Chris Kirchner, chief executive officer of Slync. "Slync's platform gives companies the tools they need to optimize their supply chains to protect value and partnerships while seizing new opportunities." Whether a company is shifting its operations, procurement strategy or production facilities in response to geopolitical risk, or whether the company is standing still and letting the world change around it – nothing stays the same. Nothing stays the same, and changes cause cascading effects through complex systems, producing unpredictable results. Ultimately, in order to navigate geopolitical risk successfully, supply chain companies must leverage technology to orchestrate people, systems, information, processes and capital in an efficient rapid-response. Just because geopolitical risk – a trade negotiation gone wrong or a cyber-security threat that shuts down a port – keeps you up at night does not mean that your customers should have to worry about it or even be aware of it. Slync's integration layer helps companies flex and optimize their supply chains in terms of carried inventory levels, lead times for shipments, availability of suppliers and transportation capacity in new markets and lanes. With Slync, agile, intelligent supply chains can pivot in real time to changing external conditions, balancing cost, service and sales opportunities. "The pace of global change is faster and more unpredictable than ever," Kirchner said. "Slync's technology helps our customers understand their exposure, their options and empowers them to execute decisions without missing a beat." Image Sourced by Pixabay See more from Benzinga • FAA To Streamline Fire Regulations For Cargo Compartments • Oklahoma To Fine Freight Railroads For Blocking Rail Crossings • Big Deal In The Food And Beverage Distribution Game © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Does The Acerus Pharmaceuticals Corporation (TSE:ASP) Share Price Fall With The Market? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you own shares in Acerus Pharmaceuticals Corporation (TSE:ASP) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. In finance, Beta is a measure of volatility. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories. First, we have company specific volatility, which is the price gyrations of an individual stock. Holding at least 8 stocks can reduce this kind of risk across a portfolio. The second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the market. Some stocks are more sensitive to general market forces than others. Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). However, Warren Buffett said 'volatility is far from synonymous with risk' in his 2014 letter to investors. So, while useful, beta is not the only metric to consider. To use beta as an investor, you must first understand that the overall market has a beta of one. Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market. View our latest analysis for Acerus Pharmaceuticals Given that it has a beta of 1.85, we can surmise that the Acerus Pharmaceuticals share price has been fairly sensitive to market volatility (over the last 5 years). Based on this history, investors should be aware that Acerus Pharmaceuticals are likely to rise strongly in times of greed, but sell off in times of fear. Many would argue that beta is useful in position sizing, but fundamental metrics such as revenue and earnings are more important overall. You can see Acerus Pharmaceuticals's revenue and earnings in the image below. Acerus Pharmaceuticals is a noticeably small company, with a market capitalisation of CA$29m. Most companies this size are not always actively traded. It has a relatively high beta, suggesting it is fairly actively traded for a company of its size. Because it takes less capital to move the share price of a small company like this, when a stock this size is actively traded it is quite often more sensitive to market volatility than similar large companies. Since Acerus Pharmaceuticals has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment. For example, it might be a high growth stock or have a lot of operating leverage in its business model. This article aims to educate investors about beta values, but it's well worth looking at important company-specific fundamentals such as Acerus Pharmaceuticals’s financial health and performance track record. I urge you to continue your research by taking a look at the following: 1. Future Outlook: What are well-informed industry analysts predicting for ASP’s future growth? Take a look at ourfree research report of analyst consensusfor ASP’s outlook. 2. Past Track Record: Has ASP been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of ASP's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how ASP measures up against other companies on valuation. You could start with thisfree list of prospective options. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Amazon's 'The Lord of the Rings' TV series taps 'Jurassic World: Fallen Kingdom' director Director J.A. Bayona will follow in the footsteps of Peter Jackson on his way to Middle-earth. Bayona, the Spanish filmmaker who last helmed Jurassic World: Fallen Kingdom and A Monster Calls before that, will direct the first two episodes of Amazon’s The Lord of the Rings prequel series , EW has learned. “J.R.R. Tolkien created one of the most extraordinary and inspiring stories of all time, and as a lifelong fan it is an honor and a joy to join this amazing team,” Bayona said in a statement. “I can’t wait to take audiences around the world to Middle-earth and have them discover the wonders of the Second Age, with a never before seen story.” Bayona will also executive produce with his producing partner Belén Atienza. The series takes place in The Second Age of Middle-earth , long before the adventures of Frodo Baggins, Aragorn of Gondor, and Gandalf the Grey in Tolkien’s The Fellowship of the Ring novel. This time period is also referred to as The Age of Númenor and, in a map released by Amazon in March for the prequel, the lost island city Númenor is shown. It was a place where men ruled the seas before they were tempted to venture to the lands of their deities and the gods punished them by sinking the island. Plot details are not currently known, but The Second Age is also the time of the founding of the Elven city Rivendell and dealings with Sauron before his physical body was destroyed in the war for the Ring of Power. “We are thrilled to have J.A. and Belen joining the fellowship as we continue to develop this epic series,” JD Payne and Patrick McKay, the two showrunners and scribes writing the Lord of the Rings series, said in a statement. “We have been great admirers of J.A.’s work for years, and know that his epic, cinematic, and deeply heartfelt aesthetic is the perfect sensibility to bring Middle-earth to life anew.” With Bayona at the helm, Jurassic World: Fallen Kingdom , the second film in the planned Jurassic World trilogy, earned $1.31 billion at the worldwide box office. Bayona also previously directed episodes of Showtime’s Penny Dreadful in season 1. Story continues Deadline was the first to report the news. Related content: What to expect from Amazon’s Lord of the Rings show and its Second Age setting Amazon’s The Lord of the Rings series confirms setting: ‘Welcome to the Second Age’ Amazon’s Lord of the Rings TV series writers announced
Nine Line Apparel releases Betsy Ross Flag T-shirt in response to Nike controversy Nine Line Apparel released a Betsy Ross flag t-shirt in response to Nike's decision to pull its July Fourth-themed sneakers over issues of racial insensitivity raised by former NFL star Colin Kaepernick. (Credit: Instagram) A Georgia clothing company is releasing a Betsy Ross flag t-shirt in objection to Nike’s decision to pull its Fourth of July-themed sneaker collection following concerns raised by former NFL quarterback Colin Kaepernick that the apparel is racially insensitive. Nine Line Apparel, a veteran-owned apparel company located in Savannah, Ga., took issue with the fact that Nike canceled what it saw was “patriotic release.” The Georgia company believes the Betsy Ross flag directly represents the “freedom fought and owned by early Americans,” according to a description on its website. “Nine Line Apparel, along with relentlessly patriotic Americans everywhere, cannot believe the total ignorance and lack of understanding displayed by both Colin Kaepernick and Nike in relation to our country's Betsy Ross flag, it's symbolism and meaning,” the description reads. The company added that Nike’s decision to pull the line makes it look like they don’t care about Independence Day. “For Colin Kaepernick and Nike to say no to the release of what would have probably been a popular shoe for their summer footwear line is like saying no to our 4th of July holiday,” the website says. “The Betsy Ross flag has a direct correlation with this national patriotic holiday but Kaepernick and Nike don't care.” View this post on Instagram A post shared by Nine Line Apparel (@ninelineapparel) on Jul 2, 2019 at 11:55am PDT WJCL reported that that Nine Line Apparel’s CEO urged people to stop supporting Nike and join their boycott using the hashtag “#NoToNike.” “The American people should support the red, white, and blue and boycott Nike and join our #NoToNike campaign,” Nine Line Apparel CEO and retired U.S. Army captain Tyler Merritt told WJCL. “Nike says ‘just do it.’ We say just stand – stand for your beliefs and for your country.” While representatives from Nike did not immediately respond to Yahoo Lifestyle’s request for comment, Nike spokesman Mark Rhodes told Yahoo Sports in a statement on Monday that the company “has chosen not to release the Air Max 1 Quick Strike Fourth of July as it featured an old version of the American flag.” Story continues In a Facebook post, Nine Line Apparel called out both Nike and Kaepernick, writing, “Apparently, symbols of patriotism are now racist.” People immediately reacted to the post, some with comments mocking Nike for making decisions based on the former NFL star’s objections. “I’m amazed that Nike lets Colin make its business decisions,” one person commented. Another wrote, “Yes, I'm sure consumers are buying these to celebrate slavery. Stop giving this guy any extra publicity.” Others highlighted Arizona Governor Doug Ducey’s tweets against the company as well as his decision to “to withdraw all financial incentive dollars under their discretion that the State was providing for the company to locate here.” “Proud of our AZ governor......he pulled funding from Nike because of this decision,” a person commented. Someone else wrote “Proud of AZ governor. I will NEVER purchase another Nike item #boycott.” This isn’t the first time Nine Line Apparel has opposed Nike and Kaepernick, who was the first NFL player to kneel during the national anthem to protest racism and police brutality. Nine Line Apparel launched a “Just Stand” shirt in September 2018 in response to Nike’s decision to make Colin Kaepernick the face of its “Just Do It” 30th-anniversary campaign , along with the quote, "Believe in something. Even if it means sacrificing everything." Nine Line’s Betsy Ross t-shirt is a limited time special and sales will close on July 6. Yahoo Lifestyle has reached out to Nine Line Apparel for comment. Read more from Yahoo Lifestyle: Social media swoons over hot cop attempting to explain new law Family opens fireworks stand to raise money for daughter's nuptials: 'Weddings are not cheap' Hearse driver tries to pass off corpse as a passenger after getting pulled over for using carpool lane Follow us on Instagram , Facebook and Twitter for nonstop inspiration delivered fresh to your feed, every day.
Show of hands on immigrant health care belies a thorny issue WASHINGTON (AP) In one unanimous show of hands, Democratic presidential candidates moved the idea of full health insurance for people who are not legally in the United States into the political mainstream. That debate night moment last week symbolized the party's move to the left heading into a primary in which most candidates are trying to appeal to the progressive base. President Donald Trump immediately jumped on it to paint Democrats as extreme. Even if Democrats win the White House and both chambers of Congress, coverage for unauthorized immigrants would mean reversing long-standing restrictions in the government's main health insurance programs and a heated political battle more so should Republicans retain Senate control. The issue has been considered so politically sensitive that the " Medicare for All " bills in Congress don't explicitly say they'd cover immigrants here without legal permission. Instead legislation from Sen. Bernie Sanders, I-Vt., and a House counterpart calls for covering every U.S. "resident" and delegating the nation's health to define that term. The Senate bill has been endorsed by several of Sanders' rivals for the Democratic presidential nomination, including Sens. Cory Booker of New Jersey, Kirsten Gillibrand of New York, Kamala Harris of California and Elizabeth Warren of Massachusetts. Debating in Miami last week, Democrats argued that all Americans would be better off if everyone in the country had medical care. They pointed out that most immigrants are working and paying taxes that support programs such as Medicare and Social Security. "You cannot let people who are sick, no matter where they come from, no matter what their status, go uncovered," former Vice President Joe Biden said. Biden's approach calls for building on the Obama-era law he helped to pass, which now denies benefits to immigrants living in the country without permission. Story continues It wouldn't be a freebie, argued South Bend, Indiana, Mayor Pete Buttigieg, who has talked about a buy-in plan. "They pay sales taxes, they pay property taxes directly or indirectly," Buttigieg said. "This is not about a handout. This is an insurance program." Other Democrats say program design could lead to broader public acceptance. "If it is clear that they are paying for it, they could be getting basic care and avoid being in the emergency room at taxpayer expense," said Rep. Ro Khanna, D-Calif. Trump all but thanked the 10 Democrats on the debate stage. "All Democrats just raised their hands for giving millions of illegal aliens unlimited healthcare," he wrote on Twitter. "How about taking care of American Citizens first!? That's the end of that race!" A CNN poll raised a warning flag that echoed Trump's dismissive tweet: Among all Americans, 59% were opposed, while 38% were in favor. But Democrats had a different view. Roughly 6 in 10 Democratic voters for government health insurance coverage for people in the country illegally. The poll also highlighted a generational difference. Democrats under 45 supported coverage by 70% to 29% while those 45 and older were more closely divided, 55% to 41%. For now, flagship federal health programs remain off limits to all but U.S. citizens and legal residents. That includes Medicare, Medicaid, Children's Health Insurance and the Obama-era Affordable Care Act. Congress even forbade unauthorized immigrants to buy ACA coverage with their own money. America doesn't slam the door completely. Federally funded community health centers provide basic medical care to the uninsured without asking immigration questions. Hospital emergency rooms are required by law to treat and stabilize all patients, with government subsidizing the cost. Some states, like California, use their own funds to cover children regardless of immigration status. Of the 10 million to 11 million immigrants in the country without legal permission, many appear to have private coverage. The Kaiser Family Foundation estimates that roughly 4 million people are uninsured because of immigration status, while the Migration Policy Institute has a higher number, nearly 6 million. Both are nonpartisan research organizations. Opponents of covering unauthorized immigrants say it will only encourage more migration a potential problem supporters of the idea have acknowledged. The Medicare for All bills call for measures to deter immigration for the "sole purpose" of getting free medical care. "Adopting subsidized major health care programs for illegal aliens serves as the ultimate 'pull factor' for migrants and would exacerbate our nation's border crisis," said R.J. Hauman of the Federation for American Immigration Reform, which supports curbs on immigration. Cost is another factor. Hauman said it would be a new "multi-billion dollar" expense for taxpayers. However, independent experts at the Kaiser Foundation and Migration Policy say there's no authoritative number because the question hasn't been rigorously researched. Randy Capps, a senior researcher with the Migration Policy Institute, said immigrants living in the country illegally are generally a younger population, so bringing them into the private insurance system could also help with costs. "Undocumented immigrants are disproportionately young and healthy," Capps said. "From the point of view of providing preventive and primary care to a large group of people who are younger and healthier now but might get sicker later, it makes sense." ___ Associated Press writer Nicholas Riccardi in Denver contributed to this report.
Vodafone launches 5G in Britain with unlimited data plans By Paul Sandle LONDON (Reuters) - Vodafone switched on its 5G network in seven British cities on Wednesday, aiming to set itself apart in its home market from rival EE by offering unlimited data plans that include the high-speed service at no premium. The move by the world's No.2 mobile operator came as Deutsche Telekom announced a limited rollout of 5G services in its German home market, stealing a march on competitors. Nick Jeffery, chief executive of Vodafone UK, said offering unlimited data plans to both consumer and business customers would revolutionize the mobile market. "We will give customers all the data they need, when and where they want it," he said. Jeffery said Vodafone had examined how consumers used their devices and how it managed its network, including the efficiencies offered by 5G technology, before deciding to switch to unlimited data plans. "We thought it was the right role for Vodafone to get back to its roots as a great British tech innovator," he told reporters. EE, which is owned by BT, launched the first British 5G commercial service on May 30. It is offering a range of contract and sim-only deals for the ultrafast service. Vodafone is taking a different approach by offering unlimited downloads tiered according to speed, starting from 23 pounds ($28.90) a month for up to 2 Mbps, 26 pounds for up to 10 Mbps and 30 pounds for speeds as fast as the device and network will allow. "Let battle commence, Vodafone is looking to go toe-to-toe with EE," industry analyst Paolo Pescatore said. "The scale of its ambitions should not be underestimated. 5G represents a significant opportunity to turn around its fortunes in the UK." He added that the 5G market would see a further boost when Apple releases its first 5G device, most likely next year. HUAWEI UNCERTAINTY Vodafone is launching the service with Xiaomi Mi Mix 3 and Samsung S10 5G handsets and a 5G router. Both Vodafone UK and EE pulled 5G handsets made by China's Huawei from their launch line-ups because of uncertainty about support by Google's Android after a U.S. move to block the Chinese firm's access to its technology. The status of the ban remains unclear. Jeffery said Vodafone always complied with government guidance on its products and services. "But if it's possible for us to sell a wider range of 5G devices, particularly the Huawei one, we will," he added. Vodafone uses a range of telecom equipment suppliers including Huawei and Ericsson in its network, but it does not use the Chinese company in its core. "Huawei is one third of our base stations, and the other two-thirds are other vendors," chief technology officer Scott Petty said. "We like to use Huawei in base stations, they make great products and they work really, really well." Britain was set to allow Huawei some participation in the radio part of 5G networks but bar it from the intelligent core. But a decision has not been announced, and the U.S. and some politicians are pushing for a more far-reaching ban. Asked about the possibility of a total ban, Jeffery said Britain had to grasp the opportunity to be a technology leader. "Anything that slows us down is bad news for us all," he said. (Editing by Emelia Sithole-Matarise)
Why Shares of Plug Power Have Soared 81% So Far in 2019 Reversing course from the 48% plunge they experienced in2018, shares ofPlug Power(NASDAQ: PLUG)have risen more than 81% through the first six months of 2019, according to data fromS&P Global Market Intelligence. Besides management's auspicious outlook for the company's future and its commitment to strengthening its relationship with shareholders, several optimistic nods from Wall Street provided investors with inspiration to push shares higher. Plug Power wasted little time in the new year beforestoking investors' hopes. In an early January business update, management forecast it would report 2018 gross billings (revenue before the removal of provisions for common stock warrants) of $182 million to $185 million -- about 40% higher than what it reported in 2017. But the excitement this roused was surely eclipsed by the figures related to 2019. In the update, Plug Power forecast 2019 gross billings of $235 million to $245 million and positive adjustedEBITDAfor the full year. Image source: Getty Images. Extending throughFebruary, investors' enthusiasm continued intoMarch, a month in which shares ripped 34% higher. While the company's release of itsQ4 2018earnings report provided some of the cause for the bullish activity, management's apparent desire tofortify its relationship with investorsmotivated them even further. Sticking to his words -- as articulated in a mid-January blog post on the Plug Power website, in which he stated his intent to adopt a 10b5-1 stock trading plan -- Andy Marsh bought 12,286 shares at an average price of $2.44 on the open market, representing a $30,000 transaction. For investors the action spoke volumes, as there are few greater signs of management's confidence than when it puts its money where its mouth is. An additional factor in the stock's movement throughout the first half of 2019 was the bullish tide of sentiment revealed by several Wall Street analysts. Following Plug Power's business update in January, for example, Carter Driscoll, an analyst at B. Riley FBR, reiterated his buy rating on the stock and identified a $3.50 price target, according toThefly.com. Another analyst at B. Riley FBR reiterated the buy rating and price target in March. More recently, an analyst at H.C. Wainwright revealed similar optimism, maintaining a buy rating and assigning a $4 price target. For those familiar with Plug Power, the stock's rapid rise in 2019 should come as little surprise, as its history is replete with periods of wild price swings. Specifically, 2019 is shaping up to be similar to2017, a year in which the stock nearly doubled. While it'll be interesting to see what shares do in the second half of the year, I'll be more interested to see if the company rebounds from its lacklusterQ1performance and ultimately achieves its 2019 forecasts regarding gross billings and adjusted EBITDA. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Scott Levinehas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Why Lennox International Inc. (NYSE:LII) Could Be Your Next Investment Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! Lennox International Inc. ( NYSE:LII ) is a stock with outstanding fundamental characteristics. When we build an investment case, we need to look at the stock with a holistic perspective. In the case of LII, it is a well-regarded dividend payer with a great track record of delivering benchmark-beating performance. Below is a brief commentary on these key aspects. For those interested in understanding where the figures come from and want to see the analysis, read the full report on Lennox International here . Solid track record average dividend payer Over the past year, LII has grown its earnings by 30%, with its most recent figure exceeding its annual average over the past five years. Not only did LII outperformed its past performance, its growth also exceeded the Building industry expansion, which generated a 24% earnings growth. This is an optimistic signal for the future. NYSE:LII Income Statement, July 3rd 2019 For those seeking income streams from their portfolio, LII is a robust dividend payer as well. Over the past decade, the company has consistently increased its dividend payout, reaching a yield of 1.1%. NYSE:LII Historical Dividend Yield, July 3rd 2019 Next Steps: For Lennox International, I've put together three essential aspects you should further research: Future Outlook : What are well-informed industry analysts predicting for LII’s future growth? Take a look at our free research report of analyst consensus for LII’s outlook. Financial Health : Are LII’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out our financial health checks here . Other Attractive Alternatives : Are there other well-rounded stocks you could be holding instead of LII? Explore our interactive list of stocks with large potential to get an idea of what else is out there you may be missing! We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. If you spot an error that warrants correction, please contact the editor at [email protected] . This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
HP, Dell to Shift Up to 30% of Laptop Production From China, Report Says (Bloomberg) -- HP Inc. and Dell Technologies Inc. plan to move as much as 30% of their notebook production away from China, the Nikkei cited anonymous sources as saying, as global technology giants try to avoid escalating tariffs on U.S.-bound goods. Microsoft Corp., Amazon.com Inc., Sony Corp. and Nintendo Co. are also looking to move some of their game console and smart speaker manufacturing away from the country, the Nikkei Asian Review cited those sources as saying. Other companies including Lenovo Group Ltd., Acer Inc. and Asustek Computer Inc. are evaluating their options, the media outlet reported. Corporations foreign and domestic are seeking to pivot production away from China amid U.S. President Donald Trump’s efforts to use punitive tariffs to negotiate friendlier trade terms. While many are drawing up contingency plans, shifting select assembly operations or exploring alternative manufacturing venues, few have moved output in significant amounts and China’s status as the world’s production base for electronics is unlikely to diminish anytime soon. Alphabet Inc.’s Google has already shifted much of its production of U.S.-bound motherboards to Taiwan, averting a 25% tariff, Bloomberg News reported last month. “HP shares industry concerns that broad-based tariffs harm consumers by increasing the cost of electronics,” a spokesman said in a statement. “We are actively monitoring the situation and will continue to work with government officials to advocate for the best interests of customers, partners and consumers.” A Dell spokesman noted that it has a global supply chain and said the company continuously explores “alternative sourcing, production, and logistics strategies to best serve our customers.” A Lenovo representative said the Nikkei report was inaccurate, without elaborating. An Acer spokesman referred to CEO Jason Chen’s comment in May that his company planned to finalize a production plan for U.S.-bound products later this year and is open to all options. Representatives for Microsoft, Amazon, Sony, Nintendo weren’t immediately available for comment outside of normal business hours. Asustek spokesman Nick Wu declined to comment. U.S. companies, long accustomed to using China as the world’s workshop, are exploring alternatives as tensions run high and Beijing shows a willingness to clamp down on foreign firms within its own borders. It’s a shift that may herald a broader, long-term trend as Beijing and Washington continue to spar over everything from market access to trade. The Taiwanese contract manufacturers that make most of the world’s electronics, including Apple Inc.-partner Foxconn Technology Group, have since 2018 accelerated the shift at their clients’ behest. Foxconn said last month it has enough capacity to make all iPhones bound for the U.S. outside of China if necessary, although Apple has so far not asked for such a shift. The trade war threatens to disrupt a complex global supply chain involving many countries beyond just China and the U.S. Many components that go into devices aren’t made in the U.S., despite being designed there. A phone chip designed by Apple may come out of a factory in Taiwan, then be packaged (a process that prepares it for integration into a circuit) somewhere else, before being shipped to China for assembly into an iPhone. (Updates with companies’ responses in fourth paragraph.) --With assistance from Nico Grant. To contact Bloomberg News staff for this story: Debby Wu in Taipei at [email protected];Gao Yuan in Beijing at [email protected] To contact the editors responsible for this story: Tom Giles at [email protected], Edwin Chan, Molly Schuetz For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
Analyst: Revolve Is Capitalizing On The Influencer Revolution Bank of America Merrill Lynch has initiated coverage onthe newly publicRevolve Group LLC(NYSE:RVLV) The Analyst Justin Postinitiated coverage of Revolve with a Neutral rating and $36 price target. The Thesis "Revolve offers an aspirational consumer experience in women’s fashion powered by [a] data focused-merchandising approach," Post said in the Tuesday initiation note. (See his track record here.) BofA is constructive on the online retailer's long-term fundamentals on the basis of brand equity, data-focused inventory curation, healthy user growth and positive marketing spend ROI, the analyst said. BofA does not anticipate large revenue upside surprises in 2019, and with the stock up 82% from the IPO price, views the stock as being close to fairly valued. Amid the social media fashion influencer revolution, Revolve should be the top beneficiary of the movement, as it's cultivated a network of over 3,500 influencers alongside multiple marketing events to support the brand, Post said. Revolve’s strong brand and merchandising generates a positive ROI on marketing spend on the first transaction, which is unique in the e-commerce sector, the analyst said. The company has a profitable business model, with a 7.5% operating income margin expected in 2019, he said. Revolve has attractive growth prospects, but they come with high expectations, Post said. Price Action Revolve shares were down 0.6% at $34.58 at the time of publication Wednesday.Related Links: Wall Street Positive On Stitch Fix Despite Tough Apparel Retail Backdrop IPO Outlook For The Week: Biotech, Real Estate, IT Solutions And Secondhand Luxury E-Tail Latest Ratings for RVLV [{"Jul 2019": "Jul 2019", "": "", "Initiates Coverage On": "Initiates Coverage On", "Buy": "Overweight"}, {"Jul 2019": "Jul 2019", "": "", "Initiates Coverage On": "Initiates Coverage On", "Buy": "Outperform"}] View More Analyst Ratings for RVLVView the Latest Analyst Ratings See more from Benzinga • Cramer: Libra Digital Currency Is Transformational For Facebook • Carter Worth Sees The Bitcoin Pullback As A Buying Opportunity • 'Fast Money' Traders Weigh In On McDonald's, Chipotle And More © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
There’s still room to innovate in the cutting-edge cow semen business A line of dairy cows What do you get when the agricultural revolution and the sexual revolution collide? Sexed semen. Back in the mid-1980s, researchers started experimenting with a process that separates sperm carrying X chromosomes from those carrying Y chromosomes. By the early 2000s, it was standard practice in the agricultural industry to sort sperm for artificial insemination. By using X-chromosome sperm only, farmers can all but ensure a female animal—carrying two X chromosomes, instead of one X and one Y—will be born. Jeffrey Epstein’s fortune is built on fraud, a former mentor says It’s not a perfect technology. Compared to conventional artificial insemination, sexed semen typically results in fewer overall births. But researchers and farmers have plowed ahead to improve the technique, because the potential upside is so great: If you only need female animals, like cows to be milked, it’s both economical and ethical to avoid birthing males. As recently as 2006, the technology was new enough that only 1.5% of Holstein heifers were bred using sexed semen. Two years later, that proportion jumped to 14.5%. And now, several companies—including ST Genetics, Trans Ova Genetics, and ABS Global—claim their sexed semen conception rates are just as good as semen that hasn’t been tampered with. With higher rates, they hope to drive even more adoption of the technique. Continued innovation Hong Kong’s protesters put AirDrop to ingenious use to breach China’s Firewall As recently as 2016, ST Genetics claims, it was able to get 4 million X-chromosome sperm into an artificial insemination straw. To understand why that’s a big deal, you need to know a bit about sorting semen. First, you have to actually acquire it. Cows will mount anything, so the industry collects semen when bulls attempt to mount steers—neutered male cows. When the bull is erect, a human worker will slip a fake cow vagina onto the bull’s penis. Then, when the bull mounts the steer and ejaculates, the semen goes into an attached container. Story continues By using an expensive machine called a spectrometer, scientists can isolate the sperm they want from that sample. Using an electric force, dye, and lasers, they separate the X-chromosome carriers from the Y-chromosome carriers. Then the X-chromosome sperm are loaded as single doses into straws and frozen until use. A straw with conventional semen carries about 20 million sperm—that includes Y-chromosome sperm, dead sperm, and sperm with defects (think two tails instead of one). By contrast, sexed semen straws initially only contained about 2 million X-chromosome sperm, and only the strongest ones. That’s why their conception rate was initially much lower. This is where the private sector has made headway. By tinkering with the efficiency of the spectrometer and the biochemistry of the sperm, they figured out a way to include 4 million high-quality, X-chromosome sperm in individual straws. That’s double what was used in a recent Japanese study that determined normal bull semen is still the most reliable way to trigger conception—a 59.9% success rate to the high-tech sexed semen’s 47.3% success rate. So…sexed swine semen? ST Genetics sells sexed semen for at least five species of animal now, including cattle, horses, deer, sheep, and goats. The straws are sold for between $65 and $250 apiece, depending upon the species, quality, and use of the animal. (Sexed semen from a high-quality show pony, for example, might cost more than that from a goat.) The next wave of innovation will be to expand sexed sperm to more species. ST Genetics plans to offer sexed swine semen, partnering with a firm in Canada to develop its new methods. More than 100 years after the agricultural revolution began, innovation is still marching forward. The better the technology gets, the more money there is to be made getting food to our tables—and the fewer unnecessary animal lives there are to be lost. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Tip your delivery worker in cash, not via an app A “Go Back to Africa” media campaign uses AI to boost African American tourism
Is ASGN Incorporated (NYSE:ASGN) A Financially Sound Company? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! While small-cap stocks, such as ASGN Incorporated (NYSE:ASGN) with its market cap of US$3.2b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. Evaluating financial health as part of your investment thesis is crucial, since poor capital management may bring about bankruptcies, which occur at a higher rate for small-caps. The following basic checks can help you get a picture of the company's balance sheet strength. However, this is not a comprehensive overview, so I’d encourage you todig deeper yourself into ASGN here. ASGN's debt levels surged from US$566m to US$1.2b over the last 12 months , which includes long-term debt. With this growth in debt, the current cash and short-term investment levels stands at US$36m to keep the business going. Additionally, ASGN has produced US$277m in operating cash flow in the last twelve months, resulting in an operating cash to total debt ratio of 23%, meaning that ASGN’s debt is appropriately covered by operating cash. At the current liabilities level of US$314m, it seems that the business has been able to meet these obligations given the level of current assets of US$691m, with a current ratio of 2.2x. The current ratio is the number you get when you divide current assets by current liabilities. Generally, for Professional Services companies, this is a reasonable ratio since there's a sufficient cash cushion without leaving too much capital idle or in low-earning investments. With a debt-to-equity ratio of 90%, ASGN can be considered as an above-average leveraged company. This is a bit unusual for a small-cap stock, since they generally have a harder time borrowing than large more established companies. No matter how high the company’s debt, if it can easily cover the interest payments, it’s considered to be efficient with its use of excess leverage. A company generating earnings before interest and tax (EBIT) at least three times its net interest payments is considered financially sound. In ASGN's case, the ratio of 4.47x suggests that interest is appropriately covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback. ASGN’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow. This may mean this is an optimal capital structure for the business, given that it is also meeting its short-term commitment. This is only a rough assessment of financial health, and I'm sure ASGN has company-specific issues impacting its capital structure decisions. You should continue to research ASGN to get a more holistic view of the small-cap by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for ASGN’s future growth? Take a look at ourfree research report of analyst consensusfor ASGN’s outlook. 2. Valuation: What is ASGN worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? Theintrinsic value infographic in our free research reporthelps visualize whether ASGN is currently mispriced by the market. 3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
How Does Carlisle Companies Incorporated (NYSE:CSL) Stand Up To These Simple Dividend Safety Checks? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Is Carlisle Companies Incorporated (NYSE:CSL) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. While Carlisle Companies's 1.1% dividend yield is not the highest, we think its lengthy payment history is quite interesting. The company also bought back stock equivalent to around 5.9% of market capitalisation this year. When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable. Click the interactive chart for our full dividend analysis Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Looking at the data, we can see that 25% of Carlisle Companies's profits were paid out as dividends in the last 12 months. We like this low payout ratio, because it implies the dividend is well covered and leaves ample opportunity for reinvestment. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Of the free cash flow it generated last year, Carlisle Companies paid out 30% as dividends, suggesting the dividend is affordable. It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously. Consider gettingour latest analysis on Carlisle Companies's financial position here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. For the purpose of this article, we only scrutinise the last decade of Carlisle Companies's dividend payments. During the past ten-year period, the first annual payment was US$0.62 in 2009, compared to US$1.60 last year. This works out to be a compound annual growth rate (CAGR) of approximately 9.9% a year over that time. Companies like this, growing their dividend at a decent rate, can be very valuable over the long term, if the rate of growth can be maintained. The other half of the dividend investing equation is evaluating whether earnings per share (EPS) are growing. Growing EPS can help maintain or increase the purchasing power of the dividend over the long run. Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Carlisle Companies has grown its earnings per share at 12% per annum over the past five years. Earnings per share are growing at a solid clip, and the payout ratio is low. We think this is an ideal combination in a dividend stock. When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. Firstly, we like that Carlisle Companies has low and conservative payout ratios. Next, growing earnings per share and steady dividend payments is a great combination. Carlisle Companies has met all of our criteria, including having strong cash flow that covers the dividend. We definitely think it would be worthwhile looking closer. Companies that are growing earnings tend to be the best dividend stocks over the long term. See what the 6 analysts we track are forecasting for Carlisle Companiesfor freewith publicanalyst estimates for the company. If you are a dividend investor, you might also want to look at ourcurated list of dividend stocks yielding above 3%. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
3 Reasons to Buy Nvidia Stock (Once It Pulls Back) Nvidia(NASDAQ:NVDA) stock has performed very well since the beginning of June, and as the chart below shows, shares of NVDA are up nearly 12% since then. Compare the gain in Nvidia’s share price to theVanEck Vectors Semiconductor ETF(NYSEARCA:SMH), which is up just 6.8%. But considering this quick run-up in Nvidia’s stock, it would be wise to wait for a pullback before jumping in for the long haul. Click to Enlarge Source: Yahoo Finance Much of the bad news for Nvidia has already been priced in by the market. During their most recent earnings report on May 16, Nvidia’s management did not give an outlook for the remainder of the year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips However, they warned about continued softness in Nvidia’s datacenter segment and issues with a CPU shortage in the gaming segment. When those issues are combined with the well-known issue of continued revenue declines from cryptocurrency miners, it appears any bad news is already known by the market. “The data center spending pause around the world will likely persist in the second quarter and visibility remains low,” said Colette Kress, EVP & CFO on NVDA’sQ1 2019 earnings call. “In gaming, the CPU shortage while improving will affect the initial round of our laptop business.” One of the potential catalysts for Nvidia to drive growth is the pending acquisition ofMellanox Technologies(NASDAQ:MLNX), which is expected to close by the end of the year. The deal is important for Nvidia, because it provides growth at a time when growth has been lagging. During the Q1 earnings press release, the company noted that the deal would be immediately accretive upon closing. The one wildcard for this deal being finalized is the fact that it needs approval from China. Therefore, if there are continued trade tensions with China, the completion of the deal could be delayed or rejected. That is something investors should consider in their decision making process. FromNvidia’s earnings press release: “Once complete, the combination is expected to be immediately accretive to Nvidia’s non-GAAP gross margin, non-GAAP earnings per share, and free cash flow. The transaction is expected to close by the end of the calendar year.” Many investors will look at technical analysis as part of their decision process when determining to buy a stock, however many investors usually focus on short-term timeframes. When looking at short-term timeframes, shares of Nvidia are overbought, which is why some caution should be exercised. For stocks that I am considering holding for an extended period of time, I like to look at the long-term technical outlook, which means looking at a weekly or monthly chart versus the standard daily charts that many investors look at. Click to Enlarge Source: TradingView The adjacent chart paints a bullish picture for the technical outlook for Nvidia. The RSI on the weekly chart is still below 50 and both lines of the MACD are still below zero. Given these data points, I expect shares of Nvidia will retest the $200 level sometime this year. In closing, I believe Nvidia is a quality company at the intersection of a number of important trends, ranging from the data center to autonomous driving. If the pending acquisition of Mellanox Technologies is approved, it will provide an additional avenue of growth in the future. Since the bad news is known by the market, and considering Nvidia’s future growth prospects, it makes sense to be on the lookout for a quality opportunity to enter NVDA for the long-term. The time to enter is not at this moment in time, given the short-term overbought conditions that are present. Once the short-term overbought conditions subside, there should be an opportunity in the near future to be able to enter for the long-term. As of this writing, Brad Kenagy does not hold a position in any of the aforementioned securities. • 2 Toxic Pot Stocks You Should Avoid • 10 Stocks That Should Be Every Young Investor's First Choice • 5 IPO Stocks to Buy -- According to Wall Street Analysts • The Top 10 Best Sectors in the Market for 2019 The post3 Reasons to Buy Nvidia Stock (Once It Pulls Back)appeared first onInvestorPlace.
International Speedway Earnings: ISCA Stock Dips on Q2 Miss International Speedway earnings for the company’s second quarter of 2019 has ISCA stock down on Wednesday. Source:Marclo Fontana via Flickr (Modified) International Speedway(NASDAQ:ISCA) starts off its earnings report for the second quarter of the year with earnings per share of 37 cents. This matches the company’s earnings per share from the same period of the year prior. However, it was bad news for ISCA stock by missing Wall Street’s earnings per share estimate of 39 cents for the quarter. Net income reported in the International Speedway earnings report for the second quarter of 2019 is $16.67 million. This is an increase over the company’s net income of $15.07 million reported in the second quarter of the previous year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The most recent International Speedway earnings report also includes operating income of $17.26 million. That’s up from the company’s operating income of $15.50 million reported during the same time last year. International Speedway earnings for the second quarter of the year have revenue coming in at$171.68 million. This is better than its revenue of $168.08 million reported in the second quarter of the previous year. Unfortunately for ISCA stock, analysts were estimating revenue of $178.99 million for the period. • 10 Stocks That Should Be Every Young Investor's First Choice International Speedway also provides its outlook for 2019 in the second-quarter earnings report. It is expecting earnings per share ranging from $1.85 to $2.15 on revenue between $685.0 million and $705.0 million. Wall Street is looking for earnings per share and revenue of $2.00 and $696.73 million for the year. ISCA stock was down slightly as of Wednesday afternoon. • 2 Toxic Pot Stocks You Should Avoid • 10 Stocks That Should Be Every Young Investor's First Choice • 5 IPO Stocks to Buy -- According to Wall Street Analysts • The Top 10 Best Sectors in the Market for 2019 As of this writing, William White did not hold a position in any of the aforementioned securities. The postInternational Speedway Earnings: ISCA Stock Dips on Q2 Missappeared first onInvestorPlace.
Fire in Kentucky destroys Jim Beam warehouse filled with 45,000 barrels of bourbon A massive fire destroyed a Jim Beam warehouse filled with 45,000 barrels of bourbon in Kentucky, authorities said Wednesday. Firefighters from four counties responded to the Tuesday warehouse blaze in Versailles, local officials said. It was not immediately clear what the cause of the fire was but lightning may have been a factor, Woodford County Emergency Management director Drew Chandler said. No injuries were reported in the incident. One warehouse had caught fire before flames spread to a second structure, theCourier-Journalreported. Emergency crews were able to extinguish the fire in the second warehouse. Existing containment berms were reinforced with sand to limit runoff into a nearby creek. The fire was said to be so intense that it melted lights off the firetrucks. Officials from Beam Suntory, the subsidiary maker of Jim Beam, said the multi-story warehouse that burned contained “relatively young whiskey,” meaning it had not reached maturity for bottling for consumers. A normal barrel can hold about 53 gallons of the alcohol. "Given the age of the lost whiskey, this fire will not impact the availability of Jim Beam for consumers," the spirits company said in astatement. The destroyed whiskey amounted to about 1 percent of Beam's bourbon inventory, the world’s largest bourbon brand said in a statement. The company is owned by Suntory Holdings Ltd., a Japanese beverage company. Beam Suntory officials said the distiller has a "comprehensive" warehouse safety program that includes regular inspections and "rigorous protocols" to promote safety. The distiller said it operates 126 barrel warehouses in Kentucky that hold about 3.3 million barrels of its brands. CLICK HERE TO GET THE FOX BUSINESS APP This is just the latest fire at a warehouse in Kentucky. Last month, a storm partially collapsed a warehouse at O.Z. Tyler Distillery in Owensboro. Last year, half a warehouse collapsed at the Barton 1792 Distillery in Bardstown. The Associated Press contributed to this report. Related Articles • How Much is Michael Phelps Worth? • Ryan Lochte's Brand Value Sinks Amid Rio Scandal • Here's How You Get a Body Like An Olympian
Picking Kale in Paradise: Are Farms the Ultimate Resort Amenity? Imagine a placeand its not a tech startupwhere the freezer is always stocked with single-serving cups of premium ice cream and the fruit is still warm from the sun. Where you can drink a Mai Tai at sunset from a hammock overlooking the Pacific and, the next morning, pick herbs for your omelet, which youll cook on a range that costs more than your car. Its called Kukuiula (koo-koo-ee-OO-la), and its a luxury agrihood, a high-end residential development with a working farm or community garden. According to a report from the Urban Land Institute, 27 U.S. states and Canadian provinces have agrihoods, which provide high-quality food to people who may not want to be personally engaged with agriculture every day. Kukuiula, on the south shore of Kauai, sits on what was once one of the Big Five sugar plantations. Sugar and pineapple used to dominate Hawaiian agricultureat one point, roughly 25 percent of Hawaiians lived in plantation towns and campsbut the last sugar plantation closed in 2016. Now the island state grows just 15 percent of its own food. Courtesy of Kukuiula Which makes Kukuiulas 10-acre farm a particularly attractive amenity to residents, as well as guests of whats called the Lodge at Kukuiula, which is not actually a lodge but a collection of privately owned bungalows, cottages, and villas travelers can rent. The nightly fee includes access to the farm and a plantation-style clubhouse, where youll find the ice cream plus a game room, restaurant, bar and grill, open-air lobby, and wraparound lanai overlooking a truly great lawn. It also gets you entry to the 18,000-square-foot spa, a golf course, and a series of lagoon-style infinity and saltwater swimming pools connected by waterfalls. The overall effect is one of a five-start resort within a gated community without the gate. I stayed in a bungalow, about a four-minute walk to the clubhouse and a mile from the farm, with my family. Even though I mostly cooked macaroni and cheese and scrambled eggs for my toddler while we were there, I was curious about the farm. In a state where most of the food is shipped in, is the ultimate luxury locally grown kale? Story continues On a Friday morning, we drove down a country road that turned to gravel and dead-ended near a chicken coop. There was a lake stocked with peacock bass, and a huge tree with a wide canopy. You could have a beautiful wedding there, and people do. The two head farmers, Saundri and Mahea, both in rubber boots and sun-protection gear, greeted us as we got out of our rental car already sweating. Mahea, who studied tropical agriculture in college, gave us a tour of the raised beds planted with neat rows of vegetables, the orchard, and the flower garden. She told us about breadfruit, which is sort of like a potato and has a whole Hawaiian institute devoted to it. Saundri let us sample an apple-banana, a tiny sweet-tart fruit wed only been able to find inedibly unripe in the health food store on the islands ritzy north shore. Courtesy of Kukuiula My husband asked a lot of questions. Hes a plant-whisperer whos turned our backyard, once mostly lawn, into an urban farm. He grows melons, beans, asparagus, lettuce, flowersbasically, whatevers at the farmers market is growing behind our house. I love being able to pick my own salad greens and strawberries, but not so much that I would ever be willing to germinate seeds, install an irrigation system, or shovel compost. At Kukuiula, you can reap nearly 80 fruits and vegetables. If you dont feel like harvesting produce, you can grab some from the farm-stocked cooler that sits just outside the entrance to the clubhouse. Or eat the kale in a salad poolside. Or drink a cocktail with ginger-flower simple syrup from the bar. Courtesy of Kukuiula And thats the allure of extra-gentlemanly gentlemen farming: getting to feel connected to the land without being so connected that there are strings attached. With Mother Earth as a mistress, there are not fights over carpooling, just sexy dinner-dates. Its grandparenting writ large, a cooking class in which everythings already been minced. Enjoying all the best parts of a place without necessarily having to earn them, is the fantasy implicit in getting away from it all by escaping to your second home or, in this case, someone elses. Before we left the farm, Saundri gave us a paper bag with three heads of baby bok choy inside. I suspected I wouldnt cook itwe had good pans and knives but no oil or soy sauceand it did, indeed, wilt in the crisper of our Sub-Zero refrigerator. While I felt bad for wasting food, something I almost never do at home, I didnt feel nearly as guilty as I would have if Id grown it myself.
The Right Way to Add Bonds to Your Portfolio Speculating on the direction of interest rates is a popular sport in the bond market. But it's proving a challenging one lately. The U.S. economy is perking along, and when that happens, bond interest rates usually rise. But not this time. For the first quarter of 2019, gross domestic product increased at an annual rate of 3.2%, compared with 2.2% in the fourth quarter of 2018. But 10-year bond rates actually declined--from 3.1% in mid May 2018 to 2.4% a year later. (Prices and returns are as of May 17.) See Also: Kiplinger's Economic Outlook -- Interest Rates One explanation may be a disconnect between economic growth and inflation. Despite moderate-to-good GDP increases, inflation has been tame for seven years now, averaging just 1.6%. Or perhaps businesses and investors are expecting the economy to cool off. After all, this expansion is now the longest in at least 165 years, since records have been kept. And the consensus estimate of economists surveyed by Blue Chip Economic Indicators is for GDP growth of only 2.3% this year. The reason bond investors fixate on where interest rates are headed is that bond prices move in the opposite direction of interest rates. Here's why: A bond is an IOU, a promise that a borrower--the U.S. Treasury, Procter & Gamble, or the Three Rivers Park District in Minnesota--will pay you back on a set maturity date and, along the way, will pay you interest. In almost all cases, those interest payments are fixed, in contrast with dividend payments from stocks, which the issuing company can vary at will. When a bond is issued, its rate, or coupon, is set by market forces influenced by three factors. The first is maturity, or how long the borrower can keep the loan before returning the principal; investors--lenders in this case--want higher rates for a longer term. The second is the danger of default, or credit risk. What are the chances that the borrower will get into trouble and miss interest or principal payments? The third factor is the prevailing interest rate. Interest rate risk refers to the fact that prevailing rates can vary widely over the term of the bond. Story continues For example, if you buy a $10,000 Treasury bond yielding 5% and rates rise to 8%, then your bond won't be worth as much if you sell it before maturity. Its market price will fall. After all, investors will be able to buy a similar bond that pays $800 in interest a year, compared with your bond paying $500. If rates fall, however, your 5% bond will be worth more. Its price on the market will rise. If you think interest rates will drop in the years ahead, then you can make money buying today (at presumably low prices) and selling tomorrow (at higher ones). Adding stability. But that's not a sport I like. Speculating about where interest rates are headed is probably a fool's errand. Instead, think of bonds as adding ballast to your portfolio. Deployed well, they give your portfolio stability, no matter where interest rates are headed. When you put together a portfolio, a rock-solid principle is to find groups of assets that are not correlated. When the prices of some go down, the prices of others go up--or, at least, don't go down as much. Stocks and bonds are classic uncorrelated assets. When stocks rise sharply, it usually indicates that optimistic businesses and consumers are doing more borrowing and anticipating more inflation, which in turn means higher interest rates. And those higher rates equal lower bond prices. Conversely, when the economy slows, rates fall, so bond prices rise. For this reason, high-quality bonds are supposed to be the safer part of your portfolio. [PULLQUOTE] The best way to protect yourself from interest rate risk is to build a ladder. Laddering bonds dampens the risk that your portfolio will take an outsize hit when prevailing market rates rise. Say you have $50,000 to invest. Rather than putting all the money into bonds that mature the same year, spread out the maturities over 10 years. Pay $10,000 for a bond that matures in two years, another $10,000 for a bond that matures in four years, and so on to year 10. When the two-year bond matures, take the proceeds and buy a new bond maturing in 10 years, and so on. If rates have risen, that new bond will pay more than the last. And you won't be a big loser if you have to sell your bond portfolio early. Then there is the matter of which bonds to buy. It's complicated. Bonds issued by businesses vary in risk. A high-yield, or junk, bond from Chesapeake Energy maturing in 2027 recently yielded about 9%; at the same time, a higher-rated, investment-grade 2027 bond from Bank of America yielded about 3%. Municipal bonds, which are issued mostly by state and local governments and whose interest payments are exempt from federal tax, can make sense for high-income taxpayers, but the contract between borrower and seller is often complex and opaque. One feature of munis is that many of them can be called, or cashed by the issuer before maturity if interest rates fall. See Also: 10 Top-Rated Industrial Stocks to Snap Up Now My preference is to play it safe, owning either solid corporates or U.S. government bonds with maturities in the range of seven to 10 years. U.S. government bonds come in two varieties: those issued by the Treasury itself and those issued by agencies and government-sponsored entities, such as the Tennessee Valley Authority or Fannie Mae. The Treasury not only issues a wide variety of debt in different maturities--ranging from four-week bills to 30-year bonds--but it also offers TIPS, or Treasury Inflation-Protected Securities, whose returns are linked to the inflation rate. Agency and GSE bonds carry a slightly higher interest rate than Treasuries with little or no extra risk. You can buy bonds from brokerage firms or, in the case of Treasuries, online through www.treasurydirect.gov . For many investors, however, the best way to own bonds is through mutual and exchange-traded funds. Unfortunately, fund buying can also be tricky because managers may be making purchases based on risky bets that interest rates will rise or fall. It's better, therefore, to buy either managed funds with a low portfolio turnover or index funds. Ideal is Vanguard Intermediate-Term Bond Index Fund (symbol VBILX ). The majority of its holdings are U.S. Treasuries, but it also owns corporates to boost the yield, which was recently 2.9%. The expense ratio is 0.07%, and the average maturity is about seven years. Another good choice, iShares 7-10 Year Treasury Bond ( IEF , $107), is an ETF that owns only Treasuries, with average maturities of 8.3 years. Expenses are 0.15%, and the yield is 2.3%. If you worry that inflation is returning, invest in iShares TIPS Bond ( TIP , $114), an ETF that holds TIPS with maturities averaging eight years. Finally, consider Fidelity GNMA ( FGMNX ), a mutual fund that primarily owns Ginnie Mae securities. Ginnie Mae (the Government National Mortgage Association), a corporation within the U.S. Department of Housing and Urban Development, guarantees mortgages for first-time and low-income home buyers participating in federal programs. The fund recently yielded 2.7%. Just remember that bonds are not for gambling. They are for keeping your portfolio on an even keel, even if you have no idea what the economy, inflation, and interest rates hold in store. (For another take on bonds, see The 2019 Midyear Outlook for Income Investing .) James K. Glassman chairs Glassman Advisory, a public-affairs consulting firm. He does not write about his clients. His most recent book is Safety Net: The Strategy for De-Risking Your Investments in a Time of Turbulence. EDITOR'S PICKS 10 Top-Rated Industrial Stocks to Snap Up Now Mexico Tariffs Could Rattle These 5 Stocks 5 Stocks to Buy Now for the Rest of 2019 Copyright 2019 The Kiplinger Washington Editors
5 Top & Flop ETF Areas of Q2 Wall Street had a moderate second quarter this year with the S&P 500, the Dow Jones and the Nasdaq adding 3.4%, 2.1% and 3.1%, respectively. After an upbeat April and May swoon, Wall Street logged the best June gains in decades. Trade tensions that caused severe market turmoil in May have probably made the market oversold and cheaper-valued, on which June continued to build up its gains. Dovish Fed comments, chances of a U.S.-China trade truce and likelihood of continuation of OPEC output cut led to this stellar gain. Against this backdrop, below we highlight a few best-and-worst performing ETFs of June. Dry Bulk Shipping BDRY is an actively managed ETF that seeks to provide exposure to daily changes in the price of dry bulk freight futures. Though the freight rate market is not in a good position, there has been slight improvement of late.Breakwave Dry Bulk Shipping ETF (BDRY)added 40.5% in the second quarter(read: ETFs That Topped & Flopped in Q1). Solar An announcement from the U.S. trade delegation that a particular type of solar panel is being taken out from the tariff list probably boosted solar stocks in the quarter, per a source. Some of the holdings of the fund TAN — Canadian Solar and Jinko — shot up on the announcement. Also, there is news that some states, including California, are using solar subsidies to boost the adoption of solar power. California, in fact, mandated all new homes built starting in 2020 to have solar power. The likelihood of Chinese subsidies acted as another catalyst.Invesco Solar ETF (TAN)added 22.1% (read: 6 Top ETFs of April). Greece The Greek stock market has been on a tear on a recovering economy. There has been a rise in liquidity in local financial institutions. Banks have almost repaid emergency European Central Bank (ECB) liquidity assistance, per Global X report. In March, Moody’s raised Greece’s long-term debt rating by two notches. A big defeat of the ruling leftist coalition in regional and Euro elections has added to the strength.Global X MSCI Greece ETF (GREK)was up 19.4%. Argentina After the 2018 swoon, Argentina’s stock market rebounded this year. Argentina's central bank’s move to introduce a tighter monetary policy late last year to curtail the peso's slide and curb inflation has started to pay off. A dovish Fed and moderate strength in the greenback are other positives.iShares MSCI Argentina and Global Exposure ETF (AGT)(up 17.7%) andGlobal X MSCI Argentina ETFARGT) (up 17.5%) gained from the trend (read: Top Performing Country ETFs of 1H). Gold Mining Gold had a stellar June (its best month in three years) thanks to dovish Fed comments and a safe-haven rally amid fears of heightened tariff wars and geopolitical tensions. Since mining stocks are leveraged plays of the underlying metal, gold mining stocks went through the roof in the second quarter.iShares MSCI Global Gold Miners ETFRING (up 17.2%) andSprott Gold Miners ETFSGDM (up 16.2%) are the toppers in this segment. Flop ETFs Media FAANG stocks suffered in the quarter amid Anti-Trust scrutiny fears. Government regulators are setting the stage for potential antitrust probes into four technology giants, namely Apple AAPL, Facebook FB, Amazon AMZN and Alphabet GOOGL.AdvisorShares New Tech And Media ETFFNG (down 21.5%) led the slump. Inverse Treasury Amid lower rates, bond yields fell, boosting the price of U.S. Treasury ETFs. Thus,Barclays Inverse US Treasury Aggregate ETNTAPR shed about 20.9% in the quarter. Oil Services Investors should note that the S&P downgradedHalliburtonHAL andSchlumbergerSLB in late May. The news dealt a blow to oil service stocks. "Oilfield services companies will no longer be able to generate the high operating margins they did in 2014," S&P analyst Carin Dehne-Kiley said in the note. Also, U.S. oil rig count fell to the lowest since February 2018, per Baker Hughes data. Market watchers are of the view that “shale producers are cutting back in a bid to conserve capital,” which means “less drilling and fracking work for top oilfield services providers.”SPDR S&P Oil & Gas Equipment & Services ETFXES andVanEck Vectors Oil Services ETFOIH lost 16.6% and 14% in the quarter, respectively (read: What Went Wrong With Oil Services ETFs in May?). Natural Gas U.S. natural gas reached its lowest price level since May 2016on ample supplies. Four-year low natural gas prices aren’t likely to turn around materially until there is some forecast of inclement weather, which can boost demand for the commodity.First Trust Natural Gas ETFFCG andUnited States Natural Gas Fund, LPUNG lost about 15.4% and 15.3%, respectively, in the quarter (read: Will Natural Gas ETFs Recover in the Near Term?). Marijuana After a rally in the beginning of the year, price of marijuana fell in the second quarter probably on overvaluation concerns.ETFMG Alternative Harvest ETFMJ retreated about 12.4% in the quarter. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportFacebook, Inc. (FB) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportApple Inc. (AAPL) : Free Stock Analysis ReportFirst Trust Natural Gas ETF (FCG): ETF Research ReportsSPDR S&P Oil & Gas Equipment & Services ETF (XES): ETF Research ReportsiShares MSCI Global Gold Miners ETF (RING): ETF Research ReportsVanEck Vectors Oil Services ETF (OIH): ETF Research ReportsBarclays Inverse US Treasury Composite ETN (TAPR): ETF Research ReportsSprott Gold Miners ETF (SGDM): ETF Research ReportsInvesco Solar ETF (TAN): ETF Research ReportsGlobal X MSCI Greece ETF (GREK): ETF Research ReportsSchlumberger Limited (SLB) : Free Stock Analysis ReportHalliburton Company (HAL) : Free Stock Analysis ReportAgilent Technologies, Inc. (A) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Why Bernie Sanders’ Wall Street Tax Isn’t Likely to Raise Trillions Like He Says Presidential candidate Sen. Bernie Sanders has proposed a financial transactions tax to cover the cost of making some types of higher education free while canceling $1.6 trillion in student debt. Here are the details of the plan from Sanders’ campaign: “We can guarantee higher education as a right for all and cancel all student debt for an estimated $2.2 trillion. To pay for this, we will impose a tax of a fraction of a percent on Wall Street speculators who nearly destroyed the economy a decade ago. This Wall Street speculation tax will raise $2.4 trillion over the next ten years. It works by placing a 0.5 percent tax on stock trades – 50 cents on every $100 of stock – a 0.1 percent fee on bond trades, and a 0.005 percent fee on derivative trades.” But would the proposed tax really raise more than $200 billion a year? Howard Gleckman of the Tax Policy Center says that Sanders’ plan suffers from a contradiction that would make fulfilling that goal quite difficult. On the one hand, Sanders wants to raise a lot of money to pay for new social goods. On the other hand, Sanders wants to discourage speculation by taxing what many critics see as excessive trading on Wall Street. The problem, Gleckman says, is that if the tax is effective, it will reduce trading and thereby raise less money than projected. “Because high-frequency traders live by arbitraging tiny spreads in stock prices, the Sanders [financial transactions tax] would put them out of business,” Gleckman writes. “But shutting down the flash boys would slash the revenue Sanders needs to pay for free college.” Ultimately, the financial transaction tax may have some value, Gleckman says. But its predictable effects mean that it would likely fall short of paying for Sanders’ educational agenda, producing only 10% to 20% of its stated goal. Like what you're reading? Sign up for our free newsletter .
US STOCKS SNAPSHOT-Wall Street closes shortened session at record highs NEW YORK, July 3 (Reuters) - U.S. stocks rose on Wednesday, with each of the major indexes closing at a record high, as expectations grew that the Federal Reserve would take a more dovish turn as a raft of data provided more evidence of a slowing economy. The Dow Jones Industrial Average rose 179.04 points, or 0.67%, to 26,965.72, the S&P 500 gained 22.75 points, or 0.77%, to 2,995.76 and the Nasdaq Composite added 61.14 points, or 0.75%, to 8,170.23. (Reporting by Chuck Mikolajczak Editing by James Dalgleish)
Boeing offers $100m for families of passengers killed in 737 Max crashes Boeinghas pledged to give $100m (£80m) for the families and communities affected by two crashes of its 737 Max plane. Accidents involving a Lion Air jet last October and an Ethiopian Airlines plane in March left 346 people dead. The crashes caused aviation regulators to ground the aircraft worldwide. Boeing, which is facing dozens of lawsuits over the accidents, said some of the money would go towards living expenses and to cover hardship suffered by the families of dead passengers. However it will not go directly to the families, rather to local governments and charities to help with education and living expenses and to spur economic development in the areas worst affected by the crashes. Dennis Muilenburg, Boeing chairman, president and chief executive, said: "We at Boeing are sorry for the tragic loss of lives in both of these accidents and these lives lost will continue to weigh heavily on our hearts and on our minds for years to come. "The families and loved ones of those on board have our deepest sympathies, and we hope this initial outreach can help bring them comfort." The company said it would release more information about the payout, which will be spread over several years, in the near future. Boeing employees will also have the opportunity to make donations in support of those impacted by the accidents, with the firm promising to match the amount raised. Relatives of passengers on theLion Airplane that crashed off the coast of Indonesia agreed to try to settle through mediation, but families of passengers killed in theEthiopian Airlinescrash are waiting until more is known about the accidents. Preliminary investigations point to the role played by new software that pushed the planes' noses down. Boeing is updating the software but the timetable for the jets to return to the skies continues to be pushed back. Last week major US airlines announced they were extending Boeing 737 Max cancellations into the autumn as the jet waits to be recertified. Dallas-based Southwest Airlines said in a statement that it was removing the Max from its schedule until 1 October, which means roughly 150 flights a day out of 4,000 will be cancelled. United and American Airlines are removing the Max from schedules until 3 September. European airlines are also affected, including Norwegian, Ryanair and Tui. Additional reporting by agencies
Mobile game streaming service Hatch is available in the UK When it comes to game streaming, it's not just the likes ofMicrosoft,GoogleandSonywho are trying to capture players' attention. There's a mobile-focused option too, and it's now available in the UK. Hatchteamed up with Vodafone for its official launch in the nation, which takes place just as the carrierstarts switching on its 5G network around the British Isles.Vodafone subscribers get access to Hatch's premium tier free for three months, then it'll cost £6.99/month. The lineup of more than 100 games includes severalAngry Birdstitles (not too surprising, as Hatch is aRoviosubsidiary),Monument Valley,Hitman Go,Badlandand some exclusives. You can chat with your buddies inside the Hatch app, play games with them, check out leaderboards, share gameplay clips and take part in tournaments. There's also a section for kids, while non-subscribers can check out 20 games for free. For now, Hatch runs on some5G-enabled phonesand handsets running at least Android 6.0 with more than 1 GB of RAM. It also works on certain Android TVs and set-top boxes. Apple, meanwhile, has itsown game subscription plan on the way.
Here's Why I Think Arrow Electronics (NYSE:ARW) Might Deserve Your Attention Today Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling short, can easily find investors. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses. In contrast to all that, I prefer to spend time on companies likeArrow Electronics(NYSE:ARW), which has not only revenues, but also profits. While profit is not necessarily a social good, it's easy to admire a business than can consistently produce it. Conversely, a loss-making company is yet to prove itself with profit, and eventually the sweet milk of external capital may run sour. View our latest analysis for Arrow Electronics If you believe that markets are even vaguely efficient, then over the long term you'd expect a company's share price to follow its earnings per share (EPS). Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. Over the last three years, Arrow Electronics has grown EPS by 16% per year. That growth rate is fairly good, assuming the company can keep it up. One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. While we note Arrow Electronics's EBIT margins were flat over the last year, revenue grew by a solid 8.2% to US$30b. That's progress. In the chart below, you can see how the company has grown earnings, and revenue, over time. Click on the chart to see the exact numbers. Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want tocheck this interactive graph of professional analyst EPS forecasts for Arrow Electronics. Since Arrow Electronics has a market capitalization of US$6.1b, we wouldn't expect insiders to hold a large percentage of shares. But we do take comfort from the fact that they are investors in the company. With a whopping US$62m worth of shares as a group, insiders have plenty riding on the company's success. That's certainly enough to make me think that management will be very focussed on long term growth. One positive for Arrow Electronics is that it is growing EPS. That's nice to see. If that's not enough on its own, there is also the rather notable levels of insider ownership. That combination appeals to me, for one. So yes, I do think the stock is worth keeping an eye on. While we've looked at the quality of the earnings, we haven't yet done any work to value the stock. So if you like to buy cheap, you may want tocheck if Arrow Electronics is trading on a high P/E or a low P/E, relative to its industry. Although Arrow Electronics certainly looks good to me, I would like it more if insiders were buying up shares. If you like to see insider buying, too, then thisfreelist of growing companies that insiders are buying, could be exactly what you're looking for. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
People Say They Would Live in These Home Decor Stores Photo credit: Roy Beeson From House Beautiful It's the ultimate complement for a store, especially a home decor one: "I could move in." Well, with that in mind, we decided to ask our followers, if you could live in one home store, what would it be? The answers were varied, ranging from big chains— Restoration Hardware , West Elm , Anthropologie —to smaller, independent stores, like New York's ABC Carpet & Home. Here are some of the top responses, from decor fans and professional designers alike. View this post on Instagram Honestly I think about this a lot. A post shared by House Beautiful (@housebeautiful) on Jul 2, 2019 at 2:55pm PDT Restoration Hardware Apparently the all-gray home trend isn't going anywhere, because a slew of responders confessed to wanting to live in the brand's modern galleries. Though, to be fair, RH does offer an added bonus: their in-store restaurants. "You'd get free brunch," pointed out one customer. West Elm West Elm was another popular choice, with several commenters opting to move in among its array of warm, modern furniture. View this post on Instagram Create your sleep sanctuary & visit us on the lower level of #abccarpetandhome. Here you’ll discover our wide array of handmade linens, dreamy bedding, silk pillows, and so much more ☁️ \| Photo c/o @homepolish A post shared by abc carpet & home (@abccarpetandhome) on Jun 19, 2019 at 11:05am PDT ABC Carpet & Home This iconic New York store (which opened a Brooklyn outpost last year) got several mentions, and for good reason. The shop is known for its delightfully creative merchandising—plus, it boasts some of the city's best restaurants: ABC Kitchen, ABC Cocina, and the vegetarian ABCv. But take it as a former employee: Spend one holiday season there, and you'll be scrubbing glitter out of your scalp for months. Anthropologie Though not technically a home store, this one got a lot of mentions. In its defense, the brand does offer an appealing collection of home decor, including colorful, whimsical furniture and collaborations with independent artists and designers. As one commenter put it, "I’ll take West Elm, plus, Anthropologie as a summer vacation home." Story continues HomeGoods Ok, I'm all for a good bargain and searching the offerings at HomeGoods is definitely a passion, but to live there? Waking up to a fever dream of mismatched candles and decorative pillows scattered about under the glare of fluorescent lighting? It's not for me, but to many, it's a dream come true. Photo credit: Nathan Kirkman Jayson Home This Chicago home store offers an ever-evolving array of vintage and globally sourced furniture and decor, so you'd be waking up to something new and different each day. Ikea Okay, I see the appeal of the Swedish fan favorite: As one commenter put it, "Swedish meatballs, soft serve ice cream, salmon salad, those ginger cookies, and a million different rooms to chill out in." But, would you really want a home that requires a map to navigate? On the plus side, it would feel like a palatial estate. View this post on Instagram Our Hamptons Design Shop is ready for a fun-filled summer. Check out our events page for in-store happenings. Photo: @dawnspinnerdavis #serenaandlily #slhamptons A post shared by Serena & Lily (@serenaandlily) on Jul 1, 2019 at 4:40pm PDT Serena & Lily Several commenters opted for Serena & Lily, whose stores are all built to feel like bright, airy homes—that just happen to have tons of classic furniture and preppy textiles to sell. We'll call this the ultimate beach home. View this post on Instagram Happy to see the sun come out today, getting ready for a weekend at the beach. #inspiration #interiors #blueandwhite #starburst #weekendvibes #sunshine #summer A post shared by John Rosselli Antiques (@johnrosselli) on Jun 13, 2019 at 1:44pm PDT John Rosselli Antiques Designer Philip Mitchell suggested this beloved New York institution for unique decor and antiques. View this post on Instagram New arrivals at #galeriehalf Photo: @shadedeggesphotography A post shared by galerie half (@galerie_half) on May 24, 2019 at 10:12am PDT Galerie Half Les Ensembliers opted for a simpler option: Galerie Half, the furniture showroom on Los Angeles's Melrose Place, which offers a mix of modern furniture and antiques, all in a pared-back interior. Photo credit: Barbara Brannon - Flickr Magnolia Market Of course someone had to mention Chip and Jo Gaines's home store/general compound. And if you're down for relocating to Texas, it wouldn't be such a bad place to call home. Here's why. See all the responses—and chime in with your own—here. Follow House Beautiful on Instagram . ('You Might Also Like',) 7 Secrets HomeGoods Employees Won't Tell You 19 Closet Organization Ideas You'll Want to Steal Immediately 15 Styling Tricks That Make A Small Living Room Seem Bigger Than It Is
Parents of Las Vegas massacre victim sue gunmakers over bump-stock-ready weapons By Peter Szekely July 3 (Reuters) - The parents of one of the 58 people slain in a 2017 Las Vegas mass shooting sued the makers and sellers of the assault-style rifles used in the attack, saying they knew the weapons could be jury-rigged to work similarly to illegal machine guns. The wrongful death lawsuit placed blame for the high death toll in the deadliest mass shooting in modern U.S. history squarely on the manufacturers and dealers who allegedly knew the weapons could be converted into rapid-firing machines. The lawsuit filed by James and Ann-Marie Parsons, whose daughter Carrie was struck by one of the 1,049 shots fired in the 10-minute Oct. 1, 2017, barrage on 20,000 unsuspecting concertgoers, seeks unspecified damages from 16 gunmakers and gun dealers. "The events of Oct. 1 would not have occurred but for the defendants' illegal and wrongful conduct," said the complaint, which was filed in Nevada state court in Las Vegas. The gunman, Steven Paddock, brought ammunition and an arsenal of 12 semi-automatic AR-15-style rifles that he converted with "bump stocks" to fire about as quickly as fully automatic weapons. He ended his attack by taking his own life. Bump stocks use a gun's recoil to bump its trigger, enabling a legal semi-automatic weapon to fire hundreds of rounds per minute as if it were a fully automatic machine gun. Machine guns are illegal in the United States. The incident prompted the Trump administration to implement a ban on bump stocks on March 26, which the Supreme Court upheld in at least three challenges. The lawsuit alleges that the defendants knew the ease with which AR-15s could be made to fire similarly to illegal machine guns, not only with bump stocks, but with household items such as shoe laces and rubber bands, and promoted them that way. The lawsuit said "AR-15s were the weapon of choice for mass shooters looking to inflict maximum casualties," at targets including Sandy Hook Elementary School in Connecticut, an Aurora, Colorado, movie theater and an Orlando, Florida, nightclub. "It was only a question of when – not if – a gunman would take advantage of the ease of modifying AR-15s to fire automatically in order to substantially increase the body count during a mass shooting," the lawsuit said. The lawsuit names as defendants Colt Defense LLC and its Colt Manufacturing Co LLC subsidiary; Daniel Defense Inc; Patriot Ordinance Factory; Herstal Group and its FN America and FN Herstal subsidiaries; Noveske Rifleworks LLC, Christensen Arms, Lewis Machine & Tool Co, LWRC International LLC, Discount Firearms and AMMO LLC, DF&A Holdings LLC, Maverick Investments LP, Sportsman's Warehouse and Guns and Guitars Inc. The companies could not be reached for immediate comment on Wednesday. (Reporting by Peter Szekely in New York; Editing by Scott Malone and Jonathan Oatis)
Exclusive: Sweden's EQT targets Asia Pacific as IPO decision looms By Esha Vaish and Pamela Barbaglia STOCKHOLM/LONDON (Reuters) - High above Stockholm's skyline, Sweden's EQT Partners is plotting the next chapter in its rapid rise from a Nordic-focused investor to the world's seventh-biggest buyout firm, with a focus on growth in the Asia Pacific region. With 40 billion euros ($45 billion) under management, EQT has quietly transformed itself since its launch in 1994 from an investment arm for Sweden's influential Wallenberg family into Europe's second-largest private equity (PE) fund behind Britain's CVC. EQT raised a record 9 billion euros in March for its fourth infrastructure fund and in May paid $8.2 billion for U.S. fiber network firm Zayo <ZAYO.N> and $10 billion for Nestle's <NESN.S> skincare unit, its largest deal to date. While much of EQT's growth outside of the Nordics has come from buying and selling companies in Germany and Switzerland, its management is now turning east for expansion. "Asia offers a great opportunity for growth and we intend to increase our presence there," Chief Executive Christian Sinding told Reuters at EQT's new headquarters. The 46-year old Norwegian, dressed in shirt and jeans rather than formal business attire, stressed that the fund wanted to grow in areas where it was still small rather than expanding in new asset classes. Sinding said EQT may pursue an initial public offering (IPO) as part of a strategic review which was announced last year. A decision on whether to proceed would be made after the summer. "In order to future-proof EQT and continue our growth, we are considering taking this a step further by building EQT's own balance sheet," Sinding told Reuters. And while economic uncertainty means tougher times might lie ahead, Sinding - who has worked at EQT for 21 years and has led its equity investment advisory team since 2011 - sees bigger deals and larger funds as a natural evolution. "We think a lot about the recession. EQT pays high multiples for assets, but we're okay with that because it's about buying really good companies and making them better," he added. Sources familiar with the Nestle deal said EQT paid close to 20 times EBITDA due to fierce competition from other investors. A report by Bain & Co says the average multiple for European and U.S. buyout deals is around 11 times across all sectors. Asia Pacific represents around 16% of EQT's portfolio and former CEO Thomas von Koch, now its deputy managing partner, is set to move to Hong Kong to back the growth strategy for the region, which includes setting up an office in Australia. The Nordic region dominates EQT's holdings with 33% of its invested capital at the end of 2018, with the rest of Europe accounting for 25%, the Americas 20% and the rest of the world the remainder. Sinding also wants to invest in disruptive but not yet profitable start-ups in Europe, in a quest to find the next Spotify <SPOT.N> or Klarna, as well as in profitable private firms in need of capital such as Banking Circle. "We have a ventures fund and great buy-out funds but there is an interesting pocket in between," he said. (Graphic: European private equity fundraises in past decade - https://tmsnrt.rs/2FPrR1P) (Graphic: Swedish firm EQT's global footprint - https://tmsnrt.rs/2YvaBGq) (Graphic: EQT ups efforts to secure spot among PE majors - https://tmsnrt.rs/2FJZBh2) (For interactive versions of the graphics, click here https://tmsnrt.rs/2FJZAK0 and here https://tmsnrt.rs/2FPrODb.) 'MOST REPUTABLE' While U.S. giants Blackstone <BX.N>, KKR and Carlyle <CG.O> have gone public and become self-styled alternative asset managers, only a handful of PE funds are listed in Europe. Sinding ruled out any interest in diversifying EQT away from its core business of companies, infrastructure and credit. "We stick to investments that can add real value. Our aim is not to be the biggest private equity fund but rather the most reputable," he said. Unlike its biggest American and European competitors, EQT has flat organizational and fee structures, both staples of Nordic consensus-building business models, as well as an industrial approach where target firms are chosen because of their business model. Pressure to change EQT's set-up and become a publicly-traded company is partly driven by Investor AB <INVEb.ST>, the Wallenberg investment vehicle, looking to cut its exposure to EQT, bankers close to the IPO have said. Investor AB, which has 21.5 billion Swedish crowns invested in EQT through a 23% stake in EQT AB and investments in most of its funds, has annually made a 30% return and cash flows of 1 billion crowns-1.5 billion from the investments over 25 years. Sources said a dual listing in Stockholm and Zurich, which is home to EQT's second headquarters, is a possibility as the firm seeks to model itself after Zurich-listed Partners Group <PGHN.S>, which trades at 23.8 times earnings and has outperformed U.S. rivals in the last five years. "It is the only IPO in Sweden for which local investors are getting out of bed," a Stockholm-based banker said. (Reporting by Esha Vaish in Stockholm and Pamela Barbaglia in London; editing by Niklas Pollard and and Alexander Smith)
If you care about your impact on the planet, you should stop flying That return flight you took from New York to London probably seemed inconsequential, in the grand scheme of things. Six or seven hours each way, a few hundred dollars (maybe you paid in miles?), a few days of jet lag. A small price to pay to cross an ocean, see the sights, and then head back home again. But here’s another way of thinking about it. Your economy class seat on that one return flight put an extra 1.6 metric tons of carbon dioxide in the air—about as much taking a round-trip, 15-mile commute every day for a year in a fuel-efficient car. By some calculations, it cost the future world as much as $60 worth of damage, or was equivalent to a reduction in polar summer sea ice cover by roughly the area of a downstairs bathroom or office cubicle. Jeffrey Epstein’s fortune is built on fraud, a former mentor says The Dutch call it vliegschaamte ; in Swedish, it’s flygskam , the Germans say Flugscham . “Flight shame,” in literal English, is the sinking feeling of guilt you get when you realize your trip to Miami or Lisbon might be turfing a polar bear out of its home. The connection between our jet-setting lifestyles, and a planet going up in smoke, is getting harder for many people to ignore. Some Europeans are skipping flying altogether in favor of less harmful overland travel: buses, trains, cars. The Swedish national train company SJ last year reported a record 31.8 million customers (pdf), in a country of about 10 million people. Meanwhile, Dutch airline KLM is encouraging its passengers to “fly responsibly,” and consider bringing fewer bags, buying carbon offsets, or even opting out of flying altogether. But in countries such as the US, with more land to traverse and less reliable public transport connections, avoiding flying is a bit harder. Overland rail travel, where it exists, may be unreliable, expensive, and slow, while driving such long distances is often simply unfeasible. And though your accounting department might thank you for pushing for more remote meetings and fewer pointless flights, there are many professional and personal situations in which it simply isn’t feasible not to board a plane. (Cruise ships are even more environmentally damaging than planes, if you’re looking for other options.) So, what’s a traveller to do? Story continues Hong Kong’s protesters put AirDrop to ingenious use to breach China’s Firewall Should I stop flying? There is no quicker way to reduce your emissions than by not flying. Opting out of that return flight from New York to London, for instance, would reduce your emissions by significantly more than giving up beef for a year. By contrast, switching off the lights when you’re out of a room, or unplugging your phone charger when you aren’t using it barely even register. (One surefire way to limit your emissions is to opt out of having kids .) Moreover, choosing not to fly, and telling other people about your choice, lends climate action credibility, helping to encourage collective action , which in turn may lead to policy change. In lieu of stopping altogether, there are small changes that can help. Takeoff is the most fuel-intensive part of flying—if your lifestyle means a flying ban isn’t realistic, minimizing stopovers and flying directly will help. Opt for economy (or feel quietly superior about it, even if you had no real choice): a single US domestic round-trip flight in first class can contribute more greenhouse gas emissions than a whole year of driving, in terms of the carbon footprint of the seat. Try to vacation locally where you can, keep weekend trips to a minimum, or consider taking the train, despite the longer travel time. This table with data from the US Bureau of Transportation Statistics lays out the difference: Transport Average carbon dioxide emissions Fuel efficiency Bus 0.17 lbs/passenger mile 186.2 passenger miles/gallon Train 0.41 lbs/passenger mile 189.7 passenger miles/gallon Car 1.17 lbs/passenger mile 113 passenger miles/gallon Airplane 1.83 lbs/passenger mile 53.6 passenger miles/gallon You can take some small comfort in the fact that air travel is only a tiny part of the problem. Airplanes contribute about 2.5% to global emissions—and while that seems certain to soar as more people fly, it’s nothing compared to the effects of agriculture or the burning of coal, natural gas, and oil for electricity. Grounding every plane in the world would still only make a very small dent in our emissions targets, which is why it’s worth looking at much wider structural overhaul. That’s part of the reason why some people argue that, while we should all be doing our bit, individual lifestyle changes like not flying or deciding to not have children shouldn’t be the primary or even a significant part of the fight against climate chaos. “A fixation on voluntary action alone takes the pressure off of the push for governmental policies to hold corporate polluters accountable,” writes climate scientist Michael Mann . “In fact, one recent study suggests that the emphasis on smaller personal actions can actually undermine support for the substantive climate policies needed.” Taking a broader view, even the best possible personal actions have a negligible impact, and could even be politically harmful, Mann concludes. “This new obsession with personal action, though promoted by many with the best of intentions, plays into the hands of polluting interests by distracting us from the systemic changes that are needed.” Much more important than personal action, some might argue, is being committed to supporting politicians who put climate issues front and center, and who will make tough calls about putting high-emission industries on notice. (It also means being prepared to pay more taxes to support those goals, if necessary.) How about carbon offsets? If you haven’t come across them before, carbon offsets can seem like a magic get-out-of-jail-free card for travel fans. Before boarding, you simply pay for someone to perform an environment-friendly practice to “cancel out” your flight, such as supporting solar cooking and heating solutions in rural China, or renewable energy generation in Turkey, and the slate is wiped clean. “Through effective carbon offsetting, you’re preventing anyone from being harmed by your emissions in the first place,” argues philosopher Will MacAskill in his 2015 book Doing Good Better . “If you emit carbon dioxide throughout your life but effectively offset it at the same time, overall your life contributes nothing to climate change.” Unfortunately, the jury’s out on how true this actually is. There are hundreds of different carbon-offsetting schemes, whose quality vary tremendously. The offset is seldom perfect, and can almost never guarantee that carbon dioxide will be sequestered for the minimum century that it’s supposed to be. On a more practical note, it simply isn’t possible to “remove” the carbon that you released in the first place. Once again, the best option would be not flying at all—we keep alighting on more discoveries about the harm planes can do, which may mean even the most conservative estimates are still too optimistic. If you’re going to fly regardless, it’s still worth exploring your offsetting options. But, crucially, don’t use offsetting as a way to justify even more frequent flying, and do your research before you buy. Many airlines will give you the option to offset at the time of purchase; otherwise, consider carbon emission-reduction projects such as WWF’s Gold Standard , Germany’s Atmosfair , or the US-based Carbon Fund . You can also support Cool Earth , a world leader in preventing deforestation. The UN has its own scheme in the offing to take the onus off the consumer. CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) will start its pilot scheme in 2021, before a full roll-out in 2024. It aims to cap net emissions from international aviation at 2020 levels by forcing airlines to buy emission reductions or offsets to keep their impact in check. CORISA has the backing of the International Air Transport Association, and 78 countries have signed up so far, including the US, Australia, Canada, Saudi Arabia, Japan, the UK, and many EU countries. China, Brazil, and India have not taken the plunge. As the scheme currently only runs up to 2035, its effects may be limited. There are concerns, too, that low-qualify offsets may be used, or even “ double counted ,” according to analysis from the International Council on Clean Transportation ( ICCT ). Does this mean the end of flying, forever? In a best case scenario, CORSIA might freeze the carbon footprint of some airlines. But what it won’t do is shrink it. “Our next goal is even more critical—cutting net emissions to half 2005 levels by 2050,” said Alexandre de Juniac, IATA’s director general at the group’s annual meeting in June . “Airlines are investing in efficiency measures to achieve that—including new aircraft, better procedures and making forward buying commitments for sustainable aviation fuels. We will continue to make progress, but we need governments to be aligned in their policy actions.” In practice, de Juniac said, that means streamlining air traffic management and supporting “the commercialization of sustainable aviation fuel.” Biofuels are perhaps the best hope we have for a greener, less harmful flying future—though the technology is still a long way off, and many of the options identified so far, such as palm oil , are deeply unsustainable. Nordic countries in particular are backing research for it: Norway is aiming to have 30% of the fuel used by its aviation sector from alternative sources by 2030, while Sweden’s efforts to be entirely fossil-free by 2045 rely heavily on renewable fuels. The will might be there, but the technology is not. And when it finally arrives, it’s by no means certain that these biofuels will be as effective or as inexpensive as present fossil fuels. Now may be a good time to start thinking of flying as a luxury—something to be done yearly, or even less often. The planet will thank you for it. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Tip your delivery worker in cash, not via an app A “Go Back to Africa” media campaign uses AI to boost African American tourism
Is The LGL Group, Inc.'s (NYSEMKT:LGL) CEO Paid At A Competitive Rate? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In 2014 Michael Ferrantino was appointed CEO of The LGL Group, Inc. (NYSEMKT:LGL). This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. Next, we'll consider growth that the business demonstrates. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. This process should give us an idea about how appropriately the CEO is paid. View our latest analysis for LGL Group Our data indicates that The LGL Group, Inc. is worth US$39m, and total annual CEO compensation is US$574k. (This number is for the twelve months until December 2018). While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at US$216k. We took a group of companies with market capitalizations below US$200m, and calculated the median CEO total compensation to be US$465k. That means Michael Ferrantino receives fairly typical remuneration for the CEO of a company that size. While this data point isn't particularly informative alone, it gains more meaning when considered with business performance. The graphic below shows how CEO compensation at LGL Group has changed from year to year. Over the last three years The LGL Group, Inc. has grown its earnings per share (EPS) by an average of 98% per year (using a line of best fit). It achieved revenue growth of 12% over the last year. Overall this is a positive result for shareholders, showing that the company has improved in recent years. It's also good to see decent revenue growth in the last year, suggesting the business is healthy and growing. We don't have analyst forecasts, but shareholders might want to examinethis detailed historical graphof earnings, revenue and cash flow. I think that the total shareholder return of 145%, over three years, would leave most The LGL Group, Inc. shareholders smiling. This strong performance might mean some shareholders don't mind if the CEO were to be paid more than is normal for a company of its size. Remuneration for Michael Ferrantino is close enough to the median pay for a CEO of a similar sized company . Shareholders would surely be happy to see that shareholder returns have been great, and the earnings per share are up. So one could argue the CEO compensation is quite modest, if you consider company performance! So you may want tocheck if insiders are buying LGL Group shares with their own money (free access). Important note:LGL Group may not be the best stock to buy. You might find somethingbetterinthis list of interesting companies with high ROE and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Reinsurance hedge fund Tangency Capital raises further $165 mln LONDON, July 3 (Reuters) - Hedge fund Tangency Capital has raised a further $165 million to invest in the property reinsurance market, bringing its size to $265 million as the hurricane season gets under way, one of its co-founders told Reuters on Wednesday. Insured losses from natural catastrophes totalled more than $200 billion in the past two years, leading to a rise in reinsurance premiums. Reinsurers help insurers share the burden of large losses such as hurricanes, in return for part of the premium. Tangency Capital launched last year to invest directly in non-life reinsurance risks, and is benefiting from the rising rates, Dominik Hagedorn told Reuters by telephone. "The market environment now is actually quite attractive, we are seeing meaningful rate improvement." Reinsurance rates rose by up to 25% in Florida, an area affected by hurricanes, in the latest renewal round, broker Willis Re said this week. Investors have been attracted to funds that invest in catastrophe bonds and other insurance-linked securities as a way to gain exposure to the reinsurance market, which has higher returns than many asset classes. Catastrophe bonds, for example, offer a high coupon but do not pay out if a particular natural catastrophe occurs. Six insurance-linked hedge funds launched in 2018, though only one launched this year, according to data from Preqin. There were 227 hedge fund launches globally this year and 302 liquidations, Preqin said. Tangency gained investments from pension funds and family offices in the latest funding round, Hagedorn said. Tangency Capital has offices in London and Bermuda and was founded by Hagedorn, Michael Jedraszak and Kai Morgenstern. (Reporting by Carolyn Cohn; editing by David Evans)
7 Best Retirement Stocks to Buy and Hold Choose retirement stocks that protect your capital. Choosing stocks is a challenge. You're basing buy decisions on past data and future projections. While understanding a stock's past performance is easy, predicting the future, is not. Who would have thought that General Electric Co. (ticker: GE ) would struggle or that early cell phone giant Nokia would falter? Then there's IBM ( IBM ), founded in 1911 and still relevant today. Every company has its ups and downs as internal problems, economic conditions and consumer preferences wax and wane. If you're heading into retirement and hungry for a stable of buy-and-hold stocks, here are seven to get you started. Each of these retirement stocks hail from a distinct industry, improving portfolio diversification. Berkshire Hathaway Inc. ( BRK.B , BRK.A ) With Berkshire Hathaway you get the best of the best companies. " Warren Buffett and vice chairman Charlie Munger have assembled a terrific executive team and enduring culture that ensures Berkshire's success well beyond their lifetimes. Berkshire was once considered a vehicle to take advantage of Buffett's stock-picking prowess. But now it is a diversified portfolio of operating companies, largely concentrated in recession-proof, staid industries such as consumer products," says Robert Johnson, chairman and CEO of Economic Index Associates. Berkshire Hathaway enjoys owning many businesses that individually have wide moats, such as Geico and General Reinsurance Corp. BRK.B has a projected one-year price estimate of $241.67. Anheuser-Busch InBev ( BUD ) With a five-star Morningstar rating, this universal brand is the largest brewer in the world as well as one of the top consumer products company. Another wide-moat stock, BUD is in a recession-proof industry and enjoys an efficient operation. The company's growth is fostered by smart acquisitions of other large moat, efficient companies such as Grupo Modelo, Oriental Brewery and SABMiller. Adding to BUD's appeal, the company boasts near-monopoly status in several Latin American and African countries. BUD stock has a one-year target price of $94.31. To cushion any downward blips, the company has a current dividend yield of 2.3%, better than most savings accounts. Story continues Dominion Energy ( D ) Energy companies are revered for dependable, high-dividend payments. Dominion is developing conservation-related wide-moat initiatives designed to lower its carbon footprint. To that end, the company recently exited the exploration and production business and left no-moat merchant energy plants. The Virginia and North Carolina diversified energy company is well-run with an eye for the future. Morningstar analyst Charles Fishman says the wide-moat businesses will create about 50 percent of Dominion's operating earnings within four years. The balance will come from the gas and electric utilities. D stock has a projected one-year price of $78.93. Annual dividend increases averaged approximately 9% and the current 4.7% dividend yield affords retirees a comfortable income stream. Microsoft Corp. ( MSFT ) "Microsoft recently leapfrogged Apple ( AAPL ) as the most valuable U.S. company, after an impressive year in the market. The company is rapidly growing its cloud business, and it has its subscription-based Office 365, giving it an earnings stream that is recurring and consistent," says David Kass, a professor at the Robert H. Smith School of Business. Unlike its competitor Apple, MSFT isn't faced with the need to update product hardware. Its forward-looking growth prospects are good, with a decent dividend yield of 1.5%. MSFT stock has a one-year target estimate of $144.06. The share valuation is a bit high with a price-earnings ratio of 30.33, so investors might wait for a pullback before investing. HCP ( HCP ) HCP is a real estate investment trust stock that invests in health care properties. HCP was launched in 1985 and the first health care REIT added to the S&P 500. The firm owns medical offices, senior housing and life science buildings across the U.S. With America's aging population, the health care industry is poised to grow. REITs are required to pay out 90% of their profits to investors, making REITs ideal for investors seeking retirement stocks plus cash flow. HCP offers a 4.7% yield. There's not great upside potential this year, with a one-year price target of $32.79, but both real estate and health care hold up well during recessions. Imperial Brands (IMBBY) Founded in 1901, this U.K. tobacco products company offers a wide-competitive moat and a large global consumer market. U.S. consumers will recognize IMBBY's Winston and Kool cigarette brands. For those anti-smoking retirees, the company is also involved in non-tobacco products and services such as restaurants, pharmaceutical distribution, point-of-sale software and long-haul transportation. The current analysts project 16% growth, a turn around from prior difficult times. The stock offers a generous 6.8% dividend yield. The $66 one-year price estimate is more than double the current price. This Morningstar five-star stock is significantly undervalued, offering both capital appreciation and a healthy dividend payment. Apple ( APPL ) The Apple brand is known across the globe for a streamlined interface and status products. Apple charges premium prices for its impenetrable iOS system. But the company is dependent upon frequent product updates and consumers willing to pay up for these product tweaks. "Apple is a well-run growth company that has extraordinary profit margins at a reasonable valuation. It is further de-risked when you consider management's continued preference for buying back shares over pursuing untested and lower margin alternatives," says Jason Escamilla, CEO at Impact Labs. Apple sports a moderate P/E ratio of 17.03. Consensus analysts predict a one-year target price estimate of $212.03. Consider these stocks for your retirement portfolio. -- Berkshire Hathaway Inc. ( BRK.B , BRK.A ) -- Anheuser-Busch InBev ( BUD ) -- Dominion Energy ( D ) -- Microsoft Corp. ( MSFT ) -- HCP ( HCP ) -- Imperial Brands (IMBBY) -- Apple ( APPL ) More From US News & World Report 8 Mistakes That Can Wreck Your Buy-and-Hold Strategy 7 Reasons Buy and Hold Investing Beats Trend Trading 9 Beverage Stocks to Buy, Sell and Hold
How to Double Your Stock Returns for the Rest of 2019 The market is off to a spectacular start this year. And what a start it’s been. Already, the Dow is up 14.0%, the S&P is up 17.4%, and the Nasdaq is up 20.7%. But none of this should come as any surprise. Given the robust economy, and the best jobs market ever, you can see why 2019 is expected to be a banner year. So as an investor, you should be handily beating the market right now. And planning on crushing it this year. If not, now would be a good time to reflect on what you’re doing right in the market, what you’re doing wrong, and what you'd like to do better. This includes patting yourself on the back for your successes. Being honest with yourself for your failures. And setting big goals for what you'd like to accomplish. Like doubling your investment returns. (That’s right, double!) Think Big It takes no more mental energy to work on a big goal than it does to work on a small one. But the end results can be enormous. Most people set their sights on small ideas because they don't yet know how they'll achieve them. But in today's day and age, somebody has likely accomplished the very thing you've set out to do -- and left a roadmap on how to do it. That goes for the market too. Continued . . . ------------------------------------------------------------------------------------------------------ Just Released: Zacks' Top 4 Stocks for Q3 Four experts each announce their single favorite stock with the best upside for the quarter ahead. For example, one is a standout among 2,500 U.S. online dating services that just made a major acquisition. It has already penetrated 190 countries and is priming for a huge push in Asia. Today, Zacks members are invited to download the privateUltimate FourSpecial Report that names these stocks and spotlights why their gain potential is so exceptional. See Stocks Now >> ------------------------------------------------------------------------------------------------------ And the market looks poised for big things to come. With a strong economy, an accommodative Fed, record corporate earnings, one of the best jobs markets ever, and optimism that the U.S. and China are on the verge of a long-awaited trade agreement, it looks like stocks have a lot more upside to go. There’s also a phenomenal set of stats as a backdrop to suggest big gains are indeed on the way. We have the perfect 100% track record of the market going up the year after midterms. And that’s this year. And the recent yield curve inversion, which just happened a couple of months ago, typically sends the market sharply higher. In fact, looking at the last three inversions (1989, 1998, and 2006), the S&P soared afterwards with an average gain of 35%. So there’s a huge probability for a spectacular year this year. Do What Works So which stocks should move the most? Stick with tried and true methods that work to find the best ones. This is part of the roadmap to success. For example, did you know that stocks with a Zacks Rank #1 Strong Buy have beaten the market in 26 of the last 31 years with an average annual return of 25.1% per year? That's nearly 2.5 x the S&P. But when doing this year after year, that can add up to a lot more than just two and a half times the returns. And did you also know that stocks in the top 50% of Zacks Ranked Industries outperform those in the bottom 50% by a factor of 2 to 1? There's a reason why they say that half of a stock's price movement can be attributed to the group that it's in. Because it's true! Those two things will give any investor a huge probability of success and put you well on your way to achieving your goals. But you’re not there yet, as those two items alone will only narrow down a field of 10,000 stocks to the top 100 or so. Way too many to trade at once. So the next step is to get that list down to the best 5-10 stocks that you can buy. Proven Profitable Strategies Picking the best stocks is a lot easier when there’s a proven, profitable method to do it. And by concentrating on what has proven to work in the past, you’ll have a better idea as to what your probability of success will be now and in the future. For example, if your strategy did nothing but lose money year after year, trade after trade, over and over again, there’s no way you'd want to use that strategy to pick stocks with. Why? Because it's proven to pick bad stocks. On the other hand, if your strategy did great year after year, trade after trade, over and over again, you'd of course want to use that strategy to pick stocks with. Why? Because it's proven to pick winning stocks. Of course, this won't preclude you from ever having another losing trade. But if your stock picking strategy picks winners more often than losers, you can feel confident that your next trade will have a high probability of success. Stock Picking Secrets of the Pros One of the best ways to begin doubling your returns is to see what the pros are doing. There’s no one perfect way to beat the market. Some traders prefer high flying growth stocks, while others prefer deeply discounted value stocks. Some may prefer fast-paced momentum stocks, whereas others are more comfortable with mature, dividend producing income stocks. Yet others may want to focus on more specialized strategies like insider trading (the legal kind), institutional buying and selling, large-caps, small-caps, stocks about to surprise, or cheap stocks under $10. Still others may want to turn their attention to specific sectors or industries like healthcare innovators, biotech stocks, high-tech companies, or the burgeoning marijuana-related investment opportunities. Or even incorporate options into their portfolio. Regardless of which one fits your personal style of trade, just be sure you’re getting the best advice from experts who have demonstrated their ability to beat the market. The best part about these strategies is that all of the hard work is done for you. There’s no guesswork involved. Just follow the experts and start trading like a pro. Roadmap to Success As you can see, there’s a clear roadmap to success to help you achieve your goal of doubling your stock returns for the rest of 2019. No need to reinvent the wheel. The path has already been created. Now it’s just about doing it. And there’s never been a better time. These are historic times for the economy. And historic times for the market. And historic times bring historic opportunity. So make sure you’re taking full advantage of it. Where to Start Today I’m inviting you to consider 4 stocks hand-picked by our experts to have the greatest upside in this quarter. Download our just-releasedUltimate FourSpecial Report. Besides their exceptional growth potential, these 4 have strong fundamentals and are set to ride tailwinds of a power-charged economy, fantastic jobs market, and growing optimism for a U.S.-China trade accord. Stock #1:From 2,500 U.S. online dating services, this one stands out. Fresh from a major acquisition, it already penetrated 190 countries and is priming for a huge push in Asia. Stock #2:This tech company's breakout product is already being used in Apple, Samsung, and Google phones. Earnings and revenue are soaring and its stock price is likely to follow. Stock #3:No other public cybersecurity company is growing as fast. They have a stunning 90% retention rate and are flush with cash to invest in expanding operations. Stock #4:With this company's rock-solid fundamentals and continually rising earnings estimates, we expect a significant boom in its stock price. The time to get in is now. I suggest you beat other investors to the punch and download this Special Report now. Opportunity endsSunday, July 7. Look into these 4 elite stocks right now >> Thanks and good trading, Kevin Kevin Matras serves as Executive Vice President of Zacks.com and is responsible for all of its leading products for individual investors. He invites you todownload Zacks’ newly released Ultimate Four Special Report. 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 reportTo read this article on Zacks.com click here.Zacks Investment Research
Stocks close at record highs ahead of July 4th holiday U.S. stocks closed at record highs again and Treasury yields dropped on Wednesday, ahead of Thursday’s market close for Independence Day. The S&P 500 Index ( ^GSPC ) rose 0.77%, or 22.81 points, hitting a new record closing high of 2,995.82. The Dow Jones Industrial Average ( ^DJ I) rose 0.67%, or 179.32 points, closing at an all-time high of 26,966.0. The Nasdaq ( ^IXIC ) increased 0.75%, or 61.14 points, to 8,170.23, a new record closing high. Domestic equities have started July on strong footing, with the S&P 500 clinching a fifth consecutive session of gains Wednesday. The blue chip index closed at a record high for a third straight day . “New highs and the longest cycle of economic growth in our country’s history. We’ve seen continued doubt and worry over this bull market for a decade now, yet it continues to defy all skeptics,” Ryan Detrick, senior market strategist for LPL Financial, said in an email to Yahoo Finance. “The bottom line is the dual benefit of both fiscal and monetary policy should help extend this business cycle potentially much longer than many expect.” Meanwhile, global government bond yields declined as investors considered more dovish candidates for two of the world’s largest central banks. The U.S. 10-year Treasury yield ( ^TNX ) touched as low as 1.9378% Wednesday morning, reaching the lowest level since November 2016. On Tuesday, International Monetary Fund chief Christine Lagarde won a nomination to become president of the European Central Bank (ECB), with current ECB president Mario Draghi’s term sent to end Oct. 31. Draghi said last month that the ECB would be willing to roll out further stimulus in the event of more deterioration in the European Union economy. Meanwhile, President Donald Trump said Tuesday that he intended to nominate Christopher Waller, executive president of the Federal Reserve Bank of St. Louis, and Judy Shelton, U.S. director of the European Bank for Reconstruction and Development, to the Federal Reserve. Story continues Each nominee would still need to be confirmed by the U.S. Senate. Trump has been a vocal critic of the Fed for raising interest rates last year, and has suggested that the Fed cut key rates to match a more accommodative monetary policy tilt from other global central banks. U.S. equity markets closed early at 1 p.m. ET on Wednesday in observation of the July 4th holiday. Markets are closed Thursday for Independence Day. ‘Weakest data seen this year’ After Thursday, all eyes will be on the U.S. labor market . A hint of what may lie in store came on Wednesday, as new data showed that private sector employment rose by a less-than-expected 102,000 jobs in June, according to ADP/Moody’s monthly report released before the bell. This was an increase from an upwardly revised 41,000 additions in May, but below consensus expectations for 140,000 new private-sector positions for June, according to Bloomberg data. Large businesses headed gains, with firms with more than 500 employees adding 65,000 jobs in June. Small businesses with fewer than 50 employees lost 23,000 positions. By sector, goods-producing firms lost a total of 15,000 positions for the month, while service-providing companies added 117,000. “This is a signal of slowing, but certainly not stagnating economic growth,” Mike Loewengard, vice president of investment strategy for E-Trade Financial Corporation, wrote in an email. He noted ADP’s headline results Wednesday, while a rebound from last month, still represented “some of the weakest data seen so far this year.” “The markets are really looking to corroborate economic evidence for a rate cut, so today’s data could put some energy into this short trading day,” he said Wednesday morning. Meanwhile, data released Wednesday from the Department of Labor showed weekly unemployment claims fell more-than-anticipated to a seasonally adjusted 221,000 for the week ended June 29, versus 223,000 expected by consensus economists. The week prior’s initial unemployment claims were upwardly revised to 229,000. Continuing unemployment claims fell to 1.686 million for the week ended June 22, down 0.5% from the previous week. — Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck Read more from Emily: July 4th cookout costs have hardly budged this year Don’t say ‘IPO’: What to know about Slack’s direct listing Buffett on the American economy, capitalism: ‘It works’ Tech companies like Lyft want your money – not ‘your opinion’ Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and reddit . Read the latest financial and business news from Yahoo Finance
Does Universal Corporation's (NYSE:UVV) CEO Pay Compare Well With Peers? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! George Freeman has been the CEO of Universal Corporation (NYSE:UVV) since 2008. First, this article will compare CEO compensation with compensation at similar sized companies. After that, we will consider the growth in the business. And finally we will reflect on how common stockholders have fared in the last few years, as a secondary measure of performance. The aim of all this is to consider the appropriateness of CEO pay levels. See our latest analysis for Universal Our data indicates that Universal Corporation is worth US$1.5b, and total annual CEO compensation is US$3.7m. (This number is for the twelve months until March 2018). While we always look at total compensation first, we note that the salary component is less, at US$900k. As part of our analysis we looked at companies in the same jurisdiction, with market capitalizations of US$1.0b to US$3.2b. The median total CEO compensation was US$4.0m. So George Freeman receives a similar amount to the median CEO pay, amongst the companies we looked at. This doesn't tell us a whole lot on its own, but looking at the performance of the actual business will give us useful context. You can see, below, how CEO compensation at Universal has changed over time. Universal Corporation has increased its earnings per share (EPS) by an average of 5.1% a year, over the last three years (using a line of best fit). In the last year, its revenue is up 9.5%. I'd prefer higher revenue growth, but it is good to see modest EPS growth. Considering these factors I'd say performance has been pretty decent, though not amazing. We don't have analyst forecasts, but shareholders might want to examinethis detailed historical graphof earnings, revenue and cash flow. Universal Corporation has served shareholders reasonably well, with a total return of 22% over three years. But they would probably prefer not to see CEO compensation far in excess of the median. George Freeman is paid around the same as most CEOs of similar size companies. The company isn't showing particularly great growth, and shareholder turns haven't been particularly inspiring in the last few years. While there is room for improvement, we haven't seen evidence to suggest the pay is too generous. Shareholders may want tocheck for free if Universal insiders are buying or selling shares. Important note:Universal may not be the best stock to buy. You might find somethingbetterinthis list of interesting companies with high ROE and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Can LifeVantage Corporation's (NASDAQ:LFVN) ROE Continue To Surpass The Industry Average? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. To keep the lesson grounded in practicality, we'll use ROE to better understand LifeVantage Corporation (NASDAQ:LFVN). LifeVantage has a ROE of 26%, based on the last twelve months. Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.26. See our latest analysis for LifeVantage Theformula for return on equityis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for LifeVantage: 26% = US$6.5m ÷ US$25m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. It is the capital paid in by shareholders, plus any retained earnings. Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company. ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the amount earned after tax over the last twelve months. A higher profit will lead to a higher ROE. So, all else equal,investors should like a high ROE. That means ROE can be used to compare two businesses. Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. Pleasingly, LifeVantage has a superior ROE than the average (21%) company in the Personal Products industry. That's what I like to see. I usually take a closer look when a company has a better ROE than industry peers. For exampleyou might checkif insiders are buying shares. Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used. Although LifeVantage does use a little debt, its debt to equity ratio of just 0.078 is very low. The combination of modest debt and a very impressive ROE does suggest that the business is high quality. Judicious use of debt to improve returns can certainly be a good thing, although it does elevate risk slightly and reduce future optionality. Return on equity is one way we can compare the business quality of different companies. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE. But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. Check the past profit growth by LifeVantage by looking at thisvisualization of past earnings, revenue and cash flow. Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Baidu CEO Soaked by Stage-Invader During Keynote Speech (Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next. A routine keynote address by Baidu Inc. chief Robin Li morphed into a public humiliation when an unidentified man jumped onstage and doused him in water. The billionaire founder was 10 minutes into introducing an AI-powered valet parking service when a man in a black T-shirt upended a small bottle of water over his head. The Chinese internet tycoon froze in place for a few seconds, wiped his face, then plowed ahead with his speech as if nothing had happened. “What’s your problem?” Li said in English to the perpetrator, who was wearing an event pass. “As everyone has just seen, there will be a variety of unexpected happenings on the road to AI,” said the CEO, who was headlining a Baidu artificial intelligence developers’ forum in Beijing. It’s unclear who the prankster was. Li, who created China’s largest search service en route to a personal fortune estimated at $8.7 billion, wrapped up his speech in about 40 minutes before departing the stage. Li is considered among the country’s foremost tech pioneers, a captain of the domestic internet industry alongside the likes of Alibaba’s Jack Ma and Tencent’s Pony Ma. Baidu “strongly” condemned the act in a statement posted on Weibo, calling it “shameful” and “disturbing.” The man has been taken away by police for investigation. Baidu has weathered a plethora of troubles. In 2016, a university student died after pursuing a cancer treatment he’d found through Baidu’s search engine, fostering mistrust of the brand. China’s slowing economy is hitting the company because it’s heavily reliant on the competitive advertising market. It has also lost several key senior executives in past years. In May, it posted a loss for the first time since going public in 2005. The incident follows a number of similar occurrences around the world. In June, animal-rights activists rushed on stage at a conference in Las Vegas where Amazon.com Inc. Chief Executive Officer Jeff Bezos was being interviewed. A few days prior, a man snatched the microphone from California senator and presidential candidate Kamala Harris at a forum. (Updates with company’s statement in the fifth paragraph.) To contact Bloomberg News staff for this story: Gao Yuan in Beijing at [email protected];Colum Murphy in Hong Kong at [email protected] To contact the editors responsible for this story: Edwin Chan at [email protected], Peter Elstrom For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
Cannabis Stocks With Plenty Of Green Ahead The cannabis industry is booming. With broad legalization for medical use in the United States, and legalization for adult-recreational use in Canada, this emerging industry is creating incredible opportunities. While the industry is already booming, it’s also emerging, giving those that get involved now the ability to take the lion’s share of the market later. Compelling growth opportunities are leading to an incredible amount of investor interest. However,investing in cannabisis just like investing in any other emerging industry. Putting your money in the wrong place can lead to significant losses, while making strong investments now can make sizeable gains. In my view, the stocks below have strong potential for growth ahead. Canopy Growth Corporation(NYSE:CGC): A Clear Winner In Multiple MarketsRead around the web and you will see that 8 out of 10 times, Canopy Growth Corporation is in the top two, and for good reason. The company is thelargest in the cannabis space by market cap. The company is centered around growing, processing, and selling medical and recreational cannabis. The majority of the company’s business takes place in Canada, but its footprint on a global scale is growing quickly. Canopy Growth was also the first of the larger Canadian cannabis companies to make an entrance into the United States hemp market – a market that just opened up with the passing of the2018 Farm Bill. In fact, the company is currently in the process of building a large-scale production facility in New York, as it’s one of the first to receive a license in the state to produce products derived from hemp, including CBD. It’s also worth mentioning that Canopy is sitting on a ton of cash that came fromConstellation Brands, Inc.(NYSE:STZ). At the end of the last quarter, the company had over $3 billion in cash on hand. Moreover, last year, Constellation Brands increased its ownership stake in the company to 38%, piling on yet another $4 billion in cash. At the moment, Canopy and Constellation are working to develop cannabis-infused beverages. This is great news, as cannabis infusion into food and drink is expected to be approved in Canada by the end of 2019. As Canopy works to enter into the $22 billion CBD market, maintains its leadership in the cannabis market in Canada, and moves toward the cannabis market once legalized recreationally in the United States, the stock is becoming harder and harder to resist. Veritas Farms: Making Waves With Recent Kroger Co(NYSE:KR)AgreementVeritas Farmsis a relatively small company when discussing cannabis plays. While the stock only has a market cap of around $160 million, it is making waves in the CBD market. The company is addressing the big-box store opportunities early on, setting the foundation for a leadership role in the long run. In fact, Veritas Farms was the first publicly traded cannabis company to make an announcement that it had made its way onto the big-box scene. This announcement came viapress release on April 3, 2019. While the release was more about product packaging and labeling, the company also said that its products were featured at select CVS locations. More recently, Veritas Farms announced that it has reached anagreement with Kroger. Under the terms of the agreement, the company’s branded topical full-spectrum CBD products would be featured on shelves at 945 store locations within the Kroger family. The allure the company has among big-box stores is simple. Veritas Farms is one of the few companies that handles the entire process from seed to sale. It grows the hemp, extracts the CBD, manufactures the products, and sends them out to sale, giving it complete control over access to basic materials and quality of product being sold. Ultimately, this cuts down on the risk of production delays while delivering a strong product to the end consumer. With its foot in the door with multiple big box store brands, Veritas Farms is making the types of early moves that we see among long-term winners in emerging markets. The company is leaps and bounds ahead of most companies in the CBD sector and will likely continue to expand within a market that many believe will grow to be worth more than billion per year in the near term. GW Pharmaceuticals(NASDAQ:GWPH): Newly Approved Cannabis Drug Is A Big WinGW Pharmaceuticals is a company that operates on the medical side of cannabis. In fact, the company is the first to win approval from the FDA for a cannabis derived medication. That medication, known as Epidiolex, is indicated for the treatment of severe forms of epilepsy and was approved just last year. Nonetheless, chances are that the FDA approval won’t be the only good news surrounding the drug. In fact, management is expecting that a European advisory group will weigh in with an official recommendation on the treatment in the current quarter. According to data from clinical studies of the drug, Epidiolex has the potential to reduce seizures in patients with Lennox-Gastaut syndrome (LGS) and with Dravet Syndrome by 40% or more. Considering the FDA approval and the clinical data that supports it, a positive recommendation in Europe is highly likely, which could act as a value building catalyst. As the company moves into the commercialization stages of Epidiolex, the market potential here is incredible. In fact, Dravet syndrome and LGS are some of the hardest to treat forms of epilepsy and can cause 50 or more seizures per month. Unfortunately, many patients do not respond to current treatment options. As a result, there is a high unmet medical need for Epidiolex. The high demand can be seen in the sales of the drug in the United States. While the drug was only approved about 6 months ago, it’s already generating nine-figure revenue. In fact, in the first quarter of 2019, sales came in at $33.5 million. Moreover, demand in Europe could be higher. In the United States, it is estimated that only about 14,000 to 18,500 patients live with LGS. In Europe, it is estimated that there are between 23,000 and 31,000 patients living with the condition. And while Dravet Syndrome is particularly rare, the numbers in LGS suggest that demand in Europe could be far higher than demand in the United States, leading to explosive potential revenue growth. As such, this is a stock that all cannabis investors should be paying attention to. Aurora Cannabis Inc(NYSE:ACB): A Leader Making Big InvestmentsAurora Cannabis is another Cannadian cannabis giant. While the company already has a very strong market cap, sitting at nearly $8 billion, many (including analysts) argue that it is poised for strong growth ahead. There are a couple of reasons for this. With the legalization of adult use recreational cannabis in Canada, the biggest hurdle for the company was taken out of the way. Now, the company’s growing production capacity gives it a strong competitive advantage in its sector. In fact, the company is working on a massive expansion of its 92,000 square foot operation. Back in April of 2018, Aurora announced that it would be expanding its facility by adding a 1.1 million square foot greenhouse. While most cannabis producers in Canada have a strong focus on the recreational sector, Aurora Cannabis seems to be taking a different approach. The company is focused primarily on the medical side of the cannabis sector. While the medical side of the sector offers a smaller overall revenue opportunity, the company’s leadership and larger margins than seen in recreational cannabis make this a strong choice. All in all, Aurora Cannabis seems to have made the right moves at the right times to date and continues to do just that. As such, if you’re interested in the cannabis sector, this is one to watch. First Foods Group Inc: Moving Into CBD With A BangFirst Foods Group is a relatively small company, but they are entering the market with a big bang. The company is focused on the production of cannabis-infused chocolates, offering luxury products for both the CBD and the THC markets. Following along the same playbook that Veritas Farms has followed, the company has its sights set on the big-box store market. In my view, this is a crucial move. After all, big-box stores will only carry generally trusted products. As such, those that make their way into the big-box space early have the strongest potential to become industry leaders in the long run. The allure of the company’s products among big-box retailers is simple. First Foods Group only uses the highest quality materials in the production of their chocolates. As such, it offers one of very few luxury brands in the CBD and THC markets. It seems as though this focus on a luxury product is paying off. In fact, the company recently announced that it completed its first relatively large order. Moreover, it is expecting more orders to come in throughout the third quarter. All in all, while First Foods Group is a relatively small player, it is making some of the biggest early moves that we’ve seen across the CBD market. So, this is a stock that’s well worth paying attention to. The TakeawayThe takeaway here is a simple one. At the moment, the cannabis and CBD industry is an emerging one, offering the opportunity for those that make big moves early to become leaders in the long run. In my view, the stocks mentioned above have the most potential to produce significant growth ahead. The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited. Image Sourced From Pixabay See more from Benzinga • Business Insurance And The Switch To Digital Operations With SMEs • One Of Russia's Most Important Infrastructure Projects Is About To Be Completed • Lucrative Investments In Angolan Economic Sectors © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Top Research Reports for VMware, Schwab & HCA Healthcare Wednesday, July 3, 2019 The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including VMware (VMW), Schwab (SCHW) and HCA Healthcare (HCA). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can seeall oftoday’s research reports here >>> VMware’s shares have gained +21.9% year to date, underperforming the Zacks Software industry which is up +32.5% over the same period. The Zacks analyst thinks VMware is benefiting from robust demand for NSX, VeloCloud and vSAN product lines. The company’s dominance in the software-defined data center (SDDC) domain and an expanding customer base in cloud, driven by partnerships with the likes of IBM and AWS, are positives. Microsoft and VMware are also exploring initiatives to boost integration between VMware infrastructure and Azure. These partnerships are major growth drivers for the company in the long haul. Nevertheless, growth in license bookings has been muted for the last few quarters, owing to customer delays and macro-economic weakness in some key regions. Moreover, VMware’s margins are expected to remain under pressure due to heavy spending. Intensifying competition is also a concern. (You canread the full research report on VMware here >>>). Shares ofSchwabhave underperformed the Zacks Investment Brokers industry over the past six months, declining -5.3% vs. +4.4%. The company's earnings have surpassed expectations in each of the trailing four quarters. The Zacks analyst thinks the company remains well positioned to gain from higher interest rates, strong balance sheet and efforts to strengthen trading business. Moreover, the company’s initiatives to improve operating efficiency will go a long way to support profitability. Its steady capital deployment actions are commendable and will enhance shareholder value. However, continuously rising operating expenses (mainly related to compensation costs and regulatory charges) are likely to hurt bottom-line growth to some extent. Further, the company’s dependence on fee-based revenues remains a major concern, and this might hamper financials going forward. (You canread the full research report on Schwab here >>>). HCA Healthcare’s shares have outperformed the Zacks Hospital industry in the past year, gaining +30.1% vs. +14.4%. Moreover, it has witnessed its 2020 earnings estimates move north over the past 30 days. Its top line has been growing over the last several quarters on the back of higher admissions, same facility emergency room growth and surgical growth, etc. The Zacks analyst thinks multiple acquisitions have helped the company gain a strong foothold in the industry, fueling its inorganic growth. A strong balance sheet and free cash flow are other positives for the company. Bullish 2019 guidance should instill investor’s confidence in the stock. However, high operating expenses due to salaries and benefits and other costs are persistently weighing on margins. It is expected to witness a rise in costs due to constant growth-related investments. High leverage is another concern for the company. (You canread the full research report on HCA Healthcare here >>>). Other noteworthy reports we are featuring today include Constellation Brands (STZ), Cognizant (CTSH) and Hilton (HLT). The Hottest Tech Mega-Trend of All Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >> Mark VickerySenior Editor Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weeklyEarnings TrendsandEarnings Previewreports. If you want an email notification each time Sheraz publishes a new article, pleaseclick here>>> Portfolio Strength, Expanding Partner Base Aids VMware (VMW) Focus on Trading Revenues Aids Schwab (SCHW), Costs a Woe Rising Top-line, Inorganic Growth Aid HCA Healthcare (HCA) Constellation Brands' (STZ) Solid Beer Segment to Lift Sales Per the Zacks analyst, Constellation Brands' strength in beer business due to higher shipment volumes and depletions is driving the company's top line. Hilton (HLT) Rides on Unit Expansion Amid Stiff Competition Per the Zacks analyst, Hilton's relentless expansion strategy via year-over-year net unit growth is a major topline driver. However, a competitive industry remains a potential headwind. Loan Growth Aids Huntington (HBAN), Concentration Risk a Woe The Zacks analyst thinks an improving economy has helped Huntington witness growth in loan and deposits. However, significant concentration of commercial loans in the total portfolio is a worry. New Product Uptake, Favorable Market Trend Aid STERIS (STE) Per the Zacks analyst, STERIS should continue to exhibit organic growth on favorable underlying market trends along with new product and service offerings. Strategic global expansion is another plus. Rise in Assets Aid Cohen & Steers (CNS), Higher Costs a Woe The Zacks analyst believes that improving assets under management will continue to drive revenue growth for Cohen & Steers. Actuant (ATU) Gains from Industrial Tools, Faces Costs Woes Per the Zacks analyst, Actuant gains from strengthening Industrial Tools & Services segment. Strong Backlog & Acquisitions Aid Apogee (APOG), Costs Ail Per the Zacks analyst, Apogee is poised to benefit from solid bidding and order activity, acquisitions and capital expansion plans despite inflated costs. Domain Expertise, Accretive Buyouts Steer Cognizant (CTSH) Per the Zacks analyst, Cognizant is benefiting from domain expertise as well as its ability to harness the ongoing digital transition. Acquisitions are strengthening its digital capabilities. Cummins (CMI) Rides on Improved Demand & Innovative Products Per the Zacks analyst, Cummins gains from increased engine and component demand for heavy and medium-duty trucks in North America. Also, its innovative products and partnerships ensure high returns. New Mines & Higher Gold Prices Power Royal Gold (RGLD) Per the Zacks analyst, Royal Gold is benefiting from the ramping up of new mines, focus on acquisitions, strong balance sheet and higher gold prices. Rate Cuts, Dismal Capital Markets to Hurt State Street (STT) Per the Zacks analyst, the Federal Reserve's dovish stance on interest rates and disappointing capital markets performance owing to low volatility will hamper State Street's financials to some extent. Upstream Spending Slowdown to Weigh on Halliburton (HAL) The Zacks analyst is concerned that the conservative approach on capital expenditure from North American E&P operators will result in declining demand for Halliburton's services. US-China Trade War to Hurt MGM Resorts (MGM) Per the Zacks analysts, trade war between Beijing and Washington and flagging China property prices, which have adversely impacted the high-end VIP segment, are major concerns for MGM Resorts. undefinedundefinedVMware, Inc. (VMW) : Free Stock Analysis ReportConstellation Brands Inc (STZ) : Free Stock Analysis ReportThe Charles Schwab Corporation (SCHW) : Free Stock Analysis ReportHilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis ReportHCA Healthcare, Inc. (HCA) : Free Stock Analysis ReportCognizant Technology Solutions Corporation (CTSH) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Mice cured of HIV in gene breakthrough ‘with human trials within a year’ Is this the beginning of the end for HIV? (Getty) A breakthrough gene therapy has fully cured mice of HIV, the virus which causes AIDS, and human trials could follow within a year. The treatment is different to current HIV therapies, which rely on patients taking ART (antiretroviral therapy) pills for the whole of their lives. Mice had the virus eliminated from their cells using a revolutionary gene-editing tool, along with drugs which target ‘reservoirs’ of HIV in the body.. Senior investigator Professor Kamel Khalili, an AIDS expert at Temple University in Philadelphia, said: ‘Our study shows treatment to suppress HIV replication and gene editing therapy, when given sequentially, can eliminate HIV from cells and organs of infected animals.’ His team used a technique called CRISPR-Cas9 that can snip faulty DNA - which has been likened to a pair of 'molecular scissors'. It combines this with a recently developed therapeutic strategy known as LASER (long-acting slow-effective release) ART. Read More on Yahoo News Instagram Head Tells Gayle King The App Doesn't Record Conversations To Tailor Ads Facebook sues over sales of fake accounts, likes and followers It targets viral 'sanctuaries' - maintaining HIV replication at low levels for extended periods of time. This also reduces the frequency of treatments. The long-lasting medications were made possible by pharmacological changes in the chemical structure of antiretroviral drugs. HIV rebound is directly attributed to the ability of the virus to integrate its DNA sequence into the genomes of cells of the immune system, where it lies dormant and beyond the reach of antiretroviral drugs. In the study published in Nature Communications the modified drug was packaged into nanocrystals, which readily distribute to tissues where HIV is likely to be lying dormant. From there, the nanocrystals, stored within cells for weeks, slowly release the drug. Dr Khalili explained: 'We wanted to see whether LASER ART could suppress HIV replication long enough for CRISPR-Cas9 to completely rid cells of viral DNA.' Story continues 'The big message of this work is that it takes both CRISPR-Cas9 and virus suppression through a method such as LASER ART, administered together, to produce a cure for HIV infection. 'We now have a clear path to move ahead to trials in non-human primates and possibly clinical trials in human patients within the year.'
‘Hunger Games,’ ‘John Wick’ Entertainment Center in Times Square Scrapped Click here to read the full article. Plans have been scrapped for a Lionsgate branded indoor entertainment center for New York City’s Times Square with attractions built around “ The Hunger Games ,” “John Wick” and “Mad Men.” Dubbed Lionsgate Entertainment City, Lionsgate and Parques Reunidos unveiled the plan in 2017 as the first of several branded indoor entertainment centers that the two companies were planning for high traffic urban areas in major U.S. and European cities. The New York Post first reported that the project had been abandoned with Madrid-based Parques Reunidos leaving the partership. Lionsgate had no comment. Related stories Netflix Picks Up U.K.-Produced Supernatural Teen Thriller 'The A List' Mary J. Blige Inks First-Look TV Deal With Lionsgate Michael Fassbender to Produce, Star in Lionsgate Spy Thriller 'Malko' The Times Square location would have included a “Mad Men” themed dining-lounge experience, inspired by the show’s 1960’s décor. Other scrapped attractions include: a “ Hunger Games ” flying simulator attraction; the Dauntless Challenge Course, a Divergent themed obstacle course; the “John Wick: Chapter Two” shooting ride; a virtual reality motorcycle experience; a Lionsgate Café, the Hunger Games -inspired Peeta’s Bakery and The Capitol Confectionery, along with the first-ever Lionsgate Studio Store. Lionsgate continues to operate a global network of location based entertainment centers and live stage attractions to take advantage of its key franchises, including the Lionsgate Zone of the Motiongate theme park in Dubai, the Saw Escape Room in Las Vegas and the Hunger Gamez exhibition touring the world. It’s opening the Lionsgate Entertainment World vertical theme park in China on July 31 and the Lionsgate Movie World outdoor theme park on Jeju Island in South Korea next year. It’s also in the process of adapting “Wonder” and “Nashville” for the Broadway stage. Sign up for Variety’s Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
What You Must Know About Gladstone Land Corporation's (NASDAQ:LAND) Beta Value Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Anyone researching Gladstone Land Corporation (NASDAQ:LAND) might want to consider the historical volatility of the share price. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. The first type is company specific volatility. Investors use diversification across uncorrelated stocks to reduce this kind of price volatility across the portfolio. The second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. Beta is a widely used metric to measure a stock's exposure to market risk (volatility). Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. The first thing to understand about beta is that the beta of the overall market is one. A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price. Check out our latest analysis for Gladstone Land Zooming in on Gladstone Land, we see it has a five year beta of 0.90. This is below 1, so historically its share price has been rather independent from the market. This means that -- if history is a guide -- buying the stock would reduce the impact of overall market volatility in many portfolios (depending on the beta of the portfolio, of course). Many would argue that beta is useful in position sizing, but fundamental metrics such as revenue and earnings are more important overall. You can see Gladstone Land's revenue and earnings in the image below. Gladstone Land is a rather small company. It has a market capitalisation of US$236m, which means it is probably under the radar of most investors. Very small companies often have a low beta value because their share prices are not well correlated with market volatility. This could be because the price is reacting to company specific events. Alternatively, the shares may not be actively traded. The Gladstone Land doesn't usually show much sensitivity to the broader market. This could be for a variety of reasons. Typically, smaller companies have a low beta if their share price tends to move a lot due to company specific developments. Alternatively, an strong dividend payer might move less than the market because investors are valuing it for its income stream. In order to fully understand whether LAND is a good investment for you, we also need to consider important company-specific fundamentals such as Gladstone Land’s financial health and performance track record. I highly recommend you dive deeper by considering the following: 1. Future Outlook: What are well-informed industry analysts predicting for LAND’s future growth? Take a look at ourfree research report of analyst consensusfor LAND’s outlook. 2. Past Track Record: Has LAND been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of LAND's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how LAND measures up against other companies on valuation. You could start with thisfree list of prospective options. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
7 Retail Stocks to Buy That Are Down in 2019 If you own eitherNordstrom(NYSE:JWN) orGap(NYSE:GPS) stock, you wouldn’t have enjoyed readingCNN Businesscontributor Paul La Monica’sJune 28 article. La Monica informed his readers that these two retailers were the worst-performingS&P 500stocks through the first six months of 2019. They were not the stocks to buy in the first half of the year. The article goes on to highlight other brick-and-mortar retailers that struggled in the first half of the year due to poor sales and profits. InvestorPlace - Stock Market News, Stock Advice & Trading Tips How have the retail ETFs done so far in 2019 compared to the S&P 500? Not well. While the broad market S&P 500 ETFs were up almost 20% in the first half of the year, the top retail ETFs by assets under management (AUM) have generated betweenhalfand one-quarter the returns. However, just because a group of stocks has under-performed in one period doesn’t mean they will under-perform in another. • 10 Stocks That Should Be Every Young Investor's First Choice For those who believe retail stocks will make a comeback in the second half, here are the seven stocks to buy that are down, but not out. Source:m01229 via Flickr (Modified) As retail stocks go,Simon Property Group(NYSE:SPG) is faring much better in 2019, although it’s still down for the year. With retail stocks doing poorly, the focus falls on SPG and whether it can transform its malls into experiential palaces rather than moribund ghost towns where retailers go to die. However, as Greg Andrews of theIndianapolis Business Journalwroteabout the mall owner recently, SPG “racked up annualized total return of 14% a year, far better than the 9.6% posted by the S&P 500” since going public in 1993. It’s got staying power despite living through several market corrections as a publicly traded company. Plus, let’s not forget that SPG stock has gone sideways the last five years while the index has gone on a tear. For me, the creme always rises to the top. CEO David Simon has been busy putting together a better mix of tenants that resonate with shoppers. Andrews highlighted the fact that Simon is making about 27% more from rent when it replaces an under-performing tenant with a newer, more appropriate one for today’s changing retail climate. Despite the fact investors see brick-and-mortar retail doing poorly, Simon’s evolution of its real estate ensures that the future is brighter than most people think. As Mark Twain said, “Buy land. They’re not making it any more.” SPG is a long-term buy. Source: Shutterstock It’s been a mixed bag in 2019 for grocery store chains. Some are up while others, such asKroger(NYSE:KR), the nation’s largest publicly traded grocery store, are down. It seems investors continue to be worried aboutAmazon(NASDAQ:AMZN),Walmart(NYSE:WMT), and evenTarget(NYSE:TGT). They shouldn’t be. Despite Jeff Bezos claiming all kinds of changes would happen under Amazon’s leadership, little has changed at Whole Foods in the two years since Amazon acquired the high-end grocery store. In fact, if investors take a closer look at what Amazon has done with Whole Foods, they will realize that it’s not the great emancipator everyone says it is. “Food seems to be a category that keeps bedeviling Amazon. It said last week it will close its 4-year-old restaurant food delivery operation in the U.S., an admission that it had been outgunned by Grubhub, Doordash and Uber Eats,”wroteLos Angeles Times contributors Sarah Halzack and Shira Ovide on June 16. “It earlier pared back the footprint of its 12-year-old Amazon Fresh grocery-delivery service, which struggled long before Whole Foods was in its tent.” The fact is, Kroger’stransformationcontinues to deliver long-term benefits for the grocery store chain. These benefits include cost savings, real-time data analysis, alternative revenue streams, and higher online sales. In just five years, for example, it will have grown digital sales from nothing in 2014 to $5 billion in the coming year. • 7 F-Rated Stocks to Sell for Summer In five more years, I’m confident that Kroger will be a different company from the one you see today. From where I sit, that’s an excellent thing. Source:Hailey Pollard via Flickr The second quarter wasKohl’s(NYSE:KSS) worst quarter in the markets since 2001. You can now buy its stock for the same price you would have paid in November 2017. Yet, the retailer has more revenue and operating profits than it did two years ago. According to Miller Tabak equity strategist Matt Maley, the punishment dished out to KSS shareholders is overdone. “Its weekly RSI chart is quite oversold and that one could be due for a bounce, one that could last more than a couple of days,” MaleysaidJune 28 on CNBC. Kohl’s has been hit by weak sales so far in 2019. This has forced CEO Michelle Gass to lower its earnings per share guidance for the fiscal year from$5.98(midpoint of estimate) to $5.30, an 11% cut to the bottom line. However, now that KSS has rolled out Amazon’s return program nationwide and launched in-store initiatives, the outlook for the second half of the year is much brighter. The company has also become more adept at managing itsinventory levelsat lower-volume stores, helping it keep margins higher at locations that aren’t performing to its standard. It’s a big reason Kohl’s isshutteringOff/Aisle stores, the company’s off-price experiment. As I stated earlier this year, Irecommendedinvestors continue to watch how Kohl’s partnership with Amazon progresses. Now that it has gone nationwide, I see Kohl’s in-store revenues increasing as Amazon users return goods. The partnership has proven to be a winner. Soon, Kohl’s stockholders will reap the benefits. Source: Shutterstock Business Insideroften runs anarticlewhere a writer compares two different retail stores to gain a perspective as to why one stock is outperforming another. Recently, Shoshy Ciment shopped at bothUrban Outfitters(NASDAQ:URBN) andAmerican Eagle Outfitters(NYSE:AEO) stores in New York City. Ciment concluded that it was easy to see why American Eagle was dominating its segment of the retail sector. The Urban Outfitters store was in shambles while AEOs was a thing of beauty. While I get the Peter Lynch idea of seeing first hand how a business is operating, this exercise fails to consider several reasons why it might not be indicative of the entire picture. First, it’s possible that the Urban Outfitters store was in the middle of changing its floor layout, which led to the less-than-desirable optics. Secondly, it’s also possible that the URBN store was in-between managers. Retail has tremendous turnover, which often leads to terrible-looking stores while a team is understaffed. I could go on. The point is, you shouldn’t surmise that one unsightly store is indicative of a poorly-performing stock or company. The opposite also holds. While it’s true that AEO stock isn’t doing nearly as poorly as URBN stock in 2019, they’re both in the red year-to-date. Though AEO’s Aerie line is killing it, shareholders should be concerned that it still can’t deliver positive returns. That said, Urban Outfitters’ three brands: Urban Outfitters, Anthropologie, and Free People, have seen a slowdown of sales in recent quarters. • The 7 Top Small-Cap Stocks Of 2019 However, from a value perspective, if you back out the company’s$637 millionin cash and marketable securities (it has no debt), you get an enterprise value of almost $1.7 billion. In the trailing 12 months ended April 30, Urban Outfitters had $290 million in free cash flow, for an FCF yield of about 17%, putting it easily within the value category. These last three retail stocks to buy all come with significant warts, so do your due diligence before purchasing any of them. The recent hiring of Mel Tucker asGenesco(NYSE:GCO) CFO suggests to me that good things are just around the corner for the Nashville company. Tucker’s got extensiveexperiencein the retail industry, most recently serving as CFO at the iconic New York City department store, Century 21. Genesco is transforming into a footwear retailer. In December, it sold off its Lids stores for just$100 million. The sale allows CGO to focus on shoes and generate some cash it could reinvest in its Journeys business, which produced7%same-store sales in the first quarter ended May 4. That’s on top of 6% same-store sales growth in the same quarter a year earlier. In the first quarter, Journeys generated about 65% of Genesco’s overall revenue and a big chunk of its total operating profits. Overall, Geneco’s adjusted EPS was $0.33, almost 136% higher than a year earlier. As a result, it expects to generate EPS of $3.55 in fiscal 2019. At a current price of $41, GCO stock is trading at less than 12 times those earnings. With net cash of $83 million and free cash flow of almost $157 million, GCO stock is worth a closer look. Source: Shutterstock The crafts retailer is your typical private equity horror story. Michaels(NASDAQ:MIK) was taken private in 2006 for$6 billionbyBlackstone Group(NYSE:BX) andBain Capital(NYSE:BCSF). After weathering the financial crisis, it was finally ready to go public in 2012. Unfortunately, the CEO had a stroke and the IPO was postponed until June 2014 when it raised$473 millionselling shares to the public at $17 apiece. Trading at less than half its IPO price, MIK stock continues to struggle with internal and external issues, the most recent being investor concerns about the company’s debt. In May, Michaelsrefinanced$500 million of its 5.875% debt at 8%, a sign that investors are worried about how the U.S. tariffs will impact a company reliant on Chinese imports. Before Michaels was taken private, it had no debt and$452 millionin cash on the balance sheet. After the takeover, Michaels had$3.7 billionin debt and just $30 million in cash. The private equity owners used its sound financial standing to get almost $4 billion in loans to pay for its acquisition. At the end of the quarter Michaels had$2.7 billionin debt, $246 million in cash, and $5.2 million in annualized revenues. Why do I think you should buy it? • 7 Stocks to Buy for a Dovish Fed Someone will come along to take itprivate, slap a coat of paint on it, and take it public for a second time in less than a decade. Buckle(NYSE:BKE) was a darn good stock and decent retailer to boot before it went into the toilet. Buckle now has a market cap of just $811 million, well below where it was trading at its height in 2015. However, despite having negative same-store sales for the past four years, BKE continues to make money, which is what ultimately drives stock prices higher. Back in 2015, Buckle was generating sales per square foot of $459. Today it’s down to $334, or 37% lower. On the positive side, it has no debt, a working capital of $280 million, and has paid out $14.02 in regular and special dividends over the past five years. From a free cash flow perspective, Buckle’s got$110 millionfor an FCF yield of11.7%, also in value territory. If you’re looking to capture a little income and aren’t so concerned about capital appreciation, Buckle stock is a diamond in the rough. And who knows, it might figure out how to grow again. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. • 2 Toxic Pot Stocks You Should Avoid • 10 Stocks That Should Be Every Young Investor's First Choice • 5 IPO Stocks to Buy -- According to Wall Street Analysts • The Top 10 Best Sectors in the Market for 2019 The post7 Retail Stocks to Buy That Are Down in 2019appeared first onInvestorPlace.
Trump says US should start manipulating the dollar WASHINGTON (AP) — President Donald Trump on Wednesday accused China and Europe of playing a "big currency manipulation game." He said the United States should match that effort, a move that directly contradicts official U.S. policy not to manipulate the dollar's value to gain trade advantages. In a tweet, the president said if America doesn't act, the country will continue "being the dummies who sit back and politely watch as other countries continue to play their games — as they have for so many years." Trump's own Treasury Department in May found that no country meets the criteria of being labeled a currency manipulator, although the report did put China and eight other countries on a watch list. A country manipulates its currency when it drives down the value to make its exports cheaper and foreign imports more expensive. As a candidate in 2016, Trump repeatedly charged that China was manipulating its currency and as president he would immediately label China as a currency manipulator. However, after taking office, Trump's Treasury Department has issued five reports on the subject, required by law every six months. In each report it said no country met the criteria to be labeled a currency manipulator. Trump's tweet seemed to have no impact in currency markets, a situation that would likely change if Treasury Secretary Steven Mnuchin began threatening to use currency manipulation to drive down the dollar's value. The Treasury secretary has the job of commenting on the dollar's value and also implementing intervention to buy or sell dollars in currency markets to influence the dollar's value. U.S. administrations for decades have pledged in international communiques not to intervene in currency markets for the purpose of influencing trade flows. A weaker dollar would boost U.S. exports but could run the risk of causing foreign investors who are helping to finance the federal government's $22 trillion national debt to move their investments elsewhere to avoid the risk of currency depreciation lowering their returns.
Should You Be Tempted To Sell Kansas City Southern (NYSE:KSU) Because Of Its P/E Ratio? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll apply a basic P/E ratio analysis to Kansas City Southern's (NYSE:KSU), to help you decide if the stock is worth further research. Based on the last twelve months,Kansas City Southern's P/E ratio is 21.41. In other words, at today's prices, investors are paying $21.41 for every $1 in prior year profit. View our latest analysis for Kansas City Southern Theformula for P/Eis: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Kansas City Southern: P/E of 21.41 = $123.71 ÷ $5.78 (Based on the year to March 2019.) The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future. Generally speaking the rate of earnings growth has a profound impact on a company's P/E multiple. When earnings grow, the 'E' increases, over time. Therefore, even if you pay a high multiple of earnings now, that multiple will become lower in the future. And as that P/E ratio drops, the company will look cheap, unless its share price increases. Kansas City Southern shrunk earnings per share by 37% over the last year. But over the longer term (5 years) earnings per share have increased by 13%. The P/E ratio essentially measures market expectations of a company. As you can see below, Kansas City Southern has a higher P/E than the average company (16.8) in the transportation industry. Kansas City Southern's P/E tells us that market participants think the company will perform better than its industry peers, going forward. Shareholders are clearly optimistic, but the future is always uncertain. So investors should always consider the P/E ratio alongside other factors, such aswhether company directors have been buying shares. One drawback of using a P/E ratio is that it considers market capitalization, but not the balance sheet. In other words, it does not consider any debt or cash that the company may have on the balance sheet. The exact same company would hypothetically deserve a higher P/E ratio if it had a strong balance sheet, than if it had a weak one with lots of debt, because a cashed up company can spend on growth. Such expenditure might be good or bad, in the long term, but the point here is that the balance sheet is not reflected by this ratio. Kansas City Southern's net debt is 21% of its market cap. This could bring some additional risk, and reduce the number of investment options for management; worth remembering if you compare its P/E to businesses without debt. Kansas City Southern has a P/E of 21.4. That's higher than the average in the US market, which is 18.2. With some debt but no EPS growth last year, the market has high expectations of future profits. When the market is wrong about a stock, it gives savvy investors an opportunity. If the reality for a company is better than it expects, you can make money by buying and holding for the long term. So thisfreevisualization of the analyst consensus on future earningscould help you make theright decisionabout whether to buy, sell, or hold. But note:Kansas City Southern may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with strong recent earnings growth (and a P/E ratio below 20). We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Las Vegas Sands (NYSE:LVS) Shareholders Booked A 42% Gain In The Last Three Years Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Thanks in no small measure to Vanguard founder Jack Bogle, it's easy buy a low cost index fund, which should provide the average market return. But if you pick the right individual stocks, you could make more than that. Notably, theLas Vegas Sands Corp.(NYSE:LVS) share price has gained 42% in three years, which is better than the average market return. In contrast, the stock is actually down 13% in the last year, suggesting a lack of positive momentum. View our latest analysis for Las Vegas Sands While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. Over the last three years, Las Vegas Sands failed to grow earnings per share, which fell 4.1% (annualized). Based on these numbers, we think that the decline in earnings per share may not be a good representation of how the business has changed over the years. So other metrics may hold the key to understanding what is influencing investors. We note that the dividend is higher than it was preciously, so that may have assisted the share price. Sometimes yield-chasing investors will flock to a company if they think the dividend can grow over time. The revenue growth of about 8.5% per year might also encourage buyers. The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail). We like that insiders have been buying shares in the last twelve months. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. If you are thinking of buying or selling Las Vegas Sands stock, you should check out thisfreereport showing analyst profit forecasts. When looking at investment returns, it is important to consider the difference betweentotal shareholder return(TSR) andshare price return. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Las Vegas Sands the TSR over the last 3 years was 64%, which is better than the share price return mentioned above. This is largely a result of its dividend payments! While the broader market gained around 8.7% in the last year, Las Vegas Sands shareholders lost 8.4% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 0.5%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. It is all well and good that insiders have been buying shares, but we suggest youcheck here to see what price insiders were buying at. If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Why Kellogg Stock Popped 6% Today Shares ofKellogg(NYSE: K)are on fire today, up some 6.3% as of 12:30 p.m. EDT. You can thankBarron'sfor that. This morning, the business journal published an article with the headlineKellogg Is Sitting on a 'Fake Meat' Gold Mine Bigger Than Beyond Meat, favorably comparing Kellogg's MorningStar Farms tothe famously successful recent IPO. In so doing,Barron'sreminded investors that for all the successBeyond Meat(NASDAQ: BYND)has enjoyed, Kellogg's MorningStar Farms is actually still the largest meat-substitute operation in the country, and has a roughly 50-year head start on Beyond Meat in this market. Proceeding to offer a subjective opinion,Barron'sdeclared MorningStar's Grillers vegetarian burger "way better" than Beyond Meat's Beyond Burger. Predictably, investors rushed to buy Kellogg stock. This is a real burger, but which burger substitute is the real deal? Image source: Getty Images. And yet,Barron'smay have missed the point for investors -- kind of a grave error for a business magazine -- in that it failed to note that while Beyond Meat's sales are skyrocketing, Kellogg's aren't. Working some numbers on the back of a proverbial napkin,Barron'scalculated that Kellogg may be selling as much as $450 million worth of vegetable-based meat substitutes annually, or twice Beyond Meat's sales. But assuming that's true, MorningStar products still only account for about 3.3% of annual revenue at Kellogg, a small sliver of the company's $13.5 billion in annual sales -- which grew only 5.5% last year. In contrast, Beyond Meat -- a pure play on vegetable-based protein -- grew its salesby triple digits last quarter. At that rate, it could be less than a year before it eclipses MorningStar in total sales, removing much of the reason for Barron's enthusiasm about Kellogg stock. If that's the way things play out, I wouldn't expect today's rally to last. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Rich Smithhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Amazon can be held liable for third-party seller products: U.S. appeals court By Brendan Pierson (Reuters) - A federal appeals court on Wednesday ruled against Amazon.com Inc <AMZN.O> in a case that could expose the online retailer to lawsuits from customers who buy defective products from third-party vendors through its website. Numerous other courts, including two federal appeals courts, have held that Amazon cannot be held liable as a seller of products from third-party vendors. The new ruling from the 3rd U.S. Circuit Court of Appeals in Philadelphia, which reversed a lower court decision, appeared to be the first to buck that trend. Amazon did not immediately respond to a request for comment. In addition to selling its own inventory, Amazon allows third-party vendors to list products for sale on its website. Such vendors may store their products in Amazon's warehouses or ship them directly to customers. Amazon earned about $11 billion in revenue from services it provided to third-party sellers for the quarter ended in March. About half of the items sold on Amazon are from third-party companies, database firm Statista reported. Liability for defective products is generally governed by state law, and Wednesday's decision is based on the laws of Pennsylvania, where the customer, Heather Oberdorf, lives. "It's gratifying that the 3rd Circuit agreed with our argument and recognized that the existing interpretation of product liability law in Pennsylvania was not addressing the reality, the dominance that Amazon has in the marketplace," said David Wilk, Oberdorf's lawyer. Oberdorf sued Amazon in 2016 in a federal court in Pennsylvania, saying she was blinded in one eye when a retractable dog leash she bought through the company's website from a third-party vendor snapped and recoiled, hitting her in the face. The Furry Gang shipped the leash directly to Oberdorf from Nevada. Neither Oberdorf nor Amazon has been able to locate any representative of the Furry Gang, which has not been active on Amazon's site since 2016, according to court papers. Story continues In Wednesday's opinion, Circuit Judge Jane Richards Roth, writing for a 2-1 majority of a three-judge panel, said Amazon may be liable in part because its business model "enables third-party vendors to conceal themselves from the customer, leaving customers injured by defective products with no direct recourse to the third-party vendor." The panel sent the case back to the lower court, which will have to decide whether the leash was actually defective. (Reporting by Brendan Pierson in New York; Editing by Matthew Lewis)
Poland Is Holding Massive Pride Parades. But How Far Have LGBTQ Rights Really Come? The biggest pride event in Central and Eastern Europe brought more people than ever to the streets in the Polish capital of Warsaw on June 8. Tens of thousands of people marched, danced and sang waving colorful flags and umbrellas. Back in 2005, gay rights activists had to fight to march in Warsaw. Pride events were officially banned in 2004 and 2005 by then mayor Lech Kaczynski , who later became President. What started as hundreds of people marching in defiance of the mayor, grew to nearly 50,000 marching in June alongside the new mayor, who was elected in 2018. In June, Rafal Trzaskowski became the first mayor to take part and speak to crowds from a parade float in Warsaw, which is Poland’s largest city with a population of 1.76 million people. And in at least 20 cities across Poland from June 29 to July 6, Equality Parades have taken place, including in the western city of Poznan , with more people than ever taking part. But as support for LGBTQ rights has grown, so too has the backlash. Ahead of European Parliament elections in May, Poland’s right-wing ruling Law and Justice party (PiS), ramped up its opposition to the LGBTQ community, calling it a “direct attack” on family values. PiS, which has been in power since 2015, warned that if the opposition prevailed in the European Parliament elections, so would the LGBTQ “attack” on society (PiS eventually scored a victory in the May elections). Jacek Kucharczyk, President of Poland’s leading think tank, the Institute of Public Affairs tells TIME he expects anti-LGBTQ rhetoric to increase ahead of national elections this fall. What challenges do LGBT citizens face in Poland? Poland, home to some 38 million people, is one of Europe’s most Catholic countries, with about 86 percent of the population identifying as Roman Catholic. It ranks 27 out of 28 European Union states when it comes to equality and non-discrimination, according to Rainbow Europe , an organization linked to the International Lesbian, Gay, Bisexual, Trans and Intersex Association. Story continues Same-sex marriage, still illegal in Poland, is legal in 27 EU countries. Anti-gay attacks are not considered a hate crime by law. In 2016, parliament rejected a bill that would have included gender, gender identity, sexual orientation, disability, and age as potential grounds for a “hate crime.” Kucharczyk from the Institute of Public Affairs says there’s a “refusal to recognise that LGBT people need to be protected. This group is systematically excluded. Hate crimes against sexual minorities are not reported because police aren’t required to report it.” According to the Campaign Against Homophobia , 12 percent of people who don’t identify as heterosexual are victims of physical violence in Poland, while around ninety percent of incidents go unreported, according to the 2016 survey . Nevertheless, “attitudes towards the LGBT community have come a long way” says Robert Biedron, who became Poland’s first openly gay and atheistic politician when he came out in 2011. Biedron, 42, served as mayor of the northern town of Slupsk until 2018. He cites the rising number of pride demonstrators and the fact that he now endures far fewer anti-gay insults from politicians and the media. “It’s a big change compared to a few years ago,” he says. In February Biedron founded a pro EU political party, which has vaulted into third place in a public opinion poll , potentially threatening the ruling party’s prospects for winning the general election. People are seen taking part in the March for Life and Family in Warsaw, Poland on June 9, 2019. Several thousand people took part in the march that was meant to counter the gay pride march of the previous day. \| Jaap Arriens—NurPhoto via Getty Images) Why are Poland’s populists targeting LGBT rights? Opposition to LGBTQ rights became a cornerstone of PiS’s campaign after Warsaw Mayor Trzaskowski, who belongs to opposition party Civic Platform, signed a declaration in February that promised an LGBT+ hostel and community centre, a local crisis intervention system, and access to anti-discrimination and sex education in schools along World Health Orgnization (WHO) guidelines. Shortly after the mayor signed the declaration, PiS leader Jaroslaw Kaczynski responded, calling LGBT rights an “import” that threatens the very continuation of the Polish state. A number of town councillors announced their decision to make their municipalities “LGBT free” , calling Warsaw’s declaration “against good moral values” . Mirosława Makuchowska, from the Campaign Against Homophobia, says while such announcements are not legally binding, they send a “disturbing message” to the population. Others have noted the desire to get political mileage out of an inflammatory issue. Biedron, Poland’s first openly gay politician, says PiS are “looking for a scapegoat and are exploiting people’s sense of security. They’re trying to turn public attention away from the real problems to the imaginary problems.” Makuchowska says she sees parallels with the party’s 2015 campaign, when it deployed anti-immigrant rhetoric. “Now they’ve picked a new theme,” she says. While PiS’s popularity has slightly declined in the past year, it’s still the most popular party amid robust economic growth, low unemployment and large social benefits. Nevertheless, there are very real problems. “The party is worried about losing its legitimacy at home due to a series of recent scandals” says Kucharczyk, the think-tank analyst. Local media has accused the party of running a murky real estate business, as well as corruption at the financial market regulatory authority, charges PiS denies. How has Polish media influenced anti-gay rhetoric? Anti-LGBT rhetoric is not only seen in politics; it’s increasingly used in Polish media. As Biedron puts it, “Polish people have long been surrounded by information saying that homosexuality is a disease that can cause brain damage.” A 2017 report by the Centre for Research on Prejudice of the University of Warsaw found that since PiS entered government in 2015, Polish population’s exposure to hate speech in the media, including against gay people, has increased by 25%. The report states that hate speech is “particularly dangerous for youth,” who were found to use hate speech most often and whose “sensitivity to homophobic statements” decreased. More than 40% of young people said they had used hate speech against gay people and refugees. On the eve of the Warsaw’s pride parade, a television presenter, Rafal Ziemkiewicz, an author and journalist tweeted “one must shoot at LGBT” people, before adding “not in the literal sense of course — but these are not people of good will or defenders of anybody’s rights, [the movement is] a new mutation of Bolsheviks and Nazis.” Robert Biedron, a Polish politician, at a press conference on March 3, 2019 in Rzeszow, Podkarpackie Province, Poland. \| Artur Widak/NurPhoto — Getty Images Are any other European governments becoming increasingly anti-LGBTQ? Poland’s anti-LGBT+ rhetoric chimes with other conservative populists, including Hungary’s Prime Minister Viktor Orban . His Fidesz party has advocated the defense of traditional family values against the rise of dangerous and imported values — including LGBT rights — that threaten the country’s Christian roots. One member of Budapest Pride, which organizes pride events, Viktória Radványi, tells TIME that “in spite of the growing number of people joining equality marches, homophobia in the government and the press has increased over the past few months.” During a Budapest forum on May 15 as part of the European elections campaign, a Fidesz member and Chair of the National Assembly Laszlo Kover , said there was “no moral difference” between pedophiles and gay couples adopting children. Fabrice Houdart , Human Rights Officer at the United Nations told the Economis t that “increasingly LGBT people are used as pawns for political gain around issues of family and tradition.” He added that the “widening gap” between the quality of the lives of LGBT people in more tolerant places and in the rest of the world is not sustainable. “LGBT people everywhere know that they deserve the same opportunities and the same level of dignity as everyone else,” he said. What’s the future of LGBTQ rights in Poland? Biedron, who suffered four anti-gay physical assaults when he served as a Member of Parliament from 2011 to 2014, says “the distance between hate speech and hate crime is small.” He believes the best way to counteract anti-gay sentiment is to “explain to the public that who we’re talking about when we talk about LGBT people.” But with the PiS’s opposition to implementing education programs, young people will continue to have limited access to information related to LGBTQ people. While Biedron says that anti-LGBTQ rhetoric is likely to only intensify ahead of national elections in the fall, he’s hopeful that civil society can fight back. “Even if you have politicians, full of hate and stereotypes, scapegoating LGBTQ people, it’s clear that part of society is not buying this story.” Fifteen years ago, he says, it was “unimaginable” that Warsaw, Poland’s most “progressive city,” would host a pride march — let alone in other cities. “More people are brave enough to go on the streets and demand equal rights” says Biedron, “and this is the hope for Poland.”
Nasdaq Today: M&A Heats Up as Nasdaq Flirts With New Highs Given that the U.S. stock market was only open until 1 p.m. ET on Wednesday, it’s no surprise that volumes were light. And given that stocks are hovering at or near all-time highs, it’s no wonder that bulls used this light-volume session to notch more gains. Tech tacked on a 0.75% gain for theNasdaqtoday, which is oh-so-close to new highs, while theS&P 500also rose 0.68% to more new highs. Source: Shutterstock However, it puts us in a precarious situation heading into the end of the week. The stock market will be closed on Thursday for the Fourth of July and reopen for a regular trading session on Friday. But, it’s not just a regular Friday, with the June labor report scheduled for an 8:30 a.m. ET release. Economists expect 160,000 jobs to be added to the economy and a beat would usually be good news. In this case though, a beat could drive investors to the conclusion that the Fed will not raise rates later this month. A miss will almost surely trigger bulls to buy stocks on the premise that the Fed will certainly cut rates. After all,the market is pricing it in. It’s more of a “how much” will the cut be, rather thanwillthe Fed actually do it. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Justified or not, that’s our current market. The big news is thatBroadcom(NASDAQ:AVGO) is apparently in the middle of trying to acquireSymantec(NASDAQ:SYMC). These reports have thrust shares of SYMC higher, surging more than 13% on the day and past the key $25 level. Shares of Broadcom fell more than 4% on the report,as shares now teeter on a key level. • 10 Stocks That Should Be Every Young Investor's First Choice In any regard, the deal emphasizes a few things. The first, Broadcom is continuing its M&A strategy. Before news broke, shares of SYMC were trading at less than 13 times current earnings, giving it a nice, low valuation for AVGO. Symantec sports high-single-digit earnings growth expectations this year and next, and generates solid cash flow. The deal also emphasizes Broadcom’s focus on shifting to software and services, relying less and less on hardware. Speaking on the deal, analyst Dan Ives said, “If Broadcom goes down this route we believe there are some significant synergies and cost cutting on the enterprise side, coupled with a cash cow machine on the consumer front.” Analysts from Piper Jaffray and Bernstein also felt good about the deal, so maybe AVGO will be due for a bounce once investors digest the news. The other big news?Tesla’s(NASDAQ:TSLA)big delivery report. Last quarter, the company delivered about 63,000 vehicles. The big shortfall crimped profits and squeezed cash flow. Management pegged logistic headaches as the main issue and said it would deliver between 90,000 and 100,000 vehicle in the second quarter. Consensus expectations were looking for anything between 88,000 and 90,700. The final tally? 95,200 deliveries. It sent shares higher by 7% in early trading, which faded to a gain of “just” 4.6%. Part of that fade may be because the company’s press release did not comment on full-year guidance or when it would get back to profitability and positive cash flow. The news also pushedNio(NASDAQ:NIO) stock higher, which ripped 11%. That’s not completely surprisingly, aswe mapped out this recently strong name just the other day. There weren’t many losers in the Nasdaq today, but we saw some strong winners. Starbucks(NASDAQ:SBUX) remains one of the strongest names out there. Shares didn’t flinch in the fourth quarter and have continued to move higher in 10 of the last 12 months. The stock is up 36% so far in 2019 and is up over 78% over the past 12 months. What a beast. Ever sinceFacebook(NASDAQ:FB) announced its Libra cryptocurrency plans, shares have been on fire. Of course, it helps that bitcoin has been pretty hot too. Still, shares are less than $1 away from taking out the April highs, which could ignite a rally to fill the gap back up toward $215. Netflix(NASDAQ:NFLX) is also flirting with a move higher. Not all of FANG has been strong, but NFLX is trying to do its part, with a potential move over $380 resistance. It helps that the Nasdaq is adding to its gains over the past few sessions. The index’s highs are now on the table as it maintains above the key 8,100 level. • 10 Stocks That Should Be Every Young Investor's First Choice Let’s see where the jobs report leaves us. Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell. As of this writing, Bret Kenwell is long AVGO and SBUX. • 2 Toxic Pot Stocks You Should Avoid • 10 Stocks That Should Be Every Young Investor's First Choice • 5 IPO Stocks to Buy -- According to Wall Street Analysts • The Top 10 Best Sectors in the Market for 2019 The postNasdaq Today: M&A Heats Up as Nasdaq Flirts With New Highsappeared first onInvestorPlace.
20-year-old man pronounced dead by doctors wakes up at his own funeral A 20-year-old Indian man stunned his grieving friends and family members when he woke up at his own funeral, local media has reported. Mohammad Furqan, of Lucknow, a city in northern India's state of Uttar Pradesh, was admitted to a private hospital on June 21 after he was knocked unconscious in a serious accident, according to theIndependent. The patient was declared dead Monday after his family allegedly informed hospital staff they could not afford to pay more than $10,000 of his multiplying medical bills. That same day, Furqan's body was returned home to his family members, who were in the process of burying their loved one when the unthinkable happened. "Devastated, we were preparing for the burial when some of us saw movement in his limbs," Furqan's older brother, Mohammad Irfan, told theHindustan Times. "We immediately took Furqan to the Ram Manohar Lohia hospital where the doctors said he was alive and have put him on ventilator support." Furqan remains in critical condition but is "definitely not brain dead," according to doctors treating the patient. "He has pulse, blood pressure and his reflexes are working. He has been put on ventilator support." Lucknow Chief Medical Officer Narendra Agarwal acknowledged the incident and said the matter "will be thoroughly probed." Getting buried alive in the United States and Canada, however, verges on impossible these days, partly due to modern embalming practices. Yet, in one disturbing 2001 incident, a 39-year-old womanwoke up in a body bagat a funeral home in Ashland, Mass., due to the misjudgment of EMTs, who found her slumped over in her bathtub following a suicide attempt and brought her to a funeral home instead of a hospital. Thankfully, in that case, the home's director noticed that the woman was breathing and called paramedics, thereby avoiding her premature burial.
Rami Malek Only Agreed to Play Bond Villain Once He Knew Character Wasn't Motivated by Religion Rami Malek had a few important conditions in mind when he agreed to play the villain in the upcoming James Bond 25 . The Oscar-winning actor seemed to know his character would be some sort of terrorist, but for Malek, who was born to Egyptian immigrant parents, it was imperative his evil ways were not linked to a certain religion or ideology. “It’s a great character and I’m very excited. But that was one thing I discussed with [ director Cary Fukunaga ],” Malek, 38, told the Daily Mirror . “I said, ‘We cannot identify him with any act of terrorism reflecting an ideology or a religion. That’s not something I would entertain, so if that is why I am your choice then you can count me out.” Luckily for Malek, Fukunaga had something entirely different in mind, allowing the actor to take the role with no qualms. “That was clearly not his vision. So he’s a very different kind of terrorist,” he said. “It’s another extremely clever script from the people who have figured out exactly what people want in those movies. But I feel a substantial weight on my shoulders. I mean, Bond is something that we all grow up with.” RELATED VIDEO: Daniel Craig Says Women Should ‘Be Considered’ for James Bond Role According to the film’s official plot summary, Malek’s character is “a mysterious villain armed with dangerous new technology.” The Bohemian Rhapsody star was born in Los Angeles to parents who had recently immigrated from Cairo, and has said his Egyptian heritage and culture make up “the fabric of who I am.” RELATED: He’s Back! Daniel Craig Films James Bond in London After Injuring His Ankle “There’s no first-generation or second-generation removed. I am Egyptian,” he told the Mirror . “I feel so gorgeously tied to the culture and the human beings that exist there. I am very proud of where my family and I come from.” Malek confirmed he’d be playing the villain in the as-yet-untitled 25th Bond movie in April with a video shared to the franchise’s official Twitter account. Story continues A word about #BOND25 from Rami Malek pic.twitter.com/CLJ5mpO9mu — James Bond (@007) April 25, 2019 “I promise you all that I will be making sure Mr. Bond does not have an easy ride of it in this, his 25th outing,” the actor said in the clip. He’s set to play opposite Daniel Craig , who is returning as the suave spy in what is rumored to be his final time. Daniel Craig \| Splash News Online Filming kicked off in March, though Craig underwent minor ankle surgery in May after injuring himself while filming in Jamaica. RELATED: Rami Malek Confirmed as Bond 25 Villain Opposite Daniel Craig, Full Cast Revealed He was spotted last weekend filming scenes in London. The movie is set to hit theaters in April 2020.
What Kind Of Shareholders Own Novavax, Inc. (NASDAQ:NVAX)? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The big shareholder groups in Novavax, Inc. (NASDAQ:NVAX) have power over the company. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Companies that used to be publicly owned tend to have lower insider ownership. With a market capitalization of US$133m, Novavax is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about NVAX. View our latest analysis for Novavax 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. We can see that Novavax does have institutional investors; and they hold 30% of the stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone, since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Novavax's earnings history, below. Of course, the future is what really matters. Hedge funds don't have many shares in Novavax. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. 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. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our information suggests that Novavax, Inc. insiders own under 1% of the company. It seems the board members have no more than US$908k worth of shares in the US$133m company. I generally like to see a board more invested. However it might be worth checkingif those insiders have been buying. The general public, mostly retail investors, hold a substantial 68% stake in NVAX, suggesting it is a fairly popular stock. With this size of ownership, retail investors can collectively play a role in decisions that affect shareholder returns, such as dividend policies and the appointment of directors. They can also exercise the power to decline an acquisition or merger that may not improve profitability. While it is well worth considering the different groups that own a company, there are other factors that are even more important. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. Ultimatelythe future is most important. You can access thisfreereport on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
3 Boatbuilder Stocks Making a Splash this Summer If you’ve been on or near a lake this summer, you may have seen the products of North America’s many recreational boatbuilders. Not many are publicly traded, but luckily for investors, some of the largest are. With the U.S. economy in one of the longest bullish runs in history, consumer discretionary spending is quite high. And consumers usually only buy boats when they have extra cash. As a result, boat sales increased 4% last year to 276,000 units, the highest level in 11 years. Three boatbuilders stand out when looking for good investment opportunities, with strong financials and loyal consumer bases. Mastercraft Boat Holdings MCFT As one of the premier watersports towboat manufacturers, Mastercraft has been at the leading edge of the industry since 1968. Mastercraft currently offers 12 models, split into four performance and trim levels, from its entry NXT boats to its competition-level Star Series boats. Mastercraft boasts a projected 24.24% earnings growth this quarter, to help lift its full-year EPS growth expectation to 33.49%. MCFT has also outperformed its peer group by 5.1% YTD. Mastercraft is trading at a large discount compared to the rest of the consumer discretionary goods industry, with a forward P/E of just 7.18x, against the industry average of 21.59x. Mastercraft currently holds a Zacks Rank #2 (Buy) rating, with Style Scores of an “A” for Value and Growth. Malibu Boats MBUU Malibu Boats operates as a designer, manufacturer, and marketer of sport boats, primarily in the United States. The company sells its boats under three brands: Malibu, Axis Wake Research, and Cobalt. Malibu has held the largest share of performance watersports boats since 2010. While Malibu has underperformed the market and its industry so far this year, it’s had an astounding 214.2% price increase over the past three years. Malibu is currently trading at a discount to the rest of its industry, but has not always been. This indicates that the stock may be underpriced at the moment. MBUU currently sits at a Zacks Ranks #1 (Strong Buy) with all of its earnings estimate revisions heading upward recently. Our Zacks Consensus Estimate calls for a strong year over year earnings growth of 40% in 2019. BRP Inc. DOOO BRP Inc. designs, develops, manufactures and distributes recreational vehicles. The company offers watercrafts, sport boats, snowmobiles, pontoons, marine propulsion systems and all-terrain and utility vehicles, as well as engines for karts, motorcycles and recreational aircrafts. Its brands include Ski-Doo, Sea-Doo, Can-Am, Evinrude, Alumacraft, and Manitou. BRP currently holds a Zacks Rank #3 (Hold) but its earnings are projected to increase by 17.5% next quarter and 13.87% in 2019. In comparison, DOOO’s industry is expected to see its earnings shrink by 2.9% in 2019. BRP has also reported an average 6.71% earnings estimate beat over the past three quarters. Plus, BRP’s largest competitor, Polaris PII, has slowly been losing market share in recent years. BRP has also outperformed its peer-group’s price performance and Polaris YTD. BRP’s strategy of consistent acquisitions has helped propel this growth, which includes the purchase of two brands, Manitou and Telwater, in the past year. Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportMASTERCRAFT BOAT HOLDINGS, INC. (MCFT) : Free Stock Analysis ReportMalibu Boats, Inc. (MBUU) : Free Stock Analysis ReportPolaris Industries Inc. (PII) : Free Stock Analysis ReportBRP Inc. (DOOO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Does NIC Inc. (NASDAQ:EGOV) Have A Good P/E Ratio? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll apply a basic P/E ratio analysis to NIC Inc.'s (NASDAQ:EGOV), to help you decide if the stock is worth further research. Looking at earnings over the last twelve months,NIC has a P/E ratio of 20.22. That is equivalent to an earnings yield of about 4.9%. View our latest analysis for NIC Theformula for price to earningsis: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for NIC: P/E of 20.22 = $16.3 ÷ $0.81 (Based on the year to March 2019.) A higher P/E ratio means that investors are payinga higher pricefor each $1 of company earnings. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future. P/E ratios primarily reflect market expectations around earnings growth rates. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. And in that case, the P/E ratio itself will drop rather quickly. A lower P/E should indicate the stock is cheap relative to others -- and that may attract buyers. NIC's earnings per share were pretty steady over the last year. But over the longer term (5 years) earnings per share have increased by 11%. We can get an indication of market expectations by looking at the P/E ratio. We can see in the image below that the average P/E (35.8) for companies in the it industry is higher than NIC's P/E. Its relatively low P/E ratio indicates that NIC shareholders think it will struggle to do as well as other companies in its industry classification. While current expectations are low, the stock could be undervalued if the situation is better than the market assumes. If you consider the stock interesting, further research is recommended. For example, I often monitordirector buying and selling. The 'Price' in P/E reflects the market capitalization of the company. That means it doesn't take debt or cash into account. In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth. Such spending might be good or bad, overall, but the key point here is that you need to look at debt to understand the P/E ratio in context. NIC has net cash of US$181m. This is fairly high at 17% of its market capitalization. That might mean balance sheet strength is important to the business, but should also help push the P/E a bit higher than it would otherwise be. NIC has a P/E of 20.2. That's higher than the average in the US market, which is 18.2. Recent earnings growth wasn't bad. And the net cash position provides the company with multiple options. The high P/E suggests the market thinks further growth will come. When the market is wrong about a stock, it gives savvy investors an opportunity. If the reality for a company is better than it expects, you can make money by buying and holding for the long term. So thisfreevisual report on analyst forecastscould hold the key to an excellent investment decision. Of course,you might find a fantastic investment by looking at a few good candidates.So take a peek at thisfreelist of companies with modest (or no) debt, trading on a P/E below 20. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Opera releases crypto-ready mobile browser for iPhone There are more thana billion Apple devicesin use throughout the world, and now, they’ll all be just one download away from thedecentralized web. After months of teasing, the Norwegian software company Opera has at last added iOS support for its crypto-friendly mobile browser, Opera Touch. Starting today, iPhone and other iOS devices can use Opera Touch to connect to theEthereumblockchain, usedapps, and make transactions in cryptocurrency. The move caps off Opera’s attempts to offer up its “browlett” (Decrypt’s term of art) across all major platforms: Windows desktop, Mac OS, Linux, Android, and now, iOS. Opera was among the first major browser developers to begin beating the crypto drum as early as 2018, releasing its Android browser-wallet combo last December, which has since racked up more than5 million downloads. The decision to expand to iOS, first announced in March, followed a “strong demand from the crypto-community,” according to a statement from Opera’s head of crypto operations, Charles Hamel. “We believe that all modern browsers should integrate a crypto wallet,” said Hamel. “This will enable new business models to emerge on the web.” The built-in Ethereum Web3 API in the Opera Touch browser promises a “seamless” experience for users looking to take the plunge into crypto—no additional extensions or plugins needed. That lack of friction—removing the barriers that might otherwise keep new users away—is the key to bringing cryptocurrencies and decentralized technology to the mainstream, said Hamel. And it’s not an unpopular opinion. Major players in the crypto industry, such asCoinbase, Binance,Brave, and MetaMask, have all either released or are actively working on developing their ownmobile dapp browsers that integrate crypto wallets. The idea being that, just as the web browsers of yesteryear exposed millions of people to the first iteration of the web in the mid-1990s, the next Browser King will own the on-ramp to the Internet of the future. It’s early days in the next generation browser wars, and it’s still a wide open field. But there’s something to be said for Opera’s timing. Opera’s iOS push strikes while the eyes of the tech world are turned to crypto (thanks to Facebook), and abitcoin bull runhas got thecrypto faithfulrolling in mooning optimism.
Mysterious alien radio signal traced back to its home galaxy Australian Commonwealth Scientific and Industrial Research Organisation's (CSIRO) Australia Telescope National Facility (ATNF) Parkes Observatory radio telescope (Photo by Lisa Maree Williams/Getty Images) Researchers have pinpointed the source of another fast radio burst - a mysterious, powerful radio flash from space. These bursts are bright pulses of radio emission milliseconds in duration, which release as much energy as the Sun does in 80 years - but scientists have, until now, struggled to chase the bursts to their sources. The new find was made with CSIROs new Australian Square Kilometre Array Pathfinder (ASKAP) radio telescope in Western Australia. CSIRO lead author Dr. Keith Bannister said.This is the big breakthrough that the field has been waiting for since astronomers discovered fast radio bursts in 2007. In the 12 years since then, a global hunt has netted 85 of these bursts. Most have been one-offs but a small fraction are repeaters that recur in the same location. Some experts have suggested they could be from extraterrestrials - or be created by the engines of interstellar spacecraft. Read More on Yahoo News Instagram Head Tells Gayle King The App Doesn't Record Conversations To Tailor Ads Facebook sues over sales of fake accounts, likes and followers In 2017 astronomers found a repeaters home galaxy but localising a one-off burst has been much more challenging. Fast radio bursts last less than a millisecond, making it difficult to accurately determine where they have come from. Dr. Bannisters team developed new technology to freeze and save ASKAP data less than a second after a burst arrives at the telescope. This technology was used to pinpoint the location of FRB 180924 to its home galaxy (DES J214425.25-405400.81). The team made a high-resolution map showing that the burst originated in the outskirts of a Milky Way-sized galaxy about 3.6 billion light-years away. If we were to stand on the Moon and look down at the Earth with this precision, we would be able to tell not only which city the burst came from, but which postcode -- and even which city block,' Dr. Bannister said. The burst we localised and its host galaxy look nothing like the repeater and its host,' Dr. Deller said. Story continues 'It comes from a massive galaxy that is forming relatively few stars. This suggests that fast radio bursts can be produced in a variety of environments, or that the seemingly one-off bursts detected so far by ASKAP are generated by a different mechanism to the repeater. Watch the latest videos from Yahoo UK
Wednesday Apple Rumors: FaceTime Attention Correction Coming in iOS 13 Leading theApple(NASDAQ:AAPL) rumor mill today is news of a new feature coming in iOS 13. Today, we’ll look at that and otherApple Rumorsfor Wednesday. FaceTime Attention Correction :A new feature called FaceTime Attention Correction is coming to iOS 13, reportsAppleInsider. This new feature has the smartphone correcting a person’s eyes so that it appears they are looking at the camera. Typically, a person looks at the image of the other person when using FaceTime. This feature allows them to still do that, but makes it appear that they are looking at the camera. HomPod Hey Siri:HomePod owners are complaining about Apple’s new ad for AirPods,9to5Macnotes. This is due to the new ad showing off the Hey Siri support on the AirPods. This has the commercial activating the viewers HomePod without their permission. It’s a minor annoyance really, but that won’t stop people from complaining about it. InvestorPlace - Stock Market News, Stock Advice & Trading Tips iOS 13 Data Transfer:A new feature for iOS 13 may allow users to transfer data in a different way, reportsMacRumors. This new feature would allow users to directly connect their smartphones to transfer data between them. It’s still unknown what all uses this feature may have. However, setting up a new iPhone with an older one may be among them. One thing worth noting is that Apple doesn’t sell a Lightning to Lightning connector, but may when iOS 13 comes out. Subscribe to Apple Rumors As of this writing, William White did not hold a position in any of the aforementioned securities. The postWednesday Apple Rumors: FaceTime Attention Correction Coming in iOS 13appeared first onInvestorPlace.
Does Aramark (NYSE:ARMK) Create Value For Shareholders? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). To keep the lesson grounded in practicality, we'll use ROE to better understand Aramark (NYSE:ARMK). Over the last twelve monthsAramark has recorded a ROE of 16%. One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.16 in profit. View our latest analysis for Aramark Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Aramark: 16% = US$528m ÷ US$3.2b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. It is all earnings retained by the company, plus any capital paid in by shareholders. You can calculate shareholders' equity by subtracting the company's total liabilities from its total assets. Return on Equity measures a company's profitability against the profit it has kept for the business (plus any capital injections). The 'return' is the amount earned after tax over the last twelve months. A higher profit will lead to a higher ROE. So, all else being equal,a high ROE is better than a low one. Clearly, then, one can use ROE to compare different companies. By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. If you look at the image below, you can see Aramark has a similar ROE to the average in the Hospitality industry classification (14%). That isn't amazing, but it is respectable. ROE tells us about the quality of the business, but it does not give us much of an idea if the share price is cheap. I will like Aramark better if I see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying. Companies usually need to invest money to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. That will make the ROE look better than if no debt was used. Aramark does use a significant amount of debt to increase returns. It has a debt to equity ratio of 2.22. Its ROE is quite good but, it would have probably been lower without the use of debt. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time. Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In my book the highest quality companies have high return on equity, despite low debt. All else being equal, a higher ROE is better. But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to take a peek at thisdata-rich interactive graph of forecasts for the company. Of courseAramark may not be the best stock to buy. So you may wish to see thisfreecollection of other companies that have high ROE and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Some big farms collect big checks from Trump aid package MINNEAPOLIS (AP) When President Donald Trump's administration announced a $12 billion aid package for farmers struggling under the financial strain of his trade dispute with China, the payments were capped. But many large farming operations had no trouble finding legal ways around them, records provided to The Associated Press under the Freedom of Information Act show. The government paid out nearly $2.8 million to a Missouri soybean-growing operation registered as three entities at the same address. More than $900,000 went to five other farm businesses, in Indiana, Illinois, Tennessee and two in Texas. Three other farming operations collected more than $800,000. Sixteen more collected over $700,000. And the data list more than 3,000 recipients who collected more than the $125,000 cap. Recipients who spoke to AP defended the payouts, saying they didn't cover their losses from the trade war, and they were legally entitled to them. U.S. Department of Agriculture rules let farms file claims for multiple family members or other partners who meet the department's definition of being "actively engaged in farming." But critics including U.S. Sen. Charles Grassley, an Iowa Republican who has long fought for subsidy limits, say it's the latest example of how loopholes in federal farm subsidy programs allow large farms to collect far more than the supposed caps on that aid. Grassley said in a statement to AP that some of the nation's largest farms are receiving huge subsidies "through underhanded legal tricks. They're getting richer off the backs of taxpayers while young and beginning farmers are priced out of the profession. This needs to end. The Department of Agriculture needs to re-evaluate its rules for awarding federal funds and conduct more thorough oversight of where it's funneling taxpayer dollars." USDA officials defended the program, saying they believe its rules are being followed and that the department has procedures in place to audit recipients. Story continues About 83 percent of the aid under the Market Facilitation Program has gone to soybean farmers because they've suffered the most under China's retaliatory tariffs. The program sets a $125,000 cap in each of three categories of commodities: one for soybeans and other row crops, one for pork and dairy, and one for cherries and almonds. But each qualified family member or business partner gets their own $125,000 cap for each category. Farmers who produce both soybeans and hogs, for example, would have separate caps for each and could thus collect $250,000. But there are legal ways around those caps, and the data show that farmers are using them. Data provided to AP from the USDA show that the biggest beneficiary has been the DeLine Farms Partnership and two similarly named partnerships registered at the same address in Charleston, Missouri, that collected nearly $2.8 million combined. They're led by Donald DeLine and his wife, Lisa DeLine. They referred calls to their attorney, Robert Serio of Clarendon, Arkansas, who said the three partnerships qualified legally and probably could have qualified for more if not for the caps. He said each partnership farms around 27,000 acres and is made up of eight or nine partners who all meet the "actively engaged" requirement. USDA spokesman Dave Warner said in an email that the department couldn't comment on the specifics of the DeLines' operations but that such a large claim was likely audited to ensure eligibility, and that the agency had no reason to believe they didn't meet the requirements. At Peterson Farms in Loretto, Kentucky, eight members of the family partnership collected a total $863,560 for crops they grow on over 15,000 acres in seven counties, including wheat and corn used at the nearby Maker's Mark bourbon distillery. Co-owner Bernard Peterson said that it didn't make up for all their losses at a time when it was already hard to be profitable. The $1.65 per bushel aid payments for soybeans fell well short of losses he estimated at $2 to $2.50 per bushel, factoring in the loss of the Chinese market that took years to develop. "It's a big number but there are a big number of people directly depending on the success of our operation in the community," he said. Peterson said the operation supports about 30 families year-round, and more at harvest time. "It's a lot more than just the owners of the company." The numerous ways around the $125,000 caps mean that millions of subsidy dollars flow to "city slickers who are stretching the limits of the law," said Scott Faber, senior vice president of government affairs at the Environmental Working Group, which has long tracked federal farm subsidy programs, and criticizes them as biased toward big producers and promote environmentally damaging farming practices. Urban dwellers might play only a small role in an operation without ever setting foot on the farm because of the loose definitions for who qualifies, he said. More trade aid is on the way. The Trump administration in May announced a new $ 16 billion package for Round Two for 2019. But most details of how the new edition will be structured have yet to be released. The USDA says it has spent only about $8.6 billion so far out of the $12 billion authorized. But Congress recently eased a rule that said a producer's average adjusted gross income could not exceed $900,000. That change will require the agency to reopen Round One to producers with higher incomes, as long as 75 percent or more of their income is derived from agriculture. And that will push spending closer to the $12 billion. Matt Keller, a pork producer in Kenyon, Minnesota, who also grows crops to feed his livestock, said he "definitely appreciated" the $143,820 he collected from the program. It didn't cover all his losses but it helped with his cash flow, he said. He reached the $125,000 cap on his hogs, and the remaining money was for his soybeans and corn. Keller said his wife and other family members are all involved in his operation, which produces about 29,000 pigs per year. He doesn't blame the trade wars for depressed hog prices, but he said the tariffs, piled on top of an already existing oversupply, make things even tougher for producers. "It was kind of a relief, I guess, that we had a little support from the president and the country," Keller said. ___ Szalai and AP reporter Riin Aljas contributed to this story from Washington. Dylan Lovan contributed from Loretto, Kentucky.
Why NIO Stock Popped Today Shares of Chinese electric-vehicle manufacturerNIO(NYSE: NIO) were up 13.3% as of 12:30 p.m. EDT Wednesday despite a lack of company-specific news. Rather, it seems today's rise can be credited to NIO's U.S. counterpart,Tesla(NASDAQ: TSLA), which announcedrecord second-quarter vehicle production and deliveriesyesterday after the market closed. To be clear, there were no new press releases, news reports, regulatory filings, or analyst notes that might otherwise have driven today's move. But as of yesterday's close, NIO stock had also plummetednearly 70% since early Marchafter the company posted disappointing fourth-quarter 2018 results and followed with underwhelming full-year 2019 guidance. Then with itsMay 2019 monthly delivery updateearly last month, the company highlighted concerns for "the challenging macroeconomic and Chinese auto market backdrop," driven by a combination of a cyclical slowdown in China's auto market, Chinese regulators' decision tophase out electric-vehicle subsidies, and broader macroeconomic issues stemming from an escalating trade war between China and the United States. And NIO's subsequentrecall of almost 5,000 electric SUVslast week over potential battery fires certainly did the company no favors. All told, Given Tesla's indication of surprisingly strong demand for the EV market -- and even though much of that demand came from U.S. consumers -- it was hardly surprising to see NIO bounce in response today. Tesla's strength may not necessarily translate to improved results for NIO in the coming quarters. But it undoubtedly spurred hope among bullish investors that NIO's impending quarterly results could demonstrate similar outperformance. However, barring a positive update between now and NIO's next quarterly report (slated for either late August or early September), investors will need to hurry up and wait for fresh color to that end. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Steve Symingtonowns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has adisclosure policy.
Before You Buy Radius Health, Inc. (NASDAQ:RDUS), Consider Its Volatility Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you're interested in Radius Health, Inc. (NASDAQ:RDUS), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. First, we have company specific volatility, which is the price gyrations of an individual stock. Holding at least 8 stocks can reduce this kind of risk across a portfolio. The second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider. To make good use of it you must first know that the beta of the overall market is one. A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. View our latest analysis for Radius Health With a beta of 0.99, (which is quite close to 1) the share price of Radius Health has historically been about as voltile as the broader market. Using history as a guide, we might surmise that the share price is likely to be influenced by market voltility going forward but it probably won't be particularly sensitive to it. Many would argue that beta is useful in position sizing, but fundamental metrics such as revenue and earnings are more important overall. You can see Radius Health's revenue and earnings in the image below. Radius Health is a small cap stock with a market capitalisation of US$1.1b. Most companies this size are actively traded. It takes less capital to move the share price of small companies, and they are also more impacted by company specific events, so it's a bit of a surprise that the beta is so close to the overall market. Since Radius Health has a beta close to one, it will probably show a positive return when the market is moving up, based on history. If you're trying to generate better returns than the market, it would be worth thinking about other metrics such as cashflows, dividends and revenue growth might be a more useful guide to the future. In order to fully understand whether RDUS is a good investment for you, we also need to consider important company-specific fundamentals such as Radius Health’s financial health and performance track record. I urge you to continue your research by taking a look at the following: 1. Future Outlook: What are well-informed industry analysts predicting for RDUS’s future growth? Take a look at ourfree research report of analyst consensusfor RDUS’s outlook. 2. Past Track Record: Has RDUS been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of RDUS's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how RDUS measures up against other companies on valuation. You could start with thisfree list of prospective options. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Some big farms collect big checks from Trump aid package MINNEAPOLIS (AP) When President Donald Trump's administration announced a $12 billion aid package for farmers struggling under the financial strain of his trade dispute with China, the payments were capped. But many large farming operations had no trouble finding legal ways around them, records provided to The Associated Press under the Freedom of Information Act show. The government paid nearly $2.8 million to a Missouri soybean operation registered as three entities at the same address. More than $900,000 went to five other farm businesses, in Indiana, Illinois, Tennessee and two in Texas. Three other farming operations collected more than $800,000, and 16 others collected over $700,000. Recipients defended the payouts, saying they didn't cover their losses from the trade war and they were legally entitled to them. Department of Agriculture rules let farms file claims for multiple family members or other partners who meet the department's definition of being "actively engaged in farming." But U.S. Sen. Charles Grassley, an Iowa Republican who has long fought for subsidy limits, and other critics say it's the latest example of how loopholes let large farms collect far more than the supposed caps. Grassley said in a statement to AP that some of the nation's largest farms are receiving huge subsidies "through underhanded legal tricks. They're getting richer off the backs of taxpayers while young and beginning farmers are priced out of the profession. This needs to end. The Department of Agriculture needs to re-evaluate its rules for awarding federal funds and conduct more thorough oversight of where it's funneling taxpayer dollars." USDA officials said they believe its rules are being followed and that procedures are in place to audit recipients. About 83 percent of the aid under the Market Facilitation Program has gone to soybean farmers because they've suffered most under China's retaliatory tariffs. The program sets a $125,000 cap in each of three categories of commodities: one for soybeans and other row crops, one for pork and dairy, and one for cherries and almonds. But each qualified family member or business partner gets their own $125,000 cap for each category. Farmers who produce both soybeans and hogs, for example, would have separate caps for each and could thus collect $250,000. Story continues But there are legal ways around those caps. USDA data show the biggest beneficiary has been DeLine Farms Partnership and two similarly named partnerships registered at the same address in Charleston, Missouri, that collected nearly $2.8 million. They're led by Donald DeLine and his wife, Lisa DeLine. Their attorney, Robert Serio, said the partnerships qualified legally and probably could have qualified for more if not for the caps. He said each partnership farms around 27,000 acres and is made up of eight or nine partners who all meet the "actively engaged" requirement. USDA spokesman Dave Warner said the department couldn't comment on the specifics of the DeLines' operations but that such a large claim was likely audited to ensure eligibility. At Peterson Farms in Loretto, Kentucky, eight members of the family partnership collected a total $863,560 for crops grown on over 15,000 acres, including wheat and corn used at the nearby Maker's Mark bourbon distillery. Co-owner Bernard Peterson said it didn't make up for all their losses at a time when it was already hard to be profitable. The $1.65 per bushel aid payments for soybeans fell well short of losses he estimated at $2 to $2.50 per bushel. "It's a big number but there are a big number of people directly depending on the success of our operation in the community," he said. The numerous ways around the caps mean that millions of subsidy dollars flow to "city slickers who are stretching the limits of the law," said Scott Faber, senior vice president of government affairs at the Environmental Working Group, which has criticized federal farm subsidy programs as biased toward big producers and promoting environmentally damaging farming practices. Urban dwellers might play only a small role in an operation without ever setting foot on the farm because of the loose definitions for who qualifies, he said. Matt Keller, a pork producer in Kenyon, Minnesota, said he appreciated the $143,820 he got. It didn't cover all his losses but helped with cash flow, he said. He reached the $125,000 cap on his hogs, and the remaining money was for his soybeans and corn. Keller said his wife and other family members are all involved in his operation, which produces about 29,000 pigs per year. He doesn't blame the trade wars for depressed hog prices, but said the tariffs, on top of oversupply, have made things even tougher. "It was kind of a relief, I guess, that we had a little support from the president and the country," Keller said. ___ Szalai and AP reporter Riin Aljas contributed to this story from Washington. Dylan Lovan contributed from Loretto, Kentucky.
Why Paycom Software Stock Soared 85% in the First Half of 2019 Year Shares ofPaycom Software(NYSE: PAYC), a provider of human resource software, have surged in 2019, rising 85% during the first half of the year, according to data provided byS&P Global Market Intelligence. The stock's huge run-up has been fueled by a combination of a rebound from a sharp sell-off in tech stocks in the fourth quarter of 2018 and the company's strong business results reported so far this year. Image source: Getty Images. Part of Paycom's rise in 2019 is undoubtedly simply a rebound followinga tough fourth quarter of 2018for high-growth tech stocks. Illustrating how tech stocks overall have rebounded this year, the tech-heavyNasdaq Compositeindex rose nearly 21% during the first six months of 2019. But Paycom's underlying business performance has helped, too. The company's fiscal fourth-quarter revenue surged 31% year over year to $150.3 million, easilybeating analysts' average forecastfor the period. Revenue continued to rise rapidly in the company's most recent quarter, climbing 30% year over year. Non-GAAP (adjusted) earnings per share also jumped nicely during the period, rising 24% to $1.19, beating analysts' average estimate of $1.11. With Paycom's results in 2019 exceeding management's own guidance, it's no surprise that it raised its outlook in its most recent quarterly update. The company said it now expects full-year revenue between $718 million and $720 million, up from previous guidance for revenue between $710 million and $712 million. In addition, Paycom is guiding for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) between $296 million and $298 million, up from a forecast for $288 million to $290 million. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Daniel Sparkshas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Paycom Software. The Motley Fool has adisclosure policy.
These K-beauty sheet masks from Amazon will give you the glowiest skin for just $10 Sheet masks may be trendy, but they’re also an easy and fun way to tackle multiple skin concerns. Whether you have redness, acne scars, or dry patches, these essence-soaked masks are designed to leave skin glowing (an essence is like a cross between a serum and a toner, btw). But with so many options to choose from nowadays , you can definitely get lost in the sheet mask world. Fortunately, Amazon shoppers (including me) have done the hard work for you, and deemed these sheet masks from K-beauty brand Dermal one of the best . The Dermal Korea Collagen Essence Sheet Mask Combo Pack comes with 16 different kinds of masks filled with ingredients like aloe, green tea, seaweed, wine, pomegranate, and more. If you’re struggling with where to start, Dermal describes exactly what each mask targets, including hydration, brightening, firming, and soothing. For example, the green tea mask tackles firmness, moisture, and general skin health, which makes it a great quick fix for a bad skin day. Not to mention, Dermal sheet masks are gentle enough for all skin types, including my oily and acne-prone skin. Even though these sheet masks are ultra-hydrating, they don’t leave me greasy at all, but rather bless me with dewy, calm skin. They’ve never broken me out, and don’t aggravate any existing acne flare-ups. But I’m not the only Dermal-sheet-mask-convert—they’ve become incredibly popular among Amazon shoppers, who have left them over 2,600 five-star reviews. Courtesy of Amazon Shop it: $9.99, amazon.com “ These sheet masks are legit . I use one every night—it’s been one week and my skin has never looked better! After using these sheet masks consistently I actually want to go out without foundation. My skin feels smooth, it looks soft, clear, bright, and glows,” one customer raved. “Not only does it work on me, but my mom has been using them with me and there has been obvious improvement in her skin texture. After washing my face at night with a mild face wash, I slap one of these babies on for 30 minutes, remove the sheet, massage the extra essence into my skin, and I wake up with dewy, soft, supple, and glowing skin. My skin stays moisturized all day. I can’t live without these now. The price is so worth it for the results.” At just $9.99 for a whopping 16 sheet masks (that’s just around 62 cents per mask!), this is a total steal for anyone who wants glowy skin all summer long.
Here’s the question Tesla-watchers want answered Tesla’s (TSLA) second quarter production and delivery numbers beat expectations across the board, and the news sent the company’s soaring. Despite the good news for Tesla, one analyst remains wary on what the upcoming second-quarter earnings report will reveal and what the company’s outlook looks like. "Can they hit the second half numbers and can they do it profitably? That's going to be the question," said Wedbush Securities Analyst Dan Ives onThe First Trade. “That's why right now this is a battleground stock with the bulls and the bears,” Ives added. “[Tesla’s second quarter performance was] major step in the right direction for Musk and Tesla, but still more prove-me here over the second half.” Tesla delivered approximately 95,200 vehicles in the second quarter, beating analysts estimates of 90,700. Overall, positivity is spreading from Tesla’s record quarterly delivery number. But the automaker still has a long road ahead. “No doubt today, you have to feel incrementally better about the Tesla story because these Q2 numbers. So we definitely have gone more of what I view as a step in the right direction in terms how we view Tesla,” Ives said. “But I continue to think more-- a lot more wood to chop ahead, just given the aggressive targets they've set for the year." Ives maintained his neutral rating and price target of $230 on the stock. - Jennifer is a Production Assistant for Yahoo Finance. Follow her on Twitter@shankerjennifer READ MORE: • Victoria's Secret won't make it unless it reinvents itself: expert • The most attractive employers in 2019, according to current college students • Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
Our Take On Points International Ltd.'s (TSE:PTS) CEO Salary Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Rob MacLean has been the CEO of Points International Ltd. (TSE:PTS) since 2000. This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. Next, we'll consider growth that the business demonstrates. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. This process should give us an idea about how appropriately the CEO is paid. Check out our latest analysis for Points International Our data indicates that Points International Ltd. is worth CA$220m, and total annual CEO compensation is US$2.2m. (This is based on the year to December 2018). We think total compensation is more important but we note that the CEO salary is lower, at US$425k. When we examined a selection of companies with market caps ranging from US$100m to US$400m, we found the median CEO total compensation was US$640k. It would therefore appear that Points International Ltd. pays Rob MacLean more than the median CEO remuneration at companies of a similar size, in the same market. However, this fact alone doesn't mean the remuneration is too high. We can better assess whether the pay is overly generous by looking into the underlying business performance. The graphic below shows how CEO compensation at Points International has changed from year to year. Over the last three years Points International Ltd. has grown its earnings per share (EPS) by an average of 53% per year (using a line of best fit). In the last year, its revenue is up 8.0%. This shows that the company has improved itself over the last few years. Good news for shareholders. It's also good to see modest revenue growth, suggesting the underlying business is healthy. Shareholders might be interested inthisfreevisualization of analyst forecasts. Points International Ltd. has served shareholders reasonably well, with a total return of 19% over three years. But they probably don't want to see the CEO paid more than is normal for companies around the same size. We examined the amount Points International Ltd. pays its CEO, and compared it to the amount paid by similar sized companies. Our data suggests that it pays above the median CEO pay within that group. However, the earnings per share growth over three years is certainly impressive. We also note that, over the same time frame, shareholder returns haven't been bad. While it may be worth researching further, we don't see a problem with the CEO pay, given the good EPS growth. CEO compensation is one thing, but it is also interesting tocheck if the CEO is buying or selling Points International (free visualization of insider trades). If you want to buy a stock that is better than Points International, thisfreelist of high return, low debt companies is a great place to look. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
In third effort to fill the Fed, Trump nominates 'conventional' candidate President Donald Trump is making a third attempt at filling the remaining two seats at theFederal ReserveBoard, attempting a “compromise” duo that could deliver on dovish policy. Trump announced via Twitter Tuesday night that he plans on nominating St. Louis Fed economist Christopher Waller and former Trump transition economic adviser Judy Shelton to the Fed. Some say the duo is a “compromise,” with Waller being the conventional Fed candidate and Shelton being the candidate more likely to be sympathetic to Trump’s views on monetary policy. Although both nominees have yet to be officially nominated by the White House, those inside the Washington beltway expect both candidates to be thoroughly vetted, with a focus on the extent of their relationships to the president. The Senate will have the opportunity to examine the nominees once they face a confirmation hearing. Waller was approached by the White House last month regarding the possible appointment, and met with Trump on Tuesday, according to St. Louis Fed spokesperson Karen Branding. Waller, a career economist who taught at Notre Dame before heading to the St. Louis Fed, appears to have little history of political ties. In comparison, Shelton will likely face questions on whether or not she has altered her economic thinking to fit the monetary policy needs of the administration. “Our sense is that Shelton’s path to confirmation is slightly narrower,” Compass Point’s Isaac Boltansky wrote in a note Wednesday morning, adding that Waller appears to be a more “conventional pick.” Still, both Waller and Shelton appear to favor more accommodative monetary policy, meaning that the Fed board could see a stronger tilt toward dovish policy if they are ultimately confirmed by the Senate. Last year, Trump nominated Carnegie Mellon economist Marvin Goodfriend and former Fed official Nellie Liang, only to have those nominations expire andwithdrawn, respectively. As Trump boiled over the Fed’s decision to raise interest rates under Fed Chairman Jerome Powell, he nominated campaign adviser Stephen Moore and former pizza executive Herman Cain. Both were heavily criticized for their close ties to Trump;Cain ultimately bowed outciting low pay, and Moorewithdrew his nominationshortly after hiscontroversial writingsabout women resurfaced. Following the Moore and Cain nominations, this third round of nominees is expected to attract substantial interest as well, especially given the president’s continued calls for changes in Fed policy. George Selgin, a senior fellow at the libertarian think tank Cato Institute, told Yahoo Finance that the pairing of the “conventional” economist Christopher Waller with Judy Shelton, seen as more sympathetic to Trump, provides something of a “compromise” that the Senate will have to work through. While little is known about Waller’s views on current monetary policy, he is viewed to favor more dovish policy. Pedro Gomis-Porqueras, a professor of economics at Deakin University in Australia, has worked with Waller over the last 10 years and said he is “more dovish” than hawkish. Waller appears to believe in a strong firewall between the Fed and the executive branch. “A central bank’s independence, however, is the key tool to ensure a government will not misuse monetary policy for short-term political reasons,” Waller wrote in a2011 piecefor the St. Louis Fed. Gomis-Porqueras added that Waller is an “ideal candidate” to be a Fed governor, adding that negative interest rates is one of his favorite topics. In a 2016 blog post, Waller wrote that using negative interest rates is nothing more than a tax on bank reserves, since such a framework would pay banks to loan out money. His argument: the tax would be have to be borne by someone — the banks themselves, depositors, or borrowers. “None of this sounds very ‘stimulative’ for consumer spending,” Waller wrote. “But then, no tax ever is.” Boltansky points out that Goodfriend’s nomination collapsed because of hisendorsement of negative interest rates, which have been deployed by the European Central Bank and the Bank of Japan but met with deep skepticism stateside. “Waller appears to be a more conventional pick and we view his nomination as comparatively better positioned accordingly,” Boltansky wrote. There could be longer-term implications for the nominations. Powell’s term as chair ends in February 2022, and if Trump wins reelection, Boltansky said Shelton and Waller could be in the conversation for chair. Brian Cheung is a reporter covering the banking industry and the intersection of finance and policy for Yahoo Finance. You can follow him on Twitter@bcheungz. • Powell: Fed is 'insulated' from short-term political pressure • Largest U.S. banks clear first round of 'stress tests,' fewer banks tested • Why the labor market is the key to the Fed’s next move • Trump hints that Fed should match possible ECB rate cuts • Federal Reserve may lose 'patience' on Wednesday • Congress may have accidentally freed nearly all banks from the Volcker Rule Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.

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